Real Estate Market Activity for Hawaii Kai & Oahu, February, 2011

The real estate market posted positive trends for both Hawaii Kai and island-wide in February.  A graph provided by the Honolulu Board of Realtors shows a steady increase in sales on Oahu for the past 3 years, both in February and year-to-date, and for both single family homes and condos.

Let me know if you would like a complete copy of the comprehensive statistical analysis of our Oahu real estate market. I can email you a .pdf file with charts and graphs, or you can request one on my web site.  Read a synopsis on my Active Rain blog.

Hawaii Kai real estate statistics showed a leveling off in February, but not a decline.  Both Single Family and Condo sales in Hawaii Kai were slow in February, with 7 home sales and 14 condos closed. This compares to 2010 with 7 home sales and 6 condo closings.

Single Family
The 7 sales ranged from $684,000 for a 3/1.5 in Koko Head Terrace to $1,600,000 for a 4/3.5 on a 10,613 SF lot in Kamehame Ridge.  There were 2 sales in Koko Head Terrace, and three of more than $1,000,000. These million-dollar sales were in NaPali Haweo, Spinnaker, and Kamehame Ridge.

Condos
The low sale was a FA unit in Mawaena Kai for $448,000, 3/2 with boat slip, main level. The high sale was $785,000 for a waterfront home in Koko Isle.  Of the 14 sales, 3 complexes had the highest number. Colony at the Peninsula, Kuapa Isle, and Lalea each had 2 sales.

As the peak real estate season approaches in Hawaii, I'd like to announce that I have upgraded the search features on both my web sites, http://www.movetohawaiikai.com/ (Search the MLS) and http://www.barbarashawaii.com/ (Home Search).  Please try them out and see if they suit your needs.  I'd like your feedback so I can be sure and tailor the search functions the way you, my web visitor, would like.  Aloha,

Barbara Abe, Realtor
barbara@barbarashawaii.com
808-226-2537
http://www.movetohawaiikai.com/
http://www.barbarashawaii.com/
www.activerain.com/blogs/abeb

Hawaii Kai December & Year-End Real Estate Sales Numbers Encouraging

Read my Active Rain Blog for the actual numbers, but they tell a very good story.  Prices are rising, numbers of sales are up, days on market and inventory are down.  This means for you - if you are a Buyer - you should start looking, now.  Rates have also started up, so your affordability was or is at its most advantageous for you to purchase a home or condo in Hawaii Kai.

Highest 2010 sale, Koko Kai

Highest December Sale, Portlock

Here are photos of the highs and lows for Hawaii Kai (always at least as interesting as the numbers):

Highest 2010 condo sale, Kalele Kai

Highest December condo sale, Mawaena Kai

Request reports on any condo complex or Hawaii Kai neighborhood on my Hawaii Kai web site.  Then call or email me with questions and let's start looking for a home that fits your needs.

Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
http://www.barbarashawaii.com/
http://www.movetohawaiikai.com/
http://www.barbaraabe.gmragent.com/
www.activerain.com/blogs/abeb

October Real Estate Statistics - Hawaii Kai & Oahu

Here is an overview of the real estate sales data for Hawaii Kai and Oahu during October, 2011.  

Hawaii Kai
Single Family - October
2010 - 21 sales; median sales price $836,000; median days on market 25; inventory at month end 82
2009 - 24 sales; median sales price $839,000; median days on market 57; inventory at month end 87
Single Family - Year to Date
2010 - 165 sales; median sales price $833,000; median days on market 26
2009 - 154 sales; median sales price $795,000; median days on market 56

Condos - October
2010 - 18 sales; median sales price $508,500;median days on market 19; inventory at month end 65
2009 - 14 sales; median sales price $485,000;median days on market 84; inventory at month end 52
Condos - Year to Date
2010 - 173 sales; median sales price $525,000; median days on market 19
2009 - 146 sales; median sales price $490,000; median days on market 69

