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Honolulu, HI Real Estate News

By Kimo Stowell, REALTOR® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
  Local Market Update  Waikiki Honolulu, December 2024   Single Family Homes December 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% 1 / 0  0% Pending Sales 0 / 0  0% 0 / 0  0% Active Inventory 1 / 0  0% --- * Waikiki has very few single family residences and are rarely offered for sale.  Condos December Year to Date 2024 / 2023 Change% 2024 / 2023 Change% Closed Sales 72 / 69  4% 998 / 1074  -7% Median Sales Price $552,500 / $430,000  28% $450,000 / $425,000  6% Percent of Original List Price Received 96.0% / 96.4%  0% 96.4% / 96.9%  -1% Median Days on ...
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By David Buck, Realtor-Broker
(Harcourts Island Real Estate)
Can you believe that home sales in Waialae-Kahala were up 450%? This is David Buck with Harcourts Island Real Estate here to report on the local market update for December of 2024... Read More
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By Kimo Stowell, REALTOR® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
  Local Market Update  Ala Moana & Kaka'ako Honolulu, December 2024   Single Family Homes December Year to Date 2024 / 2023 Change% 2024 / 2023 Change% Closed Sales 0 / 2  -100% 5 / 9  -44% Median Sales Price - / $1.045M $1.1M / $1.182M   -7% Percent of Original List Price Received - / 97.1% 93.0% / 96.3%  -3% Median Days on Market Until Sale - / 0  37 / 7  429% New Listings 1 / 2   -50% 14 / 14  0% Pending Sales 0 / 0   7 / 5  40% Active Inventory 8 / 6  33% ---    Condos December Year to Date 2024 / 2023 Change% 2024 / 2023 Change% Closed Sales 47 / 44  7%  503 / 560  -10%  Median Sales Price $703,000 / $812,000  -13%  $769,000 / $715,000  8% Percent of Original List Price Received 93.3% / 97.1%  -4% 96.0% / 96.9%  -1%    Median Days on Market Until Sale 49 / 25  96% 53 / 34  56% New ...
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By Keahi Pelayo
(KU Realty)
July 17th, 2008 categories: Honolulu Real Estate 101, Rants & Riffs The Honolulu advertiser announced that it will layoff 54 full and part-time employees. Many people believe that this is a result of the lagging economy and, thus, lower advertising revenues. I believe there may be some relation to these factors, however, the bigger culprit is a shift away from printed news sources toward internet-based models. “As you know, the newspaper industry faces significant challenges right now,” Webber said in his note. “The Advertiser is not immune from them. Advertising revenues were already lagging behind for the media when the downturn in the local and national economies began to materialize. We must cut operating costs to reflect these conditions.”     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)
Standing at Kewalo Basin I look out to Waikiki and the ever so famous Diamond Head (volcano crater) on the southeast coast of Oahu overlooking the Pacific Ocean in Honolulu, Hawaii. Overlooking an object in the water I choose to shoot the scene to 'possibility' depicting that the object is from some long ago sunken ship that wrecked on the reef. Whatever it was it was beautiful. Diamond Head is towards east Honolulu and past Waikiki Beach. This monstrous crater is an extinct volcano from 300,000 thousand years ago and is 3,520 feet in diameter with a 760 ft. summit. This is the history of how the creation of Oahu and this crater was formed: 3 million years ago two shield volcanoes erupted. The very eroded remants of these volconoes are The Koolau Mountain Range- A Dormant Volcano on Oa...
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By Keahi Pelayo
(KU Realty)
July 16th, 2008 categories: Honolulu Real Estate 101, Rants & Riffs In 1903, Hawaii adopted an alternative land recordation system, which is referred to as the Hawaii Torrens Land system-or more commonly referred to as “land Court”. Believe it or not, it was modeled after a system for registering ships. “Hypothetically” the government provides a guarantee for the title to a home, condo or piece of land. The key word in the last sentence is “hypothetically”, please don’t believe that the government will protect your title. As with all real property purchases, be sure to obtain title insurance (whether or not the property is in land court). I am not going to go into all of the nuances and challenges that one can face with property registered at the land Court, however, my purpose is to wa...
