Honolulu Condos: May 2010

Waikiki Beach Ranks in Top Ten

The Oahu beach named after Olympic swimming legend Duke Kahanamoku has been listed among the top 10 beaches in the nation in an annual survey for 2010.

Duke Kahanamoku Beach in Waikiki, fronting the Hilton Hawaiian Village and Fort DeRussy, entered the list at No. 6, and Hamoa Beach in Hana at No. 9, in this year's selection released by Stephen Leatherman, director of Florida International University's Laboratory for Coastal Research.

The selection is based on a 1-to-5 rating system of 50 criteria, including sand softness, water temperature, wind and rip currents.

Waikiki Improvement Association President Rick Egged said the selection of Duke Kahanamoku Beach puts the spotlight on the importance of maintaining beaches in Hawaii.

"We're very proud of Duke Kahanamoku Beach," Egged said.

Terryl Vencl, executive director of the Maui Visitors Bureau, said she was happy to see Hamoa selected in the top 10, in light of the competition.

"We all know Hana is a special place, and Hamoa Beach is a special place and our visitors and our residents love it," she said.

Last year's No. 1 beach, at Hanalei Bay on Kauai, was not listed in the top 10 since, according to survey rules, selection as the top beach automatically retires it from the list.

Kauai Visitors Bureau Executive Director Sue Kanoho said the news exposure did draw visitors to Hanalei.

"We enjoyed the recognition last year and were happy to see Kauai recognized for its assets," Kanoho said.

The top beach this year came from a state usually associated with urban living: New York.

Coopers Beach on Long Island, with pristine white sand gently sloping toward a shoreline of lapping waves, convenient parking and amenities and nary a gum wrapper in sight, was selected as America's best beach.

Leatherman said the designation as the country's No. 1 beach usually brings as much as a 20 percent bump in tourism.

This year's list includes two beaches in Florida, and Leatherman said he was not worried about pollution from the oil spill affecting those locations. Siesta Beach in Sarasota took the No. 2 spot, and Cape Florida State Park in Key Biscayne was No. 10.

If you are intersted in the Waikiki neighborhood or Condos for Sale in Waikiki, please check out our website at www.HNLCondos.com

 Canadians and the Oahu Real Estate Market

The recent strength in the Canadian dollar has been a catalyst for an increase in real estate sales on Oahu and Honolulu.  As long as the two currencies remain at or near par with each other, we suspect this trend will not only continue but also grow even stronger.

Canadians have had a keen interest in Oahu and Honolulu Real Estate ever since the late 70's when they were involved with the developing of many of the condos on Oahu, Maui and elsewhere.  The Japanese took over in the late 80's, and then U.S. buyers, mostly from the Western United States fueled the last big boom which started in 1997, and peaked in early 2006.

It makes perfect sense now for bargain hunting Canadians to return as their currency has improved dramatically while at the same time prices have fallen here on Oahu.

Of course, you don't have to be Canadian to take advantage of the great deals in our market.  A combination of historically low interest rates, plus a good supply of Short sales and Bank Owned Properties (REO's), has led to one of the great buying opportunities we have seen in the last decade. 

For more information about Oahu real estate and Honolulu condos, plase visit our website at www.HNLCondos.com.

Honolulu Condos and Homes - Listing Alerts 5/26/10

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: *NEWLY ADDED

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

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

DAILY BLOG!! Please take a look at our new Honolulu Condos Blog, where posts are written and published several times a week. You may note or click on the Blog website address, http://blog.hnlcondos .com.

New Honolulu Condo Listings by Neighborhood* for May 26th, 2010

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 Bargain Properties for May 26th, 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 .

ALL LENDER OWNED CONDO LISTINGS

NEW LENDER OWNED CONDO LISTINGS - No New Listings This Week

ALL LENDER OWNED SINGLE FAMILY HOME LISTINGS (METRO HONOLULU)

NEW LENDER OWNED SINGLE FAMILY HOME LISTINGS (METRO HONOLULU)

ALL LENDER OWNED SINGLE FAMILY HOME LISTINGS (ENTIRE ISLAND OF OAHU)

NEW LENDER OWNED SINGLE FAMILY HOME LISTINGS (ENTIRE ISLAND OF OAHU)

ALL FORECLOSURE CONDO LISTINGS

NEW FORECLOSURE CONDO LISTINGS - No New Listings This Week

ALL SHORT SALE CONDO LISTINGS

NEW SHORT SALE CONDO LISTINGS

IMPORTANT NOTE REGARDING SHORT SALES: When a Seller "accepts" an offer on a short sale property, it is not technically accepted until the bank approves the short pay. This can take up to six months or longer. In the meantime, the listing remains "Active" in the MLS, and not as a Pending Sale.

