Today is going to be a real treat because it's going to be the first time we're going to cover mid century modern homes on Oahu via YouTube. Although I've had a YouTube Channel for awhile, I haven't really done much with it regarding mid century modern homes and I've been blogging about mid century modern homes on Oahu for over 15 years.
Alfred Preis Home Near the Top of Maunalani Heights
This is real treat today because we're going to be covering an Alfred Preis home on the top of Maunalani Heights. This is the first time this home has been on the market for decades and it's a true treasure because it has a lot of Alfred Preis' key architectural points.
Kitchen to the Left of Entry
Like I said, this is near the top of Maunalani Heights. You enter off Wilhelmina Rise and there's a 2 car carport. From the carport, there's a walking path down to the left. As you enter the front door, you would come into the kitchen on your left to drop off your groceries. These Alfred Preis homes are well thought out and practical. The Seller has done a great job of restoring the cabinetry and added some new countertops in the kitchen.
Throughout the great room, they've redone all the hardwood floors and there's a nice view that opens up to the east side of Maunalani Heights and they've got a kind of a privacy trellis on the makai side of the house. We actually own an Alfred Preis home and that was a feature they used to offer some privacy with those vertical trellis lines.
Signature Built Ins of Alfred Preis
As you leave the great room, this is a 5 bedroom, 2.5 bathroom, 2 story home. As you go down the hallway, you'll really appreciate the woodwork that was done in this Alfred Preis home and you'll see throughout the home there are his signature built-ins for countertop space, drawers and closets and there's no shortage of storage in this house.
Closet Built Ins
Kahala and Diamond Head Views from Primary Suite
There's 3 bedrooms upstairs, 2 along the hall and the primary suite is at the very end of the hall. Arguably, you're going to have the very best view in the home from this primary suite with ocean views off Kahala as well as Diamond Head and it's one of the best views in the house. You do have a full bathroom upstairs and there's a wet bar upstairs as well.
Downstairs Liiving Area w/ Signature 50's Hollow Tile Wall
Trex Deck off Downstairs Living Area
Downstairs, there's another living space and they've done a great job of adding in a brand new deck. It's a trex or synthetic deck and it really ties in that indoor/outdoor space, which is typical of older Hawaii and mid century modern homes of the time.
View from Downstairs Bedroom at the End of the Hall
Downstairs Bathroom
Off that secondary living space downstairs you also have a half bath and then down off the hallway downstairs you have 2 additional bedrooms as well as a full bathroom.
Contact a Mid Century Modern Expert
i hope you appreciate the architecture of Allfred Preis. If you're looking for a mid century modern home here on Oahu, feel free to reach out and contact a mid century modern expert to see how we can help find you the right place. Or, if you own a mid century modern home here on Oahu, whether it be an Ossipoff home or an Alfred Preis home, feel free to reach out and give us a shout, we'd love to help. Mahalo!
Well, there's been a lot of research and content on the internet recently about Saunas and how great they are for your health. However, since this is a real estate video here, we're going to talk about real estate here on Oahu. Recently, I've been noticing a number of single family homes popping up on the market with saunas in them. One up on Waialae Nui Ridge and another in Kahala. Over the years, I've seen a handful of them up on Hawaii Loa Ridge. Now, obviously every single family home is different, but there are condominiums on the island that have saunas. I've got a listing right now in Pearlridge that has one.
Sauna at Colonnade on the Greens in Pearlrridge
If you can't afford a home sauna, some alternatives could obviously be a gym or a common area of your HOA.
Saunas in Hollywood
One of my favorite movies with a sauna scene is Blues Brothers. It's actually one of my favorite movies in general. That sauna scene is classic...
Saunas in Hawaii?
Saunas have had their ins and outs throughout the years. I know they're big in Scandinavia. I've spent time in them in Sweden and Denmark. However, as I got older in age and living in Hawaii, you always think "why do I need to go into a sauna?" Saunas can be good for your health. Once again, I am not a Doctor. I am a Realtor.
Looking for a Home or Condo with a Sauna?
Going forward, we'll keep track as these listings pop up and you can see some of the latest ones here. If you're interested in a property that has a sauna, whether it be a single family home or a condo here on Oahu, feel free to reach out and give us a shout @ 808-371-3509. Mahalo!
