88 Piikoi St #2308, Honolulu, HI 96814

"Hawaiki Tower"

Property Summary

NEW LISTING!! RARE FIND!!! Enjoy BREATHTAKING ocean, coastline, and city views from this much sought after high floor “08” stack with an additional picture window facing directly towards the ocean to accentuate the already stunning views. This beautifully maintained 2 bedroom 2 bath corner unit with 2 covered parking at Hawaiki Tower features 1,048sq. ft. of interior living space, fresh interior paint, new carpet, and an open kitchen with Sub-Zero and Gaggenau appliances. Amenities include a swimming pool, BBQ area, tennis courts, and lots of guest parking! Ideally located just minutes from shopping at Ala Moana Shopping Center and Ward Village, Ala Moana beach park, restaurants, and all the entertainment/shopping options of Waikiki. A must see! Offered at $1,298,000 FS.

Status: ACTIVE
Bedrooms: 2
Bathrooms: 2
Parking: Covered – 2 stalls, Garage, Guest, Secured Entry
Living SqFt: 1,048
Year Built: 1999
Inclusions: AC Central, Blinds, Cable TV, Convection Oven, Disposal, Dryer, Microwave, Other, Range Hood, Refrigerator, Washer
Amenities: BBQ, Pool, Patio/Deck, Security Guard, Storage, Tennis Court, Trash Chute

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

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.

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

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

Ikena Homes - NEW Single Family Home Community at Hoopili Second Lottery

D.R. Horton's BRAND NEW community of single family homes is called Ikena at Hoopili.

Ikena home prices will start from high $900,000s (FS). This community will offer five floor plan home layouts featuring three and four bedroom homes with 2-3.5 bathrooms and living areas ranging from 1,057 sq. ft. to 1.365 sq. ft. The plan layouts are either one or two-story homes with a 2-car garage. Each home has designer selected flooring packages, whole house split air conditioning and stainless steel appliances. Every residence comes with an expanded, Home Is Connected® - Smart Home system.*

Ikena will be minutes away from the SoHo community center and pool, a dog park for your furry family to enjoy, and Ka Makana Alii, Kapolei’s biggest shopping center, making your home and time spent, convenient.

Ikena at Hoopili's Second Sales Release!

Applications are now being accepted for Ikena at Hoopili lottery. For this Ikena at Hoopili, there are 9 homes available from all five floor plans. This lottery will feature homes with an estimated completion by Spring 2022. The prices for this lottery will range from high $900s - $1.1M. 

We can help you register for this lottery and guide you through the pre-qualification and application steps. If you are interested in Ikena at Ho'opili or other homes, contact us at (808) 352-8587 for more information.

LOTTERY APPLICATIONS DUE: Thursday, January 13, 2022 at 5pm
LOTTERY HELD ON: Sunday, January 15, 2022 at 10am

Ikena at Hoopili Model Types 

For Ikena floorplans, Visit Ikena at Hoopili

• "ELUA" Model: 1 story, 3 bedrooms and 2 baths at approximately 1,279 interior square feet. Prices start around $930,000s.
  
  
• "EHA" Model: 1 story, 3 bedrooms and 2 baths at approximately 1,579 interior square feet. Prices start around $970,000s.
  
  
• "ELIMA" Model: 2 story, 4 bedrooms and 2.5 baths at approximately 1,780 interior square feet. Prices start around $1M.
  
  
• "EONO" Model: 2 story, 4 bedrooms and 2.5 baths at approximately 1,830 interior square feet.  Prices start around $1M.
  
  
• "EONO ADU" Model: 2 story, 4 bedrooms and 3.5 baths at approximately 2,017 interior square feet. Prices start around $1.1M.

Do you have a buyer's agent?

If you are interested in Ikena at Hoopili, let us know and we can help you with the process and get pre-qualified. It is always a good idea to have a Buyers agent. We are independent real estate agents of Better Homes and Gardens and we do not represent Hoopili projects, we represent YOU, the buyer. In doing so, we have your best interest first, help make the process much simpler and less stressful.

About Colin Lee
Broker-in-Charge, Realtor, CPA* | RB-23147
(808) 352-8587 | ColinL@BetterHawaii.com

Colin is recognized as one of the Top 1% of Realtors on Oahu and Top 100 Realtors in the State of Hawaii and Top 50 on the island of Oahu in terms of most home sale transactions. 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.

KAIKEA Homes - Ho'opili's Newest Townhome Community's Second Lottery

D.R. Horton's BRAND NEW community of townhomes is called Kaikea at Hoopili.