If you are interested in any short sale property, please feel free to call or email, and we'd be happy to check on the offer status of a property.

Honolulu Condos - Beachfront Living- Part 1

In Honolulu, the Diamond Head area, also know as the Gold Coast, offers some of Honolulu's best ocean and beachfront locations in the world.  There are approximately sixteen waterfront condos located on the beach here.  Many units have stunning ocean views.  Please take a look for yourself!

Diamond Head and the Gold Coast

To view detailed information about all beachfront condo buildings in the Diamond Head area, please visit our featured condos page at our website, www.HNLCondos.com.   Visit our Honolulu neighborhoods section to learn more about the Diamond Head neighborhood.

Last Aloha for "Lost": What cast members will miss most about Hawaii

Well, "Lost" is now history, with the last show televised last nght.  Here's a little nostalgia.

Jorge Garcia

You sometimes don't fully appreciate where you live, even in a beautiful place like Hawaii. With the routine and stress of everyday life, you forget how spectacular the place you live in is. What if you were suddenly told that you had only a limited amount of time left in that place?

The cast of ABC's hit show Lost is finding that there isn't much time left on the island, and that there's still plenty more of Hawaii to appreciate and experience before they leave.

In May 2007, midway through its third season, Lost creators Damon Lindelof and Carlton Cuse announced that they would be bringing the Island mystery to a close with only three more seasons, ending in May 2010. They wanted a solid, finite ending for their story instead of letting the show continue indefinitely, and risk losing its quality and viewership. (The final episode of Lost airs May 23.)

While a good move for the integrity of the show, having an official end date for the entire series was a doleful moment for most of the cast.

"I didn't even want to think about leaving Hawaii," said Jorge Garcia, who plays the affable voice of the audience, Hugo "Hurley" Reyes. "I had plans of buying a house in Kailua and making a life here."

When he moved to Oahu in 2004, Jorge welcomed Hawaii and its culture with open arms. He bought books on how to speak pidgin, found ono plate lunch at Kenenke's in Waimanalo, and fell in love with Lanikai Beach and the Mokulua Islands off its shore. He was proud to be a local.

When news of Lost's end date came, Jorge realized that the move back to Los Angeles would be the best decision for his career. "Right now I need to be where the work is," he says. "Hawaii will still be here, and I definitely plan on coming back. There are a lot of things I want to see and do while I'm still here, though, like seeing Lanai and getting out on the surfboard I bought a few years ago. I need to take advantage of the water a little more. It's definitely going to be very hard to leave."

It's easy to see why Jorge and the others will find it hard to leave. The cast has enjoyed working in some of the most beautiful locations on the island, like Papailoa Beach on Oahu's North Shore, where crew members use their lunch breaks to catch a few waves, and Makapuu Point, where the cast pauses between takes to watch whales breaching in the distance.

Josh Holloway

"I still get tears in my eyes driving to certain sets we use," said Josh Holloway, the show's steamy conman, Sawyer. Raised in Georgia, Josh's laid-back, Southern mentality meshed well with the relaxed culture of Hawaii. "There's such a comfort level here. It's rare and very special to me. I've become a part of this place, and it's become a part of me."

If there's one place in Hawaii where Josh found peace, it was out on the open sea. Living along the canals of Hawaii Kai, he was able to walk out of his back door, jump onto his boat (named Moonshine) and head out either to circumnavigate Molokai or just cruise the Hawaii Kai marina with friends at dusk.

During his six years living on the island, he's enjoyed dozens of nautical adventures in heavy and light seas, seen phenomenal sea life and caught many fish.

The heartbreaking reality of leaving Hawaii hit Josh hard early this year when he sold Moonshine. "It was a good point of closure, but I hated to see it go. That boat had become quite a friend of mine. I've never experienced the ocean like I did here."

Michael Emerson

While Josh spent his time in Hawaii mainly at sea, back on land Michael Emerson was enjoying urban Honolulu. A far cry from his cruelly manipulative character, Benjamin Linus, Michael is a charming socialite who has spent the last five years haunting nightspots and galleries in Waikiki.

Emerson moved from New York in 2005 to join the cast during Lost's second season. When he arrived, he set out to experience the nightlife and culture of Honolulu. "I'm out and about quite a bit and I have my little circuit. I enjoy going to the jazz club Dragon Upstairs in Chinatown, and I check in at the Lewers Lounge at the Halekulani every so often."

Michael has lived in a different apartment building in Waikiki each year. He appreciates being able to walk out of his apartment, and within minutes being in local restaurants like Chiba-Ken, a friendly neighborhood sushi bar where he banters with the owner like old friends.