Oahu
Single Family - October
2010 - 241 sales; median sales price $595,750; median days on market 35; inventory at month end 1,472
2009 - 290 sales; median sales price $604,500; median days on market 52; inventory at month end 1,660
Single Family - Year to Date
2010 - 2,496 sales; median sales price $598,000; median days on market 33
2009 - 2,160 sales; median sales price $580,000; median days on market 52

Condos - October
2010 - 310 sales; median sales price $300,000; median days on market 34; inventory at month end 2,070
2009 - 394 sales; median sales price $300,000; median days on market 54; inventory at month end 2,188
Condos - Year to Date
2010 - 3,273 sales; median sales price $305,000; median days on market 32
2009 - 2,814 sales; median sales price $304,000; median days on market 53

While the trends shown here are positive, there are 2 other statistics which are very telling for our Oahu real estate market.

Months Supply of Inventory
Single Family- October
2010 - 6.2; 2009 - 7.8; 2008 - 10.0
Condos - October
2010 - 6.4; 2009 - 7.8; 2008 - 8.1

Housing Affordability Index (the higher the #, the more affordable housing is relative to income)
Single Family - October
2010 - 66; 2009 - 61; 2008 - 51
Single Family - Year to Date
2010 - 66; 2009 - 63; 2008 - 50
Condos - October
2010 - 124; 2009 - 116; 2008 - 92
Condos - Year to Date
2010 - 123; 2009 - 115; 2008 - 92

Summary:  the forces of supply and demand are definitely at work here.  As inventory decreases, there are fewer homes and condos for buyers to consider.  Those who do choose to purchase, and many can now buy Oahu housing because it is more affordable, decide more quickly and are more qualified, so days on market have decreased.  This causes the month-end inventory to be reduced, continuing the cycle and putting pressure on sales prices.  Prices in Hawaii Kai have increased for both single family and condos year-to-date, and island-wide are holding steady.  Hawaii Kai has not been affected as much as some Oahu areas by the distressed property "glut" which has driven prices down, and these areas are reflected in the island-wide sales price statistics.

How else can I explain that buyers should start looking for homes now?!  If these figures represented one month, then you could wait and watch.  But this is 10 months' worth of activity.  It's time for you to call or email me and talk about how you can purchase that home you've always wanted in Hawaii, for permanent residency, 2nd home, or investment.  Our market trends are affecting prices for all buyers.  So Search our MLS to look at areas of interest to you, and then let's start looking at properties.

Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
http://www.movetohawaiikai.com/
http://www.barbarashawaii.com/
www.activerain.com/blogs/abeb

Hawaii Kai September Real Estate News

It looks like the downward spiral of the last 2 years for real estate prices is in full reversal, which is good news for sellers. Buyers should start looking and get preapproved for a loan.

Hawaii Kai Real Estate Statistics

Single Family (2009 numbers in brackets)
September - 20 closed sales (24), $930,000 median price ($832,500), 39 median days on market (57), 83 homes on market month-end (89)
Year to Date - 144 closed sales (130), $830,000 median price ($780,000), 26 median days on market (56)

Condos (2009 numbers in brackets)
September - 16 closed sales (19), $550,000 median price ($525,000), 40 median days on market (60), 58 homes on market month-end (56)
Year to Date - 155 closed sales (132), $525,000 media price ($490,000), 19 median days on market (69)

Visit the Hawaii Kai Market News page on my web site for details on specific communities and the high and low sales for the month.

As reported in an interview with the StarAdvertiser, a recent Hawaii Kai buyer said, "To me the time is now to buy if you can. Interest rates are at a phenomenal low, and prices are starting to creep up from the two-year trough. It's an opportune time."

I agree completely. Call or email me to talk strategy and start previewing homes.

Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com
www.activerain.com/blogs/abeb

US Home Sales Rise in August

According to the National Association of Realtors, existing-home sales rose in August following a big correction in July. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6% to a seasonally adjusted annual rate of 4.13 million in August from an upwardly revised 3.84 million in July, but remain 19.0% below the 5.10 million-unit pace in August 2009.

