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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 )
  Local Market Update  Makiki & Moili'ili Honolulu, March 2024   Single Family Homes March Year to Date 2024 / 2023 Change% 2024 / 2023 Change% Closed Sales 9 / 14  -36%   20 / 23  -13%    Median Sales Price $1.35M / $1.5M  -10% $1.5444M / $1.5M  3% Percent of Original List Price Received 93.5% / 98.0%  -5% 97.2% / 95.7%  2% Median Days on Market Until Sale 43 / 14   207% 23 / 15   53% New Listings 19 / 11  73% 38 / 36  6% Pending Sales 7 / 10  -30% 24 / 31  -23% Active Inventory 43 / 24  79% ---    Condos March Year to Date 2024 / 2023 Change% 2024 / 2023 Change% Closed Sales 36 / 41  95% 102 / 86  19%  Median Sales Price $385,000 / $430,000  -10%   $405,000 / $404,500  0%  Percent of Original List Price Received 98.1% / 97.9%  0% 97.4% / 97.8%  0% Median Days on Market Until Sale 26 /...
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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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By Hawaii homes
(Century 21 iProperties Hawaii)
Anekona Companies, the troubled developer of the Ilikai will see its interest in the property auctioned off on April 15th, 2009. Brian Anderson, owner of Anekona, bought approximately 343 of the Ilikai's rooms and commercial spaces in July, 2006.  One hundred and forty of the renovated rooms were successfully sold.  As the real estate market hit its peak and turned downward, Anekona was stuck with condotel units that it couldn't sell for a profit. Anekona's holdings at the Ilikai are currently 203 condo units and 16 commercial properties.  Before we all get excited about bidding at the auction, please note that the units will be sold in bulk.  Yes, one bidder can buy them all. Individual owners are a bit relieved, while also concerned about changes to come.  Part of the concern is with ...
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By David Buck, Realtor-Broker
(Harcourts Island Real Estate)
I've got a great listing w/ awesome views of Diamond Head ready to move in to.  Completely turn-key, this eco-friendly home is situated at the end of a culdesac.  There are top of the line kitchen features, such as: stainless steel appliances, quartz countertops, custom cabinets, gas stove & wine refer. New electrical work, each room wired for DSL, Cable. Hypoallergenic & eco friendly materials used in finish work. 2 bd, 1 ba up, 1 bd, 1 ba down w/ seperate entrances for rental option? In addition, the sellers have done their own blog to document the work.  For more info. on this home & others in Palolo click here! 
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By Keahi Pelayo
(KU Realty)
March 9th, 2009 categories: Distressed Properties, Honolulu Real Estate 101, Military For any buyers, especially military buyer’s PCS’ing to an Oahu military base, it is very important to consider how salable a property will be when it is time to sell.  Since most military transferees come to Honolulu on orders that last for 3 years, their experience of the Honolulu real estate market is an expedited microcosm of that which is experienced by regular buyers over the long term.  Here are the nine things that will make it easier for you to sell when you leave our sunny shores. 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)
ALOHA! Back in the day, there were Realtors® and Loan Officers that did not want to deal with VA Loans. Why? Because they're strict with their guidelines and criteria. When overpricing and overbidding were running rampant in all cities, VA remained the ever conservative loan for the Veteran of the Armed Forces. I say Woohoo!  Yeah!  Great!  It is with this criteria that has kept the VA Guaranteed Loan going and the only 100% financing loan in Hawaii that remains a good loan for the military and vet of the US Armed Forces. Remember, the VA Guaranteed Loan means that VA guarantees the lender a portion of your loan; they do not fund the loan. Now a days you'll have everyone trying to solicit your business with advertising that they are the  "VA Expert" or like me I say, "VA Home Loan Trans...
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By Keahi Pelayo
(KU Realty)
March 6th, 2009 categories: Honolulu Real Estate 101 It was reported on a Honolulu radio station that 6% of Hawaii’s homeowners were having difficulties with making payments on their mortgages. If you are like me, you have been wondering how the proposed Federal loan modification program is going to work to help these people.  To this end, the Wall Street Journal had a recent article that outlined some of the proposed rules. CLICK HERE TO READ THE ENTIRE POST.
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March 5th, 2009 categories: Military This post is for military folks that are PCS’ing to Hickam Air Force Base in Honolulu, Hawaii.  If you are planning on living off base (click here to check your BAH), then this post should help you understand the neighborhoods that are in close proximity to Hickam.  Note that I have selected areas that within 25 minutes or less of Hickam. CLICK HERE TO READ THE ENTIRE POST.
