Hawaii Real Estate News

It is a good time to be a Buyer with lower home prices and exceptionally low interests rates you can't go wrong. If you are looking to purchase Now Is The Time, the market is starting to move in an upward trend and Buyers have become more aggressive knowing that the market has reached a low point.

For April 2010 Vs. 2009 the number of Island wide home sales increased by 9.52%,  the median sales price decreased 15.45%

April 2010 Condos number of sales increased 114.3% and the median sales price increased 44.6%

Information on April 2010 sales on the island of Kauai was provided by Russell Tucker

Kailua-Kona saw a 75%  increase in Single Family Residential (SFR) home sales as compared to March '09.  Median sales prices are down a little more 19%.  North Kohala, South Kona, Kau, Hilo and Puna also saw an increase in the number of sold homes.  The median prices have dropped 10% on the Kohala Coast and Hilo prices dropped 8%.  The Kohala Coast reported 2 less home sales vs. Mar '09.  As a whole, Big Island sales is up nearly 40% and the median price is down 4.7%.

The Kailua-Kona market for condo sales increased again this month and saw a 93% improvement from Mar '09, while the median price continued to slide and  dropped 21% for the month.  The Kohala Coast is also up again this month and sales increased 143% from same month last year.  But, the median price is also up by 51%, which may an indication that more investors are purchasing higher-end condos.  The entire Big Island condo sales doubled to just over 100% from Mar '09 as the median prices continue their decline down another 6.7%.

Current Market Conditions as of Apr 6, 2010... There are 577 Single Family Homes on the market for the Kona/Kohala Coast, which is an decrease from last month's 603 active listings.  It's too soon to tell what the trend is, but as market supply dries up, the median prices will stabilize and may even go back up.   There are 140 homes in escrow, which is up from last month of 120 and 49 homes sold... 22 more than last month.  At the current buying rate, we have a 11.7 month supply of homes, which is half of last month's 22.3 month supply.

Of the 577 Single Family Homes on the market, 39 are Foreclosure Listings and 100 are Short Sale Listings.

For Kona/Kohala Coast Condos, there are currently 546 on the market for sale, down from last month of 561.  There are 117 in escrow, up from 108 last month and 44 sales, up from 35 last month.  We have a 12 month supply of inventory, which is a decrease from last month's 16 month supply.

We receive a lot inquiries from folks asking when the market bottom out.  And while we can't predict the future, we're seeing increased buying activity, which reduces the market supply of homes and condos.  A 6 month supply of homes/condos is commonly thought of as a balanced market.

Information on sales for the Big Island of Hawaii was provided by Kurt & Kirsten Carlson, Big Island real estate experts.

For March 2010 Kauai's number of sales has once again exceeded 2009 numbers, Buyers have become more aggressive knowing that the market has reached a low that we have not seen for a long time and also first time home buyers are taking advantage of the tax credit. For March 2010 Vs. 2009 the number of Island wide home sales increased by 4.35%,  the median sales price increased 3.34%

March 2010 Condos number of sales increased 172.7% and the median sales price increased 43.18%

Information on February 2010 sales on the island of Kauai was provided by Russell Tucker

Kailua-Kona saw a 27%  increase in Single Family Residential (SFR) home sales as compared to February '09.  Median sales prices were actually up nearly 10%.  South Kona, Hamakua, and North Hilo also saw an increase in the Median prices.  Kohala Coast home sales dropped 47% for February and the median price dropped 4%.  Puna homes sales increased 33% this month vs. Feb '09.  The Big Island as a whole saw a slight increase in home sales and a 19% drop in Median prices.

The Kailua-Kona market for condo sales saw a 200% in Feb '10 and the median price dropped 23% for the month.  On the Kohala Coast, sales are up 175% from same month last and median price is down 68%.  For the Big Island, condo sales are up 200% and the median price is down 39%.

