Honolulu Condos: April 2010

Honolulu Condos and Homes - Listing Alerts 4/28/10

Aloha!

Please view the links below for this week's Listing Alerts.

Don't miss the HOT LINKS at the bottom of this newsletter for such distressed property listings as:  Lender Owned Condo Listings

• Lender Owned Single Family Home Listings*
• Lender Owned Condo Listings
• Foreclosure Condo Listings
• Short Sale Condo Listings 

*NEWLY ADDED

Also, please feel free to visit our website, one of the most complete Honolulu Condominium Directories available online at www.HNLCondos.com.

NEW CONDO LISTINGS

These condo listings are new listings that have come on the market for sale, since last week's newsletter.

ALA MOANA NEW CONDO LISTINGS

DIAMOND HEAD NEW CONDO LISTINGS

DOWNTOWN/CHINATOWN NEW CONDO LISTINGS

KAKAAKO NEW CONDO LISTINGS

KAPIOLANI NEW CONDO LISTINGS

MAKIKI NEW CONDO LISTINGS

WAIKIKI NEW CONDO LISTINGS

To view all Honolulu condo listings please visit the MLS Search page on our Website or set up your own Listing Manager Account.

DISTRESSED CONDO AND HOME LISTINGS - HOT LINKS

Distressed Bargain Properties for April 28th, 2010

These distressed Condo and Single Family Home listings include REO, or lender owned properties, foreclosures and short sales. All the distressed Condo listings are for Metro Honolulu only, while the Lender Owned Single Family Home Listings are for Metro Honolulu as well as the entire island of Oahu. New Listings are new this week, since last week's newsletter.

Please click here to read a complete definition or description of Lender Owned, Foreclosure and Short Sale Properties .

NEW LENDER OWNED CONDO LISTINGS - No New Listings This Week

West Waikiki Condo - Wailana #1708 2bd/2ba for $388,888

West Waikiki

Wailana Condos #1708

1860 Ala Moana Blvd #1708
Honolulu, HI 96815


Price: $388,888

2 Bedrooms, 2 Bathrooms
1304 Square Ft

Listing # 2915350

Beautifully remodeled, must see. Kichen granite, new appliances SS,wood and marble floors. Seller will consider Agreement of Sale. 10% down 5 years interest only payment @ 5.5 Int., or will consider interest + principle. Owner leaving town due to illness.

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Basic Features:

Acres: 0.938
Region: Metro
City Name: Honolulu
County Name:
Neighborhood: WAIKIKI
Schools: Ala Wai
State: HI
Sub Area:
Subdivision:
Type:
Zip: 96815
Bathrooms: 2
Bedrooms: 2
Partial Baths:
Square Ft: 1304

Additional Features:

Additional Rooms: Dining Area,Laundry Room,Open Lanai
Amenities: BBQ,Heated Pool,Meeting Room,Patio/Deck,Pool,Recreation Area,Resident Manager,Restaurant,Security Guard,Storage,Trash Chute
Building Name: Wailana At Waikiki
Building Style: High-Rise 7+ Stories
Floor Covering: Ceramic Tile,Laminate,Marble/Granite
Frontage: Other
Furnished: P
Interior Living Area: 1180
Land Area: 43127
Maintenance Fee Includes: AC Central,Cable TV,Electricity,Gas,Hot Water,Internet Service,Sewer,Water
Monthly Maintenance Fee: 815
Parking Spaces: 1
Parking: Assigned,Garage,Guest
Prop Condition: Excellent
Remodel Year: 2006
Security: Card,Keyed Elevator,Security Patrol,Video
Property Type: Condo
Unit Features: Central AC,Even# Unit,Storage
View: Coastline,Diamond Head,Garden,Ocean,Sunset
Year Built: 1970
Land Tenure: Leasehold

Please Note:  This is not my listing, however, I can show you this property and others, as well as represent you as a buyer.

For More Information about Wailana Condos for sale, including floor plans, map, current listings and more photos, visit our website for featured information at http://www.HNLCondos.com.

