Luxury Condo in Honolulu, the Pinnacle is almost done!

Looking for a luxury condo in Honolulu? I have a client moving into the Pinnacle next week, after waiting over 8 months past the scheduled closing date. There are a few buyers who have moved in already, even though some of the common areas are not completed.

This building was the center of a lot of media attention, with their illegal immigrant workers and their constant delays. However, with all that taken care of, the building now looks fantastic. Unit in the Pinnacle are about $1.5-$2.5million for a whole floor, which is what most people have there. And with over 2500sqft, these luxury condos are bigger than a lot of houses in Oahu!

The building has a beautiful meeting room, BBQ area, pool, exercise room, massage room, and more, but the best feature is the location. You can literally walk to anywhere in downtown Honolulu from here.

In fact, people that work in downtown won't need to drive anywhere if they don't want to. Within walking distance is everything you need in Hawaii, including the ocean, which is about 4 blocks down. This building would be like buying a condo in center of NY city or the financial district in LA, and it is a totally unique product, in that there are only about 30 units in the entire building.

Now you can say whatever you want about the real estate market in Hawaii or on the mainland, but a luxury condo in the heart of downtown Honolulu - this has to be one of the best investments you could make right now. Our city and state are growing constantly, and with traffic only getting worse every few weeks, the location of this building could not be better.

Bonus - each whole floor unit comes with 4 parking spots, so you can rent out a spot or two to someone who is commuting to downtown. I would think you could get $400/month for each spot!

Singe story Oahu condos - what retirees look for

It's official, the Baby Boomer condo Boom is beginning in Oahu . Most people don't know it yet, since the influx of retiring Boomers can only be seen by people like me, people who are talking to them months in advance, sometimes years in advance, to plan their retirement in Hawaii.

This week I received calls from a few different retirees looking for a place in Oahu sometime this year or next. And it's funny, they all want the same thing: A one story newer condo in East Oahu for just under a million bucks.

As people age they get tired of stairs, so a regular 2 story townhouse just doesn't appeal to them anymore. Sometimes a condo in a highrise or lowrise is ok, as long as it has an elevator. Also they get tired of maintaining a house, so they like the idea of an association taking care of the hard work outside. Finally, they really like peace and quiet, so an association that makes sure the neighbors stay in line is very appealing.

For just under $1million you have several options in Hawaii Kai. There's the Peninsula (right) which has a few single level townhome style properties for about $700k right now. These are very nice and built in 2004, with about 1400sqft.

Then you have the Colony, which is also in the Peninsula but is a 4 story building. Some people don't like it but I think it's pretty great. Some of the units have a nice marina view, and the amenities are great.

As you drive into Hawaii Kai from Diamond Head, the first big building you see is Mountain Terrace, a high risewith larger condo units and fantastic ocean views. These can be about 1650 sqft and start around $700k for a decent unit, up to about $900k. The bummer is the maintenance fee is $800/month right now and probably going up forever. That's what happens as buildings get older - more maintenance.

Another great option is the Esplanade, which has nice ground floor units that walk out the marina, and are priced cheaper than Mt Terrace. But one of my favorites it Kalele Kai (pictured right). If you can get a unit in there that doesn't face the street or the Safeway parking lot, then you've got a gem. They run about $1million for the units with a marina view, but the building just seems to be very well built and so it's worth the money. With units as big is about 2000sqft, they feel like a house within a building.

A lot of the Boomers looking at these units are paying with cash, since they have spent a lifetime saving their money. So they're not as effected by the mortgage crisis going on. In fact it could help them since they have more buying power with prices down around the country.