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®}

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.

 

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.

Nov. 10, 2022

5396 Poola Street, Honolulu, HI 96821

Dining Room View at 5396 Poola Street

Waialae Iki

Property Summary

Visit OPEN HOUSE on 11/13 at 2pm-5pm. Coastal Living on the Ridge! This spacious 5 bedroom, 3.5 bath beautifully renovated family home with amazing views of the ocean, southern shorelines, mountain ridge, and brilliant colors of city lights. Enjoy gentle trade winds & peaceful surroundings from this private 15,402 sqft rim lot on the quiet side of the lower ridge in Waialae Iki. Move-in ready w/ highly functional floor plan; primary bdrm/bath, lanai, living areas, & garage on the same level; additional bdrms, baths, wet bar, office/exercise space, laundry room, and living/family space downstairs provides easy access to the large outside covered patio. Quality improvement includes an array of 56 OWNED SOLAR PV PANELS, 2 solar water heater panels; wired for EV chargers, plus 2 solar back up battery system powering the home throughout the evenings, current owner enjoys zero electric cost. Quality built foundation w/ commercial grade designs. Superb prime location with easy access to the beaches, Kahala Mall, high-ranked public school district, & many more essentials. Large lot size allows for a 2nd detached dwelling. Offered at $1,998,000 FS.


Bedrooms: 5
Bathrooms: 3.5
Parking: 4
Living SqFt: 3,155
Lanai SqFt: 330
Land SqFt: 15,402
Year Built: 1973
Inclusions: AC Split, Auto Garage Door Opener, Blinds, Cable TV, Ceiling Fan, Dishwasher, Disposal, Lawn Sprinkler, Microwave Hood, Photovoltaic - Owned, Range/Oven, Refrigerator, Smoke Detector, Solar Heater, Washer

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

Living room at 5396 Poola St

Kitchen at 5396 Poola St

Kitchen at 5396 Poola St

Dining area at 5396 Poola St

Master bedroom at 5396 Poola St

Master bath at 5396 Poola St

Family room at 5396 Poola St

Guest bathroom at 5396 Poola St

Second bedroom at 5396 Poola St

Guest bedroom with wet bar at 5396 Poola St

Hallway bathroom at 5396 Poola St

Gym room at 5396 Poola St

Laundry room at 5396 Poola St

Front view at 5396 Poola St

View from lanai at 5396 Poola St

Aerial view of 5396 Poola St

Floor map of 5396 Poola 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. 

Nov. 7, 2022

Oahu Real Estate Market Update October 2022

Oahu Real Estate Market Update Graphic October 2022

Oahu Home Sales Drift Downward Amid Dampened Buyer Activity

Properties are spending longer on the market, marking a median of 19 days

Buyer activity continues to slow with closed sales of single-family homes dropping 41.7% and condos falling 28.8%. Median sales price growth has also decelerated, though prices remained up year-over-year, with single-family homes increasing 5.0% to $1,050,000 and condos rising 4.0% to $520,000.

Properties that closed in October were on the market for a median of 19 days in both markets, up approximately eight to nine days year-over-year. Bidding over the asking price is shifting downward in both markets. For single-family homes, sales this October were split, with 50% of single-family home sellers receiving their full asking price or more, while the other 50% of sales closed below the original asking price. That’s a notable difference considering 75% of single family homes sold at full asking price or more in October 2021. The condo market also saw 48% of sales close at the full asking price or more, compared to 59% last year.

Single-family homes in the $800,000 to $999,999 range made up the largest portion of sales, accounting for 31.5%, though the number of sales in that range decreased 42.6% compared to October 2021. Higher-priced properties at $2 million and above saw a sharp 63.3% drop in sales. The Diamond Head and Ewa Plain regions experienced the most significant reduction in sales volume, falling 62% and 53%, respectively.

Like September, the decline in condo sales occurred primarily in the $799,999 and below range, dropping 34.4% year-over-year, while sales in the $800,000 and above range saw a modest increase of 4.6%. The Ewa Plain and Metro regions recorded the most significant sales drops, declining 50% and 24%, respectively.

In October, fewer new listings were added to the market, dropping 24.2% for single-family homes and 25.8% for condos year-over-year. Compared to last year, both markets saw a smaller portion of new listings in escrow or sold by the end of the month. Approximately 30% of the new listings were in escrow or sold by the end of October. Last year, that portion was 56% for single-family homes and 48% for condos.

