Honua Kai - July Update

With a large number of clients who see the inherent value of Honua Kai condos, we keep a watchful eye on the micro-market to better ascertain ensuing trends and spot particularly strong values. With that said, the month of July proved to be another month filled with activity.

New Listings

A total of 4 new listings came on the market in July. 

Hokulani 737 - Studios have been highly sought-after due to their incredibly high rental revenues comparative to their initial investment, but at $780K, it may be difficult to justify.

Hokulani 238 - This 1 bedroom / 1 bathroom unit is on the northern perimeter of Hokulani, enjoying the 'buffer' between the two towers while still having ocean views. Listed at $849K

Hokulani 213 - Same square footage as Hokulani 238 above, with the biggest difference being that 213 is on the inner courtyard, while 238 is on the outside perimeter.

Hokulani 145 - A ground-level 2 bedroom unit in Hokulani is sure to have a high ROI due to its appeal to those who prefer being on the ground level while still having ocean views. Listed for sale, this premium unit is priced at $1.35M

Pending

Of the 5 units currently in escrow, 4 went under contract in July. Two 1 bedroom condos, Hokulani 418 and Konea 544 are in escrow, while joined by two premium 2 bedroom units, Konea 205 and Hokulani 105

Sold

Three sales recorded in July:

Hokulani 532 - A 1 bedroom unit with mountain views, the 620 square foot condo sold for $625K on July 22nd.

Konea 240 - The demand for 1 bed + den continues to rise, which accentuates the tremendous value that this lucky new owner got - sales price of $764,900, selling on July 25th. At $835 per square foot, it is a very strong value for the buyer.

Hokulani 312 - This 2 bedroom / 2 bathroom condo on the southern perimeter of the Hokulani tower sold for $964,900 on July 3rd. It will be interesting to see whether view corridors are compromised when construction next door is complete.

Conclusion

With developer inventory dwindling, it is important to note that resales are on the rise - and anecdotally, many owners are planning to list their properties for sale during high season. As such, it is within reason to expect prices to continue in an upward trend. Thinking of buying - contact us. In addition to the available units for sale, we also have ties with other owners who may be open to selling in oth