Monday, September 6, 2010

Hawaii Kai Home Sales, August, 2010

Real Estate sales in Hawaii Kai in August continued the upward price trend of the last few months. Nothing is really more graphic than this chart provided by Altos Research (on my web site, Market News page) showing Honolulu:

Prices for HONOLULU


In August, 2009, 18 condo sales ranged from $378,000 (9th Floor, Commodore, 2/2) to $740,000 (3/2, waterfront, Kala Kai Marina).

In August, 2010, 15 condo sales posted a low of $365,000 (16th Floor, Heritage House, 2/2) to $1,030,000 (marinafront, Kalele Kai, 3/2.5).

Kalele Kai, the prestigious complex in West Marina, has not seen a sale over $870,000 in the last year. This complex routinely commands the highest sales prices of condos in Hawaii Kai. So it is significant that this home - oversized at 2210 SF interior with 674 SF wrap-around lanai - broke the million mark again.

Single Family home sales also show significant price increases.

15 sales in August, 2009 ranged from $550,000 in Koko Head Terrace (4/2/2, 1904 SF) to $1,135,000 in Triangle (4/3, 2,005 SF, lot 10,822 SF).

This year, in August, 2010, 21 sales ran from $517,000 in Kalama Valley (attached home, 3/2, 3,914 SF lot, 1,252 SF home) to 2 sales at $2,700,000. One was a beautiful view home in Koko Kai, 5 bedrooms/4.5 baths, 4,859 SF interior, 21,818 SF lot. The other was an oceanfront in Portlock, on a 17,515 SF lot, built 1944.

With the economy still struggling, no Realtor can say with assurance that we've turned the corner. But prices have undeniably increased in the last 12 months in Hawaii Kai. Good news for sellers - if you are a buyer, contact me now to start looking at homes for sale in Hawaii Kai.

Barbara Abe, Realtor

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