He watches sunsets from the open-air bars of venerable Waikiki Beach hotels and spends his evenings seeking out live music by Hawaii jazz trumpeter DeShannon Higa, or seeing plays at Diamond Head or Manoa Valley Theatres. He has ingeniously created his own comfortable little version of Manhattan in the heart of Honolulu, and he's going to miss it greatly.

Before he leaves the island, Michael has less citylike things he'd like to scratch off his "To Do" list. "I would really like to visit Kauai, and I hope I get to eat chicken long rice again before I go. I also want one last look at the view from the top of Oahu's Mariner's Ridge hiking trail."

Nestor Carbonell

The cast member whose "To Do Before I Go" list is the longest is Nestor Carbonell. Though he has portrayed Richard Alpert, one of the "Others," off and on for three seasons now, he just moved his family to Oahu in August of last year. "We were really excited about living here, even though we knew the adventure would only last 10 months."

Nestor is envious of his castmates who have lived here for years. "There's a lot we want to do before we move back to L.A. It would be a shame, and a bit of an embarrassment, to leave Oahu without having learned how to ride a wave. That's first on the list. And I definitely want to hike Koko Head Crater."

Lost's final season premiered at Sunset on the Beach in Waikiki last January, and it signified the beginning of the end. The ticking of the clock grew louder. It was time for the cast to reflect on their lives here and to appreciate all that Hawaii has given them. It has been an incredible opportunity and experience for them all.

As they find themselves leaving the bliss and warmth of the island and returning to the hustle and bustle of Hollywood, there are two main things they should prepare for: speed limits over 50 miles an hour and reminding themselves that 70 degrees isn't actually "cold."

Military Spending in Hawaii May Be Saving Oahu's Economy

I ran across an ezine article lately that I thought was quite perceptive.  Most people assume that the major factor to a thriving economy in Hawaii is tourism.  Sounds logical, and it's basically true because it is a huge factor.  However, the military presence is less obvious and plays a very, very important role.

According to Mark Bratton, President of Bratton Realty Advisers, Ltd., "The military and federal government combined in our state is holding up the entire economy on the Island of Oahu. Military construction has not receded, it continues. They are in the process of building housing on Oahu, 10,000 homes by Actus and an additional 4,500 homes over the next few years as replacements for military personnel. There are 102,000 people with the military, mostly based on the Island of Oahu. The military has 18,000 direct jobs that we know of and spending approximately $1 billion/year."

Here's a link to the rest of a great ezine article he recently wrote.

Waipuna Condos #1402, 2bd/2ba in West Waikiki for $528,000

Waipuna Condos

469 Ena Rd 1402
Honolulu, HI 96815


Price: $515,000

2 Bedrooms, 2 Bathrooms
1071 Square Ft

Listing # 1004966

Great location in West Waikiki.

Immaculate 2-bdrm 2-bth in a great building. Upgraded with limestone flooring, drywalled ceiling, elaborate crown molding with recessed lighting, newer kitchen and more. Situated at the beginning of Waikiki. Enjoy the Waikiki lifestyle without having to drive through Waikiki to get home. Close to buslines, shopping, parks and beaches. A must see to appreciate.

Basic Features:

Acres: 2.46
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: 1071

Additional Features:

Additional Rooms: Open Lanai
Amenities: BBQ,Exercise Room,Pool,Recreation Area,Resident Manager,Security Guard,Storage,Tennis Court,Trash Chute
Building Name: Waipuna
Building Style: High-Rise 7+ Stories
Floor Covering: Other,W/W Carpet
Furnished: P
Interior Living Area: 948
Land Area: 113152
Maintenance Fee Includes: Cable TV,Sewer,Water
Monthly Maintenance Fee: 435
Parking Spaces: 1
Parking: Assigned,Covered1,Guest
Prop Condition: Excellent
Remodel Year: 2005
Security: Key,Security Patrol
Property Type: Condo
Unit Features: Even# Unit,Single Level
View: City,Sunset
Year Built: 1971
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 Waipuna 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 5/19/10

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:

OliverMcMillan Turns Stalled Condominium, Pacifica (Moana Vista) Into Catalyst for Honolulu

The dozens of people who camped out for two days recognized early-on the tremendous value of the 48-story redesigned Pacifica Honolulu project. OliverMcMillan - a San Diego-based real estate development firm that develops high quality urban mixed-use retail, entertainment and residential projects - announced today that firm contracts are in place for 244 of the 365 available market-rate residential units in the Pacifica Honolulu condominium project, and the $50 million construction loan closed with First Hawaiian Bank. With the presales and financing secured, construction on the $285 million project, the largest new high-rise residential project on Oahu, started April 26 with Ledcor Construction. A ground blessing was held on March 25, 2010.

