Team Hawai'i Real Estate

Selling your home? It's essential to stay engaged and aware of your AOAO (Association of Apartment Owners). The association management company can significantly impact your home's marketability, from insurance coverage to CC inspections, reserves, and assessments. Understanding these factors can make all the difference in a smooth sale process. Ready to take the next step? Let's connect and ensure you're fully prepared to get the most value out of your home. Reach out today!

The O'ahu real estate market continues to follow the trends set earlier in the year: slower sales, more inventory, and stable prices. This shift translates to increased choices for buyers while prices remain steady for sellers. However, if the rise in inventory persists, the market may soften further, potentially leading to more favorable deals for buyers. In September 2024, closed home sales dropped by 6.5% year-over-year and 14.2% from last month, while pending home sales rose 16.8% year-over-year. The median home price nudged up to $1,050,000, showing continued demand despite fewer sales. On the supply side, new listings surged 24.9% from last year, and total inventory climbed by 27.5%, giving buyers more options. Homes sold for 99% of the asking price on average. Condo/Townhome Market: In the condo/townhome segment, closed sales were down 2.7% year-over-year, and the median price dipped to $517,500. Pending sales rose 7.5% year-over-year, but inventory surged by 58%. Buyers in this market paid an average of 97.7% of the asking price, indicating more room for negotiation compared to single-family homes. Despite slower sales, increased inventory and stable prices suggest that buyers may find more opportunities in the coming months.

JUST LISTED | 439 Iaukea Street | Honolulu, HI 96813 Indredible opportunity to build your dream home on Hawaiian Home Lands! This rare offering features a spacious lot with breathtaking views of the coastline, bay, & city skyline. the existing structure is a tear-down, providing a clean slate for you to create a custom home that maximizes these stunning vistas. Entry to the property is prohibited due to the current state of the home. Buyers must be at least 50% Hawaiian & registered on the Department of Hawaiian Home Lands (DHHL) waitlist to qualify. Don't miss your chance to secure a piece of paradise and be part of this special community. Contact DHHL for more information on eligibility & application. To be sold "As Is". Papakolea is a land section in the Ahupua'a of Honolulu, & it means plover flats, referencing the kolea bird or the pacific golden plover. Papakolea homestead is the 8th homestead established by the DHHL in September 1937. Papakolea, Kewalo, & Kalawahine homesteads, collectively called the Papakolea region, is a native Hawaiian community that thrives on the traditions & values set forth by its founding members, & serves as a place of growth & learning for current & future generations. For more information, please visit here: https://lnkd.in/g-4-6Pxy - Team Hawaii Real Estate Reine Ah Moo & Shannon K. Smith R: RB-21168 | S: RB-21159 R: 808.343.4204 | S: 808.225.3736

We are proud to announce that Team Hawaii has been nominated for the 2024 Aloha 'Āina REALTOR® Award! This recognition honors REALTORS who provide exceptional service to their clients while upholding the highest ethical standards. Mahalo to all of our clients, past and present, for trusting us with your real estate journey. We couldn’t have achieved this without your support.

JUST LISTED | Ilikai Hotel & Luxury Suites | 1777 Ala Moana Boulevard, Unit 2307 | Honolulu, HI 96815 Spectacular High-Floor Condo: A Fusion of Luxury and Investment Potential Discover the epitome of elegance and investment opportunity with this stunning high-floor hotel condo, completely renovated to include extensive renovations in 2016 that included all new electrical and plumbing. This exquisitely newly furnished and carpeted unit, featuring upscale appliances, modern fixtures, and designer touches throughout. The kitchen is equipped with stainless steel appliances, ensuring both style & functionality, while the designer bathroom exudes sophistication with granite countertops and tiled showers. Relax and unwind in the spacious living area, complete with a 65-inch flat-screen television and split AC, providing ultimate comfort and convenience for both residents and guests. Indulge in panoramic views of the majestic Koolau Mountains from the expansive 120 sqft lanai where you can sip your morning coffee. Seize the Opportunity and don't miss your chance to own a piece of paradise in one of the most desirable destinations in the world. With its impeccable renovation, prime location, and income-generating potential, this high-floor hotel condo is truly a rare find. For more information, please visit here: https://lnkd.in/geX64wF8 - Team Hawaii Real Estate Reine Ah Moo, Hawaii Realtor | Shannon K. Smith - Hawaii Realtor R: RB-21168 | S: RB-21159 R: 808.343.4204 | S: 808.225.3736

A metaphorical ray of light is beginning to shine through the clouds in the form of lower mortgage interest rates. While there is strong hope that reduced rates will create a floor to the market, market indicators likely won’t reflect market movement for a few months. For example, sales dropped by 5.9% for homes and 5% for condominiums last month compared to the same time last year. From the buyer's point of view, the market is leaning in their direction with increased price negotiation, significantly more properties for sale and more time to make their choice of which to buy. Sellers aren’t completely left out in the cold. Last month, the median sales price for homes increased by 1.1% and condos only corrected downward by 2.9%, even while facing the insurance crisis. Given the price increases over the past 4 years, sellers are likely in a good equity position and if priced at market, will likely receive an offer in less than a month. Properties for sale were on the market for just 14 days for homes last month before accepting an offer, while condominiums lasted 28 days on the market before accepting an offer. Buyers continue to have more choices for both homes and condos as the total inventory of homes for sale increased by 27.1% and condos for sale increased by 64%. Buyers are still refusing to pay the list price as the percent of list price paid for properties that sold last month was 99.5% for homes and 98.3% for condos. The home sales indicators and economic factors show signs that we can expect another shift in the market sooner rather than later. Reach out to us to find out the opportunities which lie ahead for you.

The Once-A-Year Deadline to Update Your Property Tax Exemption and Save Money is coming up on September 30th! Contact us for more information and the form to update your exemption.

Patriots Day is a time for reflection and remembrance. Today we honor the fallen, the survivors, and the first responders who showed incredible bravery on 9/11.

Curious about hidden opportunities in the real estate market? Ask your agent about Coming Soon and Broker Exclusive listings. These properties aren't available online and could be your key to finding the perfect home before anyone else. Contact your agent today to uncover these hidden gems!

Just Sold! A stunning studio at the Palms at Waikiki. Thinking about selling your condo? Let’s connect to discuss how we can make your property stand out in today’s market. Reach out today!