Hawaii Life Real Estate Brokers » Windward Coast

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!

Hawaii Five-O (Ki’ilua) Visits Ka’a'awa Real Estate

David E. Buck, R, BIC — Tue, 06 Dec 2011 01:30:48 +0000

Ki’ilua debuted on November 21st and featured shoots in Kaaawa on at least three different scenes. The episode started with a reporter getting killed in her Chinatown apartment. The following day, Chin Ho Kelly is having a picnic in the back of Kualoa Valley in Ka’a'awa with his long time love and actually proposes. The romance is cut short as he is called in to investigate the murder in Chinatown.

This Ka’a'awa estate for sale (MLS# 1111241) is minutes from Kualoa Ranch in Kaaawa

Shortly after, McGarrett is having lunch at Kualoa Beach Park in Ka’a'awa with a beautiful backdrop of “Chinaman’s Hat.” He is having lunch with special agent Jenna Kae who resurfaces to let him know she heard from her missing fiance who is held captive in North Korea. She solicits his help, and like any hero, McGarrett accepts.

View of Chinaman’s Hat from another estate (MLS# 1107571) near Kualoa Ranch

Jenna and McGarrett head to North Korea to a rendezvous spot that could very well have also been shot in Ka’a'awa, or somewhere on Oahu’s Windward Coast. When they get there, they are ambushed by Wo Fat as it was a set up. The Five-O Team discovers that their murder investigation is tied to agent Jenna Kae as she had interacted with the murdered reporter a few days prior in Kapalua, Maui.

The team then enrolls Joe White to help set up a rescue team to get McGarrett out of North Korea. While there, they run into an old war buddy of Joe’s played by Jimmy Buffett. They contract with Jimmy Buffett’s character in South Korea to fly them in by helicopter for the rescue. When they fly in and out, the landing spot seamed all too familiar to another area of Kualoa Ranch in Ka’a'awa that was shot during TV’s Lost.

They were able to rescue McGarrett, and unfortunately, Wo Fat got away…If you’re interested in living your Hawaii Five-O life in Ka’a'awa, feel free to contact me for more information.

David E. Buck, R
Hawaii Life Real Estate Brokers
808.371.3509
David@HawaiiLife.com

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%

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.

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.

Oahu Homes Sales Down While Prices Remain Stable

David E. Buck, R, BIC — Wed, 11 May 2011 00:51:59 +0000

In April, we experienced one of the largest dips in home sales on Oahu in awhile.

This Honolulu home (MLS# 1014958) is priced at April’s median price of $585,000

Existing home sales were down 19.6% from the previous year. Condo sales were also down 6.7%. On a brighter note, prices were stable as the median sales price on Oahu was up 3.5% for homes to $585,000 and down just 0.7%Â to $305,000 for condos.

Although the dip in home sales may be alarming, April is typically a slower month as people are preparing their taxes. This was also the first bump up in prices this year.

What neighborhoods were great for sellers in April?

Home sales on the Pearl City-Aiea were up 220%
Home prices in Aina Haina-Kuliouou were up 109.2%
Condo sales on the Windward Coast were up 300%
Condo pricesÂ on the Windward Coast were up 74.1%

What neighborhoods were great for buyers in April?

Home sales in Kalihi-Palama were down 61.5%
Home pricesÂ on the Moanalua-Salt Lake were down 18.7%
Condo sales in Wahiawa were down 100%
Condo prices on the Wahiawa were down 100%

Hawaii Five-O (Ma Ke Kahakai) Visits Ka’a'awa Real Estate

David E. Buck, R, BIC — Fri, 22 Apr 2011 04:18:48 +0000

Last week’s episode started off with Dano and McGarrett hiking in Kualoa valley in Kaaawa.

Kualoa Valley in Windward Oahu’s neighborhood of Kaaawa

Kualoa Valley is part of Kualoa Ranch, a privately held parcel of land that caters to ecotourism, and is the backdrop of many television and movie scenes. It’s a phenomenal spot you must visit on Oahu…

While climbing on a remote part of a ridge, McGarrett and Dano stumble upon a dead body. When repelling down, a rock becomes loose hitting McGarrett in the head and breaking his arm on the fall. Meanwhile, Dano has to go call for help.

