This page contains reports, statistics & market updates regarding the buying and selling of real estate in Honolulu and Hawaii. View statistical reports with average pricing, number of units sold and absorption rates. Data from the Honolulu Board of Realtors and other sources.
Honolulu Real Estate Report October 2024
Honolulu Hawaii real estate statistics and report outline home and condo prices, sales volume, housing inventory, and more. CLICK HERE for the full report from the Honolulu Board of Realtors.
Hawaii Housing Report - September 2024
Watch the VIDEO REPLAY(29 mins): Hawaii Housing Report with economist Paul Brewbaker,, Anders Hostelley, & Patrick O'Neill. Honolulu home prices jump to a new high and new trend line. Condo inventory on Oahu is piling up with 65% more condos for sale. Interest rates drop to 5.8% with lower rates ahead.
Honolulu Real Estate Market Report September 2024
Honolulu Hawaii housing statistics released in September 2024 from the Honolulu Board of Realtors. Detailed statistics on the housing market including prices, inventory, months of inventory, sales pace, closed sales, pending sales and more. CLICK HERE for report.
Condo Overview: Condo inventory continues to pile up with 64% more condos available for sale compared to last year. Year-to-date (YTD) condo sales decreased by 6% from last year & down 36% compared to 2022. Current months of active inventory for condos remains at 5.1%, indicating a BUYER's market. Single-Family Home Overview: Single-family homes have performed better than condos, but inventory rose by 27% with YTD sales increasing 7.5% compared to last year. The months of active inventory for homes rose slightly to 3.4 months, which falls within the typical range of a SELLER’s market.
Hawaii's Condo Insurance Crisis
Watch the VIDEO REPLAY(39 mins): Hawaii's Condominium Insurance Crisis featuring insurance expert Sue Savio, Anders Hostelley, & Patrick O'Neill. Condominium insurance rates in Hawaii are skyrocketing, with some maintenance fees increasing 400%. Many condos are underinsured, restricting access to conventional financing resulting in decreased property values. This discussion also covers the impact of Hawaii's fire safety ordinance on insurance premiums.
Real Estate Market Report Honolulu August 2024
Honolulu Hawaii housing statistics released in August 2024 from the Honolulu Board of Realtors. Detailed statistics on the housing market including prices, inventory, months of inventory, sales pace, closed sales, pending sales and more. CLICK HERE for report.
Honolulu Housing Report July 2024
Latest Honolulu Hawaii housing statistics from the Honolulu Board of Realtors. Detailed statistics on the housing market including prices, inventory, sales pace, closed sales, pending sales and more. CLICK HERE for report.
Hawaii Housing Report May 2024 Recorded March 2024 with economist Paul Brewbaker & Patrick ONeill. (34 mins)
Hawaii Housing Report recorded May 2024. Thank you for the Honolulu Board of Realtors, Luxury Homes International, Title Guaranty, & Guaranteed rate. Economist Paul Brewbaker, Patrick ONeill R, Anders Hostelley.
Honolulu Market Report May 2024
Latest Honolulu Hawaii housing statistics from the Honolulu Board of Realtors. Detailed statistics on the housing market including prices, inventory, sales pace, closed sales, pending sales and more. Click HERE for report.
Hawaii Housing Report April 2024
Recorded April 2024 with economist Paul Brewbaker & Patrick ONeill R. Video replay (23 mins) with average pricing, number of units sold and absorption rates. Data from the Honolulu Board of Realtors and other sources.
Economist Paul Brewbaker, Realtor Patrick ONeill, Anders Hostelley. Honolulu Board of Realtors, Luxury Homes International, Title Guaranty Escrow, Guaranteed Rate Home Loans.
Honolulu Hawaii Market Report April 2024
Latest Honolulu Hawaii housing statistics from the Honolulu Board of Realtors. Detailed statistics on the housing market including prices, inventory, sales pace, closed sales, pending sales and more. Click HERE for report.
Hawaii Housing Report March 2024 Recorded March 2024 with economist Paul Brewbaker & Patrick ONeill. (23 mins)
Market Report - Released March 2024
Latest Honolulu Hawaii housing statistics from the Honolulu Board of Realtors. Detailed statistics on the housing market including prices, inventory, sales pace, closed sales, pending sales and more. CLICK HERE for report.
Market Report - Released February 2024
Latest Honolulu Hawaii housing statistics from the Honolulu Board of Realtors. Detailed statistics on the housing market including prices, inventory, sales pace, closed sales, pending sales and more. CLICK HERE for report.