Can you believe there's not 1 home for sale today in Aina Haina? Today is April 3, 2024. It's almost like it's April Fools Day.
Inventory Needed in Aina Haina
In the entire valley of Aina Haina, there's not 1 home that's for sale. Today, we're going to cover, as we do on Wednesdays, a segment of We Need Inventory. We do need inventory in Aina Haina because there's literally not 1 home for sale. For those of you that don't know, Aina Haina is a beautiful valley in East Honolulu that's between Waialae Iki and Hawaii Loa Ridge.
There's roughly about 1,000 homes in Aina Haina. I've been tracking the real estate market in Aina Haina for pretty much most of my real estate career. I used to live in Aina Haina. Once again, as of today, there's nothing for sale and there's only 1 home that is under contract on Oio Dr. and they have an asking price of $2.5 million. Over the past 6 months, there's been 9 trades in Aina Haina. Because this is a highly sought after East Honolulu neighborhood, where not many people want to sell. So, there's only 9 sales in the past 6 months out of like 1,000 homes. Those range in the $1-2 million range. There was a sale that took place for $4 million back in February, but that's kind of an outlier. In general, most homes in Aina Haina will be in the $1-2 million range.
If you know anyone looking to sell in Aina Haina, now is aa great time because there's literally nothing for sale. In the meantime, I'm going to jump over into a quick segment with the "sister valley" to Aina Haina, which would be considered Niu Valley. It's not as large. Today in Niu Valley, there's only 1 home for sale in Niu Valley.
Only 1 Home for Sale in Niu Valley
It's pretty rare that we cover 2 neighborhoods in our segment of We Need Inventory. However, i thought it was a perfect topic to cover today because Niu Valley (which, arguably could be considered the "sister valley"to Aina Haina) only has 1 home for sale.
East Honolulu in High Demand
East Honolulu is a highly sought after part of the island. Not many people want to sell. More people want to get into "the hood" than are leaving "the hood". If you have anyone thinking about selling in Aina Haina or Niu Valley, now could be a great time because there's very limited inventory for sale and we'd love to help. Feel free to reach out at 808-371-3509. Mahalo!
Can you believe this weekend marks 65 years since Henry J. Kaiser announced the development of Hawaii Kai? I can't believe it's been that long, however on March 30th, 1959 (which for those of you that don't know, was the year of statehood in Hawaii, which took place later that year in August) Henry J. Kaiser and Bishop Estate (now Kamehameha Schools) announced the development of Hawaii Kai. What you can see from the headline, was it was going to be a gigantic resort.
I'm going to quote some from an article that came from the Honolulu Advertiser (one of the predecessors to the Star Advertiser), which originally appeared on March 30th, 1959. Then, we're going to dive into where we are at in Hawaii Kai today and how much of that vision of Kaiser's came to life.
According the headline of the 1959 Honolulu Advertiser article, it says:
Kaiser, Bishop Estate Plan $350 Million "Model City"
Koko Head Area to be Developed
Henry J. Kaiser and Bishop Estate announced yesterday that they were teaming up to build a fabulous $350 million resort and residential model city on the southeast corner of Oahu. The development, sweeping from Maunalua Bay around Koko Head to Makapuu Point envisions hotels, apartments, homes for 50,000 people on more than 6,000 acres of land.
THE COMMUNITY is to be known as Hawaii Kai. It will, in effect, become the new state of Hawaii's second largest city in terms of population. Plans are for the projected homes to range through the medium to upper class and luxury brackets. There will be a marina for boating and water sports "and all the facilities and services that make up a completely rounded out community" the joint announcement said.
THE BOARD of Water Supply said there were presently 10,000 gallons of water a day available for the area, enough to meet all the needs of the development. The community will from the ocean on Maunalua Bay and on the east coast of Oahu between Koko Crater and Makapuu Point. It will also extend into seven largely undeveloped valleys and along the ridges dividing them.
THE ANNOUNCEMENT said "the aim is to undertake the first building in a matter of months, followed up rapidly with a number of units in an orderly master planned program." It added: "Steps will be taken for the satisfactory relocation of persons who in future years may be in the path of certain large scale undertakings." It was understood that long term Bishop Estate leaseholders in areas such as Portlock Road would not be relocated but would benefit from the development's added facilities.
