Today we're on location in Waialae-Kahala, because Waialae-Kahala came in the top 3 spots for the 4 major categories we track here on Oahu (1. Home Sales, 2. Median Home Price, 3. Condo Sales, 4. Median Condo Price). This is David Buck with Harcourts Island Real Estate here to give you the Local Neighborhood Report for June of 2021.
Local Report for Single Family Homes
First off, regarding the number of home sales here on Oahu, we saw the largest increase in Hawaii Kai, which was up 333% from 6 sales to 26 sales. Taking the number 2 spot was Waialae-Kahala with 7 sales in June of 2020 to now 20 sales in June of 2021. That's 186% increase. Taking the 3rd position down the road in Diamond Head-Kapahulu, we had an increase from 13 sales in June of last year to 32 sales this year, which was 146% increase.
Regarding the median home price, Downtown-Nuuanu took the number 1 spot with an 81% increase from June of 2020 to June of 2021. Last year it was at $828,000 and it takes $1.5 million to get in that market, as far as the median price goes. Waialae-Kahala also took the number 2 spot which was up 75%, just shortly behind Downtown-Nuuanu. That was $1,328,000 last year to get in this neighborhood. Waialae-Kahala once again is Kahala (proper) going up to Waialae Iki and Waialae Nui Ridge. Now to get in Waialae-Kahala, the median price is $2,3230,000. Coming in number 3 would be Kailua-Waimanalo which is up 43% and that was $1,075,000 last year to $1,535,000 this year.
The housing market is on fire and you'll see this trend as we jump into the condo segment here shortly that Waialae-Kahala is just on fire, whether it be single family homes or condo product.
Local Report for Condos
Now as we dive into the condo segment, I think it's appropriate we have the Kahala Regency behind us because once again Wailae-Kahala is in that top 3 position. As far as condo sales go, it took the number 3 spot going from 2 to 11 sales, which is a 450% increase, which may sound a lot, but believe it or not in the 2nd slot was the Windward Coast and that was up 800%, going from 1 to 9 sales. Kalihi-Palama was up 1800%! It's just crazy because in June of last year there was only 1 transaction that took place in Kalihi-Palama for condos. Fast forward to this year and we're at 19 sales!
Regarding the median sales price for condominiums on Oahu in June, Waialae-Kahala was also once again in the top 3, coming in the number 2 spot. The Windward Coast was number 1 with a 454% increase going from $65,000 to $360,000. Waialae-Kahala was up 83% going from $57,250 to $105,000. The reason why the prices were that low was they were taking place at the Kahala Beach Apartments, which are Leasehold. In 3rd place was the Ewa Plain which was up 41%, going from $446,000 to $629,000.
If you have any questions about the housing or condo market here on Oahu, feel free to reach out and see who we can help. Mahalo.