Honolulu Real Estate and Community News Courtesy of Michael Zimmerman (RA) » Hawaiki Tower

December 2011 Honolulu Condominium Market Report: Hawaiki Tower

Michael Zimmerman — Sat, 24 Dec 2011 10:24:41 +0000

Summary
If you’re looking for a specific Hawaiki Tower apartment, you best not delay if one comes to market. Four of the last five apartment sales were done in under 10 days. Maintenance fees are quite low compared to those of surrounding Kakaako condos and the chart below shows that eager buyers have kept the number of apartments for sale to a minimum for the last 18 months. As I write, there are two 1-bedrooms for sale (one low floor and one high floor) and three 2-bedrooms for sale (all below the 16th floor).

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, Hawaiki Tower averaged 1.5 sales per month. At that pace, it will take just over three months to sell the five apartments on the market.

Hawaiki Tower Condominium
88 Piikoi Street, Honolulu, HI 96814
Built: 1999

Apartments currently available:

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

Availability
Apartments in the building: 422
Apartments available for sale: 5
Average days on market to date: 58
Apartments listed for sale in the last 30 days: 2
Months of inventory available: 3.3

Sales
Apartments under contract in escrow: 0
Apartments sold in the last 90 days: 5
Average days on market: 16
Average price per square foot: $853.18
Sales Price / List Price: 100%
Last three sold:
2701 sold on 11/22/11 for $600,000
4004 sold on 11/14/11 for $950,000
2506 sold on 10/26/11 for $890,000

Contact Michael Zimmerman if you have a specific question about Hawaiki Tower. Please visit my web site to conduct your own Honolulu condo search or request special reports for home buyers or sellers.

Contributed by Michael Zimmerman
Direct: 808-457-9683
Michael@Michael-Zimmerman.com
www.Michael-Zimmerman.com
Subscribe to Honolulu Real Estate and Community News

July 2011 Honolulu Condominium Market Report – Hawaiki Tower

Michael Zimmerman — Thu, 28 Jul 2011 10:28:07 +0000

Summary
The chart below helps you understand why there’s very few apartments for sale at Hawaiki Tower. The last four apartments sold in an average of just eight days, so ready buyers have been snapping up homes right after they hit the market. That trend may not hold for the three apartments offered now. One is a 1-bedroom and the other two are large ’09 stack 2-bedroom apartments. The 2-bedrooms are priced at $1,190,000 and $1,525,000, so they may take a little longer to sell.

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, Hawaiki Tower averaged 1.5 sales per month. At that pace, it will take over two months to sell the three apartments on the market.

Hawaiki Tower Condominium
88 Piikoi Street, Honolulu, HI 96814
Built: 1999

Apartments currently available:

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

Availability
Apartments in the building: 422
Apartments available for sale: 3
Average days on market to date: 97
Apartments listed for sale in the last 30 days: 2
Months of inventory available: 1.8

Sales
Apartments under contract in escrow: 1
Apartments sold in the last 90 days: 4
Average days on market: 8
Average price per square foot: $701.80
Sales Price / List Price: 98%
Last three sold:
1110 sold on 6/1/11 for $620,000
904 sold on 5/31/11 for $720,500
4206 sold on 5/6/11 for $980,000

Contributed by Michael Zimmerman
Direct: 808-457-9683
Michael@Michael-Zimmerman.com
www.Michael-Zimmerman.com
Subscribe to Honolulu Real Estate and Community News

January 2011 Honolulu Condominium Market Report – Hawaiki Tower

Michael Zimmerman — Tue, 18 Jan 2011 10:18:27 +0000

Summary
In 2010, a steady procession of Hawaiki Tower apartments came to market and sold fairly quickly. There are very few apartments to choose from as I write, so if you’re a prospective Hawaiki buyer looking for something very specific, I’d have everything ready to go at a moment’s notice. The 2011 maintenance fee increased just 3% and that’s very good when compared to other Kakaako condominium fee increases.

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 remained low through most of 2010.

