About Mililani Region / Central Oahu
In real estate, people love to talk about how 'central' a place is, right in the middle of everything so you're near to whatever you want to do and wherever you want to go. For Oahu real estate, when you speak in those terms, you're talking about the Mililani region. Or, to be more specific, you're talking about four communities: Mililani Town, Mililani Mauka, Wahiawa and Waipio that all sit in the center of this beautiful Island.
Let's establish an overall picture first by looking at what the four share, like the highway which makes up the dividing line between them. The H-2 freeway runs its way through here, heading North/South. Up to the North Shore and Down to Pearl Harbor and Honolulu. No matter what your purpose is, work and shopping (South) or beaches and big waves (North), you're getting there in good time.
Both also share the elevated plateau they sit on, located between Oahu's two major mountain ranges, the Koolaus on the East and the Waianaes to the West. The higher elevation in the midst of those hills produces the comfort of cooler climes, something lower Oahu residents envy on those warmer days that make up most of the tropical year.
It's also responsible for the flourishing greenery that springs up so easily and bountifully all around you. Not just in the many parks and green belts laid out across the 2 towns, but at and around your own home, where its enjoyment can lift the most trying of your days. The fertility of this land is no recent discovery.
Before either town came into being, this area was dominated by the sugar cane and pineapple plantations that powered Hawaii's economy until well into the Mid-1900's. With the shift toward tourism and other changes that brought a close to that era, it became clear that this was the perfect place for building a new community. Housing demands were only growing and the property here, at the time, was considerably more affordable, being outside Metro Honolulu. That was the start of Mililani Town.
Mililani Town - Built Hawaii Style
The first residents moved into their new homes in 1969, becoming the initial settlers of a neighborhood that hadn't existed just a few years before. You'll notice that, though it was build in a time when high-rises were springing up, there are almost none to be seen here. Mililani real estate was developed in the classic Hawaii style of low-rise, often ranch style houses. You come here to have your own yard, make friends with your neighbors and raise, or start, your family.
There are townhomes as well, but the dominant layout are the large groups of single and two story houses surrounded by varying amounts of lawn, making up a local counterpart to the suburbs of the mainland.
Like those suburbs, there's substantial shopping to take care of just about anything you'd require. The aptly named Town Center of Mililani has Wal-Mart, Long's, City Mill, Times Supermarket plus numerous dining and entertainment options, including a 14 Plex movie theatre. The fact that it covers 450,000 sq ft should tell you just how complete the Town Centre is in its offerings. It's a one-stop shop for most anything.
There's also the smaller, but still very substantial, Mililani Shopping Center, which provides a grocery store, local favorite Ross plus 14 restaurants and eateries along with many other shops and services. When you have two malls of this depth, you know you've got your options filled nicely.
The home values in Town can be expected to run from $500K to as much as $1M, the lots averaging between 5,000 to 8,000 sq ft. Townhomes are more affordable, going from $200K on up to $500K.
Mililani Mauka - The Younger, Quieter Sister
Head east directly across H-2 and you're in Mililani Mauka. This community came to life the moment its sister was completed, welcoming its first residents in 1991. The last of the overall project's homes opened their doors 16 years later, in 2007. Outside of Kapolei, this is the newest large-scale development on Oahu.
Mauka has a modern look and favors townhomes more than Town, many of which are a notch or two higher than the typical layout. The Hampton Court townhomes have 2 and 3 bedrooms, with as much as 1,700 sq ft of floor to walk around in underneath double tall ceilings. Your car gets the same generous treatment due to the individual covered garage included in the bargain.
Mililani Mauka real estate is also indulgent with the sizes of the lots. The range is greater than Town, going from 4,000 to as much as 10,000 sq ft, so you're given much to work with as you please. Tend a garden. Sit outside and soak in the cool quiet. Get out your grill and invite friends and family over to make some memories. You've got the room for it all now.
The home values currently go from $600K to $1.2M for houses, while townhomes start at around $200K, rising to the upper $500K level.
