Oahu luxury home sales soar by 54% in April,

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The number of luxury homes and condominiums that sold for at least $1 million on Oahu rose by 54 percent last month compared to the same time last year, according to a monthly analysis.

In all, 83 luxury homes, defined as those that sold for $1 million or more, changed hands in April — a jump from 54 in April 2014.

The median sales price for those luxury properties dropped to $1.31 million last month compared to $1.4 million in 2014.

“Year-to-date sales of single-family homes over $1 million indicate a strong performance compared to the same period a year ago,”. “Specifically, sales in the $1-million to $2-million price range are up 40 percent while the $2-million to $6-million price range are down by 45 percent.”

In all, a total of 72 homes were sold in the $1 million to $2 million price range. Nine more, meanwhile, were sold in the $2 million to $4 million price range. Only two Oahu properties were sold last month for at least $4 million.

Kakaako led the island in luxury property sales last month with eight closed sales, followed by Diamond Head with five closed sales, and Lanikai and Waikiki with four closed sales for each neighborhood.

“Based on the current rate of sale, we only have four months of inventory remaining for single-family homes in this segment — a balanced market is six months of inventory,” Nakagawa said. “Meanwhile, the higher price ranges in the luxury market have not been selling as briskly. The units in escrow (or forward sales) for single-family homes show that this trend will keep going.”

More luxury properties in $1 to $2 million price range, she explained, would have to be put up for sale to balance out the market and keep up with the “very, very high demand for these properties.”

Though she has seen more of those homes come on the market over the past few months, the number of those selling for at least $4 million has been building over time as fewer sales for those properties take place, Nakagawa said.

The most expensive home sale recording by Multiple Listing Service data last month was a six-bedroom, four-bath, 3,055-square-foot home in Kailua for $10.5 million.

Luxury_Oahu_Estates_$2M -_$3M

Luxury_Oahu_Estates_$3M -_$4M

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Luxury_Oahu_Estates_$6M -_$8M

Luxury_Oahu_Estates_$8M – 10M

Luxury_Oahu_Honolulu_Condos

Hawaii’s 14.6% home price increase makes it fourth-highest in U.S.

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Hawaii’s 14.6% home price increase makes it fourth-highest in U.S.
Staff Pacific Business News | Apr 3, 2013, 12:59pm HST

Hawaii had the fourth-highest home price appreciation in the nation in February, with prices increasing by nearly 15 percent year over year, according to a report by CoreLogic.

Nevada had the highest year-over-year home price appreciation for February, when distressed sales were included, with a 19.3 percent increase, followed by Arizona at 18.6 percent, California at 15.3 percent and Hawaii at 14.6 percent, according to the report by Irvine, Calif.-based CoreLogic (NYSE: CLGX).

Excluding distressed sales, Hawaii moved up to third-highest price appreciation at 15.5 percent, following Nevada and Arizona.

Nationally, home prices increased by 10 percent compared to February 2012, the largest year-over-year increase since March 2006, CoreLogic said. March prices are expected to rise by 10.2 percent year over year, the report said.

August 2012 Residential Resales Statistics – The median price paid for island properties in August was $609,000 for single-family homes and $320,000 for condominiums

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During August, sales of 293 single-family homes and 409 condominiums increased 5 percent and 21 percent, respectively, from August 2011. The median price paid for island properties in August was $609,000 for single-family homes and $320,000 for condominiums, increases of 9.2 percent and 6.7 percent, respectively, compared to the same month last year. According to the Days on Market indicator, sales for both single-family homes and condominiums were accepted at a faster pace last month compared to a year ago, with single-family properties listing for 25 days and condominiums listing for just 28 days.

“This has been one of the best summers we’ve seen in many years, with closed and pending sales of both single-family homes and condominiums rising throughout the summer to highs in August,” said Joe Paikai, president of the Honolulu Board of REALTORS®. “This is a good indicator that the market is finally recovering.”

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The public is encouraged to visit the Board’s Internet web site at www.HiCentral.com to see what’s happening in the housing market. The public has the ability to search through Oahu single-family home and condominium listings, available for sale and for rent, and to see a comprehensive guide of homes that will be open to visit this Sunday. All searches can be done by geographic location, price range or both.

HiCentral.com provides useful information about buying and selling real estate in Hawaii.
Established in 1922, the Honolulu Board of REALTORS® is one of the largest of 1,500 boards of REALTORS® in the nation and, with over 5,600 members, one of the largest trade organizations on Oahu. Membership is available to licensed real estate brokers, agents, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry who pledge to adhere to a strict Code of Ethics and Standards of Practice. For more information, call (808) 732-3000 or visit www.HiCentral.com.
(This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after closing of escrow. The time delay between the signing of a sales contract and the closing of escrow is usually between one and three months.)

