March 17, 2023

4340 Pahoa Avenue Unit 23C, Honolulu, HI 96816

Living room at Regency at Kahala

"Regency at Kahala"

Property Summary

Rarely available! Enjoy stunning unobstructed and panoramic Diamond Head, ocean, and coastline views from this HIGH FLOOR 2 bdrm/2 bath condo with covered parking at Regency at Kahala. Just below the penthouse, this corner unit features nearly 1,400 sq ft of interior living space, central AC, and a spacious lanai to take in the dramatic views. The Regency at Kahala is Kahala’s premier luxury hi-rise condo with only 4 units per floor. Conveniently located in one of the most sought-after residential neighborhoods, Kahala, and close to parks, beaches, the post office, and Kahala Mall with shopping, dining and entertainment. A must see! One or more photos have been virtually staged (enhanced).Offered at $1,488,000 FS.


Bedrooms: 2
Bathrooms: 2
Parking: 1
Living SqFt: 1610
Lanai SqFt: 224
Year Built: 1969
Inclusions: AC Central, Cable TV, Dishwasher, Disposal, Drapes, Dryer, Microwave Hood, Range/Oven, Refrigerator, Washer
Amenities: BBQ, Exercise Room, Heated Pool, Resident Manager, Security Guard, Storage, Trash Chute

Want to see more homes in the Kahala Area? Visit our Kahala Neighborhood Page!

Need help selling or buying a home? Contact Colin Lee @ 808-352-8587 or ColinL@BetterHawaii.com for a FREE 30 minute consultation.

Additional Property Photos

Living room at Regency at Kahala

Kitchen at Regency at Kahala

Dining area at 	Regency at Kahala

Master bedroom at Regency at Kahala

Master bathroom at Regency at Kahala

Second bedroom at Regency at Kahala

Bathroom at Regency at Kahala

Lanai at Regency at Kahala

Gym at Regency at Kahala

Pool at Regency at Kahala

Lobby at Regency at Kahala

 

If you want to learn more details about this property, and the current real estate market, or are thinking about buying or selling in the future, please call Colin Lee anytime @ 808-352-8587. All calls are 100% confidential.

Click HERE to start viewing homes for sale instantly.

Team Lee Photo

About Colin Lee, Team Lead
Broker-In-Charge, Realtor, CPA* | RB-23147
(808) 352-8587 | ColinL@BetterHawaii.comAwards Banner

Colin is recognized as one of the Top 100 Realtors in the State of Hawaii and Top 50 on the island of Oahu in terms of most home sale transactions. This places him in the Top 1% of all realtors on the island. His real estate Team is also ranked in the Top 2% of all Real Estate Teams in the Nation, earning the Platinum Award from Better Homes & Gardens Real Estate. He has been voted “Best In Real Estate” by Honolulu Magazine 6 years in a row and is also an Aloha Aina Award Nominee for 6 years in a row. As a former Licensed Certified Public Accountant (CPA*), Colin is able to use his past professional financial and accounting experiences to help both Buyers and Sellers with one of their biggest financial transactions of their life.

*Colin is a full-time real estate agent and no longer practices public accounting.

Listing Courtesy of BHGRE Advantage Realty. Listing Agent Myron Kiriu, RB-17242. 

March 10, 2023

1450 Young Street Unit 2402 Honolulu, HI 96814

Aerial view of 1450 Young Street

"1450 Young Street"

Property Summary

New listing! RARELY Available, High Floor 2 Bed 2 Bath Corner Unit with 2 Parking! Features of this move in ready condo includes open views of the city and Diamond Head, updated kitchen, washer/dryer in unit, located on the “cooler” side of the building, ample guest parking & more! 1450 Young St is conveniently located near restaurants, schools, freeway access, Ala Moana Shopping Center & more! A MUST SEE! Offered at $631,000 FS.


Bedrooms: 3
Bathrooms: 3
Parking: 4
Living SqFt: 745
Lanai SqFt: 60
Year Built: 1997
Inclusions: Blinds,  Book Shelves, Convection Oven, Ceiling Fan, Dishwasher, Disposal, Dryer, Fireplace, Microwave, Range Hood, Refrigerator, Washer, Water Heater

Want to see more homes in the Makiki Area? Visit our Makiki Neighborhood Page!

