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

November 2011 Honolulu Condominium Market Report: Koolani

Michael Zimmerman — Wed, 16 Nov 2011 10:16:40 +0000

Summary
Since the June 2011 market report, Koolani completed installation of copper water piping (replaces PEX) in all 370 apartments. This is a significant milestone for the community and the number of sales and slightly higher sales prices reflect that. There is a nice variety to choose from in the 14 apartments for sale and penthouse 10, in my opinion, has a great floor plan and wonderful Diamond Head/ocean views. While sales prices have gone up, I would also say that some apartments for sale are priced high.

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, Koolani averaged just over two sales per month. At that pace, it will take six months to sell the 14 apartments on the market.

Koolani 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: 14
Average days on market to date: 87
Apartments listed for sale in the last 30 days: 5
Months of inventory available: 6.0

Sales
Apartments under contract in escrow: 1
Apartments sold in the last 90 days: 6
Average days on market: 114
Average price per square foot: $741.47
Sales Price / List Price: 97%
Last three sold:
2707 sold on 9/30/11 for $787,000
1706 sold on 9/30/11 for $777,000
2106 sold on 9/30/11 for $745,680

Would you like to learn more about Koolani? 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.

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 2011 Honolulu Condominium Market Report: Koolani

Michael Zimmerman — Tue, 14 Jun 2011 10:14:09 +0000

Summary
Since my last report, the Ko’olani Association of Apartment Owners concluded arbitration with the building developer, Crescent Heights. The settlement ordered by the arbitrator is complex, but is progressing. Meanwhile, copper water piping is being installed (replaces PEX) in nearly every apartment as I write and that process should be complete by the end of September. There are 15 apartments for sale and two of those are penthouses. By the way, penthouse 10 has a really nice floor plan and great Diamond Head views! In my opinion, most of the apartments for sale are slightly to grossly overpriced.

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 under two sales per month. At that pace, it will take over 11 months to sell the 15 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: 15
Average days on market to date: 79
Apartments listed for sale in the last 30 days: 3
Months of inventory available: 11.3

Sales
Apartments under contract in escrow: 5
Apartments sold in the last 90 days: 4
Average days on market: 25
Average price per square foot: $732.20
Sales Price / List Price: 98%
Last three sold:
4208 sold on 4/27/11 for $1.300,000
1405 sold on 3/18/11 for $720,000
1705 sold on 3/16/11 for $718,000

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.

November 2010 Honolulu Condominium Market Report: Koolani

Michael Zimmerman — Thu, 04 Nov 2010 10:04:27 +0000

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.

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

March 2010 Honolulu Condominium Market Report: Koolani

Michael Zimmerman — Wed, 10 Mar 2010 10:10:47 +0000

Summary
Ko’olani sales trends have been so good that in many cases, buyer choices are quite limited. Sales are consistent and the number of apartments for sale continues its decline that began in mid-2008. Certain floor plans are not available as I write and not much is available on higher floors. Some apartments are priced above what the market will bear and their time on the market confirms that observation. Buyers should stand ready to act when something they’re looking for comes on the market.

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 just over 2 sales per month. At that pace, it will take just over 6 months to sell the 11 apartments on the market.

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

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: 11
Average days on market to date: 91
Apartments listed for sale in the last 30 days: 4
Months of inventory available: 6.0

Sales
Apartments under contract in escrow: 3
Apartments sold in the last 90 days: 6
Average days on market: 91
Average price per square foot: $648.11
Sales Price / List Price: 95%

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

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

October 2009 Honolulu Condominium Market Report: Koolani

Michael Zimmerman — Wed, 07 Oct 2009 11:07:31 +0000

Summary
The number of recent sales and apartments currently for sale at Ko’olani is very, very encouraging. I am very optimistic by these sales dynamics. Look at the graph below and you’ll notice that two very positive trends continue: sales are solid the number of apartments for sale is still falling.

