The MetroMonitor report examined indicators through the first quarter of 2010 in the areas of employment, unemployment, output, home prices, and foreclosure rates for the nation's 100 largest metropolitan areas.

It finds that:  The metropolitan areas that have had the most consistent job growth over the past year are Augusta, Austin, Charleston, Chattanooga, Dallas, Honolulu, Jackson, and Raleigh.

Thirty-two metropolitan areas had recovered their pre-recession levels of output in the fourth quarter, including Honolulu, which had continuous output growth since at least the second quarter of 2009. Most of these metropolitan areas are state capitals or other government or military centers.

Housing markets remained weak, with house prices lower in the first quarter of 2010 than in the first quarters of 2007 and 2009 in all of the 100 largest metropolitan areas.  Employment has begun to grow and housing markets are no longer in free-fall in some of the metropolitan areas that suffered most from the housing bust during the last three years.

 Cnn took the report and created this list to the left. 

Waikiki beach is getting much needed sand.  I was down there this past weekend with my church and there are some areas where there is very little sand at all. Tourists come to Hawaii to sit on the white sand, not on rocks, not in chairs.

State officials plan to spend $2.5million to restore a portion of sand on Waikiki Beach by taking it from nearby shoals, widening the 1,700-foot-long beach by about 37 feet between the Royal Hawaiian Hotel and Kuhio Beach.

The state Office of Conservation and Coastal Lands has completed its environmental assessment and plans to apply for government permits. The project is scheduled to start in January or February and would widen the beach back to its 1985 width.  The sand would be pumped to a dewatering site in an enclosed basin
within the eastern Kuhio Beach crib walls and then spread to the rest of
the beach.

One of the areas where the sand removal is planned is between surfing areas known as Queen's and Canoes,  which  will help to restore a channel that has been covered with sand from the beaches.

The $2.5 million for the project includes $1.5 million from the state and $500,000 from Kyo-ya Hawaii, owner of several nearby hotels. That might sound like a lot, but the sand is what people come to Hawaii for.  No sand = less tourists. 

For once this is a government spending plan I can support.

This house is located just one house back from the sand at V-land, one of Oahu's best surf spots on the North Shore.  Built in 2008 in gated Sunset Beach Colony, this beautiful 2775 sqft house is just amazing. It's about 15,000ft of land and only a few steps to the sand, a surfer's dream!

Homes in this neighborhood are worth up to $5 million, so this one is a bargain at $2,395,000.

The house has wood floors, granite counters, board and batton construction, and a huge open great room. The lanai off the great room has stacking pocket doors that look over the ocean view. Check out the kitchen here.

My clients flew in for the week to buy a vacation home, and this was definitely the best one we saw out of about a dozen around the island.  Congrats to my clients on this great purchase!

This house has a beautiful ocean view from Maunalani heights, overlooking Honolulu and looking down into Diamond Head. 

After viewing more than 20 homes around Oahu, my clients chose this brand new house with over 2700sqft and a massive 4 car garage. 

Check out this beautiful kitchen with granite, stainless steele, and a feature I had never seen before - self closing cabinet doors.  I had seen self closing drawers before, but the doors on these cabinets do the same. Try slamming them, and they just slowly close without a sound. 

This house has many great features: 

• Insulated attic
• Low-e windows
• Stacking glass lanai doors 
• Travertine tile floors downstairs
• Brazillian Cherry wood floors upstairs

There's a lot more, but the best thing is a amazing ocean view from every room!

I got an email this morning from a lender that I work with - 4.25% 30 fixed rates with 2 points origination. 

This makes buying a home incredibly cheap, cheaper than it has been in a long time, maybe ever.  Everybody should be buying a house and holding it for 30 yrs.  I'm serious. 

My friend from England told me this week than British buyers can hope for a 5 yr fixed rate at most, and usually more like 2 yrs fixed.  He was shocked the US has rates fixed for 30 yrs, and was very excited about buying a house. 

