11/9/2023Trump Tower Waikiki will soon come under new management and is expected - starting February 2024 - to operate under the name of Wakea Waikiki Beach and be part of Hilton's LXR Hotels & Resorts, which is a small group of hand-selected luxury hotels.
9/30/2023Sky Ala Moana West (residential tower) has 3 scheduled bulk closing rounds: Oct 12, 18 & 24. Renaissance Residences (Sky Ala Moana East) has all units scheduled to record December 11th and the Renaissance Hotel is scheduled to open January 2024.
9/15/2023Launiu, ultra-luxury condo, coming soon. Register your interest.
Remaining inventory in Kuilei Place - market rate units - range in price from $671,000 to $1,275,000 across 1, 2 and 3 bedroom units. There are also some affordable units available ranging in price from $680,000 to $813,000 across 2 and 3 bedroom units.
9/8/2023Ililani is on track for March 2024 completion and currently 97% of the units are sold.
9/8/2023Alia construction site is under preparation and official ground breaking is expected in the very near future.
DPP's median processing time for a building permit application is close to 200 days. The City has a Bill out, which, if passed, would allow the DPP to increase the use 3rd parties to help review applications to speed up the process (source: Honolulu Star-Advertiser).
Honolulu's City Council is debating whether owners of 'monster' homes, built without appropriate building permits, should be forced to demolish such homes.
More homeowners, in default on their mortgage, may qualify to modify their 30 year mortgage to a 40 year term in order to reduce the monthly payments and increase the likelihood of being able to stay in their home.
1BR - 3BR condos are now offered at Nahele at Hoopili for owner-occupants only.
Progress on Ward Village's Auahi St sidewalk widening project, which will include just 1 car lane in either direction, dedicated bike lanes and inviting green landscaping.
The Office of Hawaiian Affairs has reportedly rejected Hawaii State's $165M proposal to eliminate the possibility of building highrises on land they own, oceanside of Ala Moana Blvd in Kakaako (since 2006 there has been a ban on residential developments on this land).
Hawaii State has reportedly offered $165M to the Office of Hawaiian Affairs to keep highrises from never being built on land they own in Kakaako on the oceanside of Ala Moana Blvd.
The DPP has, reportedly, hired a collection agency - Aargon - to help crack down on illegal vacation rentals.
3/27/2023Kuilei Place affordable housing application deadline is April 16th.
Only 6 homes left at Hooulu, a neighborhood within Hoopili, starting at $842K for a 3BR home with 1,132 sf.
3/7/2023The Flats at Sky Ala Moana (affordable housing units) now offers some units with reduced restrictions periods and no shared equity.
Oahu real estate price trends - click here for details.
Bill 4 proposes that the residentially zoned properties on Oahu that may legally run short-term rentals, e.g. Waikiki Banyan, Waikiki Sunset, and all NUC properties, will pay a higher property tax rate than the current residential rate. The new rate is expected to be less than the Hotel Resort tax rate (currently 1.39% of assessed value), which is the rate for legal short-term rental properties within the Hotel Resort zone, e.g. Ilikai, Waikiki Shore. etc. When the Bill becomes law, it might take effect July 2024 at the earliest.
The average 30 year US mortgage rate is at 6.65% - a year ago it was 3.76%.
The Alia owner-occupant round is almost done, which means the remaining inventory becomes unrestricted (anyone can purchase).
Shoreline setback requirements for oceanfront developments on Oahu are currently 40 ft from the high watermark. Starting July 2024 this will increase to between 60 to 130 ft (Bill 41 & 42), subject to Honolulu's Mayor signing the Bills in to law.
1/27/2023Alia owner-occupant sales starts tomorrow, Jan 28th.
1/23/2023Alia is a new luxury condo coming to Kakaako. Reach out to learn more.
It appears the City has decided property owners who are allowed to run short-term rentals must register their units here if a building's original permits were for anything but a hotel. If a building's original permits were for a hotel, then no need to register.
Owner's of legal short-term rentals in the County of Honolulu (Oahu) must register their unit(s) with the City on this website - exceptions are NUC holders, Hotels and Timeshare units. Read more details here.
10/27/2022Kalae owner-occupant sales (165 units) will begin tomorrow, Friday, 9am, and prospects or their agents may start lining up now at the Ward Village sales office.
A preliminary injunction was granted by a judge, which prevents the City from implementing the ordinance that would change min rental terms, for most Oahu properties, from 30 to 90 days - read more here.
9/26/2022Kalae, a new ultra-luxury Ward Village condo project, sales gallery is now open.
9/21/2022Koula - luxury condo in Ward Village - is completed and the first owners are moving in.
During the 9.7.2022 court hearing to challenge Bill 41’s 90-day rule, Judge Watson instructed both parties to meet with U.S. Magistrate Judge Rom Trader and work out a resolution by 10.23.2022. - Bill 41 updates here.
Alia, a new luxury condo to be developed in Kakaako, is expected to start sales Q4 2022.
Bill 41 has been legally challenged. For now, Bill 41's enforcement date has been pushed back to 4.23.2023. Updates here.
The State has a plan for developing around the Ala Wai Small Boat Harbor - read more here.
6/17/2022Ritz-Carlton Waikiki is planning to remodel all units in the hotel rental program in the fall of 2023.
5/26/2022Bill 41 - An overview of important aspects of this Bill (concerns Oahu short-term renting rules).
5/17/2022Cottages at Mauna Olu is a unique community of single-family homes on Oahu's west coast. Unique in that the project allows for short-term vacation renting.
5/17/2022Hawaii Legal Short-Term Rental Alliance has reportedly engaged an attorney to initiate legal action against the City & County of Honolulu for changing the minmium legal rental term, required per tenant, from 30 days to 90 days, for most residential properties / neighborhoods.
Oahu's real estate price trends - click here for details.
An elevated pedestrian walking path above Ala Moana Blvd (between Kamakee and Ward Ave - click here and see page 11) is expected to start construction May 2, 2022 with an anticpated completed late 2023.
Don't forget the new OTAT tax, levied on rental income for Oahu properties - read more here.
Developer files documents to develop Ala Moana Plaza; a 40 story condo at 451 Piikoi St - read more here.
Honolulu City Council approves Bill 41, which will increase the minimum rental terms for most properties on Oahu, from their current 30 days to 90 days, if signed into law by Honolulu's mayor - read more here.