Hawaii Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

July 20, 2020

What Does The Real Estate Comeback Look Like in Oahu, HI?

Beachfront Waimanalo Hawaii

Though COVID-19 hasn’t struck Oahu, Hawaii as hard as it has mainland, the real estate market has suffered. However, agents expect it to bounce back, and here’s how!

The closest thing Americans get to a tropical paradise is Hawaii. With its sandy beaches, friendly faces and beautiful waters, how could you not want to grab your own little piece of heaven? At the beginning of the year, there were billions of dollars flowing through the Hawaiian real estate market, but since COVID-19 continues to plague the United States, the market in Oahu has taken a hit. 

The question on many people’s lips is whether or not it’ll bounce back. In fact, as of June 24th, 49% of real estate agents say business is improving despite the current circumstances and 23% say things are holding steady. 

So, what can we expect for Oahu’s real estate market in the second half of the year? Let’s take a look!

Housing inventory in Oahu

If you were to look at 2018’s housing market, you’d notice that the number of single family homes that were being put on the market increased by 7.5% while the number of condos going on the market actually decreased by 7%. You would think that with more single-family homes being on the market, it would be easier to find affordable housing. That isn’t necessarily the case. 

Even though the interest rates are at an all time low, buyers are having a difficult time trying to purchase a house because inventory is low, therefore making it a seller’s market. Why, seller’s are often getting multiple offers on their property!

Low interest rates

With mortgage interest rates being so low, it would be an excellent time to refinance your house if you already have a mortgage. However, because of the rise of unemployment and large numbers of applicants requesting mortgage relief and forbearance, lenders are more hesitant to lend out money. Lending companies are increasing their qualification requirements and some people who may have been approved before the pandemic may not be approved now.

As a buyer, you need to keep an eye on your debt and your credit score. Try to keep your credit usage below 30% and always pay on time. By doing these things, you’re giving yourself a better chance of your application being approved. 

Decreased housing prices

June 2019 was a great year for Oahu’s real estate market. 327 houses were sold and the median price was a whopping $800,000. However, fast forward to June 2020, business wasn’t as good. Only 302 homes were sold (a 7.5% decline) but there was only a slight decline in price, the median being $770,000 (a 3% decline). 

The sad reality is, we don’t know what to expect going forward. Will people still be hesitant about putting their homes on the market out of fear of COVID? Will prices continue to drop due to economic struggles? No one knows. 

What we can say is that the market will continue to work in the seller’s favor. Sellers who have been toying with the idea of putting your house on the market for some reason or another, now may be the perfect time to do so. As more and more people (Americans and foreigners alike) decide to make Oahu their home, they’re going search for their dream home, get a mortgage while rates are low, and it’s possible that a bidding war could start on your home. 

Just remember, the coronavirus may have caused the country to come to a grinding stop, but people are always going to need housing - even if it that housing is a beach house!

July 16, 2020

The current real estate market

Here’s How Real Estate Is Making a Comeback Post COVID-19

Lanikai Sunrise Hawaii

We are now in the second half of 2020 and months into the COVID-19 pandemic. Although many industries have had to pause or scale down operations, the real estate industry is still going strong. Despite the recession, housing prices in many areas have remained relatively stable, and in some markets, they are increasing.

 

Many experts agree that today’s housing market is going strong because lenders have tightened their lending standards after the 2008 housing crisis. Additionally, since the coronavirus pandemic is not caused by economic factors, its impact is not specific to the real estate sector.

 

Even with those positive facts, many property owners are asking whether they should sell there home during the corona virus pandemic or wait until things settle down. It’s an understandable question, however given the uncertainty in the world today, and the fact it is impossible to predict the duration of the pandemic, homeowners shouldn’t wait to sell their homes because of the pandemic.

 

Below is an overview of the current state of the housing market and the ways real estate professionals are transforming the industry.

 

In early to mid-April, the impact of the pandemic on the housing market peaked. 78% of agents reported that buyer activity had declined in their market, and 87% said that they saw buyers put their home searches on hold due to the virus.

 

Although this lack of demand would normally cause home prices to drop, many sellers pulled their listings from the market. 76% of agents reported that they have seen seller activity decline at the start of April and 66% had seen sellers take their homes off the market.

 

Since June however, 79% of agents reported that the market tipped in favor of sellers and that it is now business as usual in their market. Much of this success is because real estate agents are taking new approaches to selling property during the pandemic.