YESTERDAY'S announcement was the fruit of more than two years of information discussions between the Territory's biggest builder and industrialist, Kaiser, and the Territory's biggest landowner, Bishop Estate. Kaiser, whose Waikiki holdings make him the biggest single land owner in that district, spent $14,000,000 to develop the 20 acre Hawaiian Village project. Hawaii Kai will be exactly 300 times as big.
THE 6,000 acres earmarked for the development are roughly one-tenth of total Bishop Estate holdings on Oahu.
65 Years Later
So, here we are 65 years later. Now, let's dive in to see where we've come over the past 65 years and look back on Henry Kaiser's legacy. There's just so much to take in here. First off, when they made this announcement, it was 2 years after talks they were doing and here's a fun fact I learned awhile back from Bob Sigall, who writes on local businesses here in Hawaii.
Hawaii Kaiser?
This was a fun trivia fact that Bob Sigall shared: When Henry Kaiser was first proposing the development of Hawaii Kai, he wanted it to be called "Hawaii Kaiser". Obviously, that didn't blow over too well. That was news to me growing up here. I'd just assumed Hawaii Kai makes sense (Kai, meaning ocean or water,). But I guess he had a bit of an ego and wanted to call the development Hawaii Kaiser.
Building Then vs. Building Today
Another thing I found interesting in this article was that they said building was going to start right away (in a matter of months). Could you imagine today? With all the bureaucracy you have to to through with permits here on Oahu... I just had a client back out of a deal, where the contractor told them it's going to take a year just to get a remodeling permit.
Could you imagine Kaiser back in the day would just dredge areas to build his estate there in Portlock? We've come a long way with environmental regulations, bureaucracy and red tape. That's for sure!
Hotels in Hawaii Kai?
Another takeaway I got out of this article is they quoted (there will be) hotels in the area. That never did come to fruition. Hawaii Kai obviously does have commercial real estate there today. There's 3 major malls. You've got Hawaii Kai Shopping Center, Koko Marina Shopping Center, as well as Hawaii Kai Towne Center (where Costco is). There are no hotels in Hawaii Kai.
Living on the Marina
Homes and Condos fronting Hawaii Kai's Marina
There's lots of condos and single family homes the lifestyle there is unique like nowhere else in Hawaii. There's no other marina where you can have a boat dock right out your back door.
Boat Dock Fronting a Kuapa Isle Residence
It's truly remarkable and unique. I've got a client/family friend that basically said the one limiting factor that keeps the values of homes (which cap out in the $3 million range on the marina) in Hawaii Kai is they'd be significantly higher if the bridge was higher, because of the wealthy people could bring in their larger boats.
Hawaii Kai Marina Real Estate Limited in Value by Entry Bridge Height
That's what limits the sales (prices) of the marina front homes.
Portlock Road - Conversion from Leasehold to Fee Simple Ownership
Entry to Portlock Road
When you get along Portlock Road, that's where you're going to find some of the oldest, original homes in Hawaii Kai. I always say that some of the best real estate was taken first. Along Portlock Road, you have homes that date back to the early 1940's, at least in the last 5-10 years in MLS.
MLS Screen Shot of Portlock Home Ages
There could be some that are older, but that's the prime real estate that was taken first. As was quoted in the article, Bishop Estate at the time (now Kamehameha Schools) was going to let all of those people in Portlock stay in those homes. They had their land leases on the properties. Ultimately, they did offer the fee and pretty much everything you see along Portlock Road today is fee simple, as is most of Hawaii Kai.
If you take a step back, Henry Kaiser put in all of this money for the development of Hawaii Kai and teaming up with Bishop Estate at the time. They had the land. He had the money and the development experience. Keep in mind though, all this land was leasehold at one point in time. Fast forward to today, pretty much everything is fee simple.
Water Supply and Private Sewer
In the article, the quoted the Board of Water Supply with the "water supply" (of 10,000 gallons/day). No pun intended there. The irony is today, the Board of Water Supply still supplies the water to Hawaii Kai. However, it's one of the few or only major developments or neighborhoods on the island that has a private sewer. So, you have a sewer fee that's paid to another vendor. As opposed to having both your water bill and sewer bill paid to the Board of Water Supply. That's unique to Hawaii Kai.
