Can you believe that home sales from Downtown-Nuuaanu were up 125? This is David Buck with Harcourts Island Real Estate and we're here to report on the local market update for July of 2024.

Local Neighborhood Report for Homes

Home sales in Downtown-Nuuanu were up 125%, going from 4 sales in July, 2023 to 9 this past month. Downtown - Nuuanu also saw the largest increase in median sales price, which was up 41%. Last year, the median price was $1,082,500 and this past month it was $1,525,000

Local Neighborhood Report for Condos

Condo Sales in Kalihi Palama saw the largest increase year over year, going from 6 to 11 sales, which was an 83% increase. The Windward Coast of Oahu saw the largest appreciation, which was up 128%. In July of 2023, the median sales price was only $169,000 and this past month it was at $385,000.

As we talk about every time, every market is local and specific. Every market is fluctuating. So, to find out what's happening in your particular neighborhood or condo project for that matter, feel free to reach out and give us a call @ 808-371-3509. Mahalo!

Aloha and Happy Wednesday! Today, we're going to cover another episode of We Need Inventory. This week we're going to be talking about the Anchorage in Hawaii Kai. 

Nothing for Sale in Hawaii Kai's Anchorage

The Anchorage in Hawaii Kai

For those of you that aren't as familiar with Anchorage, it's on the very back of Hawaii Kai Drive on Makaa Street. It runs primarily along the marina. It's a great neighborhood and a quiet street. You have homes both on the marina and off the marina. As of today, in MLS, there's not one home for sale in Anchorage. To be honest, there's only been one sale in the past 6 months. That was a non-waterfront property. Going back an entire year, there's only been one marinafront sale at the Anchorage, which was around $2.6 million, last year. So, there's pretty sparse inventory, which is why we cover these segments on We Need Inventory.

Nothing for Sale at Adjacent Kealakua Kai 

Kealaula Kai in Hawaii Kai

To compound things, with the lack of inventory right now at Anchorage, the sister neighborhood of Kealakua Kai (which is at the very end of Makaa Street - they are adjacent to each other), similarly, Kealaula Kai does not have one home for sale today on the market. Going back over the past year, there's been 4 transactions that took place in Kealaula Kai. 

Here we are and there's not one home for sale today in Anchorage, nor Kealaula Kai. I know there's buyers that are out there shopping for homes on the marina in Hawaii Kai. So, if you know someone that owns a home in Anchorage or Kealaula Kai, feel free to reach out and give us a shout @ 808-371-3509. Mahalo!

Can you believe that active inventory for condos on Oahu is up 61.8% from a year ago? This is David Buck with Harcourts Island Real Estate. Today, we're going to talk about the housing stats for July of 2024. First off, we're going to start off with some optimistic news on the single family home front. Then, we're going to dive into the condo stats.

Single Family Home Stats

First off in single family homes, we saw an increase in single family homes year over year, which was up 20.1%. A year ago, there were 224 home sales on Oahu in July. This past month we saw 269 (sales). Meanwhile, the median sales price for a single family home on Oahu was actually up 4.6%. A year ago, that was at $1,090,000. This past month, we were at $1,140,000. So, that's a nice step up.

If you're a buyer in this marketplace, one positive sign is active inventory for homes is up 22.2%. Now, keep in mind, there's only 722 homes for sale on Oahu. I think back to over 15 years ago, before the financial crisis. This was back in '06 to '07 when there was little inventory on Oahu. We were talking about when there were only 800 homes for sale. Well, today, there's only 722 homes for sale as of last month. So, it is still a seller's market here on Oahu. However, inventory is up 22.2%. So, there is a lot more to chose from if you're a buyer in the marketplace.

Condo Stats

Ok, now regarding condo sales on Oahu, the sales were actually down 7.8%. That's actually positive news because a month ago, when we reported on June of '24, condo sales were down over 24% from a year prior in June of '23. This is a step in the right direction, even though sales were down over 7%, it's not as bad as the previous month. A year ago, in July of 2023, there were 422 condo sales on Oahu and this past month we saw 389. Once again, that's a 7.8% drop in the number of condo transactions. Now, if you're an optimist and a condo owner, the median sales price was up 1.8%. That's not a whole lot, but it went from $500,000 to $509,000.

