Wow! We all know inventory is tight, but who would have ventured to guess that there are no single family homes currently on the market in Hawaii Kai for under $1 million? And, who would have believed a year ago that there would only be a handful of homes on the market for under $2 million? Seven to be exact.
Hawaii Kai Living
For those of us who live in Hawaii Kai, we understand the appeal. You can’t help but love this marina front community with beautiful southeast facing shores, gentle trades, sunny weather, and water, water everywhere. The marina, waterways, bay, and beaches that encircle and flow through this lively community are definitely eye catching and desirable. You don’t have to be a rocket scientist to understand the appeal. But, the price jumps are still astounding, especially for those of us who have lived here for years. I can remember when the average home was much closer to $300,000. In fact, our first home in Hawaii Kai was a leasehold property that we purchased for $130,000. At least no one can say that Hawaii properties don’t appreciate!
Truly, it is hard to wrap our brains around this new normal, but perhaps it isn’t that surprising. After all, land is limited and there are no new building starts. The weather, the location, and the community vibe draws lots of attention from both mainlanders and those who grew up here and want to stay in the neighborhood they love. Of course, the drawback will be affordability for many, but if you have the means, Hawaii Kai really is a great place to live.
Neighborhoods Under $2 Million
If you want a single-family home for under $2 million, there are currently a few neighborhoods to choose from — Koko Head Terrace, Kalama Valley, Mariner’s Cove, or Mariner’s Ridge. The average price for the seven available homes is roughly $1.5 mil. The median is $1.395,000. The homes vary in size and style, as do the individual neighborhoods. So, you’ll want to take a look for comparison’s sake. In the meantime, here’s a link to the current inventory.
It remains to be seen as to whether prices will continue to climb. One thing is for certain, though. Hawaii Kai is a great place to call home!