Hawaii Homes

The NAR recently reported that Oahu homes prices are the fourth highest in the country of 149 metropolitan areas during the second quarter of 2007.  San Jose, San Francisco, and Anaheim took the top three positions. International investors keep the demand strong.  I know there are a lot of people waiting on the sidelines for prices to eventually drop. However, once there is a first sign of a drop people will be flooding listings with offers.  For example, in Hawaii Kai, The Colony at Peninsula and Kalele Kai are seeing a lot of activity.  I am in escrow right now at The Colony for a two bedroom. Listings are still getting multiple offers and days on market is short.  As inventory decreases at Hokua and Koolani, I think empty nesters are taking a serious look at The Colony.