Summary
Moana Pacific sales have been plentiful, despite the fact that the number of 2008 Oahu home sales are lower than the number of sales recorded in 2007.  Curiously, as I write, there is just one 1-bedroom unit for sale.  On the other hand, there are several high floor, 3-bedroom units for sale.  There’s a little something for everybody at Moana Pacific and if you price your home right, it will sell quickly.  15 of the 29 condos for sale have been on the market over 100 days, which tells me the sellers have not fully grasped the market’s message.  Specific sales statistics are listed below.

Moana Pacific Condominium
1288-1296 Kapiolani Blvd., Honolulu, HI 96814
Built:  2007

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

Location
Conveniently located a few blocks from the Ala Moana Shopping Center and the new Nordstrom store located on Kapiolani Blvd.

Feature
Co-located with the Honolulu Design Center, Stage Restaurant and Amuse Wine Bar.

Availability
Units in the building:  760
Units available for sale:  29
Average days on market to date:  113
Units listed for sale in the last 30 days:  2
Months of inventory available:  5.1

Sales
Units under contract in escrow:  8
Units sold in the last 30 days:  6
Average days on market:  89
Sales Price / List Price:  96%

What else would you like to know about sales activity at Moana Pacific?  Please visit my web site to view Moana Pacific units for sale or conduct your own Honolulu home search.  If you’re thinking of selling your home and don’t want to wait six months for a sale, contact Michael Zimmerman for a no obligation consultation.

Summary
Moana Pacific sales are still strong despite the fact that several units are listed significantly above market price.  18 units sold in the first quarter of 2008.  Two of these sales were initial sales by the developer.  Of the 36 units for sale, there is a great mix of one, two and three-bedroom floor plans, evenly spread from low to high floors.  12 of these units have been on the market over 100 days, presenting an opportunity for patient buyers.  The last five units sold at an average of 98% of their list price.  Specific sales statistics are listed below.

Moana Pacific Condominium
1288-1296 Kapiolani Blvd., Honolulu, HI 96814
Built:  2007

Schools
Elementary:  Kaahumanu
Middle:  Central
High:  McKinley

Location
Conveniently located a few blocks from the Ala Moana Shopping Center and the new Nordstrom store located at 1519 Kapiolani Blvd.

Feature
Co-located with the Honolulu Design Center, Stage Restaurant and Amuse Wine Bar.

Availability
Units in the building:  760
Units available for sale:  36
Average days on market to date:  90
Units listed for sale in the last 30 days:  10
Months of inventory available:  5.1

Sales
Units under contract in escrow:  6
Units sold in the last 30 days:  5
Average days on market:  50

What else would you like to know about sales activity at Moana Pacific?  Please visit my web site to view Moana Pacific units for sale or conduct your own Honolulu home search.  If you’re thinking of selling your home and don’t want to wait six months for a sale, contact Michael Zimmerman for a no obligation consultation.

Here is yet another example where the seller and/or the seller’s agent did not listen to what the market was saying.  If you are selling your property, don’t make the same mistake.

Property:  Moana Pacific
1296 Kapiolani Blvd. #3303, Honolulu, HI 96814

Total days on the market:  296
Sold at 84.6% of original list price

There is so much we should learn from this sale:

1.  Sellers should carefully select a competent agent who isn’t afraid to arm them with the truth.  Knowledge is power and I’ll help you select a reasonable sales price.

2.  Choose your listing price wisely.

3.  If your home isn’t in escrow within 3-4 weeks, it’s over priced.

4.  The longer your home languishes on the market, the more power you transfer to the buyer.

5.  If you truly want or need to sell your home, do it right by setting a realistic price.  Contact Michael Zimmerman for help.  I like to do things right the first time.

Moana Pacific Condominium

1288-1296 Kapiolani Blvd., Honolulu, HI 96814
Built:  2007

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

Feature
Co-located with the Honolulu Design Center, Stage Restaurant and Amuse Wine Bar.

Summary
Moana Pacific re-sales have been robust since the building opened a year ago (10% of original owners have sold their unit), but the pace is slowing to a healthier level.  The developer is slowly selling a few units held in its inventory.  In addition, a large number of units have recently come on the market as owners reached the required one year holding period. 

Here’s a quick breakdown of 73 unit resales from April 2007 to February 2008:
East Tower - 33
West Tower - 40
‘01 units - 10
‘02 and ‘09 units - 14
‘03 and ‘08 units - 14
‘04 and ‘07 units - 16
‘05 and ‘06 units - 19

It comes as no surprise, several units are listed significantly above market price.  It’s no wonder 9 units have been on the market greater than 100 days.  Over pricing leads to a large supply and there isn’t enough buyer demand, so the units remain on market much longer.  At the current sales rate, it will take 6.6 months to sell all units currently listed for sale.  Improper pricing forced some owners to wait well over 200 days for a sale.

Availability
Units in the building:  760
Units available for sale:  33
Average days on market to date:  75
Units listed for sale in the last 30 days:  11
Months of inventory available:  6.6

Sales
Units under contract in escrow:  9
Units sold in the last 30 days:  6
Average days on market:  76 

What else would you like to know about Moana Pacific?  Please visit my web site to view Moana Pacific units for sale or conduct your own Honolulu home search.  If you’re thinking of selling your home and don’t want to wait six months for a sale, contact Michael Zimmerman for a no obligation consultation.