Dan developed the table below to show all 35 Hawaii Kai condominiums and townhomes: 15 marina-front townhomes, 11 off-marina townhomes, and 9 high-rise or mid-rise condominiums; year built; number of bedrooms available; total number of homes; the median fee simple sale prices and number sold in 2016 to 2019 (YTD); and the percent Turnover.
For the same information for Hawaii Kai Single Family Homes, see the associated blog.
DAN MADDEN developed this table to show all 35 Hawaii Kai condominiums and townhomes: 15 marina-front townhomes, 11 off-marina townhomes, and 9 high-rise or mid-rise condominiums; year built; number of bedrooms available; total number of homes; the median fee simple sale prices and number sold in 2016 to 2019 (YTD); and the percent Turnover (number sold in a year divided by total number of units), a measure of market activity. For Kuapa Isle and Koko Isle, only fee simple marina-front sale prices are used. For the High & Mid Rise CONDOMINIUMS only two bedroom sale prices are used. In all cases, number of sales includes all sales in the complex. Most of the marina-front communities also have off-marina homes; however, all are members of the Hawaii Kai Marina Association, pay dues of $475 per year, have marina privileges, and many have boat dock access. See website for details www.hawaiikaimarina.com. Kalele Kai, Colony, and Esplanade are also marina-front. Napua Point is ocean-front. Monthly maintenance fee for High & Mid Rise two bedrooms ranges from a low of approximately $676 in Heritage House to a high of approximately $1,415 in Mt Terrace; for Townhome three bedrooms from a low of approximately $390 in Nanea Kai to a high of approximately $1,337 in Kalele Kai Townhomes; averaging around $750. Sewer fee is $57 per month for all Hawaii Kai condos and townhomes; some include sewer in the maintenance fee. Taxes range from approximately $125 to $600 per month, depending on size and home exemption; averaging around $175. Most communities are pet-friendly but requirements vary; see house rules and www.hawaiianhumane.org for details.
Higher End Prices Softening!
After 10 years of gradual price increases (4-5% per year), the market’s turning. When a market corrects, it’s common to first see price declines in the higher priced neighborhoods. Island-wide, single family home prices decreased slightly in the last year, from $789K to $785K (essentially flat), while in Hawaii Kai they dropped from $1,185K to $1,092K (8% decline); condos and townhomes, island-wide, $425K to $429K (1% increase) and in Hawaii Kai, $667K to $695K (4% increase). Prices have only gone up around 42% in the last 10 years, a small increase compared to the 140% increases during the two big up-ramps in 1986-1990 and 2000-2006. Accordingly, I would think there is a small chance of a large price correction; more likely flat or a small further decline.