04/22/25 What's Up In Hawaii Real Estate LIVE w/Core Team Hawaii

Hi, hello, good morning, um Today we're gonna do a little bit of an update talk story with you guys about things that are going on with us with our team with our clients um Derek's not here today His son is not feeling so good. So he's Doing the dad thing and I actually have a ton of work that I need to catch up on today as well So we're gonna leave it to the bradas today Aiden who i'm sure if you guys work with us and you know, you know that aiden is just so pleased to Be on camera today and kenny is gonna step in and sub me out in a little bit too But before I hop out and we let them get after it. Um Quick updates from me. We had a closing today. Um, kenny and I partnered on one He'll tell you guys more about it when he comes in Um, we also are now live on our kaneohe listing. This is loihi. It is Walking distance. It's right around the corner from ho'omaluhia botanical gardens. It's 9 50. It's like an attached single family. Um walk-up unit I also learned from the sellers that you know how if you watched our video on sunday, um kaneohe We referenced this listing We talked about how like, you know, you go to the garden. It's like ho'omaluhia botanical gardens always get like influencers in the wild You know, so it's like impossible to like get a nice view of it It's impossible like you drive in you're like obviously this is serene af But you can't always enjoy it that much If you've got a like a long line of you know Tourists or passerby's or people coming to that side of the island to enjoy it sellers. Let me know that there is a pedestrian entrance By the gate so before it opens You can go walk and do whatever so you can just go through the pedestrian entrance before the gate opens to let drivers come in So pro tip go before the park open because you can have it private you can have the whole You know mountain range there. Maybe pick a rainy day so you can enjoy some waterfalls. But um, yeah If you have clients who are interested in kaneohe and the single family home prices look unreachable Um, let us know it's a large two-bedroom super spacious It's like an attached single family zero maintenance fees zero hoa like any kind any association or maintenance fees So let us know if you're interested. Wow, go to coreteamhawaii.com fill out the contact form Um, and we'll talk to you about it more. But um, what is it listed at 950 950 950 two-bedroom two-bedroom large footage 1200 I always say 12 000 i'm like that's not right 1228 I believe square feet two full baths as well Plenty storage all throughout walk-in closet in the primary as well as a regular closet as well as two closets in the hallway As well as a storage closet downstairs um Which you can just it's locked. It's a secure door, but you know dry storage downstairs as well. So plenty storage Don't worry about that. Um, yeah But we're gonna leave aiden and kenny to it so as usual drop some comments drop some uh questions in the comment if you Have anything that you want to talk story with us about um, we'll try to hit that today And if not today then on the next one Thanks, huh? Thanks all for that Um, no, don't share my screen yet, um What what what what is happening everybody? Um, please drop questions in here. Uh, please. Thank you um I Well, I was elected to uh come and do this live on very short notice um Yeah, i've got some showings today. I got to do get to after this and Offers to write comps to run. Um Listing admin stuff going on. We have a our milani single family home the green one. It is under contract. We had uh, one open house Um and six all above asking offers To deal with so we have one in espro right now getting a backup all set and That's enough about me. What what's going on with you? I heard you have a closing That happened. Uh today. Yes, my and I uh collabed on one in uh, the westlock area, so, uh congrats to the crumptons and uh, excited to see them get moved in they have two fur babies a dog and a cat that are Anxiously trying to get out of the uh hotel room and into the house in the backyard. So um But they've also got you know military life. Yeah, so there's Husbands at work doing in processing stuff. They literally just arrived. Uh, Thursday of last week got the keys today. So i'm super excited to see uh them get moved in and and settling a little bit Um, I have a question back to you real quick. Where are those showings because I have some too. So let's I have in uh, pearl city Okay, I have a condo to look at And this buyer profile is a little odd very not what you would expect Okay, so buyer profile is um Single guy, but he's married his wife is in Another state, but he does a lot of work travel. So he's here a lot. Okay um and His goal since he is going to be traveling a lot not occupying it the whole time is buying something that isn't updated Looking for something to pseudo flip pseudo live and flip. Okay When he's off island he's going to be able to manage the um Renovations being done because he's not going to move in. Okay, so like he can just put like a plastic cover over his luggages God have the flooring ripped out have the updates being done and then when he comes back you have that that is a little different So it's not like a conventional like buyer that we would typically work with Not that we don't want to work with um, but it's not a buyer profile that you usually see too often fun new different It's a yeah, it's a different way of like underwriting, you know entry cost versus um, right Appreciation as as well as forcing the equity into the home through renovation, right? So yeah, this is a little different one. And then we have another one closer in um, like the salt lake area Okay, cool. Yeah, i'll be out in macaw or second day. Um We have a client that's coast guard going to be out at barbers. So and he's just uh Admittedly likes