D.R. Horton's BRAND NEW community of townhomes is called Kaikea at Hoopili. Kaikea home prices will start from high $300,000s to high $700,000s (FS). This community will offer over 15 different floor plan home layouts featuring studio-4 bedroom units with 1-3 bathrooms and living areas ranging from 548 sq. ft. to 2,030 sq. ft. The plan layouts vary greatly depending on price.

Kaikea is offering one or two-story units with either 1 parking stall, 2 parking stalls, 1 car-garage with 1 parking stall or 2-car garage with 1 parking stall. Kaikea will combine a blend of residences and commercial spaces that provide opportunities for those seeking an urban lifestyle in a suburban setting.
There will be approximately 134 multi-family homes, FLEX® homes, and commercial spaces. Kāīkea homes will have elevated finishes including standard quartz countertop and the tile kitchen backsplashes among other designer included finishes.

Kaikea at Hoopili's Second Sales Release!

Applications are now being accepted for Kaikea at Hoopili lottery. For this FIRST release, there are 21 units available ranging from 1-4 bedrooms and 1-3 bathrooms. The prices for this lottery will range from $300,000s to high $700,000s. These homes have an estimated completion time by Spring 2022.

We can help you register for this lottery and guide you through the pre-qualification and application steps. If you are interested in Kaikea at Ho'opili or other homes, contact us at (808) 352-8587 for more information.

LOTTERY APPLICATIONS DUE: Friday, January 14, 2022 at 5pm
LOTTERY HELD ON: Sunday, January 16, 2022 at 10am

Do you have a buyer's agent?

If you are interested in Kaikea at Hoopili, let us know and we can help you with the process and get pre-qualified. It is always a good idea to have a Buyers agent. We are independent real estate agents of Better Homes and Gardens and we do not represent Hoopili projects, we represent YOU, the buyer. In doing so, we have your best interest first, help make the process much simpler and less stressful.

About Colin Lee
Broker-in-Charge, Realtor, CPA* | RB-23147
(808) 352-8587 | ColinL@BetterHawaii.com

Colin is recognized as one of the Top 1% of Realtors on Oahu and Top 100 Realtors in the State of Hawaii and Top 50 on the island of Oahu in terms of most home sale transactions. 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.

Oahu Real Estate Market Update – December 2021

Oʻahu’s Housing Market Marks Positive 2021 for Sellers

Properties continued to sell at record speed and over the asking price amid persistent low inventory levels

December 2021

The O‘ahu housing market ended 2021 with a slight decline of 10.0% in single-family home sales and a healthy 15.4% increase in condo sales year-over-year. The median sales price for single-family homes tied the previously set record in August 2021 at $1,050,000, while condos saw a median sales price of $485,000, slightly up from December 2020.

While O‘ahu’s single-family home market saw new listings, pending sales, and total inventory in escrow all drop year-over-year, the condominium market remained strong, with new listings up 13.1%, pending sales jumped 16.7% and total inventory in escrow rose 11.5%.

2021

In 2021, total O‘ahu sales were up an impressive 37.3% from 2020. Single-family homes saw a substantial 17.9% increase, and condo sales roared back, ending the year up a whopping 53.1% compared to 2020. The median percentage of the original list price received reached 102% for single-family homes and 100% for condos. This means more than half of single-family home sellers received more than their original asking price, and at least half of condo sellers received their full asking price or more. The year-end median days on the market was a mere nine days for single-family homes and 12 days for condos.

In line with the year-over-year double-digit price increases that dominated most of 2021, the single-family home annual median price rose 19.3%, ending the year at $990,000. One year ago, the annual median sales price for single-family homes was $830,000. In 2021, 60.8% of single-family homes sold over the asking price, compared to 31% in 2020.

The $700,000 to $999,999 price range made up the bulk of single-family home sales at nearly 40%; however, most sales increases were seen at the higher $1 million and up price points. Properties sold in the $1,000,000 to $1,499,999 range were up 84.5%, homes that sold in the $1,500,000 to $1,999,999 range were up 95.6%, and homes sold at $2,000,000 and above more than doubled, up 145.5%.

The $400,000 to $499,999 price range made up 18.4% of condo sales in 2021, and the year ended with an annual median sales price of $475,000, an 9.2% increase from the 2020 median of $435,000. Like the single-family home market, condos in the higher price ranges saw more than double the sales. Condo sales in the $600,000 to $999,999 price range increased by 114.6%, and condos sold at $1 million and above increased by 162.0%.

The increase in demand for condos caused supply to drop to astonishingly low levels, driving competitive activity in some areas. In 2021, Oahu condo market saw 36.8% of properties sold over the original asking price, but numerous regions saw over 50% of sales close over asking.

