Nick Kawakami

Kapiolani Residence Announces Market Units!

October 9, 2016 By Nick Kawakami

With the successful completion of their affordable release, Korean developer Samkoo has just released the market-priced units for its newest development, the Kapiolani Residence. Located on the makai-side of Kapiolani Blvd, and across the street from 24-hour fitness, the Kapiolani Residence is a 484-unit building geared for people looking for a low-cost, no-frills style of living.

A quick-look at the market pricing shows 1-bedrooms starting at $486,500. Since these are market-priced units (and not a part of the affordable program), buyers only need to qualify under the following specs:

(1) Is a citizen of the United States or a resident alien;
(2) Is at least eighteen years of age;
(3) Is domiciled in the State of Hawaii and will physically reside in the unit to be purchased;
(4) Has a gross income suffcient to qualify for the loan to finance the purchase

If you qualify, and are interested in this project, let me know and I will hook you up with a bunch of information to get you started!

Home sales flatten, but condos still ablaze! 🔥🔥👍

October 6, 2016 By Nick Kawakami

Happy October Everyone, and happy beginning-of-holiday-parties season! It’s crazy to think we are here already, and I hope you are all gearing up for Halloween and other fun things as we close out 2016! The stats for September 2016 are out, and here’s my take on the local market…

Single-family homes saw a stall in growth versus last year, as the number of closed sales remained the same. It’ll be interesting to watch this number as we end the year, and see if the trends continue “normal.” We did see a slight bump in median prices versus last year, but it remains inline with the growth of the overall year. The “outlier stat” for September single-family homes was the days-on-market (DOM), which has remained at 16 days for the third straight month. Usually in September, we start to see a little longer DOM, but not this year!

As for condos, number of sales climbed for the third month in a row and rose 6.7% versus last year. It’s hard to predict where condos will go month-by-month, because their production is so heavily tied to market factors and the products vary so greatly. In fact, median price is down versus last month, while last September saw a bump versus that August. DOM are back up to 20, and look for that to shorten again as less new inventory came on the market.

Like I said, it will be interesting to see how the year will fill out. There some factors that seem to follow market trends, and some that don’t. I’m also going to be watching the election results to see if that has any affect on our little island home as well!

Happy Halloween everyone, and a quick note of love to my friends and family in Florida! Hurricane Matthew sucks, but we are here if you need us!

The Art of Being Creative

October 1, 2016 By Nick Kawakami

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Why Technology Matters

October 1, 2016 By Nick Kawakami

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How Creative Block Affects Us

October 1, 2016 By Nick Kawakami

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Low Inventory Means a Bump in Prices & Faster Sales

September 20, 2016 By Nick Kawakami

Hope everyone is enjoying this beautiful weather, as we end summer and welcome fall, haha! One day it’s pouring rain, the next is sunny and 197% humidity. Meanwhile, the housing market continues its torrential pace in 2016 as inventories continue to be slim and median prices hover around record-highs!

As our Board President Kalama Kim has stated, “During the month of August, the number of homes for sale dropped compared to last year, and it took just 16 days before the homes which sold accepted an offer. There are buyers who have been in the market for over a year because of market conditions, and run the risk of being priced out of the market as demand pushes prices up.” I don’t have any buyers like that (thankfully), but I can personally attest that the competition out there is intense!

In my opinion, the real news is that prices continue to remain high while days-on-market fall. That’s saying that Buyers are paying near what Sellers are asking, regardless of price, and locking properties into contract earlier than ever. This is even more evident when you dive deeper into the stats and see that 38% of home sales, and 27% of condo sales are bid up over asking price (the highest levels in Oahu’s history). These signs mean Buyers must be fully armed when they enter the market and Sellers have plenty of action. If you’re even thinking about buying or selling, let me know and I’d be happy to dive into your specific needs and help you navigate this crazy market!

As the Summer Finishes, Price Strength Continues

August 9, 2016 By Nick Kawakami

Happy August everyone, and as the mainland braces for the coming fall, we continue to see a strong sales market here in Paradise! As expected, the low inventory has restricted the number of sales last month and pushed median prices higher than last year!

While median prices dropped slightly versus our record-breaking June, both Single-Family (SF) homes and condos are up 6% and 14% over July last year. On top of that, both SF homes and condos are seeing close to 100% listing-to-sold pricing, meaning that even though Sellers are pushing prices, Buyers are willing to pay. The inventory trend will probably soften a little, especially as we enter the cooler winter season, but don’t expect to see a shift from this up market anytime soon.