Aloha Kakahiaka and welcome to the Sachi Hawaii Newsletter for September, 2021.
Hawaii Real Estate
Oahu's red-hot real estate market hits a new peak as the median price for single-family homes on Oahu rises to $1,050,000. The median sales price for condominiums comes in at $500,000, showing high-end condominium demand continuing to regain strength during the COVID-19 era. For single-family homes, the number of sales rose 14.9% in August, with condominium sales rising 65%.
Inventory remains low, with just 2,623 properties on the market, as of September 8th. Pre-pandemic, that number would often be double. This shows that demand continues to out-pace supply, as buyers look to scoop up a piece of paradise while interest rates are low. A continued factor may also be Hawaii remaining relatively safe versus other major metropolitan areas when comparing COVID-19 infection data, coupled with the ability for many US Mainland employees able to work remotely.
Single-Family Home Sales (August, 2021)
|Number of Sales||Median Sales Price|
|2021||425 +14.9%||$1,050,000 +25.1%|
Condominium Sales (August, 2021)
|Number of Sales||Median Sales Price|
|2021||675 +65%||$500,000 +16.3%|
Sachi Hawaii Market Update
For August, Sachi Hawaii listed and sold 4 properties, and represented buyers for another 5. Our previously reported Diamond Head property at 2999 Makalei Place successfully closed — congratulations to both the buyer and the seller!
Our agent, Itoko Leciejewski, also closed her 3-bedroom luxury condominium property at Ae'o. This front-corner unit features sweeping East to West Pacific Ocean panoramas, while enjoying an upscale, modern living experience in Ae'o, part of Ward Village's newer luxury condominium developments. Congratulations to Itoko, her seller, and the new owners!
Agent and Broker in Charge Ayako Ancheta also had a notable closing, an oceanfront property along Kalanianaole Highway. Ayako represented the buyer for this magnificient property. This beachfront and oceanfront property is perfect for entertaining and experiencing Hawaii with a true taste of indoor/outdoor luxury living. Congratulations to Ayako, her buyer, and the sellers!
Other notable Sachi Hawaii sales include a single-family home in Kailua's Keolu Hills, a beachfront condominium unit in Colony Surf, a luxury single-family home in Kahala, a 40th floor 1-bedroom unit in Ae'o, a Ko'olina townhome, a wonderfully positioned condominium at Diamond Head Vista.
Uraku Tower #28A
Sachi Hawaii is pleased to announce the listing of Uraku Tower #28A. This is unlike any listing previously seen in the building, and has just completed a full high-end renovation in 2021. Uraku Tower is one of Honolulu's most prestigious & long-standing upscale, full-service condominium developments.
Fully re-imagined & upgraded using high-end materials, this spacious 3 bedroom, 2.5 bath, 2,255 sq.ft. residence features a European-inspired gourmet kitchen with high-end appliances, two resort-style luxury bathrooms plus a powder room, wide-plank hardwood flooring, custom designer lighting, & more, all with stunning Pacific Ocean & coastline panoramas from the main living areas & master bedroom suite.
For more information on this property, contact Moe Matsuda: (808) 230-4603, firstname.lastname@example.org
Hawaii Travel Update
Hawaii continues to look for ways to help curb the spread of the COVID-19 delta variant. Implementing the Safe Access Oahu program, the state looks to use proof of vaccinations as a way to help businesses and its patrons safely re-open.
"The “Safe Access O‘ahu” program requires all employees, contractors, and volunteers of businesses, such as restaurants, bars, gyms, movie theaters, museums, arcades and other similar establishments, to show proof of full vaccination against COVID-19 or a negative COVID-19 test result each week in order to operate. In addition, customers must show proof of full vaccination or a negative COVID-19 test result taken within the previous 48 hours in order to enter the establishment." Source: oneoahu.org/safe-access-oahu
Waikiki have begun to slow, as families return to a semblance of a more normal life and kids return to school. The governor urged visitors to consider their impact to the state and potentially postpone their trips, and some hotels have been reporting an increase in cancellations. However, tourism numbers do remain relatively healthy. Businesses are still struggling to fill vacant positions, though that is expected to ease as additional unemployment benefits wane.
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 email@example.com. Mahalo!