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Honolulu, HI Real Estate News

By Kimo Stowell, REALTOR Associate® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
  Local Market Update  Ala Moana & Kaka'ako Honolulu, March 2024   Single Family Homes March Year to Date 2024 / 2023 Change% 2024 / 2023 Change% Closed Sales 1 / 0  0%  2 / 0  0%  Median Sales Price $1.1M/ $0   0%  $1M / $0   0% Percent of Original List Price Received 96.5% / 0.0%  0% 94.7% / 0.0%  0% Median Days on Market Until Sale 38 / 0  0% 38 / 0  0% New Listings 1 / 0  0% 2 / 1  100% Pending Sales 0 / 1  -100% 2 / 1  100% Active Inventory 4 / 0   0% ---    Condos March Year to Date 2024 / 2023 Change% 2024 / 2023 Change% Closed Sales 38 / 55  -31%  96 / 124  -23%  Median Sales Price $747,000 / $830,000  -10% $624,250 / $645,000  -3% Percent of Original List Price Received 95.5% / 95.9%  0% 96.2% / 96.6%  0%    Median Days on Market Until Sale 92 / 39  136% 45 / 41  10% New Listin...
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By Kimo Stowell, REALTOR Associate® RS-76763 - Honolulu Hawai'i
(HI Pro Realty LLC RB-21531 )
  Local Market Update  Waikiki Honolulu, March 2024   Single Family Homes March Year to Date 2024 / 2023 Change% 2024 / 2023 Change% Closed Sales No Recorded Sales No Recorded Sales Median Sales Price $0 / $0  0% $0 / $0  0% Percent of Original List Price Received 0 / 0%  0% 0 / 0  0% Median Days on Market Until Sale 0 / 0  0% 0 / 0  0% New Listings 0 / 0  0% 0 / 0  0% Pending Sales 0 / 0  0% 0 / 0  0% Active Inventory 0 / 0  0% ---    Condos March Year to Date 2024 / 2023 Change% 2024 / 2023 Change% Closed Sales 82 / 97  -15% 237 / 251   -6% Median Sales Price $440,000 / $470,000  -6% $435,000 / $403,750  0% Percent of Original List Price Received 97.9% / 97.3%  1%  97.0% / 97.0%  0% Median Days on Market Until Sale 33 / 31  6% 36 / 27  33% New Listings 170  / 150  13% 446  / 379  18% ...
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By David Buck, Realtor-Broker
(Harcourts Island Real Estate)
Aloha! This is David Buck with Harcourts Island Real Estate. Today is another Wednesday and we're going to cover another episode of We Need Inventory. The neighborhood of discussion today is Waialae Golf Course neighborhood. Every year I do a blog on the Sony Open and the homes along the golf course. Traditionally, every year there's several for sale... Read More
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By Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
(Liberty Homes)
In March of 2007 I joined the  ActiveRain Real Estate Network and started blogging for the first time in my life. It has become my most valuable tool for internet marketing as well as a place to get to know other professionals nationwide that I have ever come across.   Back in January of 2008 nine members of ActiveRain were invited to co-author a book on Technology, Social Media and Blogging.   In March I wrote:  Co-Authoring a Book: "Profit From Technology - A Guide for Today's Real Estate Agent" and now I am proudly announcing the release of this book along with the other co-authors of the book. Following are the Chapters and the members who wrote them: Chapter 1 - Technology: Nemesis or Redeemer?                                                        Carol Smith Chapter 2 - Towards 1...
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By Keahi Pelayo
(KU Realty)
May 18th, 2009 categories: Honolulu Real Estate 101, Rants & Riffs The Hawaii State Legislature raised the top income tax rate in Hawaii to 12% last week. CLICK HERE TO READ THE ENTIRE POST.
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By Matt Listro, Your Credit Repair Expert
(National Credit Fixers - Matt Listro)
Expert Credit Repair in Hawaii National Credit Fixers: 330 Roberts Street 4th Floor East Hartford CT 06108 phone: 860-282-6181. National Credit Fixers boasts of 13 years experience repairing low FICO scores. Whether your credit has been damaged by a foreclosure, bankruptcy, slow credit, collections, judgments, repossessions, etc. we can help. We are the experts in credit restoration and credit repair. We have helped numerous residents of Connecticut and are experts in Hawaii credit repair.  The Fair Credit Reporting Act (FCRA) allows a consumer to challenge the information on his or her credit report on the basis of "completeness and accuracy." When a consumer files a dispute, the credit bureaus must contact the source of the credit information (the creditor) and confirm that the inform...
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By Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
(Liberty Homes)
I'm one of those Real Estate Professionals that loves to have a personal connection with my clients. It's just something that occurs naturally because of a job well done as well as having a personal comfortable connection with clients during the course of one, two, three times a repeat client. It's somewhere during that time that I know we've become far more than business associates. We've become and remained friends. It all started when I met Kham and his wife Maria in 2005 when he first came back from Afghanistan in the US Army.  Star Bulletin Newspaper Article:  Bidding Wars Erupt in Seller's Market They bought a condo and then they sold it in 2006 when he got out of the service. Then they bought another nice townhouse last year: It's the Quality of Relationships That THIS Profession...