Waikiki Homebuyer-Investor Guide

I just love living in Waikiki and selling condos here.  I was thrilled, when reading the Sunday paper, the "Honolulu Advertiser", I ran across this great article about buying and investing in a condo in Waikiki.  I couldn't have written it better!

Buy in Waikiki? For many investors, it's a no brainer. Here are five reasons why it might work for you too:

1. Condo hotels. Financing one of these converted hotel rooms can be difficult. The lending environment has strict guidelines - the unit needs to have a kitchen, with a cooktop, a sink and refrigerator, and even still buyers need to have 35 percent down. Units without a kitchen, called "lodging units," require even more money down.

But if you're able to front the cash, buying the right condo hotel can be a huge money maker, according to Toan Doran, Realtor and partner at Prudential Locations. And you'll have lots of leverage to negotiate a great price.

"I looked up the sales history at the Waikiki Grand for a client recently," says Doran. "Unit 409 sold for $325,000 in 2006 and is now listed for $199,000. My client likes the building because of the ocean view, nothing is in front of it except for the zoo."

2. Smaller is better. Doran does the math for all of his clients so they can see the logic for themselves. Generally, prices jump from $75,000 to $100,000 more for a 2-bedroom as opposed to a studio or 1-bedroom. Crunch the numbers and you'll see the rental income for a 2-bedroom, won't offset that. Use the money to diversify - buy two smaller units instead of one big one, says Doran.

"It doesn't make sense to pay more to buy a 2-bedroom," says Doran. "If you have a 2-bedroom, you only have one set of renters. If you own two 1-bedroom units, you'll have two sets of renters. So if one unit is empty one month, the other one is still producing income."

3. Parking. The market value of a parking stall in Waikiki is between $45,000 and $50,000, says Doran. But it is not a deal breaker if a unit doesn't automatically come with a stall.

"Island Colony, for example, has a garage in the building and tenants can rent a spot there if they want one," he says. "When I advise investors about parking, I tell them it doesn't hurt to not have one. Tenants might work in Waikiki or take the bus. They might not need parking. But for resale, units do sell faster with a parking stall."

4. Investor criteria. Doran's personal philosophy about investing - this is why you need to have a great Realtor working for you - is all about finding the right building. Find one that is well managed, well maintained, has a low maintenance fee and no assessments and you've found a winner.

"Make sure to look at the quality of the building and how well it's maintained," says Doran, who has lived and owned in Waikiki since 1997. "One of the buildings I like to recommend* is well maintained, and the maintenance fee for a typical 533-square-foot unit is $290 a month, and that includes the electricity - all the air conditioning - the cable, hot water, sewer, water, everything except phone."

He keeps some of his best finds for his own investors/clients. Many international owners rent it out most of the time, but also stay there when they're in town.

"The maintenance fee is so low there, because there are two buildings so the expenses are distributed over more homeowners, plus there are commercial spaces below and a public parking lot, which bring in money," Doran adds. "Look for buildings that include utilities in the maintenance fee. You can charge a renter a little more when those are included."

5. Tourism. Waikiki is possibly the most famous beach in the world.

"If you go to the Middle East and say 'Waikiki,' people have heard of it," Doran says. "The name itself is so well known. This is the apple of the state's eye and they spend millions maintaining it and promoting it."

Doran describes a city utility truck he sees on Kalakaua regularly that has a man riding in back holding a rigid hose who reaches up to water the plants in the flower pots up on the green street lights.

"I just chuckle when I see them because I think, 'the state is paying to keep up my neighborhood,' " he says. What other neighborhood would you ever see that happening?"

Waikiki has an array of products ranging from $199,000 condo hotels in the Waikiki Grand to $4 million dollar condos at Trump Tower. With all the money invested in keeping up it's image, Waikiki's real estate market tends to remain stable during the bad times and appreciates in good times.

Doran contends that Waikiki is one of the best neighborhoods on the island to invest in because it attracts money from around the world.

"Waikiki is its own universe," he says. "It has everything. You never have to leave."

