Hawaii Real Estate Blog 
Oahu Home prices will reach $1 million median price by 2020
Wednesday, March 10th, 2010 at 3:22pm. 33 Views, 0 Comments.
Some excerpts from a very interesteding article in the Advertiser this week below. Basically, The market is on its way up and the median single-family home could be more than $1 million by 2020, said renowned Honolulu economist Paul Brewbaker. He has been right on the money on every prediction he has made about our market in the last decade.
Last month, single-family home sales rose 21.7 percent to 157 from the year prior's 129. Condo sales soared 44.4 percent to 231 from the 160 in February 2009. The median price paid for a condominium rose 0.3 percent to $298,000 from the last year's $297,000.
Oahu's housing market bottomed out in 2009 with prices for homes around $560,000 last May and condo prices around $300,000 last…
Hawaii hotel occupancy continues to improve
Wednesday, March 10th, 2010 at 2:14pm. 11 Views, 0 Comments.
Good news as the economic world didn't collapse as much as people thought it would in 2008-2009. From today's PBN: Hawaii hotel occupancy grew 3.4 percentage points to 66.5 percent in January — the fourth occupancy increase in the past five months.
However, as compared with the same month last year, room rates continue to slide — down $21 to average $176 a night. That meant a $7 drop to $117 in revenue per available room. Overall, statewide room revenue in January fell by an estimated $9.3 million to $206.7 million.
"The positive January 2010 results reflect a continuation of the recovery trend that began during the last quarter 2009,” said Joseph Toy, president and CEO of Hospitality Advisors. “Preliminary February results…1816 Kilohi st - SOLD! Multiple offers, WAY over asking price!
Tuesday, March 9th, 2010 at 9:43am. 27 Views, 0 Comments.
UPDATE: This house in Kalihi valley that I listed
last Monday had about 25 showings in 1 week and is now in escrow well over the asking price of $550k. Most of the offers were above asking, and none were very much below the price.
Before listing it, we had the house painted and cleaned, and installed new fixtures, new toilets, new lights, and some new flooring. We also had all the rubbish removed.
Then we had the survey done, ordered a permit package, and completed the seller's disclosure.
Doing all the hard work up front means the sellers can now relax and wait for the closing date (read: check.)
Congrats to my sellers on getting their home sold quickly and above the asking price!
Continental adds new Oahu and Maui
Sunday, March 7th, 2010 at 12:20am. 32 Views, 0 Comments.
Great news for the tourism industry in Hawaii! According to the Advertiser today, Continental Airlines will launch three new flights from Honolulu and Kahului on Maui to the West Coast starting Sunday.
The flights will be from Maui to Los Angeles and Orange County and a flight from Honolulu to Orange County. Continental will operate the flight with a Boeing 737-800 with 160 seats. They will start a second daily flight between Honolulu and Los Angeles on Sunday.
The new Maui-Orange County flight will operate four times a week. Continental will use a Boeing 737-700 that seats 124 passengers on the new route and plans to increase the service to daily during the summer.
Continental also will use a Boeing 737-700 that seats 124 passengers on the route.
In Escrow - Beautiful Launani Valley in Mililani
Thursday, March 4th, 2010 at 7:03pm. 49 Views, 0 Comments.
For about $550,000, you can buy this 4 bedroom 2.5 bath home in beautiful Launani Valley. Actually, you can't now because some clients of mine are now under contract for it. It got listed Tuesday morning and had 2 offers by Tuesday night.
Hidden away in the hills of Mililani, this litte neighborhood, called Woodcreek, has some of the most amazing tropical views you will ever see on Oahu. This home is right on a running creek, so when it rains you feel like you're in a tropical rain forest, because basically, you are. With only the forrest behind this house, it's like a tropical getaway!
Congrats to Russ and Liz on having their offer accepted on this beautiful home last night!
Check out the view out their back yard.
