Oahu’s 10 Most Competitive Condos

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Anne Cicero

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Oahu’s 10 Most Competitive Condos

More than seventy percent of units sell for above asking in popular Mililani townhome community

FOR IMMEDIATE RELEASE HONOLULU – (January 23, 2020) – Locations—Hawaii’s leading real estate firm—analyzed Oahu condominium buildings and townhome communities across the island with the most sales above the asking price, known as “bid ups,” in 2019. The most competitive condos, with at least five sales in 2019, that had the most bid ups are:

1. Lanikuhana Patio Homes,  Mililani,  71.43% 
2. Puu Alii 2‐2,  Kaneohe,  66.67% 
3. Ewa Apartments,  Ewa,  64.29% 
4. Aikahi Gardens,  Kailua,  63.64% 
5. Havens of I’i Vistas, Mililani,  60.00% 
6. The Villages at Waipio, Waipahu,  53.85% 
7. Heritage House, Hawaii Kai,  50.00% 
8. Kukilakila, Kailua, 50.00% 
9. Nohona II at Kapolei, Ewa, 50.00% 
10. Tropic Gardens 1, Diamond Head ‐ Kahala,  50.00%

“More than seven in 10 Lanikuhana Patio Homes were bid up over the asking price in 2019,” said Locations Principal Broker John Connelley. “With a median price of $420,000, these townhomes in the award-winning Mililani Uka Elementary School district are pet-friendly and have large lanais,” he added.

Built in 1976, Lanikuhana Patio Homes are two-bedroom townhomes, some with additional loft space. With only seven sales in 2019, units sold in a median of just 10 days and sellers received 102 percent of the listing price. “Puu Alii, phase 2, in Kaneohe also saw very competitive market conditions in 2019, with two-thirds of all units bid up above the asking price,” said Connelley. With ocean and mountain views, and several amenities, there were just six sales in Puu Alii, phase 2, in 2019. Strong demand for these units pushed the median price up by 12 percent to $552,500—slightly below the overall Kaneohe median condo price.

Rounding out the most competitive condos in 2019, in order of competitiveness are: Ewa Apartments, Aikahi Gardens (Kailua), Havens of I’i Vistas (Mililani), The Villages at Waipio, Heritage House Hawaii‐Kai, Kukilakila (Kailua), Nohona II at Kapolei and Tropic Gardens 1 (Kahala).

Of the top 10 most competitive condos on Oahu, 80 percent are townhome-style units, 80 percent have patios or lanais, and 70 percent have multi-level units, reflecting buyer interest in single-family home-style living with outdoor space. Half of the most competitive condos have an average price per square foot of less than $500, and half are larger than 1,000 square feet.

Because competition and other market dynamics can vary greatly among a building or community, even within the same market area or region of the island, prospective homebuyers and sellers should consult with their Realtor® about the unique market conditions in their condo building or complex of choice.

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About Locations As the state’s oldest and leading independent real estate firm, our trusted Neighborhood Experts have served Hawaii’s families since 1969. For 50 years, Locations has helped more people buy or sell their homes than any other real estate firm in the state. With our rich kama’aina roots, innovative technology and dedicated market-research department, Locations continues to be at the forefront of this ever-changing industry. Today, Locations has over 400 agents across the state with five offices on Oahu, one on Maui and four on the Big Island (Clark Realty). Through our non-profit, the Locations Foundation, our agents and staff support more than 100 Hawaii non-profit organizations both through monetary donations and volunteer hours.

Visit LocationsHawaii.com/about-us today to learn more. For up-to-date Hawaii real estate updates, follow Locations on Facebook at: www.facebook.com/LocationsHawaii, Twitter at @LocationsHI, Instagram at @LocationsHawaii, and LinkedIn at www.linkedin.com/company/locations-hawaii. Read the Locations blog at: www.LocationsHawaii.com/news.