David's Real Estate Blog | Dispatches from Diamond Head

Latest real estate news and articles from David E. Buck, Realtor-Broker

May 29, 2017

Historic Nuuanu Home Reduced $150,000

Last year, I had the opportunity to sell one of the most iconic Historic Homes in Nuuanu - The Marks Estate. The new Buyer has plans in store and in the meantime secured a lease from a major movie production company. Although that one is gone, here's another opportunity for a historic home in Nuuanu.

2712 Old Pali Road

2712 Pali Hwy (MLS # 201621795) is listed for $1,845,000

A few days ago the price was reduced $150,000 from $1,995,000 to $1,845,000. The improvements are roughly have that of the Marks Estate and the land is a fraction. However, it is still "large" compared to your typical Honolulu home boast over a half acre. It was also built in 1908, so it preceded the Marks estate by roughly 20 years. Considering the age, it does have a lot of its historic charm and good bones intact.

Nuuanu Entry and StairwayNuuanu Living Room and Fireplace

Grand Stairway and Living Room with Fireplace

Nuuanu DiningNuuanu Top of Stairway

Dining Room and Top of Stairway

The home is a replica of a home in Chicago and it was poured concrete to look like bricks. It also looks like the bluestone used and seen in a lot of historic buildings around Honolulu.

Nuuanu Concrete ExteriorNuuanu Exterior

Poured concrete exterior meant to look like brick

These types of homes don't come up often and now is a great opportunity to live in such a solidly built home.... If historic homes are your thing, feel free to contact me for more information on this or other historic homes on Oahu.

April 11, 2017

Mahalo for Your Business in 2016

As we've been working on our taxes from last year, I just wanted to take the time to reflect on 2016....

Thank you for our success in Real Estate. We could not have done it without you!

 January 20 Kalama ValleyJanuary 22 Ocean PointeFebruary 9 MakahaMarch 21 Uraku TowerApril 15 Makaha Valley TowersMay 18 Hokulani in KailuaMay 18 MokapuMay 20 KoolaniMay 31 Ala Mona HotelJune 2 Kuapa Isle SellerJune 2 Kuapa Isle BuyerJune 14 Symphony PenthouseJuly 1 Kaioo TerraceJuly 1 IlikaiJuly 22 Niihau ApartmentsAugust 12 Waiholo BuyerAugust 12 Waiholo BuyerAugust 29 MoloaaSept 28 NanamoanaOctober 18 Old Pali RoadOctober 31 KapoleiNovember 16 KuliououDecember 2 HoakaleiDecember 7 Collection Ala MoanaDecember 21 St. Louis Heights

 

Each one of the photos above represent the wonderful Buyers and Sellers we were able to work with and successfully purchase or sell in 2016. THANK YOU for contributing to our success in Real Estate!

We are very appreciative for our great clients and network of friends and colleagues who have done business with us and referred our services to others.  As a result, our business continues to grow!

April 8, 2017

Upgraded Ossipoff Home for Sale on Waialae Nui Ridge

Waialae Nui Ridge is a neighborhood in east Honolulu where you can find quite a few of Vladimir Ossipoff's works. Although his homes are getting hard to come by, you can almost bank on one hitting the market on Waialae Nui Ridge every year or two.

Waialae Nui Ossipoff Home framing Diamond Head

Diamond Head views perfectly framed: Ossipoff Home (MLS # 201706881) on Waialae Nui Ridge

Built in 1964, the homeowner remodeled 50 years later in 2014. I typically love the original homes much better than those that are remodeled due to bad taste and killing the original style. However this owner seems to have done a great job blending "Mid-Century Modern" with today's "Modern". Both the kitchen and bathroom remodels kept with the original sleek lines and use of hardwoods and solid surfaces.

1778 Halekoa Kitchen 11778 Halekoa Kitchen 2

Kitchen remodel

Wailae Nui Bath Remodel 1Waialae Nui Bath Remodel 2

Bathroom Remodels

There were also some incredible views of Diamond Head from the expansive outdoor deck. Ossipoff was known for his use of the indoor/outdoor space.

Diamond Head View from Deck

1778 Halekoa Deck 11778 Halekoa Deck 2

Enjoy the expansive decks for entertaining and indoor/outdoor living...

Given the location, architecture and condition of this home, I'm assuming it will sell pretty quick! To learn more about Ossipoff and other Mid-Century Modern Homes on Oahu, feel free to bookmark my Mid-Century Modern page for the latest up to date listings.