The one things Mauka lacks is shopping. For some, though, that's a benefit, keeping the large parking lots and traffic outside. There is the small, but expanding, Gateway, which has a Long's, McDonald's and, most importantly for many, a Starbucks. The lack of storefronts isn't that much of an issue, with the Mililani Town's two malls just minutes away to take care of whatever you need.
The oldest of Mililani houses are just a few decades old, some have not even reached their 10th birthday. Yet both Town & Mauka have the feel of true local family neighborhoods. The parks are filled each weekend with families cheering on their kids baseball or soccer teams. The backyards are alive with the sizzling of grills and singalongs, accompanied by ukulele, of course. Cars get loaded up with surfboards for a trip northward.
What these communities have is the Hawaii variety of character, something that the developers could never have planned, but is here because the people made it so. Somehow it's understandable that this happened. After all, Mililani Town & Mililani Mauka are right in the Heart of Oahu.
Mililani Houses - Trends & Statistics
The price range of houses for sale in Mililani is $325K to $13M with a median price of $675K, median interior of 1,376sf and median land size of 5,686sf.
The median price of houses sold in Mililani year-to-date (Jan 20, 2017) is $825K. In previous years it was $710K (2016), $666K (2015), $635K (2014), $600K (2013), $569K (2012), $560K (2011), $545K (2010), $560K (2009), $580K (2008), $605K (2007), $590K (2006), $540K (2005), $425K (2004), $355K (2003).
9 houses have sold in Mililani year-to-date (Jan 20, 2017). In previous years, the total number of houses sold were 333 (2016), 312 (2015), 293 (2014), 311 (2013), 303 (2012), 278 (2011), 280 (2010), 249 (2009), 303 (2008), 375 (2007), 407 (2006), 447 (2005), 423 (2004), 389 (2003).
On average Mililani houses were on the market for 105 days before they were sold (Jan 20, 2017). In previous years it was 78 days (2016), 80 days (2015), 76 days (2014), 72 days (2013), 56 days (2012), 64 days (2011), 54 days (2010), 67 days (2009), 62 days (2008), 64 days (2007), 56 days (2006), 35 days (2005), 36 days (2004), 42 days (2003).
The average days on market for Mililani houses before sold were 83 days December 2016 compared to 93 days December 2015.
The ratio of Mililani houses sales price vs list price were 99.3% December 2016 compared to 97.8% December 2015.
22 Mililani houses were sold December 2016 compared to 33 houses sold December 2015.
The total dollar volume of houses currently for sale in Mililani is $53.21M and the sold dollar volume year-to-date (Jan 20, 2017) is $7.01M. In previous years sold dollar volume was $238.35M (2016), $207.27M (2015), $192.04M (2014), $187.33M (2013), $173.22M (2012), $154.06M (2011), $156.72M (2010), $140.72M (2009), $178.13M (2008), $236.02M (2007), $249.33M (2006), $247.36M (2005), $182.29M (2004), $141.68M (2003).
The most recent sale in Mililani was a house located at 534 Kulia Street, sold for $660K on Jan 19, 2017. It had 1765sf of interior. 9 other recent sales include: 2632 California Avenue (1,372sf) sold for $560K on 1/17/2017. 95-2062 Puukaa Street (1,385sf) sold for $710K on 1/17/2017. 95-434 Kamahana Place (1,000sf) sold for $585K on 1/13/2017. 95-719 Kahikinui Place (1,006sf) sold for $650K on 1/13/2017. 1165 Iomea Place (856sf) sold for $514K on 1/11/2017. 95-1121 Milia Street (2,206sf) sold for $825K on 1/9/2017. 95-188 Aumea Loop (2,500sf) sold for $840K on 1/6/2017. 94-153 Alake Street (2,730sf) sold for $900K on 1/6/2017. 94-394 Punono Street (2,436sf) sold for $899K on 1/6/2017.
2 of the houses have ocean views and 17 have mountain views.