Need help selling or buying a home? Contact Colin Lee @ 808-352-8587 or ColinL@BetterHawaii.com for a FREE 30 minute consultation.

Additional Property Photos

Living Room at 1450 Young St Unit 2402

Living room at 1450 Young St Unit 2402

Kitchen at 1450 Young St #2402

Kitchen at 1450 Young St #2402

Primary bedroom at 1450 Young St #2402

Primary bedroom at 1450 Young St #2402

Primary bathroom at 1450 Young St #2402

Guest bedroom at 1450 Young St #2402

Guest bathroom at 1450 Young St #2402

Aerial view of 1450 Young Street

Aerial view of 1450 Young St #2402

Courtyard of 1450 Young St #2402

 

If you want to learn more details about this property, and the current real estate market, or are thinking about buying or selling in the future, please call Colin Lee anytime @ 808-352-8587. All calls are 100% confidential.

Click HERE to start viewing homes for sale instantly.

Team Lee Photo

About Colin Lee, Team Lead
Broker-In-Charge, Realtor, CPA* | RB-23147
(808) 352-8587 | ColinL@BetterHawaii.comAwards Banner

Colin is recognized as one of the Top 100 Realtors in the State of Hawaii and Top 50 on the island of Oahu in terms of most home sale transactions. This places him in the Top 1% of all realtors on the island. His real estate Team is also ranked in the Top 2% of all Real Estate Teams in the Nation, earning the Platinum Award from Better Homes & Gardens Real Estate. He has been voted “Best In Real Estate” by Honolulu Magazine 6 years in a row and is also an Aloha Aina Award Nominee for 6 years in a row. As a former Licensed Certified Public Accountant (CPA*), Colin is able to use his past professional financial and accounting experiences to help both Buyers and Sellers with one of their biggest financial transactions of their life.

*Colin is a full-time real estate agent and no longer practices public accounting.

Listing Courtesy of BHGRE Advantage Realty. Listing Agent Myron Kiriu, RB-17242. 

March 6, 2023

Oahu Real Estate Market Update February 2023

February 2023 Oahu Real Estate Market Update Graphic

O‘ahu Home Sales Pick Up Month-to-Month, Remain Down Year-Over-Year

Single-family homes are taking nearly four times longer to sell, and condos are taking two times longer to sell compared to 2022.

O‘ahu’s housing market remained sluggish in February, with closed sales of single-family homes and condos down 28.2% and 33.1%, respectively. However, single-family home sales rose 15.3%, and condo sales increased by 18.2% compared to January 2023.

Median sales prices in both markets declined, dipping 12.3% for single-family homes from $1,125,000 to $987,000 compared to 2022. The condo market experienced a modest 3.4% decline from $497,000 to $480,000. Roughly 189 O‘ahu properties sold for under $500,000 in February.

n February 2023, single-family homes nearly quadrupled the median days on market, skyrocketing to 47 days compared to 13 days in February 2022. The median days on market for condos doubled to 28 days compared to 14 days a year ago.

The share of single-family homes sold above the original asking price fell dramatically from a year ago, accounting for just 19% of sales this February, compared to 55% in February 2022. From another perspective, only 32% of single-family home sales received full asking price or more compared to 73% last February. In the condo market, the share of sales closing above the original list price shrank only 15% this February compared to 37% in February 2022. Of the sales this month, 36% received full asking price or more compared to 56% of sales last year.

Though there were 233 new single-family home listings and 463 new condo listings this past month, this was well below the number of listings brought to market in February 2022, down 36.5% for single-family homes and 37.3% for condos. Both markets added active inventory at various price points, though the most significant increase in the single-family home market was in the $999,999 and below price range, with twice as many properties up for sale compared to 2022. For condos, the most significant increase occurred in the $600,000 to $799,999 price range, with 50% more active condos than a year ago.

Most price points for single-family homes experienced fewer sales this February, with the largest drop in sales volume occurring in the $900,000 to $1,099,999 price range, down 47.4% year-over-year. The ‘Ewa Plain region experienced the largest decline in sales volume, falling 40.4% year-over-year, followed by the Metro region, declining 55.2%.

Most price points for condos saw a decline in sales, with the most notable change occurring in the $800,000 to $1,999,999 price range, down 60% year-over-year, and in the $500,000 to $699,999 range, falling 42.7%. The Kailua region was the only area where condo sales were even with last year, with 10 condos sold. All other regions saw fewer sales compared to the same time last year, with the ‘Ewa Plain falling 45.7% and the Metro region decreasing 30.1%.