From 7 Ridges and Valleys to 23 Neighborhoods and 34 Condo Projects
Another takeaway I got out of the article was that it talked about 7 major ridges and valleys. Fast forward to today, in MLS we have 23 different neighborhoods in Hawaii Kai. We talked about the homes being developed in the 40's. Some of the earlier condo projects in Hawaii Kai were on Kawaihae St. Fast forward to today and we have 34 different condo projects scattered throughout Hawaii Kai. it has come a lot way...
A final talking point about Hawaii Kai is that in the article it mentioned that it's going to be the 2nd largest city in Hawaii. Today, it is definitely a larger area population wise. However, technically it still falls under the City and County of Honolulu. Everyone that lives in Hawaii Kai has a zip code of 96825 and it's "Honolulu, HI". So, it's not it's own separate city. However, Hawaii Kai does have its own region within MLS. There's 12 major regions within the island of Oahu. Within that region, there are 23 different neighborhoods, like I mentioned earlier.
Contact a Hawaii Kai Expert
Hawaii Kai has been a passion of mine. It's where I had my first home when I was a kid, the first condo I lived in when I was a kid. I barely remember them, but I've spent a lot of time in Hawaii Kai over the years and it's a great community to live in. I've actually served as a firefighter in Hawaii Kai for most of my career in the Honolulu Fire Department. The station is number 34 right off of Lunalilo Home Road and it's got Henry J. Kaiser high school right behind it. It's a great community to live in and if there's anything we can help you with, whether it's buying or selling a home or a condo, feel free to reach out and give us a shout @ 808-371-3509. Mahalo!
Well, if you have anyone in your family that's military, the Hale Koa Hotel is one of the best deals going in Waikiki. You might not always have the ability to stay there, because it's always in such high demand. If you're ever spending time here and curious about the real estate around the Hale Koa, I'm going to give you a quick tour and show you what some of the nearby condos are.
Condos for Sale Near the Hale Koa Hotel
First off, there's going to be condos behind the Hilton. To learn more about the condos near the Hilton, you can read this article. Once you cross the street, you've got Fort DeRussy Park, which is a 70 acre park in the heart of Waikiki. Then, out the back, first off you're going to have the Luana Waikiki. Those are studios and 1 bedroom condos that you can rent out short term. Behind that, you've got the Hawaiian Monarch. Some of the front row buildings along the park are actually going to be hotels.
Fort DeRussy and Hale Koa Views from Lanikea Condo
One building that can be appealing near the back and they have great views of Fort DeRussy is Lanikea at Waikiki. There's 4 units per floor, all of which are 2 bedrooms, 2 bathrooms. To the right of Lanikea (looking from the park), you have Ritz Carlton Waikiki. There's 2 towers, both Diamond Head and Ewa Towers. Those are condos that can be renting out short term. They were developed by Irongate, which is the same developer that built Trump Tower Waikiki, that recently got rebranded as Kala'i.
Pros and Cons of Ritz Carlton and Trump Tower
There pros are that you can live in them, you can rent them out short (or long) term. The downside is that they're really hard to make money if you decide to rent them out short term as the management company takes nearly 60% of the income off the top. You do have use the front desk there (for short term rentals). That's a recap of the condos near Fort DeRussy and Hale Koa. Correction, I'd like to wrap it up with the gem of them all. Stand by...
Waikiki Shore
Waikiki Shore with Diamond Head in the Backdrop
The best was saved for last. Waikiki Shore is direct beachfront at Waikiki, with Diamond Head down the coast. Here, you've got 2 bedrooms on the oceanfront end of the building. Then, you have a mix of studios and 1 bedrooms that run towards the back. Then, there's a 2 bedroom floor-plan near the back of the building.
Contact a Waikiki Condo Expert
If you have any questions about any condos in Waikiki, feel free to contact us for more information.
As you come out of the Hilton Hawaiian Village on to Ala Moana Blvd., you've got The Ilikai to the left with a restaurant on the top, (which used to be Sarrento's). Then you've got Pomaikai, which is the blue building. At the top, behind there, you have Discovery Bay. Then, you've got The Palms, which is a vacation rental condo, where you can do legal short term rentals. Then, you've got The Wailana across the street and they're going to put in a new Foodland Farms there.
Behind the Wailana is Kalia, which are leasehold condos (which can be challenging to purchase). Then, you've got the Waipuna, which are primarily 2 and 3 bedroom units. Then, you've got Canterbury Place. Then, you have Inn on the Park, which are also leasehold condos.