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By Barbara Abe
(East Oahu Realty)
For a second month in a row, Hawai'i was in the bottom half of states with the worst April foreclosure rates, as growth in local foreclosure filings continued to outpace the national average. There were 684 foreclosure filings in Hawai'i last month, more than triple the 216 in the same month last year, according to real estate research firm RealtyTrac. The number of filings was down from 724 in March, but was the second most since RealtyTrac began collecting and reporting data in January 2005. Among counties, Honolulu had the highest overall number of filings at 290, but the lowest rate per households at one filing per 1,154 households. According to Honolulu Advertiser, "Part of the reason for Hawai'i's fallen position is that housing markets in many other states previously crashed and ...
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By Frank Diaz http://www.hawaiihome.biz
(East Oahu Realty)
Hawaii Kai Neighborhood Board Debates Golf Academy By Nina Wu at nwu@starbulletin.com Nine months after purchasing the lands, a Utah-based investor is envisioning a golf academy above the Hawaii Kai Golf Course. The proposal is likely to spark another debate at this evening's Hawaii Kai Neighborhood Board meeting, where the public has weighed in on previous controversial development plans for the preservation-zoned parcels. Management Solutions of Fountain Green, Utah, which formed Kulia i ka Nu'u Estates, acquired 83 acres in Mauuwai and 98 acres at Queen's Rise from QRM LLC in July. City property tax records show two transactions occurred in July, one at $5.6 million and another at $3.5 million. Project manager Skip McWhorter, who was in Honolulu this week, said Kulia envisions buildi...
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The legislature, in their final days, overrode Gov. Lingle's vetoes and passed four measures that will increase taxes to balance the state budget. Democratic legislators increased state income taxes on the wealthy, the hotel-room tax, the conveyance tax on the sale of luxury and second homes, and a tax on tobacco products, such as chewing tobacco, pipe tobacco and cigars. Lingle vetoed the tax increases, saying they would discourage investment, hurt small-business owners and hamper the visitor industry at a time when it is struggling. On Thursday, the state House and Senate gave final approval to a two-year state budget that contains $800 million in general-fund spending cuts and the elimination of 200 mostly vacant state jobs. According to the Honolulu Advertiser, lawmakers could not h...
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By Keahi Pelayo
(KU Realty)
May 8th, 2009 categories: Honolulu Real Estate 101 This mornings Forbes.com had an article written by Robert Lenzner, a forecaster at Economic Cycle Research Institute.  He is bullish on the stock market and home prices. CLICK HERE TO READ THE POST.
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By Keahi Pelayo
(KU Realty)
May 7th, 2009 categories: Honolulu Real Estate 101 As of May 1, 2009, new rules have been put in place to try to curb pressure on appraisers to arrive at higher values for properties. With all the issues arising from the sub-prime mortgage mess, at first blush, it sounds like a really good idea.  However, like most things done by the Government, this appears to be taking a shotgun to kill a fly.  CNBC reports the following. “But don’t talk to an appraiser or a mortgage broker about it, or you’ll get an earful. Most of them claim it was crammed down the collective throat of Fannie and Freddie by the very powerful Mr. Cuomo, and that it puts good solid appraisers out of business, complicates the loan process for mortgage brokers, and inevitably hurts consumers.” CLICK HERE TO READ THE ENT...
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By Robin McCann
(Robin McCann Realty)
May Day is a Holiday created to honor the Hawaiian custom of making and wearing leis. In 1928, a writer, Gracie Tower Warren, proposed the idea be a holiday on May 1st, in conjunction with May Day.  On May 1, 1928, The first Lei Day was held and Honolulu residents and visitors were encouraged to wear leis. Events were held in Honolulu with music, hula, lei making and contests. In 1929, Lei Day was made an official holiday, and continues today. On Oahu, Lei Day events are featured in Queen Kapiolani Park in Waikiki. Many celebrations are also held at local schools through out the islands. Elementary schools hold celebrations crowning Lei Day kings, queens and princesses of each island, such as occurred in 2008 at Heeia Elementary School. Dances are performed by students and the appointed...
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By Hawaii homes
(Century 21 iProperties Hawaii)
This is based on a true story which happened recently. Seller fixed up his condo very nicely.  Seller puts the property on the market and gets an offer, which is accepted. Buyer decides to conduct his own home inspection.  He has some experience in the construction business and decides the unit is okay. Seller's disclosures are delivered to the buyer.  Seller describes in great detail the improvements made.  Some of the things mentioned are: - Electrical outlets and fixtures replaced by seller, who is not a licensed electrician, no warranties expressed or implied. - Plumbing pipes changed from galvanized to copper by seller, who is not a licensed plumber, no warranties expressed or implied. - Seller removed a shoji door (sliding divider) and added fixed divider wall to the studio condo,...
