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Honolulu, HI Real Estate News

By Kimo Stowell, REALTOR Associate® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
Bloom Garden and Art FestivalSunday, April 21, 2024 , 10:00am-4:00pmSaturday, April 20, 2024, 10:00am-4:00pmHolo holo Ward Centre for Bloom! Garden & Art Festival on April 20th & 21st at East Village Shops in Ward Centre. From 10am to 4pm each day, discover flower and plant displays, shop for handcrafted goods, pottery, and more! PRICE:FreeLOCATION:Ward Centre (Genki Sushi side) and East Village Shops (former Pier1)1170 Auahi StHonolulu, HI  For expert Real Estate Sales and Pet Friendly Property ManagementIn Honolulu, HawaiiCONTACT HI Pro Realty TODAY! 
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By Kimo Stowell, REALTOR Associate® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
  Local Market Update  Ala Moana & Kaka'ako Honolulu, March 2024   Single Family Homes March Year to Date 2024 / 2023 Change% 2024 / 2023 Change% Closed Sales 1 / 0  0%  2 / 0  0%  Median Sales Price $1.1M/ $0   0%  $1M / $0   0% Percent of Original List Price Received 96.5% / 0.0%  0% 94.7% / 0.0%  0% Median Days on Market Until Sale 38 / 0  0% 38 / 0  0% New Listings 1 / 0  0% 2 / 1  100% Pending Sales 0 / 1  -100% 2 / 1  100% Active Inventory 4 / 0   0% ---    Condos March Year to Date 2024 / 2023 Change% 2024 / 2023 Change% Closed Sales 38 / 55  -31%  96 / 124  -23%  Median Sales Price $747,000 / $830,000  -10% $624,250 / $645,000  -3% Percent of Original List Price Received 95.5% / 95.9%  0% 96.2% / 96.6%  0%    Median Days on Market Until Sale 92 / 39  136% 45 / 41  10% New Listin...
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By Kimo Stowell, REALTOR Associate® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
  Local Market Update  Waikiki Honolulu, March 2024   Single Family Homes March Year to Date 2024 / 2023 Change% 2024 / 2023 Change% Closed Sales No Recorded Sales No Recorded Sales Median Sales Price $0 / $0  0% $0 / $0  0% Percent of Original List Price Received 0 / 0%  0% 0 / 0  0% Median Days on Market Until Sale 0 / 0  0% 0 / 0  0% New Listings 0 / 0  0% 0 / 0  0% Pending Sales 0 / 0  0% 0 / 0  0% Active Inventory 0 / 0  0% ---    Condos March Year to Date 2024 / 2023 Change% 2024 / 2023 Change% Closed Sales 82 / 97  -15% 237 / 251   -6% Median Sales Price $440,000 / $470,000  -6% $435,000 / $403,750  0% Percent of Original List Price Received 97.9% / 97.3%  1%  97.0% / 97.0%  0% Median Days on Market Until Sale 33 / 31  6% 36 / 27  33% New Listings 170  / 150  13% 446  / 379  18% ...
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By David Buck, Realtor-Broker
(Harcourts Island Real Estate)
Aloha! This is David Buck with Harcourts Island Real Estate. Today is another Wednesday and we're going to cover another episode of We Need Inventory. The neighborhood of discussion today is Waialae Golf Course neighborhood. Every year I do a blog on the Sony Open and the homes along the golf course. Traditionally, every year there's several for sale... Read More
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August 31st, 2009 categories: Honolulu Real Estate 101 For the right seller of a Honolulu home or condo, owner financing can offer an excellent way to earn a good return the equity in your home and get your it sold.  The Wall Street Journal had a recent article that talked about whether or not a seller should consider financing a person who file bankruptcy in the last few years. The author spoke with two attorneys and I was surprised at their support for considering making the loan. CLICK HERE TO READ THE ENTIRE POST.
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US News & World Report just released a recent study of national job markets.  While Hawaii has certainly been affected by the economic downturn, our unemployment rate is lower than that of many states, and now we learn that Honolulu is one of the Top Cities for New Jobs. As reported by Realtor.org, "The underlying strengths of the top cities vary considerably. Some of the stronger cities are state capitals and have lots of government jobs. Others have abundant natural resources, stable housing markets, growing health care sectors, or are in close proximity to military bases. "But overall, what separates these communities from those that have been hit harder is a steady economy that protected them from steep unemployment." Listed in alpha order, Honolulu ranked 4th.  I rank it first, bec...
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By Barbara Abe
(East Oahu Realty)
The state just released a revised economic forecast, predicting that the slump may not be as bad as originally forecast. The improved outlook is due to inflation being more subdued than state economists had anticipated, while Hawai'i's biggest economic stimulus - tourism - is expected to be worse than before and result in increased job losses. As reported by the Honolulu Advertiser, the Department of Business, Economic Development, and Tourism's new report projects that gross state product adjusted for inflation will decline 1.1 percent this year. That's an improvement from the 1.6 percent decline forecast in their May report. A report released earlier this month by the U.S. Bureau of Labor Statistics said Honolulu's Consumer Price Index rose a scant 0.3 percent from July 2008 to June 2...