Hawaiki Tower Condominium
88 Piikoi Street, Honolulu, HI 96814
Built: 1999

Apartments currently available:

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

Availability
Apartments in the building: 422
Apartments available for sale: 3
Average days on market to date: 84
Apartments listed for sale in the last 30 days: 0
Months of inventory available: 2.3

Sales
Apartments under contract in escrow: 1
Apartments sold in the last 90 days: 3
Average days on market: 48
Average price per square foot: $633.67
Sales Price / List Price: 97%
Last three sold: (no Nov or Dec 2010 sales)
PH08 sold on 10/29/10 for $1,350,000
2905 sold on 10/15/10 for $840,000
2411 sold on 10/15/10 for $595,000

Contributed by Michael Zimmerman
Direct: 808-457-9683
Michael@Michael-Zimmerman.com
www.Michael-Zimmerman.com
Subscribe to Honolulu Real Estate and Community News

June 2010 Honolulu Condominium Market Report – Hawaiki Tower

Michael Zimmerman — Wed, 02 Jun 2010 10:02:56 +0000

Summary
The sales trend at Hawaiki Tower is very similar to that of other Kakaako condominiums; a steady number of sales coupled with a corresponding drop in the number of apartments for sale. One thing stands out like no other building; there’s just one Hawaiki Tower apartment for sale, and it’s a penthouse. For the time being, the choices are very limited.

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 fell steadily throughout 2009. Nine Hawaiki Tower apartments sold in the last six months.

Hawaiki Tower Condominium
88 Piikoi Street, Honolulu, HI 96814
Built: 1999

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

Availability
Apartments in the building: 422
Apartments available for sale: 1
Average days on market to date: 17
Apartments listed for sale in the last 30 days: 1
Months of inventory available: 0.7

Sales
Apartments under contract in escrow: 5
Apartments sold in the last 90 days: 7
Average days on market: 58
Average price per square foot: $719.75
Sales Price / List Price: 98%

Contact Michael Zimmerman if you have a specific question about Hawaiki Tower. Please visit my web site to view Hawaiki apartments for sale, conduct your own Honolulu condo search or request special reports for home buyers or sellers.

Contributed by Michael Zimmerman
Direct: 808-457-9683
Michael@Michael-Zimmerman.com
www.Michael-Zimmerman.com
Subscribe to Honolulu Real Estate and Community News

November 2009 Honolulu Condominium Market Report – Hawaiki Tower

Michael Zimmerman — Wed, 25 Nov 2009 10:25:58 +0000

Summary
The sales trend at Hawaiki Tower is very similar to that of other Kakaako condominiums; a rising number of sales coupled with a corresponding drop in the number of apartments for sale. Should this continue, we may return to a seller’s market as buyers have much less inventory to choose from. With just four Hawaiki Tower apartments for sale, the choices are already limited. For example, there are no 1-bedroom and no 3-bedroom apartments for sale. However, the 2-bedrooms apartments available are spread from low floors to high floors and offer Diamond Head or Ewa views. One of these is a highly sought after 2-bedroom ‘09 floor plan with 1400 sq. ft. on the 19th floor.

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. As you can see, the number of apartments for sale dramatically decreased in the last seven months. In the last six months, 10 Hawaiki Tower apartments sold and if that pace continues, it will take just 2.4 months to sell the 4 apartments on the market now.

Hawaiki Tower Condominium
88 Piikoi Street, Honolulu, HI 96814
Built: 1999

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

Availability
Apartments in the building: 422
Apartments available for sale: 4
Average days on market to date: 68
Apartments listed for sale in the last 30 days: 2
Months of inventory available: 2.4

Sales
Apartments under contract in escrow: 1
Apartments sold in the last 90 days: 4
Average days on market: 68
Sales Price / List Price: 93%

Contributed by Michael Zimmerman
Direct: 808-457-9683
Michael@Michael-Zimmerman.com
www.michael-zimmerman.com
Subscribe to Honolulu Real Estate and Community News

July 2009 Hawaiki Tower Condominium Market Report Honolulu

Michael Zimmerman — Fri, 17 Jul 2009 11:17:20 +0000

Summary
Hawaiki Tower qualifies as a “best buy” in Kakaako from a maintenance fee perspective. Please read my 2009 Honolulu Condominium Maintenance Fee Comparison report for more details. The large 2-bedroom ’09 apartments are rarely available, but as I write, two are at your disposal (1809 and 1909). In addition, three 3-bedroom apartments are on the market, but they are fairly expensive. No 1-bedroom apartments for sale, but these offerings run in cycles. The four remaining 2-bedroom apartments for sale are a good mix of floor plans and all are on relatively high floors (28-36), so their views should be excellent.

