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Maui Kauai and Big Island Home Sales

10-12-09
Hawaii Home Frank Diaz

Maui Kauai and Big Island Home Sales Statistics October 2009

The Maui Board of REALTORS reported steep decreases in September 2009, across the board for Maui real estate.

Year to Date for single family homes:

Residential unit sales declined (-36%)

Average sold price = $714,794 (-18%)

Median price = $501,010 (-16%) and total dollar volume sold = $321,657,347 (-48%).
Condo unit sales declined (-9%), average sold price = $733,880 (-22%), median price = $491,250
(-14%). Total Condo dollar volume sold = $447,666,929 (-30%).

These compare to a single family home price median of $769,000. A drop of over 25%.

The Kauai Board of REALTORS has not changed its market statistics since July 2009. At that time median prices and sales volume were down across the board by over 25%.

Big Island home sales increased last month as prices for single-family homes fell by 30 percent.

The median price of a single-family home on the Big Island in September was $226,500, down from $322,500 in September 2008, according to statistics from Hawaii Information Service.

That was based on 124 sales, up 44 percent from September of last year.

Condominium sales also rose last month with 29 units sold, up 16 percent from 25 units sold in September 2008. The median price of a Big Island condo was unchanged at $315,000.

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Hawaii Short Foreclosure Bankruptcy Sales Week of October 4th

10-03-09
Hawaii Home Frank Diaz

Hawaii Short Foreclosure Bankruptcy Sales

Single Family Homes, Short Sale, Foreclosure Sale, Bankrupty or Lender Sale, Hawaii Kai, Kalama Valley, Mariner’s Ridge, Kamilo Nui, Triangle, Portlock

Address

Nbrhd

Lnd SqFt

Liv SqFt

BR

YB

List Price
1446 Maloo Pl

KALAMA VAL

3,914

1,252

3

1984

$489,000
7739 Waikapu Lp

KALAMA VAL

5,597

1,674

4

1973

$599,000
520 Lunalilo Home Rd 326

WEST MARIN

0

1,648

3

2002

$719,000
1007 Kaluanui Rd

MARINERS R

7,504

1,896

3

1974

$899,000
1024 Kaolo St

KAMILO NUI

7,507

2,193

4

2003

$950,000
891 Hokulani St

HAHAIONE-U

8,469

2,053

3

1988

$700,000
46 Nawiliwili St

TRIANGLE

10,185

2,658

4

1966

$1,165,000

Townhomes and Condos, Short Sale, Foreclosure Sale, Bankrupty or Lender Sale

Address

Unit #

Nbrhd

Bldg Name

Int SqFt

Lanai

BR

YB

List Price
555 Hahaione St 10F

10F

HAHAIONE-L

Commodore

1,019

62

1

1982

$405,000
555 Pepeekeo St Unit #3

Unit #3

HAHAIONE-L

Village Green

1,305

120

3

1969

$440,000
520 Lunalilo Home Rd 8108

8108

WEST MARIN

Colony at the Peninsula

1,269

109

2

2004

$495,000
520 Lunalilo Home Rd 6102

6102

WEST MARIN

Colony at the Peninsula

1,457

148

3

2004

$535,000
6370 Hawaii Kai Dr 3

3

WEST MARIN

Moorings

1,332

190

4

1969

$549,900
123B Maunalua Ave 16

16

NAPUA POIN

Napua Point

1,628

47

3

1980

$599,000
444 Lunalilo Home Rd 902

902

WEST MARIN

Kaimala Marina

1,282

344

3

1972

$460,000
7116 Hawaii Kai Dr 64

64

WEST MARIN

Lalea At Hawaii Kai 1

1,075

317

3

1997

$479,000
520 Lunalilo Home Rd 6119

6119

WEST MARIN

Colony at the Peninsula

1,287

109

2

2004

$509,000
904 Koko Isle Cir 2302

2302

WEST MARIN

Koko Isle

1,508

0

3

1968

$525,000
7012 Hawaii Kai Dr 1001

1001

WEST MARIN

Moana Kai

1,550

0

3

2005

$571,900
7146 Hawaii Kai Dr 142

142

WEST MARIN

Lalea At Hawaii Kai 2

947

0

2

1997

$415,000

Commodore, Village Green, Colony at the Peninsula, Koko Isle, Moana Kai, Lalea At Hawaii Kai 2, Lalea, Kaimala Marina, Hawaii Kai

Tags: Hawaii Kai, Kaimala Marina, Kalama Valley, Kamilo Nui, Mariners Ridge, portlock, Triangle