Now, we're going to report on that initial stat I reported on in the beginning of this video, where condo inventory on Oahu was up 61.8%. That is a significant jump. In July of '23, there were 1,154 condos for sale on Oahu and this past month we saw 1,867. That's over 700 more condos for sale than there were a year ago. So, if you're a buyer in the marketplace (we talked about this last month), now might not be a bad time to jump into the condo market because there's a lot more inventory.

To put things into perspective, when we talked about the single family home stats earlier in this segment, there were 722 homes for sale. The increase in condo inventory over this past year was just about as much as all of the homes that are for sale on the island of Oahu. Like we talk about every month, every market is different on this island. Later this month, we'll jump into the local neighborhood updates, but if you have specific questions about a neighborhood and what's going on in different parts of the island, feel free to reach out and give us a shout. Mahalo!

Well, I can't believe it's already been a month since the 4th of July. We're now rolling into August, 2024. This is David Buck with Harcourts Island Real Estate and what we're going to do is recap what we've seen over the past year. I diid a YouTube video this past year covering VA loans and PCSing to Hawaii and celebrating the 4th of July. 

4th of July in Hawaii

We've had a really busy summer with home sales and I'm just trying to play catch up now. Please take a look at the video above celebrating the 249th birthday of our nation. We're excited about 250 coming up next year! We're going to talk a little about 4th of July in Hawaii, what it means.

Then, we're going to jump into VA home loans in Hawaii, history of VA loans, going back to COVID (you'll see some charts below) going back to 2020 and through today, 2nd quarter of 2024. Then, we're going to cover the higher value loans for VA, which are basically north of $1 million. Once, again, enjoy the video of our national anthem on the 4th of July in Waikiki. Last year, it was really special as my sister in law and this past month, my daughter got to sing with her. 

National Anthem in Waikiki

MacFarlane Regatta in Waikiki

A tradition in Waikiki is they have the Walter J. MacFarlane Regatta, which is a canoe race in and out through the surf in Waikiki. The first event of the day, which is really cool is an event catered towards our veterans. We have all branches of the armed services there. I've helped participate in this in the past. 

VA Home Loans in Hawaii

Now, let's dive into the meat of the VA home loans here in Hawaii. 

As we look at this first chart, we're going to start off where we left off last year, which was basically the 2nd quarter of '23. As you look at this, we're continuing to see strength in condo sales over single family homes. That's purely because of affordability in this current interest rate environment. Now, what you will see is after the 3rd quarter of '23 sales volumes tapered off into the 4th quarter (which is pretty standard). It did pick back up as we got here into 2024. 

Now, this next chart has to do with high value VA loans over $1 million here on Oahu. 

Like the previous slide, we're tracking from the 2nd quarter of '23 to see what's happened over the past year (which will be more to the right side of this chart). To take you back to a little bit of history, in early 2020, President Donald Trump removed the ceiling for VA home limits in Hawaii and across the nation, as long as you qualify for the loan. So, we've been doing deals north of $1 million and some over $2 million, as long as those buyers can qualify. 

You'll see the bulk of the deals taking place are for single family homes. After the '21-'22 peak of our real estate market here on Oahu, we started tapering off once interest rates started tightening, when we got into '23. What you will see with the blue lines, with the single family homes, sales have started to increase again. However, in the 1st quarter of this year, there were literally zero VA loans on Oahu for condos over $1 million. That got a little bit alarming, but the 2nd quarter we saw 5 condo loans over $1 million for VA loans on Oahu. It's a sign that things are starting to pick back up and this past week we've a little bit of a loosening of rates. So, it'll be interesting to see how we finish out this summer.

Best Deal for Veterans

In the big scheme of things, VA loans are one of the best deals going for our veterans. Not only can you do 100% financing, but the rates are lower than what us as civilians are having to pay. One of the awesome things about veterans buying in Hawaii is our BAH (Basic Allowance of Housing) rates are some of the highest in the nation. 

