About Honolulu County, HI

Hedge rows can add lots of character to your curb appeal. Giving your yard the competitive edge with a flowering hedge row can make your property for sale stand out in a crowd. Aside from offering privacy, sophistication, and textured greenery, hedge rows can cover unsightly chain link fences and add color, fragrance and protection that buyers can appreciate.

If you live in a semi tropical to tropical environment and have a yard in need of some landscaping, you might consider planting some tropical flowering hedge rows to add some practacle pizazz to your yard. Here are some of my favorite hedges that are fast growing, easy to maintain and worth their weight in gold from a curb appeal perspective.

Jasminum Sambac: Here in Hawaii, Jasmine or Pikake(Hawaiian word for Peacock) holds an unrivaled reputation, as the Pikake Lei or flower garland is undoubtedly one of the most highly prized lei's known to modern Hawaii. Noted for it's striking resemblance to Ni'ihau shell leis, The unopened Pikake blossom is strung into pearl like strands and given as a greeting gift at special occasions such as weddings or birthdays. The fragrance of these leis can fill a room or yard and as such the Jasmine plant makes a wonderfull hedge row. There are many varieties of Jasmine but here are the creme de la creme.

Bel of India(pictured): The Hawaiian name for this variety of Jasmine is Double Pikake. Highly prized for use in leis and perfumes, this rather rare Jasmine has double pure white blooms with a tinge of pink about 3 cm round and has an intoxicating fragrance. It has abundant shiny dark green leaves and it's creeping vines cover chain link fences wonderfully. It does, however, require yearly pruning to keep the hedge healthy and vegetative.

Grand Duke of Tuscany: Triple Pikake is the name Hawaiians give this very rare and unbelievably fragrant flower. It is most often used in teas and perfumes. Resembling a densely packed miniature white rose, Triple Pikake blooms in Clusters of 4-5 cm blossoms. This creamy white flower packs an unbelievably amazing sent that will stop even the most obstinate home buyer in their tracks.

Mealy bugs are the nemisis of Jasmine so take care to isloate infested plants and spritz them in a soapy solution of Dawn and water.

Bougainvillea Spectabilis: The colorful and bright Bougainvillea is native to Brazil but is found widely cultivated throughout the tropical and semi tropical regions of the world. Bougainvilleas are noted for their vibrant color array ranging from fuchsia to orange to white. This woody vine can be grown in a container in a sun-room, green house, or out of doors. Bright light is a requirement for strong sturdy growth as well as for prodigious flowering, and over watering should be avoided. Bougainvilleas can grow very large, quickly and respond well to pruning and shaping. In addition they produce very long thorns making the drought tolerant Bougainvillea the perfect hedge candidate; offering protection and beauty to the yard. Unfortunately, the Bougainvillea has no fragrance to speak of.

Nerium Oleanders: A near relative to Plumeria(Frangipani) and a member of the dogbain family, this fast growing fragrant flowering hedge, can reach a height of 2 to 5 meters with a width of 1.75m if not pruned regularly. Easily trained into a hedge row, Oleanders come in several varieties with long and narrow, dark to medium green leaves producing clustered flowers measuring 6 cm across. Oleanders do not grow with the density of foliage found in Bougainvillea or Jasmine but make a great hedge row, none the less. These drought tolerant plants need little watering and come in several colors ranging from white to pink to red. On the Continent, Oleanders bloom from May to October, in Hawaii they bloom all year long, however, there are fewer blossoms during the Winter months.

Oleander is concidered a poisonous plant to pets but I have never heard of any cat or dog paying any interest to the plant or ingesting it. However, to be on the safe side keep puppies and kittens away from plantings.

Here's an interesting and fun albeit unrealted web site with a different perspective on hedges http://www.wix.com/HedgeWitchOracle/Oracle1

JDS Consulting- Hawaii Home Staging and Decor Design. Providing Real Estate Merchandising services including: Home Staging, Interior Decor, Turn Key, Landscaping, Remodeling, & Open House Hosting. Diamond Head, Kahala, Waikiki, Kapahulu, Kailua, Makiki, Tantalus, Hawaii Kai, Manoa, Nu'uanu, Ala Moana, Waialua, Haleiwa, North Shore, Kapolei, Makaha, Honolulu.

www.Staged.Homestead.com

Kimo Stowell Copyright ©2010

Pacifica Condos in Honolulu - Sales Begin - Going, Going, Gone

I had a handful of buyers interested in purchasing a condo at the Pacifica Condo Building in Ala Moana, Kakaako area in Honolulu, Hawaii. This was a building that was previously built as the Moana Vista, went bankrupt, and was purchased by a San Diego Developer. Please see other blog posts I have written about the Pacifica Condos in Honolulu.

Believe it or not, sales were advertised to begin Saturday, 2/6/10. Lines began to form as early as Thursday, and what appeared to be a handful of units available, after previous purchasers from the Moana Vista were given first opportunity, has mostly sold out.

