2010 Honolulu Real Estate Recap
The Honolulu Board of Realtors just released the 2010 Annual Report for the Honolulu housing market, and things are looking sunny.
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The Honolulu Board of Realtors just released the 2010 Annual Report for the Honolulu housing market, and things are looking sunny.
When it comes to submitting a final offer on a property, research and due diligence are key. Here, we share a few trade secrets in the art of negotiation.
Maili Beach Place is the latest affordable-housing development to go up in Waianae.
Here's a breakdown of the most expensive and least expensive Oahu neighborhoods for apartment and single-family home rentals.
Waialae Gardens, a townhouse complex in Waialae Nui Valley, might just be Kahala's best-kept secret.
One of Kahala Avenue's most colorful homes is on the market for just under $1.4 million.
Located across the street from the beach, this North Shore home was purchased in 2005 for $900,000, but is now on the market for $599,000.
Here's a list of helpful online resources for learning more about foreclosures on Oahu.
In any city, you’ll find less-than-desirable rentals, and Honolulu is no exception.
The Ocean Resort Hotel Waikiki, a 451-room property located on the Diamond Head side of Waikiki at the intersection of Paoakalani and Kuhio Avenues, was acquired last week for an undisclosed sum by Chartres Lodging Group, a San Francisco-based hotel investment and advisory firm.
Sixty Parkside, Mililani’s newest gated townhome community, is ideal for those looking to buy new in the low- to mid-$300,000 range.
Ala Moana Tower is a former apartment building that was recently converted into 105 fee-simple condominiums listed for less than $365,000.
The Pensacola Chelsea, located near the intersection of Pensacola and Kinau Streets, is a budget-friendly condominium building with 46 one-bedroom, one-bath units listed for less than $315,000.
Manoa has it all--location, amenities and stately, historic homes. Unfortunately, those perks come with a hefty price tag: Last month, the median sales price of a single-family home in Manoa was $986,000.
It helps to think of open houses as learning experiences, not shopping expeditions, where you’ll zero in on the type of house you want and which neighborhood you want to live in. Here, some additional guidelines for making the most of an open house.
Homes in Mililani are selling at a steady pace. Case in point: This REO property sold in just 10 days.
A lot of factors—home values, location, inventory, etc.—contribute to whether or not a home sells. But staging a house prior to putting it on the market can lead to faster closing times and more money.
This Hart Wood-designed residence is located on an exclusive street of multi-million-dollar homes tucked away on the lower makai slopes of Diamond Head, with views of the Pacific Ocean and, if you look up, tourists snapping pictures from the top of the trail. The current owner, who resides on the Mainland and has recently had the home rented out, also owns the neighboring property, a low-slung Ossipoff design that I wrote about a few weeks ago.
The Historic Hawaii Foundation, the State Historic Preservation Division and Honolulu Magazine compile an annual list of some of our state's most endangered places.
Mililani is a popular market, thanks to the town's built-in amenities and highly rated public schools. And with the median sales price of condominiums hovering around $285,000, Mililani is an affordable option for house hunters.
Short sales can be challenging buys, but bargains can be had if you’re up to the task. This Kapolei Knolls short sale has been on the market for a week and was reduced by $20,000. Similarly sized homes in the community are listed for $654,000 to $739,000, so this house is priced to move.
November is traditionally a pretty quiet month for home resales, so last month’s unimpressive numbers come as little surprise. Overall, the numbers for single-family home resales stayed the course while condo sales fell flat.
According to RealtyTrac, an online marketplace for foreclosure listings, as of October this year, Hawaii had nearly 3,600 REO (real estate owned), or foreclosed, properties. “Any time you hear the word REO, a lender has foreclosed on the property and is putting it on the market for sale,” says Century 21 All Islands realtor and REO specialist Mathew Ngo, who says that the greatest concentration of foreclosures on Oahu is on the island’s leeward side.
The famous-person-stayed-here sales strategy is always tricky because, as any high-school teen could tell you, popularity is a fickle thing. For instance, I highly doubt that “house once rented by actor Charlie Sheen” would be a strong selling point. Whether “President Obama vacationed here” is an enticing enough tagline depends, these days, on where you fall in the red-and-blue divide.