Most single-family home price points saw an increase in active inventory, though properties in the $800,000 to $999,999 price range more than doubled, skyrocketing 153.2% compared to a year ago. All regions saw an increase in active inventory of single-family homes. Several regions, including Ewa Plain, Leeward, Makakilo, and Pearl City, saw more than double the inventory from last year. Similarly, active inventory for condos increased across most of the island, though inventory was down in Diamond Head and Pearl City, dropping 43% and 26%, respectively. Condo active inventory declined 22.6% in the $100,000 to $399,999 range, while the $500,000 to $699,999 price range saw the largest increase, up 73.4% from a year ago.

Pending sales for both markets declined in October, with contract signings down 50.5% for single-family homes and 45.7% for condos.

{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.

 

Nov. 4, 2022

500 Lunalilo Home Road Unit #35B

Amenity View at 500 Lunalilo Home Road Unit #35B

Esplanade

Property Summary

NEW LISTING!! Rare gem! Enjoy beautiful mountain views from this exquisitely renovated and immaculately maintained 1 bdrm/1 bath CORNER/END unit with 2 PARKING at the Esplanade in Hawaii Kai. This unique unit features a modern loft ideal for a bedroom or office, vaulted ceilings in the living room, travertine floors, renovated kitchen and bath with granite counter tops, central AC, and a spacious covered lanai. Esplanade offers resort-like amenities including a heated salt-water swimming pool, tennis courts, BBQ areas, fitness center, and more! Don’t miss this fantastic opportunity! Offered at $645,000 FS


Bedrooms: 1
Bathrooms: 1
Parking: 2
Living SqFt: 854
Lanai SqFt: 112
Year Built: 1973
Inclusions: AC Central, Auto Garage Door Opener, Blinds, Cable TV, Dishwasher, Disposal, Dryer, Microwave Hood, Range/Oven, Refrigerator, Washer, Water Heater
BBQ, Condo Association Pool, Exercise Room, Heated Pool, Meeting Room, Patio/Deck, Pool on Property, Putting Green, Recreation Area, Recreation Room, Resident Manager, Sauna, Security Guard, Tennis Court, Trash Chute, 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

Living room at 500 Lunalilo Home Road Unit #35B

 Living room at 500 Lunalilo Home Road Unit #35B

Dining area at 500 Lunalilo Home Road Unit #35B

 Dining area at 500 Lunalilo Home Road Unit #35B

 Kitchen at 500 Lunalilo Home Road Unit #35B

 Kitchen at 500 Lunalilo Home Road Unit #35B

 Bedroom at 500 Lunalilo Home Road Unit #35B

 Bedroom at 500 Lunalilo Home Road Unit #35B

 Lanai_1 at 500 Lunalilo Home Road Unit #35B

 Pool at 500 Lunalilo Home Road Unit #35B

Jacuzzi at 500 Lunalilo Home Road Unit #35B

Rec Room at 500 Lunalilo Home Road Unit #35B

Rec Room at 500 Lunalilo Home Road Unit #35B

Tennis at 500 Lunalilo Home Road Unit #35B

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.

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

Oct. 15, 2022

91-3633 Kauluakoko Street Unit #711

Living Room at 91-3633 Kauluakoko Street Unit #711

Kohina at Hoopili in Ewa Beach

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. Recent Price Improvement at $729,000! 


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.

Oct. 7, 2022

1149 Hunakai Street, Honolulu, HI 96816

View of 1149 Hunakai St

Kahala Area

Property Summary

RARELY AVAILABLE! Come see this beautifully maintained 3 bedroom 2 bathroom SINGLE LEVEL home in Kahala, one of Oahu’s much sought-after neighborhoods. Situated on an over 8,800 sq. ft. lot and with over 2,000 sq ft of interior living space, features include fresh interior paint, new carpet, split ACs throughout, a leased PV system, and spacious covered lanai, perfect for indoor/outdoor entertaining. Ideally located just minutes from beaches, parks, and steps from Kahala Mall with a multitude of shopping, dining, and entertainment options. Don’t miss this opportunity! Offered at $2,250,000 FS


