Hawaii Life Real Estate Brokers » Waialae

Oahu Needs Listings – November Housing Report

David E. Buck, R, BIC — Sun, 18 Dec 2011 22:30:54 +0000

When you look at the November Honolulu Board of Realtors statistics at a glance, it appears our market is relatively flat.

This Aiea Heights home (MLS# 1114521) is priced at November’s median sale price of $580,000

Home sales were up 1.2% from last year and condo sales were up 5.4%. The median price of homes was up 1% to $580,000 and the median condo price was down 5.4% to $295,000. That is where most publications stop. If you look closer at the numbers, Oahu is now becoming a seller’s market. If you own a home or condo on Oahu, now may be the time to consider selling.

Here is why:

New Listing Inventory for homes are down 14%
New Listing Inventory for condos are down 10.3%
Pending Home Sales were up 20% in November
Pending Condo Sales were up 18.3% in November
Average Days on Market for Home Sales dropped 12.5% to 35 Days
Average Days on Market for Condo Sales dropped 7.8% to 42 Days

These three factors of decreasing inventory, more sales, and shorter time to sell are all great signs if you’re considering putting your property on the market.

This Honolulu condo (MLS# 1110651) is available for November’s median price of $295,000

What neighborhoods were ‘hot’ for sellers in November?

Home sales in Moanalua-Salt Lake were up 1,200%! (13 sales compared to just 1 last year)
Home prices in Aina Haina-Kuliouou were up 32.3%
Condo sales in Kailua-Waimanalo were up 125%
Condo prices in Waialae-Kahala were up 80.5%

What neighborhoods were ‘hot’ for buyers in November?

Home sales in Kalihi-Palama were down 42.9%
Home prices on the Windward Coast were down 34.4%
Condo sales in Wahiawa were down 100%
Condo prices in Wahiawa were down 100%

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. Merry Christmas!

Oahu Home and Condo Sales Statistics For October (2011)

David E. Buck, R, BIC — Wed, 23 Nov 2011 00:13:26 +0000

After two months of increased sales volume on Oahu, single family home sales dropped by 9% in October. Meanwhile, condo sales were up 0.6%. The median sales price of a single family home on Oahu was down 2.3% from last year and the median condo price was up 1.7% to $305,000. Unfortunately, both are down from September’s median prices.

This home in Wailuna (MLS# 1109197) is listed for October’s median sales price of $579,000

The reason for the drop in single family sales is twofold. First, we are in what is traditionally a slower season, and second, there is less and less single family inventory. New single family listings were down 11.9%, which is the 7th out of 10 months this year where we have less inventory coming on market than the previous year.

This Salt Lake condo (MLS# 1113516) is listed for October’s median sales price of $305,000

Concern with Days on Market?

The days on market (DOM) for homes and condos (that have sold) jumped dramatically, up 28.6% for homes and up 18.8% for condos. Should we be concerned? My answer is “not yet.” The DOM for homes are now at 45 days, while condos are at 38 days. This is still a healthy market for sellers. Anything under 60 days is considered a “seller’s market” according to the National Association of Realtors. Although less inventory, it is taking longer for things to sell. This is a stat we will continue to monitor.

Homes that are selling are continuing to get great prices! Single family homes got 94.8% of asking price and condos that sold got 94.7% of asking price. The saying holds true that “well priced properties do sell.”

What neighborhoods were ‘hot’ for sellers in October?

Home sales in Kapahulu-Diamond Head were up 122%
Home prices in Waialae-Kahala were up 33.1%
Condo sales in Kalihi-Palama, Kapahulu-Diamond Head and the North Shore were each up 100%
Condo prices on the North Shore were up 165.7%

What neighborhoods were ‘hot’ for buyers in October?

Home sales in Hawaii Kai were down 52.4%
Home prices in Aina Haina-Kuliouou were down 60.6%
Condo sales in Wahiawa and the Windward Coast were each down 100%
Condo prices in Wahiawa and the Windward Coast were each down 100%

Oahu June Sales Not as ‘Hot’ as Summers Past

David E. Buck, R, BIC — Tue, 26 Jul 2011 00:00:51 +0000

The Oahu residential market continues on May’s downward trend of home sales.

This Makakilo home (MLS# 1108234) is just above June’s median price of $562,500

Resales of single family homes on Oahu were down 15.9% and condos down 19.9% when compared to June of 2010. These were the largest monthly drops for year-over-year stats since October of last year. The median sale price of single family homes was down 3.4% to $562,500 while condos were up 0.3% to $301,000.

