Strong Market!
The Oahu real estate market doesn’t seem to have been hurt by COVID. Sales slowed in March and April but picked back up to normal levels. Island-wide, prices continue to rise. In Hawaii Kai, single family home and condo/townhome prices in the middle and lower end have continued to increase but the high end has been flat or declined slightly over the last few years. Homes are selling quickly. Interest rates are extremely low. Great time for an investment property for your retirement or that would pay for the grandchild’s college years from now.
Single Family
The top line in this chart is for the 7 “very very expensive” Hawaii Kai/Portlock neighborhoods (Koko Kai, Portlock, Triangle, Peninsula Executive Residences, Le’Olani & Napali Haweo). The second line is Marinafront homes from 9 neighborhoods. The third line is for the 12 “very expensive” neighborhoods (Mariner’s Ridge, Koko Villas, Queen’s Gate, Mariner’s Cove, Peninsula Carriageways, Anchorage, Kealaula Kai, Kai Nui, Marina West, Spinnaker Isle, Upper Hahaione Valley, West Marina and Luna Kai). The fourth line is for the 8 “expensive” neighborhoods (Laulima, Kalama Ku’u, Kalama Valley, Kamehame Ridge, Kamiloiki, Mariner’s Valley, Lower Hahaione Valley & Koko Head Terrace).
SINGLE FAMILY
NEIGHBORHOODS |
Built | Total
Homes |
Homes Sold(Fee Simple Sale Price in Thousands & Number Sold)
2017 2018 2019 2020 |
|||
Years | # | $ # | $ # | $ # | $ # | |
“very very expensive” | ||||||
Koko Kai (ocean-front) | ‘66-‘77 | 201 | 2660 5 | 2025 12 | 2905 6 | 1975 2 |
Portlock (ocean-front) | ’36-‘64 | 122 | 2650 5 | 1525 3 | 2950 5 | 2817 3 |
Triangle | ’61-‘72 | 316 | 1568 11 | 1640 16 | 1727 11 | 2490 1 |
Exec Residence Peninsula (mf) | ’01-‘02 | 27 |
|
|
|
|
Le’Olani | ’03-‘05 | 60 | 1645 4 | 1700 1 | 1585 2 | 1525 4 |
Na Pali Haweo | ’92-‘03 | 164 | 1900 9 | 1710 5 | 1415 2 |
|
sub-total (13%) | 890 | 1900 34 | 1750 37 | 2169 26 | 2099 10 | |
“very expensive” | ||||||
Koko Villas (golf course) | ’05-‘06 | 70 | 1249 7 | 1470 5 | 1575 1 | 1530 3 |
Queen’s Gate (golf course) | ’78-‘80 | 147 | 1238 8 | 1243 8 | 1075 8 | 1182 4 |
Mariner’s Cove (marina-front) | ’69-‘71 | 414 | 1150 15 | 1257 4 | 1378 11 | 1432 3 |
Carriageways Peninsula | ’02-‘03 | 69 | 1225 4 | 1285 3 | 1260 1 | 1320 1 |
Anchorage (marina-front) | ’79-‘86 | 108 | 1645 5 | 1870 3 | 1269 5 | 1550 2 |
Kealaula Kai (marina-front) | ’85-‘87 | 64 | 1500 1 | 2800 1 | 1513 3 | 1444 1 |
Mariner’s Ridge | ’72-‘86 | 429 | 1237 16 | 1278 12 | 1182 10 | 1182 2 |
Kai Nui (marina-front) | ’00-‘01 | 37 | 1225 1 |
|
1340 3 | 1455 1 |
Marina West (marina-front) | ’71-‘80 | 114 |
|
1160 3 | 1156 3 |
|
Spinnaker Isle (marina-front) | ’68-‘70 | 92 | 1300 1 | 1225 1 | 1395 3 | 1600 1 |
Hahaione Valley (upper) | ’74-‘88 | 278 | 1140 4 | 1113 11 | 1058 4 | 1115 6 |
West Marina (marina-front) | ’62-‘71 | 184 | 1400 6 | 1178 6 | 1343 5 | 1453 3 |
Luna Kai (marina-front) | ’63-‘70 | 195 | 1290 4 | 1550 2 | 1365 3 |
|
sub-total (31%) | 2201 | 1249 72 | 1285 59 | 1265 60 | 1332 27 | |
“expensive” | ||||||
Laulima (golf course) | ’86-‘88 | 115 | 1010 2 | 1200 4 | 1030 4 | 1092 3 |
Kalama Ku’u | ’01-‘02 | 17 |
|
873 2 | 911 1 |
|
Kalama Valley | ’73-‘86 | 1088 | 868 28 | 987 29 | 973 35 | 941 8 |
Kamehame Ridge | ’81-‘90 | 87 | 1114 2 | 1453 2 | 1349 2 | 1930 1 |