quiet peaceful calm doesn't want to be in town. Not not much into the nightlife thing um If he wants to go inject a little bit of that as a young single guy He'll go to town and meet the buddies. There you go, but he'd rather be Just surfing and you know away from it all so he loves, uh, the macaw valley and kind of Almost in a retiree's type of mindset just wants to disconnect at the end of the day Not live too close to base not live on base And not live in town where all the other soldiers of coasties airmen like he wants to be secluded. He wants to Dip out and go do his own thing. So like macaw valley towers kind of thing towers and plantations We're looking at okay. We looked at just towers yesterday and then plantations and one more towers popped up today Towers is uh, depending on which stack you end up in. Yeah, like you could get a pretty mean ocean and mountain. Yeah, he's He's into that. So we'll be at the highest floor today. The one that popped up is 13th floor. Okay, um, and it's 28 So it's back in the valley a little bit Which in a weird way opens up more ocean because it kind of like across the rock crop. Yeah and so He's keenly focused really on just that which we don't get a whole lot Like there are people we we come across that we're hoping that like macaw and we'll consider it But then maybe end up somewhere closer because amenities and the connectivity to um, and you know infrastructure and Big box stores and things like that. He just doesn't care like he'll he'll go in and grab his costco stuff for A week or a month. He likes to cook. He likes to game. He likes to just do his thing He draws and colors does painting and stuff like that. So super cool guy. He's on island just uh, Until the end of the day tomorrow, um, and then he'll be he'll be ready to Pull the trigger in the next couple of weeks. So looking forward to that. Um, We have some listings going on as well. I know mahe mentioned. Um, loihi out in kaneohe You're talking about bililani already being under contract. That's quick turn. I'm sure sellers are happy about that Um, we have eva beach coming up. Um, we actually just got uh agreement from Those clients that are selling uh that they'd want to do coming soon. So Stay tuned for a coming soon and uh, probably go live early may for second week of may ish So stay tuned for that. It's a it's a little bit different thing Um, you have any like pictures or anything? We're i'm gonna go get some early pictures tomorrow and then so maybe next week's live Tease a little bit of that and see how it goes um, but it is a different thing if you Are thinking of a beach coppola, but in a master-planned community Um where there is some hoa attached whether that's a couple hundred four or five hundred a month something like that um but those homes are a little bit smaller and Because of the fees there's a little lesser of a buying power situation This might be the nugget that you're looking for. So stay tuned for that. We're we're Optimistic that we're going to have something unique. There's really nothing in that area on the market right now so Keep an eye out for that. Um, again, if you guys have any questions or anything, please drop them in the comment and uh, Let us answer some questions for you. Um, oh pili you want to we've got any new stuff going on new construction um, yeah, I mean there's there's um Kapili and alana most notably most buyer pool for those types of homes. What's interesting is that um, those Townhome I would consider them townhomes considered condos The way I distinguish condo versus townhome is like elevator. No elevator. Yeah, if you got stairs only like It's a townhome townhome, but if it's like five stories and you're like, all right, like it's a walk up. Yeah, but uh, Oddly very odd don't see a lot of condos You don't see a lot of townhomes with garages. Yes at the price point you're getting them for Which is Like usually you think okay townhome with a garage you think like mehanas. Yeah, like mid sevens. Yeah couple of kilos Beach ocean point you've got a like two complexes in pearl city that have them but to have it brand new um one one open stall and one Actual garage At that price point brand new is just unheard of it's awesome and they have a special that they've just uh put out that Surprised me. Um, this is sort of opposite what the financial side of the market is doing and that's probably why they're Competing with that that that bonus so if you're interested in new construction if we've already been talking to you about hope healy or if you've looked at that And have more questions let us know but you've got 4.99 offered on certain homes um, and then they're doing some extra Closing costs yeah cost incentives as well. So, um hit us up and and we're happy to Um give you the deets on that stuff. Um also have we have a specific client that's um Basically they only want nanea at koa ridge, which is uh castle and cook new build stuff in ypo um They're about to release Um, we we they won't tell us I promise you we're not hiding it from you They don't let us know until uh, they let the public know but uh, I am checking that daily for a specific client That's actually off island right now doing family vacation And uh, they want nanea they want nanea three they want a specific plan they want really They want a very like fifth bedroom option Uh, they don't want the open two-story ceiling over the living room. They want that closed off with a fifth bedroom Castle and cook actually allows to do that right and that's the build on yeah Dr Horton and gentry don't deviate like they're gonna build this thing and there's three four Floor plans and pick one and these are the lots that those homes are going to fall on castle and cook actually allows for some Very mild modification to the floor plan. You can do an upstairs open den and they'll close off the ceiling