Summary
If you’re a buyer in the market for a virtually new condominium, Moana Pacific has a lot to offer. Kakaako has so much going for it because of its proximity to shopping, relaxation, entertainment and restaurants. As you can see in the chart below, the inventory of apartments reached its high point in the middle of the year, but ended just slightly higher than where it began. Frankly, I’m surprised the inventory isn’t higher given only two apartment sales in the last three months.
The chart below depicts the number of sales recorded each month vs. the number of apartments available for sale at the end of each month. In the last six months, Moana Pacific averaged about 3 sales per month and if that pace continues, it will take over 11 months to sell the 33 homes currently available.
Moana Pacific Listings vs. Sales
12 Moana Pacific apartments have been on the market over 100 days and that forces me to question how serious those owners are about selling their home or investment property. One of the two condos that sold recently and two of the three in escrow right now set aggressive prices or repositioned themselves in the market on a regular basis until they found the market price, i.e. what rational buyers are willing to pay. There still are some attractively priced apartments available. Specific sales statistics are listed below.
Moana Pacific Condominium
1288-1296 Kapiolani Blvd., Honolulu, HI 96814
Built: 2007
Schools
Elementary School: Kaahumanu
Middle School: Central
High School: McKinley
Location
Conveniently located a few blocks from the Ala Moana Shopping Center and the Nordstrom store located on Kapiolani Blvd.
Feature
Co-located with the Honolulu Design Center, Stage Restaurant and Amuse Wine Bar.
Availability
Apartments in the building: 720
Apartments available for sale: 33
Average days on market to date: 92
Apartments listed for sale in the last 30 days: 6
Months of inventory available: 11.6
Sales
Apartments under contract in escrow: 3
Apartments sold in the last 90 days: 2
Average days on market: 67
Sales Price / List Price: 98%
What else would you like to know about sales activity at Moana Pacific? Please visit my web site to view Moana Pacific apartments 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.
