Michael Zimmerman just listed apartment 3203 in the Imperial Plaza Condominium for sale. 

ONLY THE VERY BEST

Imperial Plaza Condominium
725 Kapiolani Blvd. #3203
Honolulu, HI 96813
MLS #1011284

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Virtual Tour 

(more photos below)

Perched high above the city, this home offers breathtaking, unobstructed, 180 degree daytime views of rainbows, ocean, harbor, city and the Ko’olau Range.  The next show begins as sunset approaches, creating a kaleidoscope of colors that change with each cloud that is gently moved across the sky by evening trade winds.  As the sun sets into the ocean, that illusive “green flash” is occasionally observed.  For an encore, city lights begin their dazzling appearance, only to be outshined by the moon and stars shimmering across the ocean.  With TWO extremely private outdoor lanais, one is able to enjoy a front-row seat for these truly spectacular events.

The design elements of the building make it feel like a home instead of a condominium.  The apartment is laid out in a way that creates entertainment areas that are completely separated from private living areas.  10 foot ceilings allow for massive windows and expansive views with warm natural light.  Even the laundry area is tucked away, out of sight.  The quiet and private design coupled with generous amenities provide the pinnacle of condo living.

Meticulously renovated in 2005, no detail was overlooked.  This home’s functionality and aesthetics were maximized by utilizing a warm color palate, high-end stone, iridescent glass, modern lighting, top of the line appliances, beautiful flooring and luxurious custom cabinetry.

The Imperial Plaza is a gorgeous copper-colored, art-deco inspired complex that consists of The Tower and The Townhouse (residential areas) and The Galerie (commercial offices and shops).  Located in Kakaako, the Ala Moana Shopping Center, Ward Centers, Downtown, Chinatown, Restaurant Row, Aloha Tower and Waikiki are all just minutes away.  The residential lobbies are beautifully furnished, have soaring 30 foot ceilings, amazing water features and original artwork designed by a famous local artist.  The recreation deck includes swimming pool, wading pool, hot-tubs, sauna rooms, clubhouse, barbeque grills, picnic tables and a dramatic water feature.

Don’t miss your unique opportunity to own this finely crafted two bedroom condominium.

• Stunning sapphire and turquoise blue ocean views
• Spectacular views of the harbor, city and Punchbowl
• 10 foot ceilings create open and spacious feeling
• Large windows and natural light brighten each room
• Master & guest baths have full tub and standup shower
• Master suite large enough for king-sized bed
• Gorgeous laminate floors
• Three central air conditioned zones
• Both bedrooms have abundant closet space
• Plenty of in-home storage
• Huge exterior storage locker
• Living area approximately 1308 sq. ft.
• Two private lanais total approximately 212 sq. ft.
• Two covered, assigned parking stalls

Please contact Michael Zimmerman if you have a specific question or visit my Featured Properties web page to learn more about this fine home.

This information is provided as a courtesy, is not a warranty and should be independently investigated by Buyers.  This information is deemed reliable, but not guaranteed.

Summary
I find the Imperial Plaza sales trend a little troubling.  Look at the graph below and you will see just six apartments sold in the last year.  That rate is half the rate of many other Kakaako condos.  There are several floor plan choices for sale and many are located on high floors with a great view.  Five of the 13 apartments are huge (2000 sq. ft. or more) and have been on the market for a very long time.

The chart above shows the number of sales recorded each month vs. the number of apartments available for sale at the end of the month.  The number of apartments for sale has doubled in the last year.  In the last six months, Imperial Plaza averaged one sale every other month and at that pace, it will take 26 months to sell the 13 apartments listed for sale. 

The Imperial Plaza Condominium
725 Kapiolani Blvd., Honolulu, HI 96813
Built: 1991

Availability
Apartments in the building:  205
Apartments available for sale:  13
Average days on market to date:  140
Apartments listed for sale in the last 30 days:  3
Months of inventory available:  26.0

Sales
Apartments under contract in escrow:  1
Apartments sold in the last 90 days:  2
Average days on market:  15
Average price per square foot:  $521.30
Sales Price / List Price:  101%

Do you have questions about The Imperial Plaza?  If so, contact Michael Zimmerman for a no obligation consultation.  Please visit my web site to view Imperial Plaza apartments for sale or conduct your own Honolulu condo search.

