Summary
The sales pace at Hokua slowed since my last report.  At the current sales rate, it would take over 11 months to sell all units offered for sale and that assumes sellers move their asking price closer to the price buyers are willing to pay.  11 of 15 units for sale have been on and off the market for more than 90 days (three units have been on the market more than 300 days).  Several owners have shaved hundreds of thousands of dollars off their price and they may have to do more to attract a buyer.  The single unit sold in the last 30 days went for just 71% of its list price.  This is a clear indication of overpricing.  Specific sales statistics are below.

Hokua at 1288 Ala Moana Condominium
1288 Ala Moana Blvd., Honolulu, HI 96814
Built:  2006

Schools
Elementary:  Kaahumanu
Middle:  Central
High:  McKinley

Location
Conveniently located one block from Ward Centers and the Whole Foods Market currently under construction.  Just a few blocks from the Ala Moana Shopping Center and the new Nordstrom store located at 1519 Kapiolani Blvd.

Features
P.F. Chang’s China Bistro, Starbucks and the Tango restaurant are all located on the bottom floor. 

Availability
Units in the building:  246
Units available for sale:  15
Average days on market to date:  137
Units listed for sale in the last 30 days:  4
Months of inventory available:  11.3

Sales
Units under contract in escrow:  2
Units sold in the last 30 days:  1
Average days on market:  212
Sales Price / List Price:  71.3%

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 units for sale or conduct your own Honolulu home search.

Nauru Tower Condominium

1330 Ala Moana Blvd., Honolulu, HI 96814
Built: 1991

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

Feature
Conveniently located across the street from the Ala Moana Beach Park and just one block west of the Ala Moana Shopping Center.

Summary
Of the 11 units available for sale, three have been on the market over 300 days (two of those three have been on and off the market dating back to mid 2006) and two units have been available for over 200 days.  Why aren’t these units selling?  It’s not location.  It’s not condition as all are advertised to be in excellent condition.  So that leaves price.  It appears there are quite a few owners who may not be all that serious about selling their home.  At some point, one or more of these units may present a great opportunity for a patient buyer.

There are very few three bedroom units available in Nauru Tower, but one is available as of March 12.  This unit combines the two bedroom unit 3301 and one bedroom unit 3302.  It even has a bonus room that can be used as a fourth bedroom or a den.  This unit isn’t for everyone, but presents a unique opportunity for someone looking to reshape the unit to their liking.

Availability
Units in the building:  302
Units available for sale:  11
Average days on market to date:  167
Units listed for sale in the last 30 days:  2
Months of inventory available:  6.6

Sales
Units under contract in escrow:  2
Units sold in the last 30 days:  3
Average days on market:  153

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