Saturday, May 2, 2009

Hawaii Kai April Real Estate Market Activity

Single Family

April home sales increased in Hawaii Kai, though prices declined. 12 single family homes sold, vs. 8 in April last year, with a median price of $707,500 vs. $994,500 last year. With so few sales, however, the statistics of median price can be easily skewed by one higher-priced home.

Year-to-date, 42 homes sold vs. 54 last year, with a median price of $740,000 vs. $917,500 in 2008.


In April, 14 condos closed vs. 19 last year. Median sales price was $450,000 vs. $523,000 last year.

Year-to-date, 49 condos have sold, vs. 71 last year. Median sales price has been $456,000 vs. $538,000 in 2008.

So far, numbers and prices in 2009 are dramatically lower than last year for both single family and condo sales.

Island-wide, single family sales are widely down, from 628 year-to-date 2009 vs. 929 sales last year, a decrease of 32.4%. The median sales price has also decreased, to $575,000 from $625,000. Condo sales on Oahu dropped to 824 through April, vs. 1,421 last year. Median sales prices decreased to $305,000 from $329,000 last year.

The island has so many distinct areas that comparing sales in Ewa Plain or North Shore to Hawaii Kai isn't very productive. We are fortunate our Honolulu Board of Realtors gives us such good statistics for each geographic neighborhood group on the island.

An example of the diversity are the numbers for new listings in April. There were 29 in Hawaii Kai, with a median list price of $879,000. This compares to 39 in Kailua-Waimanalo, at $849,000, and to 74 in Ewa Plain at $465,000.

So if you want Hawaii Kai real estate information, contact a Realtor who has lived and worked there for many years and understands our unique market.

Barbara Abe, Realtor
Hawaii Kai Real Estate Relocation Specialist

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