Nick Kawakami

Condominiums play an important role in the Hawai‘i housing market, especially on O‘ahu where condos make up a significant portion of available housing and are typically starting points for the homeownership ladder. Recent changes announced by Fannie Mae and Freddie Mac could affect how some condominium purchases are financed and may also influence how condominium associations plan for the future.

What Condo Buyers and Owners Should Know About New Underwriting Guidelines

These most notable change will affect the rules lenders use when deciding whether a condominium is eligible for certain types of home loans. Lenders will now be required to do full reviews of condos, eliminating the limited review process that fast-tracked some loans previously. The updates come after several years of increased attention on condo financing, especially following the 2021 Surfside condominium collapse in Florida. In response, Fannie Mae and Freddie Mac adopted stricter standards related to building maintenance, reserve funds, engineering inspections, and insurance coverage.

The latest changes take a more balanced approach. Some smaller condominium projects may have an easier time qualifying for financing, while larger condominium associations may need to maintain larger reserve funds and provide additional documentation to remain eligible for conventional loans.

Easier Financing for Some Small Condo Projects

New and existing projects with 10 or fewer units may now qualify for a waiver of project review in certain circumstances. This could simplify the financing process for certain boutique condominium communities and may reduce some of the hurdles that buyers and lenders previously faced. Unfortunately, these kinds of projects are not super common on the island.

Higher Reserve Funding Requirements Ahead

While some rules are becoming more flexible, others are becoming more stringent. For condominium associations undergoing a full project review, required reserve contributions for capital expenditures and deferred maintenance will increase from 10% to 15% of the annual budget beginning in 2027.

Reserve funds are important because they help associations pay for major future expenses such as roof replacement, elevator modernization, plumbing upgrades, and exterior repairs. The new requirements are intended to promote stronger long-term financial health and reduce the risk of deferred maintenance. For some associations, however, meeting these requirements may result in increased maintenance fees or special planning efforts over the coming years.

Greater Reliance on Reserve Studies

Another important change involves reserve studies. If a condominium association uses a reserve study rather than the standard Fannie Mae or Freddie Mac reserve benchmarks, lenders must now use the highest reserve funding recommendation contained in that study. This places greater importance on keeping reserve studies current and ensuring associations have a realistic plan for future capital needs.

Insurance Requirements Are Changing Too

The guidelines also lightly address ongoing challenges in the insurance market. One significant update allows roofs to be insured on an actual cash value (ACV) basis rather than requiring full replacement-cost coverage in every circumstance. This rule tries to ease rising insurance premiums and coverage ability concerns that have affected the industry.

The Bottom Line

The latest changes from Fannie Mae and Freddie Mac appear designed to strike a balance between maintaining access to financing and encouraging stronger financial planning within condominium communities. Smaller projects may benefit from streamlined review requirements, while larger associations will likely face increased expectations related to reserves and documentation.

For buyers, sellers, and condominium associations in Hawai‘i, understanding these changes will become increasingly important as lenders implement the new guidelines. As always, reviewing association documents and conducting thorough due diligence remains one of the most important steps when purchasing a condominium.

If you’d like to talk story about these changes and see how it will affect you, reach out and let me know!

Source: National Association of REALTORS®, “Changes in Condominium Underwriting Guidelines,” March 23, 2026. [nar.realtor]

March always feels like a transition month here on Oahu. We start to move past winter weather, daylight stretches a little longer, and buyer activity typically begins to pick up heading into spring. This year, March brought some interesting shifts in the market that are worth paying attention to, especially if you are planning a move later in 2026.

Here is a clear snapshot of what happened last month.

