We are very appreciative for our great clients and network of friends and colleagues who have done business with us and referred our services to others. As a result, our business continues to grow! The properties above represent the wonderful people we were able to work with and successfully close with in 2014. THANK YOU for contributing to our success in Real Estate!
The Hawaii Kai Boat Parade was another success this year. There were some awesome boats and lot of creativity that went in to this special event held just prior to Christmas every year.
This year's winner had a Beatles theme with some friends on board
I had the opportunity to view the event again from some friends/past client's place at Kuapa Isle. It turns out some other friends of mine were on the float that ultimately won. They had a Beatles theme and played live music as they strolled along. That float seems to outdo themselves every year and has a long winning streak (and deservedly so) of titles.
Here's a feel of some of the other boats we got to see that night:
Now that 2014 is under our belt, I look forward to what next year has in store. If you're interested in either competing or having a front row seat, here's what's available for sale on the marina in Hawaii Kai.
So far in 2014, our company Hawaii Life Real Estate Brokers has brought in more Buyers for homes over $1.5 million in Beachside, Kailua than other other real estate firm on Oahu.
The following breakdown are the sales and firms that brought in the Buyers:
Hawaii Life
1. March 27, 2014 - 140-B N. Kalaheo Ave.
2. March 31, 2014 - 420-B N. Kalaheo Ave.
3. November 20, 2014 - 104 S. Kalaheo Ave.
Prudential Locations
1. April 24, 2014 - 127 Kailuana Pl.
2. May 28, 2014 - 112 S. Kalaheo Ave.
Coldwell Banker
1. February 28, 2014 - 148 Kaimoani Way
2. October 8, 2014 - 522 N. Kalaheo Ave.
Choi International
1. October 14, 2014 - 139 Kailuana Pl.
2. October 24, 2014 - 572-A N. Kalaheo Ave.
There were a handful of other firms that brought in 1 Buyer. To find out more about how we're bringing in Buyers in Beachside and other neighborhoods on Oahu, feel free to contact us for more information.
Nevin and Elizabeth Bryant, Honolulu, Hawaii
We have known Dave for a number of years through our daughter. We expressed our interest in purchasing a condominium in Honolulu near our daughter's family after I retired. This was some years ago. David never tried to push us into a sale, but rather helped us for over 5 years to help him determine the kind of condominium we would eventually purchase.
When we arrived in Honolulu in the fall of 2014, David worked hard to find the kind of condo we would like, even going the effort of sending letters to all the residents of Kuapa Isle complex to determine if there were potential sellers in what had become a very tight market. David worked hard at finding suitable condominiums, and made sure to structure a bid on those that we might like to own in a persuasive manner. As it turned out, David's approach to our purchase bid for the condo we eventually bought was well managed and well timed. After the sale David continued to help us by recommending highly qualified painters, floor construction and window replacement contractors to help us quickly move in. We recommended Dave as a Realtor of high integrity unreservedly.
Last year I wrote an article on Aloun Farms' Pumpkin patch, Honolulu's rail and DR Horton's Hoopili development in West Oahu. I had the opportunity to accompany my children on their excursion again this year. It was a blessing to be with them again and also sad for two reasons. First, they are growing up and won't be able to do this forever. Second, this annual trip for most Oahu schools won't be around forever if development plans continue.
Aloun Farms' Pumpkin Patch is always a hit around Halloween
Since my trip out here last year, there's definitely been progress on the rail. Last year you could only see the pilings being laid, whereas this year the main rail members are connected. I have to admit, it was kind of eerie driving through an agricultural field with a concrete rail running through it.
Rail pilings have now been formed into a track in the Ewa Plain
I guess I'll have to enjoy this snapshot in time when my kids are young and get to enjoy things such as a pumpkin patch in agricultural land. I'll also have to enjoy and take in this open space as well while it lasts as there's no telling what this will look like 10 years from now? Tracts of homes with a high speed rail running through it?
Rail beyond the farm where families and children enjoy the pumpkin patch
We have to make the best of these times before the seasons of change reshape west Oahu...
Bruce Sansone, Corona Del Mar, California
I live in California and David's expertise in the area was invaluable to myself and my wife Emily. We made the initial offer before viewing the property at the Ilikai, here again, his personal description of the property along with pictures he took the time to take, made us very comfortable in making the initial offer and decision.
Upon arrival, he took the time to thoroughly review our offer and show us the property, which was beyond our expectations. In fact we were so impressed with his services and attention to detail, we recommended my sister and brother-in-law to David. They in turn, also purchased a unit in the Ilikai from David.
