July Oahu Real Estate Market Update
Oahu saw a 5.6% increase in the number of sales for July 2009 compared to July of 2008 for single family homes. The median property price dropped by 4% for the same time periods. Although the number of sales were better prices continue to fall, but not as bad as previous months.
| Oahu Home Sales July 2008 vs. 2009 | |||||
| # Sales & Median $$ | |||||
| Neighborhood | 2008 | 2009 | 2008 2009 | ||
| Honolulu | 14 | 17 | $ 830,000 | $ 712,500 | |
| Waialae-Kahala | 14 | 7 | $1,300,000 | $ 1,500,000 | |
| Kapahulu-Diamond Head | 12 | 18 | $ 780,000 | $ 743,500 | |
| Hawaii Kai | 16 | 20 | $ 868,000 | $ 750,000 | |
| Aina Haina-Kuliouou | 5 | 2 | $ 885,000 | $ 863,000 | |
| Kailua-Waimanalo | 24 | 27 | $ 785,000 | $ 710,000 | |
| Kaneohe | 17 | 14 | $ 705,500 | $ 629,000 | |
| Moanalua-Kalihi | 12 | 8 | $ 632,500 | $ 552,500 | |
| North Shore | 10 | 6 | $730,000 | $ 684,500 | |
| Wahiawa | 8 | 5 | $ 442,500 | $ 361,000 | |
| Mililani | 21 | 20 | $ 595,000 | $ 585,000 | |
| Makaha-Nanakuli | 8 | 17 | $ 392,500 | $ 270,000 | |
| Ewa-Kapolei-Ko Olina | 45 | 51 | $ 455,000 | $ 428,000 | |
| Makakilo | 5 | 12 | $ 500,000 | $ 510,000 | |
| Waipahu | 15 | 18 | $ 565,000 | $ 514,300 | |
| Pearl City-Aiea | 12 | 20 | $ 595,000 | $ 562,500 | |
The number of condo sales dropped by 10.4% in July of 2009 compared to July of 2008. The prices were down 5.4% compared to last June. Unlike single family market, some areas actually went up in price in markets like Waikiki, Hawaii Kai, and Kalihi areas. This month was definitely encouraging compared to earlier months in the year.
| Oahu Condo Sales July 2008 vs. 2009 | |||||
| # Sales & Median $$ | |||||
| Neighborhood | 2008 | 2009 | 2008 2009 | ||
| Waikiki | 70 | 61 | $ 222,500 | $ 300,000 | |
| Downtown -Nuuanu | 29 | 21 | $ 491,000 | $ 345,000 | |
| Kapahulu-Kuliouou | 15 | 8 | $ 405,000 | $ 402,000 | |
| Hawaii Kai | 16 | 17 | $ 498,000 | $ 512,000 | |
| Maikiki – Moiliili | 43 | 44 | $ 338,000 | $ 289,500 | |
| Kailua-Waimanalo | 4 | 4 | $ 348,000 | $ 307,500 | |
| Kaneohe | 12 | 18 | $ 406,000 | $ 365,000 | |
| Moanalua-Salt Lake | 21 | 14 | $ 319,900 | $ 297,500 | |
| North Shore | 3 | 2 | $ 410,000 | $ 282,500 | |
| Wahiawa | 3 | 1 | $ 250,000 | $ 138,000 | |
| Mililani | 21 | 24 | $ 325,000 | $ 275,500 | |
| Makaha-Nanakuli | 3 | 9 | $ 154,000 | $ 130,000 | |
| Ewa-Kapolei-Ko Olina | 24 | 22 | $ 342,500 | $ 287,500 | |
| Makakilo | 8 | 8 | $ 334,000 | $ 227,500 | |
| Waipahu | 26 | 12 | $ 315,000 | $306,500 | |
| Pearl City-Aiea | 32 | 22 | $ 278,000 | $ 299,500 | |
July 2009 Maui Real Estate Market Update
Residential Home Sales declined (-40%), average sold price = $741,097 (-17%), median price = $517,732 (-13%). Condo Unit sales declined (-32%), average sold price = $724,411 (-24%) and Land sales median price was $512,000 down (-30%).
| Maui home Sales July 2008 vs. 2009 | |||||
| # Sold – Median $ | |||||
| Neighborhood | 2008 | 2009 | 2008 2009 | ||
| Haiku | 3 | 7 | $878,000 | $888,000 | |
| Kaanapali | 2 | 0 | $1,389,000 | $0 | |
| Kihei | 23 | 5 | $764,801 | $2,012,500 | |
| Lahaina | 1 | 2 | $450,000 | $737,500 | |
| Makawao/Olinda/Halimaile | 5 | 4 | $437,000 | $409,500 | |
| Maui Meadows | 1 | 2 | $1,050,000 | $837,500 | |
| Napali / Kahana | 4 | 4 | $912,500 | $ 411,000 | |
| Pukalani | 4 | 4 | $672,500 | $511,000 | |
| Sprecklesville / Paia/ Kuau | 2 | 0 | $775,000 | $0 | |
| Wailea Makena | 4 | 1 | $5,975,000 | $1,245,000 | |
| Island of Maui | 97 | 57 | $610,000 | $532,000 | |
Maui Condo Unit prices are down to $350,000 compared to $575,000 the same month last year. It appears that the numer sales are slightly up to 69 compared to 63 in 2008 for the month of July.
| Maui Condo Sales July 2008 vs. 2009 | |||||
| # Sold – Median $ | |||||
| Neighborhood | 2008 | 2009 | 2008 2009 | ||
| Central | 5 | 10 |
$246k |
$177,500 | |
| Kaanapali | 0 | 6 | $0 | $1,015,000 | |
| Kihei | 26 | 26 | $365,500 | $257,500 | |
| Lahaina | 0 | 2 | $ 0 | $152,500 | |
| Maalaea | 4 | 3 | $500,000 | $ 340,000 | |
| Molokai | 0 | 1 | $ 0 | $ 170,000 | |
| Napali / Kahana | 8 | 9 | $725,000 | $386,000 | |
| Pukalani | 0 | 1 | $0 | $ 643,000 | |
| Kapalua | 1 | 2 | $1,025,000 | $535,000 | |
| Wailea Makena | 17 | 8 | $2,398,951 | $711,500 | |
| Island of Maui | 63 | 69 | $575,000 | $350,000 | |
You can also search all Maui real estate and get new properties emailed to you daily or weekly. Information on June sales on the island of Maui was provided by Gary Bland a Maui real estate expert.
