Honolulu, HI Real Estate News

By Keahi Pelayo
(KU Realty)
To Add Or Not To Add to Your Honolulu Contract? June 4th, 2008 categories: Honolulu Real Estate 101 Here is another part of your Honolulu contract quiver. Coldwell Banker Pacific Properties uses an Addendum to the Purchase Contract and many firms mirror this document. CLICK HERE TO READ THE ENTIRE POST.
Comments 1
The real estate condo market in Hawaii Kai in May, 2008 was down from 2007.   In May, 20 units sold compared to 36 last year, for a median sales price of $559,500 compared to $565,000 in 2007.  Year-to-date, 91 condos have sold vs. 106 last year.  Median sales price this year has been $540,000 against $545,000 in 2007.Statistics for East Oahu are slightly different.  Sales volume of fee simple condos for East Oahu declined 16.9% in number of sales, from 148 to 123; median sales price increased 4.3% from $517,500 to $540,000; average sales price increased 13.4%, from $586,617 to $665,126.Sales of leasehold units in East Oahu weren't quite as robust.  15 sales closed in May compared to 16 last year, for an average median sales price of $475,000 - down from $528,500 last year, and an avera...
Comments 0
By Keahi Pelayo
(KU Realty)
Termites in Honolulu Real Estate? April 8th, 2008 categories: Honolulu Real Estate 101, Negotiating If a termite could eat wood, how much wood could a termite eat? Well, it depends whether or not the termite is of the ground variety or from the tribe of the dry wood termites. The latter can still eat you out of house and home, but it will take a lot longer than the former. Believe it or not, what you see to the left is what remains of a significant beam (4×8 or maybe a 4×10). Note that the beam is completely hollowed out. The interesting part of this discovery was that the house had no other signs of ground termite infestation. Normally, when there is this magnitude of damage, one can see evidence of the critters all over the house.
Comments 1
By Keahi Pelayo
(KU Realty)
Honolulu’s Twin Brothers of Different Mothers June 3rd, 2008 categories: Honolulu Real Estate 101, Rants & Riffs To be politically correct, I need to say “Twin Sisters of Different Fathers.” I know what you’re thinking, where is Keahi going today. During yesterday’s workout, I began pondering the differences between buyers and sellers of real estate and I came to the conclusion that, though they are on opposite sides of the negotiating table, in many ways they are the same. The more I thought, the more I understood that sellers who price their homes to high are like buyers who make “low ball” offers. Both of them have the following characteristics.   CLICK HERE TO READ THE ENTIRE POST.
Comments 0
By Keahi Pelayo
(KU Realty)
Hawaii’s Purchase Contract Makes Honolulu Real Estate Easy! June 2nd, 2008 categories: Reasons To Sell If you are planning on buying or selling real estate in Honolulu it is good idea to familiarize yourself with the Hawaii Association of Realtors Purchase Contract. Those of us who have been around for a long while, have had the term Deposit Receipt Offer and Acceptance (DROA) steeped into our memory, but the new contract is called the Purchase Contract (PC).     CLICK HERE TO READ THE ENTIRE POST.
Comments 0
By Keahi Pelayo
(KU Realty)
Reasons To Sell Your Honolulu Real Estate-1031 Exchange April 16th, 2008 categories: 1031 Exchanges, Reasons To Sell Before you consider an IRC Section 1031 Tax Deferred Exchange you will want to seek counsel from your financial advisor, CPA, accountant, attorney and qualified experts in 1031 Exchanges. After all of my chatter about the value of owning Honolulu real estate, I’ll bet you’re wondering, “Why should anyone ever sell something they own in Honolulu?” And my answer is, the only reason to sell is if you have something better to do with the money or if you can do something with it that is more meaningful to you. CLICK HERE TO READ THE ENTIRE POST.
Comments 1
By Keahi Pelayo
(KU Realty)
Archive for the '1031 Exchanges' Category Honolulu 2nd Home Seller? April 23rd, 2008 categories: 1031 Exchanges, Reasons To Sell I received an email update from Cindy Naito, of First American Exchange Company, regarding the tax treatment of a second or vacation home. Goods news. Until now it was generally understood that a seller could not use an IRC Section 1031 Exchange to defer the capital gains tax on the sale. Based on this update, it appears you may be able to qualify for 1031 treatment! Given the number of second and vacation home owners in Honolulu, this is a terrific idea. NOTE, IF YOU HAVE A VACATION HOME AND ARE THINKING ABOUT USING A 1031 TAX DEFERRED EXCHANGE AS A PART OF A SALE, GET ADVICE FROM YOUR OWN TAX EXPERT TO DETERMINE IF YOU QUALIFY. Click here to read the entire ...
