Summary
The sales pace at Hokua slowed since my last report.  At the current sales rate, it would take over 11 months to sell all units offered for sale and that assumes sellers move their asking price closer to the price buyers are willing to pay.  11 of 15 units for sale have been on and off the market for more than 90 days (three units have been on the market more than 300 days).  Several owners have shaved hundreds of thousands of dollars off their price and they may have to do more to attract a buyer.  The single unit sold in the last 30 days went for just 71% of its list price.  This is a clear indication of overpricing.  Specific sales statistics are below.

Hokua at 1288 Ala Moana Condominium
1288 Ala Moana Blvd., Honolulu, HI 96814
Built:  2006

Schools
Elementary:  Kaahumanu
Middle:  Central
High:  McKinley

Location
Conveniently located one block from Ward Centers and the Whole Foods Market currently under construction.  Just a few blocks from the Ala Moana Shopping Center and the new Nordstrom store located at 1519 Kapiolani Blvd.

Features
P.F. Chang’s China Bistro, Starbucks and the Tango restaurant are all located on the bottom floor. 

Availability
Units in the building:  246
Units available for sale:  15
Average days on market to date:  137
Units listed for sale in the last 30 days:  4
Months of inventory available:  11.3

Sales
Units under contract in escrow:  2
Units sold in the last 30 days:  1
Average days on market:  212
Sales Price / List Price:  71.3%

Do you have questions about Hokua at 1288 Ala Moana?  If so, contact Michael Zimmerman for a no obligation consultation.  Please visit my web site to view Hokua units for sale or conduct your own Honolulu home search.

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