Hawaii Homes for Sale

152811 Opakapaka St Pahoa HI 96778

Excellent question! Let’s call the psychic hot line. I wish I knew. I think the biggest factor is the interest rates. Our local economist uses 7-year rates to make his predictions. Here is the 10-year Treasury Note: http://www.forecasts.org/10yrT.htm 
5year: http://www.forecasts.org/5yrT.htm

IF (as in capitalized if) oil prices come down to a reasonable level, AND food prices stabilize, AND we don’t have any major economic catastrophes, AND depending on the price of rice in China, interest rates may stop rising, and possibly decrease. Every time oil prices jump, the Fed is under pressure to raise interest rates, because everyone has to spend money to pay for gas to get to work. Everyone is spending instead of saving. Banks have to pay more for deposits too. I think we are in an oil bubble now, but that’s a sticky topic (sorry).

My point it that a 1% increase in rates will affect your buying power by between 5 and 10%. So, that $400,000 condo at 6% now with 20% down (~ $2100 per month), now costs 10% more 6 months from now with an interest rate of 7% (~ $2300/month) . Find a mortgage calculator and check for yourself.

On the other hand, more bad news in the Hawaii housing market will cause more inventory backlog and prices will have to decrease, since less of us will qualify to buy! It’s a big mess.

I always tell people the same thing when they ask me when they should buy: “When you can afford it.” I should add that of course you must feel comfortable with the purchase and feel that you are getting a good price.

Yes, you can wait and the rates may increase or you can buy now and the price of the home could decrease. Will home prices drop by 10% or will the rate go up by 1%? Call your agent as soon as you know, because I don’t know. The interest rate is the big IF. Learn as much as you can about your local market. Talk to your friendly neighborhood Hawaii Realtor. Get qualified by a loan officer. Be ready to move and when you feel comfortable, get your best deal.

State of Hawaii – Department of Education

2012-2013 OFFICIAL PUBLIC SCHOOL CALENDAR

2012-2013 PRIVATE SCHOOL CALENDARS (Look up by school)

1st SEMESTER  88 Student Days           JULY 30 – FIRST DAY FOR STUDENTS
July 24 – First day for teachers
July 30 – First day for students
August 17          Statehood Day
September 5     Labor Day

September 30    1st quarter ends

Oct. 1-5 – Fall Break ***
October 8         Student day off for Teacher Directed Leave Without Pay (DLWOP)

October 9         Students return to school

November 6      Election Day

November 12    Veterans Day
November 22    Thanksgiving Day
November 23    School Holiday

November 26   2nd Quarter starts (45 days) and 1st Semester Ends – December 14
December 18 to January 1 – Winter Break ***
New Year’s Day January 1, 2013

January 2          Student day off for Teacher Directed Leave Without Pay (DLWOP)

January 3         Return to school

2nd SEMESTER – 92 Student Days

January 21         Martin Luther King Day

February 18       Presidents’ Day

3rd Qtr (50 days) Ends – March 15

March 18-22 – Hawaii Public School Spring Break 2013 ***

March 25          Student day off for Teacher Directed Leave Without Pay (DLWOP)

March 26          Kuhio Day

March 27          Return to School

March 29          Good Friday

May 24             Last day for students**

4th Quarter (47 days) and 2nd Semester Ends – May 24

May 28             Last day for teachers

June 11            King Kamehameha Day

** Commencement Exercises: No sooner than May 17, 2013
Hawaii Homes in Hawaii Public Schools Calendars 

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Search all Kahala homes, condos and land for sale on one easy to use site plus Kahala foreclosures

Kahala is an upscale neighborhood near Diamond Head and Waialae Golf Course. Kahala’s zip code is 96816.

Showing properties 1 - 25 of 38. See more Kahala Area community real estate. 
(all data current as of 3/28/2012)

1. $1,598,000 : 4419 Kilauea Ave, Honolulu

   

   3 beds, 2/0 baths

   Home size: 3,481 sq ft

   Lot size: 11,549 sq ft

   Year built: 1955

   Days on market: 6

   Walk Score®: 62
   
2. $415,000 : 1252-B Hunakai St ,Unit 14, Honolulu

   

   2 beds, 1/0 baths

   Home size: 833 sq ft

   Year built: 1955

   Days on market: 25

   Walk Score®: 80
   
3. $2,088,000 : 4340 Pahoa Ave ,Unit 19A, Honolulu

   

   3 beds, 2/0 baths

   Home size: 1,830 sq ft

   Lot size: 36,285 sq ft

   Year built: 1969

   Days on market: 35

   Walk Score®: 75
   
4. $1,150,000 : 931 Kealaolu Ave, Honolulu

   

   4 beds, 2/0 baths

   Home size: 2,167 sq ft

   Lot size: 7,640 sq ft

   Year built: 1940

   Days on market: 37

   Walk Score®: 43
   
5. $2,195,000 : 944 Kealaolu Pl, Honolulu

   

