Reasons luxury property buyers have to move fast in the Hawaii real estate market

We have been saying for months that property buyers have to be prepared to move fast in the Hawaii real estate market, but this includes the luxury home buyers as well.  Normally buyers in the multi-million dollar price ranges have been able to take their time looking around for a while before committing to property.  As inventories have been shrinking, buyers have had fewer choices, so when a desirable property comes on the market action must be taken quickly.

Following is a sampling of properties that were recently snapped up.

4399 Aukai Avenue – One of Kahala’s most prestigious streets to reside on sits this home built in 2008 on just over 11,000 square feet of land.  The four bedroom Kahala home, four and half bath home feels like a palatial resort with it’s grand entrance, soaring ceilings, and the openness to the pool area.  The asking price was $3,199,000 and it was sold in 39 days at full price closing on June 28, 2012.

2954 Makalei Place – Sitting on the slopes of Diamond Head sits this luxurious retreat.  A European style tropical oasis built in 1933 consists of four bedroom and four baths on 10,376 square feet of land.  This Diamond Head property went on the market in late March for $3,888,000 and sold in 40 days for $3,500,000 closing on June 5, 2012.

42-102 Kooku Place – On the slopes of Mount Olomana above Kailua sits this neighborhood called Norfolk.  Named after the many pine trees that exist in this area, the neighborhood consists of large minimum 1 acre lot.  The land size alone is luxurious for Kailua.  This particular property has 2 acres of land with a huge 5,681 square feet home with six bedrooms and baths.  The soaring 17 foot high ceilings offer tremendous views of the lush surrounding greenery.  The lot is large enough to also allow for horses or farming.  The property sold on June 28th after being on the market for a mere 8 days for $1, 950,000.

Browse more homes for sale in the Diamond Head and Kahala Area

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