Team Kiriu Neighborhood Market Report & Maps - Q4 2023

Page 1

TEAM KIRIU

market report

TH QUARTER | OAHU 2023 4

Happy New Year!!! 2023 was a year of change. The conflicts in both the Middle East and Eastern Europe make us wonder why humans cannot get along together. Rising tensions with China remind us we are not completely immune from potential conflict. We must pray for those families affected by the ongoing military conflicts and be thankful that we live in the United States, where we are somewhat insulated from the dangers of war, at least for now. Locally, the unprecedented wildfires in Maui have resulted in unimaginable damage and suffering to the residents. The people of Maui have banded together and, with the assistance of people both within Hawaii and outside the state, have begun the healing process. Maui is such a wonderful island full of natural beauty and incredible people. Tourists will again flock to Maui for their dream island getaway, and the Maui economy will recover to be stronger than ever. The Hawaii real estate market in 2023 took one of the most dramatic turns we have seen in recent history. Fueled by the Federal Reserve’s dogged attempts to stem inflation, the 30year mortgage interest rates went from below 3% to 7.5% in a little over a year. This caused a slowdown in the number of sales as Buyers could no longer afford as much. What is interesting

OAHU REAL ESTATE MARKET STATISTICS Nov 2023 vs. Nov 2022 SINGLE-FAMILY HOMES

MEDIAN 2023 SALES 2022 PRICE CLOSED 2023 SALES 2022 MEDIAN 2023 DAYS ON 2022 MARKET ACTIVE 2023 INVENTORY 2022

4.3%

6.3%

61.1%

$1,100,055

CONDOMINIUMS

7.5%

$1,149,500

180 192

29 672 682

The higher interest rates have reduced the competition for homes, resulting in listings staying on the market longer before selling. The median days on the market for a home has increased from 18 days to 29 days, comparing November 2023 to November 2022. Similarly, condominiums have increased from 18 days to 23 days on the market. In addition to the increased days on the market for a home to sell, both homes and condominiums are selling for a higher discount to the list price in 2023 compared to 2022. The good news is that 2024 appears to be a recovery year for real estate. Most experts feel that the Federal Reserve is done increasing interest rates and may start dropping interest rates in the first half of 2024. This optimistic outlook is reflected in the significant lowering of 30-year mortgage interest rates in late November and early December of 2023. As interest rates decrease, we will see more buyers enter the market. Additionally, those homeowners who need to sell to (a) buy larger homes or (b) relocate are more likely to give up their current low-interest mortgages to buy a new home if the current interest rates are more reasonable. Thus, creating more inventory to sell as interest rates drop. Here’s to the New Year! Let’s pray that 2024 will be a year of peace for the world, healing for the people of Maui, and a return to a normal Hawaii real estate market and world economy.

$480,000

8.8%

27.8%

310 340

23 18

18

1.5%

$516,179

is that although the number of sales dropped, the sales prices stayed relatively stable. The year-to-date median sales prices for single-family homes as of November 30, 2023, dropped about 4.5% year over year to $1,060,000, while year-to-date median sales price for condominiums dropped only .3% to $508,500. Prices stayed relatively flat due to a lack of inventory to sell. When homeowners have mortgages at interest rates lower than 3%, they have very little incentive to sell.

7.5%

1,337

1,244

{SOURCE: HONOLULU BOARD OF REALTORS 2023}

MYRON KIRIU, R (808) 864-9000

SHERRIE SASAKI, RA (808) 255-7739

PROPERTY MAPS INSIDE >>


ACTIVE & SOLD PROPERTY MAP AINA HAINA • HAWAII LOA NIU VALLEY • WAILUPE KULIOUOU KALANIANAOLE HIGHWAY ACTIVE & SOLD LEGENDS ACTIVE PROPERTIES LEGEND: Property Address (Tenure) List Price - Beds/Full Baths/Half Baths Roofed Living Area / Land Area SOLD PROPERTIES LEGEND: Property Address (Tenure) - Sold Price (Sold Date) Beds/Full/Half Baths Roofed Living Area / Land Area

If your property is listed with another real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. These maps represent data compiled from public & private sources. Compiled from MLS as of December 2023. Every precaution was taken, yet errors may have occurred. Refer to current tax assessor maps for actual parcel location or dimensions. Better Homes and Gardens Real Estate Advantage Realty does not warrant, guarantee or make representations on the use of this map data, or related materials in terms of completeness, accuracy reliability or otherwise. ©2023 Better Homes and Gardens Real Estate Advantage Realty. Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Equal Opportunity Company. Equal Housing Opportunity. An Independently Owned and Operated Franchise.


