Wednesday, December 28, 2016
Just a quick note to let you know I have moved to Coldwell Banker Pacific Properties. I am looking forward to working the great team at CBPP!
Tuesday, December 20, 2016
D.R. Horton is getting VERY close to opening its sales for Ho'opili... a well-planned, green community in Ewa with great opportunities for first-time homebuyers and those who have long been hoping to own a single family home. Watch this blog for updates and details on how to get in the best position to buy.
Almost 300 homes are in the first phase and construction began in September. Delivery of the first homes is expected this coming summer.
Ho'opili hasn't been without some controversy. The transition of agricultural land to homes and roadways doesn't sit well with everyone. And I would agree that it would be ideal if all 1600 acres of the Ho'opili project could be used as farm land. As planned, almost 200 acres will remain agricultural with both personal and community farms. But we are in desperate need of housing and homes need to be built both in town and in Ewa. Ho'opili will provide thousands of homes and at least 30% will be affordable. Also, and this is an important point, the market priced homes will be reasonable in cost by Hawaii standards.
In town right now, in addition to what's already under construction, there are 8 high-rise towers in the works. All of the inventory in Franco Mola's project in McCully will be affordably priced, ranging from $236k to $378k. Howard Hughes is planning a high rise in Kakaako that will have more than 700 units ranging from 300-900 square feet and indications are they will be reasonably priced. Certainly less than the high-end units in Waiea and Anaha.
As for the other 6 buildings, about 20-25% of those condos will be affordable with much of the remaining inventory either hotel rooms or condo-tel units. But buildings like Kapiolani Residence Tower Two will have reasonably priced market value units.
As for Ho'opili, I think it's a pretty good balance, providing much needed housing in communities that are more green and sustainable in nature than pretty much anything else out there.
I will do my best to keep you updated on the new developments, their inventory mix, and pricing.
Wednesday, November 23, 2016
Happy Thanksgiving! I hope you are taking some time to spend with friends and family this holiday weekend.
Not one, but two new developments confirmed yesterday by Duane Shimogawa of Pacific Business News.
Developer Franco Mola filed a $35 million dollar permit for a new high-rise in McCully. The PBN story says, "The 113,600-square-foot Ohana Hale project at the corner of Pumehana and Algaroba streets will include studios and one- and two-bedroom units. Prices will start at $236,250 for the studio units and go up to $378,113 for two-bedroom units." Pre-construction sales could start soon. PBN subscribers can read the entire article here.
Shimogawa also reports that Chinese developers plan to build a 400 unit, mixed use high-rise at the corner of Keeaumoku and Makaloa across from Walmart. The building will have affordable and market priced units. The developer presented its plans to the Ala Moana-Kakaako Neighborhood Board last night. No mention of when sales would begin. Read the full PBN article here.
Re-sales for The Collection are starting to pop up on MLS. The building is in the process of closing and recording sales at the Tower and Loft portions of the project. The developer still has Town home inventory to sell. Click here for a look at one of the re-sales listed. It's a 2 bedroom 2 bath with 870 square feet offered at $798,000.
Howard Hughes Ward Village high-rise Waiea is also seeing its first owners move in. Others are flipping. Click here to see one of 17 Waiea re-sales on the market. Prices range from just under $2 million to $36 million.
Be well. Drive safely over the holiday weekend.
Sunday, November 13, 2016
Aloha and good morning! Happy Sunday!
Here are a few of my favorite open houses available for you to visit today...
Kahala (under $2mm)
The Honolulu Board of Realtors just released the October report on single-family and condominium re-sales on Oahu. Compared to October a year ago, median sales prices were up for SF homes and condos, 3.1% and 7.0% respectively. The number of closed sales was up 7.0% for SF homes, but down 5.7% for condos. To read the entire report, click here.
An article in Friday's Pacific Business News highlighted the increasing popularity of West Oahu for military and first home buyers. A recent report from the Honolulu Board of Realtors showed the median home price on Oahu for single-family homes in September increasing by 2.7% from the same month last year to $750,000. But in the West Oahu community of Makakilo, that increase was 29% from $567,500 to $732,000. In September, Makakilo buyers paid 102.4% of the original asking price. If you are a PBN subscriber, you can read the entire article here.