Oahu Real Estate News & Market Trends 

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings and new project construction. That’s because we care about the community and want to help you find your place in it. Our blog posts are straight forward and we won't sugar coat anything as we feel you ought to hear what you need to know and not what you want to hear. As always, please reach out if you have any questions at all. We would love to talk with you!

Sept. 6, 2019

Ililani Market Units - Just Announced

Ililani Market Priced Units - Starting Soon - Register Here

Ililani

After a very successful launch of the affordable units at Ililani in Kakaako, Ililani just announced their market unit release for 163 two bedroom units. Prices will range from $700,500 to $905,500 and it will be open to owner occupants and investors within the coming month via lottery. All owner occupants who are interested need to submit a notarized owner occupant affidavit by 5pm on October 5, 2019. All units will have higher end appliances and features compared to the affordable units but will have the same counter tops, flooring, cabinets, and carpet. 

If you are interested in getting an affidavit, learning more about the project, or are interested in viewing the showroom, be sure to register using the button below. Owner Occupant Units will be offered via lottery. Units that don't sell during the first 30 days will then be opened to investors. 

Ililani Market Unit Price Sheet

Posted in New Projects
Aug. 24, 2019

Ililani Affordable Housing Final Application Count

Today marked the last day to turn in applications for Ililani's Affordable Housing

Ililani in KakaakoIlilani officially launched their project on July 26, 2019. This new Kakaako project set aside 165 out of 328 to go towards affordable housing with 1 bedrooms ranging from $312K-$583K and 2 bedrooms ranging from $372K - $657K.

The application submission for affordable housing went by very fast. This project only accepted applications for a 30 day period (July 26 - August 24). 

In total, there were 566 Applications submitted to the sales center.

These applications will now be reviewed by HHFDC over the next several weeks and those applicants will be issued an approval or rejection letter. Then there will be a lottery followed by unit selection. Stay up to date for updates on Ililani as well as the market units which will be released very soon. 

Learn More About Ililani

If you are interested in registering to be a backup for the affordable housing register here to be kept up to date on Ililani and all new projects.

Ililani Affordable Housing Price Sheet

Official Ililani Affordable Housing Price Sheet
Posted in New Projects
July 26, 2019

Ililani Affordable Housing

Just Announced - Ililani Condo (Hawaii's Newest Affordable Housing Project)

Ililani

With the strong demand for affordable housing, I am pleased to announce that my company will be the exclusive broker for the Ililani Condominium that will feature 165 Affordable Housing units comprising of (131 1-bedrooms and 34 2-bedroom units). The rest will be market units and will all be 2 bedrooms (163 market 2 bedrooms). With this project, there will be no market priced 1 bedrooms. This project will be an HHFDC affordable housing project and will be subject to a 10 year occupancy term and Shared Appreciation Equity (SAE). Click Here for more information on the affordable requirements.

Starting Prices will start at $312,600 for a 1 bedroom and $372,500 for a 2 bedroom. On the high end the top affordable 1 bedroom price will be $583,800 and the top affordable 2 bedroom will be $657,100. You may view the official Ililani Price Sheet Here

If you are interested be sure to register using the button below. Affordable applications will be taken for 1 month and will be due on August 24 by 5pm

Posted in New Projects
July 23, 2019

Victoria Place - Ward Village's Seventh Tower

Ward Village's Victoria Place Just Announced (7/23/2019)

Victoria Place

Victoria Place is Ward Village’s newest front-row Ultra Luxury condo tower. It will be located right next to Waiea and the Victory Ward Park on Ala Moana Blvd.

This 400 foot tower will have 350 units and be comprised of 1, 2, and 3 bedroom units. This tower will be replacing the once slated Gateway Towers (a twin tower building that would have had 236 and 125 units in each tower) designed by architect Richard Meyer. By replacing the twin tower building, Victoria Place allows for a smaller foot print making more room for the Victoria Ward Park which will be part of the Central Plaza Park across of Auahi Street.

Ward Village Map

According to Todd Apo from the Howard Hughes Corportion, Victoria Place will not have any commercial retail space like their past 6 towers. Victoria Place is designed by Solomon Cordwell Buenz who also designed Anaha and Aalii. Sales have not yet started and the official release is yet to be announced. We are expecting sales to start at the end of 2019/early 2020.

July 9, 2019

Koula Ward Village - Ground Breaking Ceremony

Koula Officially Breaks Ground - 7/9/2019

Koula Ground Breaking Ceremony

Today marks the official ground breaking ceremony for the sixth tower at Ward Village - Koula. City council members, Howard Hughes officials, and key state figures are shown above for the Hawaiian blessing and ground breaking for Ward Village's newest tower. Units are still being sold. If you are interested REGISTER YOUR INTEREST HERE.

 

Posted in New Projects
June 19, 2019

Sales Starting for Hawaii City Plaza

Hawaii City Plaza Owner Occupant Sales - Lottery begins on July 18, 2019

Hawaii City Plaza

Hawaii City PlazaHawaii City Plaza has just announced that their owner occupant release of 74 units will take place on July 18, 2019 at 10am. Applications are now available and are due on July 17 at 5pm. 

