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Condo For Sale in Mililani
2008-05-13 23:55:00
I listed this beautiful little condo in Mililani for $309,000. We got an offer after just 9 days, but we are still in negotiations. So it's available if you want it!It's located in lush Launani Valley, which is the North end of Mililani. Very green mountains with cool air blowing all year. It feels like you're in a tropical rain forest, probably because you are. This condo has a brand new kitchen, from top to bottom. Appliances, cabinets, sink, everything is new! And check out the great view out the windows to the forest. Mililani is located in central Oahu, which is a great area that allows you to get anywhere on the island in under about 30-40 minutes with no traffic. You can get downtown faster from Mililani than from the Ewa and Kapolei areas too. If you don't like hot weather, avoid the West side, and consider Mililani. It's cheaper than Kailua or Kaneohe, but the weather is similar. Also the homes are cheaper. This same condo in Kailua would cost you around $425k.
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How to negotiate when buying or selling a home in Hawaii
2008-05-06 20:17:00
One of the most important skills a Realtor must possess is that of negotiation. It's one thing to market and make a house look nice, and even to get people to bring in offers, but the bottom line is almost always the price. (Sometimes it's the timing.)So let's take an example from my recent negotiations. Suppose you're my client on a purchase, and we want to buy a house that is listed for $700k in Kailua. You like the house and you're willing to pay about $680k for it. What should you offer?Not so fast. The fist step is to find out as much information about your seller as possible. Is he buying a condo somewhere? Is he in escrow already? Is he moving to the mainland? Has he already bought another house in Kaneohe? Is he paying two mortgages? Is there a divorce or a marriage? Kids? Job transfer, layoff, or promotion?All these things can be discovered in a few short minutes by talking to his agent. If his agent is smart, he won't reveal a lot, but you would be amazed at what peo...
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Aloha Airlines shuts cargo - you should be living on Oahu
2008-04-29 18:34:00
Yesterday Aloha airlines closed its air freight business after its lender, GMAC, cut off financing. Aloha was responsible for 85 percent of all goods flown between O'ahu and the Neighbor Islands.Everybody on the neighbor islands is going to be massively impacted by this. The Big Isle, Maui, Kaui, Moklokai, Lanai, everybody except Oahu . Retailers and wholesalers of baked goods, produce, meat, medical supplies, newspapers, auto parts, construction materials, and just about anything on those islands that comes from Oahu, which is just about everything! Who will step in? Hawaiian air maybe? The Hawaii Superferry is an option for for some, but so far only serves Maui and O'ahu, so what about Kaua'i and the Big Island?Grocers were flying in fruit and vegetables from O'ahu everyday. Before the late 1980s, so people will have to go back to the way it was - slow and expensive.Even if another air carrier comes into the market, they are likely to charge higher prices. And THIS is why...
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Buying a house in Hawaii with zero down - Yes you still can
2008-04-24 03:45:00
While most lenders on earth have stopped doing 100% financing of any kind, there are still 2 ways (that I know of) to get a house for zero down in Hawaii . One is to use a VA loan, which is now one of the best deals out there. There is no monthly mortgage insurance, and instead a 2.15% funding fee at closing. All you have to do is be in the military at some time and get your "certificate of eligibility." The VA loan goes up to $625k with zero down, and they actually will go above that.If you want a buy a house in Hawaii Kai or Kailua, or anywhere in East or Windward Oahu, you'll need quite a bit more than $625k. Well the VA will in fact give you that loan, as long as you have 25% of the amount above $625k. So if you are buying a house in Kailua for $700k, you just need $18,750 down. You can still finance the closing costs through seller credits, and also get some of your debt paid off too. VA is awesome.The other way is to join Navy Federal Credit Union, which has zero down ...
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Falling real estate prices at resorts - Another reason why Oahu is better t
2008-04-23 23:24:00
The Advertiser report today that at the end of 2007, Hawaii resort real estate sales (mostly on the Big island and Maui) declined 20 percent last year to 1,535 properties. While average prices rose 22 percent to $1.6 million for the full year, prices fell the second half of the year. 761 of the 1,535 Hawaii resort real estate sales were for under $1 million, down from a year earlier when 1,119 of 1,914 sales were under $1 million.There were 160 sales for over $3 million last year, up from 133 in 2006. That's pretty amazing. I guess the recession hasn't hit the very wealthy. These numbers count Oahu real estate sales at master-planned communities with resort zoning, which includes Ko Olina Resort but exclude sales in Waikiki. But most of the numbers come from Maui, Kauai, and the Big Island, where there are a lot more large resorts. On Oahu, Ko Olina is the only big resort selling property. Sure there are some condos at Turtle bay, but nothing big enough to effect our market h...
