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Hawaii Kai Market Trends September 2019

Prices Softening!

Dan Madden developed these charts to show Hawaii Kai price trends. Home prices increased around 140% from 1986 to 1990 and from 1999 to 2006, then dropped until 2009, rising since. Islandwide, the median price has increased around 4% per year for the last 10 years. Overall, Hawaii Kai prices have dropped around 5% in the last year while island-wide, prices have increased around 3%. The charts show mixed results, some product lines increasing slightly or flat, some decreasing. “Days on Market” and “Number of Homes for Sale” have increased slightly; “Months of Inventory” is flat; and “Number of Sales” has decreased slightly. Normally, market changes manifest first in the higher end properties. If you’re thinking of buying or selling, email DanMadden@HawaiiLife.com or call 384-9933.

Single Family

The top line in this chart is for the 7 “very very expensive” Hawaii Kai/Portlock neighborhoods (Koko Kai, Portlock, Triangle, Peninsula Executive Residences, Le’Olani & Napali Haweo).  Twelve very high 2007-2019 sales ($6-16M) are not included because they would skew the chart. The second line is Marinafront homes from 9 neighborhoods.  The third line is for the 12 “very expensive” neighborhoods (Mariner’s Ridge, Koko Villas, Queen’s Gate, Mariner’s Cove, Peninsula Carriageways, Anchorage, Kealaula Kai, Kai Nui, Marina West, Spinnaker Isle, Upper Hahaione Valley, West Marina, and Luna Kai). The fourth line is for the 8 “expensive” neighborhoods (Laulima, Kalama Ku’u, Kalama Valley, Kamehame Ridge, Kamiloiki, Mariner’s Valley, Lower Hahaione Valley & Koko Head Terrace). All Hawaii Kai home sales are represented in this chart.

Condo/Townhome

The top line in this chart represents Marinafront Townhome sales and includes Kuapa Isle and Koko Isle as being representative. The second line is luxury 2 bedrooms in Kalele Kai and Mount Terrace and 3 bedrooms in the Colony at the Peninsula.  The third line is off-marina townhomes and includes 3+ bedrooms in Kalama Ku’u, Mariner’s Villages 1/2/3, Lalea, Moana Kai, and Nanea Kai. The fourth line is 2 bedrooms, less than 1400 square feet, in Esplanade, Colony, Plaza Hawaii Kai, Naniwa Gardens, Heritage House, Mauna Luan, and Commodore. The bottom line is 1 bedrooms in the same seven buildings.

Higher End Prices Seem To Be Softening!

After 10 years of gradual price increases, it seems the market may be turning. It’s common to see this, initially, in the higher-priced markets. Though island-wide, prices are increasing, we’re seeing declines in some neighborhoods and high-end condos.  In a market like this, it’s important for a Seller to prepare their home well and price it strategically.

Sellers recognize Dan’s reputation for getting the highest price, in the shortest time, with the least inconvenience.  His many years of real estate, military and engineering management experience benefit his clients greatly. Dan has sold over 400 Hawaii Kai homes, way more than any other Realtor.

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Scott Conrad

August 26, 2019

Dan, thanks for the information. With mortgage rates dropping, houses are getting more affordable.

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