Summary
Sales have been steady at One Waterfront Towers during the last seven months, but unlike other Kakaako condominiums, the inventory here has not declined.  Instead, it has increased.  The main objection owners and buyers share is the size of the maintenance fees and that a special assessment continues.   

Many apartments are for sale, so buyers have lots of choices.  1- and 2-bedroom condos spread from low to high floors, but some of the asking prices are impractical and are not supported by recent sales.  For buyers financing their purchase, it may be very difficult to obtain an appraisal that supports these prices.

One Waterfront Towers Condominium
415-425 South Street, Honolulu, HI 96813
Built: 1989

Schools
Elementary:  Royal
Middle:  Central
High:  McKinley 

Features
Located right next to Restaurant Row which includes Ruth’s Chris Steak House and it’s just steps away from Kakaako Waterfront Park. 

Availability
Apartments in the building:  302
Apartments available for sale:  16
Average days on market to date:  130
Apartments listed for sale in the last 30 days:  1
Months of inventory available:  9.6 

Sales
Apartments under contract in escrow:  1
Apartments sold in the last 90 days:  2
Average days on market:  184
Average price per square foot:  $547.49
Sales Price / List Price:  96%

What else would you like to know about One Waterfront Towers?  Please visit my web site to view One Waterfront Towers apartments for sale, request free reports for buyers or sellers or conduct your own Honolulu condo search.  If you’re thinking of selling your home, contact Michael Zimmerman for a no obligation consultation.

Michael Zimmerman just sold the One Waterfront Towers condominium with this stunning view after receiving several offers.

Sold for $505,000 Fee Simple

Two words:  SIMPLY SENSATIONAL

One Waterfront Towers Condominium
425 South Street Mauka/2302
Honolulu, HI 96813
MLS #2913492

View the 4-page Home Brochure

Relax and enjoy stunning sapphire and turquoise blue ocean views from this serene, elegant home.  The private lanai is perfect for entertaining your guests, unwinding while reading or enjoying the evening sunset.  The impeccable apartment features a wide range of upgrades and is ready for immediate move in.

This magnificent apartment is in impeccable condition and features several upgrades such as granite countertops in the kitchen and bathroom, refreshed kitchen appliances, front loading washer and dryer, enclosed shower, tiled floors, closet organizers and more.

• Stunning sapphire and turquoise blue ocean views
• Scenic views of the harbor, mountains and downtown
• Dine at sunset on your private lanai
• Grand open living space
• Floor to ceiling windows
• Exquisite tiled floors
• Dining area bar may be used as an eating area
• Ample in-home storage
• Living area approximately 804 square feet
• Lanai approximately 130 square feet
• One covered, assigned parking stall
• Includes one year Home Warranty

Are you looking for your very own high floor condo with a spectacular view?  Contact Michael Zimmerman or visit my web site to perform your own specific Honolulu condo search.

Contributed by Michael Zimmerman
Direct:  808-457-9683
Michael@Michael-Zimmerman.com
www.Michael-Zimmerman.com
Subscribe via email to Honolulu Real Estate and Community News
Subscribe via RSS to Honolulu Real Estate and Community News

Michael Zimmerman just listed apartment Mauka/2302 in the One Waterfront Towers Condominium for sale.

Two words:  SIMPLY SENSATIONAL

One Waterfront Towers Condominium
425 South Street Mauka/2302
Honolulu, HI 96813
MLS #2913492

View the 4-page Home Brochure

Relax and enjoy stunning sapphire and turquoise blue ocean views from this serene, elegant home.  The private lanai is perfect for entertaining your guests, unwinding while reading or enjoying the evening sunset.  The impeccable apartment features a wide range of upgrades and is ready for immediate move in.  INspiration^® furniture is not included, but available separately.

You will appreciate and enjoy the elegance and value of this splendid home.  The large, open floor plan is a rare find these days.  There are only four apartments per floor, so it’s calm and private.

This magnificent apartment is in impeccable condition and features several upgrades such as granite countertops in the kitchen and bathroom, refreshed kitchen appliances, front loading washer and dryer, enclosed shower, tiled floors, closet organizers and more.

One Waterfront Towers is one of Honolulu’s premier luxury condominiums.  The buildings are a prominent landmark easily seen from Diamond Head to the Waianae Coast.  Conveniently located just minutes from Ala Moana Shopping Center, Ward Centers, Downtown, Chinatown, Restaurant Row, Aloha Tower and Waikiki.

Don’t miss your unique opportunity to own this ideal one bedroom condominium.