March 25, 2017

Alfred Preis Home for Sale in Manoa's Woodlawn Neighborhood

It's been about a year and a half since an Alfred Preis home hit the market on Oahu. The last one was on Melemele Place in Manoa, which is a street you can find a nice concentration of his works. This newer listing is on Woodlawn Drive.

Alfred Preis Home at 3612 Woodlawn Drive

Front entry to Preis home (MLS # 201705766) on Woodlawn Dr. in Manoa

Although the home went through a remodel in 2001, there are lots of features that were unique to his architecture that can easily noticed. Since I live in a Preis home and have seen a number of his works re-listed over the years, here are some of the traits I noticed:

Preis stained wood paneling and open bean ceiling

Stained wood paneling, open beam ceilings and great use of natural light and airflow

Preis built-in shelving and drawers

Built in shelving and drawers

Turquoise Kitchen CounterTurquoise Counter Bathroom Sink

Use of Turquoise countertops on hard surfaces above cabinets - seen here in Kitchen and Bathroom

My guess is this one will go pretty quick, knowing the demand for these Alfred Preis homes (and Manoa homes in general). To keep up to date on Mid-Century Modern Homes on Oahu, feel free to bookmark my Mid-Century Modern Page, where I curate the latest Mid-Century Modern homes for sale.

Contact a Mid-Century Modern Expert

I'm also available to chat for a no-obligation consultation about a purchase or sale of one of these special properties and can be reached at 808-371-3509. 

March 20, 2017

February Hits 2nd Highest Median Home Price on Record

The median sales price for a single family home on Oahu in February was the 2nd highest on record.

February 2017 Housing Statistics on Oahu

Singel Family Home Stats

Ocean Pointe Home for $753,900

This Ocean Pointe home (MLS # 201702637) is listed just under February's median price

February was another great month for Sellers on Oahu as the median sales price hit $755,000, which was a 7.9% increase over February of 2016. The highest on record was June of last year that hit $760,000. Homes were also selling fast with just 21 days on market and active listing inventory down 9.5% from last year.

Condo Stats

Leasehold Waikiki Condo for $385,000

Leasehold Waikiki Condo (MLS # 201627511) currently listed for February's $385,000 median price

Meanwhile, the median condo price was up 1.7% from last year, however still was still over $20,000 under June's record of $405,500. The number of transactions however took a nice bump of 11.7% to finish off the month with 362 closed sales. Median days on market was also favorable to Sellers with just 22 days. In addition, active listings were down 8.4%.

As always, all real estate is local. Here are the neighborhoods on Oahu that were hot for sellers and buyers in February:

Neighborhoods “Hot” for Sellers

  • Home sales in Waialae-Kahala were up 140%
  • Home prices in Aina Haina-Kuliouou were up 62%
  • Condo sales in Diamond Head-Kapahulu* and the Windward Coast were up 100%
  • Condo prices in Kalihi-Palama were up 82%

Neighborhoods “Hot” for Buyers

  • Home sales on the North Shore and the Windward Coast were down 60%
  • Home prices in Moanalua-Salt Lake were down 22%
  • Condo sales in Kalihi-Palama were down 40
  • Condo prices n Diamond Head-Kapahulu were down 52%*

What’s Happening in Your Neighborhood?

Please consider these are broad overviews for regions on Oahu. To find out what is happening in your specific neighborhood (or street for that matter), feel free to contact me for more information.

* Only 30% of the sales in the Diamond Head-Kapahulu region were in the Gold Coast area of Diamond Head this year vs. 75% last year

Feb. 21, 2017

January Homes Prices Flat and Transaction Volume up on Oahu

2017 got off to a sluggish start as prices remained stagnant for both single family homes and condos. Transaction volume on the other hand had a significant bump from January of 2016.

January 2017 Sales Stats on Oahu

Single Family Home Stats

Kalihi Valley Home for $729,000

This home in Kalihi Valley (MLS # 201702779) is listed just under January's median for $730,000

The median sales price was down .5% from last year where it was $733,500. Sales volume was up 6.5% with 247 closed sales. It was still a Seller's Market with days on market. Last year was at 20 days and this year was still great with the median time just 21 days. There's also 5% less inventory than there was last year, which is showing great absorption of homes listed for sale.

