Archive for September, 2009
Analysis of Core Honolulu Real Estate Statistics
September 2nd, 2009 categories: For Buyers, For Sellers
In past posts I have made a distinction between the core of Honolulu’s real estate market and the rest of the island of Oahu. Furthermore, for many reasons (see past post), as a Honolulu Realtor I believe that this core area will out perform the other parts of the island in appreciation. Every month the Honolulu Board of Realtors publishes its statistical analysis for the island of Oahu and in general things look good.
Overall we have seen remaining inventory of single-family homes drop to 1,624, this number compares with July and August of 2005 (1,604 and 1,658 homes respectively). Condominium inventory is down to 2,140 from 2,494 in January 2009. Note that at the end of July 2008 there were 2,753 Oahu condos for sale. This month I have taken a much harder look at the core area that I define as Kamehameha Heights through all of Hawaii Kai.
Here are a few numbers that you may not find reported. Read the rest of this entry »
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Honolulu Real Estate Core Value Strength Explanation!
September 1st, 2009 categories: For Buyers, For Sellers
As Honolulu Realtor, I can’t say that our market has not experienced a decline from the highs of 2005 and 2006. However, it seems core Honolulu houses and condos have fair better than the neighbor islands and other parts of the United States. Today’s Honolulu Advertiser is reporting that Oahu has the highest hotel occupancy rate of “the top 10 competitive international island destinations”, this may mean that Waikiki’s hoteliers have had to cut back less than the neighbor islands (Maui, Kauai, the Big Island and Molokai).
“While we ranked well against our primary global competitors, it is notable that most of our competitors are also suffering a similar magnitude in hotel industry revenue losses that Hawai’i has had to endure over the past 15 months,” said Joseph Toy, president and chief executive officer of Hospitality Advisors LLC.”
CLICK HERE TO READ THE ENTIRE HONOLULU ADVERTISER ARTICLE
Honolulu has a healthy tourism market, but it also has a much more diversified economy than other parts of Hawaii. We have military bases, the seat of State and Federal Governments for Hawaii, banking, the home for much of Hawaii’s large professional services companies, hospitals and much more. As a result Honolulu’s multi-faceted economy is in a much better position to withstand a sector that has a particularly rough period. So how does this impact real estate market?
Core Honolulu’s real estate market is robust in the segments that a local buyer can purchase (homes under $1,000,000 and 2 bedroom 2 bathroom condos around $500,000) and much of this strength, in my opinion, results from a broad and diversified economy.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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