If you take a look at the link here, you can see what the BAH rates are for Hawaii. 

PCSing to Hawaii

I hope you found that information useful. Now that we've covered VA home loans in Hawaii and what's been happening with them, as well as the high value VA home loans north of $1 million. I hope you enjoyed that special treat of our national anthem and 4th of July in Waikiki. That's what we do for a living. We help our veterans. Whether you're buying or selling here in Hawaii, feel free to reach out and give us a shout. Mahalo! 

Well, I'm not sure if that $3 million price reduction got your attention?

3239 Noela Drive

3239 Noela Drive in Diamond Head just reduced by $3,000,000 earlier this month. This is the 2nd $3 million price reduction (the last of which took place in June) since it's been on the market. The original asking price was $25 million and they hit the market in November of 2023. Now you might ask yourself, is this a good buy at $19 million? Or, is it not a good buy? I'm going to break it down the pros and cons of the current price and what you're getting for this trophy property at Diamond Head.

Overpriced?

First off, I'm going to talk about why this is not a good buy at the current price. This home has over 16,000 sq. ft. of living area. Not many people want to maintain a property that big, even if they can afford it.

Over 16,000 sq. ft. of Living Area on an Acre

Next, there haven't been too many non-oceanfront homes on Oahu that have sold over $10 million. In the past 10 years, there's only been 7 sales. The highest of those was for a new construction home in Lanikai for $14 million. The highest most recent sale north of $10 million was at 3222 Diamond Head Road (right around the corner from here) that sold for $12 million earlier this year.

Oahu Non-Oceanfront Home Sales Over $10 Mil

Lanikai Home Sale for $14 mil

3222 Diamond Head Road Sale for $12 mil

Now, those are the reasons why I don't think this is a good buy. On the flipside, some of the pros may outweigh the cons.

Or A Good Buy?

Now, let me break down the reasons why this is a good buy. The first reason is that sale on Diamond Head Road went for $2,549/sq. ft. on a lot that was less than half the size. The current asking price of this Noela home puts it at only $1,133/sq. ft. 

3222 Diamond Head Road vs. 3239 Noela Drive

The second reason is if someone is truly looking for a trophy property on Oahu, this checks a lot of the boxes. The highest sale we had last year on Oahu was $27.5 million. However, that was for a Penthouse condo at Park Lane. 

I think if you were to take a poll if someone were to own a 16,000 sq. ft. home on an acre on the slopes of Diamond Head or a condo in Ala Moana? I think most would opt for the Diamond Head home.

Which Would You Rather Own?

The next reason is this is a bargain compared to other luxury market across the U.S., such as Aspen, CO, Malibu, CA, Miami or Palm Beach in Florida or Manhattan in New York. This is really a great value, especially what you're getting for a price/sq. ft. like we talked about earlier. 

History on 3239 Noela

Now, for a little bit of history on 3239 Noela. Going back to 1987, local developer Jack Myers bought the McCorriston Estate for $1,350,000 and built a new home that was over 10,000 sq. ft. and featured a tennis court. He sold it in the year 2000 for $9 million, which at the time was a high price tag on Oahu, back in the year 2000. 

Back When the Home had a Tennis Court

The next owner carried it for 19 years before selling at a loss in 2009 for $8,750,000. I though the current owner got a great buy back then, just after the financial crisis. However, they went on to demolishing the tennis court and adding an additional home (and pool) in its place. This brought the current living area up to 16,768 sq. ft. 

New 2nd Home and Pool

Summary

Additional Photos of 3239 Noela Drive

Now, to recap this, there aren't as many buyers floating around out there that have the means to pay close to $20 million for a home here on Oahu. The truth is that these homes can take awhile to sell. Whether that buyer shows up next year or next month, only time will tell. If you're looking for some help navigating the luxury home market here on Oahu, or thinking about buying or selling, feel free to reach out and give me a call at 808-371-3509. Mahalo!