Comments 2
By Keahi Pelayo
(KU Realty)
Days on Market and Negotiating in Honolulu May 30th, 2008 categories: Negotiating, Views of Honolulu In my previous post on negotiating the price of a property, I state that one of the important question to ask is “How long has it been on the market?” Ah yes! The old days on market question! Days on market, or DOM, are the number of days a home has been on the market since it was listed for sale. Too many days on market should be a sign to you that a property has one or a combination of 5 different problems. a. It is priced to high. b. It is in poor condition c. There is problem with the home or the neighborhood. d. Poor marketing efforts have been made. e. Or there is poor access to see the home. Over the last three years, Honolulu’s real estate market has shifted from an insane seller...
Comments 1
By Keahi Pelayo
(KU Realty)
What Price Should A Buyer offer On A Honolulu Home? May 29th, 2008 categories: Honolulu Real Estate 101, Negotiating This picture was taken this past weekend during a visit to Hanalei, on Kauai. The fish was interviewed and then released to his family. No fish was harmed in the making of this blog. Buyers often ask, “What price should we offer for the property?” It seems many are looking for a rule of thumb concerning how far below the list price they should offer. There is no certain answer to this simple query. The price to be offered can be driven by many things and what follows is a list of 28 important questions to weigh when deciding on an offering price.   Click here to read the entire post.
Comments 1
Honolulu’s Landmark Closing…For A While. May 28th, 2008 categories: Rants & Riffs, Views of Honolulu One of Honolulu’s great landmarks is closing soon. The Royal Hawaiian Hotel will have a seven month $85,000,000 make over. This is great to hear because the last time I was there it still had the feeling of grandeur, but there was the sense that the time had come for a little tender loving care. The Honolulu Advertiser reported the following. “When the Royal Hawaiian Hotel closes next month for seven months of renovations, it will be only the second time the iconic pink beachfront hotel has shut down. The first time came right after World War II, once the barbed wire was removed from the beach.   To read the original post click here.
Comments 0
By Ronda Ching Day, Call "Help Me Ronda" for your Real Estate Needs!
(Coldwell Banker Pacific Properties)
One of my favorite neighborhoods in Honolulu is Ala Moana-Kakaako, which is sandwiched between romantic Waikiki and the island's financial district, Honolulu Downtown.  The secret is out that within the next 15 to 20 years, Kakaako will be transformed from its once industrial warehouse character to that of a thriving walk-about people's choice for living.  (On the drawing board are pedestrian walkways, retail and mixed use complexes, the mass transit/rail system, and beautiful new buildings.)  While some neighborhoods around the island are pegged for an approximately 16% (sixteen percent) drop in value, many fellow colleagues see Kakaako as "the place to be and live".  The within-walking distance retail, eateries, beach or sporting amenities. as well as medical, museums, and employment ...
Comments 3
Honolulu: Best Place in the U.S. to Raise Your Family! May 22nd, 2008 categories: Fun & Living, Views of Honolulu Wow! Honolulu was just selected by Best Life Magazine as the best place in the United States to raise a family. Even with the high cost of living, I have always believed this to be true. I have a 14 year old daughter and a 10 year old son, I find a sense of safety that cannot be found in the mainland. It is very rare to hear of an abducted child, in fact, the last missing child I can remember occurred in the late 1990’s.         To read the entire post cllck here.
Comments 0
By Keahi Pelayo
(KU Realty)
Honolulu Crash Pad Could Help With Mortgage Payments! May 14th, 2008 categories: Reasons To Sell Do you have an extra room in your home or apartment being used to store dust or junk? Given Honolulu’s International Airport, your room could be turned into a cash flow cow. A recent article in the LA Times talks about the need for “crash pads” for aircrew (pilots, flight attendants, etc.).   To read the original post click here.