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This Kailua house is in escrow
2008-04-23 09:21:00
Some clients of mine have this Kailua home in escrow as of this weekend. It's a great old house built in 1968 with 2,586 sqft of space, which is listed for $725k. It's a big house which has 5 bedrooms and 3.5 baths., which is divided into two separate units.This house has 2bedrooms and 2baths upstairs and 3bedrooms and 1.5baths downstairs w/separate entrances. Many houses in Kailua have a 2nd unit that is either rented or used by extended family. Since the average price of a starter home in Kailua is about $700k to start, and over $1million for a nice renovated home, many people have some kind of second unit to reduce the costs. Besides the beach nearby and the great town, one of the advantages of Kailua is that the drive over the Pali into town is usually pretty quick, at around 20 minutes.
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Great new-ish house in Hawaii for $689k
2008-04-17 02:22:00
A client of mine flew in this week and bought this great house in Royal Kunia, which is listed for $689k after a big price reduction from $715k. With over 2100sqft and a golf course and ocean views, you can see why he is very excited about this home, which was built only 3 years ago!As we inspected this house, I found several things that were really great about it, things that are not that common in Oahu real estate. I know these things might sound small, but they all add up to a really great property for a great price. It has wired lighting all around the outside. It has a huge attic space for storage, where we also found the house has high tech insulation. Not too many houses here have any insulation at all. Huge area for workspace or for parking 3 motorcycles in the garage. The kitchen vent actually vents outside instead of recirculating. I know this is standard on the mainland, but for some reason in Oahu there are tons of houses with no outside ventilation in the kitchen. Upsta...
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Hawaii Kai condo - in escrow
2008-04-10 21:53:00
I currently have this nice Hawaii Kai townhouse in escrow at Nanea Kai. I've posted about this complex before, a great complex built in 2003 with 3 story units as large as about 1600ft. The one I have in escrow is 1582sqft with 3bedroom 2.5 Baths and a nice Lanai of 80sqft. It also has some nice views of mountains and you can see a tiny sliver of ocean. As you can see they have nice kitchens, and when upgraded well, these townhouses can feel very luxurious. This one has wood floors, stainless appliances, and wood blinds. The new owners may install shutters. Nanea Kai is right in the center of Hawaii Kai, so you can easily get to town within 20 minutes, and Costco is just a short walk down the street. Since the complex was built in 2003, it has all the modern amenities, except for a pool, which keeps the monthly association fee down to about $300. Fortunately, the Oahu club is just a quarter mile down the road, where you can get their swim and tennis membership for about $100/mo...
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What you get for $650k in Oahu Real Estate
2008-04-10 00:23:00
The median price of Oahu real estate is currently $658k, but what can you get for that price?depending on which are you want to live in, it's very different.In the best areas of Oahu, you can get a nice condo or town house, or even a small older house near the beach for about that price, and farther out West in the suburbs, you can get a nice brand new, larger house ith all the modern amenities. If you want to buy a house for $700k, it will cost about $4500/month including taxes in Hawaii, assuming you have 5% down and your credit is good. Kapolei - for about $670k you can get a house like this one with 4bedroom 2100sqft, built in 1993. There are newer homes too, which might be a little smaller for the price. Kapolei is a great new master planned community with nice new schools, roads, and everything else. It's called the second city on Oahu, because all the new growth is happening there. The new courthouse, new roads, new shopping (Target), and a lot more planned growth is happen...
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Oahu real estate March Sales Statistics (again)
2008-04-08 23:20:00
There are so many numbers on the monthly statistical report that it's hard to know exactly which ones are the most important. Is it the median price of all single family homes on the entire island of Oahu? That number is very broad, and perhaps an indicator, but not very helpful for understanding if a particular area is doing well or not.It's also not helpful for understanding whether prices are rising in Honolulu real estate, because it could just be that cheaper homes sold while more expensive homes sat, even if their prices rose. Then there's the amount of inventory, the number of sales, the number of months of available housing, the number of new listings in each neighborhood, the days on market of homes and condos in Oahu, and of course, the average price, which is different than the median price.The most helpful numbers seem to be always very specific. If you have a house in Kailua and you want to know its value, it's more helpful to know how many homes sold and the actua...
