hawaiipacificmall.com

Waimea real estate market

June 13, 2010 1 comment »

: Image via Wikipedia

The volume of the Waimea real estate market increased in the most recent tracking period, although foreclosure rates remained high and the median price declined slightly. According to a June 7, 2010 article from Pacific Business News, “Sales of condominiums on the Big Island rose by nearly 75 percent last month, and sales of single-family homes were up by 25 percent when compared to May of last year. There were 53 condos sold on the Big Island in May, 71 percent more than the 31 units sold during the same month in 2009, according to statistics from the Hawaii Information Service.” The piece went on to state that “A total of 128 single-family homes were sold in May compared to 102 homes sold during the same month last year. Prices, however, were down for both categories. The median price for a single-family home on the Big Island in May was $279,500, down 7 percent from $300,500 in 2009.”

The foreclosure rate amongst Waimea homes for sale, however, remained well above the state and national average in the month of May. According to a June 10, 2010 article from the Honolulu Star Advertiser, “The number of Hawaii properties caught up in foreclosure in May remained above the 1,000 mark for a third consecutive month, but may be getting close to leveling off. There were 1,055 properties statewide in some stage of foreclosure last month, according to real estate research firm RealtyTrac.” The piece, composed by Andrew Gomes, went on to note that “The Big Island had the worst rate, at one filing per 245 households, or 325 filings in all…Still, there’s no question that local homeowners continue to struggle with mortgage payments amid a tepid economy, an unemployment rate that remains near 7 percent and home values that are still below peaks of a few years ago.”

One particular weak spot in Hawaii real estate that may be affecting the Waimea housing market is the failure of a large development. According to a May 19, 2010 article from the Wall Street Journal, “Bank of Scotland PLC, a British bank that financed a boom-era, 1,500-acre luxury golf-course community in the Hawaiian city of Kailua-Kona, is suffering a steep loss on the stalled project.”

1 comment »

Posted in Real Estate

Tags: Big Island Hawaii Island of Hawaii Real Estate RealtyTrac United States Waimea Wall Street Journal

Oahu Vacation Rentals

June 12, 2010 No comments »

: Image via Wikipedia

Tropical winds, sparkling ocean side luaus and the famous Diamond Head are just a few of the wonders Oahu, the most populated island of Hawaii, has to offer. Renting a Waikiki Vacation Rental here you can appreciate the history by following in the sandy footsteps of surfing legend Duke Kahanamoku on the fabulous Waikiki Beach, tour Pearl Harbor or pay a trip to the royal Iolani Palace. Try out a hot malasada, (the local donuts,) or shaved ice while you shop for vintage shirts with festive floral patterns on Honolulu’s Kapahulu Avenue. You can even escape the regular tourist areas by hiking up to Makapuu Lighthouse, located on the South Shore – or you can even take a hula lesson!
When renting a property for your Oahu vacation, you will most likely be situated near to Waikiki, which has plenty of attractions that can easily be walked to from where you are staying in most cases. Besides the world renowned Waikiki Beach, which itself is a huge draw for the area, you may want to take a trip to the Honolulu Zoo, situated to the west of Kapi’olani Park. The Honolulu Zoo is the biggest zoo in all of Hawaii, with an impressive 2400 mile radius. Some key points of the zoo include the “African Savanna”, the “Tropical Rain Forest” as well as the “Islands of the Pacific” – a very relevant series of exhibits. If you are in Honolulu during a full moon you are able to enjoy their once a month “Moonlight Walk”. Nearby the zoo you will find the Waikiki Aquarium, originally built in 1904, making it over a century old. Exhibits here focus on Hawaiian marine life and include over 2,500 organisms and 420 different species of aquatic plants and animals.
Each year around 350,000 people take a trip to the Waikiki Aquarium. There are also other popular attractions in the area including the Damien Museum, where you will learn about the life of Father Damien, who is famous around the world for his work with people suffering from Hansen’s Disease. A visit to the Hanauma Bay Nature Preserve will also make for a great day out – it is amazing beautiful and while it is not a beach park designed for beach sport, one can still enjoy the first ever Marine Life Conservation District in all of Hawaii. You can take part in efforts to both protect and preserve the bay for future generations to enjoy.
Oahu caters to tourists in the way that is has a rich and fun filled nightlife; you will not be let down in this department. One of the most popular nightlife experiences here is the local Hawaiian music to enjoy, including Banyan Veranda which will see you enjoying traditional music in an authentic Hawaiian atmosphere.
There is also Chai’s Island Bistro, situated in the Aloha Tower Marketplace, where you can listen to live music almost every night of the week, with a lineup including the famous Brothers Cazimero.
If you are near Duke’s Canoe Club, that is another popular option for those of you who would like to experience sunset music.
Hawaiian Regent Hotel has the well known and very popular singer Genoa Keawe every Thursday night, along with other Hawaiian performers during the rest of the week. If you are staying at the Hilton Hotel you will be able to take part in luaus with local performers right on your doorstep, so it is a good choice for families. Those of you who enjoy a drink can take your pick from a whole plethora of clubs and bars in Oahu, with casual Hawaiian dress shirts becoming a very popular choice of clothing for male tourists here.
The three best spots to check out are; Moose McGillicuddy’s – a club offering live entertainment along with a regular bikini contest.
Pipeline, which is a hugely popular dance club featuring large TV screens, a pool and from time to time a concert. The regulars here tend to be younger, and there are plenty of theme nights to keep things fresh and interesting. The Opium Den and Champagne Bar at Indigo’s is the last place to check out, and is perfect if you want a more relaxed atmosphere than at the other locals clubs and bars.

