Honua Kai November Update

As the year nears its end, we continue to monitor the Honua Kai real estate market for new listings, units going under contract, and closed sales. So let us take a look at the month of November and thereby make reasonable assumptions for the upcoming high season.

New Listings

Konea 837 - A studio in the newer tower with a prime location. It is priced at $769K and it is on the on-site property management program, with a very active occupancy rate.

Pending Listings

The listings below are those that went under contract during the month of November only - there are other units that are still Pending but came under contract outside of November.

Konea 432 - A large 2 bedroom / 2 bathroom unit facing the mountain, on the outside perimeter of the Konea tower. Priced at $899K, it if is a prime opportunity for a buyer needing the size/space of a 2 bedroom unit but at a lower price point than the average.

Sold Listings

Hokulani 528 - A 1 bedroom / 1 bathroom unit on the outside perimeter of Hokulani. Asking price of $619,900, it sold for $600K on November 1st.

Hokulani 233 - A Studio in a prime location of Hokulani tower. It sold for $639,900 and the buyer received 2 years of pre-paid HOA's from the developer. The sale closed on November 8th.

Hokulani 533 - Another Studio in the same stack as the previous sale. It sold for $665K but there are special circumstances - for those interested in the net sale, contact us for more details in order to make a better determination of its sales price.

Hokulani 244 - A prime opportunity for a savvy investor to buy one of the best performers in terms of ROI. This 1 bedroom / 1 bathroom unit sold for $685K on November 26th.

Konea 525 - A great value in the 3 bedroom / 3 bathroom micro-niche, this unit sold for $1.89M on November 8th. These center-stacked 3 bedroom residences fare very well in terms of investments due to their high occupancy and comparatively lower acquisition cost.

Hokulani 929 - Ocean views at Honua Kai can be pretty spectacular - particularly so from a vantage point such as the 9th floor. This 3 bedroom / 3 bathroom unit of 1,610 square feet sold for $2,214,950 and the purchaser enjoyed FIVE years of pre-paid HOA's.

Developer Inventory

As we continue to advise our clients, keep in mind that the developer does NOT list all of their inventory online - so we continue to post the most updated information on our monthly Honua Kai Sales Updates. But for real time information, contact us directly.

 Hokulani

Konea

What conclusion can we draw from November's sale activity at Honua Kai? Interpretation remains subjective, but one can reasonably conclude that the slower absorption rate in the past few months (compared to the blistering pace earlier in the year) is a reflection of the slow season. September is the most significant cliff of the year with a slight uptick in October, with the activity on those months typically reflecting in November sales. What do we expect this coming high season? Another marked shift in the market with some of the micro-markets that did not experience much gain last high season catching up to those that have lead the way. And Honua Kai has been one of the prime examples of how quickly the market can turn and activity this high season will (arguably) continue to show that. Questions about buying or selling at Honua Kai? Contact us today.