{source: Honolulu Board of REALTORS®}

Click HERE to view the full market report.

 

Click HERE to start viewing homes for sale instantly.

 

Team Lee Photo

About Colin Lee, Team Lead
Broker-In-Charge, Realtor, CPA* | RB-23147
(808) 352-8587 | ColinL@BetterHawaii.comAwards Banner

Colin is recognized as one of the Top 100 Realtors in the State of Hawaii and Top 50 on the island of Oahu in terms of most home sale transactions. This places him in the Top 1% of all realtors on the island. His real estate Team is also ranked in the Top 2% of all Real Estate Teams in the Nation, earning the Platinum Award from Better Homes & Gardens Real Estate. He has been voted “Best In Real Estate” by Honolulu Magazine 6 years in a row and is also an Aloha Aina Award Nominee for 6 years in a row. As a former Licensed Certified Public Accountant (CPA*), Colin is able to use his past professional financial and accounting experiences to help both Buyers and Sellers with one of their biggest financial transactions of their life.

*Colin is a full-time real estate agent and no longer practices public accounting.

 

Feb. 24, 2023

2130 Okoa St Honolulu, HI 96821

Exterior shot of 2130 Okoa Street

Waialae Iki 5

Property Summary

NEW LISTING in Waialae Iki V! RARELY Available, this Move-In-Ready home has 3 bedrooms, 3 baths and a very spacious Den on over 10,000 sqft of land! Features include brand new window shutters, spacious rooms, large walk in closets, peaceful lanai with some ocean views, potential room to expand and much more! Waialae Iki V is a beautiful gated community with 24 hour security, a rec center and tennis courts. A MUST SEE! Offered at $1,849,000 FS.


Bedrooms: 3
Bathrooms: 3
Parking: 4
Living SqFt: 2,159
Land SqFt: 10,185
Year Built: 2002
Inclusions: Auto Garage Door Opener, Blinds,  Book Shelves, Convection Oven, Ceiling Fan, Dishwasher, Disposal, Dryer, Fireplace, Microwave, Range Hood, Refrigerator, Washer, Water Heater

Want to see more homes in the Waialae Iki Area? Visit our Waialae Iki Neighborhood Page!

Need help selling or buying a home? Contact Colin Lee @ 808-352-8587 or ColinL@BetterHawaii.com for a FREE 30 minute consultation.

Additional Property Photos

Aerial view of 2130 Okoa St

Living Room 2130 Okoa

Kitchen at 2130 Okoa St

Primary Bedroom at 2130 Okoa St

Primary bathroom at 2130 Okoa St

En Suite at 2130 Okoa St

En suite bathroom at 2130 Okoa St

Guest bedroom at 2130 Okoa St

Guest bathroom at 2130 Okoa St

Den area at 2130 Okoa St

Lanai at 2130 Okoa St

Entrance area at 2130 Okoa St

Laundry area at 2130 Okoa St

 

 

 

If you want to learn more details about this property, and the current real estate market, or are thinking about buying or selling in the future, please call Colin Lee anytime @ 808-352-8587. All calls are 100% confidential.

Click HERE to start viewing homes for sale instantly.

Team Lee Photo

About Colin Lee, Team Lead
Broker-In-Charge, Realtor, CPA* | RB-23147
(808) 352-8587 | ColinL@BetterHawaii.comAwards Banner

Colin is recognized as one of the Top 100 Realtors in the State of Hawaii and Top 50 on the island of Oahu in terms of most home sale transactions. This places him in the Top 1% of all realtors on the island. His real estate Team is also ranked in the Top 2% of all Real Estate Teams in the Nation, earning the Platinum Award from Better Homes & Gardens Real Estate. He has been voted “Best In Real Estate” by Honolulu Magazine 6 years in a row and is also an Aloha Aina Award Nominee for 6 years in a row. As a former Licensed Certified Public Accountant (CPA*), Colin is able to use his past professional financial and accounting experiences to help both Buyers and Sellers with one of their biggest financial transactions of their life.

*Colin is a full-time real estate agent and no longer practices public accounting.

Listing Courtesy of BHGRE Advantage Realty. Listing Agent Myron Kiriu, RB-17242. 