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By Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
(Liberty Homes)
    Supporting Hawaii Local Businesses!  (808) 842-0488 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~  Celeste "Sally" Cheeseman is a Realtor-Associate with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs, she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocating to Hawaii, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents. Website: www.hawaiihomesmarket.com  
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August 26th, 2009 categories: Honolulu Real Estate 101, Rants & Riffs My friend Ed Chu, an insurance agent with ACW Group, emailed me an article concerning possible increases in flood insurance rates for Honolulu properties. CLICK HERE TO READ THE ENTIRE POST.
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By Keahi Pelayo
(KU Realty)
August 25th, 2009 categories: Rants & Riffs Forbes online had a post concerning an increase, nationally, in foreclosures. “One in three new foreclosures between April and June was from a prime, fixed-rate loan, up from one in five a year earlier. Last year, subprime adjustable-rate loans caused the largest share of foreclosures.” CLICK HERE TO READ THE ENTIRE POST.
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August 24th, 2009 categories: Honolulu Real Estate 101 A photo is worth a thousand words (wish I would have been the one to coin this phrase).  No matter how eloquent a writer may be, there is no substitute for having a set of pictures posted with your listing. The Wall Street Journal online confirmed this thesis with an article last Friday. “Since nine out of 10 home shoppers begin their search on the Web, according to the National Association of Realtors, I’m appalled that some sellers don’t make much of an effort to make their houses presentable and visually appealing. After all, listing pictures are your main mode of advertising. If the pictures are poor quality, or don’t show every room of your house, as well as front and back views both of and from the house, many buyers won’t bot...
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By Hawaii homes
(Century 21 iProperties Hawaii)
Buyers have taken action this summer, submitting offers and taking advantage of the market.  Some of the drivers getting buyers moving are: Low interest rates $8k homebuyers tax credit Falling home values Even with price declines seen over the last few years, many buyers find it difficult to find a house in Honolulu that's in their price range.  Well, there ARE deals available, it may take some searching outside of the traditional favorite neighborhoods. Areas such as Kaimuki, Kapahulu and Hawaii Kai are desired by many people.  When they see the lower priced homes with 1,000 square feet of interior area selling for $550,000 and up they wonder where the deals are? Kalihi Uka has some great homes available in the high $300's to mid $400's.  Understand that these prices are not for new, t...
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By Barbara Abe
(East Oahu Realty)
In June, 2008, I wrote a post about the Walk Score, and how high Honolulu scored.  A new study, Walking the Walk, compared home sale prices with Walk Scores, and found that homes in more walkable neighborhoods, especially in densely-populated cities, sold from $4,000-$34,000 higher.  The data included 90,000 recent home sales in 15 markets. What is a Walk Score?  From the source,  "Walk Score measures the number of typical consumer destinations within walking distance of a house, with scores ranging from 0 (car dependent) to 100 (most walkable).   By the Walk Score measure, walkability is a direct function of how many destinations are located within a short distance (generally between one-quarter mile and one mile of a home). Our measure of walkability reflects the convenience and proxi...
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By Keahi Pelayo
(KU Realty)
August 20th, 2009 categories: Honolulu Real Estate 101, Rants & Riffs In past posts, I have talked about the importance of making sure your Honolulu home is really easy to show.  There are several components to this equation. 1.  You, the homeowner, must be willing to show your home on as short a notice a humanly possible (same day with an hour notice will get you many more showings). 2.  Use of a lockbox. Lockboxes give you the security of knowing that your keys are in a safe place and available for agents appointed showing times.  A listing with a lockbox will get many more showings than a listing without one and here is why.  If you don’t have a lockbox, one of two things will have to happen, your broker will have to meet every showing or a showing agent will have to pick up keys fro...
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By Daniel Newbill
(Realty Executives Oahu)
Donald Trump Junior and other high profile Hawaii dignitaries were all present high above Waikiki at the Hano Hano room at the Sheraton Waikiki August 11th.  The occasion was to further promote the luxurious 5 star Waikiki hotel and residence and to ensure buyers that the Trump name was not going anywhere.  The recent Licensing lawsuit by a handful of buyers claimed that the developer had advertised that Trump was a co-developer when indeed he had only licensed his name to the building.  The lawsuit didn't seem to deter most buyers in the building and has fueled the Trump Dynasty to further support the building.  I have included a link here to a print interview with Donald trump Jr. as well as a live interview dispelling any myths circulating.  This building and location are truly amazi...
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August 14th, 2009 categories: Honolulu House For Sale, Honolulu Real Estate 101 Until now my posts on planning have generally applied to house and condominiums, but today’s post has to do with condos alone (part 10 of my planning post). 10.  For condominiums. a.  Review the house rules. b.  Try to determine if any special assessments are coming up. c.  Determine the owner occupancy ratio. d.  Determine the percentage of reserves on hand. CLICK HERE TO READ THE POST
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By Douglas Fischer
(East Oahu Realty - Selling Honolulu, Hawaii Condos)
I just completed attending a RE/MAX sponsored discussion group with a local appraiser,  It was very interesting, and educational, to say the least. The good news is that a human being does an appraisal.  The bad news is that a human being does an appraisal. I was surprised to learn that there was a fair amount of subjectivity, based on experience, when it came to adjusting prices relative to comps.  We walked through a typical appraisal, with three comps and saw how value adjustments were made with respect to difference in square footage, remodeling, lot size, number of bathrooms, etc.  While many think there is a "big book" where an appraiser gets these dollar adjustment amounts, the actual adjustments are made by personal rule of thumb and experience with the market place. Obviously, ...