My clients arrived very early Saturday morning, before light, with the sales office opening at 10:00 am. They were interested in a 2bd/2ba + den floor plan, on the upper floors, 20 and above, which was selling for a bargain price of $510-520k. Keep in mind that this was for a primary residence, owner occupied. These units were limited.

Unfortunately, only a few of those floor plans on those floors were available. Just before the sales office opened, they were told they were number 66 in line, and that the units they were interested in were in very short supply and had already been spoken for. Greatly disappointed, they decided to leave and give up.

There may be a few additional options available however........since those who entered into contract Saturday have to provide the seller with a lender pre-qualification letter in five days, there is the chance that a few buyers will not be able to qualify and back out. Since we were told that no back up offers would be taken, there may be a chance at or around five days for something to become available. A five percent deposit was required at signing, and an additional five percent deposit is due in thirty days, with the total ten percent becoming non-refundable. I believe there may be a second chance at this point in time for a few more units to become available when buyers cannot come up with the additional deposit or are not comfortable with the non-refundable policy.

It was interesting to read how the local newspaper put their spin on the situation. Here's an article that appeared in the Sunday edition of the "Honolulu Advertiser":

At about 5 a.m. on Thursday, a few people began lining up in the parking garage of the Honolulu Design Center furniture gallery. But it wasn't a furniture sale that attracted the group, which by yesterday afternoon had grown to almost 50 people.

The campers in the garage came to buy units in Pacifica, a recently restarted residential high-rise project nearby at 1009 Kapi'olani Blvd.

Sales for most units in the 489-unit tower are slated to begin today at 10 a.m. in an area set up inside the sprawling furniture gallery.

People spending a day or two on lawn chairs and mats on a concrete floor is another sign that more life is returning to the local residential real estate market that sputtered over the past couple of years.

Since the latter part of last year, the number of sales of previously owned homes on O'ahu has been on the rise, and prices appear to be slowly firming up.

To be sure, the camp-out for Pacifica wasn't close to the turnout that some projects experienced several years ago, when hundreds of prospective buyers outnumbered available units at various condo tower projects around Honolulu. Still, the gathering was a pleasant sight for the local real estate industry.

"People are still looking to buy," said Kiki King, an agent with Coldwell Banker Pacific Properties who snagged a place in line Thursday evening for three clients.

"They're not making any new buildings," added Dean Hanzawa, who was holding a spot for his nephew, a Honolulu Police Department crime lab employee who hopes to become a first-time homeowner.

Dan Nishikawa, director of development for Pacifica developer OliverMcMillan, said he was pleased by the turnout.

OliverMcMillan, a San Diego-based firm, acquired the stalled project makai of McKinley High School from original developer KC Rainbow II LLC in October by paying off a $29.5 million lien filed against the property by general contractor Hawaiian Dredging Construction Co.

KC Rainbow had invested about $65 million in the project previously known as Moana Vista, but ran into trouble in late 2008 after a roughly $100 million construction loan needed to finish the 46-story tower was withheld because too many buyers canceled nonbinding reservations for units.

The derailing of Moana Vista was dramatic considering that 466 people had competed to buy 192 units reserved for owner-occupants at a lottery in May 2006 near the height of the recent real estate boom. Investor demand was also strong for remaining units, but later withered.

OliverMcMillan got favorable deals in acquiring the project and negotiating a new construction contract, which the firm said has allowed it to create better value for buyers.

The company added new amenities, including fitness and party pavilions, two theaters and upgraded interior finishes to the project. It also redrew floor plans to add one- and three-bedroom units to the building previously designed with only two-bedroom units.

OliverMcMillan made some units bigger and some smaller, in the range of 661 to 1,811 square feet, compared with 728 to 1,268 square feet as Moana Vista.

Prices also were broadened, and now range from $385,000 to $1.2 million, compared with about $425,000 to $850,000 previously.

Today, about 265 units go on sale through brokerage firm Heyer & Associates LLC. Buyers are required to make a 5 percent deposit and sign a purchase contract.

Last month, OliverMcMillan gave first priority for buying Pacifica units to 143 people who were committed to purchasing a unit before Moana Vista was canceled.

Of the 143, OliverMcMillan said, it retained about 100 buyers.

"We are grateful for the patience and continued support of those buyers and believe that this is an indication of the strength of this project in the Honolulu market," said Morgan Dene Oliver, OliverMcMillan's CEO.

Another 124 units will be offered for sale at a later date under a state affordable hous-ing program that places restrictions on buyer incomes, unit resale terms and prices.

OliverMcMillan expects to resume major construction on the tower in April.

A few of Oahu's HOTTEST Deals are my Personal Picks of homes and condos currently Available For Sale! They represent a sampling of properties which offer a great value as they are either Foreclosures, Bankruptcy Sales, or Short Sales. Ask Me how you can get a LOWE'S 10% SAVINGS FORECLOSURE COUPON!