Feb. 6, 2023

Oahu Real Estate Market Update January 2023

January 2023 Oahu Real Estate Market Update Graphic

New Year Sees Home Sales Fall by Half, Median Sales Prices Dip Modestly

Single-family home median sales price falls below $1 million

The new year begins with closed sales of O‘ahu properties falling significantly year-over-year, with single family homes dropping 54.0% and condos declining 50.2%. After 17 consecutive months of single-family home prices reaching $1,000,000 or more, January ended with a single-family home median sales price of $970,000, representing a 7.6% decline compared to January 2022. The condo market also saw the median sales price dip 2.9% to $495,000.

At the end of the month, average mortgage rates continued to hover in the low 6% range, which is roughly 2.5 points higher than this time last year. Month-to-month mortgage rates drifted slightly down, and as the holiday season came to a close, pending sales picked up. However, the number of contract signings decreased year-over-year, falling 15.2% for single-family homes and 34.1% for condos.

Properties are spending a median of 24 days on the market, roughly double the time compared to last year when the median for single-family homes was 12 days, and the condo median was 14 days. New listings are also slowing, dropping 16.3% for single-family homes and 21.5% for condos. Despite this, active inventory continues to grow compared to 2022, up 77.2% in the single-family home market and 23.7% in the condo market.

In January, around 37% of single-family homes closed at the full original asking price or more, compared to 73% of sales last January. The same is true for condos, where approximately 39% of condo sales closed at the full original asking price or more, compared to 57% of condo sales in January 2022.

In January, the single-family home market saw property sales in all price points decline, though the $1,500,000 and above range sustained the sharpest decline of 73.0% year-over-year. Meanwhile, condos in the $500,000 to $599,999 range represented the most significant drop in sales, decreasing 63.0%. The $100,000 to $199,999 price tier for condos was the only price range to see an increase in sales, up 26.7%.

Across O‘ahu, no regions experienced positive sales growth for single-family homes, though Kāne‘ohe and Pearl City marked steady sales of 16 and 14 properties, respectively, unchanged from one year ago. Most regions recorded a decline of 50% or more for single-family home sales year-over-year, with the ‘Ewa Plain seeing the most significant decrease of 70.7%.

In the condo market, most sales occurred in the Metro region, though this was still a decrease in overall activity representing a 48.1% decline in sales compared to January 2022. The Central region, stretching from Mililani to Wahiawa, also experienced a substantial 60.4% decline in closed sales.

Collectively, the $700,000 to $999,999 price range in the single-family home market saw the largest increase in active inventory, with 92 more listings than in January 2022. Most regions on O‘ahu experienced more activity inventory, with the ‘Ewa Plain and Leeward regions accounting for the greatest share of those increases, while the North Shore recorded a 9.4% decline.

Condos marked a 23.7% increase in active inventory, though the number of active listings in the $200,000 to $399,999 price range fell 12.7% year-over-year. All other price tiers saw active inventory rise, with the $600,000 to $799,999 range increasing 71.1% and the $1,000,000 to $1,999,999 range up 56.6%.

{source: Honolulu Board of REALTORS®}

Click HERE to view the full market report.

 

Click HERE to start viewing homes for sale instantly.

 

Team Lee Photo

About Colin Lee, Team Lead
Broker-In-Charge, Realtor, CPA* | RB-23147
(808) 352-8587 | ColinL@BetterHawaii.comAwards Banner

Colin is recognized as one of the Top 100 Realtors in the State of Hawaii and Top 50 on the island of Oahu in terms of most home sale transactions. This places him in the Top 1% of all realtors on the island. His real estate Team is also ranked in the Top 2% of all Real Estate Teams in the Nation, earning the Platinum Award from Better Homes & Gardens Real Estate. He has been voted “Best In Real Estate” by Honolulu Magazine 6 years in a row and is also an Aloha Aina Award Nominee for 6 years in a row. As a former Licensed Certified Public Accountant (CPA*), Colin is able to use his past professional financial and accounting experiences to help both Buyers and Sellers with one of their biggest financial transactions of their life.

*Colin is a full-time real estate agent and no longer practices public accounting.

