Hale Ka Lae in Hawaii Kai Ready for Buyers

The new luxury condominium project, Hale Ka Lae, has held its public open house and broker's open, and is now accepting statements of interest from buyers.  Please let me know if you want more information.  The developer is letting buyers bring their own agents, if they are represented by the Realtor from their initial visit.

"Ka Lae" in Hawaiian means "the point" which could refer to the location, on the point of Hawaii Kai Drive, or a more symbolic meaning for the development itself.

Community features will include

• Lap pool
• Lagoon-style pool
• Extra storage, big enough for surf boards
• Private theater with stadium seating
• Indoor golf simulator
• Acoustically-insulated entertainment center
• State-of-the-art fitness center
• His and hers saunas
• Rooftop lanai with BBQ dining pavilions
• Outdoor lounge area with jacuzzi
• Private dining room
• Library
• 3 visitor guest suites
• Adjacent to 5-acre park
• Concierge services
• Gated and secure

There will be 4 individual enclaves with their own elevators, outdoor lanais, central air, energy-rated windows, top-of-the-line interior materials, gourmet kitchens, and luxurious baths. 

Hale Ka Lae will also be pet-friendly!.

I'll keep you informed of updates, and please call or email me if you have an interest.  I'd be pleased to email you copies of the floor plans and more details on the residence features.

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

Beware of Buying a Foreclosure, even in Hawaii Kai

We've been lucky in Hawaii Kai the past couple of years, because our foreclosure rate has been lower than in other parts of Oahu. But we have our share, and this is a tale of what buyers experienced after making an offer which was accepted on a Hawaii Kai condo.

The condo had been foreclosed on, so the buyers were dealing with a bank-owned property. The electrical and plumbing systems needed a lot of repair, but they didn't worry about those, or the fact that none of the appliances worked.

When you make an offer on a bank-owned home, you have the normal time to hire an inspector and do thorough due diligence. If you make an offer at a foreclosure auction, you will need to make sure the inspection is done before auction and any questions you might have answered before you bid.

Fortunately, my buyers hired a home inspector. First, when he examined the deck, his foot went through! Well, they thought they could fix that.

In this complex, where the living room joins the covered deck, the design goes down a step, about 5 inches. Many owners have left this step when they remodeled - it does create the feeling of entering a separate room. But in this unit, the previous owners had filled the height difference up with concrete, so it was the same level as the living room. Unfortunately, this made the ceiling too low and not up to code. Now my buyers were looking at major remodeling.

In addition, the sliding door to the outside from the deck was at the original floor level, so there was a gap between the end of the built-up floor and the door.

You can guess the ending. The buyers cancelled, and the bank lost a sale. The moral - beware of foreclosures and be sure and do a thorough inspection. Hire a professional who knows the building codes. And don't get emotionally involved with the property - at least until after it passes your inspection!

I've been selling real estate in Hawaii Kai for more than 20 years. Call or email if you have any questions about property here, the condo complexes or neighborhoods. I can recommend home inspectors and professional remodelers who will give you honest estimates of work involved.

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

Hawaii Kai Condo Market may face challenges

Proposed changes to a federal mortgage loan program that now accounts for a substantial number of all new home loans have Hawai'i lenders concerned that many condominiums in the state could become ineligible for such lending. The proposed changes stem from an effort by the U.S. Department of Housing and Urban Development to reduce fraud and risk in lending through the Federal Housing Administration.

The Mortgage Bankers Association of Hawaii fears that 545 Hawai'i condo projects will automatically lose their eligibility for FHA lending next year under revised rules proposed by the agency.

FHA loans are available for single-family home and condo purchases. For condos, the loans are limited to projects that meet certain requirements, such as those with no less than 50 percent of units occupied by owners, no more than 15 percent of units delinquent on association fees and no more than 10 percent of units owned by one investor. But in some cases these requirements haven't been reviewed after condos obtained initial FHA lending approval years or decades ago.

Under proposed rule changes, all condos automatically would be removed from FHA's approved lending list two years after a project was placed on the list. In Hawai'i, that would mean virtually every condo project on FHA's approved list, or 545 projects, would be removed.

The Mortgage Bankers Association of Hawaii had asked that previously approved condos in the state remain on the FHA's approved list for two years to allow time for more orderly reapprovals. Initially, the removal was slated to take effect Dec. 7 upon implementation of the new rules. However, recently the agency granted a grace period of one year before condos with old approvals will become ineligible for FHA loans unless they are reapproved.

