MARKET REPORTINTEGRITY - HONESTY - EXCELLENCE

2010 Average Sales Price Per Transaction for Top 8 Oahu Brokers in Sales Volume, Jan-May 2010

View Larger Graph As part of Choi's commitment to excellence, our Market Report ensures that each client has access to the most up-to-date real estate market information for their specific needs. Buyers and sellers can obtain current information and statistics that allow them to stay apprised of market developments, alert them to dynamic trends, and ultimately enable them to make practical, informed decisions on their investments.

View the latest Honolulu Board of Realtors' MONTHLY STATISTICAL REPORT which analyzes residential resale activity on the island of Oahu.

LUXURY SINGLE-FAMILY RESIDENCES
HONOLULU, HAWAII

Press Release: June 2010
Patricia Choi, President & Principal Broker of Choi International has been named Honolulu’s #1 Broker at a special presentation at the Royal Hawaiian Hotel. The leading brokers from each island participated in a panel discussion, where Patricia noted the increase in demand for Honolulu properties since October 2009. Prices for luxury homes are stable and sales have been steady.

Recently, Patricia closed on an oceanfront home in Portlock for $7.8 million, which is the high sale for this year. 

This is the 14th year in a row that Patricia has been the #1 Broker in Honolulu.

For Non-Resident Buyers – Prices are Stable
First of all, Choi International is the leading luxury real estate company in Honolulu and has been for the last 14 years. From January through May 2010, Choi International represented Buyers & Sellers in 50% of the sales in East Oahu over $3 million, and has an average sale islandwide of $2 million.

In comparison to the other top 7 companies ranked by sales production, our leading average sales price per transaction shows the concentration and focus of Choi International in the Luxury market.  If you are considering buying a home in Honolulu, our professionals have the market knowledge to provide guidance on the best home for you. 

For those Buyers from the mainland United States or from foreign countries, you should know that our prime luxury properties are still in demand. Honolulu has not suffered from catastrophic price adjustments. Our best neighborhoods of Kahala, Diamond Head, Portlock, Kailua and Lanikai have done well during the economic turmoil of the last few years. While there have been price adjustments in the order of 25%, prices have stabilized at an understandable and, in our opinion, a sustainable level. It is not a supercharged real estate market, but it is a market that appears to be reflecting the value of worldwide demand for a temperate climate, pure air and water, safety, terrific health care and for an island culture that appreciates the natural beauty of a tropical paradise.

For Resident Sellers & Buyers
Prices have reached a point of equilibrium, however, that still does not mean that the kind of premiums we have had in the past are attainable. Pricing a home requires a realistic evaluation and working with a qualified agent. General statistics have little meaning and it is critical to get specific market information from qualified agents. 

Given the need for more focused market information for the luxury neighborhoods, it is apparent that Buyers and Sellers need help from agents specializing in luxury real estate. Choi International’s agents have accrued the highest per sale average of the 8 most productive companies in Honolulu, because we specialize in the luxury home market. We are specialists in the luxury market, with vast market knowledge to assist our clients in the purchase or sale of high end homes.

The best way to determine what to buy or sell in a specific neighborhood is to have your real estate agent prepare and review a Comparative Market Analysis with you. For example, the MLS service permits us to do searches within very discrete neighborhoods, like Kahala, Black Point, Diamond Head, Lanikai, Kailua Beach and others.  It has been our experience that those neighborhoods are less volatile than the market as a whole, reflecting the worldwide demand for spectacular Honolulu properties in outstanding locations.

Choi International stands apart from other companies in our emphasis on representing buyers and sellers of exceptional properties. For further information, please feel free to e-mail us at hawaii@choi-realty.com or call us at 808-734-7711.