 

Jan. 27, 2023

92-1220 Palahia St #DD202, Kapolei, HI

Living Room at 92-1220 Palahia St #DD202, Kapolei, Hawaii

Westview at Makakilo

Property Summary

NEW LISTING! Spacious 2 Bed 2 Bath Unit with 2 Parking located close to the front of your unit! Features of this top floor townhome includes high ceilings, beautiful views, spacious lanai, washer/dryer in unit, pet friendly & more! The breezy townhomes of Westview at Makakilo is located on the less busy side of Makakilo with all the shops of Kapolei, freeway access and restaurants just down the hill. A MUST SEE!
Offered at $509,000! 


Bedrooms: 2
Bathrooms: 2
Parking: 2
Living SqFt: 750
Lanai SqFt: 70
Year Built: 1994
Inclusions: AC Window Unit, Ceiling Fan, Disposal, Range Hood, Range/Oven, Refrigerator, Water Heater

Want to see more homes in the Kapolei Area? Visit our Kapolei Neighborhood Page!

Need help selling or buying a home? Contact Colin Lee @ 808-352-8587 or ColinL@BetterHawaii.com for a FREE 30 minute consultation.

Additional Property Photos

 

Living Room at 92-1220 Palahia St #DD202, Kapolei, Hawaii

Living Room at 92-1220 Palahia St #DD202, Kapolei, Hawaii

Kitchen at 92-1220 Palahia St #DD202, Kapolei, Hawaii

Kitchen at 92-1220 Palahia St #DD202, Kapolei, Hawaii

Masterbed at 92-1220 Palahia St #DD202, Kapolei, Hawaii

Master bath at 92-1220 Palahia St #DD202, Kapolei, Hawaii

Bedroom at 92-1220 Palahia St #DD202, Kapolei, Hawaii

Bathroom at 92-1220 Palahia St #DD202, Kapolei, Hawaii

Lanai at 92-1220 Palahia St #DD202, Kapolei, Hawaii

Lanai at 92-1220 Palahia St #DD202, Kapolei, Hawaii

Exterior Building View at 92-1220 Palahia St #DD202, Kapolei, Hawaii

Parking at 92-1220 Palahia St #DD202, Kapolei, Hawaii

Parking at 92-1220 Palahia St #DD202, Kapolei, Hawaii

 

If you want to learn more details about this property, the current real estate market, or are thinking about buying or selling in the future, please call Colin Lee anytime @ 808-352-8587. All calls are 100% confidential.

Click HERE to start viewing homes for sale instantly.

Team Lee Photo

About Colin Lee, Team Lead
Broker-In-Charge, Realtor, CPA* | RB-23147
(808) 352-8587 | ColinL@BetterHawaii.comAwards Banner

Colin is recognized as one of the Top 100 Realtors in the State of Hawaii and Top 50 on the island of Oahu in terms of most home sale transactions. This places him in the Top 1% of all realtors on the island. His real estate Team is also ranked in the Top 2% of all Real Estate Teams in the Nation, earning the Platinum Award from Better Homes & Gardens Real Estate. He has been voted “Best In Real Estate” by Honolulu Magazine 6 years in a row and is also an Aloha Aina Award Nominee for 6 years in a row. As a former Licensed Certified Public Accountant (CPA*), Colin is able to use his past professional financial and accounting experiences to help both Buyers and Sellers with one of their biggest financial transactions of their life.

*Colin is a full-time real estate agent and no longer practices public accounting.

Jan. 13, 2023

725 Kapiolani Blvd #3302, Honolulu 96813

Building View at 725 Kapiolani Blvd #3302

Kakaako

Property Summary

Enjoy panoramic ocean, city, and Diamond Head views from this well-maintained 2 bdrm/2.5 bath unit at Imperial Plaza. This high floor unit features an open floor plan, HIGH ceilings, and stainless-steel appliances. Step out on the lanai and soak in the breathtaking unobstructed views. Imperial Plaza is an amenity loaded building perfect for entertaining friends, families and guests. Just minutes from restaurants, entertainment, shopping, beaches, and more! Don’t miss this opportunity! Offered at $725,000 FS.


Bedrooms: 2
Bathrooms: 2.5
Parking: 2
Living SqFt: 1,086
Lanai SqFt: 394
Total SqFt: 1,189
Year Built: 1991
Inclusions: AC Central, Auto Garage Door Opener, Cable TV, Ceiling Fan, Convection Oven, Dishwasher, Dryer, Microwave Hood, Range/Oven, Refrigerator, Washer, Wine Refrigerator
Amenities: BBQ, Club House, Condo Association Pool, Patio/Deck, Recreation Area, Recreation Room, Resident Manager, Sauna, Security Guard, Storage, Trash Chute, Whirlpool

Want to see more homes in the Waialae Iki Area? Visit our Kakaako Neighborhood Page!