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Hawaii real estate values jump up in March
2008-04-08 01:23:00
The Honolulu board of Real tors released the March statistics for Oahu home sales and the numbers this month were quite surprising to everyone. Many of us expected the numbers to be lower than they were, as nationwide housing seemed to be in a slump.However, the median price of Oahu homes sold in March was $628k, which was a jump of $29k in one month. The Condo median price was $329,300.In February only 163 homes sold on Oahu, but in March 282 homes closed, which is a massive increase, and may be a sign that the slow down is at an end. With nearly 400 condos sold, we are looking great for 2008. While the number of homes sold is definitely lower, with 23% less sales island wide, prices are not only strong but going up in many areas. Homes are taking 47 days to sell in Oahu, while condos take only 39 days. That means there is not a very quick market here compared to other areas. 17 homes sold in Kapahulu and Diamond Head, with a median price of $677,500, which is down significantly...
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Weak Dollar is Great for Oahu Real Estate
2008-03-28 22:09:00
Recently I have been seeing more and more activity from Canadian, Australian, and Japanese buyers. The recent $23 million purchase in Kailua demonstrates how powerful the Japanese buyers can be.Canadians too have more buying power, with about a 30% rise in their currency lately, and 50% over the last several years. Canadians, especially on the west coast, are finding great opportunities to buy Oahu real estate at a reduced cost for them. Vacation homes, retirement homes, and investment properties are all popular ways for foreign investors right now, all fueled by the weak dollar policy that the Fed claims they don't have, but do.The Yen has gained over 15% on the dollar in one year, which makes Oahu real estate very attractive right now. What do these foreign buyers want? Some want a regular little home, but most want ocean front condos or luxury homes in the several million range. Luxury Oahu real estate is the biggest benficiary, as wealthy foreign investment here is going st...
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Population of Honolulu goes down, home prices too.
2008-03-27 23:33:00
In the News today: Honolulu 's estimated population was about 905,601 in July 2007 which was a 0.1 percent decline. The Census bureau estimates there were 1,114 fewer people in Honolulu on July 1 than a year earlierIt's hard to believe there are over 900,000 people on this island, when you consider that it only takes about 40 minutes to get from one end to the other. Also, most of the people live along the south side, right in Honolulu town, while much of Oahu remains uninhabited. If you drive up to the North Shore from the Windward side, you'll see there is still plenty of space on Oahu for people to live, there just isn't much infrastructure out there.This leads me to wonder how many people this island can sustain without being in massive trouble. How much water, power, trash, sewage, etc, can the island sustain? How many more people can move here before the amount of housing just completely runs out? How many more people can the freeways and roads handle? All these things...
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Honolulu Homes For Sale
2008-03-25 19:45:00
There are currently 1924 homes for sale on Oahu, and of course the entire island if the city of Honolulu . There 2476 condos for sale in Oahu, with a median list price of $339k. That's the higest list price in the history of Oahu real estate, which just shows how strong our market is compared to other states. Single family homes on Oahu are listed at a median price of $675k.There were 287 Condos sold in metro Oahu, this year through February 29th, with a total of 548 condos sold island wide. That's down 21.7% since last year, when 700 Oahu condos sold. However, the average sales price is up 3.7% sinc last year, and the median sales price of Oahu condos is up 4.1% since last year. All around Oahu, real estate is selling at record levels. In Moanalua and Kalihi, median prices are now $742,500, compared to just $600k last year. While the number of homes sold has dropped by 32.1%, the median price has risen 23.7%!In cored Honolulu, the median price of homes was $780k, compared to ...
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Molokai gets bad news, Oahu real estate is more stable as always
2008-03-25 19:26:00
This morning's paper reported that Molokai farms is shutting down, taking 120 jobs away from the sparcely populated island. On an island with only a few thousand people and nowhere else to work, that is huge news.People ask me everyday which island they should live on and start a business, and I always tell people that Oahu has the most stable economy and infrastructure. If you move to Maui or Kauai and try to start a business, you're going to be in for a rude awakening. In most areas of Maui, Kauai, the Big Isaldn, and Molokai, there aren't enough people to support a new business, and if you don't know anybody you'll have a hard time getting the word out. Traditional advertising doesn't work very well on those islands.Oahu has nearly 8 times the population of other islands, with new people and new businesses springing up all the time. The closing of one business doesn't effect our island's economy the way it would effect a smaller island. Oahu has a very deep and diver...
