July in Honolulu

Nathalie's Newsflash

"There is power in a name.  It is through names that we bring all things into this world, and when they leave, it is names we carry with us, so they are never truly gone."
-Justin Cronin

July is nigh! With summer in full swing, delicious watermelon in season, and the sun shining, many people are taking full advantage of the warmth and light that this season brings. Of course, full advantage may very well mean enjoying a comfy day of light reading while observing the sun streaming through your window... which sounds absolutely amazing!
This month we recognize Disability Pride, which celebrates people embracing their disabilities as integral parts of themselves, reclaiming visibility in public and interacting fully and openly with their disabilities while rejecting shame and internalized ableism. We also celebrate Independence Day on the 4th, which can mean many different things for different people. I appreciate the celebration of freedom, and like to personalize it by contemplating what subjective tendencies I'd love to stop reactively manifesting! What emotional reactions would you really love to have freedom from?

Real Estate in the News

Housing Market Predictions For 2023: When Will Home Prices Be Affordable Again?

Though summer temperatures are heating up, it looks like a tepid season ahead for the housing market.

The national average 30-year fixed mortgage rate decreased by eight basis points in June but ticked back up to 6.81% the first week of July. A basis point is one-hundredth of one percentage point.

Meanwhile, existing home sales remained relatively flat in May, rising 0.2%, according to the National Association of Realtors (NAR).
Though the median existing-home sales price edged lower year-over-year for the fourth consecutive month—a promising sign for home shoppers—experts don’t expect substantial, nationwide price declines anytime soon.

Despite high mortgage rates, the market remains as competitive as ever thanks to strong demand coupled with tight inventory supply, due, in part, to those who purchased homes in recent years at record-low interest rates staying put. These and other factors form a perfect affordability crisis storm that continues to sideline many aspiring homeowners.

Read more at Forbes

Preservation in Practice Webinar: Traditional Knowledge in Stewardship and Preservation

Historic Hawai‘i Foundation, in partnership with the Department of the Interior’s National Park Service, will offer a free webinar on integrating indigenous knowledge into planning and management strategies for historic properties and other cultural resources on Wednesday, 8/9, 10-12pm HST.
Learn more here

National Minority Mental Health Awareness Month

National Minority Mental Health Awareness Month is observed each July to bring awareness to the unique struggles that racial and ethnic minority communities face regarding mental illness in the United States. It was developed to honor the efforts of Bebe Moore Campbell. an American author, journalist, teacher, and mental health advocate.
Click here to learn more

Your Guide to the Perfect Weekend in Honolulu: 
July 8–11

Kick back by the pool at Surfjack Hotel & Swim Club on Sunday, enjoy live local music alfresco in  Waikīkī and Waimānalo, and check out Kama‘āina Sundays at ‘Iolani Palace, courtesy of American Savings Bank. 
Click here to learn more

Honolulu Real Estate Stats

O‘ahu Home and Condo Markets Cool in June
Sales and median prices dip, but pace of sales remains relatively quick

The monthly median sales price for both single-family homes and condos fell 4.5% year-over-year. The single-family home monthly median sales price in June was $1,050,000, and $510,000 for condos. Single-family home sales dropped 30.5%, and condo sales dove 24.9% compared to the same time last year. However, the market pace remained relatively quick, with most properties entering a contract in just over two weeks.
 
Although both markets experienced double-digit sales growth from the first quarter of 2023 to the second—up 28.4% for single-family homes and 27.2% for condos—sales were approximately one-third down from a year ago for both the second quarter and year-to-date.
 
The first half of the year saw 337 single-family homes, approximately 26% of sales, that closed for more than the original asking price, compared to 1,189 single-family homes or 61% of sales over the same period last year. Fourteen percent of single-family home sales received full asking price compared to 13% last year. In the condo market, 502 or 21% of sales closed above the original asking price compared to 1,589 condo sales or 43% in the first half of 2022. The share of condo sales that received full asking price was 21% year-to-date compared to 19% last year.
 
At the end of last month, active inventory was up in both markets compared to the same time last year. June 2023 ended with 605 active single-family homes, a 14.8% year-over-year increase, and 1,159 active condos, a 16.1% increase from a year ago.

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

25 Self Care Day Ideas & Activities for 2023

Personhood is a portfolio most of us don’t really spend enough time building. Yet, it is the only thing of worth we truly own. It can never be taken from you, and it is the base for all other ventures in life, yet we leave our sense of self cracking and falling apart like a dilapidated house. 
The good news is this: you can rebuild your selfhood. It is possible to fill in the cracks, tile over the faded floors and paint the dusty walls. With a few self-care ideas, you can begin to renovate yourself and regain your sense of purpose and importance.
However, all the spa days and meditation retreats in the world won’t change things if you only do it “once in a blue moon”… never repeating or acknowledging that you have a valid need for self-care. In this article, we will provide a list of self-care day ideas and activities to help you break the cycle of self-neglect and embrace who you are.

Learn more at DevelopGoodHabits

Aloha Home Market, Kailua
Ongoing, 9a-2p

Aloha Home Market is Kailua's premier pop-up market and showcase for unique local treasures and finds! Aloha Home Market features some of Hawaii’s finest furniture makers, artisans, jewelry makers, clothing designers, food vendors, and more, and happens monthly!

Find out more here

TAIMANE: 
HAWAIKI - A MUSICAL AND THEATRICAL ODYSSEY
August 25

Taimane returns with a grand ensemble poised to deliver a feast for the senses and soul with a one-night-only presentation of Hawaiki, a theatrical odyssey written, scored and produced by the international ‘ukulele star and composer. Music, dance, costume, aerials and spoken word will transform Hawaii Theatre’s historic stage into a mystical orb and transport attendees to Polynesia’s spiritual home.

Buy tickets here

Hawaii Business 10th Annual Leadership Conference 

Join us on Thursday, July 20 at the Hilton Hawaiian Village for the 10th Annual Leadership Conference. Hear from local leaders as they explore how indigenous perspectives can guide us, teach negotiations tactics that will yield results, discuss the ways that adopting radical optionality can establish resiliency and lead to long-term success, and more.

Get tickets here

Fresh Local Listings

Keolu Hills

1237 Hele Street

6 BD   2 BA   2008 SF   $1,648,000

Ewa Gentry

91-1777 Makahehi Loop

3 BD   3 BA   1854 SF   $1,235,000

Kahala-Waialae

1487 Hiikala Place, Unit 35

3 BD   3 BA   1678 SF   $1,449,000

Kalama

525A North Kalaheo Avenue

4 BD   2 BA   1743 SF   $1,725,000

Ala Moana - park lane

1388 Ala Moana Boulevard, Unit 5400

3 BD   3 BA   2176 SF   $6,600,000

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.