Given that the number of apartments on the market has decreased to its lowest level in three years, not all floor plans are available as I write. For example, if someone is looking for a 3-bedroom ’09 apartment, none are for sale. In addition, a few other floor plans are not available on higher floors, so buyers should be patient, but be ready to act when something comes on the market.

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 2.33 sales per month. At that pace, it will take just over 5 months to sell the 12 apartments on the market. When the building has less than 6 months of inventory, that indicates this particular condo’s market is strong.

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

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. The Ward Center Whole Foods–right next to Ko’olani– is now scheduled to open in late 2010.

Availability
Apartments in the building: 370
Apartments available for sale: 12
Average days on market to date: 90
Apartments listed for sale in the last 30 days: 2
Months of inventory available: 5.1

Sales
Apartments under contract in escrow: 3
Apartments sold in the last 90 days: 6
Average days on market: 110
Sales Price / List Price: 93%

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

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 2009 Koolani Condominium Market Report Honolulu

Michael Zimmerman — Mon, 08 Jun 2009 11:08:47 +0000

Summary
I am very encouraged by the recent sales taking place at Ko’olani. Take a look at the graph below and you’ll see two very positive things: inventory is falling while sales have been very solid. In fact, the number of Ko’olani sales has exceeded sales in all other Kakaako condos. Ko’olani had more sales than Moana Pacific, yet Moana Pacific has nearly twice as many apartments as Ko’olani has (720 vs. 370).

There is a wide variety or apartments for sale Ko’olani. Every floor plan is available, so buyers who are eager to move to all that Kakaako has to offer should strongly consider making Ko’olani their new home. If you are looking for a delightfully large 2-bedroom apartment on a lower floor, please contact me to arrange an appointment to visit apartment 708.

Ko'olani Apartments Listed vs. Sold

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 3 sales each month. At that pace, it will take just over 7 months to sell the 22 apartments listed for sale.

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

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

Location
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: 22
Average days on market to date: 103
Apartments listed for sale in the last 30 days: 4
Months of inventory available: 7.3

Sales
Apartments under contract in escrow: 1
Apartments sold in the last 90 days: 11
Average days on market: 108
Sales Price / List Price: 96%

Would you like to learn more about Ko’olani? If so, contact Michael Zimmerman, the condominium expert. Please visit my web site to view Ko’olani apartments for sale or conduct your own Honolulu home search.

February 2009 Koolani Condominium Market Report Honolulu

Michael Zimmerman — Fri, 06 Feb 2009 11:06:06 +0000

Summary
Ko’olani sales were sporadic throughout 2008, while the inventory available for sale began the year at 16 and finished much higher at 27. 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, Ko’olani averaged 1.5 sales per month and if that pace continues, it will take 18 months to sell the 27 homes available for sale as I write.

Ko'olani Listings vs. Sales

12 homes have been on the market over 100 days, indicating their price is not appropriate for today’s market. On the other hand, there are a few apartments with very attractive prices. Buyers looking to move into a new luxury condo should take a close look at Ko’olani. Specific sales statistics are below.

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

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

Location
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: 27
Average days on market to date: 109
Apartments listed for sale in the last 30 days: 5
Months of inventory available: 18.0

Sales
Apartments under contract in escrow: 2
Apartments sold in the last 90 days: 6
Average days on market: 120
Sales Price / List Price: 91%

Serene Garden View in Honolulu: Large Koolani Two Bedroom Condo For Sale

Michael Zimmerman — Sun, 25 Jan 2009 11:25:49 +0000

Michael Zimmerman just listed apartment 708 in the Ko’olani Condominium for sale.

The home has large bright rooms throughout with floor to ceiling glass. Take pleasure in a serene garden view from your spacious, elegant living and dining rooms.

