As an update to the sales at the Hokua Condominium. The sales are really ramping up in the building. There have been fours sales since the beginning of August ranging in price from $1.4 million to $2.4 million. Three of these had been sitting on the market in excess of 5 months and now they have sold. Two were for cash, one buyer was able to secure conventional financing and the forth purchased using owner financing. Currently, there are three other units under contract.
Buyers, especially from Asia, are beginning to snap up high-end property in Honolulu again. So, I am sure the trend will continue.
Earlier I posted a statistical analysis of the Hokua going back to 2007.