Aloha! Here we are on the corner of Leahi Ave. and Pualei Circle and today we're going to do a walking tour of Pualei Circle. As we promised a few weeks back, we did a a tour of the Gold Coast, which is going to be across Kapiolani Park behind here. We're going to start at the very base here at Pualei Circle at the Gregg Apartments, which is 3006 Pualei Circle. Then, we're going to a walking tour up the street and around the circle (like a clock) and we'll go by each building and explain everything.

Bonus Feature at the End of Tour

If you hang around to the very end, we're going to cover 2 bonus properties at the end, that are around the corner. They're technically not Pualei Circle condos, buy great Diamond Head Condos as well.

Gregg Apartments

As we start our walk up Pualei Circle off Leahi Ave., first off on the left hand side, we have the Gregg Apartments like we talked about. The address is 3006 Pualei Circle. There are 2 buildings - A & B. In the distance there, off Leahi Ave. and the common area swimming pool. Once again, buildings A & B. These are all 2 bedroom, 1 bath condos at roughly 650 square feet.

Leilani (Part 1)

Next coming up on the left is going to be Diamond Head Hale. Straight forward is going to be the Leilani, which is one of 3 buildings of Diamond Head at Pualei Circle. That address is 3030 Pualei Circle. You have a swimming pool there in the front. Then, we're going to cover the Leilani again when we hit the back part of Pualei Circle.

Diamond Head Hale

As we hook to the left here, you have a postal box if you want to drop your mail. Then, we have Diamond Head Hale on the left. They also have 2 bedroom, 1 bathroom units, but they're a little bit than the Gregg Apartments. They're more like 700-800 sq. ft. and they also have a common area swimming pool and an open (uncovered) parking lot. As we walk by, this will kind of give you a perspective of Diamond Head Hale.

Diamond Head Terrace

The next building we're going to approach on the left is going to be Diamond Head Terrace. Here, we've got a mixture of studios, 1 bedrooms and 2 bedrooms. Then, you've got the common area swimming pool there off Diamond Head Terrace Like most of Pualei Circle, these are "walk up" style condominiums with the stairs on the outside.

Hale Pua Lei

The next building we're coming up to on the left is Hale Pua Lei. What's unique about this building is it backs up to Waikiki Elementary. So, there's an open space out the back. In full disclosure, you will hear some noise from the school. What's nice about some of these upper floor units is you've got great views out towards Kapiolani Park. Hale Pua Lei is a mix of 1 and 2 bedroom condos. 

Diamond Head Lanai

The next building on the left is going to be Diamond Head Lanai at 3103 Pualei Circle. This is one of 3 buildings I'd mentioned that falls under Diamond Head @ Pualei. We covered the Leilani earlier.

Ilima Apartments

The next building we have here is the Ilima Apartments, which has a great view of Diamond Head out the back. There, you have a mix of studios, 1 and 2 bedroom condos. Then, off that parking area to the left, you have the common area swimming pool for the Ilima Apartments at 3093 Pualei Circle. 

Diamond Head Manor

As we make our way around the circle, we're going to be coming to the top of a clock in a sense. But, we've got one more building which is going to be Diamond Head Manor. This is the 3rd of 3 buildings that fall under the HOA of Diamond Head @ Pualei. There, we have Diamond Head Manor on the left at 3089 Pualei Circle. They have nice lanais and also a walk-up building, like pretty much everything in Pualei Circle (but 1 building next).

Pua Leahi

The next building we're going to be coming up to kind of falls at the top off the circle, which is going to be 3071 Pualei Circle, which is Pua Leahi. What's cool about this building is I believe it's the only one in the entire Pualei Circle that actually has an elevator. Some of these can actually come with more than 1 parking stall. What's also nice about these (outside of the Leilani) is this is the only building that has a 2 bedroom, full 2 bathroom product. That's one of the nice features of Pua Leahi. 

