CONGRATULATIONS to LEON CHINGCUANGCO! Leon closed his biggest sale to date with the sale of this beautiful resort unit at Beach Villas @ Ko Olina! Leon was able to negotiate a quick close for his client, and closed in just 22 days! If you've been dreaming of buying a Hawaii resort property, stop dreaming and make it happen with Leon Chingcuangco and his team at www.AlohaTony.com
Since thousands of people are moving to Hawaii in 2021, here are some things to know before moving to Hawaii:
We measure distance by time, not miles.
20 miles in the mainland could be a 30 minute drive, but on Oahu, expect it to be up to an hour. We do have freeways, but they don’t connect towns like you might be used to. There are no rest stops or food signage. Your map app is a necessity - even for locals. Social media groups and local news/radio are also important traffic guides. Before you buy, know your commute.
The tropic sun
Wear sunscreen. The sun you might be used to in the mainland may not feel the same. No matter your skin tone, you will burn easier. The heat is also different. Until you have lived here for awhile, you will feel hot and muggy and sweaty. Air conditioners are common, but energy prices are steep. The 2019 average cost of electricity in Oahu was $0.29 per kWh (it’s higher for other islands).Fans and cooler showers will be your best friends. Also - always keep sunglasses in your car. Even if it’s cloudy and rainy, the weather can change with a 10 minute drive.
Hawaiian culture
There is an entertaining side to Hawaii culture, but it is all steeped in history and tradition. Be ready to learn. “Hawaiian” is not the same as “Texan” or “Californian.” Hawaii is born from a rich and diverse Polynesian heritage. This ancestry and bloodline are the only ones who can be called “Hawaiian.” Many people groups came here to work on the plantations, creating a special melting pot. This resulted in the Pidgin language, blended cuisine, and community becoming like family. Local children grow up referring to most adults as “auntie” and “uncle. They also grow up learning Hawaiian words, music, and dance, often culminating in a school program called “Lei Day.”
Moving your pets
If you are moving with your pets, you will need to start the process early. Hawaii is a rabies-free state and has strict quarantine laws for any cats or dogs moving here. Some highlights from the Hawaii’s Animal Industry Division are listed below. Following these rules will be the difference from having your your dog or cat being released directly on the day you arrive or having them stay up to 120 days of quarantine.
The good news is that when your pet finally is reunited with you in Hawaii, there are several great dog parks and animal-friendly condos and communities to find a home.
10 days before you arrive, assure your cat or dog has a working electronic microchip.
More than 30 days before you arrive, assure your cat or dog has been vaccinated at least twice for rabies in its lifetime. The vaccines must be administered more than 30 days apart. Obtain a rabies vaccination certificate for each of the vaccines from your veterinarian.
More than 30 days before you arrive, do a FAVN Rabies Antibody Test at an approved lab. Once you have a successful test, wait at least 30 days before you arrive in Hawaii, or your pet will be subject to quarantine for $14.30 each day along with a $244.00 fee.
Complete all the documents and send them in a set, so they arrive 10 days before your arrival.
Schedule flights to arrive by 3:30 p.m., so the Airport Animal Quarantine Holding Facility has time to inspect and release your pet before 5 p.m. closing time. Otherwise your pet will have to stay overnight for an additional $59 fee.
Be ready to pay the $185 Direct Airport Release fee upon arrival.
Owners wishing to fly their pet direct to the island of Hawaii, island of Maui or island of Kauai must send in documents in 30 days or more before arrival and request a Neighbor Island Inspection Permit.
Speaking of animals:
You won’t have squirrels or snakes or gators to deal with, but Hawaii has it’s own variety of wildlife. Geckos, peacocks, whales, turtles, mongoose, wild boars, fish, roosters… you could find them all in one day here. There is diversity amongst the islands, too. Kauai is known for its chickens and Nene birds. Molokai and Maui are known for their deer. In the mountains of Oahu, wild boar are found, and are often hunted by the locals.
Banking in Hawaii
There are no brick and mortar national banks: no Wells Fargo, Bank of America or Chase. So make sure you can have your ebanking information handy and have enough cash and checks to help you get settled. Alternatively, set up a local account in advance. Some of the more prevalent banks in Hawaii are Bank of Hawaii, Central Pacific Bank, American Savings Bank, and First Hawaiian Bank.
Congratulations Tony! Tony Kawaguchi just sold this 4.8 million dollar Paiko Lagoon property!