*Wondering what that building is?  It's Waikiki Banyan, at 210 Ohua Ave.  Please feel free to visit our website at www.HNLCondos.com for details, floor plans, map and current listings.

A Waikiki Stroll at Night

I was reading an online article at "Pacific Reader", written by Taryn Wong, and found it worth sharing.  Waikiki is really a very colorful and interesting place.....at any time of day!!

Normally you will never find me in the Waikiki area in my leisure time, let alone at night, but last Sunday night I found myself roaming the streets of Waikiki killing sometime before I had to be somewhere.  I was surprised to see so many people crowding the Kalakaua Avenue on a Sunday night.  Since the revamp of Waikiki like the opening of the Cheesecake Factory, Senor Frogs, Apple Store, Beachwalk remodel, and so many more stores and restaurants to list, simply just walking the streets of Waikiki is a must do activity in itself for tourists and locals alike.  

Tourist having their portrait drawn

On my Sunday stroll through Waikiki I listened a two man band play live music, stared at the "Newspaper man" posing for photos, watched an airbrush artist design a volcano, observed a Japanese tourist having their portrait drawn, saw a girl getting her hair braided, and even eavesdropped on a couple getting their cards read by a psychic.  Kalakaua Avenue was a spectacle! After I got bored of watching all the interesting vendors I did little window shopping.  I checked out the latest Crocs at the Croc store, drooled over the newest purses in the window of the Luitton Vuitton store, and even got to sample the new Ipad at the Apple store.  Who knew that expensive Waikiki could offer such a fun and FREE activity.  I didn't spend a dime in that hour, but had a great time enjoying Waikiki.           

Airbrush artist Tourist having their portrait drawn

Stunning Luxury at Waikiki Landmark #2204 - $695,000

Waikiki Landmark

1888 Kalakaua Ave 2204
Honolulu, HI 96815


Price: $695,000

2 Bedrooms, 2 Bathrooms
1494 Square Ft

Listing # 1003327

Stunning Luxury

 Great Buy! Biggest 2 bedroom/2.5 bath in luxury Waikiki Landmark! Floor to ceiling windows, granite counter tops, premium bathroom finishes! Did we mention the extra hall bath at the large entry! You will love the resort like amenities and location at the gateway to Waikiki! Close to beaches, restaurants, entertainment, shopping and much more. 2 parking stalls + guest parking. Compare & save!

Basic Features:

Acres: 2.546
Region: Metro
City Name: Honolulu
County Name:
Neighborhood: WAIKIKI
Schools: Ala Wai
State: HI
Sub Area:
Subdivision:
Type:
Zip: 96815
Bathrooms: 2
Bedrooms: 2
Partial Baths:
Square Ft: 1494

Additional Features:

Amenities: BBQ,Patio/Deck,Pool,Recreation Room,Resident Manager,Security Guard,Trash Chute,Whirlpool
Building Name: Waikiki Landmark
Building Style: High-Rise 7+ Stories
Floor Covering: Marble/Granite,W/W Carpet
Furnished: P
Interior Living Area: 1324
Land Area: 117115
Maintenance Fee Includes: Hot Water,Water
Monthly Maintenance Fee: 938
Parking Spaces: 2
Parking: Assigned,Covered2,Guest,SecuredEnt
Prop Condition: Excellent
Security: Card,Security Patrol,Video
Property Type: Condo
Unit Features: Central AC,Corner/End,Even# Unit,Single Level
View: City,Mountain,Ocean
Year Built: 1992
Land Tenure: Fee Simple

Please Note:  This is not my listing, however, I can show you this property and others, as well as represent you as a buyer.

For More Information about Waikiki Landmark Condos for sale, including floor plans, map, current listings and more photos, visit our website for featured information at http://www.HNLCondos.com.

Honolulu Condos - Real Estate News & Trends 4/21/10

Aloha!