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Hawaii Investments – How and Why to Buy Condos, Homes and Commercial Investments

10-01-09
Hawaii Home Frank Diaz

Hawaii Investment Property Homes and Condos

Hawaii follows an 8 to 10 year cycle of plateaus, dips and rises in value. Home prices doubled (5MB PDF) from 2003 to 2006. On Maui they nearly tripled. Another interesting item is that recessions have been occurring approximately every 11 years, 1980, 1991 and 2002. After each recession home prices climbed for 6-8 years then leveled off or dipped. Prices peaked in 1983, 1991 and early 2006. As of the fall of 2009, median prices are aout 20% below their peak, and approaching 2005 prices. Now is the time to make a Hawaii real estate investment for numerous reasons, not the least of which is interest rates have bottomed out.

HEC’s (Hawaii Economic Council’s) survey also shows that 44 percent of company job groups will not see an increase in their pay for 2009.

Visitor industry recovery will be slow, held back by cautious consumers in the US and Japan. The hotel occupancy rate will average an abysmal 66.1% this year and will remain below 70% until the end of 2011. Job losses will end by early 2010, but the average job count in 2010 will still be eight-tenths of a percent lower than this year. The unemployment rate stabilized over the summer in the 7.0-7.4% range, but we expect a further rise to an average rate of 8.1% in 2010.

Combine all of this with a massive decrease in State spending, a$2 billion budget shortfall and union and school layoffs, and you have a “Buyer’s Market.” Hawaii’s unemployment is the highest that it has been in 30 years. The Department of Business, Economic Development & Tourism economic indicators shows a decline in general excise tax payments of over 30%! Existing home sales volume is down over 15% from last year. Maui, Kauai and Hawaii are seeing similar or worse numbers.

“Between 2017 and 2020, the median home price will be over a million (dollars), said Carl Bonham, UHERO executive director. “When we get to the peak of the next housing cycle, home prices will have doubled again,” as they did from 1998 to 2006 according to a Star Bulletin report. This is often said about an investment in Hawaii homes, they double in cycles.

Due to an anticipated rise in mortgage rates and additional factors, the affordability index will likely be at 50 percent or below by 2017 or 2018, “so the most affordable time (to buy a single-family home) is probably this year and next year,” Bonham said. The last time the index exceeded 100 percent was in 2001.

So, when you’re ready to take a serious look at hawaii investments, properties such as commercial real estate, homes and condos should be at the top of your list. Send me an email at frank@hawaiihome.biz

hawaii investment, hawaii properties, hawaii property

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Hawaii Real Estate Sites and Member Update

10-01-09
Hawaii Home Frank Diaz

Hawaii Real Estate Sites and Member Update

Are Realtors® Weathering the Real Estate Market?

The Hawaii Real Estate Branch (REB) is part of the Professional and Vocational Licensing Division (P&VLD) of the Hawaii Department of Commerce & Consumer Affairs (DCCA). The Real Estate Commission is one of numerous boards and commissions under the DCCA and the Commission’s office is in Honolulu. The Real Estate Branch assists the Real Estate Commission with its responsibilities for licensing, education and discipline of real estate licensees. In June 2008, of the approximate 15,000 real estate salespersons in Hawaii (PDF), roughly 9,200 had active licenses and 5,800 were inactive. There are 5,650 active brokers (674 inactive). Total of all licensees was 21,227, inactive at 6,497.

By February 2009 the number of total active brokers was 3,130 (inactive 606) and salespersons was 9,072 (6,254 inactive). This puts the total number licensees at 21,868, of active licensees at 14,903 and inactive at 6,985 (an increase of approximately 500 inactive licensees in 8 months).

Hawaii Real Estate Sites

Honolulu Board of Realtors

Hawaii Association of REALTORS®

Real Estate Commission Licensing Information

Search for Active Hawaii Licensees & Businesses

Department of Taxation’s Electronic Services

Department of Taxation Alphabetical Forms List

Online Real Estate License Renewal

National and International Real Estate Sites

National Association of REALTORS®

Real Estate Specialty Organizations

Appraisal

Certified Commercial Investment Member (CCIM) Institute

Certified International Property Specialist Network

Commercial Real Estate

Council of Residential Specialists (CRS) formerly Residential Sales Council

Counselors of Real Estate (CRE)

Department of the Treasury Auction Information

Institute of Real Estate Management (IREM)

Council of Real Estate Brokerage Managers (CRB)

