Two Diamond Head and Kahala Homes Realize High Appreciation

There are two homes that recently sold on the boarder of Diamond Head and Kahala that have had tremendous appreciation compared to the rest of Oahu and the nation for that matter.

1. 3939 Kahala Ave. just closed today at $3,150,000. It last sold January 23, 2008 for $2,340,000 for an appreciation of 34.6% over 2 years or 17.3% annualized return.
2. 4322 Kahala Ave. also just sold on 1/26/2010 for $3,500,000. It last sold for $2,600,000 on July 25, 2008 for an appreciation of 42.3% over 1.5 years or 28.2% annualized return.

These aren’t bad returns considering the economy and other investment vehicles. The stock market is still volatile, everyone is running to gold and how soon we forget how real estate can be a great asset class to invest in 🙂

If you’re looking for some well price homes near these, here’s a few:

• 4320 Papu Circle is available at $1,995,000
• 3866 Nikolo St. is available for $1,495,000
• 4054 Kulamanu St. is available for $1,495,000

One wild guess why these have gone up while other areas of the island have gone down? Location, location, location….

View my favorite Oahu luxury homes.