• Stunning sapphire and turquoise blue ocean views
• Scenic views of the harbor, mountains and downtown
• Dine at sunset on your private lanai
• Grand open living space
• Floor to ceiling windows
• Exquisite tiled floors
• Dining area bar may be used as an eating area
• Ample in-home storage
• Living area approximately 804 square feet
• Lanai approximately 130 square feet
• One covered, assigned parking stall
• Includes one year Home Warranty

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.

Contributed by Michael Zimmerman
Direct:  808-457-9683
Michael@Michael-Zimmerman.com
www.Michael-Zimmerman.com
Subscribe to Honolulu Real Estate and Community News

Summary
During the last four months, there has been a bit of a sales drought at One Waterfront Towers.  Just one apartment sold during that time.  Based on conversations I’ve had with owners and potential buyers, some people are concerned about the possibility of additional maintenance fee increases.   

Since my April Report, two short sales have entered escrow (a 1-bedroom and a 2-bedroom).  Time will tell if the lenders approve the sale and they actually close.  There is a low floor 2-bedroom leasehold apartment for sale as well.  Many other apartments are for sale, but one wonders why the owners have chosen listing prices that no one has paid for many years, let alone in the economic times we face. 

One Waterfront Towers Listed vs. Sold

One Waterfront Towers Condominium
415-425 South Street, Honolulu, HI 96813
Built: 1989

Schools
Elementary:  Royal
Middle:  Central
High:  McKinley 

Features
Located right next to Restaurant Row which includes Ruth’s Chris Steak House and it’s just steps away from Kakaako Waterfront Park. 

Availability
Apartments in the building:  302
Apartments available for sale:  16
Average days on market to date:  121
Apartments listed for sale in the last 30 days:  3
Months of inventory available:  24.0 

Sales
Apartments under contract in escrow:  3
Apartments sold in the last 90 days:  1
Average days on market:  60
Sales Price / List Price:  97% 

What else would you like to know about One Waterfront Towers?  Please visit my web site to view One Waterfront Towers apartments for sale, request free reports for buyers or sellers or conduct your own Honolulu condo search.  If you’re thinking of selling your home, contact Michael Zimmerman for a no obligation consultation.

Contributed by Michael Zimmerman
Direct:  808-457-9683
Michael@Michael-Zimmerman.com
www.Michael-Zimmerman.com
Subscribe to Honolulu Real Estate and Community News

Michael Zimmerman just sold the One Waterfront Towers condominium with this breathtaking view.  It was the first one bedroom sale in nearly three months.

Sold for $530,000 Fee Simple

Spectacular Ocean View

Two words:  STUNNING and IMMACULATE!

One Waterfront Towers Condominium
415 South Street Makai/2803
Honolulu, HI 96813
MLS #2906011

View the 4-page Home Brochure

One Waterfront Towers is one of Honolulu’s premier luxury condominiums.  The buildings are a landmark easily seen from Diamond Head to the Waianae Coast.  Conveniently located just minutes from Ala Moana Shopping Center, Ward Centers, Downtown, Chinatown, Restaurant Row, Aloha Tower and Waikiki.

Come home at the end of the day to a first class building with fantastic amenities that include exercise room, heated pool, sauna, whirlpool, tennis courts, BBQ area, covered parking and 24 hour security patrol.

• Beautiful views of the harbor, mountains and downtown
• Great open living space
• Entertain guests at sunset on your large, private lanai
• Bedroom enclosed to create a private suite
• Wider dining area bar may be used as an eating area
• Exquisite polished limestone floors
• Abundant in-home storage
• Floor to ceiling windows
• Living area approximately 804 square feet
• Lanai approximately 235 square feet
• One covered, assigned parking stall

Are you looking for your very own high floor condo with a spectacular view?  Contact Michael Zimmerman or visit my web site to perform your own specific Honolulu home search.

Lanai

Two words:  STUNNING and IMMACULATE!

One Waterfront Towers Condominium
415 South Street Makai/2803
Honolulu, HI 96813
MLS #2906011

View the 4-page Home Brochure

Unwind and enjoy striking sapphire and turquoise blue ocean views from this peaceful, elegant home.  The large, private lanai is perfect for relaxing while reading a book, enjoying a meal anytime of the day or entertaining your guests at sunset.  This one bedroom, one bath apartment features a wide range of upgrades and is ready for immediate move in.  It’s exactly what you’ve been waiting for.

Ocean View

Harbor View

(more pictures below)

You will enjoy and appreciate the elegance and value of this magnificent home.  The large open floor plan is a rare find these days.  There are only four apartments per floor, so it’s quiet and private.

The luxurious apartment boasts several upgrades such as granite kitchen countertops, a marble bathroom countertop, mirrored living room wall, the original popcorn ceiling has been removed, recessed ceiling lighting was installed in the living room and bedroom, electrical switches have dimmers, closet organizers and more.