Hawaii Housing Report with economist Paul Brewbaker - 2023 in review. Recorded December 2023 with economist Paul Brewbaker (31 mins)
Trump Tower Waikiki name change to Ka Lai
The 462-room condo-hotel known as Trump Tower Waikiki is changing the name to Ka Lai Waikiki on February 7, 2024.Earlier the hotel owner Irongate released the name Waikea Waikiki Beach but then changed it to Ka Lai after further research.
Trump Hotels and Irongate released a statement saying that the groups had "come to a mutual agreement for a significant buyout of the hotel management and license agreements."
Ka Lai Waikiki will be managed by LXR Hotels & Resorts which is an affiliate of Hilton Hotels and the brand’s first property in Waikiki. As part of the rebranding, the property is preparing for a phased renovation process to begin in 2025 led by London-New York design studio Bryan O’Sullivan.
Trump Tower Waikiki opened in 2009 with a mix of studios, one-, two- and three-bedroom condominium units with full hotel services.The onsite rental program is administered by Aloha Hospitality.Sales prices in the building range from $370,000 to $10 Million.
Market Report - Released January 2024
Latest Honolulu Hawaii housing statistics from the Honolulu Board of Realtors. Detailed statistics on the housing market including prices, inventory, sales pace, closed sales, pending sales and more. CLICK HERE for report.
Market Report - Released December 2023
Latest Honolulu Hawaii housing statistics from the Honolulu Board of Realtors. Detailed statistics on the housing market including prices, inventory, sales pace, closed sales, pending sales and more. CLICK HERE for report.
Market Report - Released November 2023
Latest Honolulu Hawaii housing statistics from the Honolulu Board of Realtors. Detailed statistics on the housing market including prices, inventory, sales pace, pending sales, and more. Sales are down and prices are down. CLICK HERE to view the Full Report
Market Report - Released October 2023
Latest Honolulu Hawaii housing statistics from the Honolulu Board of Realtors. Detailed statistics on the housing market including prices, inventory, sales pace, pending sales, and more. Sales are down and prices are down. CLICK HERE to view the Full Report
Mid Year Real Estate Review 2023 with economist Paul Brewbaker
The 14th annual Mid Year Real Estate Review was held at Waialae Country Club in Honolulu Hawaii with over 110 invited guests. Economist Paul Brewbaker covered topics including the impact of the Maui fires, housing trends, and the broader Hawaii economy.
Thank you to the sponsors! Luxury Homes International, Ward Village, Alia, Castle & Cooke, Title Guaranty, Guaranteed Rate, Inspect Hawaii, Hawaii International Real Estate Council, Hawaii Realtors.
Market Report - September 2023
Sales are down and prices are down. CLICK HERE to view the Full Report
Market Report - August 2023
Sales are down and prices are down. CLICK HERE to view the Full Report
Hawaii Housing Report - July 2023
with economist Paul Brewbaker (27 mins)
Market Report - July 2023
High interest rates continued to drag on the Honolulu Hawaii housing market. Prices are flat, inventory in up, and sales are down. View FULL REPORT HERE
Hawaii Housing Report - June 2023
with Economist Paul Brewbaker (36 mins)
Market Report - June 2023
High interest rates continued to drag on the Honolulu Hawaii housing market. Prices are flat, inventory in up, and sales are down. View FULL REPORT HERE
Hawaii Housing Report - May 2023
with Economist Paul Brewbaker (37 mins)
Closed sales are down 39%, prices are down 9.5%. Is this the big Hawaii real estate market correction? Find out from economist Paul Brewbaker, Anders Hostelley & Patrick ONeill R in this in depth conversation about the future of the housing market.
Honolulu Housing Report - May 2023
High interest rates and economic uncertainty continue to dampen the Honolulu Hawaii real estate market. Homes sales are down 38% while inventory is up according to the new housing report released by the Honolulu Board of Realtors May 6, 2023. View Full Report Here
Hawaii Housing Report - April 2023
with Economist Paul Brewbaker (38 mins)
Closed sales are down 43% while the number of homes for sale is up 57%. Prices have dropped and interest rates are still unstable. Find out what's next for the Hawaii housing market in this in-depth conversation with Hawaii's leading economist Paul Brewbaker. Presented by Guaranteed Rate Mortgage & Luxury Homes International. April 2023.