The chart below shows the number of sales recorded each month vs. the number of apartments available for sale at the end of each month. As you can see, the number of apartments for sale exploded over the past year, but is coming down nicely. In the last six months, Hawaiki Tower averaged two sales every three months and if that pace continues, it will take 13.5 months to sell the 9 apartments currently available.

Hawaiki Listed vs. Sold

Hawaiki Tower Condominium
88 Piikoi Street, Honolulu, HI 96814
Built: 1999

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

Availability
Apartments in the building: 422
Apartments available for sale: 9
Average days on market to date: 98
Apartments listed for sale in the last 30 days: 2
Months of inventory available: 13.5

Sales
Apartments under contract in escrow: 2
Apartments sold in the last 90 days: 5
Average days on market: 96
Sales Price / List Price: 91%

March 2009 Hawaiki Tower Condominium Market Report Honolulu

Michael Zimmerman — Fri, 20 Mar 2009 11:20:43 +0000

Summary
If you’ve been complaining about high maintenance fees in your condo or buildings you’ve been considering, Hawaiki Tower may be just what you’re looking for. As I explained in my 2009 Honolulu Condominium Maintenance Fee Comparison report, Hawaiki has the lowest maintenance fee per square foot of the Kakaako condos I follow.

A wide array of apartments are at your disposal; high floors, low floors, breathtaking ocean views and mauka views all await you. As I write, there are no 1-bedroom apartments for sale, but two 3-bedroom, 2.5-bath condos have been on the market over 200 days. The owners have aggressively reduced their prices, but have yet to attract the right buyers. If you’re interested, please call me at 808-457-9683.

The chart below shows the number of sales recorded each month vs. the number of apartments available for sale at the end of each month. As you can see, the number of apartments for sale exploded over the past year. In the last six months, Hawaiki Tower averaged just one sale every two months and if that pace continues, it will take 28 months to sell the 14 apartments currently available.

Hawaiki Tower Listings vs. Sales

Hawaiki Tower Condominium
88 Piikoi Street, Honolulu, HI 96814
Built: 1999

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

Availability
Apartments in the building: 422
Apartments available for sale: 14
Average days on market to date: 152
Apartments listed for sale in the last 30 days: 0
Months of inventory available: 28

Sales
Apartments under contract in escrow: 0
Apartments sold in the last 90 days: 0
Average days on market: N/A
Sales Price / List Price: N/A

Contact Michael Zimmerman if you have a specific question about Hawaiki Tower. Please visit my web site to view Hawaiki units for sale, conduct your own customized Honolulu home search or request special reports for home buyers or sellers.

October 2008 Hawaiki Tower Condominium Market Report Honolulu

Michael Zimmerman — Sat, 11 Oct 2008 11:11:56 +0000

Summary
Hawaiki Tower has a wide range apartments for sale. High floor, low floor and condos with different views await you. Since I wrote the May Hawaiki Tower Condominium Market Report, the number of apartments for sale has jumped dramatically from 3 to 14! This is great news for buyers who didn’t have much to choose from in the first half of 2008. Once again, there are no 1-bedroom apartments or highly desired, large 2-bedroom ‘09 units for sale. However, there are two 3-bedroom, 2.5-bath homes listed for sale. The 3-bedroom apartments are rarely available, so this is a unique opportunity.

