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LUVA Real Estate Blog

oahu real estateMonth over month the number of total sales and number of new listings have steadily increased for single-family and condos on Oahu. This is a promising sign that the real estate market is moving in the right direction. 

Comparing the data to the same time last year, the market is in a considerably less desirable position - however, that is to be expected with the ongoing global uncertainty. The condo market remains to be the market hit the hardest, with number of sales down 34% when compared to last year. The number of single family home sales are down 7.6%

 LUVA Realtors are seeing that buyers are returning to the market to take advantage of the historically low interest rates and decreased competition. LUVA Broker Kimi Correa has commented that on

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This past month the state has continued to reduce the shutdown restrictions for businesses, parks, and beaches. As of June 26, passive beach use is allowed at all State Park beaches! However, due to financial strain some beaches have been forced to keep their gates closed due to lack of resource management. Here is a breakdown of beach uses in West Hawaii:

  • Hapuna Beach – open for passive and active beach use.Kealakekua
  • Kekaha Kai State Park – open for passive and active beach use.
  • Kua Bay – gate is open on weekends only.
  • Kealakekua Bay State Park – open as of July 1 for land and bay access.
  • Kiholo State Park Reserve – open as of June 29 for day use. Camping remains closed.

Camping will reopen with new social distancing requirements for some

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Jonika has always had a passion for Real Estate. As a young girl who was raised by a single mom with very little money, she would beg her mom to drive through different neighborhoods so she could look at the different homes. Her favorite thing was to observe the different styles, architecture, and landscaping each homeowner chose. She would imagine the person or family living in the homes and what their lives were like. Jonika Macdonald   When Jonika first moved to Hawai’I in 2010, she lived with a very kind and caring couple for her first six months on island. The husband was a well-known local REALTOR®/Broker/Owner who had recently retired after many years in the business. He would tell Jonika that she had the personality and the spirit for the job. After months…
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As the state continues to reopen, statistics show there have been signs of slight improvement in the Real Estate industry across the state. On Maui, the number of new condo listings almost doubled in May when compared to April, with 61 new listings. For single family homes, there was a 43% increase in new listings with 79 homes coming onto the market. The increase in this number signifies that some sellers are ready to emerge into the market, where they may have been holding off since the pandemic shut down the economy in March. Maui Market Report June 2020

However, as reported by the Realtor Association of Maui, "Buyers have been quicker to return to the housing market in force than sellers." Buyers are eager to take advantage of historically low interest rates, and with more

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As the state continues to reopen, statistics show that there were slight signs of improvement in the Oahu Real Estate market last month.

The number of sales are still down for single-family homes when compared year over year, but month to month the number of sales remained the same, with 248 sales in each April and May. This is a 22.5% decrease from last May. For condos there was a slight decrease in number of sales this month when compared to April, dropping from 343 in April to 254 in May. Real Estate Market Update Oahu June 2020

Last month we saw an increase in the number of new listings for both single-family homes and condos, which is a healthy sign. New listings for condos rose from 474 to 547, and new listings for single-family homes increased from 827 to 926. However, these

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Hawaii Island June 2020 reportAccording to recent statistics released from the State Department of Labor and Industrial Relations in April, almost one in every four people on the Big Island was out of work. It is clear that for Hawai'i, the halt in tourism heavily contributes to this statistic. Beginning this month, some of those workers are returning to work as businesses and restaurants open their doors once again. However, the limitations on visitors due to the travel quarantine has forced many mainland buyers to put their search on halt. Our agents are seeing that there is a lot of pent up buyer demand. LUVA Realtor Lance Owens commented that "we have several clients waiting for the 14-day quarantine to end so they can come in and buy." In May, Big Island saw a 25% decrease

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The state of Hawaii has entered the “Act with Care” stage which is phase three of the Governor’s strategy to reopen Hawaii. According to the Governor’s office this phase “depends on venues taking steps to mitigate COVID-19 and Hawaii’s people acting with care.” As of June 1, medium-risk businesses can begin to operate under social-distancing guidelines. For Big Island, this means the following businesses are able to resume operations

  • Places of worship
  • Salons
  • Barber shops
  • Beauty operators
  • Restaurants (excluding bars and nightclubs)
  • Indoor exercise facilitiespololu valley
  • Museums and Theaters
  • Outdoor spaces (ocean tours, some outside pools and some summer camps)

News outlet, Big Island Now, has developed a useful resource to find out

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agent spotlightFrom the moment they came to Hawaii in 2004, Kurt & Kirsten knew they had found their paradise. Kirsten was working as a real estate assistant and Kurt was in the software industry before moving to the island from Illinois. They were looking to get out of the rat race and were tired of working in a business suit and tie workspace. When they landed in Hawaii they traded the business suit for a swim suit and started a snorkel business at Kahaluu Beach Park. While working at the beach, Kurt injured his back and had to get back surgery. While he was recouping, he decided to get his real estate license. He started working in real state once he was recovered and he would come home and tell Kirsten how much fun he was having working with clients, going to

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In what traditionally is a busy few months for the Hawaii real estate industry, last month Oahu saw double digit decreases in new listings and sales closed. According to figures just released from the Honolulu Board of Realtors, the Housing Market has begun to see a widespread impact across Oahu from COVID-19. President of the Honolulu Board of Realtors, Tricia Nekota, commented that “sellers and buyers are exceedingly cautious as they juggle their perceptions and the reality of economic security amid these uncertain times. Once consumers begin to feel some relief from the impacts of the pandemic, it’s likely we will see listing and buying activities slowly increase.”

Statistics confirm that we are seeing many homeowners refrain from putting their home

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In his recent presentation to Hawaii and Kauai Island Realtors, Economist Paul Brewbaker called the pandemic a “Black Swan event – rare, unpredictable and impactful.” He went on to say that trying to forecast such an event is not possible, since we have never seen a situation like this unfold. The Hawaiian economy has taken a difficult hit with a reported 29% of workers filing for first-time unemployment since Mid-March. With tourism in Hawaii essentially on hold, mainland buyers are having to rely on virtual tours and showings if they want to move forward with their purchases. For many buyers, not being able to view the property in person is bringing their real estate searches to a pause. For other mainland buyers, the pandemic has motivated them to make

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