Honolulu Housing Report - April 2023
Housing report released by the Honolulu Board of Realtors April 6, 2023. View the Full Report Here
Hawaii Housing Report - March 2023
with Economist Paul Brewbaker - March 2023 (39 mins)
Honolulu Housing Report - March 2023
Home sales plummet 261% while sales continue to fall. The number of sales dropped 28% and 33% for homes & condos respectively. Median home prices remain below $1 Million at $987,000, a drop of 12.4% compared to last year. Condo median price declined a modest 3.4%. View the Full Report Here
Hawaii Housing Report - February 2023
with Economist Paul Brewbaker - (41 mins)
In depth conversion regarding the Hawaii housing market with focus on pricing, inventory, & sales pace. Home sales dropped 43%! Inventory increased 93%! Is the housing market poised for a crash or recovery?
Economist Paul Brewbaker and Patrick ONeill look back at 2022 and provide predictions for 2023.
Honolulu Housing Report - February 2023
The year begins with sales plummeting 54% for homes & 50% for condos. Higher interest rates & economic uncertainty continue to rock the housing market according to the latest Honolulu Board of Realtors report. Good news for buyers! Home prices dipped below $1 Million for the first time since July 2021.
Active inventory increased a whopping 77.2% for homes & 23.7% for condos but still remains below pre-pandemic levels. Months of remaining inventory increased 150% for homes & 50% for condos. View the Full Report Here
Hawaii Housing Report - January 2023
with Economist Paul Brewbaker (33 mins)
In depth conversion regarding the Hawaii housing market with focus on pricing, inventory, & sales pace. Home sales dropped 43%! Inventory increased 93%! Is the housing market poised for a crash or recovery?
Economist Paul Brewbaker and Patrick ONeill look back at 2022 and provide predictions for 2023.
2022 Year End Property Report - Honolulu Hawaii
CLICK HERE to view the year end Honolulu housing report released from the Honolulu Board of Realtors. The report outlines housing prices, inventory and sales statistics for the year of 2022. Luxury Homes International. Posted January 7, 2023
Hawaii Housing Report with Economist Paul Brewbaker December 2022
In depth conversation about the economy and Hawaii Housing market recorded December 15, 2022. 32 minute video.
Data provided by the Honolulu Board of Realtors. Insight into the latest pricing trends, inflation, interest rates. Presented by Luxury Homes International.
Honolulu Housing Report - December 2022
CLICK HERE to view the Honolulu housing report released November 6th from the Honolulu Board of Realtors. The report outlines housing prices, inventory and sales statistics for the Month of November 2022. Luxury Homes International.
Pending sales dropped 46% for homes and 37.3% for condos compared to last year. Active inventory increased 86.3% for homes and 20.4% for condos. Read more details in the full report.
Honolulu Housing Report - November 2022
CLICK HERE to view the Honolulu housing report released November 6th from the Honolulu Board of Realtors. The report outlines housing prices, inventory and sales statistics for the Month of October 2022. Luxury Homes International.
Pending sales dropped 50.5% for homes and 45.7% for condos compared to last year. Active inventory increased 43.9% for homes and 10.8% for condos. Read more details in the full report.
Honolulu Housing Report - October 2022
CLICK HERE to view the Honolulu housing report released October 6th from the Honolulu Board of Realtors. The report outlines housing prices, inventory and sales statistics for the Month of September 2022. Luxury Homes International.
Pending sales dropped 43% for homes and 30% for condos compared to last year. Active inventory increased 43.9% for homes and 10.8% for condos. Read more detail in the full report.
Hawaii Housing Report with economist Paul Brewbaker September 2022
In depth look at the economics shaping Hawaii's real estate market with top economist Paul Brewbaker. Data provided by the Honolulu Board of Realtors. This in-depth discussion provides insight into the latest pricing trends, inflation, interest rates. Presented by Luxury Homes International.
Honolulu Housing Report - September 2022
CLICK HERE to view the Honolulu housing report released September 6th from the Honolulu Board of Realtors. The report outlines housing prices, inventory and sales statistics for the Month of August 2022. Luxury Homes International.
Hawaii Housing Report with economist Paul Brewbaker August 2022
In depth look at the economics shaping Hawaii's real estate market with top economist Paul Brewbaker. Data provided by the Honolulu Board of Realtors. This in-depth discussion provides insight into the latest pricing trends, inflation, interest rates. Presented by Luxury Homes International.
Housing Report from Honolulu Board of Realtors - August 2022
CLICK HERE to view the Honolulu housing report released August 6, 2022 from the Honolulu Board of Realtors. The report outlines housing prices, inventory and sales statistics for the Month of July 2022.
Hawaii Mid Year Real Estate Review with Economist Paul Brewbaker June 2022
Hawaii Mid-Year Real Estate Review is an in-depth look at the economics affecting the Hawaii Housing market. Homes prices, interest rates, inflation, housing supply and much more. Thank you to the sponsors Howard Hughes Corp, Guaranteed Rate, Title Guaranty Hawaii, Hawaii International Real Estate Council. Hosted by Luxury Homes International.