New listing, 1816 Kilohi st for $550k - TONS of showings, multiple offers
Wednesday, March 3rd, 2010 at 12:09pm. 54 Views, 2 Comments.
I just listed this house on Monday, and wow, the activity has been crazy. We had 2 showings the first afternoon, 5 showings the 2nd day, and already a dozen requests for the weekend.
The first offer is coming today (I'm told) and I have meetings with other clients who want to write offers as well.
Why is this house so popular? 1) It's clean. 2) It's priced under $600k. 3) It's in Kalihi Valley, located just 10 minutes from downtown Honolulu.
I have been saying it since March 2009, the market is definitely rebounding.
MLS# 1002700. 3bed 2 bath, built in 1958. 1300ft+ under roof, nice grassy yard, 2 car carport.
Just painted, cleaned up, ready to move in! New fixtures, new toilets, new lighting. Bring me an offer above…
Case Study for Spiderable IDX
Friday, February 19th, 2010 at 10:44pm. 307 Views, 4 Comments.
As I mentioned on Geek Estate Blog, I've decided to do a case study to
determine the effects of having a spiderable IDX on my site. Since my
site doesn't have a lot of authority just yet, I've asked Morgan Carey
of Real
Estate Webmasters to show me data from other clients' sites (with
their permission), so I could see how sites with high authority do with
their spiderable IDX.
I had Analytics installed at the same time as my spiderable IDX, so
unfortunately, I can't show you a before/after with mine. I have
however, been given permission by Nashville Real Estate Agent, Gary Ashton to
show his before & after results. Gary's got a high authority, high
ranking site, that's been around for about 4 years. However, he only had
…
Is there a housing shortage coming in 2011?
Tuesday, February 16th, 2010 at 8:13pm. 100 Views, 0 Comments.
At least one guy thinks so, and he's featured in this article in Forbes.
""We need one and a half million houses per year just to keep up with population growth," Wesbury said in an interview with Steve Forbes.
"And then if you throw in, you know, fires and tear-downs and just worn-out properties, we need 1.6 million or more per year. Right now, we’re down to about six and a half, seven months’ inventory whether you look at new homes or existing homes."
"Housing completion numbers also contribute to this dire picture, with December 2009 privately owned housing completions reaching a 768,000 seasonally adjusted annualized rate. That’s down 11.2% from the 865,000 completions in November and down 25.3% from the 1,028,000 completions in…
Upcoming listing - $550k Kalihi Valley
Friday, February 12th, 2010 at 2:25pm. 116 Views, 0 Comments.
This cute old house in Kalihi Valley will be on the market on March 1st. Right now we are painting, fixing things, removing clutter, and redoing the bathrooms a bit. At about 1400 sqft (not all permited) the house is a bargain at $550k. I put the sign up last night and I've already recieved 2 calls this morning.
Offers will be reviewed March 10th or later.
This hous is located just a mile off Likelike hwy on a quiet street. The owners have been in the house since 1958, when it was first built. Since he was a carpenter, he kept the house in very nice condition.
When it is available it will have new paint, new toilets and fixtures, new lights, and best of all, freshly polished wood floors that were protected by a layer of carpet for over 30…
Honolulu Rail - pie in the sky estimates on number of riders
Friday, February 12th, 2010 at 2:19pm. 72 Views, 0 Comments.
How many people are actually going to ride the Rail? The City of Honolulu says that 97,000 people are going to ride it, and that is a pure lie. Even in Houston Tx, where the population is 5 times higher, and the traffic far worse, only 38,000 people ride the rail system.
Will Honolulu succeed in getting approximately 6 times higher percentage of rail riders? Hmmmm.. Take a look at this chart created by Panos Prevedouros, civil engineering professor at UH, and candidate for Honolulu Mayor (hopefully).
The numbers are absolutely clear - the number of estimated riders of the Oahu Rail system is a total fabrication by the current Honolulu City administration. The city should cancel this underfunded, over hyped project which is not going to cut…
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