Not all is doom and gloom however…as I hinted in my last article, pending sales (properties with accepted offers on them) in June also increased significantly as they are up 37.5% for homes and 24.6% for condos. It looks like there’s been a delay in summer home sales heating up, which is looking like we’ll have a strong July when next month’s stats are released…

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.

What neighborhoods were ‘hot’ for sellers in June?

Home sales on Moanalua-Salt Lake were up 200%
Home prices in Aina Haina-Kuliouou were up 71.8%
Condo sales in Kapahulu-Diamond Head were up 40%
Condo prices in Waialae-Kahala were up 384.6%*

What neighborhoods were ‘hot’ for buyers in June?

Home sales in Waialae-Kahala were down 54.5%
Home pricesÂ in Waialae-Kahala were down 16.7%
Condo sales in Waialae-Kahala were down 60%*
Condo prices in Kalihi-Palama were down 41.3%

*There were only 2 condo sales in the Waialae-Kahala area, one of which was a Regency at Kahala that sold for $1.5 Million which skewed the data, in my opinion.

Oahu Oceanfront Home & Condo Deals Under $100K – Too Good to Be True?

David E. Buck, R, BIC — Thu, 12 May 2011 06:30:36 +0000

Would you like an oceanfront home or condo on Oahu under $100,000?

This oceanfront home in Punaluu (MLS# 1102024) is only $94,000 LH

This oceanfront condo in Kahala (MLS# 1104631) is only $98,000 LH

Doesn’t this sound too good to be true? Well, it is if you read the fine print. We’ve been getting a ton of inquiries on these lately from buyers from all over the world. Both of these properties happen to be leasehold, where you don’t own the land. Any property you find listed that has an “LH” after the price means that it is leasehold.

Here are some of the terms of the leases according to MLS:

On the oceanfront home, the land lease runs through 2029 and the monthly lease rent is $4,500 per month
On the oceanfront condo, the land lease runs through 2027 and the monthly lease rent is $2,206 per month. In addition, you are looking at other monthly costs of $958 per month for maintenance fees and $273 per month for property taxes according to MLS.

Keep in mind, most lenders will require 5 years after the lease expires for an amortized loan. For instance, if you want to get a 30 year loan today, in 2011, the earliest the lease could expire would be 2046. Therefore, both of the properties above are subject to cash buyers.

Not all leasehold property is bad, however. You just need to look at the terms of the lease. Just keep in mind, if it looks too good to be true… it probably is. I recommend contacting a good Realtor on Oahu to help you navigate the buying process.

Living the Waialae Iki Life on Oahu, Hawaii

David E. Buck, R, BIC — Thu, 28 Apr 2011 01:26:23 +0000

Waialae Iki is one of the most sought after ridges in Honolulu.

View of Waialae Golf Course and the Kahala Hotel from 1350 Laukahi St. (MLS# 1102160)

Not only does Waialae Iki offer captivating views of the ocean, its location is really convenient. Only minutes from Kahala Mall, Waialae Iki is the 3rd traffic light you hit after H1 Freeway ends heading East. Waialae Iki was developed with the oldest homes built at the bottom of the hill in the 1960s. The main road that runs up the ridge is Laukahi St.

You don’t have to drive too far up to start realizing some sensational views. My father, Mark, built a home for our family mid way up the ridge in the late 1970′s. The architecture was ahead of its time and was featured in local publications. I’m happy to say, some family friends of ours currently reside in that home I lived in as a kid. It’s such a small island…

The newest homes are at the very top of the hill in Waialae Iki Five (5th phase of the development), which is a gated community.

1350 Laukahi Street in Waialae Iki at dusk

What’s great about the homes slightly older on the ridge is you get incredible views without all the wear and tear on your vehicles going up and down the hill. No matter where you live on the ridge, I’ve never run into someone that says they don’t like living there, which really says something about the neighborhood.

There are several community parks along the ridge, however, the most famous is Waialae Iki Park at the bottom of the hill, where you can see people playing soccer almost any day of the week.

Sit back, relax, and enjoy a book in the study room of 1350 Laukahi

Waialae Iki is also known for sophistication and luxury. There is an abnormally high percentage of doctors and lawyers that choose Waialae Iki as home. The last two times the U.S. Census was ran, Waialae Iki was one of the highest incomes per capita on Oahu. It also falls under the 96821 zip code, which is considered the most wealthy zip code in the state!

YouTube walk through of 1350 Laukahi St.