Honolulu Oahu July Listing Update – Newsletter

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Issue #07
July 2012
Aloha Mark Howard, 

High-Rise Highlight – ISLAND COLONY
From the moment you enter the soothing rock wall lobby of this Waikiki Condo / hotel, you’ll feel your worries melt away.
Island Colony 445 Seadside Ave 96815 Front

    Key features of this Honolulu Condo/ hotel include island inspired décor, access to spas, and vacation conveniences such as kitchenette rooms, 24-hour guest service agents and an activity desk to plan your Oahu vacation activities.
   All that combined with the central location steps from Waikiki Beach and top notch island shopping, dining and entertainment, make Island Colony Waikiki one of the best deals on Oahu and in Waikiki.

As of 7/19/2012 available units are priced between

$145,000 and $340,000
– 17 Units have Sold in the past six month –

Waikiki Properties Under $200k – Fee Simple & LH 
2425 Kuhio Ave #708 – BAMBOO WAIKIKI

Price: $189,000 FS   |   1 Bathroom, 340 Sq.Ft.

Bamboo Waikiki CURRENTLY IN HOTEL POOL WITH RENTAL OF $1300 PER MONTH. A CLASSY BOUTIQUE HOTEL IN THE HEART OF WAIKIKI, A FAVORITE AMONG LOCALS AND VISITORS. CONSISTENTLY VOTED THE TOP TEN BEST BUSINESS HOTEL IN TRIP ADVISOR. TASTEFULLY RENOVATED WITH HIGH-END APPLIANCES AND FURNISHINGS. EXCELLENT MANAGEMENT, FRIENDLY 24-HOUR STAFF, CONCIERGE. CENTRALLY LOCATED NEAR ATTRACTIONS. 

If you are interested in those active listings, our company may represent you as the buyer’s agent. If the active listing you are interested in is our company’s active listing, you may speak to one of our agents regarding your options for representation. Listing courtesy of Primary Properties, Inc 

June 2012 Residential Resale Statistics
 

 

During June, sales of 279 single-family homes and 342 condominiums were reported through the Board’s MLS; single-family home sales experienced a 12.5 percent increase while condominium sales decreased by 3.4 percent from June 2011. The median price paid for island properties in June was $620,000 for single-family homes and $297,000 for condominiums, an increase of 10.2 percent and a decrease of 1.3 percent respectively, compared to the same month last year. …»

JUST LISTED – Aqua Palms at Waikiki

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30% Buyer Commission Rebate Program

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AHR Logo_Rev copy Everyone here at Hawaiian Americana Realty, Inc is proud to formally announce that the 30% Buyer Commission Rebate Program will continue throughout 2011
 
If you haven't heard about the Hawaiian Americana Realty, Inc 30% Buyer Commission Rebate Program the details are as follow . . .

What is the Hawaiian Americana Realty, Inc 30% Buyer Commission Rebate?
Hawaiian Americana Realty, Inc is leading the way in technology and resourceful operations to reduce the cost of buying or selling a home. When purchasing a home through Hawaiian Americana Realty, Inc we will rebate 30% of our buyer agent commission back to you. Despite the great savings Hawaiian Americana Realty, Inc is NOT a "discount real estate brokerage" and provides you our comprehensive Buyer Full Service to ensure your satisfaction.

How does the 30% Buyer Commission Rebate work?
For example if you purchase a home for $4 50,000 through a traditional brokerage on a 6% listing. Your broker would end up keeping 3% of the purchase price or $13,500.

If however you purchased the same $450,000 home through Hawaiian Americana Realty, Inc using our 30% Buyer Commission Rebate, rather than keeping the entire commission Hawaiian Americana Realty, Inc would rebate 30% of our brokerage commission or $4,050 back to you! Your actual rebate will of course vary depending upon the actual purchase price and the actual buyer agent commission but could even be larger on a more expensive property.

Do I get the same service as from a traditional brokerage?
YES! You receive the same professional service to assist you in selecting and purchasing your home that you would receive from a traditional brokerage. Hawaiian Americana Realty, Inc may offer you a great rebate but we do NOT cut corners and are NOT a “discount real estate brokerage”. Hawaiian Americana Realty, Inc believes in fair pricing and are simply passing on the cost savings from our technology and efficient operation back to you.

What can I do with my rebate?
You can use your real estate rebate to help pay your closing costs or buy down your interest rate to save even more money. With your lender's approval you can also take it as cash and save it, fix up your new home, purchase new furniture, and more!

(This rebate program supersedes any other offer, discount or credit previously offered by Hawaiian Americana Realty, Inc and cannot be combined with any other offer, discount or credit previously offered by Hawaiian Americana Realty, Inc)

Now is the time to act if you have been considering buying real estate in Honolulu, Waikiki or anywhere throughout Oahu and Maui !

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Hawaiian Americana Realty, Inc | Mark Howard – Owner/ Broker/Founder – RB 20384
1888 Kalakaua Ave., C312
Honolulu, HI 96815
Phone 808-791-2923