If you’re in the market for a new home, then you should consider Aiea, Hawaii as a potential destination. With its convenient location near Honolulu, breathtaking views, and endless activities, Aiea has a lot to offer its residents. Here are the top three reasons to live in Aiea, Hawaii.

1. Proximity to Honolulu Living in Aiea means having access to all the amenities of Honolulu just minutes away. This makes it easy to take advantage of the eclectic shopping, dining, and entertainment opportunities available in the city. There’s no need to worry about long commutes when its own attractions are just a hop and a skip away.

2. Ideal Location for Sports Enthusiasts Aiea is home to several great parks and athletic facilities. From soccer fields to basketball courts, swimming pools to futsal courts, the sports opportunities in Aiea are seemingly limitless. Whether you’re looking for something competitive or just a leisurely jog, Aiea has something for everyone.

3. Nature Enthusiast’s Paradise Aiea is not just known for its modern attractions. It’s also home to several natural gems. Just minutes away you can find the spectacular Halawa Valley, which is home to some of the most beautiful waterfalls on Oahu. Additionally, nearby Aiea Loop Trail offers miles of hiking trails and unrivaled views of the stunning Koolau Mountains. From its convenient access to Honolulu to its stunning natural attractions, Aiea has a lot to offer its residents.

If you’re looking for a place to settle down, then Aiea should be at the top of your list. With its variety of activities and beautiful views, there are plenty of reasons why Aiea is becoming increasingly popular as a great place to call home.

Aloha, this is David Buck and I'm here to give you a tour of my listing here in Lower Makakilo at 92-727 Aoloko Place. We're having an open house and the people are just about to start showing up. It's called place because there's a dead end cul de sac and it's a very quiet street.

Street Front and Entry

It's got great curb appeal. It has a vinyl fence for privacy. There's a 1 car carport. We love our veterans. We've got some storage here and a charger for an electric vehicle. As you enter, it is summer, so the grass is a little bit dry. One of the perks you'll see in a second is that it's just over 90 degrees out in August in Hawaii on the west side. The trades are blowing now, which is nice. However, once you get into the house, they have 5 split system air conditioning units, which run off PV with a battery backup. There's literally almost no electric bill because they are selling back into the grid.

Interior Space

I wish you could see this on camera, but the air conditioning makes you feel like it's not August in Hawaii. Here's 1 of 5 split systems here. You enter into the great room for entertaining and we've got dining up top. There's a junior suite bedroom off the left, then the dining room with ocean views and Diamond Head (views) out the back.

Out the window, there's a lovely hot tub to relax as well as BBQ in the afternoons. We've also got a nice outdoor space out the back. Once again, we're in the summer, so the grass is a little bit dry. We've got fruit trees off the neighbors yard with mangos and avocados and i believe a tangerine tree around the corner. 

You've got to love the decor and all of the special spaces they have in this home. What a great sense of place, being able to see the kitchen from the dining area (off the mirror). In the kitchen, you have a beautiful quartz island with a fact sheet on here. We're at a new price of $986,500. You also have a vinyl sliding glass door, vinyl windows, more quartz countertops, stainless steel appliances and this home is just ready to go!

When you go down the hall, you've got storage here off the left, bedroom #2 and all the rooms have split air. Then, you have your full bath #1. 

In the primary suite, you have another split air unit, vinyl window, a huge walk in closet off the left where you have an ocean view from the window. You've also got a newer bathroom. There's lots of upgrades as it was completely gutted and redone a few years back. 

Outside

You've got a covered porch you can hang out on in the afternoons. The sunsets are going to be out this direction. What I forgot to point out earlier is a kukui nut tree in the back yard. As you walk around the back walkway, there's beautiful ti leaves, compressor for the split system, battery backup for the PV,  They're basically selling power and hardly have an electric bill. There's front load washer/dryers on the outside.

What a great space - you've got a porch off the kitchen, step into another space and then you've got the hot tub with the ocean out the back. It's a great place to entertain and once again, the afternoon sun is going to be in the opposite direction. It will stay a bit cooler out here. 

There's a whole other level below with this bonus space with a workshop/storage or whatever you want to call it. It can't quite be a living area due to the ceiling height. It's almost like a basement in a sense. 