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By Kimo Stowell, REALTOR® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
  Historic Site: Last seat of Hawaiian Sovereignty 'IOLANI PALACE Honolulu, HI     `Iolani Palace is considered the finest example of American Florentine or Italianate architecture in the world. Artisans were brought from Europe and the US to complete it's neoroccoco details and stylings.        `Iolani Palace was the official residence of the Hawaiian Kingdom's monarchy and is considered the seat of the Hawaiian Sovereignty movement today. Built by King Kalakaua and completed in 1882, The palace featured the very latest in technological advances for it's time including electricity and telephones (even before the White House). The palace was the center of social and political activity in the Kingdom of Hawai`i until the kingdom was illegally overthrown in 1893 by a cabal of American bus...
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By Keahi Pelayo
(KU Realty)
July 15th, 2008 categories: Honolulu Real Estate 101, Rants & Riffs Honolulu as a type of apartment, which is a throwback to by gone days. Before condominiums, the only way to own an apartment was through the purchase of a cooperative (Co-op). I am told that cooperatives are legally real estate (if leasehold, the lease must be greater than 30 years). Even though they are considered real estate, these apartments can have unusual rules. Before completing the purchase of cooperative, be sure to carefully read all of the documents pertaining to living in the building and the governance of the Association. The following are a few of the more unusual rules that I have run into (note that not every Co-op has all of these rules). CLICK HERE TO READ THE ENTIRE POST.
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By Keahi Pelayo
(KU Realty)
July 15th, 2008 categories: Rants & Riffs I don’t know how the measured “sexiest”, but according to Concierge.com Honolulu and Oahu are right up there!   CLICK HERE TO READ THE POST.
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By Barbara Abe
(East Oahu Realty)
The grand opening of the Hawaii Kai Dog Park June 29 was fantastic! I was there at 8:00 to set up for opening and left at 10:45, then went back at 12:30 and was amazed at how many people and their dogs were there - and they were all thanking us - they were so happy - it is working! The story of the creation of the park is a real lesson in community public and private partnerships.  Hawaii Kai dog walk started 4 years ago to raise people's awareness of what we were trying to do and to raise money for the park.  We became a 501c(3) corporation as soon as we could so that we could get donations.  In total we raised $58,500 which includes a $10,000 donation from Stanford Carr (Peninsula developer) $2,500 from D.R.Horton (Schuler Homes) $5,000 from a family foundation (we had to raise a matc...
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July 14th, 2008 categories: Honolulu Real Estate 101, Rants & Riffs A Honolulu apartment owners association can positively or negatively affect the value of the units in a particular building. Here are four ways they impact your property. #1. Maintenance fees. We all know that it is desirable to have as low a maintenance fee as possible, however,     CLICK HERE TO READ THE REST OF THE POST.
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By Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
(Liberty Homes)
Dedicated to Bob Stewart (who is attending the Hawaii Association of Realtors®  2008 Pacific Rim Conference & Expo on the Island of Hawaii on September 18 & 19th, 2008 at the Hilton Waikoloa Village )   Yes, Hawaii is a State that was admitted into the Union on August 21, 1959 and making it the 50th State. Now, for those that have never even stepped foot in Hawaii.... let's clear up a few things. First of all, it's widespread near and far that Hawaii is an island paradise. Right? Full of trade winds blowing through your hair and beautiful balmy sunny skies above. We have beautiful beaches and lush green valleys and wonderful hiking trails through our mountainous ridges. Oh, yes. Hawaii is all of that and then some. We do not live in grass shacks and sip Mai Tai's with little umbrellas a...
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By Barbara Abe
(East Oahu Realty)
Sunday, June 22, 2008 was a fun day for lots of folks and their dogs, as you'll see from the photos below.  We raised funds for the newly-created Hawaii Kai Dog Park and Hui 'Ilio Hawaii, the non-profit so instrumental in making the park a reality. This year we had 350+ walkers and a great variety of dogs and (some of us) had to be there at 5:00 am to start setting up - in the dark! Photos courtesy of Monica Schwartz, who advises, "Wag More, Bark Less!" My web site has a page devoted just to pets in Hawaii - be sure and visit if you are thinking of moving to our Paradise.  Contact me for real estate on Oahu, and especially Hawaii Kai. Barbara Abe, REALTORbarbara@barbarashawaii.comwww.movetohawaiikai.com808-226-2537
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By Keahi Pelayo
(KU Realty)
July 11th, 2008 categories: Rants & Riffs Real estate is a great business. As a Realtor, I have the opportunity to represent people in the sale or purchase of one of their most significant sets. As a result, I am required to have ongoing consulting and advisory conversations concerning various aspects of a transaction. I classify these conversations into to groups, easy and hard. CLICK HERE TO READ THE ENTIRE POST
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By Keahi Pelayo
(KU Realty)
July 9th, 2008 categories: Reasons To Sell Even though this blog came from a Cleveland Ohio real estate company, most of the reasons not to own a home in Honolulu are applicable. None of these reasons may apply to you, however, read the entire list for a great laugh. CLICK HERE TO READ THE ENTIRE POST.