SOLD

549 WEST HIND DRIVE

Sold at $1,500,000 (Represented Seller)

TEAM KIRIU

MYRON KIRIU, R (808) 864-9000

MYRONKIRIU.COM

SOLD

650 KAULANA PLACE

Sold at $2,400,000 (Represented Buyer & Seller)


ACTIVE & SOLD PROPERTY MAP KAHALA DIAMOND HEAD ACTIVE & SOLD LEGENDS ACTIVE PROPERTIES LEGEND: Property Address (Tenure) List Price - Beds/Full Baths/Half Baths Roofed Living Area / Land Area

ACTIVE

DIAMOND HEAD APTS #1204

Listed at $2,448,000 (Representing Seller)

ACTIVE

SOLD PROPERTIES LEGEND: Property Address (Tenure) - Sold Price (Sold Date) Beds/Full/Half Baths Roofed Living Area / Land Area

TEAM KIRIU MYRON KIRIU, R (808) 864-9000 MYRONKIRIU.COM

If your property is listed with another real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. These maps represent data compiled from public & private sources. Compiled from MLS as of December 2023. Every precaution was taken, yet errors may have occurred. Refer to current tax assessor maps for actual parcel location or dimensions. Better Homes and Gardens Real Estate Advantage Realty does not warrant, guarantee or make representations on the use of this map data, or related materials in terms of completeness, accuracy reliability or otherwise. ©2023 Better Homes and Gardens Real Estate Advantage Realty. Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Equal Opportunity Company. Equal Housing Opportunity. An Independently Owned and Operated Franchise.

DIAMOND HEAD APTS #1005

Listed at $3,450,000 (Representing Seller)


virtually staged

SOLD

REGENCY AT KAHALA #23C

Sold at $1,488,000 (Represented Seller)


ACTIVE & SOLD PROPERTY MAP KAIMUKI • KAPAHULU PALOLO VALLEY ACTIVE & SOLD LEGENDS ACTIVE PROPERTIES LEGEND: Property Address (Tenure) List Price - Beds/Full Baths/Half Baths Roofed Living Area / Land Area SOLD PROPERTIES LEGEND: Property Address (Tenure) - Sold Price (Sold Date) Beds/Full/Half Baths Roofed Living Area / Land Area

TEAM KIRIU MYRON KIRIU, R (808) 864-9000

LEARN MORE AT

MYRONKIRIU.COM

If your property is listed with another real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. These maps represent data compiled from public & private sources. Compiled from MLS as of December 2023. Every precaution was taken, yet errors may have occurred. Refer to current tax assessor maps for actual parcel location or dimensions. Better Homes and Gardens Real Estate Advantage Realty does not warrant, guarantee or make representations on the use of this map data, or related materials in terms of completeness, accuracy reliability or otherwise. ©2023 Better Homes and Gardens Real Estate Advantage Realty. Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Equal Opportunity Company. Equal Housing Opportunity. An Independently Owned and Operated Franchise.

ACTIVE

4171-A KILAUEA AVENUE

Listed at $1,450,000 (Representing Seller)


SOLD

4143 PAHOA AVENUE

Sold at $ 1,440,000 (Represented Seller & Buyer)


ACTIVE & SOLD PROPERTY MAP KOKO HEAD TERRACE KOKO KAI • PORTLOCK ACTIVE & SOLD LEGENDS ACTIVE PROPERTIES LEGEND: Property Address (Tenure) List Price - Beds/Full Baths/Half Baths Roofed Living Area / Land Area SOLD PROPERTIES LEGEND: Property Address (Tenure) - Sold Price (Sold Date) Beds/Full/Half Baths Roofed Living Area / Land Area

TEAM KIRIU MYRON KIRIU, R (808) 864-9000

LEARN MORE AT

MYRONKIRIU.COM

If your property is listed with another real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. These maps represent data compiled from public & private sources. Compiled from MLS as of December 2023. Every precaution was taken, yet errors may have occurred. Refer to current tax assessor maps for actual parcel location or dimensions. Better Homes and Gardens Real Estate Advantage Realty does not warrant, guarantee or make representations on the use of this map data, or related materials in terms of completeness, accuracy reliability or otherwise. ©2023 Better Homes and Gardens Real Estate Advantage Realty. Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Equal Opportunity Company. Equal Housing Opportunity. An Independently Owned and Operated Franchise.

