Nick Kawakami

Real Estate Service Powered by Innovation

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Oʻahu Real Estate Update: November Brings Mixed Signals as the Holidays Approach

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Aloha friends! As we settle into the holiday season and look forward to cooler evenings and festive gatherings, it’s a great time to check in on how the Oʻahu real estate market is shaping up. November’s numbers show a blend of opportunity and caution—so let’s dive into what’s happening across our island neighborhoods.

Key Takeaways

  • Single-family home sales jumped 18.7% compared to last November, with 241 homes sold. This is a strong sign of buyer interest, especially in the mid- and high-end price ranges.
  • Median price for single-family homes dipped slightly to $1,100,000 (down 1.3% year-over-year), but the year-to-date median is up 3.8%—showing overall price stability.
  • Condo sales fell 7.3% to 316 units, and the median price dropped 8% to $487,450. Most activity was in the more affordable $100,000–$399,999 range.
  • Homes are taking longer to sell: Median days on market rose to 27 for single-family homes and 40 for condos.
  • Inventory is shifting: Active single-family listings dropped 3.3%, while condo inventory rose 11.5%, especially in Central Oʻahu and Waipahu.
  • Pending sales are up: Single-family homes (+12.4%) and condos (+3.7%) both saw more properties under contract, hinting at steady buyer demand.

How you feel depends on where you are

The market is showing its seasonal rhythm—single-family homes are seeing a burst of activity, especially in the $800,000–$899,999 and $2 million-plus ranges. This could be a sign that buyers are feeling confident heading into the new year, perhaps motivated by stabilizing interest rates and the desire to settle before 2026. On the condo side, affordability is driving sales, but higher-priced units are seeing less movement, which is pulling down the median price.

For sellers, competitive pricing and presentation remain key, especially as homes are spending more time on the market. Buyers have more choices in the condo market, but single-family inventory is tightening, especially in popular neighborhoods like Central Oʻahu and Waipahu.

You can call on me

Whether you’re thinking about making a move or just curious about what these trends mean for your neighborhood, I’m here to help. Want to talk about what this means for your real estate plans? Feel free to reach out—I’d love to connect and chat about your options!

15th Annual Toy Drive & Kick-Off Concert Announced

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With the holiday season gearing up, I’m happy to announce that my family and I will be hosting our 15th annual toy drive and kick-off concert again this year! The festivities start with a concert featuring my Dad & Brother at the HB Social Club at Hawaiian Brians, and continues with a month-long toy drive to benefit the Laulima Giving Program.

We started this toy drive with the intent to help local families and, to date, we’ve donated thousands of new toys and tens of thousands of dollars. It’s been a huge privilege and humbling experience to see so many of our friends and family support this cause with us each year!

Kick-Off Concert Details

To start the toy drive and kick-off the Christmas season, MānoaDNA will be performing live and tickets are available now!

  • Date: Saturday, November 29th, 2025
  • Location: HB Social Club at Hawaiian Brians (1680 Kapiolani Blvd, 2nd Floor)
  • Time: 6:00 PM-9:00 PM
  • Tickets: Click here to buy tickets ($18.65/each)
  • Virtual Viewing: Link to be provided before the concert

We will also be collecting toys at the concert, so please bring new, unused, and unwrapped donations with you!

Nick & Alex at the 2013 “Boys & Their Toys” drive and concert at Gordon Biersch.

More Ways to Donate Toys!

The concert is not the only way we are collecting toys! If you can’t make it to the concert, you can still help Hawai‘i families by donating new and unwrapped toy donations to my office at Marcus Realty through December 17th. Please drop off during business hours (8:30 AM-5:30 PM Monday-Friday), and do not leave any donations outside if the office is closed. The Laulima Giving Project will come to pick up all the donations and make sure they get into the right hands!

If you are going to be dropping off a toy to my office this way, please call/text me to let me know! I am not personally there during all business hours, but our staff is ready to help if I am not.

Thank You!

On behalf of my family, we’re super grateful that you’re taking the time to help this great cause! We’ve been really fortunate to have great Christmases growing up, so we really work hard to give that to other families as well! Your donations go directly to the Laulima Giving Project and make a HUGE difference during the holidays! Thank you for being a part of it, and happy holidays!

When Bigger Isn’t Better: Why the Compass–Anywhere Merger Could Hurt Consumers

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The Big News

This week, Compass announced a $10 billion acquisition of Anywhere Real Estate (the parent company of Coldwell Banker, Century 21, Sotheby’s International Realty, and more). On paper, this creates a mega-brokerage that combines over 300,000 agents and captures nearly 18% of the U.S. market share.

