Sachi Hawaii Newsletter: March, 2022

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

 

Hawaii Real Estate

Low inventory across the state continues to be the trend, driving up prices, causing fast closings far above asking price, and giving buyers fewer options, creating a scenario where buyers may consider properties outside of their desired search criteria. Around this time last year marked a large upswing in demand for Hawaii real estate, both for single-family homes and condominiums.  From here forward, expect market updates to be more closely matched for number of sales and median sales price, as current market conditions more closely match the previous year.

Honolulu Board of REALTORS President Chad Takesue's statement on hicentral.com reads: “We saw a typical dip in sales in January to February of this year, which we attribute to muted activity around the holiday season. Along with rising median sales prices for both markets, median list prices are also starting to tick up as sellers take advantage of the lack of competition.”

February set another new record for single-family home median sales price, now at $1,125,000.

Monthly Statistics
Single-Family Home Sales (February, 2022)

   Number of Sales  Median Sales Price
2022  241  -7.3%  $1,125,000  +22.6%
2021  260  $917,500

 

Condominium Sales (February 2022)

   Number of Sales  Median Sales Price
2022  486  +9.0%  $497,000  +8.6%
2021  446  $457,500

Source: hicentral.com

 

Sachi Hawaii Market Update

Sachi Hawaii kicks off March with the successful closing of the Konishiki Hale.  Konishiki is Hawaii's famed sumo champion who competed for years in Japan's iconic sport. The sale of this home marks a landmark transaction for the Maili neighborhood, where his beachfront estate stands in a league of its own. Sachi Hawaii is proud to have represented both the Buyer and Seller, with Sachi Braden as the seller's agent and Ayako Ancheta as the buyer's agent.  Congratulations to Konishiki-san, the new owners, and everyone involved in the sale.

 

Waikiki Beach Tower

We would like to introduce Itoko Leciejewski's new listing at Waikiki Beach Tower.  This high floor 2 bedroom, 2 bath unit was renovated in 2017 to include an island-modern feel. This unit features panoramic east to west Pacific Ocean and Waikiki Beach views, with iconic view spots including Royal Hawaiian Hotel, surf spots, and more. The unit features a spacious main living area, which connects to a 171 sq.ft. covered lanai overlooking paradise.

The central location puts all-things Waikiki within blocks, including dining, shopping, restaurants, beach activities and more.  Itoko Leciejewski is listing Waikiki Beach Tower #2104 for $860,000, and it is a Leasehold unit.

Waikiki Beach Tower #2104

Waikiki Beach Tower Interior

Waikiki Beach Tower View

For more information on this property, contact Itoko Leciejewski: (808) 384-3228, itoko@sachihawaii.com

View Property Details: Waikiki Beach Tower #2104

 

The Tahitienne

Sachi Hawaii would also like to present The Tahitienne Inc. #604. This oceanfront condo residence sits on Diamond Head's prestigious Gold Coast, located at the east end of Waikiki. The property was renovated in 2015 with a beautiful modern design with updated lighting, flooring, cabinetry and much more. This unit sits on the ocean side and enjoys stunning, direct Pacific Ocean and coastline views where you can watch sunsets, surfers, and sailboats year-round.

Listed by Vince Vanderstroom, don't miss this chance to capture a true island retreat in one of the most prestigious condominium destinations in Hawaii.

Tahitienne Inc. #604

Tahitienne View

Tahitienne Interior

For more information on this property, contact Vince Vanderstroom: (808) 778-0065, vince@sachihawaii.com

View Property Details: Tahitienne Inc. #604

 

Hawaii Travel Update

March has been a big month for quality of live improvements for traveling to Hawaii.  March 6th ended the states requirements for showing proof of vaccination for dining in restaurants.  Restaurants may still choose to pose the requirement, but it is no longer a state mandate.  But the largest change comes to the removal of showing proof of vaccination or a negative test while traveling to Hawaii.  This change takes effect on March 25th, and will likely draw a much larger crowd to the islands, just in time for Spring Breakers.

The situation continues to change quickly, so it's important that you always check the most up-to-date information prior to your arrival.

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


Sachi Hawaii offers full-suite Buyer, Seller, Property Management, Vacation Rental, 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!