Summary
As you can see in the chart below, Imperial Plaza sales have perked up since the slow winter months.  Standard size (around 1000 sq. ft.) 2-bedroom apartments have accounted for most of the recent sales.  There are no standard size 2-bedroom apartments currently on the market.  Five of the seven apartments for sale have three bedrooms and all are larger than 1200 sq. ft.  Three offer more than 2000 square feet of living space.

Imperial Plaza Listed vs. Sold

The chart above shows the number of sales recorded each month vs. the number of apartments available for sale at the end of the month.  The number of apartments for sale has fallen sharply since last fall and that’s a good thing.  In the last six months, Imperial Plaza averaged one sale per month and at that pace, it will take 7 months to sell the 7 apartments listed for sale. 

Availability
Apartments in the building:  205
Apartments available for sale:  7
Average days on market to date:  107
Apartments listed for sale in the last 30 days:  1
Months of inventory available:  7.0

Sales
Apartments under contract in escrow:  1
Apartments sold in the last 90 days:  3
Average days on market:  52
Sales Price / List Price:  99%

Do you have questions about The Imperial Plaza?  If so, contact Michael Zimmerman for a no obligation consultation.  Please visit my web site to view Imperial Plaza apartments for sale or conduct your own Honolulu condo search.

Summary
Imperial Plaza has experienced a reasonably brisk sales pace during the last six months (10 units sold in the last six months – 10% annual rate).  Nevertheless, it took 107 days, on average, for each sale.  It’s still a buyer’s market in the building because even at the higher sales rate, it will take over nine months to sell all units currently offered for sale.  There are at least 10 different floor plans available right now…so there’s a lot to choose from.

However, the number of sales may begin to fall if some sellers hold firm on their list price.  Prices are all over the place ranging from $424 to $752 per square foot.  Based on historical sales data, some asking prices may not be very realistic.  This hasn’t changed since the March 2008 report.  One thing buyers should be aware of is the maintenance fee paid per square foot is a good deal higher than that paid in comparable buildings.

The Imperial Plaza Condominium
725 Kapiolani Blvd., Honolulu, HI 96813
Built: 1991

Schools
Elementary:  Royal 
Middle:  Central
High:  McKinley

Availability
Units in the building:  205
Units available for sale:  16
Average days on market to date:  114
Units listed for sale in the last 30 days:  2
Months of inventory available:  9.6

Sales
Units under contract in escrow:  1
Units sold in the last 30 days:  1
Average days on market:  46
Sales Price / List Price:  96%

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

The Imperial Plaza Condominium

725 Kapiolani Blvd., Honolulu, HI 96813
Built: 1991

Elementary School:  Royal 
Middle School:  Central
High School:  McKinley

Summary
The Imperial Plaza has a wide range of floor plans to choose from.  The condos range from 2 bedroom/2 bath units with around 900 sq. ft all the way up to 4 bedroom/3 bath units exceeding 3000 sq. ft. of living space.  Imperial Plaza also has 32 two-story townhouse units with varying bed and bath combinations.

The number of units for sale at Imperial Plaza has nearly doubled in the last 30 days.  Normally, I would be very concerned with that many units on the market at one time, but there is a great mix of floor plans for sale.  That means one seller isn’t necessarily competing with the other 13 sellers.  Buyers have many choices, so they can pick the unit configuration that meets their needs.  Many people prefer the ‘04 unit on each floor because all of its rooms are rectangular.  Most other units have at least one triangle-shaped bedroom. 

In my opinion, there are a few units for sale on the upper floors that are grossly overpriced.  I’m talking about several hundred thousand dollars above the last recorded sale price for a comparable unit.  I have doubts that those homes would appraise near the list price.  It really makes me wonder what agents are thinking when allow their client to select a list price that bears no relation to reality.

If you are serious about selling your condominium, please contact Michael.  I will give you an honest assessment of what I believe your condo will sell for.  I will not tell you what you want to hear; I will tell you what you need to hear.  My clients deserve nothing less!

Availability
Units in the building:  205
Units available for sale:  14
Average days on market to date:  69
Units listed for sale in the last 30 days:  6
Months of inventory available:  11.2

Sales
Units under contract in escrow:  2
Units sold in the last 30 days:  3
Average days on market:  116

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