That’s not just big—it’s industry-changing. But here’s the problem: bigger isn’t always better.

Why Isn’t This All Good News?

1. Consolidation Isn’t Innovation
When companies can no longer grow through fresh ideas, better service, or real breakthroughs, they often turn to consolidation as a survival strategy. A merger of this size isn’t about innovation—it’s about combining balance sheets, eliminating competition, and holding onto market share. But here’s the opportunity: while the giants are distracted trying to merge systems, cultures, and brands, smaller brokerages can step forward. Local firms that are nimble, creative, and genuinely connected to their communities can offer the kind of service and innovation that big-box brokerages often lose in the shuffle.

2. Dual Agency Conflicts Rise
Our industry thrives on separation. Buyers and sellers both deserve unbiased representation. With so many agents under one umbrella, dual agency—or variations of it—will become more common. That’s a built-in conflict of interest.

3. Price Fixing Becomes A Real Risk
One dominant brokerage with nearly a fifth of the market can quietly set standards for commissions, listing practices, and fees. Even without explicit collusion, the market could start to move in lockstep.

4. NAR Gets Weaker
The National Association of Realtors relies on diversity of membership. When a single brokerage consolidates too much power, NAR’s balance—and its ability to protect consumers—starts to erode.

Agents Are Not Numbers

In many industries, consolidation means scale: more factories, more trucks, more distribution centers. Bigger can sometimes mean more efficient. But real estate doesn’t work that way.

Agents are not commodities. Adding more under one roof does not automatically translate to a better experience for the consumer. Each client wants representation that is personal, responsive, and tailored—not just “coverage” from a vast network.

This merger will create a company with hundreds of thousands of agents, but bigger isn’t necessarily better. In fact, the challenge of managing so many professionals across so many brands could slow innovation, dilute service, and create bureaucracy. On top of that, Compass is taking on enormous debt with this acquisition. Instead of investing in better tools, training, or client services, much of their energy will be spent paying off that debt and trying to integrate massive operations.

For consumers, that means less focus on service—and more risk that the industry tilts toward volume over value.

The Data Problem: “Data Is the New Oil”

There’s a saying in tech: “data is the new oil.” And in real estate, it’s absolutely true. Whoever controls the data—on pricing trends, buyer activity, market timing—controls the narrative.

When one mega-brokerage sits on top of most of that data, transparency disappears. Will consumers see every option available to them? Or will listings be prioritized internally, pocket deals flourish, and critical info get filtered before it ever reaches the public?

The Bottom Line

The Compass–Anywhere merger may make sense for shareholders, but Main Street should be concerned. Consumers have a right to have unbiased representation.

  • Less independence means fewer choices for buyers and sellers.
  • Less competition leads to less innovation.
  • More consolidation means more conflicts of interest in representation.
  • Weaker consumer protections overall.

Real estate works best when there are multiple players at the table—not one mega-brokerage controlling the game.

Bigger isn’t better when it comes to representation. Consumers deserve choice, transparency, and agents who can negotiate without divided loyalties.

Where Are Mortgage Rates Going?

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I apologize in advance, because the title is clickbait. If I could predict where mortgage rates were going, I wouldn’t be telling you and I would be writing this blogpost from my megayacht. However, there was an interesting article in Politico (Inflation jumps as Trump, Powell confront weakening labor market) that addressed the factors going into the economy for the final quarter of 2025, and I think it helps explain why interest and mortgage rates haven’t been as predictable as usual.

Top 3 Takeaways:

  • Prices are going up because new tariffs are making imported goods more expensive.
  • The Fed isn’t sure whether to cut interest rates yet – inflation is still high, but jobs are slowing.
  • The president is pressuring the Fed to lower rates, adding political tension to the decision.

The Commerce Department’s latest consumer‑price index shows prices rising faster than expected, with core inflation edging higher despite the overall slowdown in hiring. Analysts trace much of the uptick to the administration’s new tariffs, which have added hundreds of billions of dollars in costs for manufacturers that rely on imported components. Companies are now deciding how much of those extra expenses to absorb versus passing on to shoppers; a calculation that is still unfolding.