Leilani (Part 2)

Speaking of 2 bedroom, 2 bathroom units, this is the backside of the Leilani at Pualei Circle. You have the 2 bedroom, 2 bathroom units at the top. They're 2 stories, which is kind of unique and this is the only building in Pualei Circle that is like that. 

Diamond Head Plaza

Next on the left, we have a mix of 1 and 2 bedroom units at Diamond Head Plaza, which also consists of 2 buildings. Like I said, most of the 2 bedroom products in Pualei Circle are going to be a 2 bedroom, 1 bathroom product. Whereas, the Leilani and Pua Leahi have a 2 bedroom, 2 bathroom product.

Diamond Head Gardens

The next building we're going to be coming up to on the left is Diamond Head Gardens. This is a little sentimental to me. When my wife and I were first dating, she owned a unit here at Diamond Head Gardens, which has 2 buildings as well. There's a mix of 1 and 2 bedroom products and they do have a nice swimming pool out the back. The addresses are 3045 and 3055 Pualei Circle.

There's a mix of uncovered parking stalls you'll see off to the left. They have this nice mosaic tile decor feature here at Diamond Head Gardens, kind of a retro mid century modern typeface. Then, around the corner, you actually have some covered parking stalls underneath. As you look up, they have nice sized lanais, some of which the owners have enclosed and have put in shutters for sun protection. What's nice about those upper floors at Diamond Head Gardens have view above Diamond Head Alii, which is the next building we're coming up to on the left. Both at Diamond Head Gardens and Diamond Head Alii on the upper floors can see Kapiolani Park. 

Diamond Head Alii

Here at Diamond Head Alii, if you look out the back, they also have a common area swimming pool. That's one of the access points. There are 3 separate buildings that range from 3017-2027 Pualei Circle. Diamond Head Alii is exclusively 1 bedroom, 1 bathroom condominiums. Unlike the previous buildings we just walked by and covered, there is not a 2 bedroom product at Diamond Head Alii. It's all 1 bedroom, 1 baths, walk-up condominium style living. There again (across the street0 is a post office box where residents can drop their mail at Pualei Circle.

Now, we're going to head back down to 6 o'clock, if you were to think of Pualei Circle like hands on a clock. As start walking back down the street towards Leahi Ave here. If we look off to the left, that's going to be another access point to the swimming pool for Diamond Head Alii.

Diamond Head Surf

Last, but not least, we have Diamond Head Surf coming up on the left. Once again, you have that cool mid century modern typeface here at Diamond Head Surf. It is kind of a retro building as a lot of these Pualei Circle condos are. As we round out our walking tour of Pualei Circle, we have Diamond Head Surf off to the left, there is a mix of 1 and 2 bedroom condos at Diamond Head Surf. Like a lot of other condos here at Pualei Circle, it does have a common area swimming pool. You have a beautiful view of Diamond Head right out the back. They call it Diamond Head Surf because you can literally cross Kapiolani Park to hit the surf at Diamond Head. 

Full "Circle"

Ok. That kind of summarizes walking Pualei Circle through the bottom on up at 6 o'clock at the bottom, all the way up like a circle around a clock. We're now back at the base with Diamond Head Surf behind me and the Gregg Apartments where we started. I want to show you something right across the street.

Community Garden

As we cross the street from Pualei Circle (behind me here) what we have is Diamond Head Community Garden, which is a community garden for neighbors in the area that want to grow vegetables, fruits, etc. If you cross through the middle, it takes you to Kapiolani Park and the Waikiki Shell. You can also head down Leahi Ave., hook a right, head across Kapiolani Park and back to the Gold Coast. 

Bonus 1: Diamond Head Sands

Now, we're around the corner of Pualei Circle at the intersection of Monsarrat and Kanaina Avenue. This strip mall here at Diamond Head is anchored by Bogarts, which is a great breakfast and coffee place. It's also got a lot of great smoothies.

If you're on the internet or looking to buy a condo in this area, some people are confined to Pualei Circle. But, not many people are aware of Diamond Head Sands, which is this condo complex on the backside of Pualei Circle offf Kanaina. These are studios and 1 bedrooms. They are quite spacious, because some of these 1 bedroom condos at Diamond Head Sands can be north of 600 square feet.