This oceanfront lot in Kaaawa (MLS# 1100663) is listed for $848,000

As they await help, they notice a bullet hole with some fish scales on the victim, which was odd as he was found far from the sea. Once they get back, they are able to analyze the scales which leads them to a fishing vessel where Ehu (a rare bottom fish) was caught.

They find out that the fish was sold to Morimoto’s restaurant at the the Waikiki Edition Hotel. There, they were able to uncover the bullet to run a ballistic test. They were able to trace the gun to a prominent business man, who turns out was trying to cover up for his son who was a convict on the run.

The Five-O team shows up at the business man’s home. The subtitles that said it was in Diamond Head, however, by the looks of the architecture, this home was either in Nuuanu or Manoa. Upon the raid, they were able to confirm they got their man.

If you’re looking to live your Hawaii Five-O life in Kaaawa, contact me for more information.

March Real Estate Prices Down on Oahu

David E. Buck, R, BIC — Fri, 15 Apr 2011 00:07:56 +0000

You know the saying that goes “all is relative?” Relative to 2010, Oahu condo and home sales are in a slump. Existing home sales were down 2.4% and condo sales down 8.1%. The median sales price for homes were down 8.6% to $548,500 and condos were the glimmer of light up 1.6% to $315,000. That’s the bad news.

The good news is relative to other parts of the country, our market is still “relatively” healthy. The average days on market for a home to sell in March was 41 for homes and 46 for condos. In addition, one strong sign for our economy is that Honolulu’s unemployment rate is relatively low at 8th lowest in the nation.

This Makakilo home (MLS# 1100044) is asking $500 more than March’s median price of $548,500

What neighborhoods were hot in March?

Home sales on the Makakilo were up 125%
Home prices in Aina Haina-Kuliouou were up 35%
Condo sales in Makakilo were up 175%
Condo prices on the North Shore were up 66.3%

What neighborhoods were not hot in March?

Home sales in Hawaii Kai were down 55% *
Home prices on the Windward Coast were down 33.4% *
Condo sales in Aina Haina-Kuliouou were down 50%
Condo prices on the Windward Coast were down 39.8%

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 whatâ€™s going on in the market, and if now is the time to buy or sell.

* Ala Moana-Kaakako actually had the largest drop in home sales and prices, however, the data is skewed with only one sale due to very little homes in that neighborhood (primarily all condo product).

Windward Oahu’s Marina Lifestyle in Kaneohe

David E. Buck, R, BIC — Thu, 25 Nov 2010 21:30:49 +0000

The town of Kaneohe is an easy commute from Honolulu…only about a 20 minute drive over the mountain pass to the windward (East side) of the island.

Marina lifestyle can be yours at Kaneohe Yacht Club…

Kaneohe is largely a residential community of approximately 35,000. Its backdrop is an etched, green, and jagged 2,000 ft. dramatic mountain range setting, often seen in Hollywood films produced in Hawaii. The tranquil shoreline in and out of town is dotted with beach houses all along the calm “bay” waters…a perfect mecca for boating and fishing!

The “Kaneohe Yacht Club” is a friendly and relaxed family boating atmosphere surrounded by beautiful bay side and hillside residential homes, and low rise condos. There is deep sea fishing, sailing, cruising, sailing races and tennis at the club, and 3 championship golf courses nearby.

This Kaneohe waterfront home (MLS# 1000334), asking $1,249,000 has an accepted offer on it

The price of homes and condos are surprisingly affordable given the close proximity to Honolulu, the beautiful tropical coastal climate, and the absolute stunning visual beauty of this region! An awesome product is Makani Kai Marina, which is a gated community that offers private boats slips, a swimming pool, and a clubhouse.

This Makani Kai Marina town home (MLS# 1010317) is a 2 bed/2 bath listed for $619,000

Contact me for more real estate information on the “marina lifestyle” in Kaneohe.