All of the neighbors seem to take loving care of their property. There's a cool walkway with plants and vegetation. Back around to the front of house, there's more storage underneath the carport. 

Recap

That's a wrap here at 92-727 Aoloko Place here in Makakilo. It's a wonderful home, just awaiting a new owner. If you have any questions, feel free to give me a call at 808-371-3509. Mahalo!

The windward side of Oahu saw the most strength this past month. This is David Buck with Harcourts Island Real Estate, here to give you the local market update for single family homes and condos on Oahu for July of 2023.

Local Update for Homes

First off, we'll jump into the home stats and Kaneohe saw a 21% increase in home sales, which was up from 14 sales in July of '22 to 17 sales just this past month. Two other neighborhoods on Oahu saw an increase in sales, four were unchanged and 2/3 of the neighborhoods on Oahu (14 of the 21 neighborhoods) saw a decrease in home sales year over year. 

Makakilo saw the largest increase in median sales price from July of last year to this past month. That was up 18% from a year ago and that was going from $930,000 to $1,100,000 now for a single family home in Makakilo. In the backdrop is a listing of mine in Lower Makakilo. We're priced at $986,500 and it's a great deal because we're under that median sales price of $1.1 million.

Local Update for Condos

Not only did Kaneohe see the largest increase year over year for single family home sales, the Windward Coast of Oahu saw the largest increase in condo sales. There, we saw a 200% increase, going from 1 sale a year ago to 3 transactions this past month. Three other neighborhoods saw an increase in sales and two had no change. Collectively, 15 of the 21 neighborhoods that the Honolulu Board of Realtors tracks saw a decrease in sales over the year. That's something we want to keep an eye on. That's a trend we've been noticing with a drop-off in sales volume and the number of deals taking place.

For our final category of median sales price for condos, Diamond Head - Kapahulu saw the largest increase. That was an outlier (by far). It was up 277%! In July of last year, the median condo price in Diamond Head - Kapahulu was $609,500. Now, it's at $2.3 million. A reason why is there's a lot of big trades that took place on the Gold Coast. There were a half dozen sales that were at $2.3 million or more. There was a trade at the Kainalu for $2.3. There was another at the Colony Surf. There were 2 total at the Colony Surf. There was a sale at La Pietra, another at 3019 Kalakaua (which is 1 unit/floor). Then, at the grand daddy of them all, at the Diamond Head Apartments, there was a combined unit that went for $5.5 million! 

That's a recap and hope you enjoyed the local market report here and hope you're having a great summer. We're now about mid way through August. Take care and Aloha!

Well, I can't believe July is already behind us. We're now well into August and I'm going to report today on the sales stats for July of 2023. This is David Buck with Harcourts Island Real Estate.

Single Family Home Stats

First, we're going to dive into the single family home stats. There, we saw a dip of home sales down 28.2% from a year ago. We had 312 home sales in July of 2022 and now there's just 224. The median sales price has dropped 1.6% (which is not a whole lot). That was going from $1,107,944. Now, we're at a median sales price of $1,090,000. 

Median days on market are continuing to increase. They're up 45.5%, going from 11 to 16 days. In that single family home market, we're seeing a lot less home sales taking place. However, we're not seeing too much of a change in median sales price, down just 1.6%

Condo Stats

Condos also saw a dip in the number of transactions (year over year), however we're not seeing that 30% + drop like we've been seeing over the past year and a half. However, condo sales were down 18.5% from a year ago. In July of '22, we had 518 condo sales on Oahu. Now, we're down to 422. The median sales price has not changed. A year ago, that was at half a million dollars and now this past month, we were still at $500,000.

Median days on market are continuing to uptick as well, which was up 33.3%. That was going from 12 days to 16 days. Condos priced well and homes priced well are continuing to sell. It's just that we're seeing a lot less sales taking place. We're not seeing a huge drop in price because sellers are continuing to hold. Because if they sell, they'll have to pay a higher interest rate on the next property.

Recap

Lack of inventory continues. There's a little bit of stagnation in the market, but prices are holding. We'll see what August has in store for us. If you have any questions, feel free to reach out and give us a call @ 808-371-3509. Mahalo

Aloha, this is David Buck with Harcourts Island Real Estate, here to give you the local market update for homes and condos on Oahu for the month of June, 2023.

