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!

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

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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 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
June 1, 2019

Aulu at Ho'opili | Sales Starting Soon

New Single Family Homes Coming to Ho'opili Starting in the $600,000s 

Aulu at Ho'opili

Aulu will be the newest phase in Ho'opili and will feature one and two-story single family homes with garages. They will range in size from 1108 - 1807 sq ft and will have approximately 8 different floor plans and be similiar to their Iliahi release. There may even be options where owners can add an ADU unit. Stay tuned for more info. 

Aerial View of Ho'opiliHo’opili will be located on the Leeward (West) side of Oahu and will essentially connect Ewa Beach to Kapolei. This master-panned-community consists of approximately 1,500 acres and aims to have approximately 12,000 homes. D.R. Horton, the developer, plans to have a mix of single family, condos, townhomes, and mix use commercial units. There is also plans for new schools, parks, and community centers. Ho’opili will be a thriving community and is also close to the beach and Ka Makana Ali’i Mall that has a variety of entertainment, dining, and shopping.

*Sales Starting Soon - Sign up below to enter the lottery so that you don't miss out*

Posted in New Projects
May 24, 2019

The Cottages at Mauna'olu - New Single Family Homes Coming to Oahu

When people think about the Makaha neighborhood of Waianae on the west side of Oahu; most people think about a long commute or an area that has yet to be developed. What most people are unaware of is the beautiful pristine beaches, hiking trails, and a private gated community located in the back of Makaha Valley — where the Cottages at Mauna’olu will be located.

Mauna’olu will consist of 118 Single Family Homes and will be developed by Stanford Carr, the same developer who completed Keauhou Place in Kaka’ako

Cottages at Mauna'oluThe Cottages at Mauna’olu will have 7 different home plan options that will range from single family homes to two-story homes and will be 1747–2429 sq. ft. All homes will have enclosed garages, fenced backyards, covered porches, walk-in closets, 9 foot high ceilings, and much more. This will also be in a private gated community and owners can expect a fitness/rec center and swimming pool.

Site Map

Cottages at Mauna'olu Site Map - Click on the picture above to get a larger view
Posted in New Projects
May 17, 2019

New Project Coming to Kaka'ako

Ililani in Kaka'ako | Coming Soon

When it comes to new projects, Oahu has been quite the hot-market for new construction. It has been very common over the last few years to see the Oahu skyline full of towering cranes and we have seen project after project come and go. While it is true that some projects don't sell out as quickly as others, it is no mistake that the projects geared towards locals sell out very fast!

Watch this 59 second video to get a quick overview of Ililani in Kaka'ako

Ililani will be the next high-rise condo to come to Kaka'ako. With 328 units and just about half of them will go towards Affordable Housing. There will be 4 commercial retail spaces below, an amenity deck, and even a ride-share program that units may utilize. More information will be coming soon but feel free to SIGN UP HERE TO RECEIVE ILILANI UPDATES as they become available

Posted in New Projects
May 14, 2019

Ke Kilohana in Ward Village

Ward Village's 4th Tower - Ke Kilohana - Set to open tomorrow

After initially going on sale in 2016, Ke Kilohana is finally ready to open it's doors to the newest owners of Ward Village - Howard Hughes' 60 acre master planned community. Ke Kilohana will have 4 bulk closings on May 15, May 23, June 5, and June 20. Enjoy the video below to take a sneak-peak at the newest condo to open it's doors in Kaka'ako.

 

Posted in New Projects
April 7, 2019

New Ho'opili Release - Ho'oulu | Starting in the low $500,000s

Ho'oulu at Ho'opili

If you have been looking for a new Ho'opili Single Family Home release, you may be in luck! Ho'opili has just introduced Ho'oulu at Ho'opili which has an amazing price point and is almost unheard of in Ewa Beach. Plus this release has NO Maintenance fees which is a first for Ho'opili.

2 and 3 bedroom new single family homes starting in the low $500,000s!

Sales will begin soon and will be via Lottery. Be sure to register down below so you can be entered into the lottery. If you miss the first one, don't worry, there will be other releases in Ho'oulu so register to be kept up to date!

Hooulu Price Sheet

Price Sheet for the first Ho'oulu at Ho'opili Release - Stay Tuned For Future Releases
Posted in New Projects
March 28, 2019

New Projects | Sky Ala Moana and Ililani in Kakaako

Are you looking for a Fee Simple affordable housing project in a new construction building? If you missed out on The Central Ala Moana's affordable housing release, you may just be in luck. There are two new projects that will both have an affordable housing component. Those two projects are: Sky Ala Moana and Ililani in Kakaako. 

Sky Ala Moana
Sky Ala Moana
Ililani in Kakaako
Ililani in Kakaako
Of the two new projects, Sky Ala Moana will be announced and opened to the public first. Then Ililani will occur later in the year and is expected to launch after the middle of the year but may end up going into the 3rd to 4th quarter. For Sky Ala Moana, market and investor sales will occur before the affordable housing sales. Ililani is expected to follow in a similar order where they focus on selling the market units first, then the affordable units (This is to prevent potential buyers from trying enter the affordable lottery, then if they do not get in, they buy a market unit).

A Quick Comparison of the 2 new projects

Sky Ala Moana

  • 474 Units + up to 300 Hotel Units (2 Towers)
  • ​390 Market Units + 84 Affordable Units for sale
  • Breakdown of Affordable Units (60 studios, 6 one beds, and 18 two bedroom units)
  • No access to amenity deck
  • State 30 year Affordable Housing Program. Will be reduced in years if units do not sell within certain periods of time. (new info to come)
  • Market Units to be sold first followed by the affordable units
  • Affordable Maintenance Fee and Price: TBD
  • Neighborhood: Ala Moana Kapiolani Corridor

Ililani in Kakaako

  • 328 Units Total (1 Tower)
  • 163 Market Units + 165 Affordable Units for sale
  • Breakdown of Affordable Units (exact number not finalized but will be only 1 and 2 bedroom units)
  • Access to amenity deck 
  • HHFDC 10 year Affordable Housing Program. Similar to Kapiolani Residence, Ohana Hale, and The Central, but won't have a minimum income.
  • Market Units to be sold first followed by the affordable units (Tentative and not finalized). 
  • Affordable Maintenance Fee and Price: TBD
  • Neighborhood: Kakaako near SALT in Our Kakaako
Oahu Condo Median Price and Sales Chart
A look at annual sales and median prices (Oahu)

A Realtor's Opinion

After helping hundreds of clients in numerous projects throughout the state; I have to say that I believe that Ililani in Kakaako will be the more competitive and more desired of the two projects. With no minimum AMI restriction, we will see a ton of applicants who didn't get a Central Ala Moana unit. Recent trends also show the popularity of 1 and 2 bedroom units over Studios, which Ililani has more of. Since Sky is majority studios and doesn't have access to the amenity deck, it is quite certain that Ililani will be the more popular of the two projects. However, both projects will be amazing buildings in fantastic neighborhoods in the urban core of Oahu. 
However, Sky may be appealing if the maintenance fees are significantly lower. Sky's market units are $0.95 a sq. ft, but the affordable units will be cheaper since they do not have access to the amenity deck. The downside other than the fact that majority of the affordable units (71%) are studios, is the fact that it will be in the East/Diamond head tower of Sky which will be the hotel tower. This tower is set for phase 2 which means it will be constructed after the first residential tower on the West/Ewa side of the complex. 

If you are looking for the next affordable housing project, then one of these new projects may be may be for you. Don't forget to sign up today to get the latest information below!

 

Fill out my online form.

Posted in New Projects