Just beyond Waikiki at the base of Diamond Head is  Honolulu's "Gold Coast". The Gold Coast is the last strip of buildings at the end of Kalakaua Ave. across from Kapiolani Park. Unlike the "hustle & bustle" of Waikiki, the Gold Coast is a little more quiet. The buildings consist of:

1. A few hotels such as The New Otani, The Diamond Head Beach Hotel (individually owned as condos) and The Lotus at Diamond Head (formerly a "W" hotel)
2. Private Clubs such as the Elk's Club and the Outrigger Canoe Club
3. The best oceanfront condos and co-ops on Oahu, the majority of which are now Fee Simple outside of San Souci, The Diamond Head Beach Hotel and a few units in 3003 Kalakaua Ave which are Leasehold.

Right out the front doors of these building offer great swimming, diving and surfing breaks such as Tongg's, Rice Bowls, Old Man's and several others. You've also got Kapiolani Park on the Mauka (mountain side) as I mentioned which is a great spot for outdoor activities and the finish line for the Honolulu Marathon, the Tinman Triathlon, etc. What's also great is the Gold Coast is within walking distance of the Honolulu Zoo, Waikiki Aquarium, and the Waikiki Shell which offers great concerts and entertainment.

If you think the Honolulu's Gold Coast is something that interests you, listings in MLS fall under the Diamond Head neighborhood and start around $100,000 for a leasehold condo at the Diamond Head Beach Hotel and go up to $4.9 million for a unit (entire 6th floor) at 3019 Kalakaua Ave. My grandmother's old penthouse unit at the Diamond Head Apartments sold for $4.5 million a few years ago, which is the highest sale to date. There have however been some other large sales this summer I previously posted about.

We've currently got a listing at the Diamond Head Ambassador priced at $595,000 Fee Simple, which is a 2 bed, 1 bath and priced $265,000 less than the previous owner paid in 2005, which is a great buy! If this or anything else on the Gold Coast interests you, give me a call to live your Hawaii Life on the slopes of Diamond Head.

It was less than a week ago that  I posted about a development on the west side not going through. Well, the state just approved Kamehameha Schools 29 acre development proposal in Kakaako. Unlike the displacement of farmlands in the Ewa Beach scenario, this is a "re-development" of an area that has traditionally been "industrial" in the corridor between Waikiki and Downtown Honolulu. Kakaako is already the home to several luxury condos such as Hokua, Nauru & Hawaiki Towers, Koolani, Keola Lai and other newer projects like Moana Pacific, 909 Kapiolani, The Vanguard Lofts and Moana Vista (being built). It also boasts the two largest shopping complexes in the state of Hawaii with Ala Moana Shopping Center and Victoria Ward Centers, both owned by General Growth. There's also great outdoor activites available at Ala Moana Beach Park & boating activities at Kewalo Basin. In addition to Kamehameha School's approval to add up to 2,750 more residences in high rises, townhomes & lofts, they plan to add a 25,000 sq. foot plaza on Auahi St. and a 400,000 sq. foot Asia Pacific Research Center for biotech companies. General Growth also got approval earlier this year for a master plan that proposed up to 4,000 more residences.

What does this all mean? More traffic? More congestion? I think, ultimately it will be great place as it is already.  Kakaako is vibrant and has a lot to offer. The skyline and traffic will be changing. Maybe not overnight, due to the economy. When you're looking to buy in the area, be sure to work with a good Realtor that's up to date on things. There are several buildings such as 909 Kapiolani & Imperial Plaza that come to mind where this could effect their views for resale values... Other than that, Kakaako ultimately won't simply be a transition from Downtown to Waikiki.  It will seamlessly blend in.

This past Friday, the State Land Use Commission voted against DR Horton's proposal to build 12,000 new homes on the Ewa plain between Waipahu and Kapolei. The project, named Ho'opili would be the largest project since Mililani in central Oahu by Castle and Cooke, which just completed last year after 40 years of development. It's also said to be similar size in scale to Hawaii Kai in east Oahu. There are two arguments to the development:

1. Pros: It would be great for the island in that it would tie in to the Mayor's proposed rail project and spur the economy with job creation & keep or lower housing costs
2. Cons: The proposed area would displace one of Oahu's largest farming areas.  This is a section that is zoned Agriculture and is vital to Oahu farmers.  There has been a lot of buzz lately about "sustainability" building these 12,000 home would kill that idea, create more traffic & cause property values to plunge even more for current owners...

Both are valid arguments.  There is obviously a need for more affordable housing, yet what price do we pay? This saga is not over in that DR Horton can petition again once they get their ducks lined up in how they will go about the development in phases.  They argued that over the 20 year span of the development, the farmers will "gradually" be displaced.  Only time will tell..

