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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 )
 This year’s festival will take place on April 27th from 10 am to 2 pm. This will be the 9th annual festival and will officially start after an opening ceremony by students of Ka Papa Lo‘i ‘o Kānewai. The day will follow with exciting guest speakers, ukulele performance, bird tours, spotting scopes, painting with Patrick Ching and much more.  Also making its first debut is a life size Manu o Kū, Ranger Rick, and Hina, the Monk Seal.  Grab a passport and participate in the exciting learning activitiesprovided by participating groups and agencies, all focused on native species, with the Manu o Kū as their ambassador for the day.The Manu O Kū Festival is an annual event usually held in May to coincide with theUS Migratory Bird Treaty Act.  The Festival takes place on the stately Coronation...
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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 )
A Day of Feng Shui - without the furniture being rearranged! Feng Shui, to many Westerners, is as unknown as the place of it's origin; China if you didn't know. More importantly it is an aspect of a philosophy on living a happy fulfilling existence regardless of circumstance. You may understand Feng Shui to be something akin to Home Staging or interior decorating but it is much much more than just that. In China, Feng Shui is a component of a major religion Taoism but you need not be religious to appreciate and or practice it's tenants but it is a spiritual path, none the less. In fact it's principles can be successfully incorporated into all religions that believe a universal energy or spirit is in and apart of all things. Taoism or the Tao means "The Path" and it's adherents recognize...
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By Keahi Pelayo
(KU Realty)
September 23rd, 2009 categories: Rants & Riffs Pacific Business News is reporting the following. “With the increase, the state’s median income ranked 5th in the nation in 2008, the same ranking it had in 2007.” CLICK HERE TO READ THE PACIFIC BUSINESS ARTICLE CLICK HERE TO READ THE ENTIRE POST
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By Douglas Fischer
(East Oahu Realty - Selling Honolulu, Hawaii Condos)
Even though we have undoubtedly gone through one of the worst recessions and price adjustment cycles (translation: burst bubble) in history, and many doubt the value of their real estate today, especially those who are upside down, owing more than their home is worth, I still find this statement about real estate to be of value.  I have had it posted on my websites for over ten years.  It's good food for thought. I am Real Estate What is Real Estate?  I am the basis of all wealth, the heritage of the wise, the thrifty and the prudent.  I am the poor man's joy and comfort, the rich man's prize, the right hand of capital, the silent partner of many thousands of successful men. I am the silent solace of the widow, the comfort of old age, the cornerstone of security against misfortune and w...
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By Kimo Stowell, REALTOR Associate® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
  Whether designing a property for sale or for personal purposes, the essential design process is the same.  Understanding the architectural interplay with decor will help create a room that leaves a positive impression on the potential buyer or design client instead of leaving them befuddled or worse, disappointed. In this this virtual bedroom design we were merchandising the property to function as a second home and or rental. With that in mind the room was to be used by the teenage daughter of our clients when used as a second home and a second bedroom in case of a rental. We were designing for both personal taste and general merchandising at the same time which means finding the intersecting elements of what might otherwise be a contradictory trajectory, or in other words a project ...
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September 17th, 2009 categories: Honolulu House For Sale Perfect for extended family living!  3 bedrooms 2 bathrooms upstairs and a separate 1 bedroom 1 bathroom downstairs (it cannot be rented). This home is listed for sale by another real estate firm.  Here are the details. CLICK HERE TO READ THE ENTIRE POST
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September 16th, 2009 categories: Honolulu Real Estate 101, Rants & Riffs Pacific Business News reported that Honolulu has the 20th strongest performing economy in the United States. CLICK HERE TO READ THE ENTIRE POST.