Local Market Update for Homes

First off, Wahiawa saw the largest increase in home sales year over year. That was a 25% increase going from four sales a year ago to five sales this year. It's the only neighborhood that saw an increase in sales. Three neighborhoods were flat with no change and then every other neighborhood on Oahu was down regarding sales year over year. So stand by, I am going to jump into sharing with you which neighborhood in Oahu saw the largest appreciation in single family home price.

The median home price in Diamond Head was up 25%, going from $1,365,000 to $1,700,000 this year. Now, keep in mind that’s everything in the Diamond Head region of MLS which includes Palolo, Kaimuki, Kapahulu and similar neighborhoods you see here like Wilhelmina and Maunalani Heights, so not all of this is Diamond Head. To find a single family home on the market today in Diamond Head, there is nothing for sale under $4 million. But it's good to see that town and Diamond Head in particular is having some strength this past month in June. So stand by, we are going to jump into the condo stats.

Local Market Update for Condos

Now Kailua - Waimanalo has saw the largest increase year over year for numbers of transactions for condos. There, we saw a 14% increase, that was going from 7-8 deals in June of 2022 and 2023. There were two neighborhoods on Oahu that were flat with no difference in the number of sales year over year and then every other neighborhood on Oahu saw different transactions year over year. So, that's a trend we have been seeing across the board. Stay tuned, we will be back with the final and fourth category, which is condo appreciation on Oahu.

Now the median condo price in Waialae - Kahala was up 24%, and that was the largest gain across the board for Oahu, and that was going from $532,500 in June of 2022, to now $659,00 for the median condo price of condos here in Waialae Kahala. In the backdrop here you will see Kahala Towers, and Kahala Regency. As we talk about every month, every neighborhood is different. So to find out what's happening in your neighborhood, feel free to give us a call. Mahalo.

Hoakalei Development over 15 Years

Can you believe it's been over 15 years since they have been selling homes here in Hoakalei? I’ve been blogging about this community now over the last 13 years at least, talking about how this is such a cool development. Originally this Lagoon behind me was going to be a man-made Marina that has evolved over the years. Originally they started with Hoakalei, Ka Makana, then later Kipuka and Kuapaka. We have three major developments of single-family homes out here that came after Ocean Pointe, all of which were developed by Hasako in this master planned community. At one point they were talking about doing a hotel here. I'm not sure if that's still going to be the case, but you got this really cool setup here at Wai Kai Lagoon, where you can take out paddle boards, canoes, and kayaks. Behind me here is “Sessions” where you can go ahead and rent some time up here in the Wave Pool, we are going to jump into that in a second.

Wai Kai Wave Pool

Wave Pool at Wai Kai

So here we are at Wai Kai and Hoakalei and it's a pretty cool lifestyle here. Here we are at the Wai Kai wave pool, in Hoakalei which is pretty incredible. It's a standing wave, and you can see here people are just about to take off. It opened earlier this summer and it's a great place to jump into the water for those new to surfing. It’s also a nice spot to learn how to surf if there's not much on the South Shore this time of year but here we go! So now in addition to the golf course, Ernie Els Golf Course here in Hoakalei, we've now got this Wai Kai wave pool, and it's a really special place to enjoy life here in Hoakalei.

Ernie Else Golf Course at Hoakalei

Hoakalei Golf Course and Homes

Here we are at the Hoakalei Country Club directly behind me and this is an Ernie Els signature course. It's a private club however it is within the community of Hoakalei, and it's directly right across the street from Wai Kai where we just came from the wave pool. So if you stay tuned here, I'm going to throw up some stats just to see what's been happening in the real estate market here in Hoakalei. We will be throwing up some numbers between all three communities of Ka Makana, Kipuka, and Kuapapa. If you have any questions about Hoakalei real estate, give us a call. Mahalo!