Welcome to this month's issue of "Honolulu Condos - Real Estate News & Trends", provided by Douglas / Christopher Realtor Associates with RE/MAX Honolulu. This newsletter is published monthly and contains time sensitive information about the Honolulu Real Estate Market. It also combines the weekly newsletter, "Honolulu Condos - Listing Alerts" which includes current new condo listings and distressed property listings.

Don't miss the HOT LINKS at the bottom of this newsletter for such distressed property listings as:

• Condominium: 231 (1.8% UP from last month)
• Single Family: 157 (3.1% DOWN from last month)

Median Sales Price

• Condominium: $298,000 (0.3% DOWN from last
• Single Family: $570,000 (4.6% DOWN from last

Days on Market

• Condominium: 55 days (21 days MORE than last
• Single Family: 38 days (5 days LESS than last month)

Inventory

• Condominium: 1,693 (3.4% INCREASE from last
• Single Family: 1,221 (1.6% INCREASE from last

Visit our Blog and read more about Honolulu Real Estate Market Conditions.

NewCondo Listings

These condo listings are new listings that have come on the market for sale, since last week's newsletter.

ALA MOANA NEW CONDO LISTINGS

DIAMOND HEAD NEW CONDO LISTINGS

DOWNTOWN/CHINATOWN NEW CONDO LISTINGS

KAKAAKO NEW CONDO LISTINGS

KAPIOLANI NEW CONDO LISTINGS

MAKIKI NEW CONDO LISTINGS

WAIKIKI NEW CONDO LISTINGS

Amazing Views at Ilikai Marina #1792 - Reduced to $499,000

Ilikai Marina Condos

1765 Ala Moana Blvd 1792
Honolulu, HI 96815


Price: $499,000

1 Bedrooms, 1 Bathrooms
679 Square Ft

Listing # 1005238

Did I say the views were amazing?  Takie a look at the video below!

 Very nicely maintained, slightly upgraded higher floor unit, with absolutely amazing views of the Ala Wai Yacht Harbor, Magic Island, Ala Moana Beach Park, Pacific Ocean and incredible sunsets. Great location in West Waikiki, near various restaurants and shops. Walking distance to Ala Moana Shopping Center. Currently under private vacation rental. Can be managed by Ilikai Hotel Management.

Basic Features:

Acres: 1.196
Region: Metro
City Name: Honolulu
County Name:
Neighborhood: WAIKIKI
Schools: Ala Wai
State: HI
Sub Area:
Subdivision:
Type:
Zip: 96815
Bathrooms: 1
Bedrooms: 1
Partial Baths:
Square Ft: 679

Additional Features:

Additional Rooms: Open Lanai
Amenities: Community Laundry,Patio/Deck,Pool,Resident Manager,Restaurant,Security Guard,Trash Chute
Building Name: Ilikai Marina
Building Style: High-Rise 7+ Stories
Floor Covering: Ceramic Tile,W/W Carpet
Frontage: Marina,Ocean,Stream/Canal,Waterfront
Furnished: F
Interior Living Area: 651
Land Area: 55025
Maintenance Fee Includes: Cable TV,Electricity,Hot Water,Sewer,Water
Monthly Maintenance Fee: 639
Parking: None,Other,Street
Prop Condition: Excellent
Security: Security Patrol,Video
Property Type: Condo
Unit Features: Bedroom on 1st Level,Even# Unit,Full Bath on 1st Floor,Single Level
View: City,Coastline,Marina/Canal,Ocean,Sunrise,Sunset
Year Built: 1968
Land Tenure: Fee Simple

For More Information about Ilikai Marina Condos for sale, including floor plans, map, current listings and more photos, visit our website for featured information at http://www.HNLCondos.com.

New Waikiki Retail Complex - The Waikiki Shopping Plaza

The Waikiki Shopping Plaza's new five-story, 30,000-square-foot addition will be "move-in" ready later this year and open for business in early 2011.

The space, on the mauka corner of Kalakaua and Royal Hawaiian avenues, previously was a standalone building that was home to a Bank of Hawaii branch. It was demolished last year to build the addition, which will connect to the existing Waikiki Shopping Plaza.