That kind of gives you an idea about the western condos along Ala Moana Blvd., when you come out of the Hilton Hawaiian Village. There's obviously a ton of other condos all throughout Waikiki and if there's anything we can help you with, feel free to reach out and give us a shout @ 808-371-3509. Mahalo
Can you believe that home sales in Waipahu were up 300%? This is David Buck with Harcourts Island Real Estate, here to report on the local market update for February of 2024.
Local Neighborhood Update for Homes
In Waipahu, in February of 2023, there were only 3 home sales that took place and this past month we had 12. So, that's a 300% increase. Regarding home appreciation on Oahu, Waialae-Kahala saw the largest increase year over year, from February of 2023 to this past month. It was up 52%. The median sales price a year ago was $2,950,000. This past month, it was at $4,500,000.
It'll be interesting to see as we make our way forward into 2024, because traditionally Waialae-Kahala will lead the overall market on Oahu out of a slump (if you look at historical data). We'll see if that's a tell tale sign of what we can anticipate later in this year. For now, Waialae-Kahala saw the largest increase year over year for median home price.
Local Neighborhood Update for Condos
Waialae-Kahala also showed a lot of strength regarding condo sales. It tied with the Windward Coast. In both neighborhoods, sales were up 200%, going from 1 transaction to 3 transactions. Once again, Waialae-Kahala has been strong here on Oahu, as is the Windward Coast when it comes to condo sales.
For our final category of condo appreciation on Oahu, we saw Wahiawa with the largest increase year over year, which was up 246%. That was going from a median sales price of $101,266 a year ago to $350,000 this past month. Most likely the reason for that huge gain was not too often to you see condos around the $100,000 price range, but in Wahiawa, there's a complex called Hidden Valley Estates. There you can have some leasehold condos that are in that lower price point.
Thanks for tuning in for the February local market update here on Oahu. If there's anything we can help you with, feel free to reach out and give us a shout because every market is different. Whether it be every neighborhood, every condo building on Oahu, they're all ebbing and flowing at different rates of returns. So, feel free to reach out to an expert for advice to navigate your next real estate purchase or sale. Mahalo!
A little over a month ago, we noticed a $10 million price drop for a penthouse condo at One Ala Moana.
History of One Ala Moana
For those of you that don’t know, One Ala Moana is a high end luxury condo on the back side of Ala Moana shopping center. It was a joint venture between General Growth (that owned the mall and was later bought out by Brookfield Properties) and MacNaughton and Kobayashi Groups. When they launched sales in 2012, they sold out super fast. One of the equity partners was from Japan and many of the initial buyers were from Japan as the yen was much stronger back then that it is today.
Penthouses 2300 & 2302
Now back to the Penthouse at hand. Penthouses 2300 and 2302 were bought by the same owner during the original sales that closed 9 years ago in early 2015. Unit #2300 sold for $7,350,000 back then and unit #2302 sold for $8,850,000 for a combined $16,200,000. Up until early February they were listed for a combined $22,500,000. When the price dropped $10,000,000, it’s because the 2 Penthouses were listed as a package sale. They needed up splitting the listing back into 2 separate units, with PH 2302 dropping to $10 mil and #2300 being offered at #12,500,000. Since then, there’s actually been another price drop, taking #2302 to $10,000,000 and #2300 to $9,500,000 for a combined $19,500,000. If the Seller were to get that, it would be a $3.3 million or a 20% gain. Considering the holding period has now been over 9 years, that’s only a 2.2% annualized return. When you factor in maintenance fees, property taxes and commissions
Once again, that’s IF the seller can get their asking price. Last year, there was a PH that sold at Park Lane for $27,500,000, which was 5,668 sq. Ft. The combined Penthouses #2300 and #2302 at One Ala Moana are 7,738 sq. Ft., so you never know.. If you’re interested in learning more about this PH offering or learning more about other penthouse condos in the Ala Moana-Kakaako area, feel free to reach out and give me a call @ 808-371-3509.
i've recently listed 2 well priced condos on Oahu, both have 2 bedrooms, 2 bathrooms, 2 parking stalls and listed for $500,000. Both have tennis courts and are near military bases for our veterans PCSing to Oahu that love tennis.
