Several years ago, when homes prices started to skyrocket across the U.S. and here in Hawaii, there was suddenly a forest of new luxury condominium growth, that is to say, new buildings were sprouting up all over Honolulu proper.  It seems like many of them have had brakes put on them after the market crash in October of 2008, however there are  many that have been completed.  The question was, among locals, "who was going to but the very expensive units?".  Today we know the answer to that question.  There is a nice mix of mainland buyers looking for a nice vacation home, local couples young and old alike as well as local families.

There are still many units available in these new buildings.  Some are from the developers and some are from the original buyers.  These prices range from the high Four Hundred Thousands for a one bedroom up into the mid Eight Hundred Thousands for a two bedroom unit.  Buyers love being in the heart of town. 

Gayle have recently had an alternative brought to our attention.  There is a building that very rarely has units come on the market.  The building is called the Royal Queen Emma and is just about on the line of Lower Nuuanu and Upper Downtown.  We just took a listing in this building and started showing it on February 19, 2009.  The response has been excellent.  There are only 24 units in the Royal Queen Emma and as of today, is boosts an Owner Occupancy Percentage Rate of 80% which is very high. 

Royal Queen Emma is at 222 Vineyard Street.  #403 is available and has 3 Bedrooms, 2 Bathrooms, 2 Secured Parking, Central A/C, 1,170 sf, Floor to Ceiling Windows, Washer & Dryer in the Unit, Close to Queens Hospital, Close to Pali, Freeway, Downtown, Ala Moana, Restaurants and Shopping. MLS# 2902300  Offered at just $450,000 Fee Simple.