As we start to walk by, you'll notice the building is propped up and elevated, which provides for a lot of covered parking (which not many of the buildings in Pualei Circle have). What's unique about Diamond Head Sands was it was built in 1975, so it's a little bit "newer" building. Most of Pualei Circle was built between 1959 and 1966. So, one of the things that is unique about Diamond Head Sands is they do have enclosed interior walkways between the condos. Whereas, most of Pualei Circle is open.

Off to the left there you do have the backside of Diamond Head Circle, which is a high end residential neighborhood with generous sized lots. As we walk by and round up Diamond Head Sands, not all of the units do have lanais, but some do. Some on the upper floors can have great views out the back.

When you go past Diamond Head Sands, you walk by a home on Kanaina that sold for $2.5 million in October, 2023. Some of these other single family homes have come up over the years. Once again, you have views of Diamond Head out the back. 

Here we have a back entrance to several of the buildings in Pualei Circle. Not many people are aware of it, but the Ilima Apartments and Diamond Head Manor have entrances on Kanaina Ave as well. Now that we've covered Diamond Head Sands and the backside of Pualei Circle, stay with me and we're going to hook around the corner to show you one last property.

Bonus 2: Diamond Head Hillside

Here we are now at Diamond Head Hillside, which is going to be the final building. It's right off Monsarrat Ave., so it is a bit of a busy street. Kitty corner across the street you've got Coffee Bean and Tea Leaf. Across the street, you've got Diamond Head Grill. Then, you've got an Aloha Gas Station across the street as well. Now, as we walk around the corner at Diamond Head Hillside, Diamond Head Hillside is primarily made up of 2 bedroom, 1 bathroom units. However, there is a 1 bedroom, 1 bathroom product. 

What we didn't cover much walking around Pualei Circle is similar to Pualei Circle, Diamond Head Hillside has community laundry. There are many (if any) units that have washer/dryers in the units. There's open parking here on the backside of the building. So, it's uncovered parking. Diamond Head Hillside is a 6 story building, which is significantly taller than the condos at Pualei Circle and Diamond Head Sands, which are typically about 3 stories. We have the Gold Coast in the distance and we're not surprised why they named this building Diamond Head Hillside. You have incredible views of Diamond Head right out the back. 

I hope you enjoyed my tour of condos at Pualei Circle and the bonus features of Diamond Head Sands and Diamond Head Hillside here at the very end. If you need any help with condos in the Diamond Head area or anywhere around Oahu for that matter, feel free to reach out and give me a shout. Mahalo!

Aloha! This is David Buck with Harcourts Island Real Estate and today we're going to cover the local market update for homes and condos on Oahu for June of 2024.

Local Market Update for Homes

First off, Moanalua-Salt Lake saw the largest increase in home sales, which were up 100%, going from 2 in June of 2023 to 4 sales this past month.

Next up, Waialae-Kahala saw the largest increase in median sales price, going from $2,205,000 to $3,425,000, which was a 55% increase year over year. So, once again, Waialae - Kahala saw the largest increase in median sales price year over year for single family homes on Oahu.

Local Market Update for Condos

The Windward Coast saw the largest increase in condo sales, which was up 100% or basically doubling from 1 to 2 sales. It was 1 of only 5 neighborhoods that saw an increase in sales. Now, keep in mind of the 21 major neighborhoods that the Honolulu Board of Realtors reports on, only 5 of those neighborhoods saw an increase in condo sales. As we reported on earlier this month, there was a 24% decrease in condo sales on Oahu. Hence, there were only 5 neighborhoods that were up.

Well, Deja Vu - we're still on the Windward Coast In addition, the Windward Coast saw the largest gain in median condo price, going from $100,000 to $295,000, which was a 195% increase.

As we talk about every month, every neighborhood is different for homes and condos. So, if you have something specific to you, feel free to reach out and give us a shout @ 808-371-3509. Mahalo! 

