Moana Pacific Condominium
1288-1296 Kapiolani Blvd., Honolulu, HI 96814
Built: 2007
Elementary School: Kaahumanu
Middle School: Central
High School: McKinley
Feature
Co-located with the Honolulu Design Center, Stage Restaurant and Amuse Wine Bar.
Summary
Moana Pacific re-sales have been robust since the building opened a year ago (10% of original owners have sold their unit), but the pace is slowing to a healthier level. The developer is slowly selling a few units held in its inventory. In addition, a large number of units have recently come on the market as owners reached the required one year holding period.
Here’s a quick breakdown of 73 unit resales from April 2007 to February 2008:
East Tower – 33
West Tower – 40
’01 units – 10
’02 and ’09 units – 14
’03 and ’08 units – 14
’04 and ’07 units – 16
’05 and ’06 units – 19
It comes as no surprise, several units are listed significantly above market price. It’s no wonder 9 units have been on the market greater than 100 days. Over pricing leads to a large supply and there isn’t enough buyer demand, so the units remain on market much longer. At the current sales rate, it will take 6.6 months to sell all units currently listed for sale. Improper pricing forced some owners to wait well over 200 days for a sale.
Availability
Units in the building: 760
Units available for sale: 33
Average days on market to date: 75
Units listed for sale in the last 30 days: 11
Months of inventory available: 6.6
Sales
Units under contract in escrow: 9
Units sold in the last 30 days: 6
Average days on market: 76
What else would you like to know about Moana Pacific? Please visit my web site to view Moana Pacific units for sale or conduct your own Honolulu home search. If you’re thinking of selling your home and don’t want to wait six months for a sale, contact Michael Zimmerman for a no obligation consultation.
