O'ahu Market Update March may have marked the month of divergence. The demand and supply indicators for homes and condominiums are moving at different speeds.  Home prices were relatively flat as compared to last year, while condominium/townhome prices dropped compared to last year. New listings for sale for homes were flat while new listings for condominium/townhomes increased by 22.1%. Closed sales or demand for condo/townhomes dropped by 22.5% while homes hovered near flat, moving down just 2.5% or 6 sales less than the year prior. If this trend for condominiums/townhomes continues, bu ..read more

Nestled in the heart of downtown Honolulu rises a striking new addition to the city's skyline - Modea, a contemporary mixed-use community carved out of the former Davies Pacific Center office tower. Slated for completion in 2025, this adaptive reuse projectby Avalon Group brings an invigorating urban oasis vibe to Honolulu's urban core. Rising 22 stories above the corner of Merchant and Bishop Streets, the reimagined Davies Pacific Center balances a respect for the building's nearly 50-year history with an infusion of modern tropical design. Award-winning local firm Lowney Architecture leads ..read more

2023 O'ahu Real Estate Market Recap   Executive Summary: The year 2023 witnessed a dynamic real estate market in Hawaii, characterized by a tumultuous start followed by a gradual recovery. The surge in mortgage interest rates at the beginning of the year led to a significant dip in buyer demand, resulting in a more than 50% decrease in closed sales for both homes and condos compared to the previous year. However, as the initial shock waned, the market experienced normalization, with interest rates returning to their 2022 levels by November. Market Trends: Sales Performance: The ..read more

O'ahu Market Update The holiday season brings us together and cultivates joy and hope for the future. Similarly, the Hawai'i real estate market is showing signs of hope and joy for buyers and sellers in different ways. For example, on average, buyers who purchased homes last month enjoyed a discount of 2.9% as compared to the list price. Condo and townhome buyers enjoyed a discount of 2% last month. Buyers were also able to take their time shopping for a home because the median days on market for those properties that sold were 29 days for homes and 23 days for condos. A huge contrast compare ..read more

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Pumpkin Butter Mochi Recipe Ingredients     1 16 oz. box mochiko     2 cups sugar     2 tsp baking powder     2 tsp pumpkin pie spice     1/2 tsp cinnamon     1 tsp salt     4 eggs     1 29 oz. can pumpkin puree     1 14 oz. can sweetened condensed milk     1 cup butter (two sticks) melted     2 tsp vanilla   Instructions     Preheat oven to 350 degrees F and grease a 9×13" baking pan.     In a large mixing bowl, whisk mochiko, sugar, baking powder, pumpkin pie ..read more

O'ahu Market Update  Every month, we dive into the numbers and hope that they tell us a story of what happened and what will happen. Last month, prices shifted upwards because the drop in homes for sale was greater than the drop in demand for those homes. When there is less inventory as compared to demand, prices rise. In October, we saw pending sales drop by 3% while active inventory dropped by 4.6%. The result was an increase in both the median price and the average price for single-family homes. The median price rose to $1,100,000 a 4.8% increase, and the average price jumped to $1,304 ..read more

Gentry Homes is bringing a fresh addition to the quickly developing Kalaeloa community with 390 new homes, comprised of both single-family and townhomes. This includes 89 HCDA Reserved Housing units, which likely will be sold via lottery to local residents that make under 140% AMI. Kaulu by Gentry is already under construction with sales likely to start in November.  Click for 360° View of Ka'ulu Pricing Initial pricing looks to be starting from low $600k's for the 2 & 3 Bedroom townhomes, and starting from the low $900,000k's for the 3 Bed 2.5 Bath Single ..read more

O'ahu Market Update We continue to move towards a balanced market, where neither the seller nor the buyer has a negotiating advantage. The Months of Supply of Active Inventory from the Honolulu Board of Realtor’s Monthly Statistical Report, is an indicator of the balance between supply and demand. For homes that sold last month, that figure was 2.7 months (3 months for condos), which means, at the current rate of sales, if no additional homes were listed on the market, inventory would be sold out in 89 days (90 days for condos). Additionally, sellers received 99% of their listing asking price ..read more

O'ahu Market Update The rate of home sales and the rate of new homes coming on to the market has begun to converge. As a result, prices have increased. During the month of August, pending sales were down 14.4% for homes and 10.5% for condos. New listings on the market dropped by 13.4% for homes and 9.7% for condos/townhomes.  This dynamic may continue until we see mortgage interest rates drop or prices go down. Sellers continue to enjoy a market where prices are stable and homes sell within 3 weeks if priced near recent comparable sales. The sales price to list price ratio of 99.1% for ho ..read more