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Hawaii real estate news

Waialae Avenue Improvements near completion

mikey posted this 1 271 Views

The City and County of Honolulu has been working on Waialae Avenue for a couple of years and finally the work is nearly done! The stretch of road being repaired spans from around 18th Avenue to the corner of Waialae and Kapiolani Boulevard.  Some sections, near City Mill for example, have been rough for so long that we routinely plan other routes getting home to avoid the bumps and potholes.   SMOOTH PAVEMENT ON WAIALAE AT LAST This picture was taken in late May, 2...

Be Careful about Using MLS in your Website Address

mikey posted this 427 Views

My main real estate website had been OahuMLS.Net for eight years.  A few years after setting up the website, I had heard about some realtors in the mainland having problems with their local boards when using "MLS" in their URL.  No problems here - until recently. About six months ago the board notified me of a complaint.  I asked what I had to do and they said nothing, unless the complainant escalated it and went to the NAR (National Association of Realtors).  It seeme...

Hawaii flood zones

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With global warming becoming an increasing concern, it's important to know the risk of flooding in your neighborhood. On October 1st, 2013 flood insurance premiums increased in some areas.  Those zoned A and V experienced the most significant increases in annual premiums due to increased risk from being close to the ocean or in low lying areas. The State of Hawaii has this handy tool to determine which flood zone a land parcel (including buildings) is in. It's called the Hawaii Fl...

Ala Moana Hotel Condo - the investors are back

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Ala Moana Hotel went "condo" back in 2005 when the building was renovated and rooms were sold to investors.  In the first few years this hotel was a hot investment.  Then the U.S. economy collapsed and caused a domino effect of problems.  Tourism and hotel occupancy went down, reducing room revenues for owners.  Maintenance fees increased due to many factors, one of them being oil prices, which affects the cost for electricity on Oahu. By 2009, some owners were ups...

A shortage of homes for sale in Kapahulu

mikey posted this 678 Views

This afternoon we changed the status on our 3330 Wauke Street listing to Active Continue to Show (ACS).  The ACS Status means we have an offer and are still showing the home, just in case it falls out of escrow.  When we move further through the transaction and the buyers' loan is approved we will change the status to Pending and stop showing the home. After changing the status to ACS, I checked the current listings and noticed that all six homes for sale in Kapahulu are in ...

Makaha Valley Plantation - affordable townhomes on Oahu

mikey posted this 833 Views

Makaha Valley Plantation is located on the west side of Oahu.  This neighborhood is popular with retirees from the U.S. mainland and Canadian "snowbirds" looking for a warm place to stay during the winter. Makaha Valley is remote - it's about 40 miles away from Waikiki. Because Makaha is "away from it all",  prices here are much lower than they are on other parts of Oahu.  This creates a great opportunity for homebuyers on a budget who don't need to work or who are empl...

Oahu Real Estate - Buy, Sell or Hold?

mikey posted this 822 Views

Hawaii's home prices are increasing at a steady pace, up 13% in October compared with a year ago.  We are recovering from the recession and home prices nationwide are on the rise.  And interest rates remain low, currently around 3.25% for 30 year fixed rate mortgages. What's the best move?  For prospective homebuyers and investors, if you are ready, willing and able, I think it is time to buy.  Sure, a realtor is saying it's time to buy.  "It's a good time to buy" is the #1 cliche for rea...

Makaha Valley Towers update 2012

mikey posted this 4,380 Views

Oahu's real estate market is improving and you can see it at Makaha Valley Towers!  Inventory available for sale is down and prices are moving up.   In 2011 it was easy to get a studio or one bedroom for under $100,000.  As of today, the lowest priced Active listings are just over $100,000.  Some people might think they are too late to get a deal - I disagree!  Prices were much higher than they are now, during the last price peak.   Earlier this year I...

Is Craigslist still relevant for posting homes for sale?

mikey posted this 2 1,308 Views

I used to post listings on in the real estate section of Craigslist to sell Oahu properties.  Luckily, Oahu's real estate market has taken off and these days I spend more time working on transactions rather than advertising. When I have spare time I take a look at various websites including Craigslist to see what's new.  Craigslist Hawaii's real estate section seems to have 99% junk now.  Some realtors are posting multiple links with different titles attempting to driv...

Hawaii Kai home sales in May 2012

mikey posted this 934 Views

Hawaii Kai along with most of Oahu is seeing steady growth in real estate selling prices.  The world economy may still be wobbling, but around here we are seeing increasing demand for both high and low end properties. Taking a look at Hawaii Kai home sales in May 2012 and comparing them with May 2011, the change in median prices is an eye catcher.  Don't worry, if you are on a budget there are still plenty of houses for sale in Hawaii Kai for less than $1 million.  The ...