Hawaii Life Real Estate Brokers » Makaha

Oahu Home and Condo Sales Took a Holiday in December

David E. Buck, R, BIC — Thu, 19 Jan 2012 22:20:21 +0000

Resales of single family homes were down 14.5% and condo sales down 6.5% in December.

Every year, we typically see a dip in volume over the Holidays. However, this year was more significant compared with December of 2010.

This Waimanalo home (MLS # 1112647) is priced at December’s median price of $605,000

Meanwhile, the median price of a single family home on Oahu was up 3.4% to $605,000, which was the highest month in 2011! The median condo price was down 5% to $300,000. We’re also noticing a similar trend to November in that both inventory and listings are down significantly on Oahu, when compared to 2010. Once again, a great reason to consider listing your property…

This Ala Moana Hotel Condo (MLS # 1110106) is listed for December’s median price of $300,000

As always, all real estate is local. To find out what is happening in your neighborhood, contact one of our great Realtors on Oahu to see what is going on in your market, and if now is the time to buy or sell.

Neighborhoods “Hot” for Sellers

Home sales on the North Shore were up 60%
Home prices in Makaha-Nanakuli were up 41.2%
Condo sales in Makaha-Nanakuli were up 111.1%
Condo prices on the North Shore were up 87.1%

Neighborhoods “Hot” for Buyers

Home sales in Kaneohe were down 50%
Home prices in Aina Haina-Kuliouou were down 52.4%
Condo sales inMakakilo were down 77.8%
Condo prices in Ala Moana-Kakaako were down 44.7%

Strong Finish for Oahu Home Sales as August Heated Up

David E. Buck, R, BIC — Sat, 10 Sep 2011 02:50:14 +0000

After June and July ended up being a slower home buying season compared to summers past, August finished strong. Home sales were up 20.8% and condos sales up 15% from 2010!

This Westloch Estates home (MLS# 1108942) is priced just under August’s median price of $557,500

We were holding our breaths the last few months as there were so little sales, however, it was apparent with the uptick in pending sales that led me to believe we were bound for a jump in sales volume. That’s the good news. That bad news is the median price of home sales was down 13.1%. Meanwhile, condo prices were down just slightly to a $300,000 median, or a 1% drop from 2010.

This Ala Moana Hotel Condo (MLS# 1110106) is available for August’s median price of $300,000

Although prices are down from 2010, we may start to see some slight upward pressure as sales volume was up and new listing inventory was down 12% for single family homes, and also down 8.9% for condos. Pending sales also took a major bump up as they were up 17.8% for homes and up 26.5% for condos! This should make for some strong September and October stats.

What neighborhoods were ‘hot’ for sellers in August?

Home sales in Makakilo were up 125%
Home prices in Mililani were up 25.3%
Condo sales in Makaha-Nanakuli were up 200%
Condo prices in Wahiawa were up 30.4%

What neighborhoods were ‘hot’ for buyers in August?

Home sales in Moanalua-Salt Lake were down 75%
Home prices on the North Shore were down 44.6%
Condo sales on the Windward Coast were down 100%
Condo prices on the Windward Coast were down 100%

July Home Sales and Prices on Oahu Down From 2010

David E. Buck, R, BIC — Fri, 12 Aug 2011 04:05:40 +0000

Although sales of single family homes on Oahu in July were down 7% from 2010, Realtors on Oahu closed as many transactions as June with 251 sales. Prices were also down 2.2% from last year. On a brighter note, they took a tick up from June’s median price of $575,000. It also took homes that sell* an average of 34 days on market.

This Waialua home (MLS# 1107210) is listed near July’s median sales price of $591,000

*Homes that don’t sell aren’t factored into the 34 days on market stats. There are many homes that do not sell and are either withdrawn from the market and/or re-listed at a later date. If you attempted to sell your property without success and it is no longer on the market, feel free to contact me for more information about our smart marketing and solid representation.

This Kakaako condo (MLS# 1107389) is listed near July’s median sales price of $277,000

The condo market on Oahu also followed the single family trend as sales were down 8.3% and the median sales price was also down 7.7% from last year to $277,000. This is the lowest median price for condos this whole year! This may be a sign of a buyer’s market brewing for condos…

What neighborhoods were ‘hot’ for sellers in July?