1. Colonnade on the Greens in Pearlridge
Colonnade on the Greens Tennis Court
The first one is at Colonnade on the Greens in Pearlridge. It isn't too far from Camp Smith and Pearl Harbor. There are two tennis courts on site and there's a ton of other amenities that include a pool, sauna, racketball court and more..
2. Gardens at Launani Valley in Mililani
Launani Valley Tennis Court
The second listing is at Gardens at Launani Valley in Mililani. This one is close to Schofield Barracks and Wheeler Air Field. The condo project itself has a swimming pool, however by virtue of owning in the project, it's also part of the Launani Valley community association, where you have a tennis court and other perks such as a basketball court, park and picnic areas.
If you have questions about either property or are looking for a tennis property on Oahu, feel free to contact us for more information.
Here we are at the bottom of Hobron Lane at the Ala Wai Boat Harbor and we're going to be talking about the pros and cons today of the Ilikai vs. the Ilikai Marina.
The Ilikai at 1777 Ala Moana Blvd
Ilikai Condo Entrance off Ala Moana Blvd
The main entrance to the Ilikai is off Ala Moana Blvd at 1777 Ala Moana Blvd. Unlike the Ilikai Marina, you have 2 access points, both on the mauka (mountain) and the makai (ocean) side of the property. We'll take a walk up through the entrance to give you a feeling of the Ilikai.
Ilikai Whale Statue and Waterfall
As you go through the porte cochere and valet parking, you're greeted by a tranquil waterfall and a beautiful statue of humpback whales. Hearing the natural beauty of the water, you come up the stairs and enter a grand lobby. From there, you have the signage as well as the front desk (to your right), which is currently run by Aqua Hotels. As you walk through the seating area, the bank of elevators will be to your left. As you walk further out, you walk towards the marina, where you have some restaurants and awesome retail establishments.
Ilikai Retail Shops
As I'd mentioned, the Ilikai has entrances on both the mauka and makai sides. Here we are now on the makai side near the Hilton Hawaiian Village. Directly behind me is a ramp up to the Ilikai, to access the amenity deck, where you can see the sunset views.
Ilikai Pool and Amenity Deck
When the Ilikai was first built, the swimming pool used to be off the deck where the Modern Hotel is. When they sold the hotel off in the mid-2000's, that pool went with that building. Now, the swimming pool at the Ilikai is going to be on the amenity deck on the east side of the building. That's one of the perks about the Ilikai is at least you do have an amenity deck. It does have a swimming pool. We're going to get into the Ilikai Marina shortly after this and there is no swimming pool there, but you can rent them short term there. We'll get into some of the pros and cons there in a second.
Ilikai Marina at 1765 Ala Moana Blvd.
Ilikai Marina facing Ala Wai Boat Harbor
Now that we've covered the Ilikai, let's talk about Ilikai Marina. It's also an incredible building here on the border of Waikiki and Ala Moana. What it's got going for it is you can rent these units short term and there's a number of third party property management companies that can handle that. They have both a studio and 1 bedroom product. The units in this building are either going to face the marina or you have mauka facing views from other units within the building. It's a great location on the west side of Waikiki, with Ala Moana and Kakaako directly behind (to the west).
Ilikai Marina Restaurants
Unlike the main Ilikai, the Ilikai Marina doesn't have a lot of retail shops, but what it does have going for it are two amazing long time restaurant establishments. Both the Chart House, which is owned by Joey Cabell. Joey Cabell is a legendary surfer that owns (and started) the Chart House. There's great food and a great salad bar. They were known all across the country at one point. You've also got the Harbor Pub, which is a long time establishment for local residents. Especially, for those that are just coming off a long day on the water, with the marina behind us.
Summary
We've come full circle and we're back to the entrance to Hobron Lane to access both the Ilikai and Ilikai Marina. They're both fantastic buildings in their own right. The key takeaways is the Ilikai is a much larger complex. It does have a swimming pool. There's a lot more retail. You're going to have a lot more people going up and down elevators. The Ilikai Marina is going to be more of a boutique building with studios and 1 bedrooms. Whereas, the Ilikai has both 1 and 2 bedroom units.
Both properties can be rented short term and if you want more information on either the Ilikai or the Ilikai Marina, feel free to reach out and give us a shout. Mahalo!