It'll still be nine foot from first floor to ceiling Rather than being all the way open and just having you know, go upstairs and just four bedrooms Um, they'll do a fifth bedroom or they'll do an open den they've got some options there that are really cool So, um, and it's just centrally located. It's a great area for um the launch right for North shore or town or west side rather than being all the way on one side or the other And plus costco is like a right there too. Yeah costco Foodland Starbucks, aren't they building a target there too? There's the plan They so they stopped on the Mid-rise condos that were going to be sort of competitive to the heli And because they wanted to focus on commercial side and they they've said that they have full commitment For a big box, but they're hush-hush about who it is I've heard the same but I don't want to know. Yeah, I don't want to spoil or Be too far out in front of that those condos in coleridge man, I I hope that those aren't the prices They're I was looking at them like wait a minute it was last year. I don't know if it's changed but I was like wow, like you guys are wow, i'm i'm told by the coleridge sales office that they're They're not really even considering maluku Until commercial is fully committed. Oh, really? I don't know that they'll necessarily wait until everybody's in on the commercial side within the community but they want full commitment before they Pivot back over to condo. So I think nenea three is going to be their full and sole focus until that's Occupied or everything's reserved and then maybe we'll see a pivot. That's interesting. Yeah All right, brenda, thank you what's up, um Brenda wood. Yes. Can you define pending under contract contingent? um Probably a couple of different definitions, but on on the simple side Under contract and pending are basically the same thing. It's a It's a verbiage or a wordplay pending usually means the seller prefers not to show it any longer under contract and still active means we have an offer that's accepted and we're in escrow, but You know, maybe there's a few little pinholes in that that the seller still wants to continue to keep actively showing the property um So that's pending and under contract contingent generally just means either the seller and or the buyer Buyers contingent on selling their property before they can close on their loan to buy said property or the seller Is contingent on leaving? Until they find that replacement property. That's usually what contingent means contingent isn't a listing status Pending and under contract is a listing status Um active obviously is active it's on the market Um when an offer is accepted It'll usually go into under contract meaning that we're in escrow working on something, right? And then usually pending happens later in the active under contract if at all. Yeah, I know some agents They're like they go active under contract or under contract then go to pending in the third week of escrow As a sort of saying like hey, we're locked in like we're good. Yeah You know, so sorry, but we're we're tracking towards closing yeah, but it's really agent dependent it's not like a um A standard that agents use. Uh, it's just more of like how the agent wants to operate like for us for example We won't put things in pending. We'll just leave it as active under contract. There's no Like law or fine that you get it. You're like, hey, you didn't go into pending You didn't put it into active under contract. You went straight to pending. It's just a preference Yeah, could be could be broker requirements Some brokers might say you have to do it this way, but I think it's probably driven by the seller's preference of Nope, I like this one and and I feel good about it. So I don't want to show it anymore Yeah, maybe that might be on a convenient side. It might be they might have owner occupied You know, so there's there's a lot of nuances to that that um, you don't necessarily Need to get all the way deep into generally speaking though. It's just a matter of um seller preference. Um, Another question from shaka taka, what do you guys think about buying in kailua right now? the that's a That's a such a general question. It's hard to answer in a very skillful way. But uh Feeling about kailua Why are people going to kailua? It's uh, it's that postcard picture of hawaii if you're not in waikiki diamond head. Um Kailua tends to be one of the more insulated pockets of oahu If you think of the nation as a whole right when kovid hit When prices started to go down after the interest rates started to rise There's still markets in the us that are still recovering from their pre-covid numbers Oahu is a little As a whole recovered a bit quicker because we're a rock in the middle of nowhere with finite amount of land so it's not like you can just go out and 20 miles south and just go build a whole nother development. There's just very limited amounts of Land here Now you have very sought out places places like kailua places like bililani places like manoa where the developments have been developed They're not building anything new the supply is there Um and kailua tends to be one of those places like right after kovid when prices drop kailua mililani kaneohe Manoa those are the ones that popped up the quickest. Yep, and they didn't they didn't drop So What do you think about buying in kailua right now? good hedge A hold it for a long time. Don't buy a house and sell it in a year Um, I think you could say that generally about all parts of real estate Um, but the cost to entry in kailua is very high. So that's I guess the downside of what kailua is Yeah, it's been a couple of weeks since I did any really deep dives on specific properties for clients in kailua, but At last really specific check for me, I would say um prices slightly dipped, um, and If there is such a thing as a better