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By Barbara Abe
(East Oahu Realty)
Even though prices continue to decline and inventory increase, in our part of Paradise home and condos are selling because there is a finite supply of Hawaii Kai and smart buyers understand the great prices. Here's the highest sale of a single family home in February:  in the Triangle neighborhood, lot 11,619 sq ft, 4 bedrooms/3 baths, roofed living (because we measure lanais separately) 2,527 sq ft, built in 1967, remodeled in 2007.  Sales price $1,075,000.  (Contact me for your free report on Triangle and all the Hawaii Kai neighborhoods.) Here's the higest sale of a condo in February:  fee simple in Mawaena Kai (many of the homes are still leasehold), 3 bedroom/2 bath, interior sq ft 1,296, lanai 131, upper level corner townhome, slip not included (some do have deeded boat slips).  M...
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By Robin McCann
(Robin McCann Realty)
Whether you are an islander or a visitor to Hawaii, please take the time to honor the Nisei veterans by visiting the Nisei Fighting Men Exhibit.  The exhibit will remain until the end of the year.  The exhibit is on display at the main branch of Central Pacific Bank (2024 North King Street, Honolulu). Nisei soldiers were second-generation Japanese-Americans who fought during World War II for their country, although that country neither trusted nor respected them.  Several thousand Japanese-Americans who volunteered to serve were from the Islands of Hawaii; the remaining Nisei soldiers volunteered from the relocation camps on the mainland.  A total of 17,600 Nisei men served in the armed forces.  Every unit in which they served became known for its bravery under fire. The Nisei men of Ha...
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By Keahi Pelayo
(KU Realty)
March 2nd, 2009 categories: Honolulu Real Estate 101, Reasons To Sell Last week I helped a buyer purchase a property.  One of the keys to getting the buyer the property at the price the wanted it at, was a cover letter that outlined some of the realities the sellers face in this market.  Note that the sellers broker thanked me for writing the letter.   Also, I have changed the price and figures to protect the innocent.  The basic letter is posted below and I hope that it will give you insight into our market.
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By Keahi Pelayo
(KU Realty)
March 2nd, 2009 categories: Honolulu Real Estate 101, Honolulu Vintage Homes, Views of Honolulu For those of you that have been reading my blog for a while, you know that I am a fan of older vintage homes.  They offer details and craftsmanship that cannot be found in new Honolulu homes.  There is a line that a house crosses when it goes from vintage to a tear down. 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)
About a year and a half ago I went back through my old posts to make sure I didn't have any pictures inserted in them ....that WERE NOT mine. I had a few. I deleted them quickly as I was learning about NOT using animations, pictures, cartoons that were not mine. Obviously, it's stealing and I did not get permission to use them. Just as I do in my Real Estate business, I do everything by the book and advertising (blogging) also has to be within our state laws for the Real Estate Industry as well. Blogging is fun and can be very rewarding if done correctly. We use our professional attitudes online as we do offline, we follow all the guidelines and rules, and we carry ourselves in high esteem to give information to the public and our peers. ......And we only use our OWN written words and p...
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By Kimo Stowell, REALTOR Associate® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
Swept up on an Accessories Quest; we land on Southern Hawaii shores- SoHa So Good! http://www.sohaliving.com The beach is where it's at, so why aren't you there? Above: At The Beach Sign. $28 Made entirely of recycled wood. Size: 16" x 7"  Its oh so very easy to get swept up in accessory shopping and when there are sales, watch out! Sales shopping is like sailing the open seas it's exhilarating, liberating, and soaked in danger. Even the most seasoned shopper can get wrecked over a sale. Trapped on a shopping reef unable to stop the relentless flow of bric-a-brac cross the bow as wave after wave of accessories take it's toll on your your creative mind and heavily laden shopping cart. Your credit cards strain over the enormity of it all as you slowly maneuver through the check out lane; ...
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By Keahi Pelayo
(KU Realty)
February 27th, 2009 categories: Honolulu Vintage Homes As I was driving through Kaimuki, this classic home jumped out at me.  Even though its vintage green and white paint is fading.  It has many of the qualities one would look for in a Honolulu home worth remodeling (porch, roof line, siding, layout, etc.) CLICK HERE TO READ THE ENTIRE POST.
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By Daniel Newbill
(Realty Executives Oahu)
For all those concerned about obtaining financing for the Trump Tower Hawaii, word has come from S&P that they should have Financing completely ready for the building within 30-45 days.  It looks as though the walk throughs of he completed suites could begin as soon as April for the lower floors.  Reportedly Bank of Hawaii will be lending on the Trump Tower Hawaii  on a case by case basis depending upon credit history and other variables.  There will also be several other local banks providing financing.  For a complete list you can contact Daniel C Newbill III at 808-228-8434.    It seems as though the financing will require 25-30% down for US buyers and 50% down for Buyers originating their financing through Japan and other international locations.  The fact that financing is slowly b...