Housing Report from Honolulu Board of Realtors - July 2022
CLICK HERE to view the Honolulu housing report released July 6th from the Honolulu Board of Realtors. The report outlines housing prices, inventory and sales statistics for the Month of June 2022. Luxury Homes International.
Housing Report from Honolulu Board of Realtors - June 2022
CLICK HERE to view the Honolulu housing report released June 6th from the Honolulu Board of Realtors. The report outlines housing prices, inventory and sales statistics for the Month of May 2022. Luxury Homes International.
April 2022 Housing Report from Honolulu Board of Realtors
CLICK HERE to view the April 2022 housing report released May 5th from the Honolulu Board of Realtors. The report outlines housing prices, inventory and sales statistics. Luxury Homes International.
Real Estate Report with economist Paul Brewbaker April 2022
In depth look at the economics shaping Hawaii's real estate market with top economist Paul Brewbaker. Data provided by the Honolulu Board of Realtors. This in-depth discussion provides insight into the latest pricing trends, inflation, interest rates. Presented by Luxury Homes International.
March 2022 Housing Report from Honolulu Board of Realtors
CLICK HERE to view the February 2022 housing report from the Honolulu Board of Realtors. The report outlines housing prices, inventory and sales statistics.
Real Estate Report with economist Paul Brewbaker February 26th 2022
In depth look at the economics shaping Hawaii's real estate market with top economist Paul Brewbaker. This in-depth discussion provides insight into the latest pricing trends. Presented by Luxury Homes International.
January 2022 Housing Report from Honolulu Board of Realtors
CLICK HERE to view the January 2022 housing report from the Honolulu Board of Realtors. The report outlines housing prices, inventory and sales statistics.
Estate Report with economist Paul Brewbaker January 13th 2022
In depth look at the economics shaping Hawaii's real estate market with top economist Paul Brewbaker. This in-depth discussion provides insight into the latest pricing trends. Presented by Luxury Homes International. INSERT HERE
2021 Year End Housing Report from Honolulu Board of Realtors
CLICK HERE to view the 2021 year end housing report release 1/6/21 from the Honolulu Board of Realtors. The report outlines housing prices, inventory and sales statistics.
Real Estate Report with Paul Brewbaker December 2021
In depth look at the economics shaping Hawaii's real estate market with top economist Paul Brewbaker. This in-depth discussion provides insight into the latest pricing trends. Presented by Luxury Homes International.
November 2021 Real Estate Report - Honolulu Board of Realtors
Monthly housing report released by the Honolulu Board of Realtors outlines, prices, closed sales, and sales pace for the single-family home and condominium markets. CLICK HERE to see the full report.
Real Estate Report with Paul Brewbaker November 2021
In depth look at the micro and macro economics shaping Hawaii's real estate market with top economist Paul Brewbaker. This in depth discussion provides insight into the current real estate market and projections into the next year. Presented by Luxury Homes International.
Real Estate Report with Paul Brewbaker Oct 2021
In depth look at the micro and macro economics shaping Hawaii's real estate market with top economist Paul Brewbaker. This in depth discussion provides insight into the current real estate market and projections into the next year. Presented by Luxury Homes International.
Real Estate Report with Paul Brewbaker Sept 2021
In depth look at the micro and macro economics shaping Hawaii's real estate market with top economist Paul Brewbaker. This in depth discussion provides insight into the current real estate market and projections into the next year. Presented by Luxury Homes International.
Hawaii Mid Year Real Estate Review with Economist Paul Brewbaker 2021
In depth look at the micro and macro economics shaping Hawaii's real estate market with top economist Paul Brewbaker. This in depth discussion provides insight into the current real estate market and projections into the next year. Hosted by Luxury Homes International with a special thank you to the sponsors: Howard Hughes, Title Guaranty, Guaranteed Rate & the Hawaii International Real Estate Council.
Hawaii Mid Year Real Estate Review with Paul Brewbaker 2021
In depth look at the micro and macro economics shaping Hawaii's real estate market with top economist Paul Brewbaker. This in depth discussion provides insight into the current real estate market and projections into the next year. Hosted by Luxury Homes International with a special thank you to the sponsors: Howard Hughes, Title Guaranty, Guaranteed Rate & the Hawaii International Real Estate Council.