 

One of the most notable shifts real estate agents have made during the coronavirus pandemic is hosting virtual open houses . These involve real estate agents using web conferencing tools such as Zoom, Google Meet, and Facebook Live to livestream walkthroughs of homes to prospective buyers.

 

During these events, buyers can ask the agent questions and receive answers in real-time, and even request that they home in on specific areas or revisit a room. While many buyers require an in-person visit before making an offer, virtual showings enable sellers to limit in-person showings to serious buyers.

 

Lenders are also adapting to the pandemic by allowing buyers to use alternative appraisals to secure a mortgage. Rather than an appraiser conducing an in-person walkthrough of the seller’s home, they instead review tax and MLS records, along with other information to verify whether the home is priced fairly.

 

In some cases, the appraiser will drive by the property, have the homeowner conduct a walkthrough of the home via web conferencing software, and/or reference inspection reports that were prepared by others.

Feb. 8, 2020

Honolulu Hill Top Sanctuary

Tantalus Mountain Top Estate

Tantulus Honolulu Estate

Family compound with 9 lots totaling over 2 acres. Build homes for your children or just to sell. This property has been in the same family for 100+ years and is the first time being offered for sale to the public.

Tantulus honolulu home for sale

Enjoy fresh cool mountain breezes, singing Hawaiian songbirds & views to die for of Diamond Head, Waikiki and the pacific ocean.

tantulus land for sale

A tranquil lush canopy-covered scenic road leads you to this hidden gem at the top of the Koolau Range. This listing includes 9 adjacent parcels with a 5br/3ba ocean view manor including a separate rental on first floor, and a 4 bedroom, 3 bath ocean view home with separate guest studio for rental income.

tantulus home for sale honolulu

Multiple rare Koa trees are located throughout the property. This is your chance to own 9 lots in Honolulu and build what ever you can dream of or a family compound for the kids.

tantulus honolulu estate home

Click here for more pictures and info on Tantulus Estate

Feb. 8, 2020

Kailua Beachfront Home on Private Road

Kailua Beach Home for sale

 

Prime Kailua Beachfront home on one of the nicest private roads, fronting over 100 linear feet of one of the world’s top 10 rated beaches. This expansive multi family home features an indoor/outdoor floor plan with 7 bedrooms/5 baths & 2 kitchens with separate living areas. 5783 sqft of living area all on a large 32,934 sqft parcel. 

 

Kailua Beach estate

 

May be able to subdivide into multiple lots and develop your own perfect paradise. Enjoy the big beachfront yard while others swim in the saltwater pool. 

 

Kailua Beach home for sale luxury

 

Go for a stroll on world-class 2.5 mile long Kailua beach and watch sea turtles and children frolic in the shore break. This is a rare opportunity to own this wonderful home on the windward side of Oahu.

Locals and celebrities love Kailua Beach, its ranked as one of the top 10 destinations to visit in Hawaii.

Click here to see Kailua Beachfront Home

Oct. 23, 2019

Top Ten Oahu Beaches

TOP 10 BEACHES IN OAHU HAWAII

Hawaii is known for some of the most scenic beaches in the world. They contain different features that make each suited for specific activities. Some are known for water sports, while others for vacations and swimming. 

These are the top 10 beaches in Oahu, Hawaii.

1. Kailua Beach

Kailua Beach best day ever

Characterized by light-colored sand and beautiful waves for sightseeing, Kailua beach is one of the best beaches to spend a family day out in Hawaii. There are various activities like surfing and beach volleyball that you can engage in while at the place. 

  1. Lanikai Beach

Lanikai Beach Sunrise

Lanikai is one of the famous beaches in Hawaii. The picturesque beach has an offshore reef that ensures you can swim safely at any time of the year. Islands and bird sanctuaries surround it for the perfect adventures.

  1. Waikiki Beach

Waikiki Beach Oahu

Waikiki beach is a 2-mile stretch of sand with hotels in between, interconnected using boardwalks. This beach has calm waves that allow an array of activities: swimming, canoe racing, surfing, and several more.

  1. Waimanalo Bay Beach

Waimanalo Beach Oahu Hawaii

It is one of the longest beaches in Hawaii. Waimanalo beach is a popular destination for locals and for military vacations as well. The beach experience includes fun body surfing waves for begginers. You can still indulge in other activities like sunbathing, fishing, and beach walks.