The home I’ve been referencing above is one of the lowest prices available on the market in Waialae Iki at $1,150,000. If you’re interested in living your Hawaii life in Waialae Iki, contact me for more information.

Diamond Head Homes For Sale Under $2 Million

David E. Buck, R, BIC — Wed, 30 Mar 2011 02:32:51 +0000

A few years ago, it was hard to find a home for sale in Diamond Head under $2 million.

View from home in Hibiscus Place (MLS# 1100355) listed for $1,985,000

Just as it is hard to find homes in Kahala under $1 million, it can be equally as difficult to find homes in Diamond Head under $2 million. Today, there are 5 homes for sale in Diamond Head under $2 million including the one on Hibiscus above.

This cute bungalow (MLS# 1012056) is the lowest price home at $1,190,000

The famous pink house on Kahala Ave. (MLS# 1016051) is asking $1,398,000

This home across from Triangle Park (MLS# 11002859) is priced at $1,600,000

Interior of home near Kapiolani Park (MLS# 1102194) listed for $1,649,000

In addition to those above, there’s also a foreclosure that’s going to auction next week under $2 million. There are definitely some great buys in Diamond Head today, and guess what, if you’re worried about the “sky falling” for Diamond Head real estate, think again!

A home listed for $14 million on the slopes of Diamond Head I wrote about in November is under contract scheduled to close soon. As a matter of fact, the home I mentioned in the article in Nuuanu has since sold as well. The only one available for sale now of the three I pointed out as good buys is the estate on Aha Aina Place (MLS# 1012974) listed for $17.3 million.

If you have interest in living your Hawaii life in Diamond Head, contact me for more information on homes in the area, or condo alternatives such as the Gold Coast or Pualei Circle.

Sony Open is 2nd PGA Stop This Week on Oahu

David E. Buck, R, BIC — Thu, 13 Jan 2011 18:38:33 +0000

The PGA’s 2nd event of the season, the Sony Open, is taking place on Oahu this week.

This 11th Fairway home (MLS# 1005044) is one of four homes for sale on the course

Last week marked the first tournament of the season on Maui at the Kapalua Tournament of Champions. This week, all eyes will be on Oahu, as it hosts the Sony Open again. As the tournament plays out on national television, I won’t be surprised if viewers become envious of our weather…

Just in case you are curious what homes go for around here, I’ve put something together for your viewing pleasure. This year, there are four homes for sale on the Waialae Golf Course, and they are situated on the 7th, 10th, and 11th fairway (above) and the 11th hole. Here they are:

This 7th Fairway home (MLS# 1013031) is Available for $3,700,000*

*A virtual tour is also available for this lowest priced home on Waialae Golf Course.

This 10th Fairway home (MLS# 2915902) is available for $5,880,000

This home on the 11th hole (MLS# 1002153) is available for $4,950,000

If you’re shocked at the prices of these homes, it’s because they are around some of the most expensive real estate on the island, in the luxury market of Kahala, where two oceanfront homes sold for $17.5 and $22 million this past year.

Fortunately, there are homes in the area that are less that aren’t on the golf course. However, if you have a passion for golf and would love to live on a golf course on Oahu, here’s a gallery of golf homes on Oahu.

If you have any questions about any of these properties, contact me for more information.

Kahala Kua Market Update

Mark Buck, R — Sat, 01 Jan 2011 05:29:00 +0000

Nestled on a ridge in East Oahu, Kahala Kua’s 120 unit gated community has seen a small amount of stable activity this year with only 3 homesÂ soldÂ in 2010.

5231A Kuawiw Place was the highest priced sale in 2010

I sold the highest priced sale at 5231A Kuaiwi Place, whichÂ closed at $1,400,000.00 in September. Next door there is a 3,276 square foot home listed at $1,395,000Â (MLS# 1007636) that represents a good value, and enjoys some nice ocean views that is currently in escrow.

Two other smaller homes on Poola Street sold for $1,015,000 and $1,150,000 recently. The only available listing is a 3,168 square foot home built in 2001 and listed at $1,498,000.

This home on Poola St. (MLS# 1014878) is the only available listing in Kahala Kua

If this house sells soon, this leaves the possibility of there being no homes available in theÂ desirable communityÂ in 2011. If you have any interest in selling your home, or buying one inÂ this great neighborhood contact me, your Kahala Kua expert!

The 3 Best Non-Oceanfront Luxury Homes on Oahu

David E. Buck, R, BIC — Fri, 26 Nov 2010 21:30:40 +0000

When it comes to Luxury Real Estate in Hawaii, oceanfront homes traditionally take the cake.

