About Honolulu Condos
Honolulu's condos are located in a stirring mix of ageless tropical paradise and modern cityscape, sometimes side-by-side. Turn one way and you see beaches, palm trees and oceanscapes that have the same unfailing allure that they've had since the day the word got out about them. Turn the other way and your gaze is drawn upward to see where the forest of skyscrapers end their stretch up to the blue skies.
Condos in Honolulu now make up the majority of the real estate in Honolulu. In fact, they've been the primary residential choice since the 1960's. With the consistently booming tourist industry needing workers and the State Government being centered here, along with most of Hawaii's finance and business industry, it's no wonder that 70% of the Islands' population is on Oahu. That's why the best way to build is Up.
There's also the equally important factors of the desire to preserve the natural side of the Islands and their affordability, compared to full houses, contributing greatly to this shift to vertical living.
Popular Condo Neighborhoods in Honolulu
Honolulu's condo neighborhoods are different, like any other community, each with their own feel. That can be due to a variety of things like the area of Oahu it sits in, the surrounding backdrop or the vision of the developer(s). The following is an overview of the more popular condo neighborhoods in Honolulu.
Downtown Honolulu Condos
The setting here is truly urban, the residential towers having equally towering office buildings and corporate centers for neighbors. These Honolulu condos here are mostly upscale, serving the city resident who appreciates better amenities and views that can take in not only Honolulu harbor, and the ocean itself, but both the city lights and the mountains as well. There are benefits to being in this central area, including the easy commute, walking distance to Chinatown's choices of tasty restaurants and nightlife, plus the historic center of Iolani Palace, Aliiolani Hale and the State Capitol.
Kakaako / Ala Moana Condos
This is what all the talk is about in the Honolulu condo market. Though most of the booming Kakaako project is happening in its traditional boundaries, the Ward Village side does stray a tiny bit into Ala Moana's territory. Specifically into Ala Moana Shopping Center, where Park Lane project has taken over the makai-Ewa side of the mall, taking full advantage of the ocean views. It's the purest example of the new Kakaako's Live-Shop-Play convergence.
Kamehameha Schools project, called 'Our Kakaako' is being done in the western part of Kakaako, nearer to Downtown. Howard Hughes is building their 'Ward Village' in the eastern part, which nudges up against the Ala Moana district.
When completed they will close to 30 new condos buildings, interspersed with numerous shopping and dining options plus green parks and pedestrian walkways, which will allow residents to easily use all conveniences without needing a car. Many of these condos in Honolulu will have those incredible ocean views, a good number of which will be completely and perpetually unimpeded due to their location on Ala Moana Blvd.
Kakaako is only now coming into being, but soon it will boast some of the finest condos in Honolulu. This neighborhood is laid out meticulously for residents to revel in its outside living spaces and countless shopping & dining options, all made to be walked to easily. As they say, half the fun will be getting there due to the landscaped greenery and active outdoor community life. There will also be some condos in more affordable categories to create a diverse neighborhood throughout. This is the future of Honolulu.
It's not just for tourists. Many live here because they enjoy the beautiful beaches, the fact that, unlike most other Honolulu condo neighborhoods, the pace actually pick ups a little after the sun goes down, plus some of the most stylish shopping anywhere. Being an exclusive resort area, the condos are priced accordingly and often the floorplans are smaller. Even without a view of those iconic waves, though, you're always within an easy stroll to the beaches here, which is what life truly revolves around here, at least while the sun shines. There's a range of options to choose from, but being in this desirable locale always raises the pricing.
Gold Coast Condos
Never was a place named so well. The Gold Coast condos in Honolulu were all built in the late 1950's to early 1960's, years before the word Amenity became important in real estate. Most feature, at best, a swimming pool in their list of extras. Yet these are highly prized homes, the kind you dream about living in someday. Why? Because they not only sit under Diamond Head on some of the most stunning oceanfront property on Earth, they stand so close you can sometimes feel the spray. Famously built before regulations pushed new construction back further from the coastline, they possess a position that can never be duplicated again. Live here and you join a select few who not only live on the ocean, they commune with it.
