Aloha, this is David Buck and we’re down at the Gold Coast at Diamond Head and we’re going to talk about the difference between condo and co-op ownership in Hawaii. What most people don’t know is this is the highest concentration and the reason we’re filming down here is this is the highest concentration of co-ops on Oahu. We do have some condos as well...Read More
By Kimo Stowell, REALTOR® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
November Single-Family Home and Condo Sales Up Year-Over-Year Single-family homes and condos report double-digit increases, median prices remain stable HONOLULU – According to resale figures released this week by the Honolulu Board of REALTORS®, single-family home sales rose 12.8% with 203 closings and condo sales jumped 10% to 341 closings, compared to November 2023. Both markets experienced nominal changes in median sales prices. The single-family home median sales price for November was $1,115,000, up 1.4% from a year ago, while the condo median sales price was $530,000, a year-over-year increase of 2.7%. Using data collected from its computerized Multiple Listing Service (MLS) system, the Board reported the following statistics: Single-Family Home Resales Number of Sales Medi...
By Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
(Liberty Homes)
Yesterday we decided to head over to Ala Moana Shopping Center and eat lunch at Tanaka of Tokyo -Japanese Steak & Seafood House. With a wide variety of steak and seafood dishes on the menu to choose from each dish is prepared by a skilled Master Teppan-Yaki (teppan meaning iron griddle and yaki meaning fried or broiled) chef. The seating is situated around the iron griddle with the chef in the middle preparing the food with an entertaining show of flying spatulas and knives. With the chef cracking us up with jokes and flinging shrimp tails into his hat and pocket it was a very pleasurable meal. The chef first started off with a shrimp appetizer and then afterwards flavored grilled beansprouts while the waitress brought us miso soup and pickled vegetables. Then he made our calamari stea...
December 23rd, 2008 categories: Rants & Riffs I have been hearing of refinance mortgage loan rates in the 4.0 to 4.375% range! This is insanely low and now is a great time to consider getting a new loan. Here is a step by step plan to take advantage of these great loans. CLICK HERE TO READ THE ENTIRE POST.
December 22nd, 2008 categories: Rants & Riffs Today’s Honolulu Advertiser is reporting information about properties which will need to be acquired to make way for the proposed rapid transit rail project. Theoretically, the City will “negotiate” with the landowners, but if I had to bet…the owners will not do well against an entity that can use eminent domain rules to take a property. CLICK HERE TO READ THE ENTIRE POST.
In the last five years or so, Honolulu saw another round of high rise construction. New choices for condo living in town have emerged. The cycle appears to be reaching its end with a few more properties approaching completion. One of the properties is Moana Vista, located on Kapiolani Boulevard in Kakaako. This is a great location for city dwellers. Moana Vista is near the downtown financial district, Ala Moana Shopping Center and the Ward Centers. Now the developer is facing the challenge of selling its condos in a slowing market. KC Development is constructing the 46-story Moana Vista. It's just down the street from 909 Kapiolani and across from the Blaisdell Center. Last week, prices were reduced by 16-25% on 60 units in the 492 unit development. A mountain view unit on the...
December 19th, 2008 categories: Distressed Properties In general, core Honolulu is not experiencing significant rates of foreclosure. The City and County of Honolulu encompasses the entire island of Oahu and there is an area where foreclosures can be found. According to Pacific Business News, Ewa Beach is the place. CLICK HERE TO READ THE ENTIRE POST.
Oahu has had heavy rainstorms the last few weeks, but we had cloudy warm weather for the annual Hawaii Kai Christmas "parade" - actually a dog and people walk. Here are some photos: If you'd like more information on our great Hawaii Kai lifestyle, I've lived and worked here for more than 20 years. Just email or call. Barbara Abe, REALTORbarbara@barbarashawaii.com808-226-2537www.movetohawaii.comwww.barbarashawaii.com
December 18th, 2008 categories: Rants & Riffs Pacific Business News is reporting that Honolulu is in esteemed company. We are the third most expensive city in the U.S. CLICK HERE TO READ THE ENTIRE POST.
By Elle Zhang, Hawaii Realtor, (808)282-8683, Hawaii Real Estate. Sell Your Home in 72 hours!
(eXp Realty)
www.HawaiiElle.com What a great place we live in--Hawaii! With Christmas just around the corner. What will you give to your loved ones this year? I have launched a Client's Appreciation program recently. If you give me a referral, you will receive a nice surprise gift from me. Sound good? in line with the Holiday spirit, I would like to make this month's newsletter more easygoing and fun. Santa has given us an early present this month. Can you believe the interest rate of 30-year fixed loan has gone down to 4.5% a decrease of 2 percentage points today!? What does that mean to you? When you buy a house worth $600,000 which is the average price of a single family home on Oahu, you put up 20% as a down payment. How much do you need to pay every month? If the interest rate is 6.25%, you ha...
I am taking a break from the Christmas holiday news to provide valuable information to victims of our recent floods here on the Island of Oahu . We experienced storms last Thursday and Saturday which brought heavy rains (four inches of rain per hour) along with high winds. The rains produced flooding in several areas on the island. The State of Hawaii, along with city agencies and emergency organizations, have set up information centers providing services and assistance for flood and wind damaged victims. The centers will be open from 1 p.m. to 7 p.m. today, tomorrow and Friday. On Saturday, the information centers will be open from 10 a.m. to 4 p.m. Governor Linda Lingle has declared a state disaster emergency, enabling the National Guard to join with the City of Honolulu 's crews for...
