Click here to view online with images.
 

O'ahu Market Update

Affordability and Availability loom large in today’s real estate market. According to the Honolulu Board of Realtors’ Monthly Stats Report, prices continue to rise for both condominiums and homes as compared to the same time last year. The median sales price for homes during the month of June was $1,100,000 up from $979,000 in June of last year (2021). The condominium median price last month also continue to rise moving up to a record high of $534,000. The continued high prices have affected buyers and their ability to afford these prices. Last year, we believe the high price of single family homes pushed buyers into townhomes and condominium units which were more affordable. Now, we are seeing a drop in the number of closed sales and pending sales as compared to last year. Less sales may not mean lower prices, however, it has led to more inventory for sale on the market. At the end of June there were 39.8% more homes for sale that buyers could choose from. In summary, buyers now have more choices, sellers are still selling for top dollar and the increase in mortgage interest rates have cut into the buyer’s purchasing power.

 

Read the full report from the Honolulu Board of REALTORS® here.

 
 
 

Partnership with IHS Hawai'i - Helping People Find Home

The BHHS Hawai'i Realty for IHS Housing Fund is making an impact on those who seek support from The Institute for Human Services. 

This year, we've launched several programs to support IHS in our daily real estate business. Our Commission-Based Donation Program allows our BHHS Hawai'i agents to allocate a donation directly from their commission. Our clients are able to make in-kind donations at closing via our Moving-it-Forward Program ensuring the furniture and home goods they no longer need after selling go to an IHS family, We look forward to giving back in new ways each month.

This fund is designed to help families in need of emergency funds to keep people in their homes and prevent them from falling into homelessness. The funding will include preventative measures such as rental deposits, rent relief, and utility deposits. The goal of this fund is to support qualified families, that don’t fit the criteria for state and federal assistance programs, so they can receive the help they need.

 

If you would like to join us in this effort, please consider making a donation to The BHHS Hawai'i Realty for IHS Housing Fund at our fundraising page here.

 
 
 

FEATURING MY NEWEST LISTING AT CLUB VIEW GARDENS III

47-682 Hui Kelu St. #6709, Kaneohe HI- Open House Sunday 1-5pm

Private and quiet indoor/outdoor living, surrounded by
lushness, backed up to a ravine with majestic mountain
views & generous living space. This is one of the largest
corner units offered in a fantastic location, an open floor
plan with additional windows offering natural light & views
of outside greenery. Soaring vaulted ceiling & extra large
lanai. A light and bright open kitchen with a walk- in pantry.
The master suite is on the main floor with a huge walk-in
closet, full bath & patio. Downstairs, you have a flex space,
perhaps for an office, along with two guest bedrooms, a
bathroom, a laundry room and an enclosed yard. Listed for $820,000. 
 

 
 
 

Retro: Not Just Mid-Century Anymore

According to EyeonHousing.com, half of owner-occupied homes were built before 1980. That could be just one of many reasons why many homebuyers and homeowners are going more “retro” in their decorating styles. Retro pieces of furniture, art, and accessories, whether antique, reproduction or derivative, can bring a unique personality to any home.

TheSpruce.com explains that home décor has always mixed the old with the new. Retro is widely thought to mean Mid-century design, but it can also include nods from other eras, including Art Deco and Modernism from the 1920s to the 1940s. Both post-war, these modernistic motifs reflect large lifestyle changes, and are based on the joys of progress and optimism for the future.

Art Deco décor: The 1920s was a time of wealth, optimism, and confidence, concepts reflected by geometric shapes, opulent details, shiny surfaces, luxurious fabrics and vertical lines. Art Deco décor pays homage to the technical achievements that produced skyscrapers, planes, trains and automobiles. Machine-made objects such as toasters, blenders, refrigerators and vacuum cleaners revolutionized housekeeping. Bring Art Deco influences into your home with brass, chrome, statuary, luxe fabrics like brocade, velvet and suede, rounded seating and bold colors like emerald green, black and gold.  

