Resale condo market in Ward Village, Kakaako

Many buyers and owners of a condo in Ward Village are interested in the resale market in Ward Village. Even if they are not sure about selling their condo, to understand how condo units perform on the existing condo market.

So far, two condo buildings have been completed by Howard Hughes Corp in their Ward Village project. Both the Waiea and the Anaha have been performing well in the resale market. Generally, people are very happy with these two new ultra-luxury Honolulu condos. These new concepts in Hawaii luxury living are unlike any other condos that have come to Honolulu. Furthermore, to be a part of a planned urban community is an incredible opportunity. Everything in the area is a crafted experience. To combine shopping and recreation in a walkable community is an incredible way to live day in and day out.

For the last few months, sales have increased at both Waiea and at Anaha condos. It is not surprising because this is some of the busiest time of the year for Hawaii Real Estate.

 

Ward Village resales per condo building

 

Waiea condo sales

For Waiea condos some aspects of the prospect were delivered with a few rough edges. However, as operations improve and realizations on how small changes can improve the project, sales have gone from nearly non-existent to increase over the original sales. In the past few months, resale prices have been over 10% over the original sales prices. At least one unit sold for near the same sale price as the original, but for the most part, prices have increased moderately.

 

Anaha condo sales

The Anaha condos, with their lower price point, have re-sold even better than the Waiea condo. The resale prices have been as much as 42% above the original sales prices. This remarkable sale price was for a one bedroom unit. As in my past research, the units that seemed to have sold for the biggest percentage price increase have been the smallest and lowest priced units originally offered and also the highest priced units. So it is natural to see that the smaller units fetch the highest resale prices in the building. The next highest sale over the Summer was a 2 bedroom, Ewa facing unit which sold approximately 19% above the original sale prices.

 

Ae’o condo sales

The next building to forward to is the Ae’o condo. Since the building has not been finished so it is difficult to see how well the resales may go. However, because the building has been sold out for months, it is promising that resale prices will be strong. There have several units offered for resale even now, months before the official building opening. If the resale offering prices are anything to go by, it looks like the resale prices may average a 20% increase off of the original sale prices right from the beginning. There is even at least one Ae’o condo unit being offered for rent.

A’ali’i condo sales

A’ali’i condo, a further example of the success of the Ward Village neighborhood has approximately 80% of the units sold out The A’ali’i condo groundbreaking was moved up by months to accelerate the project. These units are offered at a lower price point than Ae’o condo.

The added bonus offered to repeat or referral buyers help to accelerate sales is a referral bonus offered by the developer, where each buyer and seller are offered one half or one percent of the sale price. This bonus is a real benefit for all buyers to encourage their friends and colleagues to buy into the Ward Village Community. With nearly every price point being offered, there should be something for everyone.

Ko’ula condo sales starting soon

With the future addition of Ko’ula condo, there is another opportunity to buy in Ward Village. Sales should begin in the first quarter of 2019. The base of the building has been cleared already and it is easy to see the exact location of the building.

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