  1. Sunset Beach

Kawailoa Beach North Shore Oahu

Sunset is one of the best spots to take in sunlight while relaxing on the waters. Sunset beach, which positions at the North Shore of Oahu, is an excellent place for swimming and snorkeling in summer. It has a range of water sporting activities across the year.

  1. Sandy Beach

Sandy Beach forms one of the most popular beaches in Oahu, mostly for surfing and boarding. The vast stretch of the sand provides for great long walks and kite flying. Otherwise, you will not enjoy swimming due to the enormous waves.

  1. Ala Moana Beach Park

Ala Moana is the best place to go if you don’t like the crowds. An outer reef protects this human-made beach for calm waters throughout the year. You can use the beach for swimming lessons.

  1. Bellows Field Beach Park

Bellows is one of the best spots for families with young children due to the shallow waters. It is protected on the East to ensure calm waters for swimming. Team Gray advises that you wear protective clothing due to the presence of jellyfish in its waters.

  1. Kahana Bay Beach Park

While you might not enjoy swimming here due to murky and shallow waters, there are a lot of activities to engage in. You can relax on the sand or follow the unending hiking trails, or consider fishing and kayaking. 

  1. Pokai Bay

Located on the West side of Oahu, Pokai Bay is the place to head to whenever you wish to unwind in secluded areas. It has calm waters throughout the year, making it great for swimming. 

 

Oct. 23, 2019

Top Ten Oahu Hawaii Hiking Trails

THE BEST HIKING TRAILS ON OAHU HAWAII   

 

Hanalei Bay Kauai Trail view

Whether you are a starter or an avid explorer, Team Gray believes that these are some of the fit-for-a-fun adventure trails worth your time. Below are some of the best trails to follow in order to experience the lush jungles, jaw-dropping scenery, and the wild nature that Oahu is:

  1. Ehukai Pillbox

It is also known as the sunset Pillbox hike because of the beautiful view of the North Shore coastline. Ehukai Beach is an enjoyable experience. The walk takes you around 30 minutes to get to the summit. It might be short yet still challenging and strenuous to get to the mountain top. 

 

  1. Koko Head Trail

Koko Trail measures 0.7 miles to the top. It is one of the most popular trails in Hawaii. Do not allow the short distance disguise you. The trail has an elevated path reaching 990ft that will get you sweating by the time you reach the peak. 

 

  1. Pali Notches

Haena Trail Hawaii

You must be cautious when taking up this hike as it is one of the most dangerous in Hawaii. You will have to pass through the narrow ridge and climb rocks with persistent strong winds. Be assured that the experience is worth the risk.

  1. Crouching Lion

Crouching Lion trail offers one of the best views in Hawaii trails. You will reach the summit in around 30-45 minutes, and about 20-25 minutes to get back down. You don’t have to stay restless when taking this trail; most parts are safe and easy to climb.

 

  1. Manoa Falls Trail

As one of the earliest trails in Oahu, Manoa Fall trail has kept its aura over the years with a scenic view throughout the path. The 1.6-mile trail takes approximately 1 hour to complete.

 

  1. Diamond Head Hike

lanikai pillbox hike view

Looking for another easy trail in Oahu? Try out Diamond Head hike and zigzag, all the way to the top of the Diamond Head state crater. The 1.6-mile walk will take you around 30 minutes to get to the summit.

 

  1. Ka’au Crater Hike

How do three waterfalls, streams, and forests in one hike sound? If you like that, then head to the Ka'au crater hike. The climb is treacherous from the start, but there are several ropes around to help you through.  

 

  1. The Seven Falls Hike

With a moderate hiking difficulty, The Seven Falls hike provides a breathtaking view of seven waterfalls. This hike is surrounded by granite walls and can experience slippery rocks along the way.

 

9. Pink Pillbox Hike

Also known as Pu’u, this hike provides the best way to have a Western landscape of Oahu. The short walk will give you an impressive view of the beaches and suburbs around Oahu.

 

10. TomTom Trail

TomTom trail is one of the most well-known trails in Oahu. It contains spectacular scenes from the start. You therefore don't have to go all the way if you don't feel like it. 

 

Oct. 20, 2019

Blue Lagoon Beachfront North Shore Home

Blue Lagoon

Haleiwa beachfront home blue lagoon aerial

Rustic beachfront Blue Lagoon home frequented by movie stars and the jet set, halfway between Chuns Reef and Waimea Bay.

sunset beach haleiwa blue lagoon

Located on the secret “Blue Lagoon” on a private road off Kamehameha Hwy.  This charming plantation era home offers a 3 bedroom and 1.5 bath main house and a separate beachfront studio with 1 bath.

pupukea beach home for sale hawaii

Relax and enjoy swimming and snorkeling in crystal clear water or kayaking to Waimea Bay right from your oceanfront yard.  Perfect spot for watching whales, green sea turtles and daily sunsets from your beach chair with a glass of wine.