Most Americans have no idea  how good we have it right now!  To put this in perspective, during the mid 70's and early 80's, mortgage rates were up  in the 13%-17% range.  That would make buying a house basically impossible for most of us today. 

Do it now and hold the house forever. Or at least for 30 years. 

The average Honolulu house costs about $600k. If you borrow $500k of that, it costs you $2459/month at 4.25%. 

At 7%, it costs $3326/ month. 

At 10%, it costs $4387/month.

At 15%, it costs $6322/month.  

Personal income in Hawaii grew at the sixth-fastest
rate in the nation through the first quarter of this year, according to an article this morning in the Star.

Hawaii residents' personal income rose by 1.35 percent compared with
the fourth quarter of 2009, according to the report released by the
U.S. Bureau of Economic Analysis.

The personal income figures are not adjusted for
inflation.

Transfer receipts, which includes federal stimulus
funds and other federal payments to states, accounted for nearly 40
percent of Hawaii's increase in personal income, the BEA reported.

Federal stimulus funds, the bulk of which were for
government and private sector capital improvement projects, created
2,566 jobs in Hawaii during the first three months of the year,
according to a separate federal report released last month.

For all of 2010, personal income is projected to
grow by 1.9 percent, according to the state Department of Business,
Economic Development & Tourism, up from a 0.4 percent increase in
2009.

For anyone looking for a reason to visit Honolulu or invest in Honolulu real estate, the fantastic cuisine and the beaches are two of the best reasons. Being out in the middle of the Pacific, Hawaii has a wealth of cultural influences that make up its cuisine, from Asia, Europe, and North and South America. Below are some favourite picks of local restaurants, and a few great beaches of different styles.

Let's start with some favorite culinary picks in Honolulu:

Top of WaikikiWhile picking the only revolving restaurant is a bit predictable, for anyone new to Honolulu this restaurant offers a spectacular 360 degree view, with amazing food to match. You get to view the full range of Honolulu's scenic beauty from several hundred feet up, which fits perfectly with the pacific-fusion cuisine. While here I recommend the tasting menu which features dishes such as the spicy ahi poke stack with sambal and shoyu sauce, crispy won tons, avocado crčme, papaya slaw and greens with kiwi-lime vinaigrette. This sampling of seafood and meat dishes also affords you time to soak up the view as well.

Alan Wong's HonoluluIf you are looking for the best in fine contemporary Hawaii cuisine, you must visit Alan Wong's. This restaurant often appears on lists for the best restaurants in America, and Alan is even credited as being one of the fathers of contemporary Hawaiian cuisine. One interesting original appy here is Chinatown Roast duck nachos, with homemade tapioca chips and avocado salsa, bringing Asian and Latin flavours together.

The Pineapple RoomThis is the second of Alan Wong's restaurants and is another hot spot to visit. Located on busy Ala Moana Boulevard near Irwin park, this is a fun place for lunch or dinner. The “Pineapple Room Burger” my favourite here: Kiawe-Grilled Kuahiwi Ranch Natural Beef Burger, Onion Rings, Bacon, Cheddar Cheese and Avocado Salsa.

Puka DogIf you are looking for a quick and tasty snack that's a Hawaii original, try Puka Dog, a twist on the old-fashioned hot dog. Puka means hole in Hawaii, and refers to the special bun used. It is a unique recipe and instead of a cut down the side, a hole is ‘poked' through it. Then a selection of secret sauces and tropical fruit relishes are poured in, with a premium polish-style or veggie hot dog to follow. Once you try a Puka Dog, you'll be hooked and have to return to try different combos of sauces and relishes. This popular dog was even featured on the travel Channel'sAnthony Bourdain: No reservations

Bubbies Ice CreamIf you're looking for desert after, don't look any further than Bubbies Homemade Ice Cream & deserts. For 25 years, Bubbies has held the title of best ice cream in Hawaii, and is a must-visit for any sweet tooth. This ice cream can be found in fine restaurants across Hawaii and even stateside. But you must come here to enjoy a truly decadent experience. Along with all kinds of ice cream, sorbets and cakes, Bubbies is famous for itsMochi Ice Cream. It is a ball of creamy ice cream, wrapped in a sweetened rice confection. The result is an attractive sushi-styled snack you can even eat with chopsticks!