Luxury Homes International ranked Top 25 Real Estate Companies in all 4 categories
Luxury Homes International congratulations all of our agents in appearing in all 4 categories of Top Real Estate Companies in Hawaii according to Pacific Business News including postings from 2006 to present:
TOP 25 LARGEST REAL ESTATE COMPANIES
TOP 25 HIGHEST RESIDENTIAL SALES
TOP 25 HIGHEST COMMERCIAL SALES
TOP 25 HIGHEST LAND SALES
Immigration & Real Estate with attorneys David Garfield & Grace Magruder
Learn about the important immigration policies that affect foreign nationals doing business and purchasing real estate in the US and Hawaii.This webinar will provide a general overview of the important immigrant and non-immigrant visas that are available including visas for business, education, science, research, arts and more.Learn about the potential paths to citizenship and how this affects the real estate industry.Does buying property in the US provide any visa or immigration benefits?Does owning a business in Hawaii provide any visa or immigration benefits?Find out at this informative webinar presented by the Hawaii International Real Estate Council.
HONOLULU MARKET REPORT: CONDO SALES UP 135% & HOME SALES UP 63%!
Condo sales roared back to life last month after stagnating for almost one year. Year over year monthly closed sales jumped 135% for condos and up 63% for homes!! Year to date closed sales are up 59% for condos and 29% for homes. YTD median sales price is up a modest 5.8% for condos at $457,750 and up 18.5% for homes at $978,000. Active listings for sale declined 23.3% and 39.6% for condos & homes respectively. Days on market (DOM) for condos dropped to 12 days compared to 23 days last year. DOM hit another record at only 8 days to sell a home
Honolulu Market Property Update April 2021
HONOLULU MARKET REPORT: ANOTHER RECORD HIGH FOR HOMES!!
For the third consecutive month, Honolulu home sales posted another all-time price high of $950,000 surpassing the previous records of $917,500 in February and $883,000 in January.
DOM tied the all-time record at only 9 days to sell a home, down 65% from last year's 26 days. Inventory dropped 38.7% compared to last year to only 752 homes for sale on Oahu while YTD closed sales increased 11.9%. Condo prices increased 5.8% YTD to $451,000 down from last month's $457,500. Condo inventory dropped 17.3% while closed sales increased 52.7% compared to last year. Selling time for a condo was 14 days down from 18 days last month. 50% of homes and 29% of condos sold above the asking price in the first quarter. Single family homes sold for more than $1.5 Million increased 113% this month while homes sold under $800,000 decreased 36.1%. Months of remaining inventory remains low at 1.3 for homes indicative of a strong seller's market while posting 2.9 for condos, edging to a seller's market.
Honolulu Hawaii Annual Property Report for 2020
HONOLULU MARKET UPDATE: ANNUAL REPORT 2020
As we usher in the new year, I want to first wish you and your family great health, happiness and prosperity in 2021!
Despite the pandemic, the Honolulu real estate market remained strong throughout the year and posted a very strong December. Home sales increased 35.9% this month with pending sales up 45%! Inventory plummeted 33% to only 770 homes for sale. YTD closed sales were up 2.3% with prices up 5.2%.
Condos also posted gains in December with closed sales up 20% & prices up 6.9%. YTD sales were down 13% with prices up 2.4%. Active listings dropped 7.4% to 1,938 condos for sale.
The median selling time was only 10 days for homes & 19 days for condos. In the fourth quarter 45% of homes & 23% of condos were sold over the asking price.
Months of remaining inventory remains low at 1.4 for homes indicative of a seller's market while posting 3.3 for condos, closer to market equilibrium.
Taxation & Important Issues for Foreign Buyers & Sellers 8-4-20
The Hawaii International Real Estate Council hosted this webinar with Cades Schutte Tax Attorney Ryan Wilson and CPS Brad Konishi. The event was sponsored by Guaranteed Rate mortgage. The presentation covers issues for foreign buyers and sellers in Hawaii including taxation, corporate ownership, estate planning, Harpta, Firpta and much more.
Data released from the Honolulu Board of Realtors shows strong home sales & tempered condo sales. Pending Home sales are UP 16.9% with Condo sales DOWN 9.8%.YTD Closed sales are down 4.5% for homes & down 21.2% for condos. Prices remain stable with YTD median prices up 0.6% for homes & up 1.2% for condos.
Median Days on Market for homes set a new record low at 13 days to sell a home!Condos took 26 days to sell, unchanged from last month.Months of remaining inventory (MRI) hit another low at 2.4 for homes indicative of a seller's market.MRI remained at 4.1 for condos indicative of market equilibrium.
The strong home sales are attributed to historic low interest rates and continued lack of supply.Mortgage rates for 30-year fixed loans averaged 3.10% with VA rates at 2.75%.economy of Hawaii.