With respect to our local market, showings have increased and sales have increased suggesting our market is heating up. The tables turn when sellers have multiple offers to choose from and I believe we are on the verge of a "Seller's Market". Buyers will be competing against other Buyers and evidence of this shift will be reflected as more transactions close OVER the asking prices. Time will tell. Buyers still have interest rates on their side plus the tax credits for those who qualify: $8,000 1st Time Home Buyer credit or the $6,500 Step-Up Buyer credit.

Additionally, you will find Statistics and Reports on Oahu's sales at www.ExitHDR.com. I encourage you to visit "ExitHDR.com" where you can sign-up for "no hassle" Just Listed emails and access current information on Relocating to Hawaii. "ExitHDR.com" includes helpful information to help you better understand buying or selling a home in Hawaii and provides unrestricted access to Oahu Multiple Listing Services. You can also follow us on Twitter where we also post our reports as they are updated.

The 2010 Hawaii Real Estate Forecast seminar took place on January 22, 2010, at the Hawaii Convention Center where a few hundred professionals gathered to hear our local industry leaders speak on behalf of their sectors and how they expect 2010 to play out. I would like to share some of their forecast with you now.

Paul Brewbaker of TZ Economics explained that the indicators for Oahu Single Family Homes reflects that prices"hit the bottom"in May 2009 as did the mainland markets. Andour Oahu condo prices "hit the bottom" during the 3rd Quarter of 2009 after our Single Family Homes. Since then, sales have increased and inventory has been absorbed. Brewbaker predicts that Residential Real Estate will maintain its stability for 2010 and by 2013 prices could begin increasing steadily again. History tells us that housing is the "first one in and the first one out" of feeling the effects of a recession so based on Brewbaker's analysis the recession has ended.

Mike Hamasu of Colliers Monroe Friedlander spoke regarding the Commercial sector with less optimism due to the fact that lenders are more reluctant to mortgage commercial properties today. Hamasu's projects the commercial sector may get worse before it gets better due to the large number of balloon loans that are expected to come due but with limited commercial financing available, few businesses will be able to meet their lenders expectations. Local business owners will feel the pinch the most as they will have to cut costs in order to keep doors open.Unemployment is projected to hold at current levels.Again we look to history which tells us that unemployment is usually the "last one in and last one out" of feeling the effects of a recession. Businesses and landlords will have to ride this wave while the economy pulls itself free from the dwindling grips of recession.

Mark Bratton also of Collier Monroe Friedlander spoke regarding the Retail sector and C. Kalani Schrader of CB Richard Ellis spoke regarding the Office sector. Both predicted vacancies to increase as more business are forced to either down size or close. However Retail and Office Price Per Square Foot is projected to maintain current levels. Decreasing unemployment will be the indicator when we can expect to see an improvement in the Retail and Office sectors.

C. Mark Ambard of Ambard & Company Real Estate spoke regarding the Industrial sector which has been the hardest hit for some time. Ambard stated Industrial rents have decreased returning to 2003 and 2004 rental rates. Industrial vacancy period is expected to be as high as 10 to 14 months vacancy before finding a replacement tenant. Since land prices have dropped, Ambard predicts the Industrial sector will most likelybe stagnant during the next 3 to 4 years before improving.

Joseph Toy of Hospitality Advisors LLC spoke on behalf of the Tourism sector with surprising news that 2009 ended slightly better then projected. Toy projected visitor count will increase in 2010 as well as visitor spending. This is good news for our local economy.

All and all said... 2010 is the mark of a new decade! Be sure to check our web site for the latest residential reports. Our market snapshot provides a quick means of determining whether our inventory is being absorbed faster than it is being replaced as well as how list prices and sales prices are trending.

Opening in the Fall, 2011, the new Disney Resort, Aulani, will be a destination located near historical sites on the western side of Oahu on 21 acres of oceanfront property in the Ko Olina Resort & Marina development. The resort is planned to have 360 hotel rooms and 481 two-bedroom equivalent Disney Vacation Club villas.

"The name 'Aulani' expresses a connection to tradition and deep story-telling - and its roots are here in this land," said Joe Rohde, senior vice president, Creative for Walt Disney Imagineering. "We're so grateful to the local Hawaiians who led us to the discovery of this name, and our goal is to live up to its meaning."

Design plans call for amenities to engage every member of the family, a hallmark of a Disney vacation. Among the recreational highlights planned for the resort are pools and sunset-facing hot tubs, a snorkeling lagoon, a variety of kids' club and other play programs for children, and a river, suitable for tube floating, running through a specially created volcanic outcropping.

The resort will also include an 18,000-square-foot spa designed with families in mind. The resort, built adjacent to a crystal-blue lagoon and a white-sand beach, is planned to also have two restaurants, a 14,545-square-foot conference center and 48,685 square feet of outdoor venues. Located nearby are the existing Ko Olina Marina and a Ted Robinson-designed, 18-hole championship golf course.

When you plan your vacation next year to enjoy the Aulani, be sure and spend some time looking at the real estate opportunities on Oahu, and Hawaii Kai in particular. It's a great time to become a Hawaiian Investor.

(photo courtesy of RealEstateChannel)