MediaLive 2006
Island of Oahu .
For the the month of May 2011 the number of home sales decreased by 15.3% and the number of condo sales decreased by 10.3% compared to May 2010. Again compared to May 2010 the median selling price of homes at $595,000 decreased by 0.8% (but at a 7 month high) and the median selling price of condos at $290,000 decreased by 4.9%. Mortgage rates remain at an incredibly low 4.5% for a 30 year fixed mortgage.
For the the month of May 2011 the number of home sales decreased by 15.3% and the number of condo sales decreased by 10.3% compared to May 2010. Again compared to May 2010 the median selling price of homes at $595,000 decreased by 0.8% (but at a 7 month high) and the median selling price of condos at $290,000 decreased by 4.9%. Mortgage rates remain at an incredibly low 4.5% for a 30 year fixed mortgage.
Kailua and Kaneohe.
These two small towns are located on the windward side of Oahu away from Honolulu. Wind and rain directly from the ocean make them pleasantly cooler and the vegetation more lush. People who live there love the friendly, rural atmosphere. From these towns it takes 30 to 45 minutes to drive to Honolulu. Home prices here are more modest than those in Honolulu. You can find nice townhouses/condos there for under $300,000.
Kapolei. A very exciting development is the newly formed city of Kapolei which is about 45 minutes drive from Honolulu in leeward Oahu. It is well laid out with wide streets and beautiful parks. State of the art telecommunications facilities are available within the city. The population is currently about 85,000 and 450 businesses are located there. It has its own City Hall and many city and state offices have been moved to Kapolei. Newer homes can be purchased there for under $600,000. For more information go to: City of Kapolei
Kahala.
This area in East Honolulu is world famous for its beautiful homes and beach front estates. Asking prices for homes for sale range from $999,999 for a modest home on a small lot to $32,500,000 for a magnificent beach front estate on Kahala Ave. For more information about home sales in this area go to Helena's Kahala Newsletter published quarterly.
THE PRICE OF PARADISE
The Cost of Housing in Hawaii
Updated April 2011
