A Daily Shot of News

The Kahala real estate market, an upscale portion of the larger Oahu and Hawaii housing markets, started to stage a strong recovery in the most recent tracking period. According to a June 8, 2010 article from Pacific Business News, “Home sales on Oahu rose considerably in May, while prices for single-family homes and condominiums posted modest gains compared to the same month last year. The median price of a single-family home in May was $606,000, which was a 12 percent boost over May 2009, when the median price was $542,000, according to statistics from the Honolulu Board of Realtors.” The piece went on to say that “That was based on 284 home sales, which was a 31.5 percent increase over 216 sales in May 2009. Condo sales on Oahu soared 35.5 percent in May to 355 units sold, up from 262 units sold in 2009.”

The number of Kahala homes for sale which were actually purchased, along with housing units in the rest of the island, increased substantially in the month of May. According to a June 8, 2010 article in the Hawaii News Now, “Honolulu home sales are picking up, prices are mostly higher, and two other metrics show the strength of the market is growing. In May on Oahu, 284 homes went to closing, about a third more than in May of last year, for a median price of $606,000 that was up $64,0000 from back then.” The piece, written by Howard Dicus, went on to state that “The Honolulu Board of Realtors reported Tuesday that 355 condos went to closing for a median price of $312,500 that was up more than $12,000 from last year at the same time. This continues a trend of some months, but deep detail in the version of the report transmitted to real estate agents themselves showed not two but four factors that point towards economic recovery.”

This good news for Kahala real estate was echoed in a June 8, 2010 article from KITV 4 News, which reported that “The median prices for resold single-family homes and condominiums in May climbed while the number of units sold dipped slightly, according to the Honolulu Board of Realtors.”

On the southeast portion of the island of Oahu flourishes the Hawaii kai residential community with its breathtaking beauty and picturesque sceneries. The place boasts a lush fertile mountain side and a spectacular view of the clear blue ocean.

A home in Hawaii kai is indeed a lovely setting. With heavenly breezes and an excellent climate you will find your mind and body revitalized with abundant energy and will also find plenty of time for outdoor adventure and games. You are sure to enjoy each and every moment of your stay starting from your very first cup of morning coffee to delicious moth watering meals on the wide and deep waterfront lanais.

Due to its closeness to the world famous Hanauma bay, well-known for its vacation activities such as sunbathing and snorkeling, investing in Hawaii kai real estate is an excellent idea. Hawaii kai is also close to a number of other magnificent attractive sites such as Koko Head Crater botanical garden which is in itself a true exemplar of the diverse ecosystem of Hawaii, Sandy beach with its sparkling waters and fine white sand speckles, the Sea life park and many others. Thus for long term vacationers, buying real estate in Hawaii kai is indeed a pleasurable experience. With its growing mortgage industry, a large number of homes, condos, villas and land are available for sale daily and all you need to do is a little research to find a place that best matches your tastes and likes.

With the advent of specially designed websites and travel guides dedicated to Hawaiian property sale and buying; buying real estate in Hawaii kai has never been easier. You will find websites that provide their visitors with loads of information and sometimes even picture to help them better decide the right property they want. Some websites also provide the additional feature of updating their visitors with regular email alerts as the listed property status is updated and made available. From mortgage rates to moving and shifting charges to unbelievable offers and packages and effective negotiations, the Hawaiian real estate market invites buyers to explore its heavenly community and find an accommodation or place of their dreams.

Furthermore, extensively detailed community information can also be found on the World Wide Web while also alerting you of the latest homes and condos available for sale.

In addition, for those who wish to rent a vacation home or property, the ease of online application and booking makes the process far easier. A lot of websites regularly update their listings and provide complete information regarding the rates and facilities provided. Homes, condos and villas that are available for sale are also enlisted and some of the sites also allow the buyer to actually contact the actual authorized property owner. The property may either be privately owned or professionally managed. The direct contacting option enables the buyers or renters to gain maximum authentic information regarding the properties.

What’s more is that you will also find attractively decorated houses with beautiful artworks to further enhance the beauty of your estate thus making Hawaii kai real estate investment as a highly favorable choice.

Although many of the real estate markets in Hawaii are suffering greatly due to the current economic recession, Oahu, especially Honolulu, has been fortunate enough to somewhat avoid the major declines in real estate rates that most markets on the other islands experienced.  Although the value of homes in Honolulu have declined slightly and are expected to decline in the near future, Honolulu real estate market seems to have hit the bottom and begun its recovery.

While many real estate markets on the mainland are already showing signs of consistent recovery and year over year improvement, most of the real estate markets in Hawaii are still declining and have yet to hit bottom according to the Honolulu Star Bulletin.  However, experts are also reporting that Oahu and the Honolulu real estate market is faring much better than neighbor island markets.  Harvey Shapiro, a research economist for the Honolulu Board of Realtors, says that Honolulu has seen a slight decline in home sales, but the Honolulu real estate is picking up.  The University of Hawaii Economic Research Organization is reporting that recovery of the real estate market is near, even though there may be slight declines in the next few months before the market begins to rise again consistently.  Nevertheless, Oahu has still been the most successful.  Although Oahu is home to about 99 percent of Hawaii’s population, only 35 percent of the total number of foreclosures in Hawaii were on Oahu.

The Pacific Business News reports that the rates of decline in Hawaii’s real estate market is beginning to slow, showing signs that the end of the real estate struggle in Hawaii is near its end.  However, they also report that some experts believe that the market will come to somewhat of a stall before it begins to pick up speed and recover hopefully sometime in 2010.  The fact that the number of visitors from Japan only fell 4.1 percent this year rather than 13.8 percent in 2008 shows that Hawaii’s tourist industry may be on the rise again, setting the wheels in motion for the full recovery of Hawaii’s economy and real estate market.