OliverMcMillan acquired Pacifica Honolulu, formerly known as Moana Vista, in October 2009 from KC Rainbow II. The troubled property, located at 1009 Kapiolani Boulevard, had stopped construction in the fall of 2008 after the developer lost his construction loan and stopped funding the project with his own equity. The 27th floor of the concrete tower had been poured, and the exterior glass and interior finishes were partially underway.

OliverMcMillan thoughtfully redesigned the two-bedroom, 489 unit, limited-amenity project into a contemporary urban project with sophisticated design and amenities including one, two, and three bedroom residences. To date, 221 of the sales contracts have become non-refundable with deposits of 10 percent of the sales price in escrow. In September 2010, 124 additional residences will be offered for public sale to qualified local residents meeting moderate income requirements set forth by the Hawaii Community Development Authority. OliverMcMillan anticipates there will be hundreds of qualified residents hoping for the opportunity to purchase after the applications are released later this summer.

The 48-story, 430,200 square-foot Pacifica Honolulu project is expected to be completed in September 2011, creating more than 400 local construction jobs.

"Where others saw only impossible hurdles, OliverMcMillan saw opportunities," said Don Horner, Chairman and CEO of First Hawaiian Bank. "The firm should be congratulated for transforming a half-built, stalled property into a successful and attractive affordable housing opportunity."

Through strong banking and capital relationships developed over its 32-year history, OliverMcMillan was able to transform Pacifica Honolulu from a troubled property to a unique urban condo project in less than one year. OliverMcMillan's renowned development team includes: First Hawaiian Bank , Architects Hawaii , and Ledcor Construction Hawaii, LLC ., Jules Wilson and PhilPotts interior designers and the exclusive project broker, Heyer & Associates .

"The fact that we had buyers camped out to purchase Pacifica Honolulu units, a once troubled property, is a huge success in this economy," said Dene Oliver, CEO of OliverMcMillan. "The cohesive project team combined with the company goal to pass along the value to prospective buyers, is what created a win for everyone."

"The Pacifica Honolulu project is a value play. Three key components contribute to the success of this sale: good value, a highly desirable location and the fact that this is the low point of development in the cycle," said Ricky Cassiday, Independent Real Estate Market Analyst in Honolulu. "Pacifica Honolulu is one of the few instances of high rises coming on the market. It provides a rare opportunity for affordable housing in the center of Honolulu. Historically speaking, these are reasonable and affordable prices."

"We were very excited when OliverMcMillan came into the picture. They clearly wanted to create a new brand for the project and keep it consistent with their expectation of quality and creative approaches," said David Miller, Chairman and Principal of Architects Hawaii. "The amount of public areas and ambiance of the residence was enhanced tremendously under their direction."

The refined, urban condo building now features substantially upgraded interior finishes and amenities, as well as panoramic views of the ocean, mountain and downtown Honolulu. Additional amenities include:

"We have mobilized and construction has recommenced. OliverMcMillan has put together a very solid team, which is essential on a job like this," said Jeff Thompson, Vice President and Branch Manager for Ledcor Construction Hawaii, LLC.

About OliverMcMillan

OliverMcMillan is a 32-year-old private firm that develops unique, high quality mixed-use retail, entertainment and residential projects, both privately and through public-private partnerships with public entities and redevelopment agencies. While demonstrating sensitivity to the community's unique needs, OliverMcMillan brings creative solutions to the complexities of developing urban and suburban places and destinations. Because of its expertise, strong architectural vision, experience working with communities and public agencies and significant financial and analytical strength, OliverMcMillan creates projects that form a catalyst for economic revitalization, financial return, growth and place making. Looking at the big picture, OliverMcMillan makes long-term commitments to its developments and acquisitions by developing tomorrow's vision today, in a manner that will serve the community well into the future.

You may find further information about Pacifica Condos at our website, www.HNLCondos.com.

Gold Coast Seawall Lawsuit Affects Many Diamond Head Condo Buildings

The top of the 100-year-old masonry wall that separates the Pacific Ocean from more than a dozen residential buildings along Waikiki's Gold Coast at the Diamond Head end of Kalakaua Avenue is crumbling and badly in need of repair.

No one disputes that.

What is disputed is who should pay to repair the wall, which sits mostly on private property but is used by the public, mostly surfers, swimmers and fishermen seeking lateral access to the ocean and a popular surf break called Tonggs.

"All of us who live along there, for all these years, we just assumed it was public because of the heavy public use," said Robert Gentry, who has lived part time on the Gold Coast for 28 years. "We always assumed it, because if it wasn't we wouldn't have permitted the public to walk on it. If the public uses it, the public needs to take care of it."

Read more: State lobs latest volley in seawall lawsuit - Pacific Business News (Honolulu):