November 2010 Honolulu Condominium Market Report: Koolani

Summary
As I review the 10 Ko’olani apartments listed for sale, there is not much diversity for buyers to choose from.  This isn’t only true at Ko’olani, but also at many other high rise buildings in Kakaako.  Ko’olani’s sales have been very consistent all year long, so in some respects, the successful sales are partly to blame for the limited choices potential buyers face today.  Here’s what is available:  three large 2-bedroom ’08 apartments, three 3-bedroom ’01 apartments and a few lower floor 2-bedroom apartments.  If you are seriously looking for a particular type of apartment not listed for sale at Ko’olani today, I recommend you be ready to act on a moment’s notice.  Chances are, other competitive buyers will be looking for the same opportunities as you are.

The chart above shows the number of sales recorded each month vs. the number of apartments available for sale at the end of the month.  In the last six months, Ko’olani averaged two sales per month.  At that pace, it will take five months to sell the 10 apartments on the market.

Ko’olani Condominium
1177 Queen Street, Honolulu, HI 96814
Built:  2006

Apartments currently available

Schools
Elementary School:  Kaahumanu
Middle School:  Central
High School:  McKinley

Features
Conveniently located one block from the Ala Moana Shopping Center and just a few blocks from Ward Centers and the Nordstrom store located on Kapiolani Blvd.

Availability
Apartments in the building:  370
Apartments available for sale:  10
Average days on market to date:  97
Apartments listed for sale in the last 30 days:  0
Months of inventory available:  5.0

Sales
Apartments under contract in escrow:  3
Apartments sold in the last 90 days:  6
Average days on market:  85
Average price per square foot:  $722.58
Sales Price / List Price:  97%

Would you like to learn more about Ko’olani?  If so, contact Michael Zimmerman, the condominium expert.  Please visit my web site to request special reports or search for other Honolulu condos for sale.