Aloha, this is David Buck with Harcourts Island Real Estate and I'm going to give you a quick tour of my listing here at Colonnade on the Greens here in Aiea, which is technically in the neighborhood of Pearlridge. You'll see this sits in the hillside above Pearlridge. What you'll see here is the swimming pool.

Colonnade on the Greens Swimming Pool

One of the perks about living here is you've got a sauna, tennis courts, BBQ area, swimming pool and fitness center. This is unit 1105 in Building 5, which is one off the more desirable units here. This is a 2 bedroom, 2 bathroom with 2 parking. The tenant just recently moved out, which his why I'm just getting around to doing this video. I just wanted to give you a feel of these units.

Colonnade on the Greens Lanai and Views

Check out some of the grounds here on site. Like I saiid, you've got several towers here and this is building 5. Look at how far back we're set from H-1 Freeway, but you do have great access to H-1 and out the back you've got Pearl Harbor. You can see some of the ships there. Off to the left is Aloha Stadium and then Red Hill and Moanalua to the further left there. As we pan back around, this is Pearl Golf Course here that wraps around the property. 

This is a nice spacious lanai and this is east facing. So, you're not going to get the afternoon sun. You do have ocean and Pearl Harbor views.

Main Living Area

We're going to walk back into the main living area here. This was a 1976 build and it was remodeled in 2005. They have an upgraded kitchen, upgraded appliances and then you have a dining area off to the side. You then have a full bath off the hallway, which could be used for guests. As you come down the hall, you've got the laundry setup on the right. 

2nd Bedroom

We'll hit the 2nd bedroom first. If you were to have your bed here, you'd look to the right and then have your view out towards Aiea and Pearl City. Coming back in, you have a full closet.

Primary Suite

We then go into the primary suite. These are jalousie windows (on both sides) and you do get cross ventilation here. They do allow for window AC units. There's one here and in the other room as well. Then, you have dual closets. In the 2nd full bathroom, you have corian countertops. Now, let's walk back out to the lanai.

Great Value for Military

These are a pretty good value, especially for military as you saw the proximity to Pearl Harbor. Off to the left, you have Hickam Air Force Base. Then, as you look further to the left, you have Tripler Hospital right around the corner. So, you have 3 military installations nearby here (actually a 4th if you include Camp Smith). Looking back towards Pearl Harbor, that's the Ford Island Bridge. It's hard to see, but that's the Honolulu Rail between H-1 and Pearl Harbor.

Summary

Once again, this is called Colonnade on the Greens and you could clearly see why they call it Colonnade on the Greens with this golf course view out the back. If you're interested in learning more about Colonnade on the Greens in Aiea, feel free to reach out and give me a shout. We also sell condos and single family homes in the area.

What's a little bit complicated about this area is from an MLS standpoint, this falls under Pearlridge from a neighborhood standpoint. Then, some people would think that since you're in Pearlridge, you'd be in Pearl City from a city standpoint. But, we're actually in the city of Aiea. So, Colonnade on the Greens condos in Pearlridge are actually going to fall under the city of Aiea on Oahu. Feel free to reach out if you have any questions. I can be reached out 808-371-3509. Mahalo!

Do you think right now is a good time to buy a condo on Oahu? This is David Buck with Harcourts Island Real Estate, and today we are going to talk about the market stats for June of 2024. First off, we are going to dive into single-family homes, and stick around towards the later we are going to dive into the later are going to dive into the dynamic part of our market which is actually the condo market.

Single Family Home Stats

So, first with the single-family homes, we saw the median sales price up 6.7% as that was going from $1,050,000 in June of 2023 to $1,120,000 this past month. Meanwhile, transactions as far as sales go were up 4% year-over-year and that was going from 248 sales a year ago to just 258 sales. So, that's 10 more sales 4% increase. Meanwhile, the median days on market were down 11.8% and that was going form 17 days to 15 days, so stay tuned and we’re going to dive into the condo stats.