Now here is a selection of top Honolulu beaches, each with a completely different style:

Waikiki BeachOf course while in Honolulu you're going to find yourself on Waikiki beach, right at the heart of the action. While being too crowded for some, you come here for the excitement and people watching. You can hop from the beach to a bar for a drink or stroll down the boardwalk and shop.

Hanauma Bay Nature PreserveThis beautiful beach acts as a nature preserve, formed from a volcanic crater. This geography let coral and sea life flourish and now it is a designated preserve that you can use your snorkel to explore. Note there are no water sports here and the grounds are maintained. You pay a small fee to enter, that helps keep this ecosystem preserved for years to come. You will definitely spot some diverse sea life, making this a worthy visit.

Kahala BeachesIf you are looking for less-crowded beaches, head to Kahala. This area is home to million-dollar vacation homes and high-end resorts, popular with celebrities. Don't worry if you don't reside beach front though, this tranquil area is only 15 minutes away from busy Waikiki beach.

Kailua Beach ParkThis beach is often considered the best beach in Hawaii and is situated in a perfect crescent-shaped bay with crystal blue water. The steady trade winds also make it one of the top wind-surfing and kite-surfing spots in the world. If extreme sports aren't your thing, it gives you a great chance to see it first hand while you relax at an amazing beach.

Hope you enjoyed my pick of beaches and restaurants in Honolulu, Hawaii. So if you're a foodie or just a fan of the tropical climate, this makes a perfect place to buy a home or just to visit.

This 2 bedroom condo in Kailua is about a 5 minute bike ride to world famous Kailua beach. It's a short sale listed for $350k, and we are not doing any showings until Saturday June 26th. I have already had multiple buyers say they want to write an offer sight unseen. 

In  a short sale, the lender has to approve the sale price, which can take many months. The last few I have done have taken more than 6 months each.  If you have the patience and about $350k (at least), then this might be a good opportunity to get into the condo market in Kailua.

It has new wood floors, a brand new kitchen including nice stainless appliances, and renovated bathrooms.  You don't even need AC because there is a gentle sea breeze almost everyday in this area of Kailua. 

2bed, 2bath, about 940sqft, and only $350k in Kailua!

I don't usually post an entire statistical report for download, but here it is for May.

The reason I am posting this one is because the numbers just speak for themselves. In short - 

• Sales are up everywhere.
• Inventory is down everywhere.
• Prices are up everywhere.  

If you read this report and you don't see that the market is improving, you should be in a different business. Try investing in Amway or something  :)

Maybe the best numbers to look at are

• "Days on market until Sale" on page 7.  Currently, homes in Oahu are selling in 27 days.  Condos sell in 28 days. 
• "Percent of original list price recieved at sale" on page 8.  Most homes sell at 96.3% of their asking price. 
• "The Inventory of homes available" is at a 4 year low on page 10. 
• Currently there is a 6.1 month supply of homes for sale. 

Read the report and see if you can find any indicators pointing the other direction.  I dare ya.

Don't say I didn't warn you.  The number of home sales on Oahu jumped in May, and prices also posted gains compared to the same month last year.  Year-to-date sales rose by 40 percent!!!

The median price of a single-family home in May was $606,000, 12 percent higher than May 2009, when the median price was $542,000.  That was based on 284 home sales, which was a 31.5 percent increase over 216 sales in May 2009.

Condo sales on Oahu soared 35.5 percent in May to 355 units sold, up from 262 units sold last May, and the median price rose 4 percent to $312,500. 

There were 1,183 sales of single-family homes during the first five months of the year, which was a 40 percent gain over the same period in 2009.   Condo sales totalled 1,605 during the January-May period, a 47.5 percent gain over 2009.