When we visit, we feel as though we have a friend on the island as David has extended his friendship to us. Without a doubt, our next purchase will be with David Buck.
Whenever searching for real estate online, there's a good chance you've come across Realtor.com, Trulia and Zillow.
Realtor.com, Trulia and Zillow are the 3 Largest National Real Estate Portals
What those 3 sites have in common is they are in most of the major real estate markets across the United States. We in the industry like to refer to them as "portals". They aggregate listings that are syndicated from all kinds of sources. I'll be honest, I have my profile on all 3 and use all 3 when searching for real estate outside of Hawaii. They are a decent "starting point". Of the 3, I'd have to admit I'm most loyal to Realtor.com as it was founded by Realtors and has been recognized as the official site of the National Association of Realtors.
Unfortunately all 3 sites have the same business model - to Sell Advertising. They can be a decent place for those getting started in their search. However, knowing what I know as a professional, here are 3 Important Reasons Not to Search on Realtor.com, Trulia and Zillow when looking for Hawaii Real Estate:
1. Advertising. As I mentioned, all 3 sites are based on advertising - primarily to Realtors. They use our info. and then sell it back to us to put our face and contact info. on there. They also sell ads to all sorts of other businesses that have nothing to do with looking for a home - supermarkets, moving companies, insurance companies, software companies and more! It clutters the space and impedes on the consumers ability to find what they are looking for - real estate.
2. No Differentiation or Filter for Leasehold Properties. If you search on a local real estate website (such as this one), there's a good chance you'll be able to tell the difference between Fee Simple and Leasehold properties. The national portals above have no differentiation between the two. You'll see leasehold properties intermingled with fee simple ones and often times, they are the ones that look "too good to be true." On those sites, the consumer can't filter the leasehold ones out or even be able to tell the difference.
3. No Way to Check Status of a Listing. On the national portals, listings show up online until they either sell, expire or are withdrawn. Some of them still show properties after they sell! When using a local site (like this one), you have a good chance to see whether a property is available or under contract/in escrow under the "Status" field. It is there you can see whether a property says Active or Active Under Contract, which are the terms our local MLS uses.
These are just some of the many reasons to use a local real estate website when searching for property in Hawaii. Even more important, Realtor.com, Trulia and Zillow do not live on Oahu nor sell real estate here. I on the other hand DO :)
William Seeley, Honolulu, Hawaii
Working with David was a wonderful experience. I'm sure he was busy as the rest of us but when he was working with me he seemed to have nothing else on his mind. He listened carefully to my requests and made sure that was the direction we went in. Whenever I requested changes he quickly made the changes and we moved forward.
He was very aware of the market that I was focused on and was able to show me properties I was interested in. He didn't waste my time or his trying to guide me towards something I had not requested.
As I always do, I checked out David and quickly decided he could be trusted. As it turned out he wasn't willing to compromise his integrity for anyone.
With the median sales price of homes on Oahu hitting $700,000 last summer, there's been a lot of concern about affordability for buyers in the marketplace. While this is understandably so for your average home buyer, our luxury market could have a ways to go.
Kahala's priciest listing (MLS # 201400491) for $22 million
Back in the "Japanese bubble" of 1987-1991, it was common place for homes to sell north of $20 million in Kahala. With a new era of Buyers coming in to the marketplace and purchasing homes from Alexander and Baldwin's portfolio, Kahala is back on an upswing. A number of those transactions took place privately last year, so not much is reflected on the books in MLS yet for 2014. By this time last year, we had four closings above $10 million for a total of 7 on the year. So far this year, we've only had 1 in Lanikai that sold for $11,845,000 in June.
Although the "high end" has been a little bit slower this year, there are other luxury markets across the United States that are cranking. I recently received a market update from a colleague of mine in New York City- Louise Phillips Forbes with Halstead Property. Here are some of the highlights from her summer update:
Here's a chart to put things into some perspective when comparing New York's market to ours:
The red bar shows our true numbers. Currently, there are 24 home/condo listings on Oahu at $10 million or higher. We currently have none (showing in MLS) under contract at that price. So, one could make the argument that New York's population is 10 times more than ours, so I adjusted our inventory 10 times. Although that puts our high end inventory closer to theirs, it in no way compares to the number of properties they have under contract north of $10 million! This is another reason I see Honolulu real estate prices are still a bargain.