Hawaii Life Real Estate Brokers » Sales Stats

2011 Hawaii Tourism Authority Visitor Statistics Infograph

Justin Britt — Fri, 03 Feb 2012 22:47:59 +0000

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Big Island is Hawaii’s Most Affordable Island for Homes and Condos

Pat Strausse, RB — Fri, 20 Jan 2012 17:54:59 +0000

The Hawaii Association of Realtors (HAR) just released a statewide recap of 2011 sales for all the Realtor boards around Hawaii. This analysis lists out average sales prices for homes and condos. The Big Island of Hawaii leads all the other islands with both the lowest priced homes at just $242,500 and condos at an average price of $225,900.

This home (MLS# 250786) listed at just $249,000 is an example of the great real estate values on the Big Island.

HAR 2011 Stats by Island

There really is a home for anyone and everyone here on the Big Island. You will find an incredible variety of homes on the Big Island ranging from sub $100,000 homes on an acre in the Puna and Kau districts up to multimillion dolllar oceanfront estates in Kukio on the west coast. There is the same type of variety found in condos, although the vast majority of condos are found on the west side of the island in either Kona, Waikoloa or the resorts.

Oh, and the Big Island also has the most extreme scenery found in Hawaii, with the only actively flowing volcano to the common sight of snow capped mountains. Where else can you ski atop Mauna Kea in the morning, surf in the afternoon and then finish the day by viewing one of our awesome sunsets from your lanai!

I love the Big Island! Aloha.

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%

Protected: Big Island ROCKS! January 2012 – DOM: 12

Katie Minkus, R(BIC) — Tue, 17 Jan 2012 02:23:35 +0000

December (2011) Sales Figures For Waikoloa Condos

Pat Strausse, RB — Sat, 14 Jan 2012 23:45:26 +0000

This Waikoloa condo for sale (MLS# 242881) is one of the Villages newest condos

Waikoloa Village condo sales ended the year in December with a fairly slow sales month with just 3 sales for the month, and the average sales price was below $100,000 at $90,000. Both of these figures are a drop from November numbers of 5 sales averaging $144,100.

Here is a look at December sales for Waikoloa Village condos:

December sales took place in just two condo projects – Elima Lani and Fairway Terrace. These two entry level priced condo projects were by far the sales number leaders in 2011 condo sales. There was just one distressed property sale (a REO) accounting for just 1/3 of December sales numbers.

I’ll be back next week to take a look back at the condo sales for the year of 2011 in Waikoloa Village. I love the Big Island! Aloha.

Waikoloa Village Home Sales For December 2011

Pat Strausse, RB — Sat, 14 Jan 2012 19:30:31 +0000

This Waikoloa home for sale (MLS# 250505) is one of many newer homes built in Waikoloa in the mid 2000′s

Waikoloa Village home sales for December 2011 ended the year with a slow down in the number of homes sold with just 4 homes selling in December. This is down quite a bit from many months in 2011 that had almost double that number of sales. The average sales price was fairly high at $350,875 – and was just about the same as November’s average sales price of $352,267.

Here is a look at December home sales in Waikoloa Village:

The number of homes that were either a short sale or bank owned property accounted for 50% of the sales in December, a fairly low percentage for Waikoloa Village where this type of sales is often closer to 2/3 of all home sales.

I’ll be back next week with a review of home sales for the year of 2011. I love the Big Island! Aloha.

Oahu’s Million Dollar Home and Condo Sales For 2011

David E. Buck, R, BIC — Mon, 09 Jan 2012 21:35:19 +0000

Oahu home sales above $1 Million were up slightly in 2011. There were 393 this past year, which was up over 2010′s sales of 379 homes sold.

This Portlock home (MLS# 1112517) can be yours for $14,888,000

Home Sales

The highest sale on Oahu in 2011 was an oceanfront estate in the Kailua neighborhood of Beachside that sold for $14,000,000. When you break down sales above $5 Million on Oahu, there were 9 sales above $5 Million, which was down from 10 in 2010. Today, there are 42 active listings above $5 million, so if you have the cash, there is lots to choose from…Here are some of the better homes available I gathered for you in my Oahu Luxury Home Gallery.

Condo Sales

The highest condo sale on Oahu in 2010 was 2 units combined at the Diamond Head Apartments on the Gold Coast that went for $4,673,300. Meanwhile, the close runners up were a tie with Hokua 36K and Hokua 34B/C each selling for $4,550,000.

I know there were several on the neighbor islands that fetched higher sales prices this past year, however, don’t count Oahu out of the picture yet. We’ve had many sales here in the past above $20 Million, some above $30 Million and there was also one above $40 Million. Stay tuned to see what the Oahu luxury real estate market has in store for 2012…

Waikoloa Village Home For Sale with Privacy and Large Backyard

Catherine Klug, RS — Sat, 07 Jan 2012 19:30:02 +0000

The distressed sales, like bank owned and short sales, accounted for more than 60% of all home sales in Waikoloa Village in 2011. Should you choose a straight sale over a distressed property, this move-in ready property might be for you! It is the original Waikoloa Bluffs model home (Mauna Kea model B). It is in good condition and offers privacy.