Condo Stats

Punchbowl Condo for $380,000

Punchbowli Condo (MLS # 201702077) listed for January's median of $380,000

While single family home prices were down slightly the median condo price was just barely up 1.5% from last year's $374,500. Two stats that really stood out at me were:

1. Median Days on Market jumped 30% from 20 to 26 days

2. Active Listings were down 7.3% from last year

As always, all real estate is local. Here are the neighborhoods on Oahu that were hot for sellers and buyers in January:

Neighborhoods “Hot” for Sellers

  • Home sales on the North Shore were up 250%
  • Home prices in Aina Haina-Kuliouou were up 41%
  • Condo sales in Makakilo were up 171%
  • Condo prices in Kalihi-Palama were up 82%

Neighborhoods “Hot” for Buyers

  • Home sales in Moanalua-Salt Lake were down 67%
  • Home prices in Downtown-Nuuanu were down 23%
  • Condo sales on the North Shore were down 67%
  • Condo prices on the Windward Coast were down 73%

What’s Happening in Your Neighborhood?

Please consider these are broad overviews for regions on Oahu. To find out what is happening in your specific neighborhood (or street for that matter), feel free to contact me for more information.

Jan. 13, 2017

2017 PGA Sony Open: Waialae Golf Course Homes for Sale

The 2017 Sony Open is in full swing this week on Oahu. Some of the PGA's best are taking to the course and having some great early rounds with the light wind conditions. As every year the players come and go, so do the homes for sale fronting the esteemed Waialae Golf Course.

This year there are 6 listings that front the course in the 3 surrounding MLS neighborhoods of Kahala, Kai Nani and Waialae Golf Course that range from just over $2 million to just under $6 million:

4509 Waikui St.

1. 4509 Waikui St. (MLS # 201627362) in Waialae Golf Course is listed for $2,285,000

This home on Waikui St. is the most reasonably priced listing for sale. Although on a quiet cul de sac, it also backs up to Kalanianaole Hwy., which is why it is heavily discounted for a home fronting Waialae Golf Course. Originally listed for $2,450,000 the Seller has definitely shown signs of motivation with 3 price reductions already since coming to market in November of 2016.

1057 Waiholo St.

2. 1057 Waiholo St. (MLS # 201521858) in Waialae Golf Course is listed for $3,450,000

This listing offers THE BEST location of all the active listings in my opinion. Facing slightly east, you get the morning sun and this is one of only two that has ocean views. This Seller is also motivated having come down significantly from an original price of $4,888,000 in 2015.

4817 Kaimoku Way

3. 4817 Kaimoku Way (MLS # 201612958) in Kai Nani is listed for $4,195,000

Built in 1970, this home had an incredible makeover in 2015 giving it a more modern/contemporary look. It's also the other one available that has some ocean view. The only downside to Kai Nani is you need to drive a little further on Kalanianaole Hwy. (from Kahala) to reach this one as it's the furthest listing to the east on the course. This Seller has also expressed motivation having come down from $4,995,000 from June of 2015

4631 Waipahee Place

4. 4631 Waipahee St. (MLS # 201612961) in Waialae Golf Course is listed for $4,780,000

This is my favorite home of all the ones on the market. Unfortunately, someone else has seen it as their favorite too as the Seller accepted an offer last week. In this business though, it's never over until it's over so we'll see how their escrow goes. Built in 2004, this home has been on and off the market for years (listed as high as $5,888,000) while I've been writing these articles and glad to see there was a Buyer and Seller that had a "meeting of the minds" on price and terms.

4952 Kahala Ave.

5. 4952 Kahala Ave. (MLS # 201700606) in Kahala is listed for $4,995,000

This is the latest golf course home fronting Waialae to hit the market - just a few days ago. It's the only one for sale in Kahala and offers a nice single level floor plan. Built in 1999, it's also the closest you'll find to the club house off Kahala Avenue.

951 Waiholo St.

6. 951 Waiholo St. (MLS # 201618648) in Waialae Golf Course is listed for $5,900,000

This home on the 11th fairway is the priciest home on the market listed just under 6 million. Built in 2007, it also offers a single level floor plan and has a semi-above ground pool. Since the Seller paid $5,663,000 in 2015 it's hard to say how much room is negotiable in the price with this one...

In any event, it'll be exciting to see what the next few days have to offer in the tournament. In the meantime, if you're interested in other golf course homes on Oahu at a more affordable price, here's a page of all the golf course frontage homes and condos on Oahu I put together or feel free to contact me if there's anything I can help with.

Dec. 30, 2016

Gold Coast at Diamond Head: 2016 Sales Recap

I went for a recent early morning workout and was impressed with all the Beautiful Christmas lights on the buildings at eh end of Kalakaua Ave. - an area often referred to as the "Gold Coast" As we head into 2017, I'd like to share with you some photos and a recap of what happened on Diamond Head's Gold Coast this year.