Hawaii Kai Condos
The most notable Hawaii Kai condos are easy to spot, sitting right on the man-made marina, some on small peninsulas, so water surrounds them on 3 sides. You'll even see many that enjoy a personal dock, just steps from their home. There are also some condo towers here, spread out with numerous green spaces throughout. It's distinctly suburban in that way, with some high-rises sitting toward the back of the valley where it's quieter and more lush in its surroundings. Properties here are known for typically larger floor plans than other Honolulu condos, their easy proximity to 3 major shopping centers and beautiful views in every direction. In many ways this is the eastern border of Honolulu, further on it becomes much more rural and takes you out of commuting range.
The life of Makiki is rooted very much in an older Hawaii. This comes from a few factors. The many longstanding local family businesses that are still there, the plantation style houses that have been here for 50 or more years and the institutions like Punahou School & Central Union Church that have anchored this area for well over 100 years. Makiki's environment ranges from the busy, though low-rise, King St to almost tropical rainforest as you progress toward the mountains. The intense greenery of those deeper areas can be a beautiful backdrop for those who live there. Live here to turn the calendar back and the volume down.
Just looking at Honolulu condos for sale isn’t the whole homebuying process. Your lifestyle, the kind of environment you want to live in and what kind of neighbors you want to have – all important factors that can make one of these condo neighborhoods right, or very wrong, for you. You probably already have an idea of which is calling you in for a closer look just from the information above. Follow that urge and you'll soon be on your way home.
Honolulu Condos - Trends & Statistics
The price range of condos for sale in Honolulu is $25K to $36M with a median price of $557K and median interior of 902sf.
The median price of condos sold in Honolulu year-to-date (Jan 23, 2017) is $402K. In previous years it was $408K (2016), $380K (2015), $365K (2014), $360K (2013), $340K (2012), $325K (2011), $335K (2010), $330K (2009), $349K (2008), $385K (2007), $305K (2006), $275K (2005), $240K (2004), $192K (2003).
137 condos have sold in Honolulu year-to-date (Jan 23, 2017). In previous years, the total number of condos sold were 3252 (2016), 2953 (2015), 2937 (2014), 3248 (2013), 2770 (2012), 2506 (2011), 2434 (2010), 2167 (2009), 2436 (2008), 3875 (2007), 5148 (2006), 4885 (2005), 4542 (2004), 3766 (2003).
On average Honolulu condos were on the market for 81 days before they were sold (Jan 23, 2017). In previous years it was 90 days (2016), 88 days (2015), 87 days (2014), 69 days (2013), 62 days (2012), 67 days (2011), 65 days (2010), 78 days (2009), 71 days (2008), 57 days (2007), 41 days (2006), 43 days (2005), 52 days (2004), 71 days (2003).
The average days on market for Honolulu condos before sold was 89 days December 2016 compared to 99 days December 2015.
The ratio of Honolulu condos sales price vs list price was 98.1% December 2016 compared to 97.5% December 2015.
292 Honolulu condos were sold December 2016 compared to 264 condos sold December 2015.
The total dollar volume of condos currently for sale in Honolulu is $1.28B and the sold dollar volume year-to-date (Jan 23, 2017) is $73.31M. In previous years sold dollar volume was $1.65B (2016), $1.36B (2015), $1.33B (2014), $1.39B (2013), $1.14B (2012), $1.02B (2011), $1.02B (2010), $841.11M (2009), $1.01B (2008), $1.73B (2007), $2.18B (2006), $1.68B (2005), $1.32B (2004), $882.93M (2003).
The most recent sale in Honolulu was a condo located at #1101 , sold for $340K on Jan 20, 2017. It had 868sf of interior. 9 other recent sales include: #A4 (2,053sf) sold for $760K on 1/20/2017. #1607 (683sf) sold for $208K on 1/20/2017. #2001 (525sf) sold for $170K on 1/20/2017. #25 (1,035sf) sold for $568K on 1/20/2017. #107 (615sf) sold for $455K on 1/20/2017. #1313 (1,427sf) sold for $780K on 1/20/2017. #841 (888sf) sold for $390K on 1/20/2017. #902 (1,120sf) sold for $1.62M on 1/20/2017. #1709 (600sf) sold for $278K on 1/20/2017.
In Honolulu there is currently 1,036 fee simple and 206 leasehold units for sale. 663 of the condos have ocean views, 313 have Diamond Head views and 608 have mountain views.
There are 152 studio floor plans, 342 x 1 bedroom floor plans, 543 x 2 bedroom floor plans, 180 x 3 bedroom floor plans and 18 x 4 bedroom floor plans.