Bedrooms: 3
Bathrooms: 2
Parking: 2
Living SqFt: 2371
Land SqFt: 8,842
Year Built: 1952
Inclusions: AC Split, Blinds, Cable TV, Chandelier, Disposal, Drapes, Dryer, Other, Photovoltaic – Leased, Range/Oven, Refrigerator, Washer, Water Heater

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 1149 Hunakai St

1149 Hunakai St

1149 Hunakai St

Dining Area at 1149 Hunakai St

Bedroom at 1149 Hunakai St

Bedroom at 1149 Hunakai St

Bedroom at 1149 Hunakai St

Lanai at 1149 Hunakai St

Bathroom at 1149 Hunakai St

Kitchen at 1149 Hunakai St

Carport at 1149 Hunakai St

 

 

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.

Oct. 6, 2022

Oahu Real Estate Market Update September 2022

Oahu Real Estate Market Update Graphic September 2022

Sales of O‘ahu Homes Cool Amid Rising Mortgage Rates

Median sales prices remain relatively flat, active inventory builds gradually

Rising mortgage rates are weighing on home sales. Year-over-year, single-family home and condo sales dropped 34.4% and 19.3%, respectively, and compared to August 2022, single family home sales were down 11.5%, while condo sales dipped 2.4%. Pending sales activity was also muted compared to last year, with contract signings falling 43.7% for single-family homes and 30.7% for condos.

Median sales prices remained relatively flat over the last several months and saw a slight bump up compared to the same time last year. In September, the single-family home median was $1,100,000, up 4.8%, while the condo median sales price was $502,500, a 5.1% increase from a year ago.

New listing volume continued to fall, declining 26.2% for single-family homes and 18.6% for condos from a year ago. However, properties are spending more time on the market. The median days on market for single-family homes rose to 18 days, compared to 9 days in September 2021, and condos marked 14 days in September, compared to 11 days during the same period last year. Although active inventory increased, up 43.9% and 10.8% for single family homes and condos, respectively, it is approximately 40% below its 2019 pre-pandemic level.

Fewer single-family homes and condos are closing above the asking price, with 36% of single family homes sold above the original offer compared to 64% in September 2021 and 29% for condos compared to 40% during the same time last year.

Overview of third quarter stats

The third quarter of 2022 ended with sales well below the same period in 2021. Quarterly sales fell 27.9% for single-family homes and 22.4% for condos. Year-to-date, the shift in affordability has had a greater impact on the single-family home market, with sales down 15.8% from a year ago. The condo market is slightly trailing 2021 sales, with sales down 3.3% year-to-date.

The Q3 median sales price in most regions remained elevated from one year ago. However, the rise in median sales prices appears to have slowed or perhaps even reversed course in some areas. In the single-family home market, compared to Q2, the North Shore region saw a 15.1% decline, the Diamond Head region was down 12.8%, and the Leeward region dropped 10.5%. In the condo market, the Makakilo region saw the greatest decline in median sales price, down 7.8%, from Q2.

Compared to the same period one year ago, new listing volume in Q3 was down 20.1% for single-family homes and 14.0% for condos.

{source: Honolulu Board of REALTORS®}

Click HERE to view 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.

 

Sept. 30, 2022

988 Halekauwila St #2710 Honolulu, HI 96814

View of 988 Halekauwila St

Ke Kilohana in Kakaako

Property Summary

RARE Opportunity! 2.25% Loan assumption option available! This beautiful high floor 3 bed 2 bath unit is on the desirable ocean facing side of the building! Features of the unit include a separate 32sqft storage room that limited units have, ocean views from each bedroom and living room, pet friendly, 2 side-by-side parking stalls near the elevator, laundry room with side by side washer/dryer in the unit, AC in every room, 24 hour security, great building amenities such as the amazing Sky Lanais, full size gym, BBQ area, movie theater, karaoke room and much more! Ke Kilohana is in a great location in the Ward Village/Kakaako area that is minutes away from beaches, major shopping malls and downtown. Building litigation should not be an issue to assume the 2.25% loan. Assumption is subject to approval from the lender/VA but buyer does NOT need to be military. Save over $1,500 a month compared to buying a similar priced property at today’s interest rates. A MUST SEE! Offered at $949,000 FS