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By Keahi Pelayo
(KU Realty)
September 15th, 2009 categories: Honolulu Condominiums, Honolulu House For Sale As a Honolulu Realtor, I have almost immediate access to the most recently listed homes and condos.  For clarity, these listings are offered by other real estate firms and I have not yet seen them (they are too new), but on paper they look like good opportunities. If any of them catch your eye just click on it and a PDF of the MLS fact sheet will be available. CLICK HERE TO READ THE ENTIRE POST
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By Kimo Stowell, REALTOR Associate® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
  Celebrating Hawaii's Famous Chiefs from ancient times: Hawaii has many myths and legends surrounding it's ancient rulers or Ali'i. One such famous Chief was Umi the peasant King of Hawai'i. Born to the unwed union of a commoner of exceptional beauty and the legendary King Liloa of the big island, Umi rose from obscurity to become one of the most renowned kings in Hawaiian history. Great of stature and skilled in the martial arts Umi was said to have introduced himself to his Royal father, Liloa by jumping over the palace walls, tossing aside the spears of the palace guards and landing in his fathers lap anouncing that he was his fathers long lost child. Such breach of protocol would have placed Umi in mortal danger had not the King recognized the Malo(loin cloth) and ivory and shell n...
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September 14th, 2009 categories: Honolulu Real Estate 101, Rants & Riffs As a Honolulu Realtor that is in the core Honolulu real estate market everyday, I am sensing that it would like to start moving up!  Because the banking industry has instituted very tight lending and appraising guidelines, the market has been held back from a quick and stronger recovery. Here is why.
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By David Buck, Realtor-Broker
(Harcourts Island Real Estate)
Just beyond Waikiki at the base of Diamond Head is  Honolulu's "Gold Coast". The Gold Coast is the last strip of buildings at the end of Kalakaua Ave. across from Kapiolani Park. Unlike the "hustle & bustle" of Waikiki, the Gold Coast is a little more quiet. The buildings consist of: A few hotels such as The New Otani, The Diamond Head Beach Hotel (individually owned as condos) and The Lotus at Diamond Head (formerly a "W" hotel) Private Clubs such as the Elk's Club and the Outrigger Canoe Club The best oceanfront condos and co-ops on Oahu, the majority of which are now Fee Simple outside of San Souci, The Diamond Head Beach Hotel and a few units in 3003 Kalakaua Ave which are Leasehold. Right out the front doors of these building offer great swimming, diving and surfing breaks such as ...
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By Keahi Pelayo
(KU Realty)
September 11th, 2009 categories: Honolulu House For Sale It is not often that I walk into a property and wonder to myself, “Why hasn’t this property sold?” That happened this past Wednesday when I visited this well presented Honolulu home.  Located in one of Honolulu’s most desirable neighborhoods, Manoa, you could live in the upstairs and rent out the downstairs.  Or if you have extended family, you could live together with both parts of the family having quite a bit of privacy.  Here are the salient points concerning the house.
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By Keahi Pelayo
(KU Realty)
September 10th, 2009 categories: Honolulu Condominiums Part of being a successful Honolulu Realtor is staying on top of the available inventory (homes and condos for sale).  This involves seeing properties that are listed for sale in the Multiple Listing Service (MLS) and, time permitting, homes that are being sold for sale by owner (FSBO).  This week I had the good fortune to see a condo offered by the owner, in a centrally located and well thought of building. The following are the details of the unit.
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By Keahi Pelayo
(KU Realty)
September 9th, 2009 categories: Honolulu Real Estate 101, Honolulu Vintage Homes The age of Honolulu’s existing housing stock means that it is not unusual to see an older home being torn down to make way for a new one.  Typically, heavy equipment is brought to the site and the old home is literally torn apart piece by piece and placed in a huge trash bin. The waste is then sent to the Waimanalo Gulch dump and our precious available land-fill is decreased by one the size of one trashed house.  Pacific Business News recently featured a cool company called Re-Use Hawaii.  CLICK HERE TO READ THE ENTIRE ARTICLE.  
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By David Buck, Realtor-Broker
(Harcourts Island Real Estate)
It was less than a week ago that  I posted about a development on the west side not going through. Well, the state just approved Kamehameha Schools 29 acre development proposal in Kakaako. Unlike the displacement of farmlands in the Ewa Beach scenario, this is a "re-development" of an area that has traditionally been "industrial" in the corridor between Waikiki and Downtown Honolulu. Kakaako is already the home to several luxury condos such as Hokua, Nauru & Hawaiki Towers, Koolani, Keola Lai and other newer projects like Moana Pacific, 909 Kapiolani, The Vanguard Lofts and Moana Vista (being built). It also boasts the two largest shopping complexes in the state of Hawaii with Ala Moana Shopping Center and Victoria Ward Centers, both owned by General Growth. There's also great outdoor a...