{source: Honolulu Board of REALTORS®}

Click HERE to view full market report.

• Relief for Renters and Homeowners
• Support for Small Businesses
• Aloha United Way 211 Hotline - Connect with a 211 specialist for help
  
  

Click HERE to start viewing homes for sale instantly.

Team Lee

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

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.

KAIKEA Homes - Ho'opili's Newest Townhome Community

D.R. Horton's BRAND NEW community of townhomes is called Kaikea at Hoopili.

D.R. Horton's BRAND NEW community of townhomes is called Kaikea at Hoopili. Kaikea home prices will start from high $300,000s to high $700,000s (FS). This community will offer over 15 different floor plan home layouts featuring studio-4 bedroom units with 1-3 bathrooms and living areas ranging from 548 sq. ft. to 2,030 sq. ft. The plan layouts vary greatly depending on price.

Kaikea is offering one or two-story units with either 1 parking stall, 2 parking stalls, 1 car-garage with 1 parking stall or 2-car garage with 1 parking stall. Kaikea will combine a blend of residences and commercial spaces that provide opportunities for those seeking an urban lifestyle in a suburban setting.
There will be approximately 134 multi-family homes, FLEX® homes, and commercial spaces. Kāīkea homes will have elevated finishes including standard quartz countertop and the tile kitchen backsplashes among other designer included finishes.

Kaikea at Hoopili's FIRST Sales Release!

Applications are now being accepted for Kaikea at Hoopili lottery. For this FIRST release, there are 21 units available ranging from 1-4 bedrooms and 1-3 bathrooms. The prices for this lottery will range from $300,000s to high $700,000s. These homes have an estimated completion time by Spring 2022.

We can help you register for this lottery and guide you through the pre-qualification and application steps. If you are interested in Kaikea at Ho'opili or other homes, contact us at (808) 352-8587 for more information.

LOTTERY APPLICATIONS DUE: Wednesday, December 15, 2021 at 5pm
LOTTERY HELD ON: Friday, December 17, 2021 at 10am

Do you have a buyer's agent?

If you are interested in Kaikea at Hoopili, let us know and we can help you with the process and get pre-qualified. It is always a good idea to have a Buyers agent. We are independent real estate agents of Better Homes and Gardens and we do not represent Hoopili projects, we represent YOU, the buyer. In doing so, we have your best interest first, help make the process much simpler and less stressful.

About Colin Lee
Broker-in-Charge, Realtor, CPA* | RB-23147
(808) 352-8587 | ColinL@BetterHawaii.com

Colin is recognized as one of the Top 1% of Realtors on Oahu and Top 100 Realtors in the State of Hawaii and Top 50 on the island of Oahu in terms of most home sale transactions. 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.

MAMAKA Homes - Ho'opili's Newest Community

D.R. Horton's BRAND NEW community of single family homes is called Mamaka at Hoopili.

Mamaka home prices will start from high $700,000s (FS). This community will offer five floor plan home layouts featuring three and four bedroom homes with 2.5 bathrooms and living areas ranging from 1,057 sq. ft. to 1.365 sq. ft. The plan layouts are two-story homes with a 2-car garage or 1-car garage with 1-car carport. Each home has designer selected flooring packages, whole house split air conditioning and stainless steel appliances. Every residence comes with an expanded, Home Is Connected® - Smart Home system.*

Mamaka will be minutes away from the SoHo community center and pool, a dog park for your furry family to enjoy, and Ka Makana Alii, Kapolei’s biggest shopping center, making your home and time spent, convenient.

Mamaka at Hoopili's FIRST Sales Release!

Applications are now being accepted for Mamaka at Hoopili lottery. For this FIRST release, there are 13 homes available from all five floor plans. This lottery will feature homes with an estimated completion by Spring 2022. The prices for this lottery will range from $770s - $830s.

We can help you register for this lottery and guide you through the pre-qualification and application steps. If you are interested in Lehua at Ho'opili or other homes, contact us at (808) 352-8587 for more information.

LOTTERY APPLICATIONS DUE: Saturday, December 11, 2021 at 5pm
LOTTERY HELD ON: Monday, December 13, 2021 at 10am

Mamaka at Hoopili Floorplans

LAKO Floorplan 

The "LAKO" Model: 4 bedrooms and 2.5 baths at approximately 1,148 interior square feet. Prices start around $820,000s.

MALA Floorplan

The "MALA" Model: 3 bedrooms and 2.5 baths at approximately 1,057 interior square feet. Prices start around $770,000s.