Fed Chair Jerome Powell’s recent remarks at the Jackson Hole symposium underscore the dilemma. On the one hand, the Fed remains wary of tightening monetary policy too early, fearing that a premature rate cut could reignite inflation that has not yet fully receded from the pandemic‑era spike. On the other, the “downside risks to employment are rising,” and a softer jobs market would normally justify easing borrowing costs. Powell hinted that the upcoming September FOMC meeting could be the moment the Fed signals a modest rate reduction—provided the data supports it.

Political pressure adds another layer of complexity. President Trump has repeatedly urged the Fed to lower rates, even launching investigations into Powell’s oversight of a costly Fed‑headquarters renovation and attempting to remove Governor Lisa Cook. While the administration’s tariff agenda fuels price pressures, it also makes any aggressive rate‑cut move politically attractive, especially ahead of the 2026 midterms when voters remain highly sensitive to rising living costs.

In short, the Fed stands at a crossroads: balance the inflationary drag from tariffs against a cooling labor market, all while navigating heightened political scrutiny. Not an easy job.

June 2025 Real Estate Market Recap & Opinion

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The June 2025 real estate stats just came out and here’s a quick recap of the things you need to know.

A Boost in Summer Activity

Oʻahu’s housing market held steady in June, with some positive momentum in both the single-family and condo markets. While prices remain relatively flat year-over-year, there are clear signals that buyer activity is still present—especially in the single-family home segment. According to the Honolulu Board of REALTORS®, single-family home sales rose 12% compared to June 2024, and condo sales edged up by just under 1%. These numbers offer some encouragement as the market adapts to higher inventory levels and longer time on market.

More Homes, More Sales: A Healthy Sign

The most notable stat this month? The number of closed sales for single-family homes continues to rise—even as active inventory also climbs. In June, we saw 289 single-family homes close escrow, up from 258 in the same month last year. At the same time, active inventory jumped from 653 to 861—a 32% increase. That combination tells a compelling story: buyers now have more options and they’re acting on them. The market isn’t stalling under the weight of new listings; instead, it’s absorbing them. This balance of rising supply and increased buyer activity is rare and reflects growing consumer confidence in today’s market conditions.

Single-Family Market Stays Competitive

When we look at prices, the median for single-family homes came in at $1,125,000, up just slightly from $1,120,000 a year ago. The modest increase suggests that sellers are being realistic, even as competition improves. In fact, 35% of June’s closed sales came in under $1 million—a lower share compared to the first half of the year, but still indicative of opportunity for budget-conscious buyers. Meanwhile, median days on market lengthened a bit, now sitting at 24 days (compared to 15 in June 2024), meaning buyers have a little more breathing room to make decisions.

Condo Market Softens, but Buyers Remain Active

On the condo side, the picture is a bit more nuanced. The median price declined 3.8%, from $530,000 to $510,000, and inventory rose significantly—up 47% year-over-year to 2,542 active units. With that much supply, it’s no surprise that condos are sitting on the market longer. Median days on market grew to 40 (from 26 last year), and nearly 42% of active listings in June had experienced a price adjustment. Buyers here have leverage, and many are taking their time. That said, activity is still happening, especially in the $100,000 to $699,999 range, which saw an 11% boost in sales. Certain neighborhoods like Hawaii Kai, Waipahu, and Ewa Plain even saw pending sales jump dramatically, showing that well-priced listings in desirable areas still move quickly.

A Balanced Market in a Shifting Landscape

From a broader perspective, this month’s data reflects national trends as well—where many markets are seeing stable or slightly rising home prices, more listings, and longer selling timelines. But what’s unique to Hawai‘i is how resilient buyer demand remains, especially for single-family homes. Even with more inventory hitting the market, the appetite to buy hasn’t waned. That’s a good sign for both sides of the table: buyers are getting more choice, and sellers are still closing deals at strong values.

Looking Ahead

As we head into the second half of the year, all eyes will be on how mortgage rates and economic confidence continue to shape the housing market. For now, though, June shows us that Oʻahu’s real estate market is alive and well—just moving at a more thoughtful, balanced pace.

Want to talk about what this means for your real estate plans? Feel free to reach out. Whether you’re buying, selling, or just keeping an eye on the market, I’m here to help you make sense of it all.

Happy House Hunting,
Nick

Hurricane season is here!

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Are you prepared?

Don’t wait for the hurricane alerts! Follow these precautions now to ensure the safety of your family and home!