Need help selling or buying a home? Contact Colin Lee @ 808-352-8587 or ColinL@BetterHawaii.com for a FREE 30 minute consultation.

Additional Property Photos

Living room at 725 Kapiolani Blvd #3302

Kitchen at 725 Kapiolani Blvd #3302

Kitchen at 725 Kapiolani Blvd #3302

Master bedroom at 725 Kapiolani Blvd #3302

Master bathroom at 725 Kapiolani Blvd #3302

Second bedroom at 725 Kapiolani Blvd #3302

Second bathroom at 725 Kapiolani Blvd #3302

Half bathroom at 725 Kapiolani Blvd #3302

Lanai  725 Kapiolani Blvd #3302

Lobby at 725 Kapiolani Blvd #3302

Pool at 725 Kapiolani Blvd #3302

BBQ Area at 725 Kapiolani Blvd #3302

Recreation Deck Sitting Area at 725 Kapiolani Blvd #3302

View at 725 Kapiolani Blvd #3302

If you want to learn more details about this property, and the current real estate market, or are thinking about buying or selling in the future, please call Colin Lee anytime @ 808-352-8587. All calls are 100% confidential.

Click HERE to start viewing homes for sale instantly.

Team Lee Photo

About Colin Lee, Team Lead
Broker-In-Charge, Realtor, CPA* | RB-23147
(808) 352-8587 | ColinL@BetterHawaii.comAwards Banner

Colin is recognized as one of the Top 100 Realtors in the State of Hawaii and Top 50 on the island of Oahu in terms of most home sale transactions. This places him in the Top 1% of all realtors on the island. His real estate Team is also ranked in the Top 2% of all Real Estate Teams in the Nation, earning the Platinum Award from Better Homes & Gardens Real Estate. He has been voted “Best In Real Estate” by Honolulu Magazine 6 years in a row and is also an Aloha Aina Award Nominee for 6 years in a row. As a former Licensed Certified Public Accountant (CPA*), Colin is able to use his past professional financial and accounting experiences to help both Buyers and Sellers with one of their biggest financial transactions of their life.

*Colin is a full-time real estate agent and no longer practices public accounting.

Listing Courtesy of BHGRE Advantage Realty. Listing Agent Myron Kiriu, RB-17242. 

Jan. 6, 2023

Oahu Real Estate Market Update December 2022

December 2022 Oahu Real Estate Market Update Graphic

O‘ahu Home Sales Cool in 2022 Amid Rising Mortgage Rates

Single-family home and condo sales volume saw double-digit declines despite a strong start to the year

December 2022

Year-over-year sales for single-family homes plummeted 46.6%, while condo sales were down 39.3%. The median sales price for a single-family home dipped slightly to $1,049,500, while the median condo sales price rose to $502,500.

In the single-family home market, the $800,000 to $999,999 range saw a whopping 225% increase, with 143 listings available at the end of the year compared to just 44 listings in December 2021. In the condo market, active inventory most significantly increased primarily in the mid to upper price ranges. Year-over-year, active inventory in the $400,000 to $1,999,999 price range rose by 50%.

2022 Year-End Stats

In 2022, O‘ahu’s real estate market was marked by transition. The year began similarly to 2021 with intense competition among buyers, with mortgage rates still hovering near historic lows and ended with headwinds when these rates rapidly and sharply rose. Key highlights included:

● In the second quarter of 2022, 63% of single-family homes and 44% of condos closed above the original asking price.
● In May, the single-family home market set a record median price of $1,153,500; in June, the condo market hit a record median of $534,000.
● Mortgage rates continued to rise through the year, with average rates reaching the 7% range in late October and ending 2022 in the mid-6% range.
● In the fourth quarter, the percentage of properties sold above the original asking price had dropped to 29% of single-family home sales and 25% of condo sales.

The year ended with 3,474 single-family home sales, a 23.2% year-over-year decline. The year-end median price climbed to $1,105,000, an 11.6% increase compared to the 2021 annual median price of $990,000.