Ko'olani #708 Living Area

Ko'olani #708 Garden View

This is the largest 2 bedroom, 2 bath floor plan at Ko’olani. Living area is approximately 1518 square feet. The master bedroom is large and open and has a delightful view of the ocean. The second bedroom is also quite large and features a built-in office.

Ko'olani #708 Master Bedroom

Ko'olani #708 Office

This home’s many upgrades include laminate floors, remote controlled window shades, closet organizers and additional storage cabinets. The gourmet kitchen features stainless steel Viking appliances and granite counters. Two covered, side by side parking spaces are assigned to this apartment as well.

Ko'olani #708 Kitchen

Own this residence, and you will live at the center of countless shopping choices, restaurants, the arts and music. It’s a wonderful place to live and enjoy life. Superb amenities include pool, whirlpool, billiard room, 2 tennis courts, movie theater for 18 guests, business center, putting green, party room, conference room and dog park.

Ko'olani #708 Pool

The Ko’olani Condominium
1177 Queen Street #708
Honolulu, HI 96814
MLS #2901175

Please contact Michael Zimmerman if you have a specific question or visit my Featured Properties web page to learn more about this fine home.

This information is provided as a courtesy only, is not a warranty and should be independently investigated by buyers. This information is deemed reliable, but NOT guaranteed.

A Spectacular View of Honolulu: High Floor Koolani Condo Just Sold

Michael Zimmerman — Fri, 19 Sep 2008 19:13:55 +0000

Michael Zimmerman just sold the Ko’olani condominium with this breathtaking view. It was the first high floor two bedroom sale in nearly two months. Ko’olani is conveniently located, just minutes away from Ala Moana Shopping Center, Ala Moana Beach Park, Ward Centers, Downtown and Waikiki.

Ko’olani Condominium, 1177 Queen Street #4207
Sold for $915,000 Fee Simple

Ko’olani is one of Honolulu’s newest luxury condos. The building’s superb amenities include fitness center, saltwater pool, whirlpool, billiard room, tennis courts, movie theater for 18 guests, business center, putting green, party room, concierge, conference room and a dog park. The sold apartment’s highlights included:

Panoramic Pacific Ocean Views
Large bright rooms throughout
2 bedrooms & 2 baths
Living area approximately 1108 square feet
Open lanai approximately 49 square feet
2 covered, assigned, parking stalls
Gourmet kitchen with with Viking appliances and granite counters
Luxurious bath to match the lovely master bedroom

Looking for your very own high floor condo with a spectacular view? Contact Michael Zimmerman or visit my web site to perform your own specific Honolulu home search.

August 2008 Koolani Condominium Market Report Honolulu

Michael Zimmerman — Mon, 04 Aug 2008 17:00:43 +0000

Summary
Ko’olani sales slowed in the second quarter, but were relatively strong when compared with other condo building sales in the Kakaako market. Just six units sold in the second quarter of 2008 vs. 12 sales in the first quarter. The sales were completed, mainly because the homes were priced right. The inventory of units for sale rose dramatically in the second quarter from 23 to 33. 33 units represent a full 11 months of sales. Ten homes have been on the market over 100 days, indicating they carry a price buyers are not willing to pay. The last three condos sold at an average of 99% of their list price. Specific sales statistics are below.

Address: 1177 Queen Street, Honolulu, HI 96814
Built: 2006

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

Location
Conveniently located one block from the Ala Moana Shopping Center and the Whole Foods Market currently under construction. Just a few blocks from Ward Centers and the Nordstrom store located on Kapiolani Blvd.

Availability
Units in the building: 370
Units available for sale: 33
Average days on market to date: 86
Units listed for sale in the last 30 days: 5
Months of inventory available: 11.0

Sales
Units under contract in escrow: 0
Units sold in the last 30 days: 3
Average days on market: 87
Sales Price / List Price: 99%

Would you like to learn more? Please visit my web site to view Ko’olani units for sale, contact Michael Zimmerman for a no obligation consultation or conduct your own Honolulu home search.