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  Some listings expired, some were withdrawn and re-listed at another price and some sold.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.

Below is 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:  One Waterfront Towers
425 South Street #1804, Honolulu, HI 96813
(Leasehold Property)

Total days on the market:  153
Sold at 73.7% of original list price

What can we take away from this?

1.  Choose your listing price wisely.

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

3.  If you choose the wrong listing price and aren’t getting many showings or offers, as was done in this case, regularly and aggressively lower your price to generate more interest.

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