July 2009 Big Island Market Update
For the month of July, the number of Kailua-Kona homes sales almost doubled compared to July ‘08 sales and the Median sale price is down about $90,000 to $432,500. In general, Median Sale prices are lower in almost all districts of the Big Island, with exceptions in South Kona and North Hilo.
| Big Island Hawaii home Sales July 2008 vs. 2009 |
|||||
| Homes Sold | |||||
| Neighborhood | 2008 | 2009 | Median Sale Prices | ||
North Kohala |
3 | 4 | $ 1,175,000 | $ 930,000 | |
Kohala Coast |
13 | 14 | $ 400,000 | $ 356,500 | |
Kailua – Kona |
14 | 26 | $ 522,500 | $ 432,500 | |
South Kona |
4 | 3 | $ 322,500 | $ 375,000 | |
| Kau | 7 | 3 | $ 218,000 | $ 120,000 | |
| Hamakua Coast |
4 | 1 | $ 307,000 | $ 160,000 | |
North Hilo |
1 | 1 | $ 450,000 | $ 475,000 | |
| Hilo | 19 | 17 | $ 340,000 | $ 257,000 | |
| Puna | 35 | 41 | $ 239,500 | $ 164,900 | |
| Big Island of Hawaii | 100 | 108 | $ 299,000 | $ 261,950 | |
The same story here for Big Island Condo Median Sale Prices… All districts are down and Kailua-Kona shows one of the largest decreases. Kona condo Median Prices are down just over $100,000 from last year, while the number of sold units remained about the same. The number of condo sales on the Kohala Coast is down 50%.
| Big Island Hawaii Condo Sales July 2008 vs. 2009 | |||||
| Condos Sold | |||||
| Neighborhood | 2008 | 2009 | Median Sale Prices | ||
North Kohala |
0 | 0 | $ 0 | $ 0 | |
Kohala Coast |
12 | 6 | $ 523,000 | $ 512,500 | |
Kailua – Kona |
14 | 15 | $ 302,000 | $ 200,000 | |
South Kona |
1 | 0 | $ 235,000 | $ 0 | |
| Kau | 0 | 0 | $ 0 | $ 0 | |
| Hamakua Coast |
0 | 0 | $ 0 | $ 0 | |
North Hilo |
0 | 0 | $ 0 | $ 0 | |
| Hilo | 5 | 4 | $ 159,000 | $ 103,000 | |
| Puna | 0 | 0 | $ 0 | $ 0 | |
| Big Island of Hawaii | 32 | 25 | $ 324,500 | $ 200,000 | |
Our Current Market Conditions… There are 609 Single Family Homes on the market for the Kona/Kohala Coast, 104 homes in escrow and 40 homes sold during July. We still have a 15 month supply of homes.
For Kona/Kohala Coast Condos, there are currently 666 on the market for sale, 57 in escrow and 21 sold in the past month. That’s about a 32 month supply of condos, which slightly lower than our last report.
Information on July sales for the Big Island of Hawaii was provided by , Kurt & Kirsten Carlson Big Island real estate experts.
July 2009 Kauai Real Estate Market Update
Kauai’s real estate market is directly driven from a supply and demand factor. With the recent reduced price for properties and more volume to choose from this is becoming an ideal time to purchase
July 2009 compared to 2008 Kauai homes saw a small decrease in sale volume of of 7% and a decrease in the median price range of 21%.
| Kauai home Sales July 2008 vs. 2009 | |||||
| #Sales & $Median | |||||
| Neighborhood | 2008 | 2009 | 2008 2009 | ||
| Waimea | 2 | 4 | $ 426,000 | $ 345,000 | |
| Koloa | 6 | 7 | $ 1,454,000 | $ 450,000 | |
| Lihue | 5 | 1 | $ 500,000 | $ 545,000 | |
| Kawaihau | 14 | 7 | $ 517,500 | $ 379,000 | |
| Hanalei | 4 | 8 | $ 1,125,000 | $ 578,000 | |
| Island of Kauai | 31 | 27 | $ 575,000 | $ 450,000 | |
July 2009 compared to 2008 Kauai Condos saw a decrease in sale volume of 6.6 % and a decrease in the median price range of 32%
| Kauai Condo Sales July 2008 vs. 2009 | |||||
| #Sales & $Median | |||||
| Neighborhood | 2008 | 2009 | 2008 2009 | ||
| Waimea | 0 | 0 | $ 0 | $ 0 | |
| Koloa | 4 | 5 | $ 515,000 | $ 5995000 | |
| Lihue | 2 | 4 | $ 305,000 | $ 182,500 | |
| Kawaihau | 3 | 2 | $ 315,000 | $ 185,000 | |
| Hanalei | 6 | 3 | $ 830,380 | $ 600,000 | |
| Island of Kauai | 15 | 14 | $ 570,000 | $ 367,500 | |
In Summary with a Decline in prices and more inventory many buyers are coming out an taking advantage of this incredible market of owning in Hawaii.
Information on July sales on the island of Kauai was provided by Russell Tucker