Real Estate BUYER’S AGENT Council (REBAC)

REALTORS® Land Institute (RLI)

Resort Specialists

Society of Industrial and Office REALTORS® (SIOR)

Women’s Council of REALTORS® (WCR)

NAR Info – Careers in Real Estate

HUD Info – Fair Housing

American Homeowner Education and Counseling Institute (AHECI)

American Society of Home Inspectors (ASHI)

Association of Real Estate License Law Officials (ARELLO)

Employee Relocation Council (ERC)

HealthHouse.org

Mortgage Bankers Association of America

National Association of Home Builders (NAHB)

National Association of the Remodeling Industry (NARI)

National Board of Certification for Community Association Managers

Web site of its parent organization, the Community Association Institute.

National Trust for Historic Preservation

Real Estate Educators Association (REEA)

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Hawaii Homes board of realtors, ccim, cips, crs, Hawaii Realtor

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State of Hawaii Government Furlough Plan

09-28-09
Hawaii Home Frank Diaz

State of Hawaii Furlough Plan for State Employees

Governor Linda Lingle announced details of the Administration’s plan to furlough all state employees in the Executive Branch to help close the unprecedented $2.7 billion revenue shortfall projected between now and June 30, 2011. The furlough plan represents the first time labor costs are being impacted to address the state’s budget gap.

Starting July 1, 2009 and continuing through June 30, 2011, full-time employees in the Executive Branch will be placed on furlough for three days (24 hours) per month. Part-time employees will be placed on furlough on a pro-rated equivalent basis.

The statewide furlough plan will save an estimated $688 million over the next two years and will avoid having to lay off employees at this time. In addition, furloughs will allow the state to continue to provide public services, maintain employee benefits and avoid recruitment and training costs for new employees when the economy recovers.

The furlough plan applies only to employees in the Executive Branch, including the Governor’s Office, Lt. Governor’s Office and 16 state departments and their attached agencies.

Read the Administration’s Furlough Plan.

Read state employee furlough Q & A part one and part two.

Read the Governor’s executive order.

Attachment A (State government departments)

Attachment B FY10 (Furlough calendar for: Department of Accounting and General Services; Department of Agriculture; Department of the Attorney General; Budget & Finance; Department of Business, Economic Development and Tourism; Department of Commerce and Consumer Affairs; Department of Hawaiian Home Lands; Department of Land and Natural Resources; Department of Health; Department of Human Resources Development; Department of Human Services; Department of Labor and Industrial Relations; Department of Public Safety; Department of Transportation and Office of Information Practices)

Attachment B FY11 (Furlough calendar for: Department of Accounting and General Services; Department of Agriculture; Department of the Attorney General; Budget & Finance; Department of Business, Economic Development and Tourism; Department of Commerce and Consumer Affairs; Department of Hawaiian Home Lands; Department of Land and Natural Resources; Department of Health; Department of Human Resources Development; Department of Human Services; Department of Labor and Industrial Relations; Department of Public Safety; Department of Transportation and Office of Information Practices)

Attachment C FY10 (Furlough calendar for: State Foundation on Culture & the Arts)

Attachment C FY11 (Furlough calendar for: State Foundation on Culture & the Arts)

Attachment D FY10 (Furlough calendar for: Department of Taxation)

Attachment D FY11 (Furlough calendar for: Department of Taxation)

Attachment E FY10 (Furlough calendar for: Hawai`i Public Housing Authority)

Attachment E FY11 (Furlough calendar for: Hawai`i Public Housing Authority)

Attachment F FY10 (Furlough calendar for: Community Mental Health Centers – Neighbor Islands)

Attachment F FY11 (Furlough calendar for: Community Mental Health Centers – Neighbor Islands)

Office of the Governor (GOV)
Office of the Lieutenant Governor (LTG)
Department of Accounting & General Services (DAGS)
Department of Agriculture (DOA)
Department of the Attorney General (AG)
Department of Budget and Finance (B&F)
Department of Business, Economic Development and Tourism (DBEDT)
Department of Commerce and Consumer Affairs (DCCA)
Department of Defense (DOD)
Department of Hawaiian Home Lands (DHHL)
Department of Health (DOH)
Department of Human Resources Development (DHRD)
Department of Human Services (DHS)
Department of Labor and Industrial Relations (DLIR)
Department of Land and Natural Resources (DLNR)
Department of Public Safety (DPS)
Department of Taxation (TAX)
Department of Transportation (DOT)

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Federal-State-News furlough, hawaii state, state of hawaii

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