Home sales in Moanalua-Salt Lake were up 150%
Home prices in Moanalua-Salt Lake were up 79.3%
Condo sales on the north shore were up 50%
Condo prices on the north shore were up 15.3%

What neighborhoods were ‘hot’ for buyers in July?

Home sales in Kaneohe were down 51.7%
Home prices in Makaha-Nanakuli were down 25.8%
Condo sales in Aina Haina-Kuliouou, Wahiawa and the Windward Coast were down 100%**
Condo prices in Aina Haina-Kuliouou, Wahiawa, and the Windward Coast were down 100%**

**There were no sales in either of these 3 neighborhoods. This is also the most neighborhoods I’ve seen without any sales in a very long time.

As always, all real estate is local. To find out what’s happening in your neighborhood, contact one of our great Realtors on Oahu to see what’s going on in your market, and if now is the time to buy or sell.

3 Reasons You May Want to Consider Buying Makaha Real Estate – Affordability Meets Paradise

David E. Buck, R, BIC — Mon, 27 Jun 2011 23:45:28 +0000

You want to know where you get the most “bang for your buck” (no pun intended) on Oahu?

Golf course and ocean views from the Makaha Resort on Oahu

This past week, I had the opportunity to stay at the Makaha Resort for our second training session of the Hawaii Association of Realtors Leadership Academy. Although I grew up on Oahu, it was my first time staying here. I would have to recommend it to any clients that are looking to either move to Makaha, or invest in Makaha real estate.

So often people fly to Oahu, stay in Waikiki, think about buying real estate, get sticker shock at Honolulu prices, then fly back to the mainland without buying anything. I always recommend spending some time in the area you plan on purchasing because REALTOR does not = tour guide. We are here to answer, or do our best to answer any questions you have and to provide you with information to help you make an informed decision.

Makaha Shores condo (MLS# 1104824) overlooking world famous surf spot

Makaha may not be for everyone, however, here are some of the reasons why you may want to consider Makaha real estate:

1. White sandy beaches and crystal blue water. Makaha is on the same leeward (West) coastline that the resorts were developed on the neighbor islands (i.e. Kona on the Big Island, and Kaanapali and Wailea on Maui).

All sorts of ocean activities await you fronting the Makaha Beach Cabanas (MLS# 1106018)

2. Lifestyle. Enjoy all sorts of ocean recreation. There’s even a nearby boat harbor. You’re also 15-20 minutes from Ko Olina Resort and not much further to Kapolei, Oahu’s “2nd City” with all the modern conveniences you’ll ever need.

Makaha Surfside condo (MLS# 1107425) listed for $78,000

3. Affordability. Units at Makaha Surfside, which is an oceanfront building, are available under $100,000 fee simple!

If you’re interested in living your Hawaii life in Makaha, contact me for more information.

Oahu Sales and Prices Down in May

David E. Buck, R, BIC — Wed, 08 Jun 2011 22:38:08 +0000

Resales of single family homes and condos on Oahu continued April’s downward trend of fewer transactions in the marketplace.

This home (MLS# 1011829) on Oahu’s Windward Coast is listed for the median price of $595,000

The bad news first:

Single family home sales were down 15.3% and condo sales were down 10.3% in May. Median prices also stumbled from last year with home prices down 0.8% to $595,000 and condos down 4.9% to $290,000.

Now, the good news:

Although April and May’s figures were not as strong as last year, both outpaced 2009′s figures. In addition, we are on track for a strong healthy summer as pending home sales are up 22.2% for homes and up 44.3% for condos in May!

What neighborhoods were great for sellers in May?

Home sales on Downtown-Nuuanu were up 33.3%
Home prices in Aina Haina-Kuliouou were up 31.6%
Condo sales in both Kailua-Waimanalo and Makaha-Nanakuli tied at 66.7%
Condo prices in Ala Moana-Kakaako were up 43.6%

What neighborhoods were great for buyers in May?

Home sales in Kaneohe were down 61.3%
Home pricesÂ on the Windward Coast were down 21.4%
Condo prices along the Windward Cost were down 52.7%
Condo sales in Mililani were down 42.3%

As always, all real estate is local. To find out whatâ€™s happening in your neighborhood, contact one of ourÂ great Realtors on Oahu to see whatâ€™s going on in your market, and if now is the time to buy or sell.

