Diamond Head

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There was a great article in yesterday’s Sunday paper titled Diamond Head Architectural Classics on the Market. The article featured two listings:

1) 4315 Panini Loop which was designed by Claude Albon Stiehl in 1930

4315 Panini Loop

2) 2911 Makalei Place which was designed by Charles William Dickey in 1932

2911 Makalei, Diamond Head Home for sale

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There was a recent article in the Pacific Business News titled 2010 Oahu home sales off to fast start that talked about how we’ve been on a roll here on Oahu with home sales up every month since January 0f 2009! Year over year home sales were up 33% with 166 sales and condo sales up 43% with 227 sales! This momentum has definitely carried on from November and December of 2009. What was interesting to see was the median price of a single family home was up 11% from last year, while the median sales price Oahu condos was down 2%. While the numbers were great, real estate is always local…

Where  was up?

Where was down?

  • Wahiawa experienced the highest depreciation with prices down 32.8% year over year
  • Makaha/Nanakuli had the largest drop in number of sales down 61.5% year over year

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3939 Kahala Ave.

There are two homes that recently sold on the boarder of Diamond Head and Kahala that have had tremendous appreciation compared to the rest of Oahu and the nation for that matter.

  1. 3939 Kahala Ave. just closed today at $3,150,000.  It last sold January 23, 2008 for $2,340,000 for an appreciation of 34.6% over 2 years or 17.3% annualized return.
  2. 4322 Kahala Ave.  also just sold on 1/26/2010 for $3,500,000. It last sold for $2,600,000 on July 25, 2008 for an appreciation of 42.3% over 1.5 years or 28.2% annualized return.

These aren’t bad returns considering the economy and other investment vehicles. The stock market is still volatile, everyone is running to gold and how soon we forget how real estate can be a great asset class to invest in :)

If you’re looking for some well price homes near these, here’s a few:

4322 Kahala Ave.

One wild guess why these have gone up while other areas of the island have gone down? Location, location, location….

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The Kaiser Estate is Available for $80 Million

If you are a homeowner looking to sell your luxury home on Oahu, you should be thankful 2009 is behind us :) Sales of Million Dollar homes on Oahu were down 27% from 2008. There were 273 homes on Oahu that sold over $1 million compared to 374 in 2008. Good news is if you’re a buyer of homes over $1 million, now is the time for bargain hunting! There were two recent sales in Diamond Head where a buyers buyers picked up some great buys:

  • 3721 Poka Place sold for $3,050,000 on 10/2/2009. The previous owner paid $4,100,000 on 5/15/2007!
  • 669 Hakaka Place sold for $3,373,000 on 10/20/2009. The previous owner paid $4,200,000 on 8/30/2004!

In my opinion, it’s the higher price point that has suffered the most. It’s still hard to find a nice home in a good neighborhood around $1 million, however once you get in the $3-5 million range, there are bargains galore out there. Sales above $5 million got hit even harder, down 50% in 2009 with only 10 sales all year vs. 20 in 2008. Meanwhile, there are 54 active listings on Oahu over $5 million as of today… Read entire post →

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3025 Diamond Head Road

3025 Diamond Head Road

I loaded a new listing into MLS Sunday evening and since 8 AM Monday morning, my phone has been ringing off the hook!

We are the lowest priced listing in Diamond Head where homes can run as high as $10 million plus.

Recent comparable homes are 3817 Leahi Ave. that sold for $975,000 and 3012 Diamond Head Road that is in escrow with asking price of $1.1 Million.

3025 Diamond Head Road is a rarely available Diamond Head bungalow that is two blocks walking distance to the beach. It has a charming Hawaiiana feel with Koa Wood floors, built-ins, board & batton walls, lap pool, waterfall, hot tub, patio for entertaining and wall for privacy. It’s also a Short Sale subject to lender approval.

I believe we’re priced well with the comps and am excited about this new listing. Offers have already been rolling in! Buyers are still out there. If you’re looking for results to get your home sold, Hawaii Life offers Smart Marketing and Solid Representation.

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Unlike some of the neighbor islands that have lots of oceanfront condos, Oahu’s oceanfront condo inventory is somewhat limited given the population of the island. The purpose of this blog post is to lay out where you can find oceanfront condos on Oahu. We’ll start at Diamond Head on Oahu’s southeastern shore (Diamond Head is where the original land surveys on Oahu used for reference) & work our way around the island clockwise.

  • Diamond Head- The oceanfront condos are found at the end of Kalakaua in an area we refer to as the Gold Coast
  • Waikiki- There is only 1 true oceanfront condo in Waikiki called the Waikiki Shore
  • Ko Olina- There are 2 projects as of now Kai Lani and the Beach Villas at Ko Olina
  • Leeward Coast- There’s a few buildings on this leeward Oahu strip on your way out to Yokohama Bay
  • North Shore- The majority of these are in Waialua, with other projects in Mokuleia, Haleiwa & 1 in Turtle Bay
  • Windward Coast- There’s a few projects between the long stretch of Punaluu to Kaneohe
  • Hawaii Kai- There’s only 1 oceanfront condo project here as well, however tons of units on the marina
  • Kuliouou- There’s only 1 project here on the ocean, however not a sandy beach and fronts a marine sanctuary
  • Kahala- There’s only 1 project here called the Kahala Beach Apartments, which is Leasehold

As you can see, a number of the areas mentioned above have either just one or two projects in the entire area. In the near future, I’ll be posting more information on each of the specific areas. In the meantime, if there’s anything specific I can help you find in regards to oceanfront condos on Oahu, give me a call at 808-371-3509.

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3239-noela-st

Diamond Head claimed another large sale this week. This is following a trend of the high end buyers realizing some great buys in this exclusive neighborhood. 3239 Noela St. closed for $8,750,000. The 10,544 square foot home that sits on over an acre was the former home of Jack Myers a local developer that moved to the San Francisco Bay Area. He sold this back in 2000 for $9 million. I’d say close to 99% of the homes on Oahu are worth more today than they were in 2000. Someone got a good buy here!

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Honolulu gold coast ariel

Just beyond Waikiki at the base of Diamond Head is  Honolulu’s “Gold Coast“. The Gold Coast is the last strip of buildings at the end of Kalakaua Ave. across from Kapiolani Park. Unlike the “hustle & bustle” of Waikiki, the Gold Coast is a little more quiet. The buildings consist of: Read entire post →

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Although this spring started off slow, the Diamond Head market is pickup up heat this summer! Not only have listings that were sitting for awhile selling, they are commanding several million dollars from buyers from the East Coast, Japan & Europe.  Here’s some recent sales:

  • May 27th, 2009 – 3003 Kalakaua Ave. #9B Sold for $3,000,000
  • June 26th, 2009 – Coral Strand PH2 Sold for $2,625,000
  • June 30th, 2009 – 3207 Noela St. Sold for $5,375,000
  • July 15th, 2009 – 3763 Diamond Head Rd. Sold for $3,850,000
  • July 23rd, 2009 – 3019 Kalakaua Ave. #5 Sold for $3,400,000
  • In addition, 3239 Noela St. is in escrow with an asking price of  $9,400,000!

If you’re looking for something special in Diamond Head, there are still a number of great properties for sale.  I live and own in Diamond Head. It’s a great place to live your Hawaii Life!

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