Comments 1
By Keahi Pelayo
(KU Realty)
Oh the value of a view. Over the years, I have noticed that a view brings an “X” factor to the sale of a property. An “X” factor is something that brings additional value to a sale. “X” factors may not be immediately measurable, yet they are real, and people are willing to pay more for a house with an “X” factor.   To read the original post and see the video, click here.
Comments 0
By Keahi Pelayo
(KU Realty)
Colorful Honolulu House May 20th, 2008 categories: Honolulu Real Estate 101, Views of Honolulu Color, color, color and more color! Color is in, in Honolulu! This home is full of color and it makes me proud to be an American because it shows our freedoms at work. There are parts of the world where a committee might visit this home for being out of the ordinary or approved color palette. Yet in most American communities, accept those like Mililani, you or I can paint our home whatever color our mind may dream. Now for the practical view, when selling a home (this one is not listed for sale) it is a good idea to be sure the paint is fresh and clean. I recommend picking hues that are consistent with the neighborhood and that are considered up-to-date for an area. If this home were for sale,...
Comments 3
By Keahi Pelayo
(KU Realty)
Honolulu Foreclosures, Is This A Good Way To Get A Good Buy? April 21st, 2008 categories: Buying Honolulu Real Estate, Honolulu Real Estate 101 That is a definite maybe or maybe not! Let me start by saying that in Honolulu these are two methods of foreclosing on a mortgage. For years Hawaii was a judicial foreclosure State and in the late 1990’s a non-judicial foreclosure process was added by the legislature. If you are considering buying a foreclosure via a non-judicial sale,               To read the entire post click here to go to the original blog.
Comments 4
By David Buck, Realtor-Broker
(Harcourts Island Real Estate)
This month, May, 2008 commemorates the 100 year birthday of the Outrigger Canoe Club a private club at the base of Diamond Head.  The club was founded in 1908 by Alexander Hume Ford and the original location of the club was in Waikiki where the main Outrigger Hotel currently is.  The new or existing club location was completed in the early 1960's and designed by the late Vladimir Ossipoff. The club is a great place for families, social events, dining, entertaining and most importantly beach and water sports.  There is a dedication plaque from 1964 that says: "Let this be a place where man may commune with sun and sand and sea, where good fellowship and aloha prevail, and where the sports of old Hawai'i shall always have a home." It is a place where I like to call home too (I guess like ...
Comments 2
Sept. 25-27 in the Blaisdell Arena will be the site of the 4th Annual Discover Recycling Fair sponsored by the City & County of Honolulu. The pilot program of curbside recycling in Hawaii Kai and Mililani launched last October has been so successful, that the city will expand the program in November to 40,000 more homes, including East Oahu neighborhoods from Kuliouou to Kapahulu and Manoa.   Living on an island, there is no reason NOT to recycle! It keeps our garbage costs down, keeps our communities even more beautiful, and keeps our real estate values high.   To encourage support of recycling, Mayor Mufi Hannemann started the Tour de Trash to lead residents on tours of the waste-processing and recycling facilities on Oahu. Upcoming tours will focus on recycling of yard trimmings, ti...
Comments 0
By Alberta Keamo
(A K Realty, LLC)
Aloha and Happy Mother's Day Here's a wish to all the moms worldwide that we may be a channel of peace, love, forgiveness, harmony, truth, faith, hope, joy, and comfort to all we come in contact with and that we never stop feeling our self-worth and divine nature. Have a fantastice day, mothers... you truly deserve it!
Comments 2
By Deb Brooks
(Brooks Prime Properties Wichita Falls Texas)
I am anxious to introduce to you Kehaulani Kea of Honolulu Hawaii.On occasion, I will come across a person with such a wonderful smile I am immediately drawn to them! I am here today to introduce you to a lovely lady that just joined our Community.Like you, I am looking forward to learning more about her! When I visited Kehaulani's web site I knew I had come across a very special lady. Her talent in design is spectacular. Kehaulani Kea is Art Director for JDS Consulting and is a professional Graphic and Fine Artist. She has since retired from owning and operating the Kea Studios in Honolulu, HI a picture framing and design consulting company for 32 years.Kehaulani retired from JDS Consulting Kehaulani is a graduate of Punahou School, majored in Fine Arts at the University of Arizona, st...
Comments 20