ALOHA HAWAII – THE CALL OF THE ISLE
Compass has navigated to Hawaii. This culture-rich, beautiful state is home to breathtaking landscapes, the ocean blue, and some of the finest real estate in the world. It’s now home to Compass as well, and we’re thrilled to be partnering with Hawaii’s top agents who are helping people find their place on Maui, Kauai, Oahu, and the Big Island.
We’re proud to be leading this effort with our Hawaii Leadership team – Margaret Reynolds, Debbie Arakaki, Sean Ahearn, and Matt Gabriel. Long considered one of the world’s most luxurious destinations and distinguished by a long and rich cultural history, Hawaii’s exquisite natural beauty, clean air, and idyllic weather pervade every aspect of daily life. We asked our leaders on the islands to share their insights on the market and lifestyle of their respective marketplaces.
Debbie Arakaki on Maui
Maui No Ka Oi! Maui has white sand beaches, great golf, surfing, diving, hiking and dining at fabulous eateries. With all these attributes, we are seeing a surge in home buying now as people transition to open outdoor living without the crowds. Realtors Association reported September 2020 pending sales are up 31.8% over our 2019 September numbers! Our average price point is up 4.1% to $1,089,82. Lastly, our inventory is shrinking down by 12.7% year to date. This paints a clear picture of a sellers market right now in Maui as the demand for homes grows.
Margaret Reynolds on the Big Island
The Big Island of Hawaii is bigger than all of the other islands of Hawaii put together. On the Big Island you will find temperate zones ranging from tropical rainforest to desert and everything in between. For this reason, people whose goal is to get away from concentrated and populated cities are flocking to the Big Island.
The Big Island offers a vast variety of home sites. Opportunities can be found in buildable raw land from around $2,000,000 for a home site to over $20,000,000. Home prices range from $4.5M to oceanfront estates over $45,000,000. The Big Island of Hawaii truly offers something for everyone, with the latest data shows the Big Island residential market growing and up 14% year-over-year.
Sean Ahearn on Kauai
When Hawai’i anoints you as “The Garden Isle” that’s a significant responsibility indeed; Kaua’i however delivers – in spades. The Garden Island is resplendent in towering peaks and shimmering waterfall strands strewn across a lush and edenesque topography. But did you know that Kauai should be known as “The Beach Isle”? With more than 50% of its coast, golden sand beaches, Kauai has more beaches than all the other Hawaiian Islands combined – from Ke’e to Hanalei to Anini to Kealia to Shipwrecks to Polihale and dozens of other beaches in between – Kauai is a beach lovers dream. That dream from a real estate perspective does come with a price tag; in 2020 year-to-date, it’s been $1,248,000 on average for the 426 residential sales and with 136 homes under contract that only leaves 221 left currently, so that dream is becoming an apparition for many. Condominium and Vacant Land sales are seeing, similar in nature, activity. As our current world turns, it’s turning towards Kauai’s beaches and abundant natural beauty.
Matt Gabriel on Oahu
Oahu - also known as The Gathering Place - a beacon of diversity and opportunity in the middle of the vast Pacific Ocean. Mornings are tough here; a little exercise at one of our famous beaches such as Kailua Beach (often considered the #1 beach in the US) or parks like Kapiolani Park which were the playground to Kings of Queens of Old Hawaii and now the finish line of the Honolulu Marathon or staying in for a coffee enjoying the blue ocean or lush foliage outside your backdoor. As the day starts, what a choice between surfing the North Shore (or South Shore in the summer) to hiking any one of the trails that could lead to a waterfall or spending the day shopping anywhere from small town shops in Haleiwa to the vibrant Chinatown to luxury boutiques in Waikiki. After such a daunting day, the dinner choices are endless whether an inspired salad from an up and coming foodie to a local plate lunch from a community staple to a gourmet restaurant with chefs trained in the highest rated kitchens from around the world. This is a day enjoyed by an owner of a condominium under $100,000 to a beachfront estate over $10,000,000 and in communities that are all about the neighbors to those of privacy and security...all sharing and contributing to a vibrant Gathering Place where there is something for everyone.