March 2026 Market Highlights

• Single-family home sales jumped 26% year over year, with 260 homes sold compared to 206 last March. This shows renewed confidence from buyers, even with higher interest rates.
• Condo sales dipped slightly by about 5%, totaling 351 sales. Condos are still moving, just at a slower pace than single-family homes.
• Median single-family home price rose to $1,199,500, up 3.4% from last year. Prices are rising modestly rather than surging.
• Median condo price increased to $510,000, a 2% year-over-year gain, keeping condos relatively stable and accessible for many buyers.
• Homes are taking a bit longer to sell, with single-family homes averaging 21 days on market and condos averaging 43 days. Buyers have more breathing room than we saw during the frenzy years.
• Inventory remains tight for single-family homes, down more than 10% from last year, while condo inventory stayed nearly flat.
• Multiple offers are still happening, with 26% of single-family homes selling above asking price and sellers receiving about 98.6% of their list price on average.

What These Numbers Mean Right Now

For buyers, the market feels more balanced than it did a couple of years ago. Homes are still selling relatively quickly, but not overnight. Condos in particular are offering a bit more choice and negotiating room, which can be appealing in areas like Kaka‘ako, Salt Lake, and parts of Pearl City.

For sellers, well-priced and well-prepared homes are still moving. Single-family homes in neighborhoods such as Kapolei, Kailua, and Mililani continue to see strong demand. While bidding wars are not guaranteed like they once were, serious buyers are still out there, especially for properties under $1 million and well-located homes above that range.

From a broader market perspective, what stands out is stability. Prices are holding, activity is healthy, and supply is not flooding the market. This kind of environment often rewards thoughtful strategy rather than rushing decisions.

Looking Ahead

As we move further into spring and toward the summer buying season, I will be watching inventory closely. If new listings stay limited, that could support prices through the middle of the year. At the same time, higher mortgage rates and maintenance fees in condos continue to shape buyer behavior here on O‘ahu.

If you are thinking about buying, selling, or just want to understand how these trends impact your specific neighborhood, I am always happy to walk through the numbers with you.

Want to talk about what this means for your real estate plans? Feel free to reach out.
Happy House Hunting!

February always feels like a transition month here in Hawai‘i. The holiday slowdown is firmly behind us, spring break travel is picking up, and buyers and sellers are starting to re‑engage with the market. This year, the numbers tell a familiar but important story: “the O‘ahu market remains steady, competitive in certain price ranges, and very neighborhood‑specific.

Here’s a clear breakdown of what happened in February and what it means if you’re thinking about making a move this year.

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Key February Market Stats (With Context)

• Single-family home sales increased 6% year-over-year, with 177 homes sold.
  This tells us high buyer demand is still there, especially for well-priced homes.
• Condo sales were essentially flat, down just 0.7% compared to last February.
  Condos are taking a bit longer to move, giving buyers more breathing room.
• Median single-family home price: $1,205,000, up 1.7% year-over-year.
  Prices aren’t skyrocketing, they’re rising gradually, which is a healthy sign.
• Median condo price: $500,000, up 1.2% year-over-year.
  Condos remain one of the most accessible entry points into the O‘ahu market.
• Single-family homes spent a median of just 17 days on market, down from 23 days last year.
  Homes are still moving quickly, especially under $1M in areas like Ewa, Waipahu, and parts of Central O‘ahu.
• Condos spent 56 days on market, up from 48 days last year.
  This is where buyers may find more negotiating power.
• Single-family inventory dropped 7.6% year-over-year, while condo inventory rose 5.4%.
  Two very different markets depending on what you’re shopping for.
• 25% of single-family homes sold above asking price, compared to 10% of condos.
  Competition is still real, but selective.

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What This Means for Buyers

If you’re shopping for a single-family home, preparation is key. Homes that are priced right and located in high-demand neighborhoods are still selling fast (sometimes with multiple offers). Having financing lined up and being ready to act matters.

For condo buyers, this market is quietly improving your position. More inventory and longer days on market mean you may have room to negotiate especially in the $300,000–$600,000 range, which still represents the bulk of activity.

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What This Means for Sellers

Single-family sellers continue to benefit from tight inventory, particularly under $1 million. If your home is well-presented and priced realistically, buyer interest is still VERY strong.

Condo sellers should expect a more thoughtful market. Pricing and presentation matter more than ever, and buyers are comparing options closely. Strategic pricing, not chasing last year’s peak, is the difference between selling and sitting.