OHI Floorplan

The "OHI" Model: 3 bedrooms and 2.5 baths at approximately 1,148 interior square feet. Prices start around $790,000s.

MAHI’AI Floorplan

The "MAHI’AI" Model: 4 bedrooms and 2.5 baths at approximately 1,365 interior square feet and 1-car garage & 1-car carport. Prices start around $830,000s.

HUA KANU Floorplan

The "HUA KANU" Model: 3 bedrooms and 2.5 baths at approximately 1,315 interior square feet and 1-car garage & 1-car carport. Prices start around $800,000s.

Do you have a buyer's agent?

If you are interested in Mamaka at Hoopili, let us know and we can help you with the process and get pre-qualified. It is always a good idea to have a Buyers agent. We are independent real estate agents of Better Homes and Gardens and we do not represent Hoopili projects, we represent YOU, the buyer. In doing so, we have your best interest first, help make the process much simpler and less stressful.

About Colin Lee
Broker-in-Charge, Realtor, CPA* | RB-23147
(808) 352-8587 | ColinL@BetterHawaii.com

Colin is recognized as one of the Top 1% of Realtors on Oahu and Top 100 Realtors in the State of Hawaii and Top 50 on the island of Oahu in terms of most home sale transactions. 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.

Oahu Real Estate Market Update – November 2021

Condos Outpace Single-Family Homes in Sales, New Listings

Selling at a record pace, condos spend a mere nine median days on the market

Closed sales activity for single-family homes lags behind the condo market, with single-family properties marking just a 9.8% increase in sales compared to a 47.7% jump for condos in November. The median prices for single-family homes and condos tied the previously set record prices at $1,050,000 and $500,000, respectively.

Though single-family homes continue to move into escrow at a quick pace of 11 days, it’s the condo market that set a new record low median days on the market of only nine days. Buyers scooped up condo properties an entire week faster compared to November 2020’s median of 16 days on the market. Meanwhile, around 61% of single-family home sales and 42% of condos sales closed over the asking price in November.

Sales volume doubled for single-family homes in the $1,000,000 to $1,199,999 and $2,000,000 and above ranges with 118.2% and 114.3% hikes in sales, respectively. From a regional perspective, the Waipahu area saw a 116.7% increase in sales compared to last year, followed by the Metro region with a 66.7% uptick in closed sales.

Condos in the more affordable price points of $400,000 to $499,999 accounted for the most sales volume – around 18% of sales for the month or 109 sales. However, nearly all price points in the condo market experienced a positive change in sales volume, with the most growth occurring in the $600,000 to $699,999 range, a staggering 182.8% increase.

Year-over-year new listings for single-family homes dropped 5.5%, with just 358 new properties entering the market in November. On the other hand, sellers added 639 new condo listings, representing a 13.9% uptick compared to this time last year.

Year-to-date, single-family homes sales rose 21.4%, and condo sales jumped up 57.7%. The year-to-date median price of a single-family home increased 19.8% compared to the same time last year, rising from $822,000 in 2020 to $985,000 this year. So far this year, the median condo price is $475,000, representing a 10.5% increase over the same period in 2020.

{source: Honolulu Board of REALTORS®}

Click HERE to view full market report.

• Relief for Renters and Homeowners
• Support for Small Businesses
• Aloha United Way 211 Hotline - Connect with a 211 specialist for help
  
  

Click HERE to start viewing homes for sale instantly.

Team Lee

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

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.

6218 Kawaihae Place #218, Honolulu, HI 96825

"Marina Palms"

Property Summary

NEW LISTING! RARELY AVAILABLE 3 Bedroom 2 Bath Beautifully Upgraded Townhome with 13 Owned PV Solar Panels! Water lovers can enjoy the easy access to the ocean for kayaks or stand up paddle & boat dock slip upon availability. Other features include an upgraded kitchen with soft close cabinets & quartz counter tops, 3 split ACs, pet friendly with no weight limit, marina & mountain views, pool & jacuzzi nearby, large attic storage and separate assigned outside storage closet, washer/dryer in unit, 2 side by side parking stalls and much more! Marina Palms in Hawaii Kai is a great community, conveniently located just minutes away from highway access, Costco, shopping centers, parks, restaurants & schools. A MUST SEE! Offered at $899,000 FS.

Status: ACTIVE
Bedrooms: 3
Bathrooms: 2
Parking: 2 Car, Assigned, Open, Street
Living SqFt: 1,122
Year Built: 1955

Year Remodeled: 2016
Inclusions: AC Split, Cable TV, Ceiling Fan, Dishwasher, Disposal, Dryer, Photovoltaic - Owned, Range/Oven, Refrigerator, Washer, Water Heater
Amenities: Boat Dock, Condo Association Pool, Resident Manager, Storage, Whirlpool

Want to see more homes in the Hawaii Kai Area? Visit our Hawaii Kai 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

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 visit our currently listed properties.

