In the past 2 weeks, 2 units at the Hokua went under contract and another was recorded as sold and were all listed from $1.88 mil to $2.3mil. These three items likely show an uptick in the desire for the higher end condo market. The Hokua At 1288 Ala Moana Blvd is a beautiful, luxury building with unobstructed views over Ala Moana Beach Park out to the Pacific Ocean. The views can also be towards Diamond Head or to the airport. Basically, regardless of the unit that you look at, it will have outstanding views. Because the building is across the street for a public park-like Ala Moana, there is a near certainty that the view will always be unobstructed.
The building is in a wonderful and up and coming neighborhood of Kakaako. There are several new condominiums here as well as a new one ready to be built: The Waihonua. The building is in short walking distance to the beach, many shops, restaurants, and theaters. The amenities are abundant and luxurious including a bark park and special suites that can be utilized for guests.
The units in the building hardly declined in value all through the financial crisis. They were largely snapped up by Asian investors. Some were purchasing here in Hawaii for the first time and others were selling single-family homes in luxurious areas in order to buy into the building. Regardless, nearly all of the sales have been all cash. The numerous all cash transactions occurring at the Hokua as well as the high-end of the real estate market signifies a great influx of wealth and buyers and does a great deal to buoy the Hawaii Luxury market.
To learn more about this building or about the high-end luxury market contact, Malia Meenderman, R, our principal broker.