Condo Stats

Well, we started this off asking "is now a good time to buy a condo on Oahu"? On the initial glance, you might not think... well, prices are actually up so the first stat we’re going to talk about is median sales price, and there we saw an increase year over year of 3.9%. A year ago, that median sales price was $510,000. This past month it was at $530,000. Now, from a buyer's stand point, that might seem like now is not a good time to buy with rates and all this stuff. I’m going to share with you a few reasons why now might be a good time to buy a condo on Oahu. The second stat we’re going to cover is sales volume. The number of condo sales this past month were down 24.5%, a year ago there was 470 condo sales on Oahu, and this past month there were only 355, so thats a lot less deals taking place, so if you’re a buyer, now might be a good time because of that. Meanwhile median days on market have increased, they’ve gone from 18 days on market a year ago to 26 days on market this past month.

Now there’s a few other factors I want to talk about here, and why it’s been challenging in the condo market. We’ve talked about these on a few of my videos and one is because insurance is becoming more and more of an issue due there’s a number of condo buildings in town that were underinsured. Some were going through some growing pains within older buildings with plumbing and infrastructure. Third,  we've covered a while back which was an ordinance 19-4 regarding upgrading fire protection or fire life and safety evaluation for condominiums. So with all of those factors, and there is one more factor I’m going to share is that just in the news this past week, it talked about how the Yen was at the lowest it’s been against the US dollar since 1986, so we’re seeing in our marketplace right now is a lot less international buyers from Japan, we’re actually seeing a lot more Japanese sellers of condos on Oahu. So I think that trifecta with sales volume being down, days on market taking longer and then less competition from international buyers. I think all those factors play into why now might be a good time to be a condo buyer on Oahu. Because if we fast forwards a year or two for now, I can’t predict the future, although I’ve predicted the future on a few other buildings that were down on Oahu in the past, other buildings that were down on Oahu because of financing issues, such as the Marco Polo, and Ilikai, and how they’ve rebounded, once again taking take this witha a grain of salt, I cant predict the future, but if you look back a year or two from now, I think right now might not be a bad time to buy a condo on Oahu. That’s just my two-sense, and thanks for tuning in. This is David Buck with Harcourts Island Real Estate. If theres anything we can help with Real Estate here on Oahu, homes, condos, land we got some good land offerings coming up on the North Shore, feel free to reach out. GIve us a shout, I can be reached at (808)371-3509. Mahalo.

Aloha, this is David Buck with Harcourts Island Real Estate, and I am here to give you a quick tour of my listing here at Gardens at Launani Valley. This is a ground-floor unit, D102, and I am going to flip the camera around here in a second and we’ll take a look. Here we are at D102.

Main Living Area

This is a ground floor as I mentioned, It’s got a bit of an updated kitchen here, A little wine or drink refer here underneath the countertop. A stainless steel oven in addition to the 833 square feet interior, you’ve got a 58 square foot lanai or balcony that looks out the back across Launani Valley here. And as we head back in, a tenant just moved out so just doing a little walk thought here this about half a million bucks by the way, we do have it under contract.

Primary Suite

Whats nice about the primary suite, it does have this view of the Valley on the back, as well as a door to get out to the lanai that we just came from. And coming through here you have two closets, either side. And then you have a nice updated bathroom here, with easy to walk in shower.

2nd Bathroom and Bedroom

And then we’re going to come back around, to the hallway/guest bathroom. Similar style decor and finishes, sink, then we got full-load front load washer drier full size, then you get a nice view out the back here. This does include two parking spot, and if you go out to the right there is a common area/ swimming pool. Back to the house, you get built-in closet space and this is what you get here at Gardens at Launani Valley.

Location

What’s great about this location, is that it’s near Wheeler Army Airfeild, its near Schofield Barracks two military installations on Oahu, and it is also VA eligible. As far as school districts, this falls under Wheeler for both elementary and middle school, and then the high school in this area is Leilehua in Wahiawa, so Go Mules! If you have any questions about this property or any properties in Mililani for that matter, this is a great location, for Military in central Oahu with close proximity to Schofield Barracks and Wheeler Airfields. Mahalo!