Kahala real estate is considered the Beverly Hills real estate of Honolulu, offering some of the most expensive residential Oahu real estate. Located between Diamond Head homes to the west and the Waialae Golf Course homes to the east, this sought after beachfront neighborhood consists of approximately 1,200 homes.
Some of the perimeter streets include Kahala Ave from the 4300 block on, with Aukai Ave, Elepaio St, Hunakai St, Waialae Ave, Kealaolu Ave and back to the ocean. Kahala homes for sale are typically valued between $1.5M for just the land, and up to $20M+ for the ultimate luxury oceanfront estates. Most lot sizes are around 10,000 sq ft with a few 1 acre plus lots.
Insight to Kahala Homes
Early Kahala real estate development began in the 1920’s with a more extensive build-out during the 1950’s and 1960’s. Kahala homes is today a mix of charming older ranch style homes and newer large two story luxury estates.
Unless you're on the ocean, Kahala homes don’t offer a lot in views. There are only about 40 oceanfront properties on the 1 mile ocean stretch along Kahala Ave. The oceanfront homes east of Hunakai St are on pristine white sandy beach, and the oceanfront properties west of Hunakai St enjoy the privacy of a sea wall. Inherently, the most expensive homes for sale in Kahala are found along the ocean side of Kahala Ave, followed by homes on the coveted Aukai Ave and Kolohala Ave - the latter a beautiful wide street with little traffic.
Kahala residents enjoy a neighborhood with relatively low density, ensured by existing deed restrictions beyond the standard zoning laws (lots in Kahala are either zoned R-10 or R-20). Kahala also has a strong community association, which tend to strongly oppose any attempt of any Kahala home owner to obtain a zoning variance (which would allow for alternative usage beyond single family residential usage).
Kahala real estate appeals to anyone looking for a quiet, prestigious residential neighborhood with spacious roads, luxurious homes on generous level lots, a gorgeous beach and an easy commute into town.
Nearby you'll find the famous Waialae Country Club, home to the annual Sony Open tournament, and the Kahala Hotel & Resort, one of Hawaii’s top resorts. Countless prominent celebrities such as the late Whitney Houston have enjoyed the serenity of the beach at the Kahala Hotel.
There are also three splendid popular parks for outdoor activities, including the Waialae Beach Park. Several public beach access points are available along Kahala Ave, making it convenient to enjoy a stroll along the beach whenever desired.
Shopping at Kahala Mall is close by with WholeFoods for groceries, boutique shops and a number of excellent restaurants to sample.
Controversial and eccentric Japanese Billionaire investor Genshiro Kawamoto who purchased hundreds of homes across Honolulu during the Japanese bubble in the late 1980’s also bought 28 homes along Kahala Ave during the past 15 years with an assessed value of about $150M. Unfortunately, due to neglect, his properties lost their exceptional luxury feel, diminishing some of the fine appearance Kahala Ave once had. Kahala residents celebrated when A&B Properties, a reputable Hawaii developer, purchased 27 of these Kawamoto properties along Kahala Ave in September 2013 for just shy of $100M.
The price range of houses for sale in Kahala is $1.5M to $16.95M with a median price of $3.19M, median interior of 3,249sqf and median land size of 11,250sqf.
The median price of houses sold in Kahala year-to-date (Jan - Oct 25, 2016) is $2.39M. In previous years it was $2M (2015), $2.2M (2014), $1.92M (2013), $1.92M (2012), $1.79M (2011), $1.6M (2010), $1.49M (2009), $2.13M (2008), $1.81M (2007), $1.66M (2006), $1.62M (2005), $1.45M (2004), $1.18M (2003).
25 houses have sold in Kahala year-to-date (Jan - Oct 25, 2016). In previous years, the total number of houses sold were 29 (2015), 41 (2014), 33 (2013), 49 (2012), 44 (2011), 47 (2010), 40 (2009), 42 (2008), 48 (2007), 50 (2006), 66 (2005), 73 (2004), 63 (2003).
On average Kahala houses were on the market for 124 days before they were sold (Jan - Oct 25, 2016). In previous years it was 120 days (2015), 117 days (2014), 89 days (2013), 91 days (2012), 86 days (2011), 66 days (2010), 78 days (2009), 114 days (2008), 80 days (2007), 96 days (2006), 84 days (2005), 70 days (2004), 91 days (2003).
The average days on market for Kahala houses before sold were 93 days September 2016 compared to 108 days September 2015.
The ratio of Kahala houses sales price vs list price were 96.6% September 2016 compared to 96.7% September 2015.
3 Kahala houses were sold September 2016 compared to 7 houses sold September 2015.
The total dollar volume of houses currently for sale in Kahala is $169.19M and the sold dollar volume year-to-date (Jan - Oct 25, 2016) is $63.07M. In previous years sold dollar volume was $77.08M (2015), $112.8M (2014), $73.8M (2013), $103.61M (2012), $87.09M (2011), $111.11M (2010), $68.59M (2009), $104.76M (2008), $110.38M (2007), $110.3M (2006), $168.89M (2005), $155.61M (2004), $98.35M (2003).
The most recent sale in Kahala was a house located at 759 Elepaio Street, sold for $2.05M on Oct 21, 2016. It had 3105sqf of interior. 9 other recent sales include: 1116 Kealaolu Avenue (2,512sqf) sold for $2.6M on 9/29/2016. 736 Elepaio Street (3,884sqf) sold for $2.75M on 9/21/2016. 1138 Koloa Street (2,479sqf) sold for $1.88M on 9/8/2016. 4980 Kolohala Street (1,686sqf) sold for $1.88M on 8/26/2016. 4388 Kahala Avenue (3,223sqf) sold for $2.74M on 8/4/2016. 1065 Noio Street (5,291sqf) sold for $3.5M on 7/28/2016. 1034 Kealaolu Avenue (3,892sqf) sold for $2.75M on 7/15/2016. 4528 Kolohala Street (5,303sqf) sold for $2.69M on 6/24/2016. 904 Onaha Street (2,908sqf) sold for $2.39M on 6/24/2016.
3 of the houses have ocean views, 7 have Diamond Head views and 11 have mountain views.
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The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on September 22, 2016. Information is deemed reliable but not guaranteed.