March saw another increase in pending home sales, with contract activity rising unevenly in six of the past nine months, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 5.1 percent to 94.1 in March from a downwardly revised 89.5 in February. The index […]
Tourism officials in Hawaii are seeing improved bookings for trips to Hawaii during Japan’s Golden Week. The Hawaii Tourism Authority has been stepping up campaigns in Japan to encourage more tourism in the wake of Japan’s disaster and it appears to be paying off. Although the expectation is that bookings will be lower than last […]
Marriott is joining forces with Alexander and Baldwin to build a Courtyard by Marriott. The hotel will be located near the Kahalui airport. The project has been planned for nearly a decade and will finally break ground next week. Tourism officials have longed wanted a hotel near the airport that can accommodate business travelers and […]
Existing home sales rose in March, continuing an uneven recovery that began after sales bottomed last July, according to the National Association of Realtors®. Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 3.7 percent to a seasonally adjusted annual rate of 5.10 million in March from an upwardly revised […]
Maui saw a 22% increase in the number of homes sold in Maui county in March according to the Realtor Association of Maui. This includes a single family home sale on Lanai and two on Molokai. The median sales price, however, remained relatively flat. To learn more about Hawaii Real estate contact Malia L. Meenderman, […]
We have been seeing slight gains in hotel occupancy in Hawaii. The overall occupancy rate is modestly up 2% to 71.9% from the previous week. Oahu’s occupancy rate was the highest among the islands at 76.6% which was up over 4% week over wee. The worst performing island was the Big Island at 57.4%. The […]
The drop in the median sales price for Hawaii, down in March 8.6% year over year, has been slowly building speed. One of the price points that is doing the worst is the $650,000 to $1.1 mil range. This range is down roughly 7% year over year in the month of March. The lack of […]
March showed itself as another down month in the Hawaii housing market. The median sales price is still falling. Not all areas are doing badly however. Some price points and neighborhoods seem to be in demand despite a downward move in the overall market numbers. Hawaii Kai has emerged as a strong neighborhood market in […]
The Honolulu Board of REALTORS® released resale figures today for the month of March. During March, sales of 249 single-family homes and 331 condominiums were reported through the Board’s MLS, decreases of 2.4 percent and 8.1 percent, respectively, for single-family homes and condominiums from March 2010. The median price paid for island properties in March […]
According to data from the National Association of Realtors, sales of million dollar plus properties increased in February by 3.9% compared with the same month last year. It is a positive sign against the data that shows overall existing home sales declined in February. It is a sign that the recovery in housing is uneven […]
Pershing Square Capital run by William Ackman announced today that they have acquired a 8.6% stake in Alexander & Baldwin (ticker symbol: ALEX). William Ackman is notorious for taking a share of the company and forcing changes to obviously make money for the shareholder and, of course, his hedge fund. They do tend to stay […]
The new FDIC proposal for outlining the rules for the new QRM requirements and risk retention rules was presented a couple of days ago. As we previously announced, largely the focus was on the QRM requirements. However, it may be the risk retention rules that may more damaging to the housing market. It was generally […]
When the Trump Tower Waikiki went up for sale, buyers in Hawaii and in Japan seemed to be jumping at the chance to own what was thought to be a new landmark in Waikiki. There appeared to be such high demand for the 469 units when they went under contract in a single day. In […]
Hawaii Kai located on the east side of Oahu is a neighborhood seeing an increase in demand and median sales price. It has always been viewed as a good family neighborhood. Median sales prices have increased 5% years over and we are seeing a 16% increase in new listings coming onto the market. Keep an […]
The FDIC will present and vote on the new proposed QRM (Qualified Residential Mortgage) legislation. It would require 20% down on these qualified mortgage. These mortgages would also be exempt from risk retention for issuing banks. Other mortgages would require the initiator of the mortgage to retain 5% of the value of the mortgage on […]
Pending home sales increased in February but with notable regional variations, according to the National Association of Realtors. The Pending Home Sales Index,* a forward-looking indicator, rose 2.1 percent to 90.8, based on contracts signed in February, from 88.9 in January. The index is 8.2 percent below 98.9 recorded in February 2010. The data reflects […]
The number of condo sales in Honolulu increased by 205 year over year in February 2011. The median sales price rose 7%. This is a sign that our lower priced real estate is starting to really move. We first see the volume increase and then the sales price. Look for more improvement in the condo […]
There are only a limited number of homes on Lanikai beach in Kailua. Many properties lost their beach in the 1990s and although it is beginning to return, the beach is still limited and therefore very prized. At the end of one stretch of sandy beach is 1226 Mokulua Drive. At high tide you can […]
Hawaii real estate statistics for the month of February 2011 for the island Oahu. According to the analysis conducted by the Honolulu real estate board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are: Single-Family Oahu Hi Home Resales Number of Sales This Month Compared To Median* Sales Price This […]
Karl Lagerfeld is reportedly selling his apartment at Gramercy Park in New York. He bought the 6th floor apartment in 2006 for $5.675 million and is now selling it for $5.5 million. It is rumored that he has never stayed there but is filling the 3 bedroom, 3 1/2 bath apartment with Chanel images and […]