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 $1.52M to $16.95M with a median price of $3.18M, median interior of 3,040sf and median land size of 11,250sf.
The median price of houses sold in Kahala year-to-date (2016) is $2.6M. 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).
30 houses have sold in Kahala year-to-date (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 138 days before they were sold (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 184 days November 2016 compared to 104 days November 2015.
The ratio of Kahala houses sales price vs list price were 98.1% November 2016 compared to 88.9% November 2015.
4 Kahala houses were sold November 2016 compared to 4 houses sold November 2015.
The total dollar volume of houses currently for sale in Kahala is $165.62M and the sold dollar volume year-to-date (2016) is $79.97M. 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 930 Pueo Street, sold for $1.57M on Dec 08, 2016. It had 1345sf of interior. 9 other recent sales include: 4753 Aukai Avenue (6,761sf) sold for $4.1M on 11/30/2016. 4743 Kolohala Street (4,111sf) sold for $3M on 11/18/2016. 628 Honua Street (4,660sf) sold for $3.35M on 11/17/2016. 528 Ahakea Street (3,121sf) sold for $2.5M on 11/9/2016. 4834 Kahala Avenue (5,178sf) sold for $3.95M on 11/4/2016. 759 Elepaio Street (3,105sf) sold for $2.05M on 10/21/2016. 1116 Kealaolu Avenue (2,512sf) sold for $2.6M on 9/29/2016. 736 Elepaio Street (3,884sf) sold for $2.75M on 9/21/2016. 1138 Koloa Street (2,479sf) sold for $1.88M on 9/8/2016.
2 of the houses have ocean views, 6 have Diamond Head views and 11 have mountain views.
The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on December 10, 2016. Information is deemed reliable but not guaranteed.