Bedrooms: 3
Bathrooms: 2
Parking: 2
Living SqFt: 962
Year Built: 2017
Inclusions: AC Window Unit, Blinds, Dishwasher, Disposal, Dryer, Microwave Hood, Range/Oven, Refrigerator, Washer
Amenities: BBQ, Club House, Dog Park, Playground, Fire Sprinkler, Yoga Room, Exercise Room, Trash Chute

Want to see more homes in the Kakaako 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 988 Halekauwila St #2710

Living Room at 988 Halekauwila St #2710

Living Room at 988 Halekauwila St #2710

Living Room and Kitchen at 988 Halekauwila St #2710

 Kitchen at 988 Halekauwila St #2710

 Master Bedroom at 988 Halekauwila St #2710

 Master Bathroom at 988 Halekauwila St #2710

 Bedroom at 988 Halekauwila St #2710

 Bedroom at 988 Halekauwila St #2710

 Bathroom at 988 Halekauwila St #2710

 Laundry room at 988 Halekauwila St #2710

 View at 988 Halekauwila St #2710

 Large Storage Room at 988 Halekauwila St #2710

 BBQ at 988 Halekauwila St #2710

 Bike Storage at 988 Halekauwila St #2710

 Dog Park at 988 Halekauwila St #2710

 Gym at 988 Halekauwila St #2710

 Gym at 988 Halekauwila St #2710

 Rec Room at 988 Halekauwila St #2710

 Work Room at 988 Halekauwila St #2710

 Lounge Area at 988 Halekauwila St #2710

 Large Lounge Room at 988 Halekauwila St #2710

 Small Lounge Room at 988 Halekauwila St #2710

 Play Room at 988 Halekauwila St #2710

Large Lounge Room at 988 Halekauwila St #2710

 Theatre Room at 988 Halekauwila St #2710

Karaoke Room at 988 Halekauwila St #2710

 Yoga Room at 988 Halekauwila St #2710

 Parking at 988 Halekauwila St #2710

 

 

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.

Sept. 8, 2022

990 Ala Nanala St #29C, Honolulu, HI 96818

Living Room at 990 Ala Nanala St #29C

Franklin Towers in Salt Lake Moanalua

Property Summary

Rare Gem!!!Don’t miss this beautifully maintained 3 bdrm/1.5 bath SINGLE LEVEL home in highly coveted Koko Head Terrace. Situated on an almost 7,000 sq. ft. lot, features include fresh int/ext paint, new carpet, and new kitchen appliances. Enjoy vaulted ceilings throughout the home and step out to a spacious covered lanai, perfect for entertaining family and guests. Conveniently located near beaches, parks, shopping, and restaurants. A must see! Offered at $1,295,000


Bedrooms: 2
Bathrooms: 2
Parking: 2
Living SqFt: 786
Lanai SqFt: 72
Year Built: 1985
Inclusions: Ceiling Fan, Dryer, Range Hood, Range/Oven, Refrigerator, Washer, Water Heater
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 Salt Lake Area? Visit our Salt Lake 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 990 Ala Nanala St #29C

Living Room at 990 Ala Nanala St #29C

Living Room at 990 Ala Nanala St #29C

Living Room at 990 Ala Nanala St #29C

Kitchen at 990 Ala Nanala St #29C

Kitchen at 990 Ala Nanala St #29C

Kitchen at 990 Ala Nanala St #29C

Master Bedroom at 990 Ala Nanala St #29C

Master Bedroom at 990 Ala Nanala St #29C

Master Bathroom at 990 Ala Nanala St #29C

Second Bedroom at 990 Ala Nanala St #29C

Second Bedroom at 990 Ala Nanala St #29C

Second Bathroom at 990 Ala Nanala St #29C

Lanai at 990 Ala Nanala St #29C

View at 990 Ala Nanala St #29C

View at 990 Ala Nanala St #29C

View at 990 Ala Nanala St #29C

View at 990 Ala Nanala St #29C

Covered Parking at 990 Ala Nanala St #29C

Partial Covered Parking at 990 Ala Nanala St #29C

Playground at 990 Ala Nanala St #29C

Playground at 990 Ala Nanala St #29C

Pool at 990 Ala Nanala St #29C

Kiddie Pool at 990 Ala Nanala St #29C

Jacuzzi at 990 Ala Nanala St #29C

Putting Green at 990 Ala Nanala St #29C

Tennis at 990 Ala Nanala St #29C

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.