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!