Several luxury condominiums in The Pinnacle Honolulu will be open this weekend, a boon for anyone thinking of buying in the luxe building. The Pinnacle, which was built in 2008, is an in-demand address largely because of its downtown location and unique design. There are 36 floors with no more than two private residences per floor for a maximum of 50 residences. With the exception of the expansive two, two-story penthouses, units range between 1,545 square feet for a half floor to just over 3,000 square feet for an entire floor. Another unique feature is the biometrically keyed elevators that open directly into private foyers in each half-floor residence.
This column has afforded me an all-access pass to some of Oahu’s most rarefied homes, a privilege I thoroughly enjoy and am happy to share with you. And while I’m glad to pass on the backstories of homes across the island, I’m even more pleased when you, the readers, have the chance to see it for yourselves. Which is why all of you with even the slightest interest in local architecture need to reserve a private tour of the Liljestrand House, which is considered to be one of Vladimir Ossipoff’s finest residential designs.
With 700 feet of water frontage on three sides of the property, this Vladimir Ossipoff-designed home’s dominant architectural feature is the ocean itself. Built in 1964, the Paiko Lagoon estate is surrounded by conservation lands, the lagoon as well as the ocean, offering panoramic views from just about every room.
We’ve covered this Hawaii Loa Ridge home, which Sydney Snyder of Ossipoff, Snyder and Rowland designed, before: See senior writer Mike Keany’s 2007 article, “Zen on the Ridge.”
Given architect Vladimir Ossipoff’s influence and popularity, his homes, when they come on the market, are highly coveted and command hefty price tags. For instance, there are about five Vladimir Ossipoff-designed homes currently for sale, most located on the island’s windward side and all listed for more than $3 million.
Kahala’s Kai Nani neighborhood is an intimate enclave of about 30 homes running along the eastern side of Waialae Country Club. Homes here hold their value, due to both the lack of inventory and the big-price-tag-commanding golf course and direct oceanfront locations.
Many of you may recognize this opulent Kahala estate from this magazine’s 25 Most Expensive Homes in Hawaii article, which appeared in the September issue. Built by Honolulu attorney David Schutter in the 1980s, the property, which was ranked as the 17th most expensive home in Hawaii with an assessed value of $19.2 million, is currently owned by Kirin Planning.
I’ve seen old condominium and hotel advertisements that trumpeted Makaha as the “new Waikiki,” and while their claims clearly didn’t pan out, it’s interesting to see Makaha through the back-then lens, when it was virgin territory with beautiful beaches, epic surf and some of the island’s best fishing (most of which still holds true).
Given that we have just five more days until Thanksgiving, it’s fitting that this weekend has a plentiful bounty of open houses.
I’ve had my fair share of maniacal landlords (you know who you are), and, as a result, I’ve acquired a thorough knowledge of Hawaii’s Residential Landlord-Tenant Code. But when I had my first crazy-landlord run-in, I didn’t know where to turn. The following information has saved me from a number of bad situations.
Schrader’s Windward Country Inn, the only hotel on Kaneohe Bay, has sold for $3 million, $900,000 less than the asking price. For 30-plus years, owner Ralph Schrader, who recently passed away, welcomed guests to the intimate-though-aging inn, which is situated at Laenani Point in Kaneohe.
Traditional Japanese homes are fairly common in Hawaii, though with 3,441 square feet of livable space, this authentic Japanese estate in Hawaii Loa Ridge is done on a much grander scale than most.
CNBC.com ran a fun story last week highlighting several houses featured in popular TV shows and movies that have recently sold or are currently on the market. Included on the list is the mansion featured in the Lost Season 3 episode, “Tricia Tanaka is Dead.”
Hale O Manu I Palekaiko, or House of Bird of Paradise, stands out among its Kahala neighbors.
They may be something of an eyesore at the moment, but these three adjoining Matson Point lots in Kaneohe are brimming with history.
The October real estate numbers from the Honolulu Board of Realtors were just released yesterday, and the news is shruggable. Here are a few notable points.
Architectural gems like this don’t often come on the market. In fact, this is the first time since it was built in 1929 that the George D. Oakley house in lower Manoa has been listed for sale. The residence, which was designed by architect Miles H. Gray, an engineer with the U.S. Army Quartermaster Corps., is considered one of the state’s best remaining examples of houses built in the English cottage style, and is listed on both the National and State Registers of Historic Places.