I started writing this to talk about what I think is one of the best deal in Honolulu, but ended up with this thought because of a property I saw that would be ideal to buy if I were parent with a kid in college. If I were a student, I would have just died to have a place like this. If I were a parent, buying is the only think that would make economic sense to me. In fact, there is no good reason I can think of not to buy. If someone can tell me otherwise, I would be interested. Let me tell you about this property. First, it is not listed with me or my company. I wanted to share it because it just so happens to be in my favorite neighborhood to invest, Punahou. It's an upgraded 1/1/1 on the second floor of a quaint 1950's building. The building surrounds the pool like a courtyard amongs...
December 17th, 2008 categories: Honolulu Real Estate 101 No one should be shocked but the Honolulu new real property tax assessments are out and they are down. Great news is with them being down, theoretically, we will pay less in taxes. CLICK HERE TO READ THE ENTIRE POST.
Since it's almost the end of the year, I was curious how the 4th quarter would compare with last year. Hawaii Kai hasn't been hit by the foreclosure or short sale problems of other parts of the island, and prices seem to have been holding although demand is down. Hawaii Kai Condos For the 4th quarter to date, 50 sales have closed compared to 62 last year. High price was $860,000 for a 3 bedroom/3 bath in Peninsula of Hawaii Kai in 2008, vs $1,400,000 for a 3 bedroom/2.5 bath in Kalele Kai in 2007. Peninsula of Hawaii Kai Kalele Kai Low price was $365,000 for a 1 bedroom/1 bath in the Mauna Luan, vs. $320,000 for a 1 bedroom/2 bath home in the Commodore. Hawaii Kai Single Family Homes For the 4th quarter of 2008, 42 homes closed compared to 60 last year. The high price wa...
December 15th, 2008 categories: Honolulu Real Estate 101, Rants & Riffs During slower real estate markets I see all sorts of creative incentives to help bring buyers to the table. A seller on Oahu recently made the news because they are offering a “bounty” to “anyone who can locate a buyer”. CLICK HERE TO READ THE ENTIRE POST.
We may not have snow in the Islands, but we celebrate the December Holidays in style. Here are some of the events planned or held in Hawaii Kai: Dec. 20 - 12th Annual Festival of Lights Boat Parade in Hawaii Kai Marina, 4:30-8:30 PM - over 30 decorated boats will troll around the marina to hula by Ka Hale I o Kahala Halau Hula and a free concert by famous Hawaiian artist, Amy Hanaiali'i. Dec. 15 - Holy Trinity Christmas Program, 7 PM, Holy Trinity School Dec. 6 - Kaiser High Annual Christmas Tree Fundraiser Nov. 30 - Koko Marina Christmas Carnival Nov. 29 - Keiki Kalikimaka Parade supported by Koko Marina Center & Hawaii Kai Lions Club for Toys for Tots Nov. 28 - Annual Tree Lighting Celebration at Hawaii Kai Towne Center Contact me for details on our Holiday Events and enjoying the Haw...
December 11th, 2008 categories: Distressed Properties RealtyTrac just released the Hawaii foreclosure number for November. I found the headlines in our local newspapers at odds with each other. Even though the stories were based on the same information, each headline made me feel differently about the condition of the Honolulu real estate market. CLICK HERE TO READ THE ENTIRE POST.
A favorite Christmas tradition on our island home of Oahu is the Honolulu City Lights celebration. Ku'u Home ~ Our Home. is the theme for this year's Honolulu City Lights celebration. The theme was chosen to honor the diverse cultures of our island, our history and the Spirit of Aloha. 2008 marks the 24th year for Honolulu City Lights celebration. A lone 50' tree standing in front of our Honolulu Hale (Hawaiian for City Hall) was the beginning of this treasured tradition. The Honolulu City Lights now is made up of lighted displays, buildings and trees which runs through our downtown, Capitol District, Civic Center and Chinatown areas, with the traditional 50' lighted tree as the focal point. The Honolulu City Lights is a wonderful sight to behold day or night but to get the full impact ...
December 10th, 2008 categories: Honolulu Real Estate 101, Rants & Riffs I am starting to see signs that the Honolulu real estate market may be picking up. Its resilience could be seen in relatively strong interest before the financial woes of August, September, October and November. In fact, it is reasonable to believe that we have not seen the last of the bad news from the economy. In spite of all this historic bad news, our market has had continued sales! CLICK HERE TO READ THE POST.
December 9th, 2008 categories: Vintage Homes If you like vintage homes, then Kaimuki is a good place to snoop around. This home is located on 15th Avenue. Pay special attention to the rooflines, siding and the mitered corner finishes. CLICK HERE TO READ THE POST.
December 8th, 2008 categories: Honolulu Real Estate 101 My last post suggested that, in Honolulu, it is not good to spend a great deal of money remodeling a residence to prepare it for sale. There are five things that are worth doing when getting ready to sell. CLICK HERE TO READ THE POST
December 1st, 2008 categories: Honolulu Real Estate 101, Rants & Riffs I find it surprising that someone who is renting in Honolulu would ever consider not buying when circumstances give them the chance to do so! Outside of taxes, most people’s single biggest expense is their monthly housing cost. For renters, my arguments for buying are as follows. 1. Whether you like it or not, you are making a mortgage payment. In most cases landlords have a mortgage on their rentals, so if you are renting you are paying you landlords loan, not yours. If they don’t have mortgage against the rental, then they may have one against their home and your rent may be making that payment! CLICK HERE TO READ THE POST.
Kimo Stowell
Real Estate Agent
David Buck
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