Summary
What a difference a few months make! Not a single Hokua apartment sold since my March 2009 Market Report. While there are two apartments in escrow, the last Hokua sale recorded on February 25.
The weak economy has affected Hokua sales, but it’s more than the economy. The average list price is nearly $2.4 million, so the pool of people willing and able to purchase is limited. Moreover, several of the apartments are overpriced. Some are a little high while others are grossly overpriced. 10 of 19 Hokua apartments have been on the market over 100 days and that’s never a good sign.
Hokua Listings vs. Sales
The chart above shows the number of sales recorded each month vs. the number of apartments available for sale at the end of each month. The number of apartments for sale fluctuated quite a bit in 2009. In the last six months, Hokua averaged just one sale every two months. If that pace continues, it will take 38 months to sell the 19 apartments available. Specific sales statistics are listed below.
Hokua at 1288 Ala Moana Condominium
1288 Ala Moana Blvd., Honolulu, HI 96814
Built: 2006
Schools
Elementary School: Kaahumanu
Middle School: Central
High School: McKinley
Location
Conveniently located one block from Ward Centers and just a few blocks from the Ala Moana Shopping Center and Nordstrom located on Kapiolani Blvd.
Features
P.F. Chang’s China Bistro and the Tango Contemporary Café are located on the bottom floor.
Availability
Apartments in the building: 246
Apartments available for sale: 19
Average days on market to date: 130
Apartments listed for sale in the last 30 days: 3
Months of inventory available: 38.0
Sales
Apartments under contract in escrow: 2
Apartments sold in the last 90 days: 0
Average days on market: N/A
Sales Price / List Price: N/A
Do you have questions about Hokua at 1288 Ala Moana? If so, contact Michael Zimmerman for a no obligation consultation. Please visit my web site to view Hokua apartments for sale or conduct your own Honolulu home search.