If you’re interested in the preservation of historic homes on Oahu, today’s column is for you. This Wednesday, Nov. 10, the Honolulu City Council’s Budget Committee, chaired by councilmember Nestor Garcia, will hold a public hearing to discuss Bill 55 and Resolution 10-274, both of which will impact residences placed on the Hawaii Register of Historic Places after Jan. 1, 1977.
Many local real estate experts would say that you’d have to be flippin’ crazy to flip a house in this economy, but that’s just what two investors did with this Coconut Grove home.
The Trump International Hotel and Tower Waikiki Beach Walk doesn’t allow open houses, so unless you decide to stay as a hotel guest, you’re not getting in to see the building’s ultra-swanky abodes. Trump’s debut in Waikiki has not been smooth sailing: The condo-hotel, which has 462 units, sold out in record time, but then, as the opening neared, the economy sank deeper into a recession and the buyer cancellations began. Rather than lose the large down payment, many owners chose to close on the properties, only to almost immediately put them back on the market. So, for a while it seemed that the MLS was awash in Trump listings. But things are looking up for Trump. In October, there were 41 units active in MLS, and seven units have sold in the last six months, with an average days-on-market of 54.
As I mentioned in a recent post, I’ll be sharing some vintage HONOLULU Magazine real estate ads from time to time. This Hilton Lagoon Apartments ad, from the August 1966 issue, caught my eye thanks to its highlighter-yellow backdrop and eye-catching black-and-white illustrations, drawings meant to convey the good life in Honolulu.
The Crouching Lion has long been a welcome respite for weary Oahu residents tasked with chauffeuring their in-laws around the island on whirlwind tours of the east side and North Shore. (Sea turtles! Shave ice! The mac nut farm! Oh, my). Having done this jaunt several times, I can honestly say that around Kaaawa, my patience begins to wear a little thin, which is why the Crouching Lion is so fantastic. Perched on a hillside, with abundant outdoor eating areas, ocean views and a gift shop, it’s every tourist’s happy spot and an excellent excuse for the tour guides to relax with mai tais. In fact, I’d become so enamored with the place that I wrote about it in last year’s Best Bars feature.
A fan of the work of architect Vladimir Ossipoff (yes, even the hotly debated IBM Building), I’m experiencing a bit of real estate envy with this house, a Diamond Head stunner that displays many of the details for which Ossipoff has come to be known: whitewashed masonry, exposed concrete, natural finish woods, picture-window walls, large overhanging eaves and lanai that act as extensions of the interior spaces.
I love a good ghost story, and, here on Oahu, there are plenty of tales of spooks and ghosts and things that go bump in the night. And there are definitely haunted-house (and haunted-building) stories galore.
HONOLULU Magazine goes back to 1888, and was called Paradise of the Pacific until 1966, so its back issues act like a time capsule of Hawaii's pre- and post-statehood years. I particularly love the vintage condominium and home advertisements in the 60s and 70s issues. I found one that touted its “asbestos flooring” (fireproof, one of our editors cracked), and another that described Makaha as the “new Waikiki.” The advertisements, cheesy and retro as they may be, offer a snapshot of a different era, evidence of the island’s swift development during those decades.
I first wrote about this house a few years ago for another magazine, and I’m still just as enamored with its idyllic, away-from-it-all location—at the end of a narrow, dirt drive surrounded by the Paiko Lagoon Bird Sanctuary and nearby conservation lands. Back then, I wrote in my notes that the house “doesn’t so much rise up to greet you as poke its head through the bushes. It’s a very subtle design, with a flat roof that echoes the linear line of the ocean and the horizon.” How very poetic of me.
From plantation towns to planned communities, Central O‘ahu has its share of secret spots, a bumper crop of bowling alleys and neighborhood eats.
We celebrated National Take a Hike Day (Nov. 17), with a round up of our top picks for the best hikes on the Island.
Not willing to change her identity to be part of the industry, Mahina Florence is at the height of her career because of her flawless Hawaiian complexion, strong athletic build, and friendly aloha spirit.
These restaurants and cafés hold themselves to a higher eco-standard that make deciding where to eat for ocean-minded people an easy decision.