COVID-19 Webinar with Paul Brewbaker 3-18-20
The Honolulu Board of Realtors hosted a webinar with economist Paul Brewbaker discussing the impacts of the COVID-19 virus on the real estate market and economy of Hawaii.
Mid Year Real Estate Review with Paul Brewbaker 2019
Luxury Homes International hosted the 11th annual Mid-Year Real Estate Review with Paul Brewbaker this week in Honolulu Hawaii. The event was held at Waialae Country Club, the home of the Sony Open PGA Golf Tournament. The event was sponsored by Howard Hughes, Old Republic Escrow, Luxury Homes International, Guaranteed Rate, Honolulu Property Management, Hawaii International Real Estate Council, Inspect Hawaii and DR Horton Schuller Homes.
Economist Paul Brewbaker provided an in depth study of the macro and micro economic trends affecting Hawaii.
Honolulu real estate report 2019: Inventory up - Sales down - Prices flat.
The Honolulu real estate market continues the shift to a healthy balance of inventory and sales according to the newest data. Year to date inventory is up 15% and 9% for homes & condos. YTD closed sales are down 3% and 14% respectively. Monthly median price is up 2.1% for homes and up 1.5% for condos.
Months of remaining inventory jumped 60% to 3.2 for homes which is historically low and still indicative of a seller's market.
This is year 10 of the property price expansion (longest in history). From the low of $575,000 in 2009 to the current home price of $789,000.
New Record Price Highs - Annual Honolulu Real Estate Report 2018
The annual median price for Honolulu homes and condos posted all-time record highs of $790,000 and $420,000 to end 2018. The annual number of sales dropped 7.7% to 3,609 for homes and 2.5% to 5,679 for condos. Inventory increased 17.3% for homes and 12.9% for condos. Despite the increased inventory, months of remaining inventory ended the year at 2.9 and 2.8 respectively still indicative of a seller's market. This is the 9th year of price expansion; the longest in history. From the low of $575,000 in 2009, the current price of $790,000 represents an increase of 37%. In comparison, the past two cycles posted price increases of 136% and 122%.
Information from the Honolulu Board of Realtors Monthly Indicators Report.
Honolulu Real Estate Market Statistics - March 2018
Honolulu condo prices gained 8.8% this month with year to date prices up 9%. The median price for single family homes increased 1.1% this month and 2% year to date. Inventory decreased resulting in the very tight 2.1 & 2.6 months of remaining inventory for homes and condos respectively.
The selling time for properties on Oahu remains historically low at 14 days for homes and 16 days for condos.
Honolulu Real Estate Report - January 2018
The Honolulu property market posted a new all-time median price high for condos at $430,000, up 13.2% from last year. The median price for homes was up 5.7% to $772,000. The number of closed sales were down 1.1% for condos and up 2% for homes. Listing inventory increased 11.6% for condos and decreased 3.1% for homes.
Honolulu Real Estate Report - November 2017
Hawaii Property Tax Rates
This report shows the Hawaii tax rates for residential, residential A commercial and other property categories. Click Here For Full Report.
Hawaii Real Estate Prices Continue to Grow
Honolulu real estate prices continue to rise with small but steady growth. Prices increased 2.8% and 3.9% year to date for homes and condos respectively. Median home prices hit $712,000 with average prices at $871,000. Condo median prices were $415,500 with average prices at $463,000. Months of remaining inventory remain historically low at 2.5 for homes and 2.7 for condos.
Waiea at Ward Village Welcomes New Owners
The newest high-end condo developed by Howard Hughes in Kakaako is complete and the new owners have moved in. Prices for the 171 condo units originally started from $1,300,000. Several re-sales are now available starting at
$1,990,000 for a 1 bedroom 2 bath of 1,138 square feet. The 5 bedroom / 6 bath Grand Penthouse is available for only $36 Million! For a private showing, contact Patrick W ONeill R PB at Luxury Homes International.
Waikiki Real Estate Continues to Climb
Median condo prices in Waikiki have continued the moderate increases posting 3% gains to $385,000 according to the Honolulu Board of Realtors latest market report. Inventory dropped slightly to 417 condos for sale, down 3% compared to last year. The average days on market dropped to 37 days. The number of sales increased 13% to 260 year to date. Patrick W ONeill R PB Luxury Homes International.
Honolulu Home Prices hit $936,000!
The Honolulu housing market remains strong with average home prices up 4.2% to $936,331 and condos up slightly to $465,399. Months of remaining inventory (supply versus demand) sits at 2.7 for both homes and condos indicating continued low supply and high demand in the market. Click Here for Full Report
Kitchen Countertop Triage: First Aid for Scratches
You can repair kitchen counter mishaps with only a little time and money. Big boo-boos, however, will need professional help.