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By Keahi Pelayo
(KU Realty)
September 8th, 2009 categories: Honolulu Real Estate 101 A recent Honolulu Advertiser article notes that Hawaii’s life expectancy has been pegged as the longest in the United States. “Yesterday’s report did not list life expectancy by state, but a 2007 report said Hawai’i was No. 1 with a life expectancy of 81.3 years. That report was done by the Manhattan Institute for Policy Research.”CLICK HERE TO READ THE HONOLULU ADVERTISER ARTICLE Are you thinking, “Keahi, what does that have to do with buying Honolulu real estate?”  Here are a few relationships.
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By Frank Diaz http://www.hawaiihome.biz
(East Oahu Realty)
Homeowners Mortgage Interest Tax Breaks September 7th, 2009 Homeowners Get Mortgage Interest Federal Tax Breaks On Income Homeowner’s now qualify for a number of tax breaks, some new, some old. Here is a partial list: Mortgage Interest Income Tax Break You can deduct the interest on up to one million dollars of home mortgage debt, whether it is used to purchase a first or a second home. You can also deduct the interest on up to $100,000 of home equity debt, even if you don’t use the money for home improvements. Federal Tax Credits for Energy Efficiency Include Solar Energy Systems including Solar Water Heating, and Photovoltaic Systems. Geothermal Heat Pump tax credits. Small Wind Energy Systems Residential Windows, Doors, and Skylights 2009 First-Time Home Buyer Tax Credit The maximum...
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By Hawaii homes
(Century 21 iProperties Hawaii)
Moana's sales office is closed and the salespeople have been instructed to turn in their keys.  After much hope with the planned purchase of the property by OliverMcMillan has fallen through.   The project is scheduled to be auctioned on September 25, 2009. For buyers who signed up with Moana Vista, their funds are held in escrow.  We expect them to receive full refunds of their deposits. Keep an eye on the newspapers and TV news for more information about Moana Vista  in the coming days. Aloha, Mike
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By Douglas Fischer
(East Oahu Realty - Selling Honolulu, Hawaii Condos)
This Popular Central Waikiki Condo building, located at 2121 Ala Wai Blvd, offers a great location, simple amenities and cool mountain and canal views. This mixed Fee Simple and Leasehold condominium building is a 42 story high-rise with 211 units located on the Ala Wai Canal.  It was originally built as a hotel, but now has been converted to condominiums. All units are two bedroom/one bath.  All units face the Ala Wai Canal and mountains, but some ocean views can be seen from common areas on the higher floors.  Amenities include a swimming pool, sauna, barbecue grill and recreation area.     Building Details:   Units: 211 Year Built: 1979 Elementary School: Jefferson Studios: 0 Stories: 42 Middle School: Washington 1 bdrm/1 ba: 0 Elevators: 3 High School: McKinley 2 bdrm/1 ba: 211 Uni...
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By Keahi Pelayo
(KU Realty)
September 4th, 2009 categories: Honolulu Real Estate 101, Rants & Riffs If you are a buyer waiting for the Honolulu home market to bottom out, then you may not want to wait much longer.  Wednesday and Thursday’s posts pay a great deal of attention to how low core Honolulu’s inventory has become and, as a result, I am surprised that there is not more momentum in the real estate market.  If the factors suppressing more market exuberance disappeared, then I the Honolulu market could turn on a dime.  Here is what to watch. CLICK HERE TO READ THE ENTIRE POST
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By Frank Diaz http://www.hawaiihome.biz
(East Oahu Realty)
The Well-Being Index will be a daily measure determining factors that impact well-being. Gallup.com’s also has a “State of the States” that series reveals state-by-state differences in political party affiliation, consumer confidence, well-being, and more, based on U.S. daily tracking data collected between January and June 2009. To view those surveys, click here. Hawaii and Utah topped the nation, with West Virginia and Kentuck maintaining their status with the lowest well-being. The Well-Being Index score for the nation and for each state is an average of six sub-indexes, which individually examine life evaluation, emotional health, work environment, physical health, healthy behaviors, and access to basic necessities. The January through June 2009 aggregate includes more than 170,000 ...
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