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My Take on the Bigger Picture

This isn’t a market of extremes. We’re seeing balance! Buyers are active, sellers are realistic, and prices are moving gradually instead of dramatically. That’s often when the smartest decisions get made.

As we move into spring, I expect steady activity — especially as families plan around school calendars and mainland buyers start looking ahead to summer moves.

Another tax year will be in the books and another reason to celebrate Earth Day in 2026! 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 18, 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 Realty building parking lot behind Servco Toyota)
• Collection time between 9:00 am – 12:00 pm on Saturday, 4/18
• 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!

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!

Summer doesn’t officially start until later in the year — but on May 2, we’re getting a head start!

Take It Easy is a summer kickoff concert benefiting the Hawaii Comedy Festival, bringing together live music, improv comedy, and a great cause for one relaxed night at HB Social Club.

Set against a fun, comedy vibe and hosted at one of Honolulu’s most iconic live music venues, Take It Easy is all about easing into summer the right way: with rock‑and‑roll roots, good laughs, and a cold drink in hand.

🎶 Live Music with a Classic Feel

The evening features Alx Kawakami and the MarXmen, delivering a sound inspired by classic rock and folk legends (think Eagles, James Taylor, and Crosby, Stills & Nash) while mixing in some great dance classics to jam to! It’s music meant to be enjoyed live: energetic, exciting, and perfect for a night spent unwinding with friends.

🎤 A One‑of‑a‑Kind Musical Improv Set

Adding a unique twist to the night, Take It Easy will also feature a special set by Improv Hawaii’s Musical Improv Group. Known for their quick wit and spontaneous creativity, the group creates fully improvised songs and scenes inspired by audience suggestions, all made up on the spot. The result is a blend of comedy and music that’s unpredictable, smart, and perfectly in the spirit of the Hawaii Comedy Festival. It’s a rare chance to experience live musical improv in an intimate concert setting, and a reminder that some of the best moments of the night are the ones you can’t plan.

🎭 Supporting the Hawaii Comedy Festival

This concert isn’t just about the music — it’s also a benefit for the Hawaii Comedy Festival, an organization dedicated to bringing top‑tier comedy, improv, and creative performance to Hawaiʻi. Proceeds from the event help support the festival’s mission and future programming, strengthening the local arts and entertainment community.

🍹 The Details

• What: Take It Easy — A Summer Kickoff Concert
• When: Saturday, May 2, 2026. Doors open at 6:00 PM, concert starts at 7:00 PM.
• Where: HB Social Club (1680 Kapiolani Blvd, Honolulu, HI 96814 – 2nd Floor)
• Who: Alx Kawakami and the MarXmen, Improv Hawaii Musical Improv
• Why: To sing, dance, and have fun supporting the Hawaii Comedy Festival
• Tickets: Tickets are free but you must register here beforehand. No walk-ins at the door.
• Seating: Limited open table seating will be available (first-come, first-serve)
• Food: No food service provided at the event, so eat beforehand!
• Age Restriction: This is a 21+ event. Bars open all night!

Thank You!

The Hawaii Comedy Festival and Improv Hawaii have been an integral part of my creative journey for over a decade. Whether supporting the Festival or playing with my improv friends at shows with Improv Hawaii, this holds a very special place in my heart!

Whether you’re a longtime supporter of the arts, a fan of live music, or just looking for a great night out as summer approaches, Take It Easy is the perfect excuse to mark your calendar.

Come raise a glass, enjoy the music, and help kick off summer, just a little early.

January always feels like a reset here in Hawai‘i—a chance to take a breath after the holidays and see what kind of momentum the new year brings. This year, the O‘ahu housing market kicked things off with stability, steady pricing, and some early signs of renewed buyer activity, especially on the single-family side.

Here’s a clear look at what happened in January and what it means for buyers and sellers moving forward.

[Read more…] about January 2026 O‘ahu Real Estate Update: A Steady Start to the New Year

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!

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!

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!