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May 6th, 2009 categories: Honolulu Real Estate 101 The April 2009 Honolulu Board Of Realtors Monthly Statistical Report (CLICK HERE FOR A COPY) has been analyzed in a negative manner by the major media.  They seem to focus on the on April 2008 to April 2009 drop in median sales price of single family homes from $639,000 to $585,000 (an 8.5% move down).  However, when you look deeper, there are three numbers that tell me things are going to be okay.  Here they are. CLICK HERE TO READ THE ENTIRE POST
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By Frank Diaz http://www.hawaiihome.biz
(East Oahu Realty)
First Time Home Buyers Tax Credit 2008 / 2009 Bringing the Dream of Homeownership Within Reach As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers. Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream. Who Qualifies? First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009. To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase. Which Properties Are Eligible? The 2009 First-Time Home Buyer Tax Credit may be applied to pr...
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By Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
(Liberty Homes)
Only on an early Saturday morning will we roam the coastlines of Oahu in search of subjects to snap a picture of.  Something so beautiful that piques the interest of a memorable event to view for years to come. This past Saturday was one of those times. We stopped at Laniakea Beach on the North Shore of Oahu hoping, wishing and straining our necks to look beyond the trees to the sand below. WooHoooo!  There she was basking in the sun. With cool trade winds blowing and a once in awhile wave that came up on the shore to give her a spritzer she was surely enjoying her ‘private' beach. The Hawaiian Green Sea Turtle is called the "Honu" (ho new) and they come up on shore to rest and relax during the Spring and Summer months.  The Honu is an endangered species and 90% of them contract a viru...
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By Barbara Abe
(East Oahu Realty)
There's been a lot of controversy the last couple of weeks over a dive operator's proposal to begin shark-feeding tours in the waters of Maunalua Bay.  Happily, the Hawaii Kai Neighborhood Board voted this week to adopt a resolution calling for a total statewide ban on shark tours (read my blog about the details on my web site).  As Relocation Specialist for Hawaii Kai, I feel better knowing our waters are safe for all users, and - although there are sharks in Hawaiian waters naturally - at least we aren't encouraging them to come close to shore. But speaking of sharks, that get their share of bad press, I wanted to pass on this extraordinary email.  Who knows if it is true, but the photos are really stunning. Here's the email message: It's happening off the South Australian coast, near...
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By Keahi Pelayo
(KU Realty)
April 29th, 2009 categories: Honolulu Real Estate 101 Traditional wisdom says that the California real estate market is a key indicator for the Hawaii real estate market.  If this is the case, then a recent Wall Street Journal may show a coming shift in the Honolulu housing market. “California’s housing-market slump showed hints of improvement in March, with sales of existing single-family homes increasing 64% CLICK HERE TO READ THE ENTIRE POST
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By Keahi Pelayo
(KU Realty)
April 28th, 2009 categories: Distressed Properties, Honolulu Real Estate 101 After selling real estate for 26 years, 17 years in Honolulu, I have noticed that there are natural cycles in the market. They go something like this.  From the beginning of January to early March, the market picks up.  As tax season approaches the market slows, then beginning in May lots of property sells through the mid-August.  The market then slows as parents and kids get back into the groove of school.  The market can be slow through the end of October  Then there is usually a small bump from November through mid-December.  This surge is generally a result of 2 types of buyers.  The first is a buyer that needs to buy and close by the end of the calendar year.  The second is the person who will be transferr...
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By Hawaii homes
(Century 21 iProperties Hawaii)
I was googling around the internet recently using search terms suitable for properties here in Hawaii.  Then I came across some interesting listings.  Someone in Mississippi decided to name a town after Hawaii's most famous landmark, Diamond Head! Even more interesting, the streets in Diamondhead Mississippi have Hawaiian names as well!  Examples are: Hilo Way; Analii Street; Ahia Court; Kaimuki Court; Mahalo Hui Drive; Kapalama Drive; Ala Moana Street; Kahana Street; Maili Way; Maunalani Place; Molokai Village and Lanai Village.  I guess when Diamondhead Mississippi residents visit Hawaii they have an easier time pronouncing our street names! Check it out on Google Maps. The people who named these streets picked good ones from some of our top neighborhoods In Hawaii: Analii Street is i...
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By Keahi Pelayo
(KU Realty)
April 27th, 2009 categories: Honolulu Real Estate 101 The Internet is shifting our world.  From the founding of our country, newspapers have been the major sources of information, but with a recent Audit Bureau of Circulations report their relevance to news delivery and, therefore, marketing is eroding . CLICK HERE TO READ THE ENTIRE POST
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By Hawaii homes
(Century 21 iProperties Hawaii)
Hewaii's economy is slowing and people are looking for causes.  Unemployment in our state is at 7% at a 30-year high.  TV news stations frequently remind us that construction employment is a significant factor in the rate of job losses. Moana Vista construction was halted in December 2008.  The developer is seeking additional financing to complete the project.  Options include finding a partner with financing to complete the building and selling off other real estate investment. Fred and Annie Chan, owners of KC Development, have the Kaiser Estate in Portlock on the market for $80 million.  The price seems quite high, considering the property is in need of major repairs.  On the other hand, the estate covers more than five acres of land on a prime spot in east Oahu.  If the a sale of th...
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