Repair kitchen counters that show a history of wine spills, dropped pans, and unidentified sharp objects, and you’ll maintain the value of your kitchen and home. You can easily hide some counter mishaps, while only professional contractors can solve other surface problems.
Here’s a look at counter cures and lost causes.
Granite
Even granite counters suffer kitchen wear and tear. But you can make them shine with a little time and know-how. After you fix them, don’t forget to reseal them.
Cracks, chips, scratches: Fill nicks in granite by building up layers of epoxy resin colored to match the stone. Clean the area first with acetone, which breaks down grease. Be sure to open a window for ventilation.
Stains: The type of stain -- wine or ink, oil or bleach -- determines the type of poultice you’ll need to suck it out. A paste of flour and hydrogen peroxide pulls out grease, oil, bleach, and ink stains; a mix of flour and bleach cleans wine stains. If you want to go commercial, check out Alpha, Aqua Mix, and StoneTech stone cleaners. Cost: $6 to $20.
Related: Can Granite Film Fool the Eye?
Solid-Surface Counters
Solid-surface countertops, such as Corian, are man-made from resin, acrylic, and other materials. They’re tough but not impervious to scratches and stains. To repair minor scratches, rub a white polishing compound on the area with a wool pad, then apply a countertop wax.
For deeper scratches or cuts, call a professional. Figure labor costs at about $15 to $35 an hour. If you need to replace portions of the counter, figure at least $35 to $65 per square foot.
Laminate
Fixing gouges or covering burns in laminate is tough for mortals, though repairing minor problems is doable.
Fix small chips with laminate repair paste that matches the color of the countertop.
Cover scratches with countertop polish or car wax.
Fix peeling laminate with contact cement applied to both surfaces and pressed back into place.
Remove coffee and tea stains with vinegar or a paste of baking soda and household cleaner.
Bigger problems will require replacing the damaged stretch. Laminate comes in a billion colors, but finding an exact match for an old counter could be difficult.
To get the look you want, replace the counter. Labor will cost $15 to $35 per hour; countertops range from $3 per linear foot for Plain Jane straight-edged laminates to $100 per linear foot for laminates with a beveled edge that look like granite.
Related: Why Laminate Countertops Deserve a Second Look
Tile
If you’ve planned ahead and stockpiled old tiles, then grab a few and replace cracked or scratched areas. If you don’t have extra tile, then attempt the following first aid:
Wipe away scratches with a dab of toothpaste on a clean cloth.
Work epoxy glue into cracks with a toothpick, then color with matching oil-based artist paint.
Remove old grout with a utility knife, then replace with a rubber trowel.
Stainless Steel
Stainless steel countertops become scratched, stained, and dull over time. Although you’ll never completely remove scratches, you can buff them into a warm patina by massaging with vegetable oil.
Remove stains with a paste of baking soda and dish soap. A sprinkle of Barkeeper’s Friend will remove stains without scratching.
Related: 99-Cent Store Solution for Scuffed Countertops
Honolulu Real Estate Market in upward swing with home prices up 7.9% in February.
The latest real estate data from the Honolulu Board of Realtors reports single family median prices up 7.9% to $755,000 and condos up 1.7% to $385,000. Months of remaining inventory (supply versus demand) hit all time lows of 2.3 and 2.4 months for homes and condos respectively. Contact us for a copy of the full report.
Honolulu Condo sales jump 11.8% in January.
The number of sold condos in Honolulu jumped 11.8% this past month! Single family sales increased 6.5%. Median prices remained flat with average prices up 8.4% and 7.1% for condo and homes respectively.
Hawaii Home Average Prices Up 7.1% January 2017
January 2017 statistics from the Honolulu Board of Realtors show single family home average prices in Honolulu were up 7.1% for the year and condos up 8.4%. The number of closed sales was up 11.5 and 6.5% for condos and homes respectively.
Immigration Visas beyond EB5 - Attorney David Garfield | International Real Estate Council
The Hawaii International Real Estate Council hosted the first general membership meeting this week at the Pacific Club in Honolulu, Hawaii. The featured speaker was immigration attorney David Garfield of the Garfield Law Offices in Washington DC and Honolulu. The event was sponsored by Howard Hughes Corp, DR Horton Schuller Homes, Honolulu Home Loans and Old Republic Title & Escrow. Special lunchtime speaker was Feng Shui Grand Master Clarence Lau.
