April In Honolulu

Nathalie's Newsflash

despair has
no roots
~ it can’t really dig
into our hearts the way
we think it can
my love,
that’s why despair hates
it when we breathe
because it’s is always
just one deep exhalation
away from being evicted
from our lives
turn your body
into a sacred wind tunnel
breathe in the wild hope
to breathe out empty fear
breathe in the sweet peace
to breathe out the bitter anxiety
the truth is,
despair can’t anchor
itself to us
unless we actually tie
the knot ourselves
so, don’t let despair lie
to you anymore
you’re not the one
that is
“barely holding on”
~ despair is
-John Roedel

Happy April, everyone! As you may or may not know, April is Fair Housing month, which commemorates the passage of the Fair Housing Act of 1968 and continues the conversation on equity in housing for people everywhere. As the DEI Chair for the Honolulu Board of Realtors, this is particularly poignant for me, as it opens doors to conversations about how to best advance homeownership opportunities to all.

As springtime unfurls, it brings brighter days, more sunshine, and opportunities to grow. What do you want to nurture in your life right now? For me, I want to hold space for greater conscious connections with the people I love in my life, because at the end of the day, what can possibly matter more than that? 

Real Estate in the News

Buying or Selling a Home? Welcome to the Year of Disappointment

After a tumultuous few years, many hoped that the housing market would improve this spring. No such luck — for buyers or sellers.

For two years, the housing market was a miserably competitive place. Prices soared by 45 percent, bidding wars became commonplace, and houses flew off the market. The frenzy came to a screeching halt last spring, as mortgage rates doubled in a matter of months, further driving up the cost of buying a home and freezing buyers out of the market.

But this spring, as the market begins to show signs of emerging from hibernation — home searches are up again! — buyers have been hoping that maybe, finally, this is their moment. Instead, they are walking into an environment that is still pretty miserable.

“This is the year of disappointment,” said Jonathan J. Miller, the president of Miller Samuel Real Estate Appraisers and Consultants. “The sellers aren’t going to get their 2021 prices, and buyers aren’t going to get a substantial savings on the price. Everyone is in the same boat.”

After a tumultuous few years, we seem to have arrived at a standoff: Buyers are no longer able to overpay, and sellers are unwilling to lower their prices — and, in many cases, even to sell their homes.

Read more at The New York Times

Merrie Monarch Festival
April 9-15

Celebrate the 60th annual Merrie Monarch Festival in Hilo, Hawai'i. The competition will be broadcast as well, so no need to brave tour busses and long lines at the airport in order to experience the incredible skill and talent of the participants  

Click here to learn more

Bloom! Garden & Art Festival
April 8 10-4pm

At East Village Shops and Ward Centre. From 10am to 4pm each day, come shop for plants from local nurseries, orchids, pottery, handmade items and packaged goods; check out various plant displays; attend free workshops and more!

Click here to learn more

CAFF Springfest
April 14-16

The Cultural Animation Film Festival Springfest celebrates the art of animation, featuring incredible international animated films with a unique and fun point of view. All will premiere in person at the HOMA Doris Duke Theatre. Films will be released online to the Eventive virtual theater 24 hours after each premiere’s start time until Wednesday, April 19. Full film lineup available here. 

Learn more here

Honolulu Real Estate Stats

Median Sales Price for O‘ahu Condos Reaches Record High
Single-family home and condo sales pick up in March after a seasonal slump.

O‘ahu’s housing market experienced a boost in activity from February to March, with sales rising approximately 36% month-over-month in both single-family home and condo markets. Although year-over-year sales continued to fall short of 2022 – down 26.5% for single-family homes and 33.9% for condos year-over-year – 236 single-family homes and 444 condos sold in March 2023..

Median sales prices for March 2023 increased from January and February but were mixed compared to a year ago. The monthly median price for single-family homes declined 5.8% from $1,150,000 in March 2022 to $1,083,750 last month. Meanwhile, the condo median sales price in March set a new record of $536,000, 0.4% above the previous record of $534,000 set in June 2022, and a 4% rise year-over-year.

In March 2023, 58.5% of single-family home sales closed at $1,000,000 or more, pushing the median sales price above $1 million. However, the $600,000 to $799,999 price range was one of the few to see a year-over-year increase in sales volume, jumping 70.6% from 17 to 29 single-family home sales compared to the same time last year. Meanwhile, the $800,000 to $999,999 price range accounted for more than a quarter of the month’s sales.

Here is more detail about the O'ahu market in general, but please reach out to me if you want more specific information about a region or neighborhood.
Interested in a bridge loan or keeping an eye on the latest mortgage rates? Compare local lender rates throughout Hawai'i here, compiled by the Honolulu Board of Realtors and updated weekly. 

Read More from the Honolulu Board of Realtors

Champion Lifestyle & Local Tips

Top 16 First-Time Home Buyer Mistakes That Everyone Makes

There are a lot of moving parts when you buy a home — especially for first-time buyers. There are common first-time home buyer mistakes you want to avoid.

Beginning with your mortgage pre-approval and ending with your move-in, you will learn about mortgages, tour lots of homes, and become somewhat of a home-buying expert.

All of these pieces leave opportunities for error.

Enrolling in home buyer education is a great place to begin your home-buying journey. Prepare for what’s to come by consulting with your team of real estate professionals. We even have some helpful tips for first-time buyers.

Look over these home buyer mistakes so you can identify potential hurdles and enjoy a smooth road to homeownership.

Learn more at Homebuyer.com

Earth Day
April 22, 2023

There are many ways to celebrate the beautiful blue marble we call home, so why not take time this month to give back to our biome.  
From the Waikiki Aquarium, to UH Hilo, and especially Kanu Hawai'i, why not find a local event, wherever you live, to show appreciation and honor for our planet? 
Learn more here

Stomp The Island
May 28th

The Hawai'i Alumnae Chapter of Delta Sigma Theta Sorority, Inc. will be hosting the returning Annual "Stomp the Island Step Show: Dance-off Edition." This event is designed to benefit youth in securing funding for college scholarships. Proceeds from the event will go to scholarships for deserving youth to attend college.

Get tickets here

2023 Stand Up for Immigrant Justice Pau Hana - April 13

The Legal Clinic (TLC) is proud to host our annual benefit event on Thursday, April 13th, 2023, 5-7pm, at which the Guardians of Immigrant Justice award will be presented to the champion of immigrant advocacy in Hawai'i, Amy Agbayani. Join in the celebration, or donate for this worthy cause here

Fresh Local Listings

Punahou

1521 Punahou Street, Unit 202

2 BD   2 BA   1226 SF   $699,000

Waimanalo

41-706 Paloa Place

3 BD   2 BA   1080 SF   $659,000

Ko Olina

92-104 Waialii Place, Unit O1206

2 BD   2 BA   1265 SF   $2,470,000

Alewa Heights

718 Alewa Drive, Unit 2

3 BD   4 BA   2618 SF   $1,299,999

Kahala

860 Onaha Street

4 BD   3 BA   2503 SF   $3,950,000

Mahalo for reading and subscribing! How can I help you achieve your real estate goals?

Reach out to chat!

Nathalie Champion

GRI, MRP, e-Pro, PSA, CLHMS
RB-23526
nathalie@nathaliechampion.com
(808) 859-0027
COMPASS RB-23206

Rotary E-Club of Hawaii - Immediate Past President
Honolulu Board of Realtors - Diversity Committee Chair

Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.