entry point for kailua, I think that the timing could be good there. Um, But it's still gonna have it's still a very very high entry level. Uh, just for for the The broader picture the three to five years back and forward picture I would say timing is probably pretty good for kailua at the moment. But um It's still a really tough market to crack into and the right home at the right price In the right area in kailua is still gonna crush And have multiple offers and the traffic is still heavy and I think that's probably if I was to give a broader zoom out 30 000 foot Uh suggestion it's just just always going to be that way at kailua. Um Inventory you spoke to to just land demand, uh And and just the lack of inventory its properties as well There are more properties for sale and there are in some areas homes that are on the market a little longer than normal, which just kind of circles back to if there was a timing for a buyer now would I would think would be closest to that that we might ever see yeah, or and it's hard to say you don't want to say ever never or always in real estate, but Could be good right now. Yeah there when it comes to buyers and approval levels or approval prices. There's like a Slope to that curve, right? a 2 million buyers approved for 500, but the odds of a 2 million buyer looking in 500 is low, so Amount of buyers looking in specific ranges now you have the most between that 350 to 800 000 those are your townhome condo levels 800 to a million that's where you start breaking into the You know entry-level single-family homes here and the million to 1.2 1.3. That's where you have the most single-family inventory um, that's I don't want to say within reach but realistic like Those uh Suburban neighborhoods you have those prices and then when you get to the 1.5 plus You have the least amount of buyers in that buyer pool, but you have the biggest fish that play in that pond So when it comes to kailua and kaneohe these bigger single-family homes are the ones that are have nice views that are looking out Into the bay next to the ocean you have the biggest you have the smallest amount of buyers, but the Biggest fish that play in that pond so it is very competitive That's where you see the highest down payments, you know, you see a lot of the cash coming in um a lot of competitiveness Escalation clauses, especially in this market Uh, we have a client right now actively looking in kailua and we actually have a listing that's coming up in kailua as well um four bedroom four and a half four bat four bedroom four bath, uh with Plans are ready with the dpp to make an adu so one of those very very unique things very um Has a lot of character like it wasn't a flip to make it like this sterile gray white, right? What is it called millennial gray or millennial gray? Yeah, it's you know, you've got the wood tones You have the warm tones all that stuff um are the prices Meg says are the prices Too high there core ridge or something you said you hope those aren't the prices that was for malucoa the tbd the tbd yeah, I condos I was Yeah. Yeah, I I saw a price sheet um Last year. Yeah One of the reps sent it to me. I was like 9 50 for a three-bedroom. What the heck? Yeah, 9 50 for a three-bedroom and you got a hoe tacked on top. Yeah, like that's if you think of that numbers wise that's like a million Maybe up to 1.1 in purchasing power that gets you into single family so seeing how competitive those condos would be is interesting and if their play Cole ridges play is to say hey, let's fill up commercial Is it more to bring bustle and boom to the area to justify those prices and that's why they're holding off? I don't know. I don't know why and meg may be onto something here because there's a follow-up question to that same thing besides Waikiki and kakaako Um, what do you think are the neighborhoods, uh that should be considered for considered for walkability, um If walkability is important to you, and so parts of kailua parts of kailua for sure. Um a little town. Yep uh, there's I I just call it condo row and kailua. Yeah, it's got different names to it. But aloha street, um that to answer your question Aiden's hit on one spot. Kailua has a specific street that's just Across the street basically from kailua town. So you have the breweries and um the hot yoga and power yoga coffee shops whole foods whole foods and ufc gym and so there's a little bit of Incorporated big store stuff, but then there's also a lot of very local village vibes and it's very very walkable and it's You know, we're have to be careful using the word walkable But it's close enough to the water to where you can walk or ride a bike or something. Um, so definitely that one I think just to round out those two questions for you. Megan. Thank you for them as um Malukoa I think their prices are going to be up there and the reason they're holding off is to more justify it by putting additional commercial stuff within The master plan community that is all of koa ridge So that it's more walkable There isn't really anything that's going to be the same as waikiki kakaako from a walkability standpoint, but kailua Definitely gets close to that. It's just a different vibe. It's more village verse versus like Dense urban city life. That's a good way to describe it and um I think malukoa if and when it ever happens is going to be similar to um More of like living in kapolei Where they don't have these things other than nahele Like if you're in mehana and you're in a townhouse over in mehana Could you walk to? Kapolei commons. Yeah, you could there's foodland. There's target. There's alta there's food foodie spots island vintage brewery that that kind of stuff or island um So there are some spots but It's not going to be waikiki kakaako. So if you really high walkability can be a different definition. That's what i'm trying to get at if you