SOLD

106 LUMAHAI STREET

Sold at $3,342,500 (Represented Seller)


SOLD

759 AIPO STREET

Sold at $1,220,000 (Represented Buyer & Seller)


ACTIVE & SOLD PROPERTY MAP MAKIKI HEIGHTS NUUANU ACTIVE & SOLD LEGENDS ACTIVE PROPERTIES LEGEND: Property Address (Tenure) List Price - Beds/Full Baths/Half Baths Roofed Living Area / Land Area SOLD PROPERTIES LEGEND: Property Address (Tenure) - Sold Price (Sold Date) Beds/Full/Half Baths Roofed Living Area / Land Area


ACTIVE

2835 ROUND TOP DRIVE

ACTIVE

2391 AINA LANI WAY

SOLD

Listed at $7,888,000 (Representing Seller)

Listed at $3,100,000 (Representing Seller)

2942 PAHOEHOE PLACE

Sold at $2,375,000 (Represented Seller)

If your property is listed with another real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. These maps represent data compiled from public & private sources. Compiled from MLS as of December 2023. Every precaution was taken, yet errors may have occurred. Refer to current tax assessor maps for actual parcel location or dimensions. Better Homes and Gardens Real Estate Advantage Realty does not warrant, guarantee or make representations on the use of this map data, or related materials in terms of completeness, accuracy reliability or otherwise. ©2023 Better Homes and Gardens Real Estate Advantage Realty. Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Equal Opportunity Company. Equal Housing Opportunity. An Independently Owned and Operated Franchise.

TEAM KIRIU MYRON KIRIU, R (808) 864-9000

LEARN MORE AT

MYRONKIRIU.COM


ACTIVE

2326 SONOMA STEET

Listed at $2,400,000 (Representing Seller)

ACTIVE & SOLD PROPERTY MAP MANOA ACTIVE & SOLD LEGENDS ACTIVE PROPERTIES LEGEND: Property Address (Tenure) List Price - Beds/Full Baths/Half Baths Roofed Living Area / Land Area

SOLD PROPERTIES LEGEND: Property Address (Tenure) - Sold Price (Sold Date) Beds/Full/Half Baths Roofed Living Area / Land Area

TEAM KIRIU MYRON KIRIU, R (808) 864-9000

LEARN MORE AT

MYRONKIRIU.COM

ACTIVE

3169 BEAUMONT WOODS PLACE Listed at $1,150,000 (Representing Seller)


If your property is listed with another real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. These maps represent data compiled from public & private sources. Compiled from MLS as of December 2023. Every precaution was taken, yet errors may have occurred. Refer to current tax assessor maps for actual parcel location or dimensions. Better Homes and Gardens Real Estate Advantage Realty does not warrant, guarantee or make representations on the use of this map data, or related materials in terms of completeness, accuracy reliability or otherwise. ©2023 Better Homes and Gardens Real Estate Advantage Realty. Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Equal Opportunity Company. Equal Housing Opportunity. An Independently Owned and Operated Franchise.