2500A Aha Aina Place (MLS# 1012974) tops the list, and is listed for $17,300,000

What if you don’t want to live on the water? Often times, I’ll have clients that don’t want the maintenance of living on the water, or they have a fear/phobia of tsunamis…Here are my favorite 3 luxury (non-oceanfront) homes on Oahu:

1. 2500A Aha Aina Place (MLS# 1012974) sits atop Waialae Nui Ridge. I’ve had the pleasure of spending a lot of time in this home, and also tops my list for a number of reasons. This home is literally “king of the hill.” It boasts 2 swimming pools, a hotel-like slide that connects the pools, a private movie theater, game room, and an incredible glass bridge entryway into the home over a brilliant water feature.

This villa (MLS# 1014657) sits atop Diamond Head Road

2. 3222 Diamond Head Road #6 (MLS# 1014657) is a fantastic villa that was recently re-listed on Diamond Head. This home last sold in 2005 for $9 million. My initial reaction is the price is somewhat lofty for non-oceanfront, however you simply cannot beat this location!

The late Roy Disney recently completed building a new home right across the street. The previous owner of this home put a lot of time, money, effort, and attention to detail here which really shows. Although #2 on my list, this home falls in my #1 (favorite) neighborhood of Diamond Head.

This Nuuanu Estate (MLS# 1010827) is a rare offering that hasn’t been available many years

3. 187 Dowsett Ave. (MLS# 1010827) is located in Nuuanu, where all the “old money” of Honolulu used to be. This home was built back in 1925. Not only was it incredible in its time, it was remodeled in 2010. It sits on 3.72 acres, boasts 6 bedrooms and 6.5 baths, and is over 6,725 square feet under roof (according to MLS).

If you’re interested in Luxury Real Estate on Oahu, check out my gallery for more homes, or contact me for more information.

East Oahu Gated Communities – Townhouses for Sale

Mark Buck, R — Fri, 02 Jul 2010 00:00:14 +0000

Like the gated communities of Hillside East Oahu, the gated townhouse communities of East Oahu also offer residents less traffic, better security, and generally higher property values than your standard home.

Entry to Kuapa Isle (MLS# 1003887) in Hawaii Kai

A few of these gated community homes have ocean views, and a number of them have direct marina frontages, some even withÂ haveÂ boat docks. The communities vary as to how the gates are utilized. The simplest of them have a gate without a guard that residents enter using garage door-type openers, with entry keypads for guests and backup purposes. The higher-end properties have staffed guard shacks with varying hours of when guards are present.

The townhouse gated communities share the same benefits as the single family communities. These include less traffic, better security, and generally higher property values. The drawbacks include a higher maintenance fee to cover guard costs, the monitoring of residents’ movement, and having guests register or get bussed in when visiting.

La Pietra (MLS#1002971) is on the grounds of the former Walter Dillingham Estate at the base of Diamond Head, and is walking distance to the Gold Coast and great beaches. Currently, there is only one listing available, with another expected to hit the market soon. It has a staffed guard gate and the highest prices of these communities to go with it.

Kahala View Estates (MLS# 1006667) has one active listing, and Kahala Pacifica (MLS# 1006659, 1008133)Â currently has two.Â They are bothÂ conveniently located in Waialae Kahala near the Kahala mall and other conveniences.Â Both properties have a partial ocean view from some of the units and do not have a guard at their gates.

Further East in Hawaii Kai there are a number of gated Townhouse Properties, but Kuapa Isle, Kalele Kai and the Penninsula are three unique ones.Â All of these properties have the benefit of a community with three large shopping centers,Â an updatedÂ Costco, movie theaters, numerous restaurants and service establishments. Along with all of this they have the benefit of marina and ocean activities.

Kuapa Isle (MLS# 1003887) has a staffed guard gate, and the units along the perimeter of the development are all marina front. They also have amenities including a clubhouse, swimming pool, and a boat ramp and storage area. The prices of these units vary quite a bit due to location or frontage.

Kalele Kai (MLS# 1003839) has a combination of mid-rise and townhouse units. They have a securityÂ gate,Â and boat docks are alsoÂ available.Â There is also a clubhouse, pool and jacuzzi.

The Penninsula (MLS# 1004371, 1007591, 2916087) is one of the newest developments in Hawaii Kai and was developed by Stanford Carr. Within the complex there are single family, high rise, and townhouse units.Â The amenities here include swimming pools, meeting/party rooms, and a fitness center.

If you’re interested in gated communities, contact me for more information.