Lawrence Yun, NAR chief economist, said home sales still remain below expectations. "The housing market is trying to recover on its own power without the home buyer tax credit. Despite very attractive affordability conditions, a housing market recovery will likely be slow and gradual because of lingering economic uncertainty," Yun said. He added, "Home values have shown stabilizing trends over the past year, even as the economy shed millions of jobs, because of the home buyer tax credit stimulus. Now that the economy is adding some jobs, the housing market needs to steadily improve and eventually stand on its own."

First-time buyers purchased 31% of homes in August, down from 38% in July. Investors rose to a 21% market share in August from 19% in July; the balance of purchases were by repeat buyers. All-cash sales slipped to 28% in August from 30 percent in July.

Figures for the Hawaii Kai real estate market in August were very positive. Call or email me to look at some properties, while the rates remain at historic lows.

Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.barbarashawaii.com
www.movetohawaiikai.com
www.activerain.com/blogs/abeb

(resource: RealEStateChannel.com)

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:

Condos

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
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com
www.activerain.com/blogs/abeb

Hawaii Kai and Oahu July Real Estate Statistics

Oahu Single Family

Sales stayed flat for the month and over the last 2 years. Number of sales for July this year was 268, last year 266, 2008 - 268.

Year-to-date, the sales were higher than both of the last 2 years. Number of sales for the year was 1,747, for last year 1,377, and in 2008 - 1,670.

Median Sales Price also stayed almost flat for the last 3 years for July. Median price in July this year was $605,000, in 2009 $595,000, and in 2008 $620,000.

Year-to-date, median sales price is up from 2009, but not yet back to the levels of 2008. For the year, median price is $585,000, for 2009 $575,000, and for 2008 $625,000.

Days on Market show significant improvement, both for the month and year-to-date. For July, average DOM was 39, in 2009 - 45, and 2008 - 53.

Year-to-date, average DOM improved to 32 this year, down from 52 in 2009, and 50 in 2008.

Inventory of homes is also showing a steady and healthy decrease. At the end of July, there were 1,577 homes for sale on the island, in 2009 - 1,929, and in 2008 - 2,406.

These numbers equate to 6.3 months' supply this year, 9.6 months last year, and 9.5 in 2008.

Oahu Condos

Sales dropped from June and 2008. Number of sales for July this year was 320, last year 343, and 2008 - 471.

Year-t0-date, sales showed a healthy jump over last year. Number of sales for the year was 2,338, for last year, 1,718, and 2008 - 2,631. So condo sales are still below 2008 levels.

Median Sales Price for condos is below 2008, but recovering. Median price in July this year was $299,000, in 2009 $307,250, and in 2008 $332,750.

Year-to-date, the median price is slightly below the last 2 years. For the year, median sales price is $304,000, in 2009 $305,000, and in 2008 $330,000.

Days on Market dropped for condos also, both month-month and year-to-date. For July, average DOM was 36, in 2009 - 56, and in 2008 - 29.

Year-to-date, average DOM was 32 this year, down from 55 in 2009, and 39 in 2008.

Inventory of condos is also showing a steady decrease. At the end of July, there were 2,046 units for sale on the island, in 2009 - 2,479, and in 2008 - 3,017.

These numbers equate to 6.0 months' supply this year, 9.3 months last year, and 7.7 in 2008.

Hawaii Kai Real Estate Statistics

Single Family

July 2010 vs July 2009

New Listings - 40 vs 28
Closed Sales - 20 vs 19
Median Sales Price - $810,000 vs $799,000
DOM - 37 vs 31
Inventory of homes - 94 vs 119

Year to Date 2010 vs 2009

New Listings - 217 vs 199
Closed Sales - 103 vs 91
Median Sales Price - $812,500 vs $757,500
DOM - 25 vs 49

Condos

July 2010 vs July 2009

New Listings - 18 vs 23
Closed Sales - 25 vs 18
Median Sales Price - $559,000 vs $526,000
DOM - 28 to 81
Inventory of units - 44 vs 68

Year to Date 2010 vs 2009

New Listings 168 vs 166
Closed Sales - 125 vs 93
Median Sales Price - $525,000 vs $475,000
DOM - 18 vs 78

If you would like the full reports, just let me know and I can email them in .pdf format. The numbers through July look very encouraging, both for Oahu and Hawaii Kai homes. Don't wait until prices start rising again significantly to look for your Hawaii Kai property.

Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
http://www.movetohawaiikai.com/
http://www.barbarashawaii.com/
www.activerain.com/blogs/abeb

May Real Estate Market Report, Hawaii Kai and Oahu

May, 2010 showed a positive trend in real estate for both Hawaii Kai and East Oahu.

Single family homes, Hawaii Kai

Closed sales - 15, up from 13 last year
Median sales price - $885,000, up from $750,000 last year
Average sales price - $1,583,233, up from $845,123 last year
% of original list price received at sale - 93.4%, up from 89.2% last year
Median days on market - 27, down from 113 last year
Inventory of homes for sale at month end - 84, down from 133 last year

Condos, Hawaii Kai
Closed sales - 18, up from 13 last year
Median sales price - $467,000, down from $489,000 last year
Average sales price - $497,494, down from $502,423 last year
% of original list price received at sale - 97.6%, up from 93.3% last year
Median days on market - 15, down from 69 last year
Inventory of homes for sale at month end - 41, down from 87 last year

Single family homes, May, Oahu
Closed sales - 284 for 2010, 216 in 2009, 246 in 2008
Median sales price - $606,000 for 2010, $542,000 in 2009, $644,000 in 2008
Average sales price - $730,036 for 2010, $623,360 in 2009, $780,089 in 2008
Days on market - 27 for 2010, 47 in 2009, 52 in 2008
% of original list price realized at sale - 96.3% for 2010, 93.0% in 2009, 93.9% in 2008
Inventory of available homes as of month-end - 1,520 for 2010, 2,061 in 2009, 2,389 in 2008
Months of inventory - 6.1 for 2010, 10.0 in 2009, 8.7 in 2008

Condos, May, Oahu
Closed sales - 355 for 2010, 262 in 2009, 367 in 2008
Median sales price - $312,500 for 2010, $300,000 in 2009, $338,000 in 2008
Average sales price - $373,224 for 2010, $352,827 in 2009, $415,247 in 2008
Days on market - 28 for 2010, 52 in 2009, 42 in 2008
% of original list price realized at sale - 95.5% for 2010, 91.1% in 2009, 94.9% in 2008
Inventory of available homes as of month-end - 1,901 for 2010, 2,711 in 2009, 2,979 in 2008
Months of inventory - 5.6 for 2010, 9.7 in 2009, 7.2 in 2008

While prices haven't recovered, the change in inventory vs sales and vs days on market is dramatic. There are fewer properties on the market, both in Hawaii Kai and Oahu, so inventory is down, and this is reflected in the shorter days on market and increased # of sales.

Our Honolulu Board of Realtors also publishes these figures by price ranges. You can see those real estate statistics for Hawaii Kai on my web site. If you would like a breakdown island-wide for Oahu, just let me know.

Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com

Hawaii Kai Real Estate Market Statistics, April, 2010

Here are the data for the Hawaii Kai real estate market in April, 2010.

Hawaii Kai Single Family
April vs Year-to-Date
*Sales
2010 - 15 April, 53 YtD
2009 - 11 April, 44 YtD
*Median Sales Price
2010 - $720,000 April, $780,000 YtD
2009 - $700,000 April, $730,000 YtD
*Days on Market until Sale
2010 - 69 April, 50 YtD
2009 - 101 April, 87 YtD
*Inventory as of Month End
2010 - 106
2009 - 124

Hawaii Kai Condos
April vs Year-to-Date
*Sales
2010 - 22 April, 58 YtD
2009 - 12 April, 45 YtD
*Median Sales Price
2010 - $515,000 April, $515,000 YtD
2009 - $436,000 April, $460,000 YtD
*Days on Market until Sale
2010 - 37 April, 48 YtD
2009 - 93 April, 87 YtD
*Inventory as of Month End
2010 - 742009 - 100

Our Honolulu Board of Realtors publishes very complete statistics in 3 reports: Monthly Indicators, Housing Supply Outlook, and Local Market Updates. Contact me for any of these to get a complete picture of the housing market on Oahu.

Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com
www.activerain.com/blogs/abeb

Hawaii Kai Real Estate Market Report for March, 2010

The new Monthly Indicators Report from our Honolulu Board of Realtors shows a promising trend. While we aren't back yet to 2008 numbers, sales are well ahead of those in 2009.

Oahu
In March, 251 single family homes sold, vs 190 in 2009 and 272 in 2008. For condos, 352 units sold, vs 258 for 2009, and 378 in 2008. Year-to-date sales are up 36.6% over last year (single family).

Median sales price shows the same good news. In March, for single family it was $599,000, vs $575,000 in 2009, and $630,500 in 2008. For condos, the median price ws $310,000 vs $300,000 last year, and $325,000 in 2008. Year to date, the price is up 4.4% (single family).

For Days on Market, we'd want to see a lowering of numbers, meaning properties are selling faster, and that is what is happening. For single family, DOM was 72 in March, 80 last year, and 74 in 2008. For condos, DOM was 67 in March, 79 last year, and 66 in 2008. Year to date numbers are down 14.3% (single family).

Inventory also is falling. For single family in March, 1,888 units were available, compared to 2,168 in 2009, and 2,228 in 2008. For condos, 2,425 units were on the market in March, vs 2,834 last year, and 2,819 in 2009. This equates to 7.2 months in March of this year, vs 10.3 months last year, and 7.9 months in 2008 for single family. For condos, the numbers are 6.8 months this March, vs 9.3 months last year, and 6.0 months in 2008.

Here are the March numbers for Hawaii Kai real estate.
Single Family 2010 vs 2009
New Listings 33 vs 29
Closed Sales 19 vs 16
Median Sales Price $770,500 vs $750,000
Average Sales Price $861,750 vs $1,320,200
% of Original List 99.0 vs 90.8%
Average DOM 23 vs 86
Inventory 108 vs 134

Condos 2010 vs 2009
New Listings 36 vs 21
Closed Sales 13 vs 16
Median Sales Price $545,000 vs $517,000
Average Sales Price $548,962 vs $480,713
% of Original List 96.8 vs 91.1%
Average DOM 28 vs 93
Inventory 78 vs 111

As explained in the Honolulu Advertiser, "This year so far, the housing market has exceeded expectations of many who believed a recovery would be long and slow...It was the seventh straight month that there were more sales than a year earlier. Since September, the sales volume increases ranged from 13.5 percent to 46.5 percent."

Contact me for details on any neighborhood or community or condo complex in Hawaii Kai, the real estate sales, prices, and amenities. Don't miss the bargains!

Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.barbarashawaii.com
www.movetohawaiikai.com

Hawaii Kai Real Estate Market Report for January, 2010

The real estate market in Hawaii Kai is showing signs of life and renewal - inventory has risen, and sales numbers have improved.

Hawaii Kai Condos
15 sales closed, the lowest $360,000 for a 1/1 in the Mauna Luan, the highest, $738,000 for a 3/2.5 for a waterfront unit in Peninsula II.

This compares to January, 2009, when 10 homes sold, with a low of $300,000 for a 1/1 in Naniwa Gardens, and a high of $655,000 in Moana Kai, sold prior to listing.

For the last 6 months, 107 condos sold, with a low price of $225,000 for a Fee Available home in Koko Isle, and a high of $875,000 in Peninsula I.

East Oahu had the highest gain island-wide in number of condo sales over last year, 71.4%, and the median price rose to $445,000 from $434,500 last year.

Single Family Homes in Hawaii Kai
10 sales closed, the lowest $704,000 in Mariners Valley, and the highest, $1,225,000 in Triangle.This compares to January, 2009, when 8 homes sold, with a low of $637,000 in Kamiloiki to a high of $1,000,000 in Triangle.

For the last 6 months, 106 homes sold, with a low price of $515,000 in Kalama Valley and a high of $2,500,000 in Triangle.

It is hard to read much into statistical events with only 15 or 10 units, but I know personally that Realtors are busier and the phone is ringing again. There are currently 80 active single family listings and 41 active condo listings.