One Waterfront Towers is one of Honolulu’s premier luxury condominiums.  The buildings are a landmark easily seen from Diamond Head to the Waianae Coast.  Conveniently located just minutes from Ala Moana Shopping Center, Ward Centers, Downtown, Chinatown, Restaurant Row, Aloha Tower and Waikiki.

Come home at the end of the day to a first class building with fantastic amenities that include exercise room, heated pool, sauna, whirlpool, tennis courts, BBQ area, covered parking and 24 hour security patrol.

Don’t miss your unique opportunity to own this ideal one bedroom condominium.

• Beautiful views of the harbor, mountains and downtown
• Great open living space
• Entertain guests at sunset on your large, private lanai
• Bedroom enclosed to create a private suite
• Wider dining area bar may be used as an eating area
• Exquisite polished limestone floors
• Abundant in-home storage
• Floor to ceiling windows
• Living area approximately 804 square feet
• Lanai approximately 235 square feet
• One covered, assigned parking stall

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

©2008 Coldwell Banker Real Estate Corporation.  Coldwell Banker® is a registered trademark of Coldwell Banker Corporation.  An Equal Opportunity Company.  Equal Housing Opportunity.  All square footages are approximate.  The information contained herein, while not guaranteed, has been obtained from sources believed to be reliable.

Living Room

Living Room

Dining Area

Kitchen

Bedroom

Bathroom

Pool

Summary
The number of apartments for sale at One Waterfront Towers jumped 40% from 10 to 14 since my November Market Report.  New listings have come on the market including a couple of short sales for buyers willing to take their chances on what will probably be very long escrows.  Additionally, a 1-bedroom leasehold apartment is for sale and the fee may be available for purchase.  Plenty of high floor 1 and 2-bedroom apartments are for sale, but as usual, some of those are priced way above what the market will bear.  Proof of that is this — three apartments have been available over 200 days.  

One Waterfront Towers Listings vs. Sales

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 varied quite a bit over the past year, but nearly doubled since mid 2008.  In the last six months, Waterfront Towers averaged just two sales every three months.  At that pace, it will take 21 months to sell the 14 apartments listed for sale.

One Waterfront Towers Condominium
415-425 South Street, Honolulu, HI 96813
Built: 1989

Schools
Elementary:  Royal
Middle:  Central
High:  McKinley 

Features
Located right next to Restaurant Row which includes Ruth’s Chris Steak House and the Restaurant Row 9 Theatres.  It’s just steps away from Kakaako Waterfront Park. 

Availability
Apartments in the building:  302
Apartments available for sale:  14
Average days on market to date:  139
Apartments listed for sale in the last 30 days:  0
Months of inventory available:  21.0 

Sales
Apartments under contract in escrow:  1
Apartments sold in the last 90 days:  2
Average days on market:  199
Sales Price / List Price:  98% 

What else would you like to know about One Waterfront Towers?  Please visit my web site to view Waterfront Towers apartments for sale or conduct your own Honolulu home search.  If you’re thinking of selling your home, contact Michael Zimmerman for a no obligation consultation.

Summary
The number of apartments for sale has decreased from 13 to 9 since my June Market Report.  Some listings expired, some were withdrawn and re-listed at another price and some sold.  The competition between the two-bedroom apartments has been keen and some owners have priced their condo to sell quickly while others are ignoring the market’s message (they’ve been on the market over 140 days are priced with a very optimistic outlook). 

I am listing apartment 1902 in the Makai Tower for sale and can’t get over how quiet this home is.  This is one of the largest one-bedroom floor plans available in Kakaako.  The two-bedroom apartments are just as spacious.  There appear to be a few good values available at One Waterfront Towers for those willing to hold property long term.  Finally, one leasehold apartment is still for sale and the fee is available for purchase.

One Waterfront Towers Condominium
415-425 South Street, Honolulu, HI 96813
Built: 1989

Schools
Elementary:  Royal
Middle:  Central
High:  McKinley 

Features
Located right next to Restaurant Row which includes Ruth’s Chris Steak House and the Restaurant Row 9 Theatres.  It’s just a short walk to Kakaako Waterfront Park. 

Availability
Apartments in the building:  302
Apartments available for sale:  9
Average days on market to date:  102
Apartments listed for sale in the last 30 days:  1
Months of inventory available:  10.8 

Sales
Apartments under contract in escrow:  2
Apartments sold in the last 30 days:  0
Average days on market:  N/A
Sales Price / List Price:  N/A 

What else would you like to know about One Waterfront Towers?  Please visit my web site to view Waterfront Towers apartments for sale or conduct your own Honolulu home search.  If you’re thinking of selling your home, contact Michael Zimmerman for a no obligation consultation.