Contact me for more information on how this proposed change may affect your purchase or sale of a Hawaii Kai condo.

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

(resource: Honolulu Advertiser)

Hawaii Kai Estates Available

Hawaii has some of the most stunning architecture and residential home locations of any place in the world. The architects have found ways to highlight the ocean, the views, and the ambience of living in our tropical paradise. Oahu, because of the density of the population, has the largest selection of beautiful oceanview homes of any of the islands.

The highest priced of the current active listings in Hawaii Kai (excepting the Kaiser Estate, in a class and price range by itself) as of May 21 are 3 homes in Koko Kai. I have always felt Koko Kai is the very best example in Hawaii Kai of our gorgeous estates. Rising on the slopes of Koko Head above Portlock Road, this magnificent subdivision with wide streets offers breathtaking views over Maunalua Bay to Diamond Head.

Most of the 187 homes were custom built in the early 1970s, and have been remodeled and highly upgraded. The lots are quite large for Hawaii, from more than 10,000 sq ft to roughly an acre and overlook rocky cliffs falling into the Pacific.

Nearly all the houses in Koko Kai have wonderful views, some 180 degrees from ocean, to the Bay, to the mountains. The area is a perfect spot to watch the migrating humpback whales in the winter.

Here are photos of the 3 top listings currently available:





Pretty spectacular aren't they? I love living here and helping buyers enjoy these beautiful homes and the lifestyle of Hawaii Kai. Contact me for a preview or more details.

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

Here's a new service from RealBird, the folks who brought us high-quality mapping, listing syndication, and Virtual Tours. We can create any search, any zip code, price range, type of property, etc. - very versatile.


The search below shows single family homes for sale in zip code 96825, any price. they may be in the MLS, but the data is pulled from Google Base, so there will be some properties you probably haven't seen on other searches. Let me know if you like the service.


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

Problems Continue to Plague the Hawaii Superferry

The Alakai, Hawaii's Superferry, is out of commission - again - for drydock maintenance of a damaged auxiliary rudder system. For 8 consecutive days in January-February, service was discontinued because of bad weather and the discovery of cracks in the auxiliary rudders.

While many residents welcomed the addition of an alternative method of transportation between the Hawaiian Islands, the Superferry has been dealing with numerous problems since its inaugural voyage: political, legal, and weather, and the animosity of many islanders, especially on Kauai.

Scheduled to resume service March 3, the ferry will issue refunds for cancelled trips and special fares on future voyages. President and CEO John Garibaldi said the ferry so far is averaging only 150 bookings a trip, when it can hold 866 people and 282 cars.

Hawaii in the winter is host to visitors from around the world who come to enjoy the warmth and sunshine. Real estate sales are still very strong throughout the islands, and especially in East Oahu, where I specialize. If you are planning a trip to the islands, contact me for current information on the real estate market, and the status of the Superferry, the Alakai.

Barbara Abe, REALTOR

barbara@barbarashawaii.com

http://www.movetohawaiikai.com/

800-999-6090

808-226-2537

Hawaii Heroes

The University of Hawaii Warriors football team, all of them, are truly heroes to us. Colt Brennan, quarterback, was one of the 4 finalists for the Heisman trophy, the team had 5 All-Americans, and Coach June Jones is a finalist for Coach of the Year.

The Warriors were the ONLY NCAA Division I team to go undefeated this year.



Aloha Stadium was completely sold out for the last few games of the season, almost 50,000 fans, and millions more were cheering the team on TV. While the UH team may not get all the credit it deserves, because the team didn't play "top ranked" schools, or because Brennan missed a couple of games, their record speaks for itself, as do all the NCAA records Brennan broke this season, as do the scores of the 3 games in which he led the team from behind to win. He will be missed greatly, but 2nd quarterback Tyler Graunke, who will be a Senior, is ready to take over.

Congratulations to you all!

Market Activity in Hawaii Kai as of 12.14.2007

Numbers are down only slightly for sales and active listings in Hawaii Kai for the past month. The market continues strong, as buyers place a good value on homes in the east part of Oahu.