While some natural disasters are infrequent (like tornadoes), Hawaii is geographically positioned to be high-risk for Pacific hurricanes. From June 1st to November 30th, our risk becomes even greater as we enter “hurricane season.” And even though NOAA is predicting a less-active hurricane season, it’s still very important to make sure you are prepared if a storm should hit. Below are some guidelines and resources you can use to get yourself ready this year!

[Read more…] about Hurricane season is here!

Spring Maintenance Checklist

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5 Key Tasks to Tackle This Season

As we transition out of the wetter winter months, it’s a great time to give your home some much-needed attention. These five maintenance tasks can help you prevent bigger problems down the line and keep your property looking and functioning its best. Whether you plan to DIY or hire a pro, these spring cleaning items are worth checking off your list, especially as we come into the summer months in the islands!

✅ 1. Clear Roof & Clean Out Gutters

If you haven’t had your roof inspected in the last couple of years, or you’ve noticed signs of wear after high winds this winter, now’s the time to act. A professional roofing contractor can spot issues before they turn into leaks or water damage. And don’t forget the gutters—clogged gutters can lead to overflow and erosion around your foundation. While you’re at it, take a look at nearby trees or shrubs. If they’re brushing up against the roof or siding, trimming them back can prevent damage and make future maintenance easier.

✅ 2. Test & Repair Irrigation Systems

Water is one of our most precious resources here in the islands. After our rainy months, it’s common for irrigation systems to have broken sprinkler heads or leaks that waste water and increase your bill. Run your system zone by zone and inspect for overspray, pooling, or missed areas. Adjust timers and settings for spring/summer conditions, and consider switching to drip irrigation in planting beds for better efficiency. You can also have a professional plumber come in to check your meter and make sure you’re not wasting any water anywhere on your property!

✅ 3. A/C System Inspection & Cleaning

Don’t wait for the first heat wave to find out your A/C isn’t cooling efficiently. A spring tune-up helps your system run more effectively and can extend its lifespan. Cleaning or replacing filters, checking refrigerant levels, and making sure your ducts are sealed are all important steps. Bonus: a well-maintained system uses less energy, saving you money on your utility bill during the hot summer months.

✅ 4. Dryer & Vent Cleaning

Lint buildup in dryer vents isn’t just a performance issue—it’s a safety hazard. The U.S. Fire Administration reports thousands of house fires each year caused by dryers. A professional vent cleaning can remove debris from the entire length of the duct, ensuring proper airflow and reducing drying time. This is also a good time to clean behind your dryer and vacuum out any hidden lint or dust.

✅ 5. Pressure Wash Lanais, Driveways, and Walkways

All that winter rain can leave behind mildew, algae, and general grime, especially in shaded or high-traffic areas. A good pressure wash can instantly refresh your outdoor spaces and help prevent slippery surfaces. If you don’t have a pressure washer, many local vendors can handle this in an afternoon—and the results can be very satisfying!

Need help getting any of these tasks done?

I’d be happy to recommend trusted local vendors who can get the job done right. Just reach out—I’ve got a great list!

– Nick

ANNUAL SHRED DAY ANNOUNCED FOR 2025

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Another tax year will be in the books and another reason to celebrate Earth Day in 2025! Bring your unwanted items down to our office to be securely destroyed and recycled for free!

Shred-It trucks will be at our office parking lot on Saturday, April 19, starting at 9:00 am with their document shredding truck.  This is a free event, sponsored by my brokerage & Fairway Mortgage, so bring as much stuff to shred as you’d like!

Quick Details

  • Location: 1045 Mapunapuna St. (Marcus & Associates building parking lot behind Servco Toyota)
  • Collection time between 9:00 am – 12:30 am on Saturday 4/19/2024
  • Paper only, since it will be recycled after shredding
  • Staples, small paperclips, and manila folders are fine
  • Plastics (i.e sheet protectors, binding combs), electronic media storage (i.e. CDs, thumb drives), and binder clips need to be REMOVED beforehand
  • Boxes will NOT be shredded, so please take those back home and blue bin those
  • Garbage bags will also NOT be shredded and dumped unless you want them back
  • Bring as much as you want!
  • Fine Time Shave Ice will also be on-hand delivering delicious treats to visitors!

Fine Time Shave Ice!

Who doesn’t like FREE shave ice too!? Thanks again to Marcus Realty and Fairway Mortgage for providing shave ice to all those who attend!

Hope to see you there!

Volunteers will be on hand all morning collecting your shredding items for the truck. Hope to see you all there, and thank you for supporting our event!