February 2024 Monthly Newsletter Email

New Year Sees O‘ahu Home Sales Rise

Properties stay on market a bit longer, but continue to move into escrow in under 30 days
Interest rates have dropped about 1% in the past few months down to about the mid 6% level right now which is spurring activity again. As the Feds continue to cut rates it will unlock more inventory from sellers finally willing to let go of their property and buyers will be able to afford more which will make prices go up. Buyers should shop now while there is less competition and refinance in the future when rates come down. Sellers who are able to wait could see higher prices in the future when interest rates come down lower. If you have any questions about your specific real estate goals reach out and I'd love to have a conversation with you and dive in deeper. 

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20 Pu'ukani Pl in Kailua Sold $10.375!

I just sold 20 Pu'ukani Pl in Kailua for $10,375,000 all cash! 🔥 My buyers were very specific in what they wanted and so I had to make it happen. We were in backup position on another property but that buyer ended up closing. When there was nothing available on the market, I sent out a mailer to every single Kailua oceanfront home. We got a few bites back and ended up seeing a few properties off market. We got in touch with the seller of this home, saw it before it came on the market, and got the deal done. Kailua is one of the safest beachfronts in all of O'ahu because the sand in front is actually accreting. Had to think outside the box for this one but thankful my buyers will be able to enjoy this trophy property for years to come! 🏆

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Last Month Sales Stats

Elevated mortgage rates and limited inventory continue to have the most outsized impact on our local market. Our latest report summarizes the newest residential real estate data, looking back at 2023 and the latest from December 2023.

Download Full Stats Report

New Project: MODEA!

Downtown call is being transformed. The Davies Pacific Center is now Modea, transformed from the inside out for modern living. There are 44 Studios starting at $400,000+, 302 1-bedrooms starting at $600,000+, and 6 2-3 bedrooms starting at $900,000+. Visit the link below and reach out for a private presentation to learn more!

New Listings

Waikiki

223 Saratoga Road, Unit 1921

0 BD   1 BA   441 SF   $680,000

Waikiki

300 Wai Nani Way, Unit II215

1 BD   1 BA   570 SF   $450,000

Waikiki

1765 Ala Moana Boulevard, Unit 280

1 BD   1 BA   651 SF   $750,000

Pearlridge

98-288 Kaonohi Street, Unit 4202

2 BD   2 BA   890 SF   $575,000

Ala Moana

1341 Kapiolani Boulevard, Unit 16B

2 BD   2 BA   1136 SF   $850,000

Lower Nuuanu

55 South Judd Street, Unit 2209

0 BD   1 BA   600 SF   $320,000

Waikiki

223 Saratoga Road, Unit 1420

0 BD   1 BA   491 SF   $550,000

McCully

842 McCully Street

4 BD   1 BA   801 SF   $1,140,000

Recent Closings

Beachside

20 Puukani Place

5 BD   4 BA   3171 SF   $10,375,000

Heeia

46-086 Ipuka Street

4 BD   4 BA   3270 SF   $1,100,000

Kaimuki

3242 Lincoln Avenue

3 BD   2 BA   1568 SF   $1,240,000

Pearlridge

98-288 Kaonohi Street, Unit 4202

2 BD   2 BA   890 SF   $585,000

Interest rates are set to come down this year! Are you looking to buy or sell property in 2024?

Reach out to chat!

Ben Fieman
Realtor Broker | RB-23470 | MBA Compass Hawaii, Founding Agent

RealTrends Hawaii Rankings, Top 10 Agent on Oahu: #9 for Transactions, #32 for Volume 
Career: $200M+, 250+ Transactions

As Seen On "American Dream TV" FOX, ABC, CBS, Travel Channel 

Work: 808.400.7007
Email: Ben@Fieman.com
Website: www.Fieman.com

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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.