Prices Remain Stable in Hawaii Kai in 2008

Real Estate Prices Hold in Hawaii Kai

A recent article in the Honolulu Advertiser confirms what Realtors here in Hawaii Kai have always known: the desirability of living on this beautiful east shore of Oahu supports real estate values and keeps sales steady.

Many Homes are Waterfront

Called a "blue chip neighborhood," the article notes that many homes are waterfront which, of course, is the most valuable real estate on the whole island. Other homestyles include luxurious condos, affordable townhomes, hilltop estates with panoramic views - everything from low maintenance to boat docks. The many choices for buyers keeps the supply and demand well balanced.



Median Prices in 2007

According to the Honolulu Board of Realtors, condominiums in the geographic area of Hawaii Kai ranked as the most expensive on Oahu in the fourth quarter of 2007, with a median sales price of $585,000. The median price for single-family homes during the same period was $919,900.

A Special Place to call Home

With a high owner-occupant ratio, and the availability of every water sport, the community appeals to all age groups and lifestyles. Pride of ownership is obvious throughout the neighborhoods, and most residents wouldn't live anywhere else on the island.

As the busy selling season of June through September approaches, buyers should realize the price drops seen on the mainland and in other parts of Oahu have not happened in Hawaii Kai. Real estate in Hawaii Kai has been a very good investment. Contact me for details!

Barbara Abe
East Oahu Realty
800-999-6090
808-226-2537
barbara@barbarashawaii.com
http://www.movetohawaiikai.com

Real Estate Market Trends on Oahu Dec. 2007-Feb. 2008

For the 2nd month in a row, demand for lower-priced homes pushed down the median price of a single-family home on Oahu. The median price from December, 2007 through February, 2008 was $600,000, a 2% decline from a year ago, when it was $612,000.

The median price of a condo during the same 3-month period was $328,000, a 4% increase over last year, when it was $315,000.

However, sales of single-family homes fell more than 28% and condos fell 21% during the December-February period, compared to last year.

Reflecting the mainland real estate market, with a high inventory of depressed properties and short sales, buyers now are looking for a "deal" and know there are plenty of properties to choose from in the lower price ranges.

Contact me for full details on the real estate market on Oahu. I specialize in East Oahu and Hawaii Kai, and offer more than 20 years of experience and thorough real estate market knowledge of the Islands.

Barbara Abe
East Oahu Realty
800-999-6090
808-226-2537
barbara@barbarashawaii.com
http://www.barbarashawaii.com/

Hawaii Kai Dog Park Taking Shape

Last Saturday, we had a planting party in the park, and planted plumbago along the outside of the fence (yes, there is now a fence!). It's really beginning to look great!

DPR has also planted grass and 8 monkeypod and shower trees. The dogs will have the most scenic place in Hawaii Kai to run, with Diamond Head looming straight ahead (almost) and the Pacific Ocean to the left, marina to the right.

One of the realtors at my company said he was going to rent a dog so he could use the park!

For information on how you can help with funding the fence for the park, email barbara@barbarashawaii.com. I'm still giving part of my commissions from real estate sales to the non-profit Hui 'Ilio until the park is done.

Hawaii Kai is a special place on Oahu. Contact me for a real estate market analysis or to preview any homes. Barbara Abe, http://www.movetohawaiikai.com/, 808-226-2537.

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

Real Estate Market News - Hawaii Kai - January, 2008

The real estate market in East Oahu was very active in January, as more homes went into escrow than in December and sales remained strong. The median sale price of single family homes was $930,000 compared to $900,000 in 2007, and of condos $545,000 compared to $515,000 in 2007. For the month, 228 single family homes sold, and 324 condos.

For Hawaii Kai specifically, the median sales price of single family houses was $834,000, and the number of sales down slightly from a year ago. Condo sales made the difference, as number of sales rose 110% over 2007, with a median price of $540,000 vs. $533,000 a year ago.

Because Hawaii Kai is one of the premier communities on Oahu, prices and demand have remained very strong, and we haven't been affected as much by inventory and market slowdown as other parts of the island.

Contact me for a complete real estate market analysis of the East Oahu or Hawaii Kai area. If you don't live here, you can't believe what you're missing!

Barbara Abe, REALTOR

barbara@barbarashawaii.com
www.movetohawaiikai.com

800-999-6090

808-226-2537

New Restaurant Open in Hawaii Kai

Therapy SportsGrill, in the Koko Marina Center, is now open. Owned by Daniel Lee, Keoni Chan, and Simon Bitanga, the restaurant will stay open into the "wee hours of the morning" to give residents a choice from Zippy's or fast food.

"We thought it was a good opportunity to add to the variety of great businesses out there," said Chan of Therapy Sportsgrill, located on the marina between Assagio's and Bubbies. "We're trying to fit into the mix and give East Oahu another option."

Therapy offers more than 100 items, including pupus and local favories like fried rice and garlic chicken, and a unique selection of sushi rolls. Portions are generous, as is the fully-stocked bar. They have 20 plasma TVs, pool tables, dartboards, megatouch machines, and Karaoke on Wednesday nights. Future plans will bring outside seating, live local music, and a buffet.

The location favors a tremendous view: its 1,000 square feet of glass covering the entire back of the grill from floor to ceiling, patrons can enjoy a panoramic view from Aina Haina to Kamehame Ridge.

Details:

Koko Marina Center, Suite D105

Hours:
11 a.m. to 2 a.m. Monday through Sunday; open on most major holidays
Contact:
For more information, call 394-8200

And for real estate information about Hawaii Kai, contact the Realtor who specializes in this unique part of East Oahu, Barbara Abe, barbara@barbarashawaii.com, 808-226-2537.

Annual Hawaii Kai Marina Festival of Lights

The 11th annual boat parade, held in rain and wind Saturday, Dec. 15, was again a big success. Music and entertainment at the Hawaii Kai Towne Center kept spectators enthusiastic while waiting for the boats. 40 entries, the largest number since the start of the parade, competed for prizes.

Judging the Boats

Grand Prize went to Tom & Jennifer Hintnaus, for "Captain Hook & Peter Pan." They decorated the boat to look like a replica of a wooden pirate ship, complete with sails and pirates on board.

Judges were Joseph McNamara, Jeanne Branch Johnson, Doug Harris, Kathy Muneno, and Congressman Ed Case.

The Hawaii Kai Marina Community Assn. does a great job and brings a sense of cohesiveness to our marina.

Contact me for information on living on our Hawaii Kai Marina, or relocation to Oahu.

Barbara Abe, REALTOR

808-226-2537