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By Keahi Pelayo
(KU Realty)
July 8th, 2008 categories: Reasons To Sell Today’s Wall Street Journal reported that the Fed would not require Fannie Mae or Freddie Mac to increase their reserve deposits. Thank goodness. In my opinion, much of the last major financial meltdown that occurred during the Savings and Loan crisis of the 1980s was a result of regulators increasing the deposit requirements for those companies. CLICK HERE TO READ THE ENTIRE POST.
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July 7th, 2008 categories: Honolulu Real Estate 101, Reasons To Sell Generalities. In general they can be right and in specific they can be wrong. A prime example is the general condition of most real estate markets in the U.S. Most news reports and people espouse the idea that the housing market is not doing well. In general they may be right and in specific they can be wrong. This year I have been selling lots of houses and condos. Most of my sales have been my listings and a number have been buyers that I represented. Many of my listings (not all) have been selling within weeks of coming on the market (how is this in a “soft” market?). I have found there to be three keys to having a property sell fast and thus make it a “good” market. READ IT ALL
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An article in the Honolulu Advertiser today quoted Mike Sklarz, a well-known economist on Oahu.  He said home prices are flattening, following the steep increases of the last few years, creating a stairstep effect. In the first 6 months of this year, the median price for single-family homes island-wide was $629,000, compared to $645,000 last year in the same period. For a stark contrast, consider that the median sale price in 2001 was $299,900, and in 2005 $590,000. Sales on Oahu are down 26% so far this year, and if that continues, the decline will create the lowest level since 1998. Shouldn't prices follow volume downward?  Local economists credit population growth in the islands, low unemployment, stable personal income, and low interest rates for keeping prices close to those of 200...
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By Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
(Liberty Homes)
It's 4:05 am on July 4th, 2008 and he gets up and stumbles to the bathroom. After he's finished he climbs back into bed and snuggles close to her. Just when he's starting to doze off again she startles him wide awake with a "let's get up and drive to the other side of the island to look at the sunrise"! Huh? He rubs his eyes and asks her, "Are you serious?". YUP! She jumps out of bed and hops in the shower with the poochie running after him while he turns the automatic coffee pot to 'brew' NOW. They check their emails and sip coffee for a few minutes and he hops in the shower. She gets off the pc and finishes getting ready. Cameras...check. Flip Video .....check. Put a puppy pad down and feed the dog. Check. Off we go! It's 5am and we're on the road. A cool crisp morning and it's still...
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By Keahi Pelayo
(KU Realty)
July 2nd, 2008 categories: Honolulu Condominiums A very interesting project is under construction next to Honolulu’s Lexus dealership. The developer is refitting the majority of the old National Cash Register Building at the corner of Cooke and Kapiolani. It is part of the growing “metropolitization” (my word) of Honolulu. READ HONOLULU'S LOFTY CONDO PROJECT
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By Keahi Pelayo
(KU Realty)
July 1st, 2008 categories: Honolulu Real Estate 101, Rants & Riffs “Gov. Linda Lingle signed the measure, Senate Bill 644, SD 3, HD 3, CD 1, into law yesterday to reduce Hawaii’s dependence on imported oil. It requires all building permits for single-family homes issued after Jan. 1, 2010, to include solar water heaters. READ HONOLULU SOLAR LAW POST
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June 30th, 2008 categories: Reasons To Sell I love what you could do before the tightening of the building codes. More than likely, the rail above would not be allowed under current building codes. The gaps between the leaves are too wide and a child could fall through. If this home were for sale and you purchased it, be ready for your professional inspector to note the irregularity.
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By Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
(Liberty Homes)
My belief is that ALL housing markets differ and the circumstances are going to depend on the housing markets in each of the states &  local cities; and right down to each neighborhood which will show a significant difference in number of sales and of course the sales prices too. I also believe that it is up to everyone in the Real Estate Industry to keep the market moving. With our professional attitudes shining through in all communication and contact with our clients and peers and being thorough in our process through each and every transaction are just a few points to always be aware of. How well we all perform will determine the level of service "they" will rate us as well. The most important factor to consider regarding our housing market in the United States is that it is truly ...
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