   4 beds, 4/1 baths

   Home size: 3,299 sq ft

   Lot size: 8,138 sq ft

   Year built: 1957

   Days on market: 42

   Walk Score®: 34
   
6. $1,595,000 : Iiwi St, Honolulu

   

   3 beds, 2/0 baths

   Home size: 1,825 sq ft

   Lot size: 11,082 sq ft

   Year built: 1956

   Days on market: 45

   Walk Score®: 35
   
7. $1,200,000 : 930 Koae St, Honolulu

   

   3 beds, 4/0 baths

   Home size: 2,073 sq ft

   Lot size: 8,015 sq ft

   Year built: 1955

   Days on market: 50

   Walk Score®: 63
   
8. $2,150,000 : 1256 Koloa St, Honolulu

   

   4 beds, 3/0 baths

   Home size: 2,194 sq ft

   Lot size: 12,485 sq ft

   Year built: 1959

   Days on market: 56

   Walk Score®: 52

   
   

   
   

   
   

   Hawaii Homes  Honolulu Homes For Sale, Kahala 

• Ala Moana Farmers’ Market
• Banyan Court Mall, 800 North King St.
• Benjamin Parker Elementary School, Kaneohe
• City Hall Parking Lot Deck (People’s Open Market)
• Country Market & Craft Fair, Waimanalo Homestead Community College (Call Paul Richards 808-225-4002)
• Davies Pacific Center, 841 Bishop St., 2nd and 4th Tues
• Ewa Beach Elementary School, 91-740 Papipi Rd.
• First Insurance Center, 1100 Ward Ave., 1st and 3rd Wed
• Fort Street near Wilcox Park (in front of Macy’s)
• Haleiwa Farmers Market, Kam Hwy & Joseph P. Leong By-pass
• Hawaii Kai Farmers Market, Kaiser High School
• Hawaii Kai Towne Center, Kalanianaole Hwy at Keahole St., 808-396-0766
• Honolulu Farmers’ Market, Neal S. Blaisdell Center (Ward & Kapiolani)
• International Marketplace, Waikiki
• Kahaluu Farmers Market, Windward Baptist Church, Kamehameha Hwy.
• Kailua Elementary School (Opens March 10th)
• Kakaako Makai Community Cultural Marketplace, 1 blk makai or Ala Moana Blvd & Ward Ave.
• Kalihi Farmers Market, Kapalama Elementary School
• Kapolei People’s Open Market, Kapolei Community Park
• Kaumualii Street People’s Open Market, Kalihi St.
• King’s Village Shopping Center, 131 Kaiulani Ave.
• Mahiku Farmers Market (aka International Marketplace)
• Mahiku Farmers Market, Momilani Community Center, Pearl City
• Makeke Kapolei, Kapolei High School, call 808-692-8200 ext. 2267 or email info@malamalearningcenter.org.
• Makiki Local Grown Farmers Market at St. Clemmons Church, 1515 Wilder Ave.
• Manoa Marketplace, 2752 Woodlawn Dr., call 808-847-0494/cell 808-554-4667
• Merchant Street Market, 841 Bishop St.
• The Millilani Sunday Farmers Market at Millilani High School, Millilani
• North Shore Country Market, Sunset Beach Elementary School, Haleiwa
• Nuuanu Farmers Market, Honolulu Central Seventh Day Adventist Church, 2313 Nuuanu Ave.  Carol Rose: rose46@yahoo.com
• Queens Medical Center, 1301 Punchbowl St., no website, 1st Wed
• Restaurant Row Farmers Market, 500 Ala Moana Blvd
• Royal Hawaiian Farmers Market, Royal Hawaiian Center, Waikiki, Honolulu, Hawaii
• Royal Kunia Park-n-Ride, Waipahu
• Waialua Farmers Market, Waialua Sugar Mill, no website, email: info@sugarmillhawaii.com
• Waianae Farmers Market, Waianae High School, Cafeteria lanai
• Waikiki Farmers Market, Waikiki Community Center, no website, 808-923-1802
• Ward Center, parking lot across from Ward 16 Theatres
• Windward Mall, Kamehameha Hwy, Kailua

 For more information, contact:

People’s Open Market Supervisor

1527 Keeaumoku Street

Honolulu, HI 96822

Phone: (808) 522-7088

E-mail: openmarket@honolulu.gov

For other farmers’ markets, click on the links below to open a listing on each island. 

Each list shows the location and time of the market as well as when the list was last updated.  Farmers’ Market business hours may change unexpectedly so it’s a good idea to call ahead and confirm the details. Happy shopping!