Canadians Surpass Japanese for Foreign Investment in Hawaii Real Estate

David E. Buck, R, BIC — Sat, 21 May 2011 02:30:23 +0000

For 2010 and 2011, Canada has taken over for Japan as the #1 foreign country investing in residential real estate in Hawaii.

I had the opportunity to hear Dr. Michael Sklarz of Collateral Analytics speak today at the Hawaii Convention Center about foreign real estate investment. He had some interesting data that he was able to compile with the help of Title Guaranty.

For the state of Hawaii, Canadian investment in real estate has by far surpassed other foreign countries over the past few years. Over the past decade or so, the Japanese have been averaging 250-300 purchases/per year. Canadian investment is nearing 400 purchases/year over the last 2 years. Following a distant third behind Canada and Japan is Hong Kong.

Sklarz also had some good data on where foreigners were buying throughout Oahu, Maui, and the Big Island. Unfortunately, he didn’t have any statistics on Kauai.

On Oahu, the Japanese still have the title of largest foreign investment country. The top areas for foreign investment on Oahu are:

On Maui, the Canadians are by far the largest foreign investment country. The top areas for foreign investment on Maui lately have been:

On the Big Island, Canadians have also taken the top spot. The top areas for foreign investment on the Big Island have been:

While these neighborhoods have been hot lately, here’s a rough breakdown* of the neighborhoods with the highest foreign ownership percentages throughout the state:

10% Wailea, Maui
9.1% Kapalua, Maui
6.5% Waikiki, Oahu
5.8% Makaha, Oahu
4% Puako, Big Island

* These percentages are rough estimates as the slides Sklarz used were bar graphs with only whole numbers shown.

It makes sense why the Japanese are being surpassed when you see some of the graphics that were displayed. The residential market in Japan is still down 60% from 20 years ago! Sklarz anticipates foreign investment to pick up from Hong Kong, Singapore, Australia, and Canada as their residential markets are near all time highs. He went on to compare what we’re seeing with the Canadians, and other foreign investment here, being analogous to the Japanese bubble we experienced here in Hawaii.

Here are 3 reasons driving foreign investment to Hawaii:

Depressed prices from the peak of the market
Buyers in the countries mentioned above have a ton of equity in their home and want to diversify
The exchange rate with the U.S. dollar is the best it’s been in a long time for foreign investment

The difference between now and then is the Japanese back then were willing to pay 25% more than domestic buyers for most properties. Although the Canadians are whipping out their checkbooks, they are not “overpaying” and it is predicted this trend we are seeing will be more sustainable and long lasting.

The Canadians also had a good run on Hawaii real estate in the early ’80s when oil was high. When the price of oil corrected, it took our market with it. Sklarz also didn’t seem to think that would be the case this go around. Although oil is up, Canada’s economy is much more diverse than it was back then.

Our Hawaii Life agents have been experiencing this foreign investment phenomena first hand this year. If you’re looking to invest in Hawaii Real Estate, we have Solid Representation with agents on Oahu, Maui, the Big Island and Kauai to help you out.

Makaha Homes and Condos For Sale on Oahu

Mark Buck, R — Sat, 30 Apr 2011 20:25:40 +0000

Crystal clear water and a white sandy beach are some of Makaha’s unique attributes…

Makaha Beach on Oahu’s west shore is best known as the site of one of the early surfing champioships where future champions first competed and won.

These contests were held in theÂ 50s and 60s when Makaha was a hard-to-reach sleepy town. Since then, much has happened in Makaha and the entire Leeward Coast of Oahu. Oceanfront and close to ocean homes are a great value today.

This Upena Street property (MLS# 1102390)Â is on a quiet road and just steps from the ocean

Besides the beautiful stretches of pristine beaches, there are a number of valleys with the Makaha Resort and Golf Course being one of them.Â Although the resort has struggled, one mainstay has been the golf courses.

Recently, one of them has been purchased by Hawaiian Golf Properties, a group that has recently purchased two other Oahu golf courses. Within the resort area of Makaha Valley there are great buys on condominiums as well as townhouses.

View from Makaha Valley Towers condo (MLS# 1103471) listed for $199,000

If you think you might want to consider living your Hawaii life in Makaha, contact me for more information.