No comments »

Posted in Waikiki

Tags: Hawaii honolulu Oahu Waikiki

Hawaii Re-Mortgage – Definition

May 19, 2010 2 comments »

: Image via Wikipedia

In the past, the term of re-mortgage was associated with the solution that families found whenever they faced a financial problem, such as failing to pay the mortgage debts or other difficulties regarding various loans. But nowadays re-mortgage has nothing to do with the features that defined the term at its origins. To re-mortgage the house in the present days is a solution that is very practiced inside the US families.

This one relates to a simple switch from the existing mortgage in order to get a better deal with the installing of the newly adopted mortgage. This one is done through the aid of a mortgage lender who can lower the borrower’s interest rates (if he is reaching to an end of his fixed rates) as such allowing the borrower to have a deal that is more suitable to his financial power.

Nowadays with the online access to information it is not that hard to find solutions in case you face financial problems as the information in this respect is available for both the lenders and the borrowers involved in a search of re-mortgage financial solution.

Thus the financial market displays an entire range of such lenders who offer their services into re-mortgaging. Once you, as a borrower, approach the matter from a re-mortgage perspective you will soon find out that this solution, if properly delivered, can save you a lot of money.

For instance, if the market rates system has declined since your initial mortgage, then it is more than likely that with switching the mortgage to the other type, you will get lower interest rates. A reason to choose re-mortgage system for your financial problems is the need to include all the existing debts into a single payment that has to be secured on the property you own.

Another reason that can determine you to select re-mortgaging is the extra improvements that you want to add to your house, for instance to add another garage or to extend the patio of your house; no matter what these improvements might be, they will definitely cost you money and as such you can re-mortgage adding one more payment inside your monthly rates.

Re-mortgaging your property might be the reason of your need to positively access your Honolulu home’s equity. This one refers to the value of the property you own without including the mortgage. A positive equity in this respect will confer an increased value to your property.

This value can be used in the process of re-mortgaging and used as such for the home improvements you might want to add to your house. Apart from the improvements, other expenses could come up, for instance the need to buy a new car, or to spend your holiday in a place you have never been before because you couldn’t afford to.

Re-mortgage in every of these situations seems to be the best as it offers lower interest rates than the rates you might get once you loan from a bank through personal needs loans or crediting your cards.

2 comments »

Posted in Finance

Tags: Business Debt Financial market Financial Services honolulu Interest rate Loan Mortgage United States

West Maui Real Estate

April 17, 2010 No comments »

: Image via Wikipedia

The Hawaiian island of Maui is shaped in such a way that it can be neatly separated into two sections, east and west. The area of West Maui includes such cities and towns as Kapalua, Lahaina, Kahakuloa, Olowalu and Maalaea. The area’s real estate is a mixed bag, with large single-family homes and condos straddling the island’s beautiful beaches to more modest, inland residences. The West Maui real estate sector has, of course, suffered in the past two years because of the contagious effects of the recession across the U.S.

Some of the West Maui communities have small supplies of West Maui homes for sale and thus have few transactions recorded. Kapalua saw no single-family homes sold in December 2009, though there was one sold in November. Lahaina saw four single-family homes sold in December with a median price of $1.21 million, a price increase over November but slightly below last year’s level of $1.34 million. Kahakuloa saw one home sold in December for $821,700.

The condo market in West Maui continued to gain a little bit of steam. Kapalua saw four condos sold in December for a median price of $1.39 million, up substantially from the previous year and month, when there were few transactions on which to base the median price. Maalaea saw four condos sold in December at a median price of $282,525, up from just one sold in November for a higher price of $310,000.

Kapalua saw a total of five single-family homes sold in 2009, down from six in 2008. Lahaina saw 31 sales, an increase of 35% year-over-year. Olowalu saw a single home sold during the year, up from 2008, when no homes sold. Kahakuloa saw two homes sold this year versus one last year. The overall island of Maui saw sales volume of single-family homes down 24% for the year 2009 and median prices down 14%. Kapalua’s condo sales volume stayed steady at 20, while Lahaina more than doubled its sales, to 55 from just 21. Maalaea saw a 24% drop in activity. The entire island saw activity up 4% but median prices down 18%.