Five Hawaiki apartments were sold in the last six months. Most sold in a reasonable amount of time because they were priced near what the market would bear (what a reasonable buyer is willing to pay). These five condos sold for an average of 96% of their listing price. Now that there are more Hawaiki condos to choose from and people are a bit unnerved by the current credit crunch, it may take a bit longer to sell. Nevertheless, as I explained in my Honolulu Condominium Maintenance Fee Comparison post, Hawaiki Tower has the lowest maintenance fee per square foot of the Kakaako condos I follow. Finally, it offers all the great things I mentioned in my post titled Top 10 Reasons Why You Should Live in Ala Moana.

Hawaiki Tower Condominium
88 Piikoi Street, Honolulu, HI 96814
Built: 1999

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

Features
Conveniently located across the street from the Ala Moana Shopping Center and one block from Ala Moana Beach Park. Just blocks away from the Nordstrom store located on Kapiolani Blvd. The Tropical Smoothie Café is located on the bottom floor of the building facing Waimanu Street.

Availability
Units in the building: 422
Units available for sale: 14
Average days on market to date: 69
Units listed for sale in the last 30 days: 4
Months of inventory available: 16.8

Sales
Units under contract in escrow: 2
Units sold in the last 90 days: 2
Average days on market: 105
Sales Price / List Price: 96%

May 2008 Hawaiki Tower Condominium Market Report Honolulu

Michael Zimmerman — Wed, 21 May 2008 13:21:34 +0000

Summary
Hawaiki Tower still has very few units for sale. When Hawaiki condos are offered, they don’t last too long because there’s been more than enough demand for the meager supply of units. There are no one bedroom units for sale and only three were sold in the last year. None of the highly desired, large two-bedroom ‘09 units are for sale.

The building has seen just 25 sales in the last 12 months. Most of the units have been offered near market prices and sold for an average of 97% of their listing price. Buyers have been purchasing units at the same pace they have beeen offered. Hawaiki is the only building I monitor where the number of units for sale remains at an ultra-healthy level. For more history, please read the March Hawaiki Tower Condominium Market Report.

Hawaiki Tower Condominium
88 Piikoi Street, Honolulu, HI 96814
Built: 1999

Schools
Elementary: Kaahumanu
Middle: Central
High: McKinley

Features
Conveniently located across the street from the Ala Moana Shopping Center and one block from Ala Moana Beach Park. Just blocks away from the new Nordstrom store located at 1519 Kapiolani Boulevard. The Tropical Smoothie Café is located on the bottom floor of the building facing Waimanu Street.

Availability
Units in the building: 422
Units available for sale: 3
Average days on market to date: 56
Units listed for sale in the last 30 days: 1
Months of inventory available: 1.4

Sales
Units under contract in escrow: 1
Units sold in the last 30 days: 2
Average days on market: 33
Sales Price / List Price: 98%

March 2008 Hawaiki Tower Condominium Market Report Honolulu

Michael Zimmerman — Sat, 08 Mar 2008 19:55:47 +0000

Hawaiki Tower Condominium

88 Piikoi Street, Honolulu, HI 96814
Built: 1999

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

Feature
Conveniently located across the street from the Ala Moana Shopping Center and just blocks away from the new Nordstrom store located at 1519 Kapiolani Boulevard.

Summary
For the last four months, the number of units offered for sale at Hawaiki has been quite small. Three to five units at any one time has been the norm. The average days on market remained low because there’s been more than enough demand for the meager supply of units.

There were only 24 sales in the last 12 months, due in part to so few units being offered for sale. I am very happy to report that most of the units have been offered at reasonable prices and sold, on average, for 97% of their listing price. Buyers recognize this and have quickly stepped in to purchase units priced fairly. Hawaiki is one of few buildings I monitor where the inventory of units for sale hasn’t ballooned to an unhealthy level. The large two-bedroom ’09 units are highly desired and usually sell rather quickly due to their limited supply and unique floor plans. Even in this building, buyers have little tolerance for improper pricing.

Availability
Units in the building: 422
Units available for sale: 4
Average days on market to date: 27
Units listed for sale in the last 30 days: 2
Months of inventory available: 2.0

Sales
Units under contract in escrow: 3
Units sold in the last 30 days: 1
Average days on market: 28