120 sales took place in the last 6 months for single family:
37 under $799,999
40 between $800,000 - $999,999
18 between $1,000,000 - $1,199,999
21 between $1,200,000 - $1,999,999
4 over $2,000,000 - the highest sale was $15,900,000

There are 119 active listings as of 12.14, and 19 under contract.

For condos, 124 sales occurred in the last 6 months, ranging from $300,000 for a leasehold unit to $1,400,000 for a 3 bedroom home in Kalele Kai.
There are 78 active condo listings, and 22 under contract.

Call or email me for questions and a complete market analysis of Hawaii Kai real estate. Barbara Abe, www.movetohawaiikai.com, barbara@barbarashawaii.com , 800-999-6090, 808-226-2537.

Hawaii 2050 Sustainability Plan Draft Released

Hawai‘i is a unique and beautiful state – for many, it is an ideal place to live and is second to none for providing a preferred quality of life. Because our future is so important, and the ecosystem so fragile, I'd like to quote from the Hawaii 2050 Sustainability web site, to help generate feedback on the draft plan:

"The lack of affordable and adequate housing; steady deterioration of our public infrastructure – including roads, parks, schools, health care facilities and other buildings; traffic gridlock and congestion on most islands; and population growth increasing at a rapid rate, particularly on the neighbor islands – all raise questions about the long term limits of growth on these islands and the need for all of us to begin planning and acting now to ensure a positive and sustainable future for the people of Hawai‘i, especially our children, youth, and future generations.

In developing a plan to create sustainable communities throughout our state, Hawai‘i 2050 seeks to foster dynamic, cohesive, fair and collaborative communities where residents can reach their personal aspirations. Issues related to population growth, carrying capacity, governance, justice and equity, and living within an island-based community will be addressed.

The Draft Hawai‘i 2050 Sustainability Plan is now open for public review and comment. We want to hear from you about the plan – what you like, what you don’t like, what makes sense, what’s missing, and what could be improved.

Hawai‘i 2050 is committed to a citizen-based planning process that builds on the wisdom and desires of our communities. It is the 'People’s Plan.'"

Contact me for links if you want to participate or get more information. This process is extremely important to the future of Hawaiian residents and all who value our island heritage.

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

www.movetohawaiikai.com

Sales for Hawaii Kai

The market in Hawaii Kai continues to be strong and the median home price on Oahu rose again in October to $655,000, although the median price for condos fell slightly to $322,500.

As of November 23, in the last six months, 116 single family homes sold in Hawaii Kai, from $590,000 to $15,900,000. Here is the breakdown by price:
36 under $799,999
39 between $800,000 - $999,999
13 between $1,000,000 - $1,199,999
23 between $1,200,000 - $1,999,999
5 over $2,000,000

Condo sales also kept pace with the good market. 138 condos sold in the last six months, ranging from a leasehold unit in Village Green at $300,000 to a 3 bedroom in Kalele Kai for $1,400,000.

If you aren't familiar with the beauty and amenities of Hawaii Kai, visit my web site at www.movetohawaiikai.com which will give you details of the neighborhoods and activities in one of the most beautiful areas of Oahu. As examples, here are photos of the 2 highest sales in the last 6 months, the home in Portlock and condominium in Kalele Kai:

Leasehold Studio with Fantastic View Honolulu

2888 Ala Ilima St #2307
Five Regents Building
Salt Lake Neighborhood
1 parking, long lease to 2078
Low mx fee $213
New paint, carpet, ceramic tile
Secure building with pool,
community laundry, tennis court
$155,000 leasehold
OPEN HOUSE SUNDAY 11/18
2 - 5 PM

Hawaii Kai Market Statistics as of Nov. 2, 2007

The market in Hawaii Kai, on the east end of Oahu, continues strong.

As of Nov. 2, 116 single family homes were available, 24 under contract, and 126 sold in the last six months. The sales range from $590,000 to $15,900,000. More homes are listed between $1,200,000-$1,999,999 than at other prices, 42 as of today, but numbers of sales in that range trailed the less expensive homes, those under $1,000,000.

For condos, there are 83 active listings, from $389,000 to $1,248,000, 23 under contract, and 150 sold in the last six months. The sales range from $300,000 to $1,400,000.

There is a wide variety of price ranges, but also of style, age, size, and location. Waterfront brings the highest price, water view next, and no view the least. But in Hawaii Kai, you are only 5 minutes from the water of Maunalua Bay or Sandy Beach in any neighborhood.