Christmas Lights along the Gold Coast

2987 Kalakaua Ave. Christmas Lights

2987 Kalakaua Ave.

Coral Strand and Diamond Head Beach Hotel

Coral Strand and Diamond Head Beach Hotel

Diamond Head Ambassador Christmas LIghts

Diamond Head Ambassador

Tropic Seas Building Info. and Listings for Sale

Tropic Seas

Outrigger Canoe Club Christmas Lights

Santa at the Outrigger Canoe Club

Market Recap

Let's start with all the Fee Simple transactions that took place this year (by building, then price):

2987 Kalakaua Ave.

  • #304 was a 1 bad, 1 bath that Sold for $742,000 on November 23, 2016
  • #305 was a 1 bad, 1 bath that Sold for $775,000 on November 10, 2016
  • #505 was a 2 bed, 2 bath that Sold for $1,300,000 on May2, 2016

Colony Surf

  • #206 was a studio that Sold for $675,000 on May 9, 2016
  • #1508 was a studio that Sold for $725,000 on October 3, 2016
  • #609 was a 1 bed, 1 bath that Sold for $935,000 on February 2, 2016
  • #709 was a 1 bed, 1 bath that Sold for $975,000 on February 18, 2016
  • #602 was a 1 bed, 1 bath that Sold for $1,500,000 on April 26, 2016
  • #1202 was a 1 bed, 1 bath that Sold for $1,580,000 on September 26, 2016
  • #1704 was a 1 bed, 1 bath that Sold for $1,700,000 on July 14, 2016
  • #1608/1609 were a 1 bed, 1 bath and studio combined that Sold for $1,725,000 on March 24, 2016
  • #301 was a 1 bed, 1 bath that Sold for $1,750,000 on December 16, 2016
  • #1104 was a 1 bed, 1 bath that Sold for $1,750,000 on April 21, 2016

Coral Strand

  • #703 was a 1 bed, 1 bath that Sold for $910,000 on April 4, 2016
  • #505 was a 1 bed, 1 bath that Sold for $1,040,000 on August 15, 2016
  • #601 was a 2 bed, 2 bath that Sold for $2,550,000 on September 8, 2016

Diamond Head Ambassador

  • #211 was a studio that Sold for $289,000 on November 30, 2016
  • #310 was a 1 bed, 1 bath that Sold for $375,000 on March 15, 2016
  • #407 was a 1 bed, 1 bath that Sold for $412,000 on March 31, 2016

Diamond Head Apartments

  • #306 was a 1 bed, 1 bath that Sold for $865,000 on March 1, 2016
  • #306 was a 1 bed, 1 bath that Sold for $949,000 on September 13, 2016
  • #403 was a 2 bed, 2 bath that Sold for $1,850,000 on March 28, 2016
  • #804 was a 2 bed, 2 bath that Sold for $2,495,000 on January 8, 2016

Kainalu

  • #8B/8C was a 3 bed, 4 bath that Sold for $4,675,000 on April 18, 2016

Tahitienne

  • #202 was a 1 bed, 1 bath that Sold for $975,000 on April 14, 2016

Tropic Seas

  • #1205 was a 1 bed, 1 bath that Sold for $925,000 on May 9, 2016

Now, here are the Leasehold sales for the year (by building and price):

Diamond Head Beach Hotel - Land Lease Expires in 2032

  • #104 was a studio that Sold for $94,500 on August 12, 2016
  • #105 was a studio that Sold for $96,000 on August 31, 2016
  • #303 was a studio that Sold for $107,000 on November 30, 2016
  • #103 was a studio that Sold for $120,000 on November 1, 2016
  • #405 was a studio that Sold for $160,000 on August 30, 2016
  • #1202 was a studio that Sold for $185,000 on May 9, 2016
  • #603 was a 1 bed, 1 bath that Sold for $199,000 on March 11, 2016
  • #904 was a studio that Sold for $205,000 on November 14, 2016
  • #1105 was a studio that Sold for $229,000 on April 18, 2016
  • #1002 was a 1 bed, 1 bath that Sold for $266,800 on July 1, 2016
  • #701 was a 2 bed, 1 bath that Sold for $375,000 on August 12, 2016
  • #801 was a 1 bed, 1 bath that Sold for $393,000 on March 31, 2016

Sans Souci - Land Lease Expires in 2024

  • #1204 was a 1 bed, 1 bath that Sold for $300,000 on February 1, 2016
  • #804 was a 1 bed, 1 bath that Sold for $325,000 on April 5, 2016
  • #503/504 was a combined 2 bed, 1.5 bath unit that Sold for $399,000 on March 23, 2016
  • #1101/1102 was a combined 1 bed, 2 bath unit that Sold for $717,000 on April 12, 2016

Takeaways

Overall, the bulk of the sales were 1 bed, 1 bath units which averaged $1,086,438 (some higher priced Colony Surf units pulled up the average) and the median was $962,000 for 1 bed, 1 bath units. 