require and desire to be able to just get on a bus or Be able to walk to anything and everything from theater to work to play to the beach to the food I don't know that Any of these other spots really line up with waikiki kakaako, but if there were a few simple compromises or you Had a secondary desire of a little bit more space and you do have a car if you need it, then that kailua town and Kapolei spots nahele at ho'opili They do have three rail stations there. So that maybe helps Malukoa won't have that they're too They're a little bit too far detached from the rail for that to be a thing that they could compete with But anyway shot Challenge mehana. Yeah kapolei. Yeah, it's Not what you would think when you say the word Walkable, right? But it is in very close proximity to shopping centers If if walkability was more just I I don't want to have to drive to dinner Or I don't want to have to drive to the theater to go watch a movie um That it's attainable. You're just you're not walking city streets You're walking through suburbia and crossing a few main major street crosswalks. Yeah, kapolei parkway. Um, So meg, hope that helps. Um, and I think that sort of Answers a little bit of shock. I lost it on my does buying a studio in town ever make sense? um Individual like if you're buying a studio Probably you work in town. I don't know uh town parking is very hard, so Sometimes even one bedrooms don't even have a parking spot depending on where in town though I've got a couple of buyers that are absolutely Struggling with that like I have a car and I need a car. I want to live in town But i'm going to be working 20 minutes away. I'm going to be working at uh, manoa. Oh, yeah, something like that, right? And so The one ones with no parking Are priced accordingly. Um studios It hits on probably the one thing that Maybe drives the question like does it ever make sense if you're working in the financial district single guy? um And you just need a spot to hunker down you don't want to rent You're going to be there for a long time. Yeah, maybe it does make sense um Appreciation of a condo or of a studio condo I think you would have to look in the building itself. Is there a lot of condos in or sorry? In that condo is are there a lot of studios in it? Because what you don't want to do is buy the most the smallest most unique kind of property in a building that doesn't have Comps like it because on the exit it's going to be a lot harder for you to just maximize that value even though you're like hey like You can sort of justify it how a buyer and buyer is going to react is hey, let's look at the comps Let's look at what's sold and if There's nothing that's sold that's similar to it or the the closest thing is a one bedroom it's going to be a lot harder to hone in a true value and bring that value to reality and bring the buyer and the seller to a Price that's agreeable to both. Yeah. Yep. It definitely don't want sometimes a single family home in an area That's unique is a bonus bonus But in this case, I think the opposite is true. And I think it could also be for single family too. It really depends Uniqueness is a double-edged double-edged sword. Yeah, right because When it's unique it's harder to justify a objective value based on comps and it's more of the subjective Opinion of the buyer right and the emotions around what the buyer wants that gets them to a higher price Which is typically the case for unique property, but then on the exit if you need to turn and sell that in three years it's tough right because you're like the closest comp and all the other ones that sold aren't very similar and um Yeah, it's just something to um Something to think about and I think Aloha state of mind One of the first questions that you want to ask yourself is how long? Can you truly hold on to that property before you move out of it? Yeah Diving into just a little bit further. Uh, is it is it in the condo hotel rental pool If you're gonna live in it part-time or Want to be able to rent it out if you're here for three or four years for school or work or military, for example um Can you hold it longer? Can you rent it out? And can you rent that out in a mid-term or short-term? uh capacity and There's a lot of pragmatic details on numbers to make it make sense and So that would be a conversation we'd be open to and we've we've definitely worked with clients that Have walked through that and some of them have said nope doesn't work Some of them had said yes, it absolutely does and I would much rather Even just take a smaller margin at at the exit side than to have rented and just given somebody else uh, all of all of that money, so it can uh, it's uh Case by case so definitely would love to have a deeper conversation with you. Aloha state of mind. Thank you for the question um How we doing on questions can't you we good Meg Oh, yeah. Yeah, we touched on megs. We touched on megs. Um cool, I Really just uh I think we're good for today. Um Let us know if you have questions about ho'opili and the specials that are out right now We can get more into the weeds with you on uh the homes that are uh Attached to those specials as of right now. My understanding is I think it's Everything that's standing and then capelian alana Um, but reach out to us. Let us know if we can answer any further questions for you on certain plans or anything Um, i'll be showing a client this week. Hopefully. Okay, cool Um, it's more in-depth. Oh, and I have a whole pina closing coming up. Oh nice nolan and irish. Congratulations Yes. Yeah Uh I think we're good, please. Uh Hit the website go down to the bottom fill out the contact form. We'd love to answer more questions for you Anybody that put questions out there again, uh mahalos for Connecting with us on the live if there's anything deeper we can discuss with you. Please feel free. Let us know We will