Current Market Conditions as of Mar 5, 2010... There are 603 Single Family Homes on the market for the Kona/Kohala Coast, which is an increase from last month's 591 active listings, 120 homes in escrow, which is up from last month of 117 and 27 homes sold... 5 less than last month.  At the current buying rate, we have a 22.3 month supply of homes, which is more than last month's 17.9 month supply.

Of the 603 Single Family Homes on the market, 29 are Foreclosure Listings and 115 are Short Sale Listings.  A slight increase from January.

For Kona/Kohala Coast Condos, there are currently 561 on the market for sale, down from last month of 568.  There are 108 in escrow, up from 91 last month and 35 sales, up from 25 last month.  We have a 16 month supply of inventory, which is a decrease from last month's 23 month supply.

Information on sales for the Big Island of Hawaii was provided by Kurt & Kirsten Carlson, Big Island real estate experts.

For February 2010 Kauai's number of sales has once again exceeded 2009 numbers, prices are down and interests rates are low and Buyers are Purchasing! Buyers are also watching the Hawaii REO Bank Owned Foreclosure Market and purchasing properties below market value. For February 2010 Vs. 2009 the number of Island wide home sales increased by 81%,  the median sales price increased 11.6% for 2010 Vs. 2009

February 2010 Condos number of sales increased 9% and the median sales price increased 7.9%

Information on February 2010 sales on the island of Kauai was provided by Russell Tucker

Kailua-Kona saw a 228%  increase in Single Family Residential (SFR) home sales as compared to January '09.  Median sales prices are down 3% this month vs Jan '09.  The Kohala Coast recorded a nice increase in homes, up 43% this month, while the median price dropped 27%.  Hilo homes sales increased 80% this month vs. Jan '09.  Hilo median home prices were down 1% from Jan '09 to Jan '10.  These continued low prices and interest rates around 5% have resulted in increased buying activity and sales.  The Homebuyer Federal Tax credit ends in April 30, 2010, so don't miss out on a good opportunity.

The Kohala Coast condo sales increased 500% in Jan '10, although that number is based upon 6 total sales. The median price dropped 52% for the month.  The condo market in Kailua-Kona saw sales of condos increase 73% for the month and the median price declined 4%.  The condo sales are improving due to more buyers using cash for the purchase and/or using a home equity line of credit.  Many lenders are requiring 30-35% down payment on vacation condos, since they carry more risk of mortgage default.

Current Market Conditions as of Feb 5, 2010... There are 591 Single Family Homes on the market for the Kona/Kohala Coast, which is an increase from last month's 577 active listings, 117 homes in escrow, which is up from last month of 93 and 33 homes sold... 8 less than last month.  At the current buying rate, we have a 17.9 month supply of homes, which is more than last month's 12.8 month supply.

Of the 591 Single Family Homes on the market, 23 are Foreclosure Listings and 109 are Short Sale Listings.

For Kona/Kohala Coast Condos, there are currently 568 on the market for sale, down from last month of 577.  There are 91 in escrow, up from 63 last month and 25 sales.  We have a 23 month supply of inventory, which is a decrease from last month's 18 month supply.

Information on sales for the Big Island of Hawaii was provided by Kurt & Kirsten Carlson, Big Island real estate experts.

For the 4th month in a row Kauai sales volume has exceeded January 2009 number of sales by a large margin, prices are down and interests rates are low and Properties are moving! The Homes Sales Volume for January 2010 compared to January 2009  increased by 200% and the median price fell downward 16%

Condo sales volume for January 2010  compared to January 2009 increased 100% and decreased in medium sales price by 19%

With a Decline in prices and more inventory sellers are dropping prices and buyers are finding great deal in todays market.

Kailua-Kona saw a 114%  increase in Single Family Residential (SFR) home sales as compared to December '08 and sales are up nearly 18% for the year ending '09.  Median sales prices are down 23% for Dec '09 and down 21% for the year ending '09.  Hilo homes sales increased 5% for Dec '09, but down 4% for the year ending '09.  Hilo median home prices were down 28% from Dec '08 to Dec '09 and down 19% for year ending '09.  As the year came to a close, we saw positive improvements in regards to the number of SFR home sales in the following markets: North Kohala, Kohala Coast, Kailua-Kona, Kua, North Hilo, and Puna.