The Kainalu Penthouse was by far the highest sale on the Gold Coast and set a new record - surpassing the 2011 sale of Diamond Head Apartments #303/304 combined unit for $4,473,300!

Dec. 20, 2016

Park Lane Condo Sales at Ala Moana

This past month, I had the opportunity to preview the construction progress at Park Lane with a select group of Realtors on Oahu.

Park Lane Phase 1 Units

Park Lane Tour - Phase 1 Units on the west gearing up for release in April, 2017

Driving down Ala Moana Blvd., one can't help but notice it recently coming together just prior to Christmas. Sales are expected to start closing this April, however here's a glimpse of what we got to see:

Access, Entry and Lobby

Park Lane Porte Cochere and Lobby Area

Lobby Area off Porte Cochere and Rendering

The main entry for Park Lane residents will be a ramp off Piikoii Ave. Taking the driveway to the top, you come to a grand driveway and porte cochere. There you will find the lobby, mail room and entry for guests. Once you're up top, you feel like you're in your own private oasis as the nearby high rises and shopping center don't seem as if they are just right there. The developer was also in the process of bringing in a ton of plants and trees for the entry way, common areas and walking path on the mauka side of the units referred to as "Park Lane".

Perks

Foodland Farms at Ala Moana

Foodland Farms at Ala Moana's new West Wing

Outside of Park Lane being one of the few/only condos in Honolulu that will allow you to BBQ on your lanai, you've got a brand new Foodland Farms out the back on the west end of Ala Moana Shopping Center. I've also been told they will be offering a delivery service to Park Lane residents as if the short stroll was too inconvenient.

Views

Ala Moana Beach and Park View from Park Lane 

Park Lane Unit Under Construction and Rendering of Finished Product

What was impressive about the space was the high ceilings, privacy at entry (not a huge common hallway like most condos), close access from parking and more impressive was how little noise was heard from Ala Moana Blvd.  Keep in mind, we were there on a week day as the Holidays were starting and you could barely hear the cars. The unit above is set back a bit from the road though, however what was impressive were the view channels it offered of the park and ocean.

Nearing the Finish Line

Park Lane Construction

Construction to the East

As I'd mentioned earlier, the first phase of owners will be moving in to the units on the west end (closest to Piikoi) in April. The releases will work their way down the lane to the last owners getting their keys most likely around August +/- for those closest to the Macy's end of the mall.

So far, roughly 86% of the units have been sold, so there's not a whole lot of inventory remaining. Here's some additional renderings of what the final product is expected to look like:

Park Lane Rendering Fronting Ala Moana

Park Lane Day Rendering

Park Lane Evening Rendering

To learn more about Park Lane and available inventory, feel free to contact me for more information.

Dec. 19, 2016

Median Condo Price on Oahu up 13.7% in November

November was another strong month for housing on Oahu. Both single family home and condo sales were up double digits for the month.

November 2016 Sales Stats on Oahu

Single Family Home Stats

Palolo Home for $750,000

This home in Palolo (MLS # 201628762) is listed for November's median price of $750,000

This was the 3rd time in 2016 where the median sales price reached $750,000 or above and was a 4.8% bump from $715,000 this time last year. The median days on market was only 17 days! 

Condos Stats

Waikiki Condo for $390,000

Waikiki Condo (MLS # 201626106) priced under November's median of $395,000

The condo market was on fire in November with the median sales price up 13.7% from last year to finish at $395,000. In addition, sales were up 17.6% from last year and Sellers were excited as the median days on market to sell was even lower than homes at just 15 days.

As always, all real estate is local. Here are the neighborhoods on Oahu that were hot for sellers and buyers in November:

Neighborhoods “Hot” for Sellers

  • Home sales in Downtown-Nuuanu were up 125%
  • Home prices in Waialae-Kahala were up 42%
  • Condo sales in Wahiawa were up 300%
  • Condo prices on the North Shore were up 83%

Neighborhoods “Hot” for Buyers

  • Home sales in Wahiawa and the Windward Coast were down 17%
  • Home prices in Aina Haina-Kuliouou were down 48%
  • Condo sales Moanalua-Salt Lake were down 13%
  • Condo prices in Kapahulu-Diamond Head were down 49%

What’s Happening in Your Neighborhood?

Please consider these are broad overviews for regions on Oahu. To find out what is happening in your specific neighborhood (or street for that matter), feel free to contact me for more information.