Sachi Hawaii Newsletter: October, 2021

Aloha Kakahiaka and welcome to the Sachi Hawaii Newsletter for October, 2021.

 

Hawaii Real Estate

August's record-breaking $1,050,000 single-family home median sales price was matched pound for pound in September, matching the same number, with just one fewer sale, at 424 closings.  This marks a 19.3% increase in median sales price over the previous year during the same period. Condominium sales cooled a bit in September, falling from $500,000 median sales price to $478,000, with 60 fewer closings.  Condo statistics tend to ride waves depending on when new projects are selling and what price point those projects are at, so it's likely not an indicator of any market shift.

Demand remains high across the board in the Aloha state as many companies continue to implement work from home strategies or permanently move portions of their workforce to work from home. Properties continue to sell above asking at the rate of 2 out of every 3 sold. Rental prices also continue to climb with a limited inventory available.

Single-Family Home Sales (September, 2021)

   Number of Sales  Median Sales Price
2021  424  +8.4%  $1,050,000  +19.3%
2020  391  $880,000

 

Condominium Sales (September, 2021)

   Number of Sales  Median Sales Price
2021  615  +34.9%  $478,000  +7.4%
2020  456  $445,000

Source: hicentral.com

 

Sachi Hawaii Market Update

For September, Sachi Hawaii listed and sold 5 properties, and represented buyers for another 9.  The top seller this month, a Niu Valley single-family home that sold $150,000 above asking in just 12 days.

Situated on a quiet side street, this single level home exudes charm with its 3 bedroom, 2 bath floor plan that includes mountain views from the yard spaces. Congratulations to Yuki Yonekura on her successful closing, and congratulations to her seller and the new owners!

5561 Pia Street
View Property Details for 5561 Pia Street

Sachi Hawaii's international buyers make up 12 of the remaining sales properties, 4 represented on the seller's side and 8 on the buyer's side. These are primarily depreciation properties throughout Kaneohe, Ko Olina, and Ewa. One additional property was sold in Chateau Waikiki where Yuki Yonekura represented the buyer.

 

411 Oneawa Street #A

Sachi Hawaii is pleased to announce the listing of 411 Oneawa Street #A in Kailua.  This unique, newly renovated two-story legal duplex has incredible potential for multi-generational living or investment. Each unit includes its own separate entrance and full kitchen.

The bottom floor unit features open and shaded outdoor yard spaces outside. Inside, you'll find a bright 3 bedroom, 2 full bath floor plan, spacious kitchen area, dedicated living room, and lots of storage throughout.

The top floor unit features a wrap-around 180-degree partially covered lanai space looking toward the majestic Ko'olau mountains. Inside, a 3 bedroom, 1 full bath floor plan awaits, with an open-concept living, kitchen, and dining space.

For more information on this property, contact Moe Matsuda: (808) 230-4603, moe@sachihawaii.com

411A Oneawa Street - Upper Lanai

411A Oneawa Street - Upper Living Area

411A Oneawa Street - Lower Kitchen Area

411A Oneawa Street - Lower Living Room

View Property Details for 411 Oneawa Street #A

 

Hawaii Travel Update

COVID-19 cases in Hawaii have begun to fall again, allowing the Governor and Honolulu Mayor to being lifting restrictions. Under certain conditions, residents can once again start attending sporting events for school activities. Mayor Blandiardi is also looking at ways to bring back large-scale wedding events.

Restaurants continue to adapt to the mandate requiring proof of vaccination or recent proof of a negative test for dine-in eating.  Many businesses continue to offer take-out and curbside options for those who wish to avoid providing the documentation. The state continues to look for ways to balance the all-important tourism, a mainstay of Hawaii's economy, with the wishes of local residents looking to keep incoming travelers at a manageable level during the pandemic.

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. Mahalo!