MediaLive 2006
Island of Oahu.
The median selling price of homes increased 5.4% this past month. ("median" means half the properties sold above the median price and half below.) For the month of May 2010 there were 284 home sales (32% more than in May 2009) at a median price of $606,000 (up from $542,000 in May 2009). There were 355 condo sales (36% more than in May 2009) at a median price of $312,500 (up from $300,000 in May 2009). During the current year the number of home and condo sales have been steadily increasing and selling prices are steady. In important factor is the very low mortgage rates currently at 4.5% for a 30 year fixed mortgage.
The median selling price of homes increased 5.4% this past month. ("median" means half the properties sold above the median price and half below.) For the month of May 2010 there were 284 home sales (32% more than in May 2009) at a median price of $606,000 (up from $542,000 in May 2009). There were 355 condo sales (36% more than in May 2009) at a median price of $312,500 (up from $300,000 in May 2009). During the current year the number of home and condo sales have been steadily increasing and selling prices are steady. In important factor is the very low mortgage rates currently at 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 $450,000. 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 $1,199,000 for a modest home on a small lot to $24,000,000 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 January 8, 2010
