Kauai Real Estate Update, Oahu-Maui-Big Island Real Estate, Hawaiian Airlines New Flights

Kauai Real Estate SOLD and NEW listings Island Wide! Add comments

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I Just Listed unit #143! Located on the top floor of a two story building with it’s own private stairwell. Exquisitely updated, attention to detail throughout! Click on the photo for a video tour and call Lynda Gill (RS) 808-346-0056 for more information. Listing Price: $299,000 (LH)

Kauai Real Estate Update 
For a complete list of all the market activity for the island of Kauai for last week click here: Kauai Real Estate Activity December 4 through December 11, 2017

My Poipu Beach Real Estate Page has been updated to include all the information on the Fee Simple market since the first of this year.  For that information click here: Poipu Beach Real Estate Year To Date Information

I just listed a gorgeous 1 bedroom 1 bath condominium at the Kiahuna Plantation with a very unique feature; this is one of the very few units that has it’s own private stairwell!  The configuration of this building is very unique and the interior of this unit does not disappoint.  Click on the photo to take a video tour and view all of the real estate activity at this resort since January 1 of this year click here: Kiahuna Plantation Real Estate Current Market Analysis  

Hawaiian Airlines Announces Four Summer Flights
Hawaiian Airlines will launch a daily non-stop service between San Diego International Airport and Maui’s Kahului Airport on May 1, with flights serviced by the new Airbus A321neo aircraft.
The Honolulu-based carrier also announced four new daily summer flights for 2018, including its first international seasonal service. The new summer flights, also serviced by the airline’s Airbus A321neo fleet, will be between San Francisco and Honolulu; Oakland and Kona, Big Island; Los Angeles and Kahului, Maui; and Narita (Tokyo) and Honolulu.

Oahu, Maui and Big Island Real Estate Update

Last week I gave you the Kauai Real Estate update for the first 11 months and this week I have Oahu, Maui and the Big Island of Hawaii’s numbers.

Oahu’s year to date number of single-family home sales for the first 11 months of the year is 5.8% higher than the same point last year. The year-to-date median price is $758,000 through the end of November, which was 3.1% higher than the $735,000 at the same time last year.
Condo sales through the end of November were 7.6% higher than the same time period last year, while the year-to-date median price of $405,000 was 4.1% higher than the median price for the first 11 months of 2016, which was $389,000.

On Maui the number of sales for residential homes at this time last year was 978 and today the count is 1,010 which is an increase of 3.3%. The Median Price for a home on Maui in November of 2016 was $635,000 and November 2017 it’s $695,000 an increase of 9.4%.
Condominium sales are up from last years 1,189 closed transactions to 1,311 and increase of 10.3%. The Median Price was $415,000 last year and now it’s at $447,000 an increase of 7.7%.

On the Big Island condominium sales jumped 20.55%. The median price of a condo rose 4.67% to $336,000, from $321,000 last year.
Single-family home prices also rose on the Big Island, with the median price increasing 4.48% to $350,000 in November, from $335,000 last year. Sales of single family homes increased by 8.96% from 2099 this time last year to 2287 completed sales year to date.

National Real Estate News

The real estate Year To Date information is one month slower on a National level. What is available at this point is the first 10 months of data.

Existing-home sales increased in October to their strongest pace since earlier this summer, but continual supply shortages led to fewer closings on an annual basis for the second straight month.

Total existing-home sales, which include single-family homes, townhomes, condominiums and co-ops, increased 2.0% to a seasonally adjusted annual rate of 5.48 million in October from a downwardly revised 5.37 million in September. After last month’s increase, sales are at their strongest pace since June (5.51 million), but still remain 0.9% below a year ago.

The median existing-home price2 for all housing types in October was $247,000, up 5.5% from October 2016 ($234,100). October’s price increase marks the 68th straight month of year-over-year gains.

Total housing inventory3 at the end of October decreased 3.2% to 1.80 million existing homes available for sale, and is now 10.4% lower than a year ago (2.01 million) and has fallen year-over-year for 29 consecutive months. Unsold inventory is at a 3.9-month supply at the current sales pace, which is down from 4.4 months a year ago.

According to Freddie Mac, the average rate for a 30-year, conventional, fixed-rate mortgage rose to 3.90% in October (matches highest rate since June) from 3.81% in September. The average loan commitment rate for all of 2016 was 3.65%.

All-cash sales were 20% of transactions in October, unchanged from September and down from 22% a year ago. Individual investors, who account for many cash sales, purchased 13% of homes in October, down from 15% last month and unchanged from a year ago.

Distressed sales5 — foreclosures and short sales — were 4% of sales in October, unchanged from last month and down from 5% year ago. Three percent of October sales were foreclosures and 1 percent were short sales.

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