The condo market in Kailua-Kona saw sales of condos increase 75% for the month of Dec '09 vs. Dec '08 and the Kohala Coast condo sales increased 57% in Dec '09.  Kona condo median price declined 16% for the month and Kohala Coast median condo prices slid nearly 33%.  I expect the sales volume to increase during the winter months, as this is usually a busy time for condos.  Mainlanders are arriving on island and are starting to pick well prices condos.

Current Market Conditions as of Jan 5, 2010... There are 577 Single Family Homes on the market for the Kona/Kohala Coast, which is a decrease from last month's 603 active listings, 93 homes in escrow, which is up from last month of 92 and 45 homes sold... 5 less than last month.  At the current buying rate, we have a 12.8 month supply of homes, which is more than last month's 11.4 month supply.

Of the 577 Single Family Homes on the market, 28 are Foreclosure Listings and 102 are Short Sale Listings.

For Kona/Kohala Coast Condos, there are currently 577 on the market for sale, 63 in escrow, down from 65 last month and 32 sales.  We have a 18 month supply of inventory, which is a decrease from last month's 29 month supply.

Keep an eye the market inventory supply shown in months.  A 6 month supply of properties is considered to be a balanced market.  Right now, it's still a buyer's, but our local market can change quickly and supply can dry up fast.

Information on sales for the Big Island of Hawaii was provided by Kurt & Kirsten Carlson, Big Island real estate experts.

Kailua-Kona and the Kohala Coast reported more than a 100% increase in Single Family Residential home sales as compared to November '08. Hilo saw an increase in both homes sales and the median sales price of a home, jumping to $290,000, up from $239,250 in Nov '08. Not sure if that median price increase is an anomaly or the first sign that we're nearing the bottom of the market. More data points are needed, so we can plot the trend. First time home buyer activity has increased as a result of the extended tax credits, continued low interest rates and low median prices.

For condos, we see median sale prices increase for Hilo, but sales dropped about 50%. The Kohala Coast reported a 75% increase in condo sales compared to Nov '08, while Kailua-Kona was almost unchanged. The next four months will be a busy season and we're seeing the first signs of visitors sizing up the market, since the prices are near 2002-2003 levels.

Current Market Conditions as of Dec 11, 2009... There are 603 Single Family Homes on the market for the Kona/Kohala Coast, which is a increase from last month's 563 active listings, 92 homes in escrow, which is down from last month of 118 and 53 homes sold... 8 more than last month. At the current buying rate, we have a 11.4 month supply of homes, which is less than last month's 12.5 month supply.

Of the 603 Single Family Homes on the market, 26 are Foreclosure Listings and 118 are Short Sale Listings.

For Kona/Kohala Coast Condos, there are currently 609 on the market for sale, 65 in escrow, up from 58 last month and 21 sales. We have a 29 month supply of inventory, which is an increase from last month's 25.5 month supply. The financing for vacation condos has stricter guidelines and lenders are requiring larger down payments in the neighborhood of 30%.

Information on sales for the Big Island of Hawaii was provided by Kurt & Kirsten Carlson, Big Island real estate experts.

Emmanuel's Pre-School in Kailua has recently changed curriculum and other items around at the school in hopes to make better learning environment for it's students. Of course there are going to be some opposed to change, but it is natural for people to not feel comfortable when things change.

Here is a little about what the school:

Emmanuel's Pre-School offers high quality child care to children ages 3 to 5 years old. The school has recently adopted an academic curriculum as well as integrated a weekly "Chapel Day" into the program. Teachers and staff provide a safe and nurturing environment, where children blossom through song, play and discovery. The school is open year round from 6:45 am to 6:00 pm. Spaces are available!! To learn more about the school, visit their website: www.emmanuelkailuapreschool.com

We recommend that anyone considering any school to do their own due diligence and research to make sure it is a fit for their child and family.