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December 19, 2024

Honolulu City Lights Celebrates 40 Years

Honolulu City Lights, a beloved holiday tradition, celebrates its 40th anniversary this year with an even more spectacular display in downtown Honolulu. This milestone celebration features an enhanced light display, including 250 feet of lighted tunnels, 50 illuminated trees, and festive decorations along Alapa’i and Beretania Streets.

Beloved returning attractions will once again delight attendees. Shaka Santa and Tutu Mele, iconic symbols of Honolulu City Lights, will be on display, offering photo opportunities and holiday cheer. The popular wreath contest, showcasing creative and festive designs, will also return, adding a touch of local artistry to the celebration.

Shaka Santa and Tutu Mele Honolulu City Lights Sponsors
Holiday Lighted Tunnel City Lights Christmas Tree

Honolulu City Lights continues until the new year. Admission is free. This 40th-anniversary additions a must-see for anyone in or visiting Honolulu, offering a unique experience of Hawaii’s holiday spirit.

For more information, visit the official Honolulu City Lights website.

December 17, 2024

Fallingwater of Honolulu: Historic Nisbet-Designed Home in Diamond Head Hits the Market

A piece of architectural history has become available on the market in Honolulu. “The Crest,” a stunning oceanfront residence in Diamond Head, originally designed by Earl Nisbet, the renowned apprentice of Frank Lloyd Wright, is now available for purchase.

4131 Black Point Place - Aerial View

Known as the “Fallingwater of Honolulu,” 4131 Black Point Place is an iconic home boasting unparalleled ocean views and a unique blend of historic charm and modern luxury. Nisbet’s design, inspired by Wright’s Organic Architecture, seamlessly integrates the home with its dramatic cliffside setting. This masterful integration maximizes panoramic views of the Pacific Ocean from every room, creating a truly breathtaking living experience.

Reimagined and modernized in 2016, “The Crest” offers a luxurious and contemporary living experience while preserving its original architectural integrity. The thoughtful renovation has seamlessly blended modern amenities with the home’s historic character, resulting in a truly unique and sophisticated residence. The 3-bedroom, 3-story floor plan provides ample space for comfortable living and indoor/outdoor entertaining, allowing residents to create their own unique vision within this historically significant Hawaii retreat.

4131 Black Point Place Primary Living Area

4131 Black Point Place Entry Seating Area

Situated within the exclusive gated community of Black Point, “The Crest” offers unparalleled privacy and security. With an additional private gated entry, residents can enjoy a secluded and serene lifestyle in one of Honolulu’s most coveted neighborhoods. This is a rare opportunity to own a truly unique and iconic piece of Hawaii’s architectural heritage.

For more information on 4131 Black Point Place, contact Sachi Hawaii:
(808) 596-8801 | info@sachihawaii.com

December 17, 2024

Hawaii Real Estate Market Update: November 2024

Honolulu’s real estate market showed positive signs in November, with both single-family home and condominium sales experiencing double-digit growth compared to the same period last year. According to the Honolulu Board of REALTORS®, single-family home sales rose by 12.8% with 203 closings, while condo sales jumped 10% to 341 closings. Despite these increases in sales volume, median sales prices remained relatively stable. The median sales price for single-family homes was $1,115,000, a 1.4% increase year-over-year, and the median condo price reached $530,000, a 2.7% increase.

Single-Family Home Resales

Number of Sales Median Sales Price
November 2024 203 +12.8% $1,115,000 +1.4%
November 2023 180 $1,100,055

Condominium Resales

Number of Sales Median Sales Price
November 2024 341 +10.0% $530,000 +2.7%
November 2023 310 $516,179

Source: HiCentral

This positive trend is attributed to a combination of increased seller activity and sustained buyer demand, leading to what the Honolulu Board of REALTORS® describes as a balanced market. Notably, the $900,000 to $1,199,999 price range for single-family homes saw significant growth, with a 66.7% increase in sales compared to November 2023. In the condo market, the $300,000 to $599,999 range dominated sales, accounting for over half of all transactions and showing a 25.5% increase in sales volume.

While more single-family homes sold above the original asking price this November (26% compared to 21% last year), fewer condos did so (12% compared to 19%). Single-family homes also spent slightly less time on the market, with a median of 24 days compared to 29 days last year, while condos saw a slight increase in median days on market, from 23 to 32 days. The number of new listings also increased year-over-year, with single-family home listings up 11.2% and condo listings soaring by 30.9%, particularly in the higher price range of $1,000,000 and above. Active inventory also saw increases compared to last year, indicating more options for prospective buyers.

As always, the Honolulu Board of REALTORS® recommends working with a qualified real estate agent to navigate the complexities of the Oahu market.

If you’ve been thinking about selling your Hawaii property, contact Sachi Hawaii today:
(808) 596-8801 | info@sachihawaii.com

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