Great Value Hawaii Luxury Real Estate
Welcome to the Spring 2020 Great Value Hawaii Luxury Real Estate section featuring both Homes & Condos which we think offer especially great value for potential Buyers. Presently most of the luxury home and condo neighborhoods on Oahu are experiencing Buyers’ Markets (defined as having more than 5 to 6 months of inventory currently on the market) with average inventory levels at 17 months for luxury homes over $1.9M (exactly the same as last year) and 8.3 months for condos over $700K (see Latest Oahu Hawaii Real Estate Statistics). Prices are somewhat decreasing for upper end homes (final sales prices for luxury homes are on average approximately 7% less than the last listed MLS asking prices) and upscale condos – especially in the $1M plus range – have been suffering from an over-supply in some areas making it a great time for Buyers to find great value luxury properties in general. In this month’s Great Value Luxury we will showcase both a beautifully remodeled Modern Style A-Frame home in Upper Manoa Woodlawn Neighborhood and a one bedroom condo on the 27th floor of the Ae’o Building in the prestigious Ward Village – both with great value asking prices and rental income potential.
The first property we showcase is a semi-luxury home in the Upper Manoa Woodlawn neighborhood, listed by Amanda Uchida – Sachi Hawaii, on the ultra quiet and exclusive Anoai Place. Originally built in 1972, it was extensively remodeled in 2019. Nestled in a dreamscape-like canopy of lush trees and green foliage, it features a 3 story layout with sweeping panoramic Ocean and Mountain views. As of this writing there is very little inventory on the market in this neighborhood and over last 2 years the average DOM (days on market) has been only 31 days – semi-luxury homes here sell fairly quickly.
Value Features:
- Priced at $1,298,000 – offers great value for a 5 bedroom home.
- Stunning Ocean and Mountain views and a 3 story layout.
- Fuses A-Frame island-style architecture with a unique moderness.
- Spacious with a total of 2,466 SQF of living area including a 462 SQF lanai in a tropical dreamscape-like canopy of trees.
- Features engineered luxury vinyl flooring and quartz countertops.
- Has separate entrances making it multiple tenant ready, current gross rent is $6,250 per month.
- The home has stunning curb appeal in an overlooking-the-ocean and town setting.
- Nearby access to trails and hiking parks while being within a few minutes drive to town.
This polished diamond of a semi-luxury home in the entry-level luxury home neighborhood of Manoa Woodlawn is great value with excellent rental income potential. Great Luxury Value for the discerning Buyer!
The second property showcased here, listed by Damon Rhys & Yoshiko Kasuga – Sachi Hawaii, is a rare 1 bedroom high floor unit in Ward Village’s prestigious Ae’o building – unit 2708 recently built in 2018. This unit is situated in the favored “08” stack which is the only 1 bedroom floor plan on the desired Diamond Head side of the building. Enjoy spectacular Magic Island, Ala Moana Beach Park and turquoise ocean views. It has a spacious 650 SQF open floor plan with a special levered tempered glass door facing the ocean and allowing fresh and natural ocean breezes to flow thru the unit. Ae’o features resort-style amenities while having direct access to Whole Foods with restaurant & entertainment options nearby and throughout Ward Village. The seller is motivated and the asking price for this modern unit is $900,000 down from $995,000 making it quite a bargain. This 1 bedroom unit offers fantastic value in today’s luxury condominium market.
Value Features:
- Priced at only $900K (down from $995K) for this rare 1 bedroom unit on the desired Diamond Head side of Ae’o, it offers fantastic value.
- Sweeping Magic Island, Ala Moana Beach Park and turquoise ocean views.
- Spacious total 650 SQF living space, comfortable size for a 1 bedroom.
- Unit is located in the ultra modern Ae’o building in the prestigious Ward Village.
- Maintenance fee which is $652 works out to be only $1 per SQF.
- Security with Fob Keyed elevator access only.
- Direct access to Whole Foods with a plethora of dining and entertainment options nearby.
- First rate resort-style amenities include Pool, Jacuzzi, BBQ, Exercise Room, Meeting Room, Recreation Room & Children Play Area.
Please do not miss out on this great opportunity to own this gem of a 1 bedroom now priced to sell at only $900K, down from $995K. Its current price offers great value – in today’s luxury condo market.
If you would like to know more about these properties please contact me (Damon Rhys) for more information. Disclosure: Some properties in this section may be listed by the brokerage firm I work with, Sachi Hawaii. My goal is to give my unbiased opinion on great value Hawaii Real Estate for all brokerage firms on Oahu. In this month the two featured properties here are listed by Damon Rhys, Sachi Hawaii.
Please check out this site’s easy to use Search Tool to find current listings of Hawaii Real Estate now on the market. Homes for sale in Oahu and Condos for sale in Honolulu (Waikiki, Ala Moana, Kakaako, Hawaii Kai etc.) can all be found here using the Hawaii Condo Search or Hawaii Home Search tools.
Aloha!
Damon Rhys
*Disclaimer: Any opinions expressed in this newsletter are that of Damon Rhys only and do not necessarily reflect the views of his brokerage firm, Sachi Hawaii Pacific Century Properties. Though knowledgeable including Management Science / Quantitative Economic Decision Science & Master (MPIA) Degrees from the University of California, Damon Rhys is a licensed Realtor in the state of Hawaii. He is not a licensed Financial Advisor. For any specific investment decisions, it is advised that one consults with a licensed financial advisor.