Kapolei, HI

For the average 3/2, with a land area of at least 5,000 square feet and a roofed living area of 1100 square feet the price range in Nanaka Gardens and Honokai Hale, currently runs from:

$262,244 (poor condition) - $341,272 (excellent condition)

DOM means Days on the market AV means average

This below graph shows the price differential with Makakilo, which is on the hillside above Nanakai.

2007

SEVEN Sales av 3/2.5 Land 5781, living area 1203 asking $473000 sold $420,000 DOM 98

2008

TWO Sales av 5/3 5,747 sf land, 1813 living asking $575,000 sold $522,000 190 DOM *(this one is skewed as one of the homes was a new house built in 2007)

2009

NINE Sales av 4/2 5728sf land, 1568 living asking $396,746 sold $381,500 68DOM

2010

ONE Sales 92-753 Paakai St 4 bdr 2 bath 6000 1760 asking $350,000 sold for $320,000

2011

FIVE Sales ($338,580) av 3/2.5 5504 sf land, 1230 living 100 DOM

2012

One in escrow 3/1.5 Land 6000 living 956 92-759 Paakai St asking $350,000, rumor is that it is in escrow for $320,000.

The market in the Nanakai and Honokai neighborhoods have had very little activity. Two reasons possible:

1. homeowners tend to hold on to their homes longer than average in this neighborhood.

2. owners are waiting to put their homes on the market, but will do so when the buyer activity in the area increases.

No fee simple properties are currently for sale as of Jan '12.

If you are a buyer, looking for something in this neighborhood, call me 808-955-1577

If you are thinking of selling, contact me for a free evaluation and analysis. 808-955-1577

Act 48: The New Foreclosure Law

The most recent news of Pentagon's Foundation had an "Dream Makers" article about first-time military buyers and an available grant they can apply for up to $5,000 towards down payment and closing costs. For those whom are eligible, such as; Active duty personnel, military retirees, veterans, and U.S. Department of Defense and Department of Homeland Security.

In an effort to help the dream of home-ownership come true, please share this with anyone you know who may be eligible.

In addition, here are all the details below from the PentagonFoundation site!

Applying for a Dream Makers Grant

The Dream Makers Program offers grants for down payments to first-time homebuyers of modest means who valiantly work to protect our country’s national security.

You don't have to be a Pentagon Federal Credit Union member to benefit from Dream Makers, and you can apply the grant to a mortgage from any financial institution.

How Do I Qualify?

You're eligible for a Dream Makers grant if:

1. You're Military (Active Duty, Reserve, National Guard or Veteran), a Department of Defense employee or a Department of Homeland Security employee.
2. You're a first-time home buyer, or you have not owned a home for the last three years, or you have lost your home through divorce or disaster.
3. The gross household income, including allowances, that you use to qualify for your mortgage loan is:
   • A maximum of $55,000 per year, or
   • A maximum of 80% of your community’s median income based on your family size

Click here to determine your community's median income based on family size.

What Steps Do I Take?

	Decide the amount of money you will contribute to your mortgage financing. $500 is the minimum amount for you to contribute. Dream Makers will match that three-to-one, up to our maximum of $5000. Estimate the size of your mortgage loan. Decide if the money you contribute, plus the Dream Makers grant, will be at least 3% of mortgage amount. You must put 3% down to qualify for the grant.
	Fill out Dream Makers application. The fastest way to complete it is online. You may apply when you start to think about purchasing a home: you don't have to select a home and/or a mortgage company before you submit your application. To fax or email, download this form.
	We will respond to your application with instructions on the process. When you select your mortgage company, you will share the contact information with the Foundation who will coordinate the grant paperwork process with your lender.
	Attend a home-buying educational seminar in your area. See upcoming seminars and locations

Whether past or present clients, we still keep the relationship going! Check out the video!

How time flies when you're having fun.

What seemed a distant event is now in the 30 day countdown. From the first time I heard the rumor, it was easy to believe and easy to imagine. Disney was going to build Aulani Resort and Spa in Ko Olina. She is opening August 29th and we are excited!

The Disney family is a pretty good family to have moving into our neighborhood! Not only for the investment and jobs that will be brought, but for the quality of the corporation and the people who are part of it. Now that she is ready to open, it is clear to see that they delivered on all counts.



The View from one of our Villas - 2 bedroom Ocean Views $400/ Night +/- & fees

If you are interested in viewing vacation rentals on Lagoon 2 adjacent to the Disney Aulani, we offer 2 and 3 bedroom, ocean front Beach Villas for 7 night minimum leases at Very competive rates. To view Available Beach Villas for Rent, Click Here

Ihilani Hotel - Marriott Disney site Beach Villas Marriott Beach
Club timeshares

As I have said before in this forum, Ko Olina is a beautiful place and The Aulani Resort and Spa that Disney has created speaks volumes of how beautiful the area is on her own merits. The Aulani Resort and Spa is located on a crescent shaped lagoon and will be built between the Ihilani Hotel, a 5 star Marriott property and the Beach Villas at Ko Olina which are the residential villas we own and/or manage for rent above. These are the first year round residence opportunities on any of the 4 Ko Olina Lagoons.

If you are trying to reach the Aulani website, Click Here

A wonderful beach trail connects the 4 lagoons on a mile and a half coastline trail. There are 5 other communities within the gates of Ko Olina which are Kai Lani, Coconut Plantation, Ko Olina Kai, Ko Olina Hillside and Ko Olina Fairways. Several of them are built along the perimeter of the Ko Olina Golf Course which is world class and currently Michelle Wie's home course. Lastly, there is a beautiful marina with nearly 300 slips in what is one of if not the best marinas in the State of Hawaii.

Ko Olina is officially within the city limits of Kapolei and is a neighborhood more than an independent city. I would guess that the 5 communities have over 1,500 residences between them within walking distance to the new hotel site. The school district is Kapolei and it has several new schools and bus service to them from Ko Olina. Ko Olina is about 3 miles away from the center of Ko Olina and I think you'll find the area a good place to live as well as a great place to raise a family.

More to come!

Feel free to contact me if you are interested in Ko Olina, whether it's for work, play or investment, let me know and I'll do my best. To send me an email, CLICK HERE

Mahalo!

Michael Hege' RA
Kapolei Realty, Inc
808 225 3660
www.HomesOahuHawaii.com
www.KapoleiToday.com