Happy Holidays and Happy New Year from Sachi Hawaii

2021 can be summarized as a year of hope, one where we looked toward a future that was a return to normal. While we made many strides toward that goal, uncertainty remains as new COVID variants continue to emerge. With that said, we’d like to continue to send our most sincere gratitude toward those who continue to work on the front lines during the pandemic, and a heartfelt  wishes to anyone who has been affected by the pandemic.
 
Hawaii’s Real Estate market, as well as many markets around the US, saw a resurgence during 2021.  The market was very hot, pushing record-high sales prices and number of transactions for both single-family homes and condominiums. 

The market reached a new peak in August, with single-family home median sales price pushing to $1,050,000 — a record high and a 25% increase over the previous number from 2020. Condominium median sales price reached $500,000, a 16% increase over the previous year. Condominium sales saw the biggest rebound in number of closings with 675 in August, a 65% increase over the previous year.

Although October cooled just slightly, where the median sales price for single-family homes hit $1,000,000, and $500,000 for condominiums, November was a return to August’s record-breaking numbers, with single-family homes returning to $1,050,000 and condominiums staying steady at $500,000 median sales prices. 
 
Near the peak of the market, Shannon Heaven, president, Honolulu Board of REALTORS® had this to say: “As we’ve seen all year, limited inventory paired with increased purchasing power due to near-record-low interest rates continues to drive sales prices in a fiercely competitive market. Despite the record-high median sales price, it’s important to note that the market varies tremendously from property type to price and neighborhood, so buyers shouldn’t feel discouraged by a single statistic.”

 

Sold by Sachi Hawaii in 2021

Sachi Hawaii would like to thank our ‘Ohana for their continued support. As we wrap up another successful year, we end with a historic land sale along Kahala Avenue, selling 4433, 4423, and 4415 Kahala Avenue vacant lots to an off-shore buyer. Additional notable closings include 4714 Kahala Avenue, 2999 Makalei Place in Diamond Head, Waiea #2906, 3030 Kiele Avenue in Diamond Head, Waiea #1002, Koolani Penthouse #4611, among many others.

 

New Additions to Sachi Hawaii

Please join us in welcoming Keiko Nespor, Loren Pulice, and Yuki Yonekura to our sales team, as well as Katsunori Hasunuma, Dianna Pratt, and Masaki Coggins to our property management team.


 
Mahalo nui loa from all of us at Sachi Hawaii to our precious clients, friends, and family members for being a part of our successful 2021.  As we look to the future in 2022, we wish for our extended ‘Ohana good health and fortune, as we continue to serve with enthusiasm, sincerity, privacy, discretion and professionalism.  Here’s to another successful year with our most valued patrons and newest members to our Sachi Hawaii family.

This year, Sachi Hawaii chose to support our local community that has been affected by the COVID-19 pandemic.  Sachi Hawaii has made a donation to the Domestic Violence Action Center's Hale Fund in lieu of gifts, supporting local families who may be struggling with the pandemic.

Mahalo for your continued support and Happy New Year!

- The Sachi Hawaii Team