• BIG ISLAND    (Rev. 01-10-2011)
• KAUAI    (Rev. 3-15-2011)
• MAUI    (Rev. 3-1-2011)
• OAHU   (Rev. 2-24-2012)
• 

  Hawaii Homes  under Hawaii News 

Federal Government Home Buying Programs

Federal Housing Administration (FHA)

For more info send an email

FHA Loan for Purchase or Refinance on Principal Residence
FHA loan is a federal assistance mortgage loan in the United States insured by the Federal Housing Administration. FHA loans have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford.

FHA does not make loans. Rather, it insures loans made by private lenders. The first step in obtaining an FHA loan is to contact several lenders and/or mortgage brokers and ask them if they originate FHA loans. As each lender sets its own rates and terms, comparison-shopping is important in this market.

Potential lenders assess the prospective homebuyer for risk. The analysis of one’s debt to income ratio enables the buyer to know what type of home can be afforded based on monthly income and expenses and is one risk metric considered by the lender. Other factors, such as payment history on other debts, are considered and used to make decisions regarding eligibility and terms for a loan.

Department of Defense
Homeowners Assistance Program
Homeowners Assistance Program (HAP) to eligible service members and federal civilian, including non-appropriated fund, employees. The program is authorized by law, and administered by the US Army Corps of Engineers (USACE) to assist eligible homeowners who face financial loss when selling their primary residence homes in areas where real estate values have declined because of a base closure or realignment announcement.  The American Recovery and Reinvestment Act of 2009 (ARRA) temporarily expands the HAP to assist service members and DOD employees who are wounded, injured or become ill when deployed, surviving spouses of service members or DOD employees killed or died of wounds while deployed, service member and civilian employees assigned to BRAC 05 organizations, and service members required to permanently relocate during the home mortgage crisis.

Department of Veterans Affairs (VA)
Loan Guaranty Program for Purchase or Refinance (aka VA Loan)
A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs. The loan may be issued by qualified lenders and designed to offer long-term financing to American veterans or their surviving spouses. The basic intention of the VA direct home loan program is to supply home financing to eligible veterans in areas where private financing is not generally available and to help veterans purchase properties with no down payment.

The VA loan allows veterans 100% financing without private mortgage insurance or 20% second mortgage. In a purchase, veterans may borrow up to 100% of the sales price or reasonable value of the home, whichever is less. In a refinance, veterans may borrow up to 90% of reasonable value, where allowed by state laws.

VA loans allow veterans to qualify for loans amounts larger than traditional Fannie Mae/conforming loans. VA will insure a mortgage where the monthly payment of the loan is up to 41% of the gross monthly income vs. 28% for a conforming loan assuming the veteran has no monthly bills.

U.S. Department of Agriculture (USDA)
Direct Housing Loans
The Rural Housing Direct Loan Program provides very low and low income families with financing tobuild, purchase, repair or refinance homes and building sites that meet local codes.  The home must be located in a rural community with less than 10,000 populations, on a farm or in open country not closely associated with an urban area. To determine USDA Property Eligibility, click here. Some of the eligible communities include Ewa Beach, Makakkilo, Kapolei, Waianae, Waipahu, Pupukea, Haleiwa, Laie, Hauula, Kaaawa, and Kahuku.

Guaranteed Home Loans
Single Family Housing Guaranteed Loans require no down payment and no monthly mortgage insurance and are loans made by approved mortgage lenders to qualified low and moderate-income individuals and families in rural areas.

USDA Rural Development is expanding homeownership opportunities and affordability to homebuyers by providing lenders with loan guarantees that protect the lender from risk of loan loss. The lender passes the benefit on to the home buyer in the form of a loan requiring no down payment or mortgage insurance, limiting loan and closing costs, and offering favorable interest rates similar to conventional loans. The 2% loan guarantee fee paid by the applicant replaces mortgage insurance and is significantly lower than projected cost of monthly mortgage insurance.

Eligibility: Applicants for loans may have an income of up to 115% of the median income for the area. Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance. In addition, applicants must have reasonable credit histories.

Home Improvement and Repair Loans and Grants
The Home Repair Loan and Grant program provides loan and grant funds to be used to pay for needed repairs and improvements to dwellings of eligible very low income families living in rural areas with a population of 10,000 or less.

Grant funds, which must be used to remove health and safety hazards, may be made to persons 62 years or older who lack repayment ability for a loan. Repair loan and grants may be used to remove health and safety hazards such as repairing roofs, heating, electrical and plumbing systems, water and waste disposal, installing screens, windows, insulation and other steps to make the home safe.

Home improvement loans may include similar purposes but may also be used to modernize, add a room, remodeling and making overall improvements to the home.  The home must be owner-occupied.

Self-help Housing
The Mutual Self-Help Housing Loan program is used primarily to help very low- and low-income households construct their own homes. The program is targeted to families who are unable to buy clean, safe housing through conventional methods and want to build equity in their home.  Families participating in a mutual self-help project perform approximately 65 percent of the construction labor on each other’s homes under qualified supervision.
FHA, First Time Home Buyer, HUD, VA