Mid-century décor: Mid-century design takes inspiration from suburbia, highway travel, the invention of jet airplanes and easier international travel, and the Space Race from the 1950s to the 1960s. It’s practical, sleek, uncluttered, and features light, cheerful colors, low furniture with exposed legs, and new materials like plastic, rayon, acrylic and Formica.

 
 
 

Which Remodeling Projects Bring the Most Joy?

In 2020, Americans spent $420 billion remodeling their homes, according to a new report by The National Association of REALTORS (NAR) and The National Association of the Remodeling Industry (NARI.) They remodeled to upgrade outdated worn-out surfaces, finishes and materials (30%), add features and improve livability (20%), and just enjoy a change (16%.)   While most consumers (83% of those surveyed) said they would have remodeled regardless of the pandemic, most found that they were happy with the results (57%), satisfied (39%), and felt a sense of accomplishment (69%).  

Homeowners reported that the best results from remodeling were better functionality and livability (35%), durability (22%), and beauty (14%). A whopping 84% of homeowners said they enjoyed their homes more than before they remodeled.  Although most projects were completed with standard quality fixtures and materials, and some with better-quality installations, NAR and NARI calculated the consumers’ typical “Joy Score” at 9.6 out of a possible 10.

So which renovations brought the most joy to homeowners? Interior projects that received a perfect Joy Score of 10 include: painting the entire interior of the home, painting one room of the home, adding a new home office, hardwood flooring refinishing, new wood flooring, a closet renovation, insulation upgrade, and attic conversion to a living area, said the report.  Scoring 9.8 were complete kitchen remodels and partial kitchen upgrades. A basement conversion to a living area scored a 9.7, and a bathroom renovation scored a 9.6. Adding a new laundry area and a new master bedroom earned a 9.5.

 
 
 

Local Flavor

"Here’s Where to Find the Best Handmade Crafts on O'ahu, From Jewelry to Ukuleles to Panama Hats"

From Honolulu to the rural North Shore, a new generation of designers, retailers, and makers is bringing fresh energy to the traditional craft scene on O'ahu.

  • KoAloha Ukulele: A family-owned studio and store making custom ukuleles in downtown Honolulu.
  • No. 808: Men's and women's casual wear, plus vintage objects, on O'ahu's famous North Shore.
  • Olive and Oliver: Island- inspired men's and women's clothing boutiques in Kailua, with a second location at the Surfjack hotel in Waikiki.
  • Royal Hawaiian Heritage Jewelry: Traditional name bracelets are given a modern twist at this downtown Honolulu workshop.
  • Salvage Public: Surf-tinged sportswear with a shop in Kaka'ako.

To read the full article from Travel + Leisure, please visit here.

 
 
 

Local Expertise, Global Connections

Whether buying or selling luxury property, you deserve an agent empowered to think beyond the next transaction – one who will consider your long-term goals. Our network of Luxury Collection Specialists have superior training and are equipped with the most advanced marketing tools. Their wisdom and dedication ensure you’ll get all the value that home brings – year after year after year.

Lila has been a "Luxury Collection Realtor" for many years, and is among the top 3% globally of Berkshire Hathaway's 50,000+ agents. "You are in good hands with Lila"

Berkshire Hathaway HomeServices Hawai'i Realty
Lila Marino-Camacho
Realtor Associate, RS-63620
808.341.6034
lilamc@bhhshawaii.com
www.KailuaRealEstateOahu.com

Visit me on FacebookVisit me on TwitterVisit me on LinkedInVisit me on YouTubeVisit me on InstagramVisit me on Pinterest

 

HI Lic #: RS-63620
46 Hoolai St. #D Kailua, HI 96734

©2024 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. Information not verified or guaranteed. If your property is currently listed with a Broker, this is not intended as a solicitation. Equal Housing Opportunity.