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Local Market Update: Waikiki - May 2016

By
Real Estate Agent with HI Pro Realty LLC RB-21531 RS-76763

 

 Waikiki Aquariums Ke Kani o Ke Kai Concert Series

 Waikiki Aquarium Ke Kani o Ke Kai Concert Series

 

The Waikiki Real Estate Market continues to see steady condo sales with days on market continuing to shorten.

 

Local Market Update

The Waikiki Neighborhood of Honolulu - April 2016

 

Single Family Homes

May

Year to Date

2016 / 2015 Change

2016 / 2015 Change

New Listings

0 / 1 - 

1 / 1 -

Closed Sales

0 / 0 -

1 / 0 -

Median Sales Price

$0 / $0 -

$390,000 / $0 -

Percent of Original List Price Received

0.0% / 0.0% -

100% / 0.0% -

Median Days on Market Until Sale

0 / 0 -

0 / 0 -

Inventory of Homes for Sale

0 / 1 -

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Waikiki Beach Honolulu, Hawaii

 Waikiki Beach, Honolulu Hawai‘i

 

 

Condos

May

Year to Date

2016 / 2015 Change

2016 / 2015 Change

New Listings

133 / 119  12%

715 / 716  0%

Closed Sales

91 / 92   -1%

424 / 364  16%

Median Sales Price

$355,500 /  $361,500  -2%

$370,000 /  $375,000  -1%

Percent of Original List Price Received

96.5% / 93.9%  3%

96.1% / 96.3%  0%

Median Days on Market Until Sale

26 / 35  -26%

35 / 40  -13%

Inventory of Homes for Sale

525 / 550  -5%

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Posted by

Crypto Certified Agent - By Propy 

HI Pro Realty LLC

REALTORS®, PROPERTY MANAGERS® 

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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I'm surprised that condos are that affordable in location with such amazing scenery. 

Jun 17, 2016 07:59 AM
Kimo Stowell

Aloha Inna, lol you do not get a view like that for the median condo sales price but you do get relatively close to the beach. Thanks for the comment!

Jun 18, 2016 05:01 PM
Jane Chaulklin-Schott
TEAMCONNECT REALTY - (407) 394-9766 - Orlando, FL
TeamConnect Luxury Homes - Orlando, Florida, 32836

Aloha,  Kimo Stowell .  Interesting to revisit Waikiki and see your real estate market report.  Looks like things are progressing nicely on Condo listings/Sales.

I absolutely was so surprised when I visited Waikiki 2 years ago. I lived on Waikiki for 2 years while attending the University of Hawaii Manoa. I loved it then, but when I last visited it in 2014, I was amazed at its beautiful and progressive changes.  My eyes almost popped out of my head. So Grand!!!!!!!  Our whole group felt the very same. It was as if Waikiki was not only paradise, but had relocated to Paradise.

Jun 17, 2016 09:17 AM
Kimo Stowell

Aloha Jane, to stay competitive in the hospitality market Waikiki must maintain a constant state of renewal. Mahalo for the visit!

Jun 18, 2016 05:05 PM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Kimo Stowell Thank you for taking the time to share this.  Most insightful information for all!

Jun 18, 2016 11:52 AM
Kimo Stowell

Aloha Jim, thanks for taking the time to comment. I believe the single family sale is actually a misclassification. Single Family sales are very rare in Waikiki.

Jun 18, 2016 05:12 PM