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Another landmark restaurant in Honolulu closed its doors on December 9, 2011. My wife heard about the pending closure the day before and we had breakfast at Victoria Inn that Sunday. Coincidentally, it was the same day as the Honolulu Marathon. We didn't run in the marathon this year but we did think about all those runners as we ate our breakfast! On this last day of business, the place was packed. There was little notice, just a couple of days beforehand the newspapers mentioned that Victor... Read Full Post

We've been sitting on several short sales for many months. Suddenly, we're getting bank approvals on them - three in the last week! The Ilikai - Our offer on an ocean view unit written in July was approved and we're closing on it next week. Very fast, we have less than two weeks to clear all the contingencies. Obviously this requires a cash purchase. Ala Moana Hotel Condo - I'm representing the sellers and we received an offer in late September. It was approved this week and the seller's bank... Read Full Post

Last year the owner of a townhome at Ocean Pointe contacted me about selling. He was military, bought in 2005 and very much upside-down in value. He bought his Ke Aina Kai two bedroom plus den, two and a half bath townhome with a two car garage for $425,000 six years ago. By 2010 it was worth about $275,000. Luckily, the owner met the requirements to get a HAP Sale. What's a HAP Sale? Basically, the Federal government covers the shortfall between what the seller owes and the current market va... Read Full Post

The owners are putting the finishing touches on this house and we'll have it on MLS soon. This house was built in 1988 and has three bedrooms, a den and three baths. Interior size is approximately 1,500 square feet and the lot size is over 6,000 square feet. The house has a two car garage and enough space to park up to four extra vehicles. Nice upgrades include new paint inside and out, new carpet, new window blinds and new appliances. The owner added a rock wall on the lower side of the prop... Read Full Post

Today we closed a sale at the Makaha Beach Cabanas and this time getting financing was more difficult than expected. Sure, we've all heard banks are adding more requirements to get loans today. The problem we ran into with this Cabanas purchase was different. The buyer was well qualified with a large down payment. The problem came when the underwriter did some searching on the internet. You see, residential condos are generally not legal for short term rentals, defined as less than 30 days. C... Read Full Post

This restaurant in Moiliili has been our favorite Thai place for about a year now. Sabai Dee Thai Restaurant is on King Street, heading east just past University Avenue. Validated parking is available at University Square, right at the corner of King and University. Sabai Dee Thai has a great selection of authentic Thai food. The owner, Lisa is pictured below delivering a vegetable dish and a satay chicken chicken appetizer (skewered chicken, marinated and served with peanut sauce). If you ha... Read Full Post

For regular visitors of Realestatewebmasters blogs the title of this post may seem familiar. That's because Hawaii had a tsunami warning in February 2010, just over a year ago. We hope tsunami warnings will not become an annual event here. Last night I received a text around 9 p.m. from a relative, asking if a Tsunami warning had been issued. We turned the TV on and saw the devastation in Japan from the 8.9 magnitude earthquake. The videos were amazing. The looked like something out of a disa... Read Full Post

Hawaii remains a popular place, not just to visit but for residency too. The 2010 census reported 1,360,301 people living in Hawaii. Okay, not quite 1.4 million, however if we consider the amount of visitors here on any given day, military etc. there are more than 1.4 million people in the islands. In the last decade Hawaii's population increased by 8.8 percent. The county with the largest increase was the Big Island, with 24.5 percent more people, bringing its population to 185,079. Maui Cou... Read Full Post

VA loan limits for Hawaii are increased to $741,250 for 2011. This is for 100% financing with no cash down on a home purchase. The VA funding fee can be financed as part of the $741,250. No Private Mortgage Insurance (PMI) required, the VA guarantees 25% of the home's appraised value, thus eliminating PMI. In some instances disabled veterans are exempt from the VA funding fee. If a service member is overseas, his/her spouse can satisfy the occupancy requirements. VA loans can sometimes be str... Read Full Post

The City and County of Honolulu has been sending out the new tax assessments for about a week now. Oahu property owners, did you get your assessment yet? If you haven't, a quick way to check is to visit the Honolulu Property Tax site here. Next, click the "Property Search" tab and then input your street address and street name. A list will appear - if you own a single family detached home, your property may be the only one that appears on the list. If you own an attached home, townhome or con... Read Full Post