In 2022, condo sales also fell, ending the year with 6,353 closed sales and down by 11.8%. Year-end sales were still well above pre-pandemic sales volume dating back to 2007. The condo market ended the year with an annual median sales price of $510,000, up 7.4% from a year ago.

Closed sales by price range were mixed. Single-family home sales in the $1,300,000 to $1,599,999 price range increased by 11%, while the most significant decline occurred in the $600,000 to $899,999 range, where sales were down by 47% compared to 2021. At year-end, the condo market showed a 19% dip in sales at the $699,999 and below range. However, condos sold in the $700,000 and up range jumped by 15% compared to the prior year.

Seller and buyer activity waned over the year, with the year-end new listings down 13.5% for single family homes and 8.7% for condos. Still, properties moved quickly, with a year-end median days on the market of 12 days for both markets.

{source: Honolulu Board of REALTORS®}

Click HERE to view the full market report.

 

Click HERE to start viewing homes for sale instantly.

 

Team Lee Photo

About Colin Lee, Team Lead
Broker-In-Charge, Realtor, CPA* | RB-23147
(808) 352-8587 | ColinL@BetterHawaii.comAwards Banner

Colin is recognized as one of the Top 100 Realtors in the State of Hawaii and Top 50 on the island of Oahu in terms of most home sale transactions. This places him in the Top 1% of all realtors on the island. His real estate Team is also ranked in the Top 2% of all Real Estate Teams in the Nation, earning the Platinum Award from Better Homes & Gardens Real Estate. He has been voted “Best In Real Estate” by Honolulu Magazine 6 years in a row and is also an Aloha Aina Award Nominee for 6 years in a row. As a former Licensed Certified Public Accountant (CPA*), Colin is able to use his past professional financial and accounting experiences to help both Buyers and Sellers with one of their biggest financial transactions of their life.

*Colin is a full-time real estate agent and no longer practices public accounting.

 

Dec. 7, 2022

Oahu Real Estate Market Update November 2022

Oahu Real Estate Market Update Graphic November 2022

Price Reductions Increase Amid Sluggish O‘ahu Home Sales

Median sales price for condos drops 4% year-over-year to $480,000

O‘ahu’s single-family home and condo markets experienced a significant year-over-year decline in sales, falling 48.2% and 43.4%, respectively. The median sales price for a single-family home rose 9.5% to $1,149,500, while the median sales price for a condo dipped 4.0% to $480,000 compared to November 2021..

The number of single-family homes and condos sold over the original asking price dropped significantly, falling 73% and 68%, respectively. More active listings underwent price adjustments in November 2022, with approximately 46% of single-family home active listings and 36% of active condo listings experiencing a price reduction at some point during their time on the market.

Active inventory continued to build across Oʻahu, with single-family home supply more than doubling in the Central Oʻahu, the Ewa Plain, Leeward, Pearl City, and Waipahu regions compared to a year ago. The condo supply increased in all regions except Diamond Head and Pearl City.

“We’re seeing more sellers adjusting the price of their listings to remain competitive on the market in the face of the gradual increase in new inventory and properties spending more days on the market,” says Chad Takesue, president of the Honolulu Board of REALTORS®. “Though buyers are dealing with higher financing costs than a year ago, contracts are closing daily, albeit at a slower pace and volume than in 2021.”

Closed sales in both markets declined across most price points, with single-family homes in the $700,000 to $1,099,999 price range accounting for the most significant decrease, down 55% year-over-year. Condos within the $400,000 to $699,999 price range dropped by 50% compared to a year ago, although properties in the $2 million and above price range doubled. Both markets in the Ewa Plain (down 64% for single-family homes and 65% for condos) and Metro regions (down 54% for single-family homes and 43% for condos) accounted for the most significant decline in closed sales. Meanwhile, around 180 property sales closed under $500,000 in November 2022.

“It’s likely that first-time homebuyers purchased many of these properties under $500,000. We encourage potential buyers to remember that homeownership is possible in Hawai‘i when you prepare, plan accordingly and work with a professional REALTOR®,” Takesue adds.

Considerable pockets of single-family home inventory were available at all price points, with properties in the $600,000 to $999,999 range reaching a 175% boost year-over-year. Condo supply fluctuated across price margins, although properties in the $400,000 to $1,999,999 range saw a 45% increase, and properties priced at $399,999 and below were down by 11%. Active condo listings priced above $2 million decreased by 17%.