I am very excited to have joined Hawaii Life Real Estate Services as their 1st agent on Oahu. They are the premier real estate website for Hawaii Real Estate. 86% of homebuyers now start their home search online. Check out www.hawaiilife.com or www.hawaiihomelistings.com to live your Hawaii Life!

Although this spring started off slow, the Diamond Head market is pickup up heat this summer! Not only have listings that were sitting for awhile selling, they are commanding several million dollars from buyers from the East Coast, Japan & Europe.  Here's some recent sales:

• May 27th, 2009 - 3003 Kalakaua Ave. #9B Sold for $3,000,000
• June 26th, 2009 - Coral Strand PH2 Sold for $2,625,000
• June 30th, 2009 - 3207 Noela St. Sold for $5,375,000
• July 15th, 2009 - 3763 Diamond Head Rd. Sold for $3,850,000
• July 23rd, 2009 - 3019 Kalakaua Ave. #5 Sold for $3,400,000
• In addition, 3239 Noela St. is in escrow with an asking price of  $9,400,000!

If you're looking for something special in Diamond Head, there are still a number of great properties for sale.  I live and own in Diamond Head. It's a great place to live your Hawaii Life!

Last year, a law was passed that required all buildings 50 years or older to undergo a special procedure (ie. document & submit photos to the State Historic Preservation Division) for any work that was to be done to a structure or demolished.   This Act 228 caused a major backlog in the state and they did not have the personnel to handle such volume.  Getting building permits in Hawaii have never a simple step & this law just added more red tape... Although the law may have had good intent, there are many, many homes in Hawaii that are over 50 years old.  I just looked back at my last 10 single family home transactions & 7 of the 10 were over 50 years old! The Hawaii Association of Realtors spoke out as well as many in the building industry against the law.  Recently, Governor Lingle repealed it and now homeowners can get back to fulfilling their goals of remodeling their dream homes :)

For those of you that don't know, Maunawili is the first neighborhood you come to after going over the Pali to Kailua. What's great about it, is you're minutes from the pristine white beaches of Kailua, yet also minutes away from Downtown Honolulu. Many doctors, attorneys & business professionals choose to reside here due to its close proximity to town. It's also just about a 20 minute drive to some of the best private schools in town. Or, if you don't want the commute, Le Jardin Academy is right there. Other attractions are gorgeous Mount Olomana and the lush greenery of the Windward side of Oahu.

Maunawili has also been a hot real estate market as of late. Although there's only been 4 sales in the past 6 months (1 of which was $2 million), there are currently 4 under contract with an average of only 25 days on market! There's an additional 4 active listing averaging only 23 days on market, ranging from $1,079,000 to $1,330,000. These are all decent sized lots ranging from 10,000 - 17,000 square feet. One of these listings is my own. You can click here for more information. We had 2 great offers in the first two weeks! We have an accepted offer, however the buyer must sell first. Most of us will be open this Sunday from 2-5 PM, so please stop by :)

Almost every indicator for March showed the market much stronger than January & February.  Part of this could be seasonal, however on a % basis things were pretty good.  The number of single family home sales were up 45%  and condo sales were up 55%! Median home prices month over month were up 8% and condos up 2.6%.  Days on market for homes were down 30% and 32% for condos.  This is twofold: things are selling quicker and things that aren't selling, sellers are pulling off the market to rent.  This is also reflected in the inventory with 27 less homes on the market than the previous month.  However, condo inventory is up 75 units in the same period.   

Could this be a sign of a recovery? Although early to say, there was a recent article in Forbes indicating that the economy could possibly have bottomed out.  Given all the bad financial news this past fall, that trickled over to closings & statistics in January & February.  March's stats paint a better picture of what's been happening since the beginning of 2009, with most properties that went under contract in mid- January & shortly thereafter equate to closings in March.    

I've also noticed buyer activity picking up dramatically.  I thought I had a busy open house last Sunday with 30 parties coming through.  Another agent in my office had 50 parties (yes Five Zero) come through his!  Not too long ago most agents I talked to would be happy with 10 parties...

Hello everyone! Here's a new listing I got in Kaneohe.  These 1 bedroom units seldom become available.  I sold one last year for $290,000.  This one is $270,000!

I've got a great listing w/ awesome views of Diamond Head ready to move in to.  Completely turn-key, this eco-friendly home is situated at the end of a culdesac.  There are top of the line kitchen features, such as: stainless steel appliances, quartz countertops, custom cabinets, gas stove & wine refer. New electrical work, each room wired for DSL, Cable. Hypoallergenic & eco friendly materials used in finish work. 2 bd, 1 ba up, 1 bd, 1 ba down w/ seperate entrances for rental option? In addition, the sellers have done their own blog to document the work.  For more info. on this home & others in Palolo click here !