Oahu real estate

Found 163 blog entries about Oahu real estate.

People often ask me about remodeling in Hawaii. Is it hard to find a good contractor? Yes.  Are materials and labor more expensive?  Yes. But you can do it and you should. I've done several remodels now, and this one is my favorite.  

A couple years ago I bought a foreclosed home on the North Shore from a bank.  The process of buying it was a crazy ordeal that took over a year to complete, dealing with title problems and termites.  But once I finally closed on the purchase, the real work began.  This is what the front of the house originally looked like. The trees and grass were overgrown, and the carport had a very plane look to it. 

Original Front of HouseWe removed the center post in the carport, added a nice door and some wood to give it a board and batten look, and

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     As I'm looking at the statistics that just came out from the Honolulu Board of Realtors, I'm laughing! Mainly because at the beginning of the year I actually thought that maybe the market may start to slow down in 2016 (see my article from March 2016 below in the blogs)... Boy, was I wrong!

      Not only did our market continue to soar in 2016, but December was the 2nd highest month for # of sales. December is usually a bit slower as expected with the Holiday's.

 

     The median home price for Oahu went up from $700K to $735K. And the median condo price went up from $360K to $390K respectively. The Honolulu Board of Realtors calls this "stable". The average days on market for both SFH and condo's went down (that's a good thing) to 18

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     As most of you know, Pantone, Benjamin Moore and Sherwin Williams each year, pick a "Color of the year" that influences trends for interior design and fashion. Following these color trends can be very risky if you plan on selling your home within the year... This year Pantone has picked a color called "Greenery." Its a very vibrant, yet not neon green. I might even call it Spring Green. It's pretty in small doses (pillows, throw blankets, or other decor), a wall of this color may be a bit overpowering though, and only appeal to a small number of buyers

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     Benjamin Moore has picked "Shadow 2117-30" as their color of the year for 2017. It's a VERY dark navy blue with some shades of purple in it. It's a beautiful color for a dress, a men's

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        Artist Rendering for new development on Kapiolani 

       A Los Angeles based development company (Salem Partners) recently filed a sewer connection application for the "Heald College Plaza Development" block of 1470, 1488, and 1500 Kapiolani Blvd. to build a 500 unit, high rise condo-hotel building which would be just adjacent to Walgreen's and across from Ala Moana Center.

      The building, once completed will consist of 301 studio, 122 one bedroom, 71 two bedroom, and 6 three bedroom units.

      They will be using locally based engineering and planning firms and also have other building in the works near the convention center.

      As soon as I have more information about purchase price and pre-sales, I'll add it to this blog.

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      It seems that prices are still continuing to rise in the residential housing market here. As we begin to come upon the "busy season" of sales, there are some interesting trends to note as we compare last years statistics to this years.

    The median home price for single family homes has risen again to $725,000 from last years $700,000. That's a 3.6% rise. Last year at this time the median home price had risen 7.2% from the previous year....could we finally be slowing down? The end of the year statistics will show us a better picture, so stay tuned for that in the months to come.

    The median home price for condo/townhome's also rose to $385,000 from $380,000, respectively. That's only a 1.3% increase from last year, compared to the rise of

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Would Hawaii real estate be so expensive if not for foreign investors?

Probably not. Consider these facts:

The average sale price of homes sold to foreign buyers from 2008 to 2015 was $785,604 and the average sales price for mainlanders was $630,390. By comparison, the average sale price of homes sold to local buyers over the same period was $478,189.

So foreign buyers on average have spent 65% more than local buyers, while U.S. Mainland buyers have spent 32% more than local buyers. Also worthy of note is the quantity of homes being acquired: more than a quarter of homes sold in Hawaii are purchased by non-Hawaii residents. On neighbor islands, nearly half the homes are swept up by out-of-state investors

These and other findings were

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New loan regulations may have had a negative impact on the U.S. real estate market, but national figures differ noticeably from the very resilient Oahu real estate market.

Reuters reported last month that “U.S. home resales posted their sharpest drop in five years in November,” a 10.5% drop from October 2015. While some may see this is a potential warning sign for the health of the U.S. economy (especially after last week’s stock market plunge), NAR economist Lawrence Yun suggests that new regulations on paperwork for home purchases may have driven the decline.

What new regulations?

If you’ve been looking into real estate recently, you may have seen the acronym T.R.I.D. TILA-RESPA Integrated Disclosure Rule Implementation (TRID) went into effect

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Hawaii Kai is known for its great location on the south-east corner of Oahu, easy access to the ocean, and the quality of life. You can spend between $500K, up to just under $14 million on a home here. Here is a brief overview of Hawaii Kai.

In 1961, Henry J. Kaiser entered into a long term land lease with Bishop Estate, that would allow him to develop a large part of east Oahu (Hawaii Kai) into residential housing tracts and commercial properties. He had begun dredging, widening and deepening the Kuapa pond, which would later become canals, so that homes could be built along the waterways and boats could travel through them as well. Hawaii Kai was Oahu's very first planned community. Ironically, Kaiser had moved to Hawaii just 5 years prior, to

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Lalea in Hawaii Kai is a town home complex located at the end of Hawaii Kai Dr, just after you've passed the Hawaii Kai post office. It is a 29 building complex with 293 units within it. There are 1, 2, 3, and 4 bedroom units which creates a large range of buyers that may consist of singles, couples, and families. Units range between 750-1500 sq ft. Pets are OK (please verify). They were built in 4 stages that each took a year to complete between 1996-1999 and built by Castle & Cook Homes Hi.

 

                           

There are many things that make Lalea standout in the condo/townhome scene in Hawaii Kai: Their private park, heated pool, clubhouse and lots of private streets for walking with the family and pets. And, with all of the

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     As the summer selling season draws to a close and we start to approach the holiday season, I wanted to give you an idea of our local market and the trends that are happening now compared to last year.

     For single family homes and condo's, inventory is down in most area's which will tend to drive up prices. When X number of buyers are looking at Z number of houses, and X is greater than Z, that means bidding wars ensue (from buyers) which always end up pushing sale prices higher.

     For single family homes, median sales prices went up this year 6.45% compared to the median sales price in 2014. The average days on market went up 3 days, to 25 days on market, compared to last years 22 DOM.

     For condominium/town homes, the median sales

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