Hoakalei Home Stats (July 17, 2023)

Active Home Listings in Hoakalei: 18

Average Sales Price (Past 6 Months): $1,205,659

Average Days on Market: 72

Homes Sold (Past 6 Months): 37

Current Listing Price Range: $999,000 to $1,820,000

This past weekend we wrapped up 4th of July celebrating the birth of our great nation. Today, I'll be discussing PCS Season, BAH Rates in Hawaii, VA loan activity on Oahu through COVID and VA Loan deals over $1 million on Oahu. However, before we start, I'd like to share a little treat with you.  For those of you that weren't here on Oahu this past week, here's my sister in law singing the national anthem at the Macfralane Canoe Regatta in Waikiki on July 4th.

Wasn't that pretty cool? I know a lot of the people I talked to at the beach after said it gave them "chicken skin". She did such a great job performing in front of a huge audience there at the Outrigger canoe regatta at the beach there in Waikiki. Another special thing about this event is there's an armed services division and every year they have a race off between all the divisions of the armed services here on Oahu. Going ini and out through the surf in Waikiki, it was fun to watch. Now we're going to jump into VA loans and some of the stats we've been seeing over the past 3.5 years since COVID started.

VA Loan Home and Condo Sales on Oahu Since 2020

As you can see from the chart here, VA buyers were a lot more keen on buying homes vs. condos early on in 2020. With the lockdowns here on Oahu, condo living was less desirable with all the restrictions and owners couldn't use the amenities they were paying for. In addition to that, home prices were much more affordable in 2020 than they are today. Rates were also much lower.

As the real estate market here on Oahu started to take off, we saw more buyers were gravitating towards condos due to affordability. Although transactions were fairly tight between home and condo sales throughout 2021, rates definitely started playing a factor and by the time we hit 2022, there were significantly more VA buyers acquiring condos than there were homes. Another factor we'll get into on the next chart is the cap on VA loan limits was removed on January 1st, 2020.

VA Sales on Oahu Over $1 Million

To compound the crazy real estate market we witnessed a few years back, was in 2019, President Trump removed the VA cap for home buyers. So, as of January 1st of 2020 there was no limit, as long as buyers could qualify to service the debt. I've since done many VA deals where the buyer got a loan over $1 million with 100% financing. As you'll see in this chart, VA home sales over $1 million far outpace VA condo sales over $1 million. Every quarter since 2020, we've only seen single digit condo sales, with the peak being in the 3rd quarter of 2022 with 9 transactions. In the 2nd quarter of this year, there were 5 VA condo sales over $1 million.

You'll notice those peaks in each year were around the 2nd to 3rd quarter during PCS season. If you're in the process of PCSing away from Oahu, now might be a good time to take advantage of that buyer traffic. For those of you looking to buy now, there's a lot more to chose from and a lot less competition than there was several years ago such as bidding wars, etc. For those considering buying on Oahu, Hawaii has always had the highest BAH in the nation. To see the latest check out the link below to the DOD website.

Need Help PCSing to or from Oahu?

I hope you found the information useful here. If you're looking to PCS to or from Oahu, feel free to contact me to see how I can help. Mahalo!

Home and condo prices on Oahu were down 4.5% from a year ago. This is David Buck with Harcourts Island Real Estate here to give you the monthly statistics for June of 2023. 

Single Family Home Stats

First off, we'll dive into the single family home stats. There we saw the median price for a home drop 4.5%. In June of 2022, that price was $1,100,000. Now, we're at $1,050,000. Sales volume is also continuing that trend of slowing down, which was down 30.5% regarding the number of transactions. We had 357 home sales last year and now we're just at 248.

Median Days on Market are also increasing, which was up 70%.That is going from 10 days a year ago to 17 days today. Stay tuned and we'll be right back with the condo stats.

Condo Stats

As I mentioned earlier, the median condo price was also down 4.5% from June of last year. Last year we saw a median price of $534,000. Now, we're at $510,000. Sales volume was also down for condominiums, going from 626 sales a year ago to 470 sales this year. That's a 24.9% drop.

Last, but not least, median Days on Market is increasing as well going from 11 to 18 days (63% increase). I hope you all had a great 4th of July. We'll be reporting on the local neighborhood reports (later this month). In the meantime, I hope you're enjoying your summer! It's a great time to get out there, whether you're buying or selling real estate.