SOLD

3401 PATY DRIVE

Sold at $1,770,000 (Represented Seller)


ACTIVE & SOLD PROPERTY MAP WEST MARINA MARINERS RIDGE HAHAIONE VALLEY ACTIVE & SOLD LEGENDS ACTIVE PROPERTIES LEGEND: Property Address (Tenure) List Price - Beds/Full Baths/Half Baths Roofed Living Area / Land Area SOLD PROPERTIES LEGEND: Property Address (Tenure) - Sold Price (Sold Date) Beds/Full/Half Baths Roofed Living Area / Land Area

TEAM KIRIU MYRON KIRIU, R (808) 864-9000

LEARN MORE AT

MYRONKIRIU.COM

If your property is listed with another real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. These maps represent data compiled from public & private sources. Compiled from MLS as of December 2023. Every precaution was taken, yet errors may have occurred. Refer to current tax assessor maps for actual parcel location or dimensions. Better Homes and Gardens Real Estate Advantage Realty does not warrant, guarantee or make representations on the use of this map data, or related materials in terms of completeness, accuracy reliability or otherwise. ©2023 Better Homes and Gardens Real Estate Advantage Realty. Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Equal Opportunity Company. Equal Housing Opportunity. An Independently Owned and Operated Franchise.


JUST LISTED

SOLD

1059 KAMOOKOA PLACE Co-Listed with Jeff Char & Taryn Loo (R) Offered at $1,638,000 (Representing Seller)

MT. TERRACE #1A

Sold at $925,000 (Represented Buyer & Seller)

SOLD

MAWAENA KAI #J11

SOLD

1045 KUEKUE STREET

Sold at $1,210,000 (Represented Seller)

Sold at $2,379,000 (Represented Buyer)


ACTIVE & SOLD PROPERTY MAP MARINERS COVE KALAMA VALLEY MARINERS VALLEY ACTIVE & SOLD LEGENDS ACTIVE PROPERTIES LEGEND: Property Address (Tenure) List Price - Beds/Full Baths/Half Baths Roofed Living Area / Land Area SOLD PROPERTIES LEGEND: Property Address (Tenure) - Sold Price (Sold Date) Beds/Full/Half Baths Roofed Living Area / Land Area

LEARN MORE AT

MYRONKIRIU.COM

SOLD

7531 ONINI PLACE

Sold at $1,234,000 (Represented Buyer)


SOLD

1045 KUEKUE STREET

SOLD

1023 KOKO KAI PLACE

Sold at $2,379,000 (Represented Buyer)

Sold at $2,388,000 (Represented Seller)

TEAM KIRIU MYRON KIRIU, R (808) 864-9000 If your property is listed with another real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. These maps represent data compiled from public & private sources. Compiled from MLS as of December 2023. Every precaution was taken, yet errors may have occurred. Refer to current tax assessor maps for actual parcel location or dimensions. Better Homes and Gardens Real Estate Advantage Realty does not warrant, guarantee or make representations on the use of this map data, or related materials in terms of completeness, accuracy reliability or otherwise. ©2023 Better Homes and Gardens Real Estate Advantage Realty. Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Equal Opportunity Company. Equal Housing Opportunity. An Independently Owned and Operated Franchise.


ACTIVE & SOLD PROPERTY MAP WAIALAE NUI RIDGE WAIALAE NUI VALLEY WAIALAE IKI RIDGE

ACTIVE & SOLD LEGENDS ACTIVE PROPERTIES LEGEND: Property Address (Tenure) List Price - Beds/Full Baths/Half Baths Roofed Living Area / Land Area SOLD PROPERTIES LEGEND: Property Address (Tenure) - Sold Price (Sold Date) Beds/Full/Half Baths Roofed Living Area / Land Area

TEAM KIRIU MYRON KIRIU, R (808) 864-9000

LEARN MORE AT

MYRONKIRIU.COM

If your property is listed with another real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. These maps represent data compiled from public & private sources. Compiled from MLS as of December 2023. Every precaution was taken, yet errors may have occurred. Refer to current tax assessor maps for actual parcel location or dimensions. Better Homes and Gardens Real Estate Advantage Realty does not warrant, guarantee or make representations on the use of this map data, or related materials in terms of completeness, accuracy reliability or otherwise. ©2023 Better Homes and Gardens Real Estate Advantage Realty. Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Equal Opportunity Company. Equal Housing Opportunity. An Independently Owned and Operated Franchise.