Kamiloiki | ’80-‘95 | 273 | 955 5 | 840 7 | 909 4 | 912 3 |
Mariner’s Valley | ’69-‘72 | 526 | 995 13 | 1060 8 | 1052 6 | 1072 4 |
Hahaione Valley (lower) | ’63-‘73 | 363 | 930 3 | 1050 7 | 1054 6 | 1070 1 |
Koko Head Terrace | ’65-‘72 | 1543 | 875 18 | 895 21 | 875 23 | 969 9 |
sub-total (56%) | 4012 | 913 71 | 989 80 | 977 81 | 1019 29 | |
{MARINA-FRONT} | {527} | {1600 13} | {1663 10} | 1574 13 | 1612 7 | |
TOTAL | 7103 | 1179 177 | 1186 176 | 1091 167 | 1175 65 |
NOTES: DAN developed this table to show all 26 Hawaii Kai single family neighborhoods: broken down by sale price into 6 “very very expensive” neighborhoods, 13 “very expensive,” and 8 “expensive;” original year built; total number of homes; and the median fee simple sale prices and number sold in 2017 to 2020 (YTD).
The 9 marina-front communities have 527 homes on the marina and 703 homes off-marina. Hawaii Kai Marina Association dues is $475 per year; for details see www.hawaiikaimarina.com. Portlock and Koko Kai have 85 ocean-front homes. The 3 golf course communities, Queen’s Gate, Laulima, and Koko Villas, have homes on & off golf course. Hahaione Valley has been broken down into two sub-groups. Upper Hahaione is generally newer and has larger lots and custom homes.
Some have association dues, as low as $19 per month on Mariner’s Ridge, up to around $400 per month at the Peninsula Executive Residences. Sewer fee is $67 per month for all Hawaii Kai single family homes. Taxes range from approximately $200 to $5000 per month, depending on size and home exemption; averaging around $300 to $400 per month.
Condo/Townhome
The top line in this chart represents Marinafront Townhome sales and includes Kuapa Isle and Koko Isle as being representative. The second line is luxury 2 bedrooms in Kalele Kai and Mount Terrace and 3 bedrooms in the Colony at the Peninsula. The third line is off-marina townhomes and includes 3+ bedrooms in Kalama Ku’u, Mariner’s Villages 1/2/3, Lalea, Moana Kai, and Nanea Kai. The fourth line is 2 bedrooms, less than 1400 square feet, in Esplanade, Colony, Plaza Hawaii Kai, Naniwa Gardens, Heritage House, Mauna Luan, and Commodore. The bottom line is 1 bedrooms in the same seven buildings.
CONDOMINIUMS & TOWNHOMES (On & Off Marina) |
Year Built | Bedrooms | Total
Homes |
Homes Sold (Fee Simple Sale Price in Thousands & Number Sold) 2017 2018 2019 2020 |
|||
Marina Front Townhomes | Year | # | # | $ # | $ # | $ # | $ # |
Koko Isle (marina-front prices) | 1968 | 2,3,4 | 124 | 1060 8 | 1050 6 | 1067 15 | 1075 4 |
Kaimala Marina | 1972 | 1-5 | 90 | 653 7 | 651 4 | 685 3 | 637 2 |
The Cottages at Peninsula | 2003 | 3,4 | 123 | 996 9 | 887 10 | 907 5 | 1100 1 |
The Villas at Peninsula | 2004 | 2,3 | 92 | 879 3 | 678 2 | 847 4 | 846 2 |
Mawaena Kai | 1988 | 2,3 | 104 | 778 6 | 935 5 | 785 3 | 785 1 |
Kalele Kai Townhomes (marina) | 1993 | 3 | 10 | 1500 1 |
|
1773 1 |
|
Kuapa Isle (marina-front prices) | 1970 | 3,4 | 234 | 1008 6 | 1000 9 | 1000 10 | 1008 2 |
Hale Makani Kai | 1996 | 3 | 9 | 825 1 |
|
900 1 |
|
Colony Marina | 1969 | 4 | 26 |
|
1100 3 | 863 3 | 936 2 |
Hawaii Kai Condo Project | 1964 | 2,3,4 | 138 | 815 2 | 845 1 | 798 3 | 810 3 |
Villa Marina | 1970 | 3 | 19 | 680 1 | 760 1 | 730 2 |
|
Marina Palms | 1966 | 2,3 | 54 | 780 1 | 665 3 | 690 2 | 620 – |