Here are some examples of the beautiful architecture found in Hawaii Kai:

Contact me at barbara@barbarashawaii.com for more information about the Oahu real estate market, and especially Hawaii Kai, or visit http://www.movetohawaiikai.com/.

Honolulu Web Cams

I've discovered some great live web cams available online for our island. Visit http://www.honolulu.gov/cameras/index.htm. You can watch the tourists in Waikiki in two different locations, accompanied by music, traffic congestion hot spots, Honolulu traffic cameras, and live webcasts of the Honolulu City and County Council meetings.

If you get tired of snow and cold this winter, try http://www.honolulu.gov/multimed/waikiki.asp, watch the waves break and dream of white sand beaches in Hawaiian Paradise.

Should these webcams make you dream of owning a hideaway in Waikiki, or anywhere on Oahu, give me a call or email. I'll help you find your special home in the Islands. Enjoy!

Barbara Abe, REALTOR

barbara@barbarashawaii.com

800-999-6090

Moloka'i Hoe

The Outrigger Canoe Race, the Molokai Hoe, will be held Sunday, October 7. More than 1,000 paddlers from around the world will compete in the 41-mile open-ocean race from Hale O Lono Harbor on Molokai, to Duke Kahanamoku Beach in Waikiki. The crew from SHELL VAA of Tahiti will defend their title against teams from Japan, Singapore, Italy, Australia, California, and Hawaii.

Here's a description from the Moloka'i Hoe web page: "The Moloka'i Hoe is one of the longest running annual team sporting events in Hawaii, second only to football. The Moloka'i Hoe perpetuates one of Hawaii's and Polynesia's most important and historic cultural traditions, while honoring outrigger canoe paddlers around the world. The Moloka'i Hoe tests the limits of physical and mental strength and endurance, courage determination and teamwork, and paddlers battle nature's most extreme elements."

The race was a dream in 1939, and finally became a reality in 1952 when the Waikiki Surf Club, Hawaiian Surf Club, and Kukui o Lanikaula of Moloka'i competed. The team from Moloka'i didn't even have a canoe, so they borrowed a fishing canoe and won! It's the only year the Moloka'i men have won the race.

Lanikai Canoe Club of Oahu set the course record in 1995 and broke their own record in 2000, winning in 4:50:31. Outrigger Canoe Club of Hawaii has won the race 16 times, the most of any entrant in the history of the race. This year the winners will receive a cash prize of $5,000.

Market Update for Hawaii Kai as of Sept. 21, 2007:

Single Family Homes

Active Listings: total 123

Under $1,000,000 - 37

$1,000,000-$1,200,000 - 12

$1,200,000-$2,000,000 - 48

$2,000,000-$17,888,888 - 26

Listings Under Contract: total 23

Under $1,000,000 - 13

$1,000,000-$3,575,000 - 10

Sold in the last 6 months: total 130

Under $1,000,000 - 86

$1,000,000-$1,200,000 - 15

$1,200,000-$2,000,000 - 23

$2,000,000-$4,500,000 - 6

Condos

Active Listings: total 83

From $365,000 to $1,288,000

Listings Under Contract: total 34

From $320,000 to $1,580,000

Sold in the last 6 months: total 152

From $300,000 to $1,150,000

If you would like more information on the Hawaii Kai market, or active listings, just let me know. I have been a resident of this community and a REALTOR here for many years.

Aloha,

Barbara

Portlock Road, on the east end of Hawaii Kai, at the east tip of the island of Oahu, has long been known as one of the most exclusive residential areas on the island. Henry Kaiser, who developed Hawaii Kai, built his multi-acre estate there, overlooking Diamond Head and Maunalua Bay, and many other legendary figures have owned property in this spectacular setting.

The area is named after Captain Nathaniel Portlock, who is remembered for writing the first published description of Pearl Harbor, in his journal, printed in 1789. The diary related his experiences on a voyage of discovery in command of the British vessels King George and Queen Charlotte.

Portlock Road parallels the clear, pristine waters of Maunalua Bay. The residences on the water side enjoy views of Diamond Head and many have white sand beaches. There is a good surf break not far offshore, and a small public beach known and used by locals. One homeowner tried to lock the path to this beach a few years back, which caused many hard feelings. He finally lost in court, and the beach remains available to those not able to afford homes on the water.