East Oahu sales rose 30.4% over January, 2009, and the median price declined to $619,500 from $655,000.

On Oahu overall, 162 single family homes sold, a gain of 32.8% over 2009. Median prices rose to $597,500 from $539,500, and average sales prices decreased to $700,082 from $731,000.

227 condos sold, a gain of 42.8% over last year. Median sales prices fell to $299,000 from $305,000 last year, and average sales prices also decreased slightly, to $340,433 from $354,542.

The Hawaii Ka real estate market is more active since the first of the year, as is the island in general. Search homes for sale in any Oahu area on my web site, and contact me for a detailed analysis of real estate sales in any Hawaii Kai community.

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

Real Estate Sales for October, 2009 in Hawaii Kai and Oahu

Plenty of homeowners and economists are happy with the news about October, as sales reached a 19-month high island-wide, as reported by our Honolulu Board of Realtors (HBR). Still fewer in number than the recent hooming years, volume continues to build from the low levels of late 2008 and early 2009. Condo sales as well as single family home sales increased.

The current rate of sales for both single-family homes and condominiums were both slightly up in October, which is truly encouraging in light of the current economy," said Sandra "Sam" Bangerter, president of the Honolulu Board of Realtors. "The median prices for single-family homes were up a bit and down for condominiums, but still within relatively stable price ranges. The first-time homebuyers federal tax credit has been helpful in raising buyer awareness."

There were 281 sales of single-family homes during October, or almost 16 percent more than a year earlier. It was the highest volume since March 2008, or 19 months.

• The median price of single-family homes was $605,000. Although that was down from last October's median of $625,000, it marked a high point for this year. The median is the point where half of the prices are below and half are above.
• There were 381 sales of condominiums, the most since May 2008, or 17 months.
• The median condominium price was $295,000. That compared with the year earlier median of $325,000.

Kapahulu/Diamond Head, Kahala and Hawaii Kai posted their highest single-family home sales of the year.

In October, months of remaining inventory for single-family homes fell to 4.6 from the prior year's 9.8, according to the HBR. Likewise, remaining condominium inventory fell to 4.8 months from the year-ago 8.7 months, HBR said.

The Board publishes very extensive statistics for every community on Oahu. Contact me for your free copy.

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

Hawaii Kai Relocation Packages Just Released

I've finished the Complete Hawaii Kai Relocation Package and the Hawaii Kai Condo Relocation Package with sales data through June, 2009, and updates on new waterfront condo complexes that have sold this year.

Request your free copy at my web site, MovetoHawaiiKai.com, or for condos only, the Condo Page. Or just call/email for your free copies.

If you want additional information on real estate throughout Oahu, but specifically on Hawaii Kai, just let me know. It's my home, and I've been a Realtor here for more than 20 years.

Aloha,

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

Hawaii Kai Real Estate Market Report June, 2009

Condos

15 sales occurred in June in Hawaii Kai Condos. The low price was $349,900 for a 1 bedroom unit in the Commodore. The highest was a 3 bedroom home in Kuapa Isle, on the marina.

Complexes with sales included: Colony at the Peninsula (2), Colony Marina (1), Commodore (1), Esplanade (1), Hawaii Kai Cp (1), Heritage House (1), Kaimala Marina (1), Kuapa Isle (1), Mariners Village 3 (1), Mauna Luan (3), Moana Kai (1), and Villa Marina (1).

Days on Market ranged from 254 (Moana Kai) to 8 (Mauna Luan).

Request my reports on the condo complexes and get more sales statistics on the Condo Page of my web site.

Single Family

17 sales occurred in Hawaii Kai for single family homes. The low price was $500,000 for a 3/2 home in Kalama Valley, and the highest $2,100,000 for a magnificent view home in Koko Kai.

Neighborhoods represented included: Kalama Valley (4), Lower Hahaione Valley (1), Mariners Village (1), Laulima (1), Koko Head Terrace (1), Mariners Cove (3), Mariners Ridge (1), Queen's Gate (1), Koko Villa (1), Kamilo Nui (1), Triangle (1), and Koko Kai (1).