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By Douglas Fischer
(East Oahu Realty - Selling Honolulu, Hawaii Condos)
For more detailed information about Honolulu Neighborhoods, please click on the link below: http://www.hnlcondos.com/neighborhoods.htm
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By Douglas Fischer
(East Oahu Realty - Selling Honolulu, Hawaii Condos)
Open House Sunday was a success with 15 people coming through.  It is an interesting mix here in Waikiki, Honolulu.  We had a family from California looking for a vacation condo in Waikiki, but were interested in learning more about older buildings vs. some of the new buildings that have been built in the last 3-5 years. Also, a couple from Maryland, looking to relocate and retire here visited and talked with us for over a half hour.  We had an interesting discussion about neighborhoods and spent some time contrasting life in Waikiki, as opposed to the adjacent neighborhoods of Ala Moana and Kaka'ako.  One of the lifestyle issues we agreed on was how important and desirable it was to be able to walk out the door of your high-rise condo building and have easy walking access to restaurant...
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By Barbara Abe
(East Oahu Realty)
Many of you who have vacationed in Honolulu undoubtedly shopped at Ala Moana, one of the world's largest shopping centers.  The state of Hawaii isn't the only thing that turned 50 this month - Ala Moana did too.  In those years, it has grown from 680,000 square feet of retail space and 80 merchants in 1959 to 2.1 million square feet and 290 merchants today. The Honolulu Advertiser reported, "Don Graham, a Dillingham company executive who managed the Ala Moana project, said the expectation in 1959 was to grow the mall over time to as big as 1.5 million square feet.  'Now it's 2 million square feet," the 95-year-old Graham said yesterday. "All the things we planned were accomplished.'" Throughout the rest of the month, anniversary festivities are scheduled, such as bringing back 50 perfor...
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By Douglas Fischer
(East Oahu Realty - Selling Honolulu, Hawaii Condos)
I had to laugh!  Although it's great to be prepared, after listening to and reading about the pending heavy winds and torrential rains, Hurricane Felipe has reached Oahu spent, fizzled and frazzled.  Downgraded to a tropical depression, it lost all its punch and power. It seems that the bored weather forecasters here, just like in the Palm Spirngs desert area, get excited about the possibility of rains or storms.  We hear and read about it everywhere.  Most of the time, probably 99%, the rains or storms never appear.  What we do have today in Oahu is 82 degree temps, with light winds and some drizzling rainfall.  Having spent my first 50 years of life in Seattle, this doesn't even count as rain.  Even the surfers are depressed about not having any large waves to surf.  Maybe that's why ...
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By Kimo Stowell, REALTOR Associate® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
Virtual Master Suite Make Over Part II: The Master Bath  Virtual Master Suite Make Over Part I   In continuation of our virtual master suite makeover we move to the bathroom of our Nu'uanu, Hawaii Condo project. Our clients have a tiled water closet in the master bath separating the bath and toilet from the vanity area which is carpeted. For this post and project we focused on the vanity area alone. Renovating Kitchens and bathrooms traditionally returns the most money on your investment at the resale of the property. As Real Estate Merchandisers we advise are clients to maximize return by economizing on big ticket items like granite and hardwood by searching for on sale, discontinued or remnant products online and locally. When it comes to the appraisal, granite is granite regardless o...
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August 6th, 2009 categories: Honolulu Condominiums, Honolulu Real Estate 101 If someone asks me about the Honolulu real estate market, I answer “In General it is gaining strength and may be favoring sellers.  In specific, it could favor either the buyer or the seller.”  I am not trying to avoid the question and I believe my answer provides a very truthful and accurate answer.  If you are thinking about making a move (either buying or selling) don’t rely on generalities, get very, very specific on all of the market conditions that could affect your decision making process. CLICK HERE TO READ THE ENTIRE POST
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By Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
(Liberty Homes)
Honolulu County Real Estate Housing Market Numbers JULY 2009   Honolulu County Hawaii Homes Market Statistics for JULY 2009  definitely shows an increase in activity and sales prices. Our market is stabilizing and we do believe we just may have bottomed out. In the Honolulu Real Estate | Market Report for June 2009 our sales numbers for single family homes showed an increase from 225 in May to 254 in June. Now for July we have had 265 sales and the Median Sales price rose from $569,000 in June to $595,000 in July!  An increase upwards of 4.6% in sales prices and upwards of 5.6% in sales numbers!  Condo/Townhouse Resale Numbers:  Our Honolulu Real Estate Housing Market sales numbers for condos/townhouses decreased in the past month although median sales prices increased from $310,000 to ...
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