Chinese Buying Up Golf Courses on Oahu

David E. Buck, R, BIC — Sat, 23 Apr 2011 21:08:03 +0000

Luana Hills Country Club in Maunawili is one of three courses that recently sold

Just over 20 years ago, the Japanese were buying golf courses all over Hawaii. During the Yen’s decline, they ended up selling many of them here for pennies on the dollar. Today, it appears Chinese money is pouring in to buy golf courses here on Oahu.

They’ve also hired a local boy to run the properties according to an article in the Star Advertiser. The three properties recently acquired were Kapolei Golf Course, Luana Hills Country Club, and Makaha Resort and Golf Club.

If you are an avidÂ golfer and living near a course is not good enough, here are some golf course frontage homes on Oahu.

Oahu Home Sales Up and Prices Down in January

David E. Buck, R, BIC — Thu, 17 Feb 2011 21:30:32 +0000

The Oahu real estate market started the year off with a jump in sales and a dip in prices.

In January, there were 199 single family home sales on Oahu, which was up 11.2% from last year. Condo sales were also up 9.5%. Volume increases are typically signs of a healthy market and can often be a precursor to price increases. However, this month we saw a dip in the median sales prices. Single family homes were down 4.2% to $570,000 and condos were down 2.7% to $291,000.

What neighborhoods were hot in January?

Home sales in Makiki-Moiliili were up 300%
Home prices in Hawaii Kai were up 127%
Condo sales on the North Shore were up 400%
Condo prices on the North Shore were up 120%

What neighborhoods were not hot?

Home sales in the Ewa Plain were down 30%*
Home prices on the North Shore were down 32%*
Condo sales in Waialae-Kahala were down 60%
Condo prices in Makaha-Nanakuli were down 45%

*Ala Moana-Kakaako was actually the biggest drop in sales and prices at 100%, however, there are almost no homes there (primarily condos) and the sales went from 1 to 0, which skewed the data, so I replaced with Ewa for a better picture of the market.

What does this say? My guess is one of the most active markets has been the North Shore as volume is up, while prices are down, and buyers are realizing bargains during the North Shore’s winter months. The lifestyle is so genuine there.

For more information on Oahu’s North Shore, or the market here in general, contact myself or one of our great agents for more information.

Oahu Home Sales Down in October While Prices Stable

David E. Buck, R, BIC — Mon, 22 Nov 2010 23:13:55 +0000

Perhaps I got ahead of myself when I said, “don’t be scared of Oahu’s home sales” last month.

Adam Sandler on Saturday Night Live singing his Thanksgiving song

We are thankful this Thanksgiving for stable home prices on Oahu.

In October, sales of single family homes were down 16.9%, and condo sales were down 21.3% from the previous year. That’s the “scary” news. What isn’t so scary, is prices are stable with the median sales price down just 1.4% to $595,750 for single family homes, and condo prices remained unchanged with a $300,000 median price. On a positive note, here are two strong indicating factorsÂ that should boostÂ November sales:

Pending sales for homes are up 28.5%, however, condos down 6.9%
Days on market for homes to sell are down 32.7% from 52 to 35 days, and condos down 37% from 54 to 34 days!

What does this mean? Although the numbers of sales were down, they are not only trending back up, they are also selling faster! This time of year is typically a slow season, however, it’s shaping up to be a busy season for home buying. With historically low interest rates, buyers are realizing some great opportunities.

Here’s what was “hot” on Oahu in October:

Homes Sales: Windward Coast was up 100%
Home Prices: Waialae-Kahala was up 40%
Condo Sales: Kalihi was up 50%
Condo Prices: Waialae-Kahala was up 105.6%

Here’s what wasÂ ”not” on Oahu inÂ October:

Home Sales: Waialae-KahalaÂ was down 73.3%
Home Prices: North Shore home prices down 24.9%
Condo Sales: Kapahulu-Diamond Head and Waialae-Kahala were both down 50%
Condo Prices: Makaha-Nanakuli was down 34%

Did you notice something strange? How could Waialae-Kahala be both “hot” and “not”? Although prices were strong, there were very little sales. As sales volume typically leads prices in a real estate cycle, the Windward Coast and Kalihi may be some areas to keep an eye on.

If you’re thinking about buying, or selling real estate on Oahu, contact one of us today!