Click HERE to start viewing homes for sale instantly.

Team Lee

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

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.

Oahu Real Estate Market Update – October 2021

Oahu's Housing Market Holds Steady Ahead of Holiday Season Lull

Median prices of single-family homes stand at $1 million, condos at $550k

O‘ahu’s housing market is holding steady ahead of its typical holiday season lull. In October 2021, closed sales rose year-over-year, with single-family homes ticking up modestly 10.4% and condo properties surging higher to 27.3%. The median sales price for a single-family home fell slightly from the August 2021 record of $1,050,000 to $1,000,000, while the median condo price tied the August record of $500,000.

Single-family home sales in the top price range of $2,000,000 and up skyrocketed 188.2%, followed by closed sales of properties in the $900,000 to $1,099,999 range, increasing 67.2% compared to October 2020. Year-over-year, the condo market recorded more than double the sales in the $600,000 and up range, though the bulk of sales occurred in the $300,000 to $599,999 range. The Metro region accounted for the majority of the sales volume growth, with 343 condo sales in October, rising 68.1% or 139 sales above last October. So far this year, closed sales of single-family homes and condos are up 22.6% and 58.8%, respectively.

The portion of single-family homes and condos selling over the asking price increased around 20% each since October 2020. Roughly 62% or 236 single-family homes and around 41% or 251 condos closed above the original asking price. The median time properties spent on the market remained low, with 10 days for single-family homes and 11 days for condos.

New listings for single-family homes dipped slightly 1.1% compared to this time last year, while new condo listings bumped up 8.0%. However, active inventory remains down significantly in both categories, dropping 23.0% for single-family homes and 39.4% for condos.

The increase in closed sales for all properties is a welcome sign that Hawai‘i families are getting their offers accepted and moving into their homes. However, the decline in new listings will likely continue, especially with the holiday season quickly approaching, exacerbating the lack of inventory.

{source: Honolulu Board of REALTORS®}

Click HERE to view full market report.

• Relief for Renters and Homeowners
• Support for Small Businesses
• Aloha United Way 211 Hotline - Connect with a 211 specialist for help
  
  

Click HERE to start viewing homes for sale instantly.

Team Lee

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

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.

Oahu Real Estate Market Update – September 2021

2 Out of Every 3 Single-Family Homes Sell for Over the Asking Price in September

Year-over-year market activity continues to mark gains, but month-to-month closed sales dip

In September, closed sales of single-family homes and condos continued to outpace sales activity from the same time last year, recording 8.4% and 34.9% increases, respectively. However, sales dropped slightly compared to August, with single-family homes down just 0.2% and condos dipping 8.9%. The median price for a single-family home remained at $1,050,000, while the median condo price rose 7.4% year-over-year to $478,000.

Around 57% of single-family homes sold in September were priced at $1 million and above, and the most volume growth occurred in the $1,000,000 to $1,399,999 range, with more than double the sales as last September. Roughly two out of every three single-family homes sold last month closed above the original asking price. The practice of bidding over the asking price was most prevalent in the Ewa Plain region, representing more than 80% of the region’s third quarter sales.

Sales of condo properties in the $700,000 and above price range more than doubled year-overyear with 129 closed sales compared to just 57 last September. Meanwhile, 39.6% of condos sold for more than the asking price in the third quarter, especially in the Central, Ewa Plain, and Makakilo regions, where this occurred in over 70% of sales.

Both markets marked an uptick in new listings compared to 2020; however, active inventory – representing properties listed and open for sale at the end of the given month – fell sharply. The active inventory of single-family homes dropped by 17.4%. The regions with the most significant decline in active inventory for this market were Diamond Head and the North Shore, representing 49% and 59% drops, respectively. A total of 738 new condo listings came on the market in September, translating to a 28.1% year-over-year increase, though active inventory was down 40.9% compared to one year ago.

As is typical for this time of year, the O‘ahu real estate market saw a slight decrease in total sales month-to-month. “We’re seeing a slight decrease in total sales month-to-month as families focus on the return to the school year and prepare for the holiday season, which is typical for this time of the year,” said Shannon Heaven, president, Honolulu Board of REALTORS®. “Despite the modest dip in market activity, the majority of homebuyers continue to bid over the asking price in the hopes of securing a property to call home.”

{source: Honolulu Board of REALTORS®}

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Team Lee

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

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.