Kawailoa Beachfront Haleiwa Hawaii

Surf popular and uncrowded surf spots like Leftovers, Uppers, Chuns Reef and Alligators right in front of the home!

North Shore Hawaii Beachfront Home

The home is owned by the film director & producer of Grease, The Blue Lagoon and The North Shore.

Shaby Chic North Shore Beach house

The listing includes 2 parcels TMK 161-012-019 and 161-012-020 totaling 18,474 sqft.

This is a legendary trophy property waiting for someone to design an amazing new home with the best location and view we think that exists on Oahu.

Classic beach house North Shore Hawaii

The value is in the beachfront land and the very beautiful Blue Lagoon right in front of the home. Truly one of a kind.

Asking $5,500,000

Click here for more info and pictures of Blue Lagoon Home

Oct. 7, 2019

Ten Acres Waialua Land for sale

Ten Acres for sale Waiaua Hawaii Oahu

waialua land for sale oahu hawaii

Plowed and ready to grow in rich alluvial soils.

 

10 acres of rich premium farmland on Waialua River located on Thompson Corner at the beginning of Waialua and Haleiwa for prime corner location and ability to attract consumers to your farm operation for direct sales. Perfect for farm to table operation or direct sales to public via food stands,Kayaking adventure tour or commercial kitchen. River front access to ocean and North Shore beaches.

mango trees waialua Oahu

Waialua Mango Trees

 

Paddle your Kayak or drive your small boat to explore, surf, fish or just go crabbing from your back yard. Elevated building pad above flood zone on a hill top looking over the farm. Can build 2 farm dwellings with supporting structures, barns & facilities.

 

waialua 10 acre land map north shore oahu

The 10 acre Waialua lot for sale above has two X and circle on it.

 

Currently being farmed with Avocado, Mango, Taro, Banana, Papaya, Green Onion, Sour Sap, Sapodilla and more. You can CPR the lot into two 5 acres parcels each one is alowed to have a farm dwelling home up to 5,000 sq.ft on the first floor and can be two stories tall. Plus additional structures to support the farm activity like barns and green houses. 

waialua land for sale oahu north shore

Call Ralph Gray at 808-295-0704 or go to www.HawaiianBeachfront.com for more information.

Asking $1,395,000

Oct. 1, 2019

Top Ten Waterfalls in Hawaii

TOP 10 WATERFALLS IN HAWAII

Oahu Hawaii Water fall

 

The landscape of Hawaii is known for some of the most captivating waterfalls in the world. Here are some of the best you can hike too.

  1. Wailua Falls

waialua falls hawaii

It is one of the most famous falls in Hawaii, with two parallel water jets rolling into the Wailua River. You can easily view this natural spectacle at Maalo Road. Sometime back, Wailua Falls featured in a TV show Fantasy Island, which is a testimony of its lovely scenery. 

 

  1. Sacred Falls

Sacred falls Ohau Hawaii

Sacred falls are one of the most captivating waterfalls in Hawaii; with over 1100-foot fall. Its dangerous nature makes it banned from public exploration. Do not worry, though; you can visit Team Gray to find various ways on how to access the waterfall.

  1. Waimoku Falls

Waimoku falls Hawaii

At 400ft, Waimoku Falls is one of the tallest in Hawaii, which you can easily access without using a helicopter. Besides, the waterfall runs all year through, even though larger during the rainy season.

  1. Lulumahu Falls

Lulumalu falls hawaii

With the best trails in Hawaii, Lulumahu is one of the most drawing spots you will ever find. It is located inside a bamboo forest, making it a little challenging to find. However, the tasking adventure will be worth it in the end. Consider obtaining a permit before getting in to avoid trespass cases.

  1. Hanakapiai Falls

Hanakapiai falls Kauai

Described as "gorgeous but challenging," Hanakapiai Falls is a 300-feet high waterfall. It is located at the Na Pali side of the Kauai Islands, and accessible through a 2-mile hike. Be prepared to cross slippery mud, tree roots, and boulders along the trail.

