January In Honolulu

Nathalie's Newsflash

"“I hope that in this new year, you make mistakes. Because if you are making mistakes, then you are making new things, trying new things, learning, living, pushing yourself, changing yourself, changing your world. You're doing things you've never done before, and more importantly, you're Doing Something. 
So that's my wish for you, and all of us, and my wish for myself. 
Make New Mistakes. Make glorious, amazing mistakes. Make mistakes nobody's ever made before. Don't freeze, don't stop, don't worry that it isn't good enough, or it isn't perfect, whatever it is: art, or love, or work or family or life.
Whatever it is you're scared of doing, Do it.
Make your mistakes, next year and forever."
—Neil Gaiman

As we roll into 2023, I feel a powerful sense of hope and optimism. From the feedback I have been receiving from friends and family, I'm not alone. What thought, concept, or feeling are you excited to manifest more of in the upcoming months ahead of us in 2023?

Personally, I'm remembering the importance of clear communication and setting boundaries so that I can do more and serve more while taking care of both my needs and the needs of my loved ones. I like the practice of having a theme word for a new cycle, and at the beginning of this cycle, the word that keeps surfacing is:
-C O N T E N T M E N T-

Real Estate in the News

2023 Real Estate Forecast: Market to Regain Normalcy

But even though mortgage rates and home prices are expected to moderate, home sales may still sag under persistent inventory shortages, housing economists predict.
While 2022 may be remembered as a year of housing volatility, 2023 likely will become a year of long-lost normalcy returning to the market, economists predicted Tuesday during the National Association of REALTORS®’ annual Real Estate Forecast Summit. Next year, mortgage rates are expected to stabilize while home sales and prices moderate after recent highs, according to NAR’s forecast. However, the details could be different from region to region.

Some housing markets may see an uptick in homebuying activity at the beginning of the year, especially if mortgage rates continue receding from a recent high of 7%. Housing inventory is expected to remain tight in 2023, with housing starts below historical averages and fewer homeowners willing to sell, said NAR Chief Economist Lawrence Yun. The ongoing housing supply challenges will prevent home prices from falling, though price appreciation will slow, he added. “I see many hopeful signs for early next year,” Yun said.”

Read more at NAR

Honolulu Real Estate Stats & Tips

O‘ahu Home Sales Cool in 2022 Amid Rising Mortgage Rates

In December, sales for single-family homes plummeted 46.6%, while condo sales were down 39.3% year-over-year. The median sales price for a single-family home dipped slightly to $1,049,500, while the median condo sales price rose to $502,500. 
 
In the single-family home market, the $800,000 to $999,999 range saw a whopping 225% increase, with 143 listings available at the end of the year compared to just 44 listings in December 2021. In the condo market, active inventory most significantly increased primarily in the mid to upper price ranges. Year-over-year, active inventory in the $400,000 to $1,999,999 price range rose by 50%.

2022 Year-End Stats 
In 2022, O‘ahu’s real estate market was marked by transition. The year began similarly to 2021 with intense competition among buyers, with mortgage rates still hovering near historic lows and ended with headwinds when these rates rapidly and sharply rose.

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

Chinese New Year
January 22

Kung Hee Fat Choy! It’s the Year of the Rabbit, and to celebrate the Chinese New Year, Honolulu Magazine has showcased several events happening throughout January.

Click here to learn more

Cinderella at the New 
Diamond Head Theater
Jan 20-Feb 12

Diamond Head Theater, which closed its doors in October 2022 to move to a new and improved space right next door, kicks off it's 2023 season with the inaugural show, Rodgers & Hammersteins's Cinderella!

Click here to learn more

Waimea Valley
Thursdays Ongoing

Why not enjoy a wonderful Thursday afternoon on Oahu's beautiful North shore? Hawai'i residents with a valid state ID get free admission to Waimea Valley on Thursdays 12-3pm, and you can stay and experience the Haleiwa Farmer's Market every Thursday 2-6pm

Learn more here

Hamilton!!!
Through January 2023

If you haven't seen it already, please take the time to experience this award winning musical, playing at the Neal S Blaisdell Concert Hall until Jan 29th.

Better yet, test your luck and sign up to score some $10 tickets to this incredible show through the ticket lottery!

Click here for ticket information

Champion Lifestyle & Local Tips

How to Declutter Your Home: 10 Creative Decluttering Tips

The idea of living a simple life with less stuff sounds attractive to many.
 
But often, they begin to feel overwhelmed, anxious, and defeated around the idea of owning less. That’s too bad.

Learning how to declutter your home and (and as a result, decluttering your life) doesn’t need to be as painful as some make it out to be. And the benefits are numerous.

Learn more at becoming minimalist

Billabong Pro Pipeline Surfing Event

Tired of winter? Want to watch top surfers showcase mastery of the waves? From January 29-February 10, you can watch some of the best of the best compete in shortboard surfing in beautiful Banzai Pipeline, whether in person or live streamed. Don't miss it!

View live at World Surf League

Public Input Sought for New Land Designations on Over 21,000 Acres

DLNR is seeking comments on a proposal to protect nearly 100 unencumbered State land parcels across Hawai‘i as part of the State Forest Reserves, Natural Area Reserves, and Wildlife Sanctuaries systems. The public is invited to attend in person or online informational meetings to learn more. Meetings will be held between January 9-23, 2023

Read more at DLNR

Escape Room Fun Times

I fully admit, there is something deeply familiar and satisfying about live-wire fumbling around with a lockbox and successfully opening it while people wait impatiently to enter a room. Here are some of my go-to favorites:
Breakout Waikiki
Chambers Escape Games
and a new unorthodox favorite, CluedUpp Scavenger Hunt  Please note, CluedUpp may have nerdy awesome scavenger hunt activities in a city near you!

Local Listings

Wilhelmina

3851 Sierra Drive

4 BD   4 BA   1355 SF   $1,675,000

Lower Makakilo

92-658 Nohona Street

3 BD   2 BA   1332 SF   $810,000

Waikiki

2045 Kalakaua Avenue, Unit M400

2 BD   3 BA   2122 SF   $1,950,000

Makaha Valley

84-575 Kili Drive, Unit 71

4 BD   3 BA   2074 SF   $899,000

Kuulei Tract

238 Kuumele Place

4 BD   3 BA   2128 SF   $2,100,000

Mahalo for reading and subscribing! How can I help achieve your next real estate goal?

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.