After several months of not having much activity, the Hokua seems to have become very popular recently. The sale of unit 37L for $3.2 million seemed to be the beginning of the frenzied pace. Since that time 4 other units went under contract and are now listed as pending. Ranging in prices from $1.25 to […]
A developer has submitted proposals to develop a strip of land at the end of Mokuhano Street in Kalama Valley, a neighborhood in Hawaii Kai. The 127,172 square foot property is mostly R-5 zoning, with is a residential zoning code and the remainder 28,421 square feet is zoned P-2, which is a designation of general […]
Senator Hiram Fong‘s property on Kaneohe bay is back on the market. Senator Hiram Fong, who passed away in 2004, was a well known business man in Hawaii and became the first Asian-American to become a Senator back in 1959. From his humble beginnings as the 7th child out of 11 born of Chinese immigrants […]
Climcher Realty Trust has partnered with Blackstone Real Estate Advisers, and affiliate of Blackstone group, are going to acquire Pearlridge Shopping Center in Hawaii for $245 million. It is understood that 80% will be controlled by Blackstone Real Estate Advisers and 20% will be owned by Glimcher Realty Trust. Pearlridge is Hawaii’s second largest mall […]
Following a sharp drop in the months immediately after expiration of the home buyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator, rose 5.2 percent to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June, […]
Residential Hawaii real estate in Honolulu is still in demand according to resale figures released today showing median sales prices continue to rise. According to the analysis conducted by the Honolulu Board of REALTORS® , using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are: Single family home resales Number of […]
The Hawaii tourism authority came out with their monthly report which stated this past July’s numbers were the best in 5 years. The visitor statistics showed that this is the first month that all indicators rose since September 2005. The month saw a 9% increase in visitor arrivals to 680,743. The strong arrivals pushed up […]
I read in the New York Times this weekend about how their real estate market is performing. Most price points are doing well, but it is still rather sluggish at the upper end above $10million. This put in mind to analyze Oahu’s inventory at various price points. From this past months statistical reports it is […]
Na Pali Haweo in Hawaii Kai has always been a bit prestigious to live in, but it went through a period of generally being ignored in favor of neighborhoods closer to Kahala and Diamond Head. This has changed as buyers are discovering the beautiful views and potentially undervalued properties. Na Pali Haweo means cliffs of […]
Watching how the local economy is doing reflects strongly on the strength of the housing market, that is why I keep a close eye on the hotel occupancy numbers. The occupancy increased 4.4% year over year last week. That is great sign for the Hawaii economy. As more flights are added more tourists will come […]
After digesting the shock a 27% decline year over year in existing home sales numbers from the National Association of Realtors, I decided to take a closer look at the situation. The one interesting take away is that there was positive sales growth in the over $1 million market. The biggest gain was in the […]
Unlike the national real estate market, the Hawaii real estate market continues to grow stronger. The existing home sales numbers released by the National Association of Realtors paints a somewhat dismal picture on the national market. The most striking figure is the months of inventory growing to over 12 months. That means that at the […]
Existing-home sales were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain, according to the National Association of Realtors®. Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, dropped 27.2 percent to a seasonally adjusted annual rate of 3.83 million units in […]
The Honolulu Board of REALTORS® released resale real estate statistics figures today for the month of January 2010. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are: January 2010 Residential Resales Statistics for OahuSingle Family Home Resales Number of Sales This Month […]
The residents of the newly built Keola La’i, will have to vacate their homes for a week next month while the entire building is treated for termites. The vast majority of the units in the 44-story building do not have any problem, but the number that do have termites has been growing. Nordic PCL, the […]
With the outlook of improving data points, the Hawaii State Department of Business, Economic Development, and Tourism reports that our economy is getting brighter. Improving visitor arrivals, visitor spending, better personal income and job growth all has greatly improved in the past three months. The Departments improve numbers combined with many businesses including auto dealers, […]
The number of foreclosures in Hawaii declined by 6% in July from July 2009. This breaks the 37 month straight increase in foreclosures. The numbers were concentrated in the early-stage filings, which includes trustee sales and default notices. It is really unclear as to whether the lenders are holding back on these filings or if […]
Genshiro Kawamoto, the Japanese billionaire, is back in town and has decided to increase the list offer price of his Kahala properties. He was seen recently at one of his Kahala Avenue properties fixing up the exterior of one of his properties which has been in disrepair. Since being here he has elected to raise […]
The trend in firming home prices solidified in the second quarter with more metro areas showing increases from a year ago, aided by a surge in home sales driven by the home buyer tax credit, according to the latest survey by the National Association of Realtors®. In the second quarter, 100 out of 155 metropolitan […]
As we past the half way point in 2010, the tourism number continue to show that Hawaii is recovering. The big news is that if the trend continues we will be back above 7 million visitors in 2011. We have not seen this 2007. Many hotels are seeing some recovery but most say that the […]