Have you ever wondered which neighborhoods on Oahu were the hardest to get into? Well, my brokerage firm analyzed all single-family neighborhoods to find out which region was the most competitive.
The data was compiled from all single-family neighborhoods that had at a minimum of 5 sales in 2019. We used bid-ups (a bid-up is when a property sells for above list price with multiple offers) to measure these neighborhoods. The region neighborhoods that had the most bid-ups in 2019 are:
Kapolei Kai was Oahu's most competitive neighborhood in 2019
In 2019, Kapolei Kai saw bid ups in more than two out of every three homes sold. The neighborhood is comprised of 204 single-family homes and was completed in 2003. It is located right behind the Kapolei Middle School. With only 6 home sales in 2019, the turnover was just 2.7%. The median price was $688,500 which was an increase of 2% from just a year ago.
Kapuna Hala came in second place
In Kaneohe, Kapuna Hala came in as a close competitor. Here we saw very competitive conditions with 62.5% of homes selling for above-asking price. Kapuna Hala has a mix of old and newer single-family homes with 393 single-family homes that make up the neighborhood. In 2019, there were only 8 sales which resulted in a turnover of just 2%. But the strong demand pushed the median price up 13% to $892,500 - which is just slightly higher than the overall median price of Kaneohe.
Kaneohe was Oahu's most competitive region on the island
Among all the 12 regions on Oahu, Kaneohe was the most competitive neighborhood region. With about one in four homes having a bid-up situation. Factors that affect competition among buyers include a neighborhood's median price, relative to the surrounding neighborhoods, median days-on-market statistics, turnover, and desirability.