Hawaii Kai Sales Statistics May, 2008: Single Family Homes

The Honolulu Board of Realtors statistics for the 1st Quarter of 2008 show 46 sales in Hawaii Kai, with a median sales price of $865,300. This compares to 51 sales in the 4th quarter of 2007, with a median price of $919,000.

Median list prices were considerably higher: $1,269,700 for the first quarter of this year, and $1,314,200 for the 4th quarter.

In May, 2008, 18 homes sold in Hawaii Kai, with a price range from $630,000 to $2,100.000. Averages for sold homes were 2,076 square feet, 4 bedrooms/3 baths, 96% list:sales price, and 93 days on market.

Our 2008 sales year so far in Hawaii Kai has been very robust, with 71 sales. Averages were 2,305 sq ft, 4 bedrooms/3 baths/96% list:sale price, and 84 days on market. Prices ranged from $551,000 for a home in Kalama Vally to $6,400,000 for a home in Koko Kai.

I specialize in Hawaii Kai, have lived here, and helped buyers and sellers of real estate in Hawaii Kai for more than 20 years. Contact me for full market statistics.

Barbara Abe, REALTOR
http://www.movetohawaiikai.com/
barbara@barbarashawaii.com
808-226-2537

Like to Walk? Here's a New Site to Test Your Neighborhood's Walkability

http://www.walkscore.com/ is a new web site that measures your Hawaii community's walkability, on a score of 0 to 100. The score is based on the number of businesses, parks, schools, and services, within walking distance of a given address.

I tried a few in Honolulu and was amazed at the results, because usually Hawaii neighborhoods are the last to be added to mapping sites. My office location got a score of 60, and an address on Kapahulu a score of 85. The map and text show names, addresses, and a street map marking the destinations.

The site will soon add Google street view, which will allow users to actually see the streets they would walk.

Co-founder Matt Lerner says of his venture, "The goal is simple: to promote walkable communities." And that translates to a healthier population.

With our wonderful weather, and the views and variety of outdoor activities, using a site that tells you if something is within walking distance might be helpful in your search for Hawaii real estate. But when it comes to deciding on real estate opportunities and market conditions, you'll want a local realtor to give you insight into specific Hawaii neighborhoods.

Aloha,

Barbara Abe

Realtor specializing in Hawaii Kai

http://www.movetohawaiikai.com/

barbara@barbarashawaii.com

808-226-2537

Real Estate Condo Activity for Hawaii Kai, May, 2008

The real estate condo market in Hawaii Kai in May, 2008 was down from 2007. In May, 20 units sold compared to 36 last year, for a median sales price of $559,500 compared to $565,000 in 2007. Year-to-date, 91 condos have sold vs. 106 last year. Median sales price this year has been $540,000 against $545,000 in 2007.

Statistics for East Oahu are slightly different. Sales volume of fee simple condos for East Oahu declined 16.9% in number of sales, from 148 to 123; median sales price increased 4.3% from $517,500 to $540,000; average sales price increased 13.4%, from $586,617 to $665,126.

Sales of leasehold units in East Oahu weren't quite as robust. 15 sales closed in May compared to 16 last year, for an average median sales price of $475,000 - down from $528,500 last year, and an average sales price of $502,605, up from $500,878 in 2007.

So, while numbers of sales have decreased in 2008 compared to the same period last year, prices are still modestly increasing in East Oahu, and holding steady in Hawaii Kai.

Inventory is increasing this year - in May, 107 condos were active in Hawaii Kai, vs. 95 in April, and 74 in May, 2007. East Oahu as a whole has 7.2 months of inventory available, against 3.1 months last year.

Current real estate listings for Hawaii Kai, as of June 1, range from $409,000 for a 1-bedroom unit in the Esplanade, to $1,675,000 for a 3-bedroom home in Kalele Kai. I'm familiar with all of the Hawaii Kai condo complexes, their amenities, and management, and can help you make a sound investment decision on Hawaii Kai property.

Visit my Hawaii Kai real estate market analysis page on my web site for full details: http://www.movetohawaiikai.com/Hawaii_Kai_Market_News/page_1893904.html

The Honolulu Board of Realtors issues very complete statistics for monthly sales on Oahu. The statistics provided here are courtesy of HBR. Contact me for a free copy:

Barbara Abe, Realtor for Hawaii Kai
barbara@barbarashawaii.com
808-226-2537