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February 26th, 2009 categories: Honolulu Real Estate 101, Rants & Riffs The local blog “Aloha Update” has an excellent post on the traffic one faces when commuting from the windward side. “Monday through Friday, before sunrise, beginning at 6:00 am is when bumper to bumper traffic starts in Kahalu’u around Ahuimanu Road and Ahuimanu Place going towards Kaneohe.  In the morning, it can take me about 15 minutes from Ahuimanu Road. to Haiku Road, which is only approximately 3 miles.  Without traffic this route should only take about 3 minutes. This morning traffic lasts until about 9:00 am.  For the after work flow going the opposite direction from Haiku Road to Kahalu’u, this traffic-jam begins at about 3:00 pm and can last up until 7:00 pm!” CLICK HERE TO READ THE ENTIRE POST.
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By Frank Diaz http://www.hawaiihome.biz
(East Oahu Realty)
Hawaii Kai Homes for Sale For Hawaii Kai, a planned community, we have quite a few condominium and townhome complexes. There is also Colony at the Peninsula, Commodore, Esplanade, Gateway, Heritage House, Kaimala Marina, Kalele Kai, Kaluanui, Kawaihae, Crescent, Koko Isle, Kuapa Isle, Lalea, Marina Palms, Mariners Village, Mauna Luan, Mawaena Kai, Moana Kai, Moorings, Mt Terrace, Nanea Kai, Naniwa Gardens, Plaza Hawaii,Kai. There are numcerous different neighborhoods to choose from including Anchorage, Hahaione-Lower, Hahaione-Upper, Kalama Valley, Kamehame Ridge, Kamilo Nui, Kamiloiki, Kealaula Kai, Koko Head Terrace, Koko Kai, Laulima, Luna Kai, Mariners Cove, Mariners Ridge, Mariners Valley, Napali Haweo, Napua Point, Paiko Lagoon, Portlock, Queens Gate, Spinnaker Isle, Triangle, an...
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By Robin McCann
(Robin McCann Realty)
Honolulu's low-income housing will benefit from up to $3.8 million from federal stimulus funds.  A total of $9.7 million in funds will be made available to the State of Hawaii for low-income housing.  Kukui Gardens and other low-income affordable housing will receive funds from the Stimulus Package signed into law by President Obama.  These stimulus funds will allow housing developers to purchase and begin construction of low-income apartments.  The funds will help to replace state housing tax credits, which faded with the the economic meltdown.  It is expected that 100-160 constructions jobs will be created by the projects created from the funds.  Hiring for the jobs created will begin as soon as the federal funds are received. Aloha,Robin
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February 25th, 2009 categories: Honolulu Real Estate 101, Rants & Riffs With the upheaval in the Oahu real estate values, buying the best house might not be the best investment. Below are two fact sheets for homes that are priced just under $700,000.  The Ocean Pointe home is 2,894 square feet, double wall construction and was built in 2007.  It is a very nice house and it is priced at $698,000.  The second home is located in Manoa on Sea View Avenue (about two blocks from the University of Hawaii); it is 1,900 square feet, built in 1980 and is priced at $685,000. Ocean Pointe Sea View At first blush, one would assume that the Ocean Point home is the better buy. It is newer, larger and in a planned community.  However, over the next 2 to 3 years, I would not be surprised to see its mark...
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By Keahi Pelayo
(KU Realty)
February 24th, 2009 categories: Rants & Riffs Could the Government’s intervention in mortgage foreclosures be making things worst? The  Wall Street Journal has an interesting article about the “moral hazard” created by bailing out barrowers. CLICK HERE TO READ THE ENTIRE POST.
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Have you heard about the Trump International Hotel and Residences at Beachwalk in Waikiki?  This amazing building will bring 5 star luxury ammenities to a new level in Hawaii.  Sold out in just a few hours this building has been highly sought after by investors and class officianados from across the globe.  There are some rumors circulating arond town and I just want to be the first to address a few of them:  Keep in mind hat hese aremy opinions based on rigorous research and phone calls to local experts in the field.   1)  There is a lack of Financing for the building.  This is absolutely not true.  There has been recent difficulty with lending in general and suffice it to say that lending on a condotel has been difficult to find recently but I have been assured by valid sources that l...
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