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Honolulu, HI Real Estate News

By Keahi Pelayo
(KU Realty)
October 6th, 2008 categories: Rants & Riffs, Views of Honolulu Here is another really good reason to live in Honolulu.  This is going to sound like a “shot” at neighbor island health care, but if you need immediate catastrophic health care on the Big Island, Maui, Molokai, Lanai or Kauai, it is very possible that you will need to be transferred to Honolulu. First, it takes time to arrange a medical flight and this could be a minimum of five hours from an incident. Garden at $5,395,000 Kahala home CLICK HERE TO READ THE ENTIRE POST
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By Keahi Pelayo
(KU Realty)
October 6th, 2008 categories: Honolulu Real Estate 101, Rants & Riffs There are two goals with this blog.  The first is to inform and the second is to rant.  A recent Honolulu Advertiser article outlined a new law, Act 228, which adds another level of work for obtaining building permits for properties that have a home or structure 50 years or older (it applies to residential and commercial properties). “Act 228, which took effect in July after little public input, requires that property owners submit black-and-white archival prints to the State Historic Preservation Division of the Department of Land and Natural Resources before county building permits can be issued for work on buildings at least 50 years old.” CLICK HERE TO READ THE ENTIRE POST.
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By Michelle Tucker ~ Pooler Real Estate, Rincon~Savannah~Richmond Hill
(!Daley Real Estate)
  Hanauma Bay Nature Preserve Honolulu Hawaii While on vacation last year to Hawaii, I was able to visit the most visited beach on the island - Hanauma Bay. A marine ecosystem located on one of the beautiful islands of Hawaii, 10 miles east of Waikiki. As tourist enter Hanauma Bay Natural Preserve, a short video welcomes you to the world of the marine life. The video goes into some Hawaiian history, what to do when you are in the bay and encourages you to help perseve the coral reef that has amazed visitors for decades. Koko Head Regional Park is a Nature Preserve dedicated to protecting the fragile marine life in the Bay. Hanauma is the first Marine Life Conservation District in the State.  Links: Hanauma Bay Nature Preserve Hanauma Bay History         author: Michelle Tucker original ...
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By Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
(Liberty Homes)
It's been a very hectic week for my Real Estate business. Well, with one coming down the stretch for closing, another escrow opened for a buyer on Wednesday that alone has been very busy for me. I also have a listing that I put up last Sunday with showings EVERY single day this week so I am now prepared to take the rest of the afternoon off. And so I'll spend it by Blogging, working  writing and getting some form of relaxation. Many of my Hawaii Home Buyers are Military Relocating to Hawaii and it seems that during the past few months our market has slowed, then regained some ground, then slows again only to speed up once more. I am beginning to believe it's not just OUR LOCAL MARKET....but it is MY business that has steadily been successful this year.  I contribute my growth spurts to...
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By Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
(Liberty Homes)
                              The Father Damien statue sits in front of the State Capitol Building in Honolulu, Hawaii. The one thing that I have always remembered from stories in my younger years is that Father Damien helped the people on the island of Molokai who suffered from Hansen's Disease (Leprosy). This statue was dedicated to Father Damien and in memory of the 7,200 victims of Hansen's Disease (and their helpers) who died in remote Kalawao and Kaupapa, land of the exiled. Their courage and compassion spared others from their own fate ....is what reads at the base of the statue. Following is a little history of Father Damien: He was born to a farmer's son at Tremeloo, Belgium as Jozef de Veuster. Damien joined the Missionary Congregation of the Sacred Hearts on Jnauary 3, 1840....
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By Keahi Pelayo
(KU Realty)
October 3rd, 2008 categories: Honolulu Real Estate 101 West Oahu has quite a few homes, townhomes and condos that have been newly built.  The Wall Street Journal has an excellent article that warns you to inspect your newly built home (in spite of the fact that it is new construction).   CLICK HERE TO READ THE ENTIRE POST.
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By Randy L. Prothero, Missouri REALTOR, (808) 384-5645
(eXp Realty)
This report covers areas including: Kalihi Area, Kalihi Valley, Kalihi Uka, Kalihi upper, Kalihi Kai, and Kalihi Lower, which is part of Honolulu, Hawaii.  These numbers reflect only the totals and average sale prices. Single Family homes sales have softened. Average sales price of single family homes has slipped a little year to date.  The big issue is that sales volume has plummeted considerably.  With more than 9 months worth of inventory and low interest rates buyers will find the Kalihi area a good place to negotiable sellers and the home of their dreams. Condo and townhouse sales are another story.  Year to date, the average sales price has stabilized while sales volume is down.  In September there were no condo sales in either 2008 or 2007. Current Active for Sale (as of 10/3/08)...
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By Keahi Pelayo
(KU Realty)
October 1st, 2008 categories: Honolulu Real Estate 101 $7,499,000 home for sale in Diamond Head area. Given the number of luxury condos and homes in Honolulu, the way they are insured can have a significant impact on a future claim. Valerie Fitzgerald, of Coldwell Banker in Los Angeles,  CLICK HERE TO READ THE POST.
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By Keahi Pelayo
(KU Realty)
September 30th, 2008 categories: Honolulu Real Estate 101 Okay they aren’t sins, but I got you to read the post! Forbes on-line has a very interesting article regarding 7 things to consider when you are thinking about selling your home yourself (without an agent or broker representing you).  All seven issues should be weighed before you place an advertisement and put the sign in front of your home.  I found the comment concerning negotiating to be powerful. CLICK HERE TO READ THE ENTIRE POST.
