I study the market constantly to uncover trends. This helps my clients whether they are buying or selling. The Kahala neighborhood has some of the most expensive real estate on Oahu on a per square foot basis. Kahala Avenue is one of the prime streets in Honolulu. Watching the sales at the upper end of the market can be an indicator of the health of the entire market. Out of the 11 sales above $3 million in the past year let's look at what actually sells in Kahala.
Kahala properties, what sells?
Close to the beach - Being as close to the beach as possible is important. With 2 exceptions, all of the sales happened within about 2 blocks to the beach. Anywhere in Oahu, being close to the ocean costs a premium. ocean front property is still the ultimate luxury for so many. It is no wonder that those properties are the most expensive.
New or newer homes - Most of the these luxury homes that sell are either new or nearly new. Most of the homes have been built in the past 10 years. The oldest home, built in 1929 has been extensively remodeled. All of these luxury homes save for one also are grand, custom homes. Typically with high ceilings and open spaces.
Large houses - All of these properties that sell in Kahala are over 3000 square feet. The one exception is a brand new home on Onaha Street, which is approximately 2500, but the home was completed in 2014. The architecture is modern, which is a desirable type of architecture.
Which luxury homes will sell quickly in Hawaii?
Based on the above criteria and list prices, here are the luxury homes that I feel are likely to sell quickly:
4401 Aukai Avenue - This 6 bedroom, 3 and a half bath home was built originally in 1953. This home was completely remodeled recently. This is an unusual property on Aukai Avenue. It fronts on both Aukai and Elepaio Street. This single story home with a wonderful covered lanai area and pool area. The front of the property on Aukai is very unassuming. Listed for $3,050,000 the home is attractively priced and likely will sell quickly.
4675 Aukai Avenue - This home built in 1949 is open and gratious. The high ceilings and wide open lanai flows out the pool area. This 3 bedroom, 3 bath home is not huge but has been completely remodeled. It is a home with more Hawaiiana architecture. Listed for $3.75mil. The location is ideal close to a beach right of way.
4534 Aukai Avenue - Finding a truly large home is unusual in Hawaii. This 6066 square foot home is one of the largest homes to be offered. This 5 bedroom, and 5 and a half baths was just completed this year. Built by a popular developer. The homes has a wonderful elegant floor plan. High end materials were used throughout. To build this home would cost much more than the $4,995,000 list price. There is nothing else like this on the market and should sell soon.
114 Royal Circle - This 4 bedroom, 4 and a half bathrooms is one a prestious street. This home originally built in 1937 was extensively remodeled in 2002. The home has a pool with a disappearing edge. The home has a stunning ocean view out over the ocean. Steps to the beach. Listed for $8,875,000 this should sell for close to the list price.