Currently known as 2230 Kalakaua, the addition was designed by Honolulu-based MGA Architecture; Swinerton Builders is the general contractor.

MGA Principal Matt Gilbertson told PBN on a recent tour that the still-under-construction building will be Waikiki's newest gem, combining modern and contemporary design elements with natural and ahupuaa-inspired features.

For example, the building's face along Kalakaua Avenue will have five curtainwall glass panels that resemble waterfalls. Behind them will be drywall-encased steel structures that resemble trees.

"There is not a lot of natural environment when you think of Waikiki, so this is an attempt to go back to nature," Gilbertson said. "While we can't bring back a park, we can inspire it to be a building in what we call urban nature and try to incorporate elements that make you feel like how you do in nature."

Gilbertson's team is seeking LEED silver certification for the project's "core and shell" and is touting features such as green roofs and walls (that help cool the building naturally), bamboo, and so-called regenerative-drive elevators that can recapture or produce their own electricity as they travel between floors.

The building's centerpiece will be the rooftop Bliss Restaurant and Ultralounge, the newest venture from Honolulu developer Leighton Mau, who owns 2230 Kalakaua, Waikiki Shopping Plaza and Waikiki Business Plaza.

Gilbertson declined to disclose the project's cost or details on possible tenants for the addition, which is being built for retail, restaurants and offices.

But national beauty retailer Sephora has leased a ground-floor space at 2230 Kalakaua and expects to open by the end of the year. It will be Sephora's third Hawaii store. The first opened at Ala Moana Center in 1999 with the second at Pearlridge Center in 2007.

Future tenants that do their own buildouts will be asked to consider other sustainable design elements as well, Gilbertson said.

Aloha Friday, Just for Fun: 7th Annual Waikiki SPAM® Jam

On April 24, 2010, visitors to Waikiki will get a big helping of Hawaii's unique culinary tastes when the 8th Annual Waikiki SPAM® Jam returns to the 50th State.

This Saturday, from 4:00 p.m. to 10:00 p.m., the Waikiki SPAM®; Jam will fill Kalakaua Avenue in the heart of Waikiki with one of the largest street festivals in honor of Hawaii's love affair with the lovable luncheon meat.

Do you like SPAM® so much that you'd consider trying it in just about any form? Well, consider SPAM® Katsu, SPAM® Won Ton, SPAM® Pan Lau Lau, SPAM® Ravioli, SPAM® Tacos, SPAM® Poke ... They're dishes worked up by participating restaurants in last year's SPAM Jam®.

2010 Food Offerings

Hawaii's most talented chefs will staff food booths serving unique SPAM® menu items to more than 20,000 SPAM® fans expected to attend this annual event. Food booths and a just one of dishes that each will feature this year include: Atlantis Seafood and Steak (SPAM® Mahi Carbonara), Cheeseburger Beach Walk (SPAM® Babies with Pineapple and BBQ Sauce), Okonomiyaki Chibo Restaurant (Okonomiyaki w/SPAM®), Coconut Willy's (SPAM® Fried Noodles), Doraku Sushi (SPAM® Musubi), Duke's/Hula Grill (SPAM® Fried Rice Loco Moco), Gordon Biersch (Guava Mango BBQ SPAM® Sliders), Jimmy Buffet's (Volcano Nachos w/SPAM® Chili), Rum Fire (Fiesta SPAM® and Crab Dip), Seafood Village (SPAM® Siu Mai), The Shack Waikiki (To be determined).

2010 Live Entertainment

Throughout the night, revelers will enjoy live entertainment on two stages with Hawaiian music accompanied with traditional hula halaus.

At the Hawaiian 105 KINE Stage (fronting the Outrigger Waikiki on the Beach) the performers will be: 4:30 p.m. - Halau Ka Hale O Kahala, 5:30 p.m. - Cyril Pahinui, 6:30 p.m. - Germaine's Luau, 7:30 p.m. - Weldon Kekauoha, and at 8:45 p.m. - Maunaloa.