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Great news for Oahu real estate - lower taxes in the future
2008-03-20 04:01:00
Oahu real estate owners got some good news this week. The Advertiser reported that the City Council is going to hear a plan to make property taxes in Honolulu adjust each year based on inflation instead of assessed value under a bill.The taxes on Oahu real estate are already low compared to states California, Texas, and New York, where people pay between 1-5% of the property value in taxes. The bill is intended to make property taxes avoid spikes caused by rises in the Oahu real estate market. Oahu property taxes are currently $3.59 to $3.29 per $1,000 of assessed value."Under the proposal, the assessed value of taxable residential real property would be determined each year by adjusting the previous tax year's assessment for the property by the most recent change in Honolulu's consumer price index."The growth in real estate taxes over the last several years has been a real burden. The Advertiser said that "about 7,000 owners appealed their assessments in 2006, according to th...
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More Military means good news for Oahu Real Estate!
2008-03-19 20:44:00
The army announced this week that they want to bring several thousand more soldiers to Schofield Army base, which is great news for everyone that owns real estate within 15 miles or so. There are already over 10,000 people working at and living at Schofield, and 2000-3000 new soldiers would greatly increase the need for housing in Mililani, Wahiawa, Royal Kunia, Kapolei, Waikele, and Ewa Beach. Even those who are young enlisted guys can afford a nice condo in Mililani, and anything is better than living on base. The officers that come to Hawaii usually bring a good sized family with them, and a huge housing allowance around $3000. In Central Oahu, that’s plenty to buy a great house, especially in Royal Kunia.Royal Kunia has a great back road access to Schofield that nobody else really travels. It’s about 20-25 minutes up Kunia road to Schofield, and the homes in Royal Kunia are great. Built after about 1995, all the homes in the area are nice and large, well built, and have a...
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Hawaii real estate for investment
2008-03-18 03:55:00
Investors around the country are picking up bargains these days, with prices down and inventory up. If an investor is looking for Hawaii real estate, where should he buy right now?Answer - Oahu condos. Conds on Oahu rose in price to an all time record price last month, even as single family homes declined over 12% from their record a year ago. Also, rents in Oahu are still at record levels with no sign of cooling off. There are nearly 1 million people living on Oahu, and that means there is a terrible shortage of good rentals. So if an investor is looking to 1031 exchange or purchase new investment property in Hawaii, condos are the answer.In particular, I like Hawaii Kai and Kailua condos. In Hawaii Kai, a 3 bedroom condo or townhouse can get about $2500-$2800 in rents right now, and it costs about $450k-$500k to own one of them. That means with about 20% down you can just about cover your mortgage. For Hawaii Kai condos, you should consider Lalea, Mariner's Village, Nanea K...
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Hokulani Condos in Kailua
2008-03-18 01:05:00
There are several condo options in Kailua town, starting at about $300k and up to $700k. One great option that is close to the beach and within walking distance of just about everything else is Hokulani.Hokulani in Kailua was built in about 1990, with a great location off Aoloa st, so you can walk to the grocery store, Starbucks, and anything in Kailua town. These 2 story townhouse style condos are about 800sqft, most with 2 bedrooms, and a decent grounds. The monthly fees are lower than Poinciana Manor or Gardenia Manor because the grounds are not as elaborate. No koi ponds, no pool, no tennis courts like Windward acres. Hokuani has nice modern construction, and many of them have been nicely updated. At about $360k for a 2bedroom condo, the prices are hard to beat. You can have a nice mountain view from Hokulani, and it's about a 15 minute walk to the beach. Condos in Kailua are a wonderful investment, as renters abound. Because it's only 5 minutes to the marine corps base, you c...

Oahu North Shore beachfront homes
2008-03-13 01:26:00
North Shore - Homes on the North Shore of Oahu offer great beachfronts, with wide white sand beaches and famous surf. From Mokuleia to Laie, the houses on the beach on Oahu’s North Shore can vary greatly. Starting in Mokuleia, this quiet part of the North Shore has many older homes sitting right on their own little white sand beaches, with great water for swimming most of the year. Waves come in the winter, but not close enough to shore to be a problem. You can get a beautiful beachfront home for just a few million, and have a lot of privacy. You’ll hardly ever see anyone on these secluded beaches. North Shore beachfront doesn’t always mean huge surf and lots of tourists and pro surfers. In Mokuleia, it usually means uncrowded beaches and mostly residents. Over in Waialua the beaches can also be fantastic, although sometimes you get some brown water from the river runoff. Houses in Waialua tend to be very old and often run down, though some people have begun to renovate. ...