ACTIVE

5287 POOLA STREET

Listed at $1,800,000 (Representing Seller)


ACTIVE

SOLD

5119 PALAOLE PLACE

Listed at $2,950,000 (Representing Seller)

1434 IHILOA STREET

Sold at $2,325,000 (Represented Seller)


ACTIVE & SOLD PROPERTY MAP ST. LOUIS HEIGHTS WILHELMINA RISE ACTIVE & SOLD LEGENDS ACTIVE PROPERTIES LEGEND: Property Address (Tenure) List Price - Beds/Full Baths/Half Baths Roofed Living Area / Land Area SOLD PROPERTIES LEGEND: Property Address (Tenure) - Sold Price (Sold Date) Beds/Full/Half Baths Roofed Living Area / Land Area

SOLD

1607 ALENCASTRE STREET

Sold at $960,000 (Represented Seller)


SOLD

1554 KANALUI STREET

Sold at $1,960,000 (Represented Seller)

TEAM KIRIU MYRON KIRIU, R (808) 864-9000

LEARN MORE AT

MYRONKIRIU.COM

If your property is listed with another real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. These maps represent data compiled from public & private sources. Compiled from MLS as of December 2023. Every precaution was taken, yet errors may have occurred. Refer to current tax assessor maps for actual parcel location or dimensions. Better Homes and Gardens Real Estate Advantage Realty does not warrant, guarantee or make representations on the use of this map data, or related materials in terms of completeness, accuracy reliability or otherwise. ©2023 Better Homes and Gardens Real Estate Advantage Realty. Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Equal Opportunity Company. Equal Housing Opportunity. An Independently Owned and Operated Franchise.


Better Homes and Gardens Real Estate Advantage Realty BHGRE Advantage Realty, LLC. Kahala Mall, Upper Level 4211 Waialae Avenue, Box 9050 | Honolulu, HI 96816

MYRONKIRIU.COM

MEET TEAM KIRIU

MARY MARTIN TRISHA KAGAWA GRACE H. MIRZA

RA | RS-61523 Executive Associate

MYRON & AMBUR KIRIU

SHERRIE SASAKI

Brokerage Owner, CEO, Realtor | RB-17242 Brokerage Owner, VP Public Relations*

Realtor-Associate, JD | RS-74829 Director of Team Kiriu Operations

MyronK@betterhawaii.com

SherrieS@betterhawaii.com

808.864.9000

CARLEE HIRANO RA | RS-85138 Digital Marketing Specialist

RA | RS-80452 Listing Specialist

ERIKA NGO

RA | RS-85120 Buyers Specialist

RA | RS-81233 Listing Specialist

Bilingual English/Korean

GRACE ONG

RA | RS-81336 Escrow Specialist

MAKIKO BLUMKE RA | RS-80681 Client Relations Specialist

Bilingual English/Cantonese Bilingual English/Japanese

SLAYDE OMURA HUNTER NAKAMA RA | RS-79927 Buyers Specialist

Escrow Specialist

808.255.7739

#1 TEAM NATIONWIDE BETTER HOMES AND GARDENS REAL ESTATE 6 YEARS IN A ROW!

*Advantage Realty, LLC, Realtor | RB-20499

This map is provided as a courtesy to you to help you understand the value of your property. If you no longer wish to receive these mailers, please contact Carlee Hirano at 808-738-3600 or CarleeH@betterhawaii.com, Better Homes and Gardens® is a registered trademark of Meredith Corporation licensed to Better Homes and Gardens Real Estate LLC. Equal Opportunity Company. Equal Housing Opportunity. An Independently Owned and Operated Franchise. If your property is listed with another real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. ©2024 Better Homes and Gardens Real Estate Advantage Realty.

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located inside ten43studio directly across Palama Supermarket on Makaloa Street expires 03.31.24 - not valid with other specials

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One order of Crispy Spring Rolls with purchase of $70 or one tapioca pudding with purchase of $50.

Also, Groceries For Sale Valid on take-out orders only. Must present coupon at purchase. One coupon per customer. Other restrictions may apply. Offer expires 2/29/24.

Please contact each company directly for answers to questions regarding their offers, products and services. These coupons are being provided as a convenience and are for informational purposes only; they do not constitute an official or personal endorsement or an approval by Myron Kiriu and Better Homes and Gardens Real Estate Advantage Realty of any of the products, services or opinions of the corporation or organization or individual, and Myron Kiriu and Better Homes and Gardens Real Estate Advantage Realty were not compensated for their placement or promotion.


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