Koko Head Villas | 1969 | 2,3 | 24 | 536 4 | 560 1 | 580 1 |
|
Gateway Peninsula | 1972 | 3 | 39 | 890 5 | 1000 1 | 863 3 |
|
Moorings | 1969 | 3 | 64 | 910 6 | 888 5 | 914 2 |
|
Napua Point (ocean-front) | 1980 | 2,3 | 18 | 1190 4 | 1175 2 | 1535 2 |
|
Off Marina Townhomes | |||||||
Kalama Kuu | 2002 | 2,3,4 | 64 | 740 1 | 800 3 | 710 2 | 715 2 |
Mariner’s Village III | 1973 | 2,3,4 | 291 | 641 10 | 640 5 | 650 13 |
|
Kaluanui | 2001 | 2 | 29 | 628 2 | 718 1 | 695 1 | 689 1 |
Lalea | 1998 | 1-4 | 289 | 640 11 | 740 13 | 678 14 | 677 5 |
Moana Kai | 2005 | 2,3 | 84 | 805 5 | 844 6 | 804 4 | 859 3 |
Nanea Kai | 2003 | 2,3 | 87 | 791 2 | 741 6 | 725 4 | 715 1 |
Mariner’s Village I & II | 1972 | 2,3,4 | 74 | 617 4 | 552 4 | 544 7 |
|
Village Green | 1970 | 3,4 | 56 | 635 3 | 630 3 | – – | 662 2 |
Kawaihae Crescent (E&W) | 1973 | 3 | 121 |
|
685 3 | 681 5 | 668 3 |
Condos (Mid & High Rise) | |||||||
Kalele Kai (marina-front) | 1993 | 2,3 | 219 | 840 10 | 826 7 | 764 15 | 776 5 |
Hale Ka Lae | 2016 | 1,2,3 | 269 |
|
|
624 34 | 667 19 |
Mt Terrace | 1974 | 2 | 126 | 650 9 | 710 4 | 582 5 | 444 2 |
Colony Peninsula (marina-front) | 2005 | 1,2,3 | 319 | 638 16 | 659 21 | 669 14 | 651 3 |
Esplanade (marina-front) | 1973 | 1,2,3 | 208 | 705 4 | 669 6 | 670 11 | 643 4 |
Plaza Hawaii Kai | 1974 | 1,2,3 | 146 | 573 14 | 612 12 | 562 6 | 590 1 |
Naniwa Gardens | 1974 | 1,2 | 111 | 663 11 | 585 9 | 603 2 | 595 4 |
Heritage House | 1974 | 1,2 | 135 | 536 8 | 539 10 | – – | 629 1 |
Mauna Luan | 1975 | 1,2 | 434 | 585 20 | 570 18 | 577 20 | 578 3 |
Commodore | 1982 | 1,2,3 | 114 |
|
548 8 | 545 8 | 538 5 |
Total | 4,075 | 650 197 | 667 190 | 695 224 | 659 83 |
NOTES: DAN MADDEN developed this table to show all 36 Hawaii Kai condominiums and townhomes: 15 marina-front townhomes, 11 off-marina townhomes, and 10 high-rise or mid-rise condominiums; year built; number of bedrooms available; total number of homes; and the fee simple sale prices and number sold in 2017 to 2020 (YTD). For Kuapa Isle and Koko Isle, only fee simple marina-front sale prices are used. For the High & Mid Rise CONDOMINIUMS only two-bedroom sale prices are used. In all cases, number of sales includes all sales in the complex. Most of the marina-front communities also have off-marina homes, however, all are members of the Hawaii Kai Marina Association, pay dues of $475 per year, have marina privileges, and many have boat dock access. See website for details www.hawaiikaimarina.com.
Kalele Kai, Colony, and Esplanade are also marina-front. Napua Point is ocean-front. Monthly maintenance fee for High & Mid Rise two bedrooms ranges from a low of approximately $676 in Heritage House to a high of approximately $1,415 in Mt Terrace; for Townhome three bedrooms from a low of approximately $390 in Nanea Kai to a high of approximately $1,337 in Kalele Kai Townhomes; averaging around $750. Sewer fee is $57 per month for all Hawaii Kai condos and townhomes; some include sewer in the maintenance fee. Taxes range from approximately $125 to $600 per month, depending on size and home exemption; averaging around $175. Most communities are pet-friendly but requirements vary; see house rules and www.hawaiianhumane.org for details.
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