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By Keahi Pelayo
(KU Realty)
September 30th, 2008 categories: Honolulu Condominiums Diamond Head vintage home. As you know I am a bull on most of core Honolulu.  As I see it long term, 2 bedrooms and bigger, with 2 baths or more and 2 parking, priced under $500,000 fee simple, is a sweet spot in the Honolulu condominium real estate market.  When I searched by these parameters today, I found ten (10) available units in tax map areas 11-8 through 135 (note that I have not included Waikiki in the attached market analysis).  Here is why it’s a sweet spot. 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 )
  In Hawaii, what does "Leasehold" mean? Are these a good investment?Now, I'm speaking from an investors perspective, and although I have never purchased leasehold properties I have researched their profit potential and have participated in the sale of such properties.Leasehold properties are common on Oahu and many of them have or will be converting from leasehold to fee simple. Leasehold properties can be bought and sold like time shares, in a sense.  You are buying and or selling the right to use the property as opposed to owning it out right with the title in hand. This can be for residential or commercial transactions. Now every leasehold property is different. The terms of which can vary depending on use. The length of the lease, usually 99 years or less and how much time is left ...
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September 29th, 2008 categories: Honolulu Real Estate 101 Classic Coconut Ave. Kamaaina home Hip, hip, hooray!  California is generally considered a bell weather indicator for real estate and the economy.  A recent article in Pacific Business News shows that California’s number of months of remaining inventory and the days on market have dropped significantly as compared with August 2007.  This bodes well for Honolulu home and condo sales because as California improves, this improvement will translate to Hawaii. CLICK HERE TO READ THE ENTIRE POST.
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By Keahi Pelayo
(KU Realty)
September 26th, 2008 categories: Buying Honolulu Real Estate, Honolulu Real Estate 101 Diamond Head Light House An article posted at Bloomberg.com is divining that the Federal Reserve may be close to reducing interest rates.  Rates are already very low and any additional reduction in interest rates should push buyers off of the waiting to buy fence. CLICK HERE TO READ THE ENTIRE POST.
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By Keahi Pelayo
(KU Realty)
September 25th, 2008 categories: Honolulu Real Estate 101 Many people see buying foreclosures as a great vehicle to make their fortune.  Flips have become very difficult to do, so this leaves turning houses and condos into rentals.  The challenge with rentals is the ongoing maintenance and management.  Experience tells me that the most successful landlords are very, very hands on.  It is difficult to find a good and responsive manager, especially if your rental property is out of your local area. CLICK HERE TO READ THE POST.
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By Keahi Pelayo
(KU Realty)
September 25th, 2008 categories: Reasons To Sell Morning sunrise over Koko Head The renaissance in Waikiki continues with Queen Emma Foundation’s plan to redevelop the famous or infamous (depending on how you look at it) International Market Place (IMP).  IMP is dead center in the middle of Waikiki and, though it is charming, it has been ready for a new look for the last 20 years. This is great news for the area. CLICK HERE TO READ THE POST.
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September 24th, 2008 categories: Buying Honolulu Real Estate, Honolulu Real Estate 101 Here is another reason to buy a Honolulu rental house or condo.  According to today’s Honolulu Advertiser… “Median monthly rent was $1,194 in Hawai’i last year, meaning half of all renters paid more and half paid less, according to the census estimate. CLICK HERE TO READ THE ENTIRE POST.
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By Keahi Pelayo
(KU Realty)
September 24th, 2008 categories: Rants & Riffs Ewa city lights from my house. In this election season it is appropriate to talk politics.  Our nation was founded on the view that all men are created equal and should be free.  It is incumbent on every citizen to be politically involved because, believe it or not, politics and politicians affect every part of our life. The water you drink, the car you drive, the air you breath, your right to speak and yes the value of your real estate can and are impacted by those rascalsat City Hall, the State and National Governments. CLICK HERE TO READ THE ENTIRE POST.
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By Keahi Pelayo
(KU Realty)
September 23rd, 2008 categories: Rants & Riffs Forbes has a great summary of the proposed $700,000,000,000 Federal Government bank bail out plan.  Below is the first of ten very clear observations. “1. Who gets to participate? The outlines of the plan call for the creation of either a branch of the Treasury Department or an independent agency to buy or take on troubled assets, with the goal of either selling them at a profit later or working them off.   CLICK HERE TO READ THE ENTIRE POST.
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In Part I of this series, I suggested you make a checklist of what's important to you about the neighborhood where you live, so you can rank pluses and minuses when you look at homes in different locations.  Hawaii Kai offers you such diversity of prices, amenities, and styles, that you will be like a "kid in a candy store" if you haven't narrowed down your wants & needs before starting to look. Here are some ideas from my years of showing prospective buyers around Hawaii Kai: 1.  Schools: Hawaii Kai has public high school and elementary school, and middle school is not far away on the highway toward Honolulu.  If you prefer private school, you should check the distance and commute. 2.  Crime rate:  Hawaii Kai prides itself on being neighborly and having great community spirit.  But che...
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September 22nd, 2008 categories: Rants & Riffs North Shore of Maui from the Hawaii Super Ferry With fuel prices rising and the National economy having it’s challenges, Hawaii tourism has been off for a number of reasons.  One of the reasons was this year’s closure of Aloha Airlines and ATA Airlines and the resultant reduction in airline seat capacity.  If fewer people can come to Hawaii, then there will be fewer people for hotel rooms, retailers and real estate.  I am happy to report that a recent Honolulu Star Bulletin article shows that 3 airlines have made plans to add seat capacity. This will be good for our economy and for Honolulu real estate.  The article reads… CLIC HERE TO READ THE ENTIRE POST.
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