Is it a Buyer's Market now in Hawaii Kai?

Asked by Barbara Abe, 96825 Mon Aug 13, 2007

What is the average Days on Market for Single Family homes in Hawaii Kai?

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12
Julie Sparks, , Honolulu, HI
Tue May 27, 2008
Yes, I think we've finally entered a buyer's market even in East Honolulu. There are fewer buyers who are qualified to purchase and more inventory on the market. Buyers who have been on the fence shouldn't be afraid to make offers. If they are preapproved or cash buyers they have the power in the current market.
1 vote
Frank Diaz, Agent, Honolulu, HI
Sat May 17, 2008
The market overall on Oahu is almost evenly split, with half of the areas going up and half going down:
http://hicentral.com/hbr-stat.asp
SF is down from a year ago, condos/townhomes are up. For April 2008, SF Days on the Market has been dropping across the state since January (61) to 43 this month. I think this is because median list prices have dropped down to $725,000 for SF from $749,000 6 months ago. That should tighten up inventory and hopefully set more realisitc expectations for sellers.
1 vote
Elliot Lau, , Honolulu, HI
Wed May 7, 2008
Here's a gread article on how you can tell if it's a Buyer's market:
http://www.crystalclearmarket.com/?p=66

Trulia has the stats for Hawaii Kai here:
http://www.trulia.com/real_estate/Honolulu-Hawaii/

Hope this helps. Good luck to you.
1 vote
Barbara Abe, , 96825
Sat Sep 22, 2007
Yes, it continues to be a Buyer's Market!
Here are the numbers for Sept. 17, actives and sales, in Hawaii Kai:
Single Family Homes
Active Listings: total 123
Under $1,000,000 - 37
$1,000,000-$1,200,000 - 12
$1,200,000-$2,000,000 - 48
$2,000,000-$17,888,888 - 26
Listings Under Contract: total 23
Under $1,000,000 - 13
$1,000,000-$3,575,000 - 10
Sold in the last 6 months: total 130
Under $1,000,000 - 86
$1,000,000-$1,200,000 - 15
$1,200,000-$2,000,000 - 23
$2,000,000-$4,500,000 - 6
Condos
Active Listings: total 83
From $365,000 to $1,288,000
Listings Under Contract: total 34
From $320,000 to $1,580,000
Sold in the last 6 months: total 152
From $300,000 to $1,150,000
1 vote
Jeffery Grif…, Agent, Wailuku, HI
Tue Aug 14, 2007
Yes it is, and as always the deals happen when the buyer learns how and when to say Yes!
1 vote
Mike Gallagh…, Agent, Honolulu,, HI
Tue May 10, 2011
Aloha Non Believer in 96815:

My name is Mike Gallagher and truthfully I resent your analysis of agents being no better than Used Car sales people. Apparently you are skeptical about Real Estate in Hawaii or perhaps you decided to purchase Real Estate and now believe it was a bad decision.

My reports on Hawaii Kai are pure stats with my opinions and I tell it like it is. I personally cringe everytime I hear "It's a Great Time to Buy." I put it out there and it's up to you to decide and formulate your own opinion on market conditions.

You are entitled to your opinion regardless how baseless it is but the 'name calling?' Come on, get real.

I know more agents who truly care about their clients and conduct themselves professionally than I am sure you have ever met.

I am sure the next time you need real estate advice you will probably ask...your Doctor, Car Mechanic? No. What you will do is ask a Realtor for guidence.

Mike Gallagher,
Broker in Charge, Abe Lee Realty
0 votes
Nonbeliever, , 96815
Mon May 9, 2011
Every reply is from a R/E agent who would say anything to get you to buy so they get their FEES.
Hawaii can not evade the R/E collapse forever.The agents are the people who told you to buy Now before the prices go up, feeding the BUBBLE.
These are used car salesmen selling R/E.
0 votes
Mike Gallagh…, Agent, Honolulu,, HI
Wed Mar 30, 2011
Aloha:
My name is Mike Gallagher. View the current statistics for Hawaii Kai Single Family Homes and Condos/Town Homes at http://www.hawaiirealestatestatistics.com It is not necessary a buyer's market in Hawaii Kai. Condos are in trouble. Single Family Homes have almost no affordable inventory. Get the facts. I have been doing statistics for Hawaii Kai since 2005.

Mike Gallagher, Broker in Charge, Abe Lee Realty
Ethics Complaints Review Committee Member, Honolulu Board of Realtors
0 votes
Kate Braden, , Honolulu, HI
Wed Mar 2, 2011
Statistics can be interpreted in a myriad of ways, but it is always a buyer's market for qualified, pre-approved or cash buyers.There are fewer buyers ready, willing and able to buy so you have more power in this market. In addition, in Hawaii, market value and therefore price is set by what that ready, willing and able buyer is willing to pay. In this market, no one is willing to pay a premium so if the seller is unrealistic about pricing their property, the property will sit unsold. As rates rise, there will be fewer and fewer buyers that are qualified, so if you are a buyer use the statistics to analyze the correct price for the property you can afford and invest in your future by making that offer today while rates are still so affordable, and if you are a seller - clean and repair and price it right.
0 votes
Mike Gallagh…, Agent, Honolulu,, HI
Tue May 13, 2008
Aloha:

I am Broker In Charge at RE/MAX Honolulu.
If you want accurate Sales Data for Oahu and associated Neighborhoods, please visit my website at http://www.hawaiirealestatestatistics.com

You can email me directly at mikeg@hawaii.rr.com

Much Aloha,
Mike Gallagher
Broker in Charge
RE/MAX Honolulu
0 votes
Prudential L…, Agent, Honolulu, HI
Mon Sep 17, 2007
Just wanted to follow up with August numbers for Hawaii Kai. Single family home prices in Hawaii Kai did increase a healthy 3%. http://www.prudentiallocations.com/oahu-real-estate-report.asp. So if you have some buyers waiting for prices to fall, you might want to share the numbers with them.
0 votes
Prudential L…, Agent, Honolulu, HI
Wed Aug 15, 2007
If you you look at the stats just released in Prudential Location's July Oahu Real Estate Report http://www.prudentiallocations.com/oahu-real-estate-report.asp prices for both condos and single family homes have dipped in Hawaii Kai. Although prices in general for Oahu show growth, Hawaii Kai showed a drop -1.6% for single family homes and -7.6% for condos.
0 votes
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