The Windward Coast of Oahu showed the most strength for both homes and condo sales this past month. This is David Buck with Harcourts Island Real Estate here to report on the local market update for May of 2023 here on Oahu.

Local Neighborhood Home Stats

First off, we're going to jump into single family home sales and like i said earlier, the Windward Coast was hot. On the Windward Coast, home sales were up 50% year over year, going from 6 sales a year ago to 9 sales this past month. Waialae-Kahala was the runner up with a 10% increase. Meanwhile, Makakilo homes saw an 8% bump up in the number of transactions. Meanwhile, every other neighborhood on Oahu was either flat or down regarding the number of sales year over year.

Regarding the appreciation year over year for single family homes, Hawaii Kai took the cake. Year over year, that median sales price was up 8% going from $1,485,000 a year ago.. Now the median price for a home in Hawaii Kai is $1,600,000. Meanwhile, Kailua-Waimanalo saw a 2% increase in median sales price and there were 2 other neighborhoods on Oahu that were up just 1%. So, not a lot of homes are showing a year over year increase in sales price. However, there are some silver linings.

Local Neighborhood Condo Stats

As I mentioned earlier, the Windward Coast of Oahu saw the largest increase for both homes and condos. Now that we're jumping into the condo stats, the Windward Coast saw a 200% increase in sales year over year. That was going from just 2 transactions a year ago to 6 transactions this past month. Following the Windward Coast, Wahiawa saw 100% increase in sales year over year going from 3 to 6 transactions. Kailua-Waimanalo saw an increase of 38%. Those are 3 neighborhoods that did see an increase in sales. Meanwhile, every other neighborhood on Oahu was down regarding the numbers of transactions for condo sales on Oahu.

Our final category is condo appreciation here on Oahu and Waialae-Kahala saw the largest increase year over year. That was up 61% going from $375,000 a year ago to $605,000. Second place year over year was Diamond Head-Kapahulu, which was up 54% and Makaha-Nanakuli was up 21%.

As we talk about every month, every market is local. So to find out what's going on in your particular neighborhood, feel free to reach out and give us a shout. In the meantime, enjoy the rest of your June as we've got the 4th of July coming up right around the corner and God Bless America! Aloha.

Did you know that the median price for single family homes and condos on Oahu was down "just slightly" in the low single digit percentile from a year ago? This is David Buck from Harcourts Island Real Estate here to give you the monthly market report for May of 2023.

Home Stats

First, we're going to start off with the home stats and there we saw a 23.8% drop in the number of transactions. That was going from 344 sales a year ago to 262 sales this year. Now, we're going to jump into that single digit drop, which was 3.9% for the median sales price. The median sales price is still above $1.1 million at $1,109,000. However, a year ago we were at $1,153,500. That, once again is a 3.9A% drop.

We have seen an increase in the median days on market. which is up 110%. That was going from just 10 days a year ago to 21 days, which is still considered a seller's market. It's something we want to keep an eye on that things are slowing down with 23.8% less sales. But, things are selling. It's just taking them a bit longer to sell.

Condo Stats

Condo sales on Oahu took a slightly bigger hit. They were down 36.3% from a year ago. Last year we had 688 condo sales in May and now we're down to 438. The pricing was down 2.2% for median sales price. A year ago, the median sales price for a condo on Oahu was $516,500. Now, we're just at $505,000. In the big scheme of things, that's not real significant considering what's been happening with interest rates and what you hear about in the news. So, just a 2.2% drop in condo price.

It is taking condos longer to sell (similar to single family homes). It was up 100% year over year for days on market. But, that was only going from 10 days to 20 days. Keep in mind, those stats are what's actually selling according to the Honolulu Board of Realtors stats. As we know, there are both homes and condos that get listed for sale that get pulled off the market, so that skews the stats a little bit.

Summer Moving Season

Here we are in the first week of June heading into summer. It's exciting because we have a big moving season for both local people and both inbound and outbound domestic migration. We're also starting to see a little bit of international traffic come back to Oahu. More importantly, this is PCS season for our military. That's a big demographic we'll be seeing this summer buying and selling houses here on Oahu. 

Every market is different and if there's anything we can help you with here on Oahu, feel free to reach out to us.