David Garfield outlined the popular immigration visas used by high net worth individuals gaining access to US Markets with special focus on E-1, E-2, L-1A, EB-2 and F-1. These visas are easier to obtain for qualified applicants and do not entail the risk of the EB-5 offerings. To see the entire presentation, Click Here.
Hawaii Condo Prices End the Year Up 8.3%
The year end statistics from the Honolulu Board of Realtors show single family home prices in Honolulu were up 5% for the year and condos up 8.3%. The number of closed sales was up 8.4 and 6.5% for condos and homes respectively.
According to a recent Pacific Business News article, several Hong Kong and China based firms have invested Billions into the Hawaii Market. China Oceanwide Holdings LTD has joined Qinghua International Holdings and Reignwood International along with several other firms investing in numerous development projects through Oahu and the state.
Honolulu condos and homes continue to increase in price with single family homes up 5.2% and condos up 8.7% year to date according to the latest property report from the Honolulu Board of Realtors. The number of sales was up 4.8% and 9% for homes and condos respectively.
The Honolulu property market continues to heat up with an under-supply of inventory leading to increased pricing and record fast selling time. Currently the median time to sell a condo is just 15 days and only 16 days for a home! Median price is up 12.4% and 6.9% for condos and homes respectively.
Thank you to those that attended the breakfast presentation at the new Park Lane condo at Ala Moana. Quick point updates for the project: 1. Of the 217 total units, 80% are sold; 2. The lowest priced unit currently available is a 2 bedroom at $2.1 Million; 3. The highest priced unit sold so far was a penthouse at $21.5 Million; the first deliveries will begin in the Spring of 2017. For more information contact Luxury Homes International (808) 797 4433.
International Real Estate Council - IRS Reporting Requirements for Foreign Assets
The Hawaii international Real estate Council hosted attorney Mike Garcia of Ashford and Wriston Law firm to discuss the newest IRS reporting requirement for foreign assets. The event was sponsored by Honolulu Home Loans and DR Horton Schuller Homes. The moderator was Patrick W ONeill of Luxury Homes International. Some of the basic points:
Who must report: US Citizens, US Green Card Holders, US Residents (Anyone spending over 180 days in the US)
What needs to be reported: Assets in excess of US$10,000. Includes all combined assets and those owned by entities with signatory rights
Penalties for not reporting can include 5 years in prison and forfeiture of the assets
The IRS now has open access and real-time reporting from most foreign banks including those in Hong Kong, Japan, Korea, South America and Europe
There are many complicated rules and regulations relating to the above. The above is not meant to be legal advice but an over-simplified layman’s summary of few points.
Read more about reporting and the FBAR regulations by Clicking Here
Honolulu Real Estate Report and Statistics - August 2016
The Honolulu property market posted a nearly 6.4% increase in the number of homes sold so far this year compared to 2015. The number of condo sold during year to date is up 8.9% to 3,140 YTD. The median sale price of home this month is $730,000 a year to date increasing of 5.8%. Condominiums are up 7.2% to $400,000.
Honolulu Real Estate Report and Statistics - May 2016
The Honolulu property market posted a nearly 9.8% increase in the number of homes sold so far this year compared to 2015. The number of condo sold during year to date is up 11% to 2,090 YTD. The median sale price of home this month is $720,000 a year to date increasing of 5.4%. Condominiums are up 4.1% to $373,000.
Honolulu Real Estate Report and Statistics - April 2016
The Honolulu property market posted a nearly 12% increase in the number of homes sold so far this year compared to 2015. The number of condo sold during year to date is up 12.6% to 1,613 YTD. The median sale price of home this month is $720,000 a year to date increasing of 6.7%. Condominiums are up 4.1% to $389,500.
Taxation, Ownership and Selling of Real Estate for Japanese Investors
At the recent event hosted by the Hawaii International Real Estate Council, attorney Shimpei Oki and Accountant CPA Testsuko Ho explored the issues facing Japanese buyers and sellers of real estate in Hawaii. The event held at Waialae Country Club covered taxation, estate planning, immigration and other property related topics. To view the presentations, click on the links below. Thank you to sponsors Howard Hughes Development, Fidelity National Title & Escrow, Honolulu Home Loans. Thank you to attorney Shimpei Oki of Goodsill Anderson Quinn & Stifel and Testuko Ho CPA.
Honolulu Real Estate Report and Statistics - March 2016
The Honolulu real estate market continued to post steady growth during the past 12 months with median prices increasing to $725,000 and $385,000 for single family homes and condominiums respectively. Average prices hit high points of $898,500 for single family and $457,000 for condos.