The area is just off Kalanianaole Highway, an easy drive to H1 and downtown Honolulu. Turning east on the highway takes the traveler to Hanauma Bay, past the Makapuu Lighthouse, to the scenic Windward Coast of Oahu. Residents of Portlock can enjoy all the amenities of suburban living in the Hawaii Kai community, but be within 15 minutes of the busy metropolitan center of Honolulu.

Of the 686 properties in the area, sales this year in Portlock have ranged from $950.000 to $4,500,000. Active listings as of August, 2007 run from $1,798,000 to $17,888,888. If you want a prestigious address on Oahu, consider the neighborhood of Portlock, and contact me for more details, barbara@barbarashawaii.com

Hawaii Super Ferry Starts Service

A vision for many years, the interisland Hawaii Super Ferry will finally become a reality and take its maiden voyage Sunday, August 26.

Christened the Alakai, which means "ocean path" in honor of Hawaii's rich history of marine navigation and travel, the 349' vessel can carry 900 passengers and 250 cars. Hawaii Superferry is more than just an alternative way to get from one island to the next. The company believes their interisland service will change Hawai‘i for the better, combining historic tradition with modern capabilities to rebuild our marine highways. Read more…

Through Sept. 5, the inaugural rates on the catamaran-style ferry will be $5/passenger/one-way and $5/car/one-way, compared to rates in the hundreds to fly or ship a vehicle. Initial service will be between Maui and Oahu, and Kauai and Oahu, with Big Island trips added in 2009. The normal one-way fares are scheduled to be $59-69 including fuel surcharge & taxes, still the cheapest way by far to travel interisland.

Concern for the whales which frequent island waters prompted a lawsuit by several environmental groups, which claim the EIS (impact statement) has not been completed and the ferry should not operate until it has been approved. The Hawaii Dept. of Transportation is allowing the ferry to begin operating, because the court did not specifically rule against it.

For now, the graceful vessel will be seen plying the ocean waters with the whales, and offering a new mode of interisland travel.

Admissions Day in Hawaii Aug. 18

The 3rd Friday in August is celebrated as Admissions Day, commemorating the date - August 21 - when Hawaii achieved statehood in 1959. The state became the 50th, and last, state to join the Union. President Eisenhower unfurled the new 50-star flag at the White House ceremony, but the flag did not become official until July 4, 1960.

At the ceremony, Eisenhower was joined by Vice President Nixon, House Speaker Sam Rayburn, Secretary of the Interior Fred Seaton, and Hawaii politicians-elect: Senator-elect Oren Long, and House-member-elect Daniel Inouye, who has represented Hawaii in Congress ever since, and is still one of the state's two Senators! Hiram Fong, the other Senator-elect, and the new Governor, William F. Quinn, stayed in Hawaii.

Statehood bills for Hawaii were introduced into Congress as early as 1919, and again in 1935, 1947, and 1950. In the decade before 1959, three Hawaii statehood bills had passed the House. Once a bill also passed the Senate, but died because it was tied to statehood for Alaska. Much of the opposition came from Southerners in Congress, who "took a dim view of the mixed racial strains of Hawaii's population."

Alaska was admitted earlier in 1959, but no new states had been added since 1912, when Arizona and New Mexico became part of the Union. When Alaska was finally approved, Hawaii's long fight for statehood effectively ended, as it was generally understood by the politicians that Hawaii's turn would come.

For those of us lucky enough to live in Hawaii, we feel the ethnic diversity is not only one of the greatest strengths of the state, but also one of the many pleasures of calling this Paradise our "home."

New Development in Hawaii Kai

Jim Schmit, architect of 9 unique homes at the base of Kamehame Ridge in Hawaii Kai, found opportunity where others only saw a thin stretch of land on a busy road.

He is a modernist, and jumped at the chance to build a different kind of project, with a modern approach. The 2 completed homes look like warehouses from the outside, but inside you can see the blending of modern materials and an island-inspired courtyard and loft.

Schmit is facing building challenges, not unusual in our island home. He's had to put in water, sewer, and repave the part of Hawaii Kai Drive fronting the project, after installing underground utilties.

Each home is about 4,000 sq ft, and will sell for $1.5 million. The Bali Loft subdivision should be completed by 2009. Contact me for information about these homes or other new construction in Hawaii Kai.

Barbara Abe

www.movetohawaiikai.com

www.barbarashawaii.com