Sachi Hawaii Newsletter: January, 2021

Aloha Kakahiaka and welcome to the Sachi Hawaii Newsletter for January, 2022.

 

Hawaii Real Estate

In the first couple weeks of January, we're now getting the final numbers for December as well as annual statistics for 2021. As expected throughout the very hot 2021 real estate market, the final numbers are at or near record highs. 

Honolulu Board of Realtors President Chad Takesue summed it up perfectly: “It was clearly a seller’s market in 2021. Not only did properties enter escrow at a record pace, but they often marked multiple offers and sold for a premium.”

Low interest rates are keeping buyers interested regardless of the hot prices.  Rental prices have been increasing too, creating a more equal alternative cost for those on the fence about buying versus renting. Though there's a drop in number of closings in December versus the previous year, that's likely due to lack of inventory than waning demand.

Monthly Statistics
Single-Family Home Sales (December, 2021)

   Number of Sales  Median Sales Price
2021  378  -10.0%  $1,050,000  +20.7%
2020  420  $870,500

 

Condominium Sales (December, 2021)

   Number of Sales  Median Sales Price
2021  593  +15.4%  $485,000  +6.6%
2020  514  $455,000

 

Annual Statistics
Single-Family Home Sales (2021 vs 2020)

   Number of Sales  Median Sales Price
2021  4,526  +17.9%  $990,000  +19.3%
2020  3,838  $830,000

 

Condominium Sales (2021 vs 2020)

   Number of Sales  Median Sales Price
2021  7,203  +53.1%  $475,000  +9.2%
2020  4,706  $435,000

Source: hicentral.com

 

Sachi Hawaii Market Update

As mentioned in our annual holiday letter, Sachi Hawaii had a very fortunate and successful year, thanks to the booming market. We were fortunate to represent buyers and sellers from around the globe for multiple sucessful real estate transactions. 

  • Sachi Hawaii Listed & Sold 57 Properties, totaling $80,239,999
  • Sachi Hawaii Represented 59 Buyers, totaling $58,213,232
  • Sachi Hawaii Represented the Seller for 4433, 4423, and 4415 Kahala Avenue, a residential vacant land sale totaling $24,000,000, separate from the above totals.
  • Sachi Hawaii sold properties all over the island including Diamond Head, Kahala, Waikiki, Kakaako, Aina Haina, Waialae Iki, Aina Haina, Niu Valley, Hawaii Kai, Kailua, Kaneohe, Ewa, Ko Olina, and beyond.
  • Thank you for your support and congratulations to our 'Ohana of buyers and sellers!

 

ONE Ala Moana

For December and January, we'd like to introduce two new listings in Ala Moana.  ONE Ala Moana is one of Honolulu's most prestigions and well established luxury residences, with an unrivaled location, located alongside Ala Moana Center, and one block from Ala Moana Beach Park. Offering true luxury resort-style amenities and units with high-end luxury finishes, this perfect work/play/live locale offers the best Hawaii has to offer in an unbeatable package.

ONE Ala Moana Penthouse #2205/#2207

This unique sale is two Penthouse unit combined into an ultra-luxury destination, spanning 5 bedrooms and just over 4,000 sq.ft. of living space. A true condominium alternative for larger families or idea for a corporate retreat, you won't find a better value 5 bedroom ultra-luxe condominium destination. Featuring direct south-facing Pacific Ocean, Magic Island, and Ala Wai Harbor views, discover world-class views situated in a prestigious luxury residence in an unrivaled location.

For more information on this property, contact Loren Pulice: (808) 381-8080, lpwaikiki@aol.com

View Property Details for ONE Ala Moana Penthouse #2205/#2207

 

ONE Ala Moana #1907

Situated on the 19th floor, this sought-after front-corner unit features a spacious 2 bedroom, 2 bath configuration with direct south-facing Pacific Ocean, Ala Wai Harbor, and Magic Island views. Unique to this floor plan and configuration, you'll find soaring 10-foot ceilings in the main living area, opening up the space to an ultra high-end feeling. Featuring high-end finishes, stunning views of paradise, and ONE Ala Moana's prestigious resort-style amenities, don't miss this slice of paradise before it's gone.

For more information on this property, contact Atsuko Ajed: (808) 780-4572, atsuko@sachihawaii.com

View Property Details for ONE Ala Moana #1907

 

Hawaii Travel Update

Hawaii still has relatively limited international arrivals, with the majority of tourism arrivals coming from Mainland USA.

In January, Honolulu Mayor Rick Blangiardi instated at 50% capacity for large-scale indoor events to help limit COVID-19 exposure, as the state has been consistently posting roughly 2,000 to 4,500 new infections almost daily since before the new year.  Flights can and do get canceled, so we encourage all who are visiting plan for that possibility. Sachi Hawaii does manage a handful of vacation rental properties.  Please do take a look at our offerings at https://vacations-sachihawaii.escapia.com/ and contact us with any questions.

For more information on traveling to Hawaii, visit hawaiicovid19.com/travel


Sachi Hawaii offers full-suite Buyer, Seller, Property Management and Concierge Services. For questions, contact Sachi Hawaii at (808) 596-8801 or info@sachihawaii.com. Information herein deemed reliable but not guaranteed or warranted. Mahalo!