One Waterfront Towers Condominium
415 South Street Makai/1902

Peace and Comfortable Living Await You

You will enjoy and appreciate the quality and elegance of this magnificent home.  The spacious floor plan is a rare find these days.  There are only four apartments per floor, so it’s quiet and private.

Come home at the end of the day to a first class building with fantastic amenities that include exercise room, pool, sauna, whirlpool, tennis courts,  BBQ area, covered parking and 24 hour security patrol.

Don’t miss your unique opportunity to own this ideal one bedroom condominium.

• Spectacular, sweeping ocean and harbor views
• Spacious one bedroom, one bath floor plan
• Graceful polished Brazilian Oak flooring
• Floor to ceiling windows
• Dine on your private lanai
• Plentiful in-home storage
• Living area approximately 804 square feet
• One covered, assigned parking stall
• MLS #2817923 

One Waterfront Towers is one of Honolulu’s premier luxury condominiums.  Conveniently located just minutes from Ala Moana Shopping Center, Ala Moana Beach Park, Ward Centers, Chinatown, Downtown and Waikiki.

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 only, is not a warranty and should be independently investigated by buyers. This information is deemed reliable, but NOT guaranteed.

Summary
There’s a lot to like at One Waterfront Towers condominium.  For example, there are a maximum of four units per floor so noise is minimized and owners have lots of privacy.  Moreover, this building has some of the largest one and two bedroom units on the island.  There are several, unique floor plans to choose from and there is one leasehold unit currently for sale.  The fee is available for purchase with the leasehold unit.

There have been seven One Waterfront Towers unit sales in the last six months and they were on the market for an average of 52 days.  The 13 units currently listed for sale have been on the market for an average of 160 days and five of those units have been available over 200 days.  I must conclude these units are priced higher than the market will bear and buyers are finding better value elsewhere.

Each tower has two three-story penthouses and both mauka tower penthouses are available as I write.  The units have 4475 sq. ft. of living space, their own private elevator and are laid out in completely different configurations.  Please contact Michael if you’re interested in owning either of these unique penthouse mansions in the sky.

One Waterfront Towers Condominium
415-425 South Street, Honolulu, HI 96813
Built: 1989

Schools
Elementary:  Royal
Middle:  Central
High:  McKinley 

Feature
Located right next to Restaurant Row which includes Ruth’s Chris Steak House and the Restaurant Row 9 Theatres. 

Availability
Units in the building:  302
Units available for sale:  13
Average days on market to date:  160
Units listed for sale in the last 30 days:  1
Months of inventory available:  11.1 

Sales
Units under contract in escrow:  2
Units sold in the last 30 days:  0
Average days on market:  N/A
Sales Price / List Price:  N/A 

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

One Waterfront Towers Condominium

415-425 South Street, Honolulu, HI 96813
Built: 1989

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

Feature
Located right next to Restaurant Row which includes Ruth’s Chris Steak House and the Restaurant Row 9 Theatres.

Summary
One Waterfront Towers is a very interesting condominium.  When driving toward Diamond Head on H-1, the two towers appear as prominent sentinels on Oahu’s southern shore.  It offers some of the largest one bedroom units (804 sq. ft. and up) on the island and its two bedroom units are huge by Oahu standards (1470 to over 2000 sq. ft.).  There are several, unique floor plans to choose from and the building still has a few leasehold units for sale.  The fee is available for purchase with the leasehold units as I write.

Waterfront is another of the condominiums I follow that cause me concern.  The sales pace has slowed and consequently over 10 months of inventory is available for sale.  Anytime there is more than six months of inventory for sale, the power shifts to the buyers.  The buyers are sending a clear message that prices are too high, but are the Waterfront sellers listening?  Apparently not, as 11 of the 17 units for sale have been on the market over 100 days.  Four of these units have been on the market over 300 days.

Each tower has two three-story penthouses.  These are rarely on the market, but one mauka tower penthouse is available as I write.  Its 4475 sq. ft. of living space features 4 bedrooms, 4.5 baths, 14 foot high glass walls and a spectacular 270 degree ocean view from Diamond Head to the Ewa plain.  This all sounds even better as its price has been reduced from $5.5 million to $4.2 million.  Please contact Michael if you’re interested in owning this unique penthouse mansion in the sky.

Availability
Units in the building:  302
Units available for sale:  17
Average days on market to date:  154
Units listed for sale in the last 30 days:  0
Months of inventory available:  10.2

Sales
Units under contract in escrow:  2
Units sold in the last 30 days:  2
Average days on market:  59

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