March 2009 Hawaiki Tower Condominium Market Report Honolulu

March 20th, 2009 Michael Zimmerman Posted in Hawaiki Tower, Market Reports | Comments Off

Summary
If you’ve been complaining about high maintenance fees in your condo or buildings you’ve been considering, Hawaiki Tower may be just what you’re looking for. As I explained in my 2009 Honolulu Condominium Maintenance Fee Comparison report, Hawaiki has the lowest maintenance fee per square foot of the Kakaako condos I follow.

A wide array of apartments are at your disposal; high floors, low floors, breathtaking ocean views and mauka views all await you. As I write, there are no 1-bedroom apartments for sale, but two 3-bedroom, 2.5-bath condos have been on the market over 200 days. The owners have aggressively reduced their prices, but have yet to attract the right buyers. If you’re interested, please call me at 808-457-9683.

The chart below shows the number of sales recorded each month vs. the number of apartments available for sale at the end of each month. As you can see, the number of apartments for sale exploded over the past year. In the last six months, Hawaiki Tower averaged just one sale every two months and if that pace continues, it will take 28 months to sell the 14 apartments currently available.

Hawaiki Tower Listings vs. Sales

Hawaiki Tower Condominium
88 Piikoi Street, Honolulu, HI 96814
Built: 1999

Schools
Elementary School: Kaahumanu
Middle School: Central
High School: McKinley

Features
Conveniently located across the street from the Ala Moana Shopping Center and one block from Ala Moana Beach Park. Just blocks away from the Nordstrom store located on Kapiolani Blvd.

Availability
Apartments in the building: 422
Apartments available for sale: 14
Average days on market to date: 152
Apartments listed for sale in the last 30 days: 0
Months of inventory available: 28

Sales
Apartments under contract in escrow: 0
Apartments sold in the last 90 days: 0
Average days on market: N/A
Sales Price / List Price: N/A

Contact Michael Zimmerman if you have a specific question about Hawaiki Tower. Please visit my web site to view Hawaiki units for sale, conduct your own customized Honolulu home search or request special reports for home buyers or sellers.