Days on Market ranged from 317 (Kalama Valley) to 1 (Kalama Valley, Mariners Cove).

Request reports on all the neighborhoods on my web site, and read full statistics on the Hawaii Kai Market News page.

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

Hawaii Kai May 2009 Real Estate Market Activity

Single family home sales in May decreased for another month from last year's figures, to 13 from 18, and median sales prices to $750,000 from $798,000. This represented a decrease of 27.8% in number of sales,and 6.1% in median price.

Year-to-date, there have been 55 sales in Hawaii Kai, compared to 72 last year. Median price was $750,000 compared to $869,000 in 2008. These are declines of 23.6% and 13.7% respectively.

In the Hawaii Kai Condo market, 13 homes closed in May compared to 20 last year, a decrease of 35%. Median price declined to $489,000 from $559,500, down 12.6%.

Year-to-date, there have been 62 condo sales in Hawaii Kai, compared to 91 last year. Median price was $467,500 compared to $540,000 in 2008. These are declines of 31.9% and 13.4% respectively.

Harvey Shapiro, economist for the Honolulu Board of Realtors, feels that buyers are now attracted by the low prices, and also that our inventory is not inflated - as in the glut on the mainland, and so is a stabilizing force in the real estate market.

Our Board publishes very complete monthly statistical reports. Contact me for a free copy, and read my Active Rain blog for an Oahu real estate analysis.

Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com

Hawaii Kai Pending Home Sales Rise with Affordability

In my April market report, I noted that inventory was down and pending sales increased last month. The National Assn. of Realtors reported this week that the trend is nationwide.

The Real Estate Channel states that "pending home sales rose with many first-time buyers taking advantage of historically good housing affordability conditions." Lawrence Yun, NAR chief economist, said it should take a few months for the market to gain momentum. "This increase could be the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit, which increases buying power even more in areas where special programs allow buyers to use it as a downpayment," he said.

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said the increase in buying power is quite remarkable. "Compared to a year ago, the typical family can pay much less in mortgage costs for the same home, or buy a better home without necessarily increasing their monthly payment," he said. "For buyers who've been on the sidelines and have good jobs, the market has never looked more favorable. Homeownership has always offered immediate benefits and long-term value, but the advantages in today's market are unique."

Certainly our Hawaii Kai market has benefited from the first time buyer programs and low interest rates offered now for mortgage loans. It's still a buyers market and there are wonderful real estate opportunities in our part of East Oahu. Contact me for ideas.

Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com

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.

Condos

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
http://www.movetohawaiikai.com/
http://www.barbarashawaii.com/
barbara@barbarashawaii.com
808-226-2537

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

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

Real Estate Market Statistics: Hawaii Kai, April, 2008

View from the most expensive home on the market currently, in the Portlock area of Hawaii Kai, looking toward Maunalua Bay.

Boat slip at the most expensive Hawaii Kai condo currently on the market, the Kalele Kai complex, looking southwest to the ocean.

Here are the real estate sales statistics for Hawaii Kai for April, 2008 compared to last year:

Single Family Homes in Hawaii Kai

in 2008

8 sales in April with a median price of $994,500

54 sales year-to-date with a median price of $917,500

in 2007

19 sales in April with a median price of $859,000

68 sales year-to-date with a median price of $839,000

Conclusions: the number of home sales in Hawaii Kai has decreased dramatically, but prices are holding.

Condos in Hawaii Kai

in 2008

19 sales in April with a median price of $523,000

71 sales year-to-date with a median price of $538,000

in 2007

22 sales in April with a median price of $539,000

70 sales year-to-date with a median sales price of $542,500

Conclusions: not much change from last year in the condo market for April in Hawaii Kai.

For details on actives, sales, and escrows, broken down by price, visit my web page on the Hawaii Kai real estate market: http://www.movetohawaiikai.com/Hawaii_Kai_Market_News/page_1893904.html

The Honolulu Board of Realtors releases very comprehensive sales statistics for the entire island of Oahu monthly. Please contact me for a copy.

Barbara Abe, REALTOR

barbara@barbarashawaii.com
http://www.movetohawaiikai.com/
808-226-2537