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September 18, 2024

Ossipoff Home: A Crown Jewel in Maunalani Heights Listed by Sachi Hawaii

5112 Maunalani Circle Interior

A truly exceptional Ossipoff-designed home is now on the market, offering a rare opportunity to own a piece of Hawaii’s architectural history. Located at 5112 Maunalani Circle, this single-story residence boasts breathtaking views of Kahala, Diamond Head, and Waikiki, in a serene and private setting.

Designed by the renowned architect Vladimir Ossipoff, the home showcases his signature modernist style, seamlessly blending mid-century modern aesthetics with the natural beauty of its surroundings. Ossipoff, a pioneer of modern architecture in Hawaii, is celebrated for his innovative designs that have had a profound impact on the state’s architectural landscape. His work includes iconic structures such as the IBM Building, State Office Building, and the Board of Water Supply Building. These works of art, among others, exemplify Ossipoff’s ability to create functional and aesthetically pleasing spaces that are in harmony with their natural environments.

5112 Maunalani Circle Exterior

The Maunalani Circle property offers a harmonious blend of indoor and outdoor living spaces, with expansive windows that frame the stunning ocean views. A private pool provides a tranquil oasis for relaxation and entertaining. The home’s secluded location and well-hidden driveway ensure privacy and tranquility.

This unique property is a must-see for those seeking a truly exceptional and unforgettable living experience.

For more information or to schedule a private viewing, contact Sachi Hawaii:
(808) 596-8801 | info@sachihawaii.com

September 18, 2024

Fed Rate Cut: Potential Impact on Hawaii Real Estate Market

Today’s announcement by the Federal Reserve to lower interest rates has sent ripples through financial markets, potentially influencing the housing landscape in Hawaii. As a homeowner or potential buyer, you might be wondering how this decision could affect your local real estate market.

Understanding the Connection

Interest rates play a crucial role in the housing market. When rates are low, it becomes cheaper to borrow money for a mortgage. This can stimulate demand, leading to increased home prices. Conversely, higher interest rates can dampen demand and potentially lead to lower home prices.

Potential Impacts on Hawaii’s Market

Given the current state of Hawaii’s real estate market, characterized by a steady market with rising inventory, a Fed rate cut could have the following potential impacts:

  • Increased Demand: A lower interest rate could make homeownership more affordable for many buyers, leading to increased demand. This could help to absorb the growing inventory and potentially drive up prices.
  • Competitive Market: If demand surges, it could intensify competition among buyers, potentially leading to bidding wars and higher home prices.
  • Refinancing Boom: Existing homeowners with adjustable-rate mortgages or high-interest rates might consider refinancing to secure lower monthly payments. This could free up more disposable income for other purchases or investments.
  • Investor Activity: Lower interest rates can make real estate investing more attractive. Investors might be more inclined to purchase properties as rental income becomes more profitable.
  • Factors to Consider

    While a Fed rate cut can have a significant impact on the housing market, it’s important to consider other factors that might influence Hawaii’s real estate landscape, including:

  • Local Economic Conditions: The health of Hawaii’s economy, including tourism and job growth, can significantly affect housing demand.
  • Inventory Levels: The availability of homes for sale will continue to be a major factor influencing prices and market dynamics.
  • Regulatory Changes: Any changes to zoning laws, property taxes, or other regulations can impact the housing market.
  • Hawaii’s real estate market is composed of diverse micro-markets, each with its own unique demand from local and international buyers. Consequently, the specific impact of the interest rate cut may vary significantly across these micro-markets.

    The recent Fed rate cut presents a potential opportunity for buyers and sellers in the Hawaii real estate market. However, the exact impact will depend on a variety of factors. It’s essential to stay informed about market trends and consult with a real estate professional to make informed decisions.

    Disclaimer: While this article provides general information, it is not intended as financial advice and does not provide any guarantee or warranty. Consulting with a real estate professional or financial advisor is recommended for personalized guidance.

    To find out more about Hawaii Real Estate, contact Sachi Hawaii:
    (808) 596-8801 | info@sachihawaii.com

    September 17, 2024

    Hawaii Real Estate Market Update: August 2024

    In August, O‘ahu’s real estate market saw a notable increase in housing inventory, with single-family home listings rising by 27.1% year-over-year to 760 active properties, and condo listings up by 64% to 1,879. Despite these gains in inventory, sales were relatively stable compared to the previous year. Single-family home sales saw a slight increase of 0.4%, while condo sales experienced a 5% decline. Median sales prices showed modest changes, with single-family homes ending the month at $1,122,000—up 1.1% from the previous year—and condos at $500,000, marking a 2.9% decrease from August 2023.

    Single-Family Home Resales

    Number of Sales Median Sales Price
    August 2024 253 +0.4% $1,122,000 +1.1%
    August 2023 252 $1,110,000

    Condominium Resales

    Number of Sales Median Sales Price
    August 2024 401 -5.0% $500,000 -2.9%
    August 2023 422 $515,000

    Source: HiCentral.com

    The pace of sales remained consistent, with single-family homes spending a median of 14 days on the market, which is four days quicker than a year ago. Condos, on the other hand, had a median of 28 days on the market, an increase of 10 days from the previous year. In terms of sale prices, 30% of single-family homes sold above their original asking price in August, a slight decrease from 33% last year. For condos, only 15% sold above asking price, down from 26% in August 2023.

    Inventory levels varied significantly across different regions. Single-family homes were predominantly listed in Diamond Head, ‘Ewa Plain, Leeward, and Metro areas, making up over half of the total active listings. Condo inventory more than doubled in several neighborhoods, particularly in the $300,000 to $599,999 price range. Overall, condo inventory has increased by over 50% in the past two years, with one- and two-bedroom units seeing the most significant rise. New listings also saw an uptick, with single-family home listings up 4.8% and condo listings up 14.6% compared to August 2023, offering buyers a broader selection across the island.

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