  1. Waimea Falls

Waiamea Falls Oahu Hawaii

Located in Waimea Valley, it is one of the most accessible waterfalls in Hawaii. Several historical sites surround it, and a botanical garden to explore. You can also swim at the pool to cool off. 


  1. Waialeale Falls

Waialeale Falls Hawaii

You can reach the foot of this waterfall through a thrilling and treacherous hike. Even though the area experiences flash floods from time to time, you need to have a guide. Alternatively, you can opt to view it from a helicopter if you are not up for the hike.

  1. Kapena Falls

Kapena Falls Hawaii

Kapena is a tiny waterfall in Hawaii that is easily accessible. Tourists tend to go for birding, hiking, or nature trips around the falls. You can also opt for cliff-jumping into the pool to experience a more exhilarating hike.


  1. Manoa Falls

Manoa Falls Oahu Hawaii

Manoa Falls is accessible through a 1-mile trail that is great for beginners and those looking for short hikes. 150ft fall is surrounded by a lush rainforest that appeared in scenes on TV shows like “Lost” and the original "Jurassic Park."

  1. Waimano Falls

Waimano Falls Hawaii

Are you in the mood for a short yet adventurers hike? Head over to Waimano Falls.

 

Oct. 1, 2019

Top Ten Things To Do In Hawaii

TOP 10 THINGS TO DO WHEN VISITING OAHU HAWAII

Oahu is a top destination for travelers the world over. It allows some of the most indulging and fun experiences for adventure and making memories. Team Gray recommends you try out these activities when visiting Hawaii.

  1. Road trip around Oahu

Waimanalo Oahu Hawaii

The best way to have a look at the paradise in Oahu is to take a road trip. You need to check beforehand and have the maps of the place. Confirm the traffic conditions, weather, and timing for the best road trip. You can rent a car at the airport or form other rental services around.

  1. Swimming at the beach

Hawaii is famous the world over for the expansive that you cannot miss going to swim whenever you visit the area. You can swim at almost any time of the year as the  reefs protect most beaches. 

  1. Surfing or Canoe Paddling Lessons

Child surfing on Oahu Hawaii

Surfing and canoe paddling on Oahu is a big deal since Hawaiians consider this the sports of the Alii or kings. You should never go to Hawaii and leave without trying to surf or surf a wave on a canoe. The clam waters around the beaches provide the best place to learn and practice surfing. The world famous beach boys will give you the time of your life at a very low cost. I promise you will have the best time of your life and feel young again. Most people learn on the first day on a big long board. Bigger is better when it comes to learning how to surf.

  1. Enjoy the Sunset

Outrigger waikiki sunset oahu hawaii

There is a magic in the sunset that you can only experience in Oahu. The expansive ocean and raised spots around will provide some of the best views for the sunset and sunrise. Watching the sunset gives you time to go to other attraction sites like the museums, and conduct other activities.

  1. Visit the Hotels

Waikiki Hotels Oahu at night

If you are a visitor to Oahu, you don't have to worry about where to stay. You might also want to move around and experience different treats and cuisines. The best thing about the hotels in Oahu is that you can choose them based on your budget.

  1. Eat Out

The best way to experience people's culture is to try their cuisine. Oahu has a rich Hawaiian food range for you to maximize and enjoy. You can even walk around the streets and enjoy a delicacy from the street kitchens.  

  1. Visit Polynesian Luau

Hawaiian luau waikiki beach royal hawaiian hotel

Oahu is home for the rich Polynesian culture that you must experience when visiting. You need to visit the Luau to experience the Polynesian dining options, and the marketplace for shopping.

  1. Go Shopping

Ala Moana Shopping center Oahu Hawaii Waikiki

Hawaii is an international shopping hub with a wide range of products for the best souvenir. There are several shopping malls and other premium outlets to shop for the top brands. You can also visit Ala Moana pictured above, the farmers market, Waikiki, Chinatown, and aloha stadium swaps. They all meet your shopping needs.

  1. Visit the Trails

There are uncountable trails in Oahu, which you can follow to have the perfect view of the island. Research the trails early enough for the best arrival time, what to carry, and the best routes.

  1. Enjoy Your Time

relaxing in Oahu Hawaii at sunset

It sounds like a no-brainer, but most people come to Oahu and get so overwhelmed that they forget to enjoy their time. Oahu provides the best scenery, food, and other activities. But you can also just sit back and enjoy the scenes. Maybe just sit back and watch the sky, ocean, rain or people in the water having fun or on the beach.