There will be 74 out of 184 units available and will consist of 1 or 2 bedroom units. There will be 9 different floor plans and different kitchen and flooring choices to choose from at no extra charge. 

There will also be certain incentives and discounts given during this release. Any 2 parking unit that opts for a tandem stall will receive a $20,000 discount applied towards closing costs. For more specs, floor plans, and information, please visit the link below:

Learn More About Hawaii City Plaza

View More
Posted in New Projects
June 13, 2019

Koula at Ward Village Groundbreaking on July 9, 2019

Koula at Ward Village Groundbreaking - July 9, 2019

Ward Village KoulaHoward Hughes' Ward Village in Kaka'ako has definitely been a booming area when it comes to new construction. Today it was just announced that they will officially break ground for their 6th high-rise tower on June 9, 2019. The tower is expected to be completed sometime in 2022.

The building is still currently selling pre-sale construction units and has a decent mix of studios, 1 bedrooms, 2 bedrooms, and 3 bedroom units. Should you be interested in learning more or would like to get a unit, be sure to register on the button below. 

Register My Interest For Koula

The developer has also just released three brand new renderings of Koula's amenity area. Shown below is Koula's swimming pool and pool cabana area, Koula's exterior gathering areas, and Koula's state of the art fitness center. Koula Pool


Koula Amenity Deck


Koula Gym

June 8, 2019

Ilima at Hoopili and Aulu at Hoopili Announces Their First Lottery

Official lottery prices just announced for Ilima and Aulu at Ho’opili. Lottery applications due June 14 and the first lottery to be held on June 15.

ImageWhen it comes to new construction projects, you can always expect to find something at Ho’opili. Just today it was announced that there will be 2 lotteries for the June 15th weekend. One will be for Ilima at Ho’opili (a new 2-story townhouse phase with private fenced in yards) starting in the high $500,000s and the other will be Aulu at Ho’opili (a new detached single family home release). starting in the mid $600,000s.

 

Aulu at Ho'opili
Aulu at Ho'opili
Aulu at Ho'opili
Interior Pictures of Aulu at Ho'opili

If you are interested in entering the lottery, you need to submit a completed application by June 14, 2019 by 5pm. Register here to be kept up to date and to submit an application for this summer’s newest release at Ho’opili.

 

Ilima at Ho'opili
Aulu at Ho'opili
Official Price Sheets - Ilima and Aulu at Ho'opili
Posted in New Projects
June 6, 2019

Honolulu Housing: The Last Century by Paul Brewbaker

Educational presentation by Economist Paul Brewbaker at Ward Village

From Paul Brewbaker’s presentation for the Howard Hughes Corporation

If you live on Oahu and vaguely follow what’s going on in the local economy, chances are you have heard of Paul Brewbaker. Paul is one of the best economist on the island and is Principal of TZ Economics (a Hawaii economics consultancy) and former Senior Vice President and Chief Economist at Bank of Hawaii.

Now, while his presentation may seem like a flash-back to college economics 101 for some, his delivery is unlike any college class. He’s local, funny, bright, and very insightful. Some of the more interesting items he went over was the prediction of how likely the U.S. would have a recession.

Odds of there being a recession | NABE survey by Economists

Another interesting aspect that focuses more on Hawaii Real Estate is how home sizes have dramatically changed. It was stated that people would choose the largest home among a neighborhood of smaller houses, rather than the smallest house in a neighborhood of larger houses, even though the second (the smallest house among larger houses) is larger than the first (the largest house among smaller houses) — This is an example of Behavioral Economics.

I thought it was very interesting that the average household size fell in size. Back in the 1930’s the average household size was 5 people, but now it is 3 or less people. Yet people still a vast majority of people want larger homes - a bit counter-intuitive if I must say so. 

It's no surprise that Oahu has been known to have a housing shortage; as we technically need 3500+ homes per year but have historically been only issuing approximately 1500 permits per year — meaning we have been falling short of 2000 homes per year. If you look at the graph below you will see that we are essentially building as many homes as we did back in the 1920’s. I know we are on an island and land is a commodity, but maybe we should lessen the “red-tape” on permits and make it easier to build. Otherwise we will continue to see locals moving away. I guess only time will tell.

90 years of new Oahu Home-building | Picture Courtesy of TZ Economics

Posted in Market Updates
June 2, 2019

Ho'oulu at Ho'opili | Release #3 - Applications Due by 6/7

Just Announced - Ho'oulu will have its 3rd lottery on June 8

If you are looking for a brand new single family house in Kapolei/Ewa Beach you may just want to test your luck out on the lottery for Ho'oulu at Ho'opili.

Ho'oulu at Ho'opili Ho'oulu at Ho'opili

No where on the west side can you find brand new single family homes at this price-point. Starting in the low $500,000s you can get a new home without having to pay any maintenance fees! This phase has 6 homes and applications are due on June 7 at 5pm. Sign up below if you are interested and don't worry if you don't get lucky on this release as there will be more to follow! Click here to learn more about Ho'oulu and all other releases at Ho'opili. 

 

Ho'oulu at Ho'opili Price Sheet

Posted in New Projects