Honolulu Condos: August 2009

We're going to be holding this great condo open on Sunday 8/30/09, 2:00 to 5:00 pm.  If you're in Honolulu and looking for a great vacation or investment property, stop by and say hello.

For those of you who are not lucky enough to be in Hawaii, the video here can give you a good idea as to what a nice unit this is.

For further information about the Waikiki Landmark or other featured condo buildings in Honolulu and Waikiki, please visit www.HNLCondos.com.

The better questions to ask is.......

Will the Oahu Real Estate Market Recover More Quickly than the Mainland?

Lower condo prices are attracting investors into the Oahu real estate market and appear to be helping it recover faster than many other real estate markets across the Country.

One primary asset Oahu has going for it is that it is a Hawaiian island and a most desirable destination. A large portion of Hawaiian real estate represents second home ownership and the desire to visit Hawaii and own property there is one that will stand the test of time.  Inventory is limited on an island.  Simple supply and demand dictates that even when there are less buyers, limited inventory will help stabilize prices and actually keep them from dropping lower.

While there is no doubt that real estate on Oahu has taken a hit and will perhaps drop more, it is still estimated by many experts that the real estate downturn will be shorter lived on Oahu than for the majority of the mainland United States.

Couple that with the fact that a large percentage of Hawaii and Oahu condo purchases are made by buyers on the West Coast of the U.S., seeing some positive signs of stabilization and recovery in the California, Oregon and Washington State real estate markets is a very positive sign.

Certainly, there's no doubt that if you've always dreamed of owning a condo in Honolulu there could not be a better time to buy.

For more information about Honolulu Condos and the real estate market, please feel free to visit our website at www.HNLCondos.com.

Search For Your Honolulu Condo.

KanDoo! Island is a floating pleasure dome by day or night

There are sooooo many fun activities to be found in and around Honolulu and Waikiki!

KanDoo! Island, a floating playground 200 yards off Waikiki, has officially launched. The "island," a steel catamaran that includes a water slide, water trampoline, sun deck, four bars and food service among its attractions, offers more than 20 ocean activities, from ultimate parasailing (1,000 feet high) to underwater helmet diving - without getting your hair wet - to swimming and snorkeling. Or visitors can simply zone out on the sun deck.

The 148-foot-by-48-foot vessel is moored in about 50 feet of water roughly opposite the Sheraton Waikiki.

KanDoo! Island operates 9 a.m. to 9 p.m. daily with food and beverages served all day. After sunset, KanDoo! becomes a romantic evening getaway spot/night-club. Shuttle boats depart Kewalo Basin every 20 minutes. A four-hour admission to the island is $20 for adults, $10 children, plus cost of activities. Kama'aina now get four hours free admission and 25 percent off activities. http://www.gokandoo.com/.

And, if you'd like to learn more about activities and lifestyle in Honolulu, please click here.

There are many Hawaiian proverbs and sayings that have been fun learning and even more entertaining trying to speak and pronounce correctly. 

Here is another one of my favorites:

I Kanaka No 'Oe Ke Malama I Ke Kanaka.

Which translates as:

You will be well served when you care for the person who serves you.

Respect those around you - ancestors, family, friends and strangers - all are teachers

Be good to your self - respect, love and cherish yourself

Be True to You.

For more cultural information about Hawaii, please feel free to visit our website at:

www.HNLCondos.com

Kakaako: not just for downsizing

Varied amenities, demographics, have broad appeal

A recent article in the Sunday edition of the "Honolulu Advertiser" outlined some of the great benefits of this neighborhood.

Located just a few blocks east of Waikiki and immersed in culture and idyllic beauty, Kakaako's vibrant downtown-like energy is the perfect fusion of the most sought-after amenities and ocean views. And when combined with low-maintenance living, savory eateries and walk-anywhere convenience, Kakaako's growing appeal is contagious among buyers of all ages.

The typical resident has an active lifestyle and many enjoy exercise and ocean activities.  It's also nice to be able to travel and just lock the door behind you, knowing that the building is safe and sound.

For more information about the Kakaako neighborhood, read the rest of the article by clicking here.  (Please Note: Newspaper article links usually expire after 30 days from publication.)                   
                                                                                                                                 

For further information about this neighborhood and other Honolulu neighborhoods, please visit our website at http://www.hnlcondos.com/neighborhoods.htm.

The islands' laid-back charm and no-rush attitude are known around the world, but a new study may confirm what residents have known all along - Hawaii is the least-stressed state in the nation...according to a recent national study.

