About Waialae Iki Waialae Iki, known as the original luxury view ridge in Honolulu's real estate market, consists of a little more than 600 homes located above the Waialae Golf Course and Wailupe Beach, bordered by Kalani Iki to the west and Aina Haina to the east. Waialae Iki homes for sale are typically priced between $1M to $3M with most lots between 7,500 and 15,000 sq ft.
Insight to Waialae Iki Homes Waialae Iki homes overlook the beautiful green Waialae Golf Course below with distant Diamond Head and spectacular ocean views beyond. Original developments started in the early 1960’s at the bottom of Poola St, Waa St and Analii St, eventually progressing over 5 phases up the hill along the winding Laukahi St, including all adjacent side streets.
The final phase, at 800 ft plus elevation, is a gated community of about 280 custom homes called Waialae Iki V. Construction started in 1983, from the mid 1900 block of Laukahi St and beyond, featuring a 24 hour manned security gate, a private recreation club and 4 tennis courts. Unique in Honolulu, about a dozen oversized 1 acre estate lots with cooler mountain climate and distant ocean views can be found on Okoa St at the top of Waialae Iki V, which is also where a former Hawaii governor built his home. Several of these rare mountain top estate lots have not yet been developed.
Waialae Iki enjoys a beautifully maintained uncluttered and consistent appearance of mostly upscale properties. Laukahi St, Waialae Iki’s main road, climbs at a modest pace with wide graceful turns passing several open space neighborhood parks, offering amazing views along the way, making for a comfortable ride up and down the hill.
Some of the most dramatic views can be found on the lower part of the ridge, especially on downslope rim lots along Kamole St and Laamia St, commanding premium prices. Association rules ensure protected view channels for the homes in Waialae Iki, mitigating tree overgrowth and regulating construction activity.
Waialae Iki Neighborhood Waialae Iki is a fabulous neighborhood with plenty of possibilities for outdoor activities. At the top is the Wiliwilinui Ridge hiking trail, starting beyond the estate lots at the end of Okoa St, and leading even higher to the very top of the Koolau mountain range. At the base of the hill along Analii St is the large Waialae Iki Park, a popular spot for football, soccer, baseball and tennis enthusiasts. The closest access to the ocean is across the highway at Wailupe Beach Park.
Waialae Iki real estate appeals to many for its stunning views, friendly wide streets and well kept appearance, as well as convenient quick access to shopping and downtown Honolulu. Additionally, residents on the lower section of Waialae Iki have a roaming security service, for a nominal association fee. It is no surprise that Waialae Iki homes for sale often receive multiple offers and sell quickly.
The price range of houses for sale in Waialae Iki is $1.15M to $3.48M with a median price of $1.81M, median interior of 3,116sf and median land size of 9,988sf.
The median price of houses sold in Waialae Iki year-to-date (Jan - May 27, 2017) is $1.71M. In previous years it was $1.68M (2016), $1.63M (2015), $1.62M (2014), $1.48M (2013), $1.28M (2012), $1.25M (2011), $1.33M (2010), $1.25M (2009), $1.28M (2008), $1.33M (2007), $1.21M (2006), $1.23M (2005), $1.09M (2004), $799K (2003).
15 houses have sold in Waialae Iki year-to-date (Jan - May 27, 2017). In previous years, the total number of houses sold were 29 (2016), 28 (2015), 27 (2014), 34 (2013), 33 (2012), 25 (2011), 31 (2010), 30 (2009), 26 (2008), 29 (2007), 26 (2006), 47 (2005), 39 (2004), 50 (2003).
On average Waialae Iki houses were on the market for 54 days before they were sold (Jan - May 27, 2017). In previous years it was 128 days (2016), 87 days (2015), 83 days (2014), 67 days (2013), 79 days (2012), 84 days (2011), 79 days (2010), 73 days (2009), 64 days (2008), 55 days (2007), 71 days (2006), 70 days (2005), 43 days (2004), 70 days (2003).
The average days on market for Waialae Iki houses before sold were 62 days April 2017 compared to 93 days April 2016.
The ratio of Waialae Iki houses sales price vs list price were 98.0% April 2017 compared to 97.3% April 2016.
4 Waialae Iki houses were sold April 2017 compared to 2 houses sold April 2016.
The total dollar volume of houses currently for sale in Waialae Iki is $37.75M and the sold dollar volume year-to-date (Jan - May 27, 2017) is $27.81M. In previous years sold dollar volume was $47.51M (2016), $47.31M (2015), $45.85M (2014), $53.34M (2013), $45.72M (2012), $31.5M (2011), $41.15M (2010), $39.18M (2009), $34.29M (2008), $40.45M (2007), $36.06M (2006), $58.9M (2005), $42.06M (2004), $42.35M (2003).
The most recent sale in Waialae Iki was a house located at 5285 Panalea Place, sold for $1.89M on May 08, 2017. It had 4434sf of interior. 9 other recent sales include: 1779 Hanahanai Place (3,236sf) sold for $1.7M on 4/26/2017. 1431 Kamole Street (2,437sf) sold for $1.66M on 4/21/2017. 2390 Okoa Street (4,823sf) sold for $3.55M on 4/18/2017. 2063 Omea Place (3,223sf) sold for $1.71M on 4/7/2017. 5365 Poola Street (2,260sf) sold for $1.28M on 3/24/2017. 1581 Kamole Street (1,632sf) sold for $1.37M on 3/17/2017. 1758 Kumakani Loop (2,202sf) sold for $1.5M on 3/3/2017. 2203 Laukahi Street (3,352sf) sold for $1.98M on 3/3/2017. 2270 Okoa Street (2,754sf) sold for $1.75M on 2/24/2017.
20 of the houses have ocean views, 14 have Diamond Head views and 12 have mountain views.
Waialae Iki History Wiliwilinui was once the name for this entire ridge, given because of the wiliwili trees that bloomed here so beautifully. The famous trail at the top still bears that name, while the rest was later renamed Waialae Iki after the Waialae Springs.
The water from these springs was reserved for the chiefs only, watched over by trusted keepers who passed on the duty through generations. By the 1800's they had been forgotten until Kamehameha III chanced to walk through the area and asked an elderly couple for some water.
He was astonished to learn that they were the current guardians of the springs, keeping alive the line that stretched far into their family history. They were still there specifically to serve the king water if and when the need arose.
The ridge did hold a small collection of residents, but didn't see much activity until World War II. The fear of invasion prompted the US military to build Battery Willy at the ridge's high point, using gun turrets from 2 aircraft carriers. They remained here until 1944, when there were no more threats to the Islands. The bunkers are a popular attraction for hikers today.
It took another 20 years for Waialae Iki homes to begin appearing, beginning at the bottom of the hillside. Streets and homes slowly emerged higher and higher on the ridge over the years, the topmost neighborhood, a gated, luxury enclave, finally coming to life in the 1980's. Homeowners now enjoy not only tremendous views every day, but also free access to the water, royalty or not.