At the Krater 96 Stage (fronting the Royal Hawaiian Shopping Center) the performers will be: 4:15 p.m. - the USAF Band of the Pacific's Hana Hou, 5:30 p.m. - Emke, 6:45 p.m. - Elephant, and at 8:00 p.m. - Separate Ways

There will also be a variety of craft booths and the always popular SPAM® memorabilia - that includes Spam Jam t-shirts, slippers and cookbooks.

Hawaii Foodbank

Booths will have been set up by volunteers to help collect donations of SPAM® and other food items for the Hawaii Foodbank.

The Hawaii Foodbank is the only nonprofit 501(c)(3) agency in the state of Hawaii that collects, warehouses, and distributes mass quantities of both perishable and non-perishable food to 250 member agencies as well as food banks on the Big Island, Maui, and Kauai. The Hawaii Foodbank forms a vital link between the food donors and its member agencies by providing services in collecting, sorting, salvaging, and distributing food. The Hawaii Foodbank also supports its member agencies through financial and educational assistance. Last year, the Waikiki SPAM® JAM garnered 6,849 pounds of SPAM® for the Hawaii Foodbank. Since 2004, it has donated more than 10,000 pounds of SPAM® to the Hawaii Foodbank.

Sponsors

Sponsors of the 8th Annual Waikiki SPAM Jam® include the following: Outrigger Waikiki on the Beach, Waikiki Beachwalk, This Week Magazines, Hawaii Tourism Authority, Queen Emma Land Co. and Hormel Foods.

Introduced in 1937 by Hormel Foods, more SPAM® is consumed per capita in Hawaii than any other state in the U.S. Almost seven million cans of SPAM® are eaten every year in Hawaii, making the Aloha State the unofficial SPAM® capital of the U.S. SPAM® is manufactured in the U.S. by Hormel Foods Corporation, based in Austin, Minnesota.

Additional information regarding SPAM® is available at spamjamhawaii.com.

Amazing Views at Ilikai Marina Condos #486 for $375,000

Ilikai Marina Condos

1765 Ala Moana Blvd 486
Honolulu, HI 96815


Price: $375,000

1 Bedrooms, 1 Bathrooms

679 Square Ft

Listing # 2910176

Amazing Views!!

STUNNING direct ocean, yacht harbor & Magic Island views. Enjoy Hawaiian sunsets & Friday night fireworks. Totally remodeled in 2006 w/granite counters, maple kitchen & bath cabinets, stainless appliances, patterned tile flooring & custom built in living room cabinets w/Mahogany wood counter top. Walking distance to Waikiki, restaurants & beaches.

Basic Features:

Acres: 1.196
Region: Metro
City Name: Honolulu
County Name:
Neighborhood: WAIKIKI
Schools: Ala Wai
State: HI
Sub Area:
Subdivision:
Type:
Zip: 96815
Bathrooms: 1
Bedrooms: 1
Partial Baths:
Square Ft: 679

Additional Features:

Additional Rooms: Dining Area,Eat In Kitchen/Nook,Open Lanai
Amenities: Community Laundry,Patio/Deck,Resident Manager,Restaurant,Security Guard,Trash Chute
Building Name: Ilikai Marina
Building Style: High-Rise 7+ Stories
Floor Covering: Ceramic Tile
Frontage: Marina,Ocean
Furnished: P
Interior Living Area: 651
Land Area: 55025
Maintenance Fee Includes: AC Central,Cable TV,Electricity,Hot Water,Sewer,Water
Monthly Maintenance Fee: 639
Parking: None
Prop Condition: Above Avg
Remodel Year: 2006
Security: Key,Security Patrol,Video
Property Type: Condo
Unit Features: Central AC,Even# Unit
View: Coastline,Marina/Canal,Ocean,Sunset
Year Built: 1968
Land Tenure: Fee Simple

Please Note:  This is not my listing, however, I can show you this property and others, as well as represent you as a buyer.

For More Information about Ilikai Marina Condos for sale, including floor plans, map, current listings and more photos, visit our website for featured information at http://www.HNLCondos.com.