If you enjoy relaxing outdoors, you will take advantage of the huge fenced-in backyard with mature Hayden mango and tangello fruit trees. You could even consider future expansion, or install a trampoline or swimming pool. There is a large covered lanai, nicely protected from the wind, that is perfect for entertainment. It has enough room to set up a hot tub with an electrical 220 line already installed.

68-3563 Awamoa Place in Waikoloa Village (MLS# 250439)

Based on a price point between $300K and $400K, you will be looking at 19 homes for sale and 10 of them will be sold “as-is” since they are distressed properties (5 REO’s & 5 short sales). Among the 9 others, this one is kept with pride and situated on a quiet cul-de-sac. I would definitely put it on your ”must see” list. There are three factors when selling a home: location, condition, and price. This Waikoloa Village home for sale listed at $350,000 meet all these criteria.

I live, work, and play in Waikoloa Village. Come by and I will show you around!

How Do 2011 West Hawaii Real Estate Stats Compare to Previous Years?

Dan Fumento, R(S) and Marion Fumento R(S) — Thu, 05 Jan 2012 22:16:58 +0000

Stat-a-palooza time now that 2011 is over and the new year begun. We put together some interesting stats for West Hawaii condo and residential sales. These stats cover the area from Keauhou to Waimea (TMK 3-6 and 3-7).

It’s interesting to note here how similar these graphs are even though one could make the case that many condo buyers are second home buyers and many residential buyers are not. Nevertheless, the graphs show an up-turn in the years the financial crisis was erupting and a steep decline starting several years before.

Now, let’s look at prices over the same period of time:

Again the graphs are similar and both show a price decline that is in its sixth year. So, unit sales are picking up as prices continue to decline. Clearly a buyer’s market, as they scoop up bargains at prices that might not be seen again for some time. We know that inventories are very low and it will be interesting to see how that affects prices in the coming year.

At some point, the laws of supply and demand will kick in, and prices are bound to stabilize and turn again. We already have clients who would like to purchase a second home and can’t find what they want because the inventory in some condo complexes is slim or non-existent.

Our advice to potential buyers and clients who have been looking for the opportunity to purchase in Hawaii is to start looking for what you want now. It may take a while to find and we think there is greater upside potential for prices than downside.

For more detailed market information contact us.

Makena Beach Luxury Homes – $28M in Closings Within 2 Days

Ken Molina, RS — Wed, 04 Jan 2012 22:15:35 +0000

Yes folks, you read that right! Actually, it was $27.9 million, but it was only 3 homes that totaled this amount…and all in 2 days.

Home #1

4950 Makena Road, Lot 9 is a 4 bedroom/4 bathroom residential condominium in the Makena Place subdivision. It is a detached single family home, however, they are set up as condominiums with an association and dues. The home is situated 40′ from the ocean and was sold fully furnished. It was on the market for 252 days, it sold for $8.1M, and was originally listed at $8.788M. The home consists of 3,717 square feet of living space with an additional 743 square feet of covered patios.

Home #2

7640 Makena Road is a 2 bedroom/3.5 bathroom “hawaiian style” home. As you can see, it is situated on a private promontory and surrounded on 3 sides by the ocean. The home isn’t for everyone, but for the right buyer, this could be as close to heaven as you can get! It’s only 3,000 square feet, but it also has an additional 1,400 square feet of covered/uncovered patios. It was on the market for 554 days, sold for $4.8M, and was originally listed at $6.495M.

Home #3

4541 Keoneoio Makena was sold before it was listed. It has 6 bedrooms and 6.5 bathrooms all under 6,901 square feet. Now, hold on to your hats people; it sold for a cool $15M.

These sales occurred in mid-December, so perhaps the rush was on to find a home for the holidays. Whatever the reasons were, we can say that there is a market for high-end Makena Beach properties. The downside, you will see, is that there are no listings that are currently available in the $4-$6M range. I have picked a few for you to look at.

High-End Makena Beach Properties For Sale

1. 4690 S. Makena Road (MLS# 346191) is an “old Hawaiian” style property. It has 3 bedrooms and 3 bathrooms under 2,968 square feet of living space. The reason to get this home is that very few homes on Po’olenalena Beach come on the market and this is one. This one is currently listed at $8.990M and is on just under 1/2 acre of land.

2. 4950 Makena Road, Lot 2 (MLS# 349474) is a residential condominium with 4 bedrooms and 4.5 bathrooms under 4,318 square feet of furnished home. This home is listed at $10.2M.

3. 6900 Makena Road (MLS# 345607) is my pick for 2012. This listing has 600 feet of ocean frontage and is bordered by sandy north and south beaches. It is listed at $17M and is a 2 bedroom/2 bathroom home with 2,337 square feet of living space and a 400 square foot studio ohana. The parcel of land is amazing at just under 1.4 acres beachfront. This property may not be for everyone, but for the right buyer, this could be the one.

Galleries and Helpful Links

If you are interested in looking at the entire home inventory in Makena, please visit my Makena Beach Luxury Homes Gallery. If you are interested in condominium living, please view my Makena Beach Condominium Gallery.

If you are new to Makena and would like to learn more about the area, may I suggest reading some blogs that I’ve written about the area:

To make Makena your home, contact me!

Ken Molina
808.344.6421
ken@hawaiilife.com