When times are hard on many Americans, there is no other place I would rather be than a place that helps ease stress.  Warm sun, great beaches, laid back lifestyle.  Life truly is easier on the mind here, but I guess we need a study to prove this to the world?

According to the study, to be published in the June issue of the American Journal of Preventive Medicine, "The Aloha State had the nation's lowest rate of frequent mental distress, or FMD, for adults. Hawaii's rate of 6.6 percent was lower than the national average of 9.4 percent"

It is easy to work in these conditions!

Oahu real estate prices, whether they have reached bottom or not have fallen significantly.  Often those who are waiting for an absolute bottom miss the boat because the bottom isn't known until it is passed. 

A recent article in the Star Bulletin has experts giving their opinions on Hawaii real estate.  John Riggins was quoted in the article as saying "In Ko Olina we've seen properties that sold for $1.5 million a year ago sell for $825,000 today, and some Kapolei properties that changed hands for $900,000 are now closer to $600,000." 

Hawaii real estate experts don't appear to fully agree on whether we have hit bottom or still have a ways to fall.  Mainland real estate sales are seeing a rebound but Hawaii's real estate market is not expected to be on the rebound yet.  What does this mean if you have been interested in Oahu real estate? Now might be the time to start looking before the market rebounds and you can get a deal on Honolulu Condos.

For more information about Honolulu Condos, please contact Douglas Fischer, R.A., RE/MAX Honolulu, or visit his website at www.HNLCondos.com.

Celebrating 14 years as Hawaii's largest emporium and most diverse marketplace of local products, the Made in Hawaii Festival returns to the Neal S. Blaisdell Center's Exhibition Hall and Arena on Friday, August 21 through Sunday, August 23.

As Hawaii turns 50, the "Keep Aloha Strong - Buy Hawaii for Hawaii" themed event will feature more than 420 booths of exhibitors offering a diverse assortment of the latest and greatest finds as well as old favorites.

Festival-goers will enjoy shopping for a selection of ono food, books, unique gifts, arts & crafts, music, plants, jewelry and more.

You can also enjoy entertainment from some of Hawaii's best entertainers including: Makana, Frank Delima, Jerry Santos, Jay Larrin, Kaukahi, Hoku Zuttermeister, Maunalua, Napua Greig, Genoa Keawe Ohana, Cyril Pahinui, Natalie Ai Kamauu, Eddie Kamae, Darren Benitez, Nohelani Cypriano, Kelii Kanealii, Mailani, Melveen Leed and Danny Couch.

I can't tell you how much free (or very inexpensive) live music there is to enjoy here.  I've become a huge fan of slack-key guitar as well as some of the excellent falsetto vocalists.  Where's my maitai??

There are many Hawaiian proverbs and sayings that have been fun learning and even more entertaining trying to speak and pronounce correctly. 

Here is one of my favorites:

"A'ohe pau ka 'ike i ka halau ho'okahi"

Which means:

"All knowledge is not taught in the same school", by Mary Kawena Pukui

Fore more interesting Hawaiian cultural information, please feel free to visit out website at:

www.HNLCondos.com

I just completed attending a RE/MAX sponsored discussion group with a local appraiser,  It was very interesting, and educational, to say the least.

The good news is that a human being does an appraisal.  The bad news is that a human being does an appraisal.

I was surprised to learn that there was a fair amount of subjectivity, based on experience, when it came to adjusting prices relative to comps.  We walked through a typical appraisal, with three comps and saw how value adjustments were made with respect to difference in square footage, remodeling, lot size, number of bathrooms, etc.  While many think there is a "big book" where an appraiser gets these dollar adjustment amounts, the actual adjustments are made by personal rule of thumb and experience with the market place.

Obviously, there is great concern today about making certain the appraiser you are working with has experience in the location or neighborhood of the subject property.  And, the more years experience they on the job is of great concern as well.

The biggest issue, or most questions had to do with whether real estate agents can communicate with the appraiser, now that we have new Federal regulations in place.  The answer is YES.....as long as we are providing factual, objective, truthful information, and NOT trying to coerce a higher or different appraisal or outcome.

In fact, the appraiser welcomes comps, any detailed information about the subject property, and even more important, any detailed, or even inside information, about potential comparable properties.  Make certain that occurs before the appraisal is complete, though.  The best way to do this is when you meet the appraiser at the subject property.

We all rely on the services of a  professional and accurate appraiser.  It's good to know that they want to do the best job possible, for all parties invlolved and welcome any and all input.