{source: Honolulu Board of REALTORS®}

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Team Lee Photo

About Colin Lee, Team Lead
Broker-In-Charge, Realtor, CPA* | RB-23147
(808) 352-8587 | ColinL@BetterHawaii.comAwards Banner

Colin is recognized as one of the Top 100 Realtors in the State of Hawaii and Top 50 on the island of Oahu in terms of most home sale transactions. This places him in the Top 1% of all realtors on the island. His real estate Team is also ranked in the Top 2% of all Real Estate Teams in the Nation, earning the Platinum Award from Better Homes & Gardens Real Estate. He has been voted “Best In Real Estate” by Honolulu Magazine 6 years in a row and is also an Aloha Aina Award Nominee for 6 years in a row. As a former Licensed Certified Public Accountant (CPA*), Colin is able to use his past professional financial and accounting experiences to help both Buyers and Sellers with one of their biggest financial transactions of their life.

*Colin is a full-time real estate agent and no longer practices public accounting.

 

Nov. 28, 2022

91-3633 Kauluakoko Street Unit #711

Living Room at 91-3633 Kauluakoko Street Unit #711

Kohina at Hoopili in Ewa Beach

Back on the Market at a New & Improved Price! 

Property Summary

NEW LISTING! Well maintained & relatively new 2 bed 2.5 bath townhome with an enclosed garage and driveway parking! Built in 2020, this spacious & pet friendly unit features over 1,100 sqft of living space, new Split ACs in each room, open kitchen concept with stainless steel appliances, quartz countertops, vinyl plank flooring, side by side washer/dryer in the unit, spacious outdoor lanai & more! Kohina at Hoopili is a newer community conveniently located near the future rail station, Ka Makana Ali’I Mall, schools, parks, freeway access & more! A MUST SEE!
Originally offered at $749,000. Priced at $699,000! 


Bedrooms: 2
Bathrooms: 2.5
Parking: 2
Living SqFt: 1143
Lanai SqFt: 1238
Year Built: 2020
Inclusions: Club House, Community Association Pool, Dog Park, Playground
Amenities: BBQ, Basketball, Club House, Dog Park, Hot Tub, Playground, Pool, Putting Green, Sauna, Tennis Court, Trash Chute

Want to see more homes in the Ewa Beach Area? Visit our Ewa Beach Neighborhood Page!

Need help selling or buying a home? Contact Colin Lee @ 808-352-8587 or ColinL@BetterHawaii.com for a FREE 30 minute consultation.

Additional Property Photos

Living Room at 91-3633 Kauluakoko Street Unit #711

Living Room at 91-3633 Kauluakoko Street Unit #711

Living Room at 91-3633 Kauluakoko Street Unit #711

Kitchen at 91-3633 Kauluakoko Street Unit #711

Bedroom 91-3633 Kauluakoko St #711

Guest Full Bathroom Living Room at 91-3633 Kauluakoko Street Unit #711

Master bedroom at 91-3633 Kauluakoko Street Unit #711

Half Bath Living Room at 91-3633 Kauluakoko Street Unit #711

Lanai at 91-3633 Kauluakoko Street Unit #711

Front of 91-3633 Kauluakoko Street Unit #711

If you want to learn more details about this property, the current real estate market, or are thinking about buying or selling in the future, please call Colin Lee anytime @ 808-352-8587. All calls are 100% confidential.

Click HERE to start viewing homes for sale instantly.

Team Lee Photo

About Colin Lee, Team Lead
Broker-In-Charge, Realtor, CPA* | RB-23147
(808) 352-8587 | ColinL@BetterHawaii.comAwards Banner

Colin is recognized as one of the Top 100 Realtors in the State of Hawaii and Top 50 on the island of Oahu in terms of most home sale transactions. This places him in the Top 1% of all realtors on the island. His real estate Team is also ranked in the Top 2% of all Real Estate Teams in the Nation, earning the Platinum Award from Better Homes & Gardens Real Estate. He has been voted “Best In Real Estate” by Honolulu Magazine 6 years in a row and is also an Aloha Aina Award Nominee for 6 years in a row. As a former Licensed Certified Public Accountant (CPA*), Colin is able to use his past professional financial and accounting experiences to help both Buyers and Sellers with one of their biggest financial transactions of their life.

*Colin is a full-time real estate agent and no longer practices public accounting.