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Oahu Beachfront homes - Waimanalo
2008-03-13 01:23:00
Waimanalo - You don't hear about Waimanalo very often, but it has beautiful beaches and a quiet old Hawaii feel. Many of the residents have lived there for generations. Homes on the beach in Waimanalo tend to be older and cheaper, around $2-3million. The beach and the water in Waimanalo is beautiful, and buying real estate there can be a really bargain compared to other areas. You'll likely have to drive to Kailua for groceries and everything else, but that's only a 10-15 minute drive.Life in Waimanalo is a throw back to the Hawaii of 50 years ago. The pace of life is slow, and the town is just a tiny strip of small stores that is very easy to miss as you drive by. But ocean front real estate in Waimanalo is a great option if you like the slow small town feel of it.You can buy beachfront homes in Waimanalo for a fraction of the cost of other areas like Diamond head, and you’re only a few minutes drive into Kailua town, which is probably where you will spend most of your time.
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Kaneohe Waterfront Homes
2008-03-13 01:19:00
The beach in Kaneohe can mean a lot of different things. First there is the bay, which is calm somewhat dark water that is best for boating and not swimming or surfing. There are many beautiful real estate overlooking and sitting on Kaneohe bay, ranging from about $2million to $7million. Homes in Kaneohe are anywhere from 1 day to 60 years old, so you have to see them in person to know what you're getting. It's a little cheaper to buy a home on Kaneohe bay than Kailua, simply because the town is not quite a "cute" and there isn't really any sand to sit on anywhere for real estate on Kaneohe bay. However, that's not to say there isn't any sand at all in Kaneohe real estate...Go up the shore just a few miles and you get some of the best secluded beaches in Oahu. From Kaaawa to Laie, there are several great beaches with great real estate, including Malaekahana, a beautiful beach park and camping spot where you can own an acre of beachfront property for about $3million. The be...
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Kailua beachfront homes
2008-03-13 01:17:00
Kailua Beachfront homes offer something that many can only dream of: a sort of paradise on earth. For $5million you can get a small home on the beach that may need some updating, and for $10million you can get something perfect, something world class. The beaches in Kailua are incredible, with white sand, crystal clear water, and nice gentle waves that are great for surfing. Nearly all Kailua luxury homes are on the beach, with many new homes that have been built in the last 10 years. Kailua real estate is arguably the best place in America to own a beachfront home. Down in Lanikai you get a quiet secluded beach with hardly a wave ever, and up at the Kalama end you get nice waves most of the year, but a lot more wind and waves. In the middle, around the beach parks, the sand is beautiful and the water is perfect too. Beachfront Kailua homes means allow you to enjoy year round ocean breezes and great water for swimming. People love Kailua real estate not only for the beaches an...
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Hawaii Kai waterfront homes
2008-03-13 01:12:00
Buying Waterfront real estate in Hawaii Kai means either Portlock or Koko Kai. Portlock offers large homes on the flat part of the shore, with hardly any waves breaking near shore, and small strips of beach here and there. The Portlock homes tend to be newer, built in the 80's and 90's, and there is even some new construction in Portlock real estate right now. They are all individually built of course. Portlock has a very upscale feel to it, though the streets are relatively narrow for such a high end area. A nice newer home on the water in Portlock will cost between $4million and $15million. Portlock real estate is one of Oahu's finest areas. Koko Kai is the neighborhood built on far end of the natural geographical feature which is actually known as Portlock. I know, it's very confusing. Koko Kai was built on a slightly elevated cliff, just 20-50 feet up. The homes in this area are amazing, and even more palatial than Portlock. Ocean front in Koko Kai means spending $7...
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Diamond Head Beachfront Homes
2008-03-13 00:33:00
Beachfront homes in Diamond Head start at about $3million for a vacant lot of around 10k square feet. It will cost maybe $300-$500/ft to build a nice quality home, so you're looking at around $5million total, minimum. The nicest Diamond Head homes can be $20million, and of course for that price you get prime beach frontage and a beautiful quality home. Diamond Head has some of the best real estate in Oahu.You can have a high cliff side home overlooking the ocean, or you can live down on the flat parts of Diamond Head, including Kahala. This area tends to be the most expensive Oahu beachfront real estate, simply because it's close to Honolulu town.Then on the east end of Diamond Head you have Niu Beach, Wailupe, and Paiko lagoon. These areas are very different from Diamond Head proper. It's flatter, there is only a little sand, and the waves are farther out. There is a large reef that protects the houses from waves, so the water near the shore is very calm, hardly any waves at all...
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