The large grand gated driveway leads to the private, landscaped ocean front level lot, almost 3/4 acre in size! Luxury living in this 4BR/4.5BA 2-story home with an executive chef's kitchen, wine cellar and 3-car garage. Let's talk about Luxury Living on Oahu! Contact Tony today about your dream home search!
"Don't fight the Fed," is what people say about the stock market when the government prints (fiat) money like it's going out of style (it is.) Inflation is here, and even the Fed finally acknowledged that this week. What this means is that your dollar buying power is declining, especially in hard goods, physical things. Maybe not yet in services and labor, but that's coming too.
So why are Hawaii housing prices still rising like a rocket to the moon? #1 Inflation, #2 low rates, #3 low inventory, and #4 people fleeing to their perceived greener pastures. And the greenest pasture is in the tropical island paradise of Hawaii.
We saw strong sales in February, with single-family home sales increasing 5.3% and condominium sales soaring 41.1% over last year. Single family homes set a record median sales price of $917,500, a 20% year-over-year increase and a 3.9% jump above last month’s record of $883,000.
48.5% of single-family homes and 29.1% of condo sales sold above asking price last month, with an average of nine days on the market.
The dollar is estimated to be losing about 20% in value this year, so the smart thing to do is to buy real estate.
A spacious, beautifully remodeled 3 bedroom 2.5 bath condo with a double wide lanai and peaceful garden view in the heart of Kailua town. Ride your bike to the beach or to nearby shopping from this gorgeous condo with a brand new wide open kitchen, brand new floors, fixtures, and remodeled baths. You'll love the cool breezes that flow through this unit in quiet Gardenia Manor, one of the best complexes in Kailua. A gorgeous immaculate unit you have to see to appreciate!
This is one of the best units in Esplanade, a 2 bedroom ground floor corner location with a private enclosed yard that leads to a large grassy common space. With no elevators or stairs to this unit, it has the convenience and accessibility of a single story home, but with the benefits of the Esplanade condo. This beautiful condo has remodeled bathrooms and floors, a spacious kitchen and living space, and has been expanded to larger than the standard size. Pet friendly Esplanade has a salt water pool and jacuzzi, 2 tennis courts, pool table, BBQ areas, gym, putting green, beautiful common areas with koi ponds, storage lockers, security guards, and of course marina frontage with docks! One of the best condo buildings in Hawaii Kai!
Everyone I know was wrong about the real estate market in 2020. I've been in the business for 21 years now, and I am usually pretty accurate with my predictions, but last year I thought the market would fall dramatically because of Covid, and I could not have been more wrong.
The Hawaii real estate market finished at $870k median price for single family and $455k for condos, both up in the last 12 months, with sales very strong.
Most surprising is that the average home sold in just 10 days, and most sold at asking price or higher! We had many listings in 2020 that received more than 10 offers.
So now with the government printing money and interest rates low, what will 2021 be like? Maybe we will be dead wrong again, but we feel that prices will rise about 5-7% because inventory is low and money is cheap, and everyone wants to live in Hawaii.
We've had dozens of clients coming from CA, NY, NJ, and WA. It's probably going to pick up even more when it's easier to travel, and when people are taking vaccines.
Whatever you think the market will do in 2021, I know for sure, I was wrong in 2020.
Whatever you think your Hawaii home is worth, add 20%, because that's probably how much it will go up in the next few months. The real estate market is absolutely on fire right now. There are not enough homes on the market, and the average house is selling in under 10 days.
In Ewa and Kapolei, the inventory is currently 0.3 months, while normally it's about 6 months of inventory available. We have seen listings receive 20+ offers, all over asking, especially under $1million. The market over $4million is a lot slower, but anything up to about $2million sells quickly.
The number of sales dropped by 0.6% only because inventory is so low! Condo sales had a 1.7% increase compared to the same period last year. The number of homes sold above asking price more than doubled from last year, while the number of condos sold above asking price increased by 63.9%
Thousands of people are escaping the mainland chaos and moving to Hawaii! Well, here is your dream escape property - 5.5 acres of off the grid farm living with an ocean view.
I recently visited this amazing property on the North Shore, 56-1080 Kamehameha Hwy, and was blown away by what I saw. Great job Jana Staggs on this listing!
Priced at $2.5million, this amazing property is a good value, considering it sits on about 240,000 square feet of land and has room for farming, horses, and more. It's about 5 1/2 acres, which in Hawaii is massive.
As you wind up the nearly unmarked road away from the beach, you come around the bend and find this beautiful property that is completely off the grid and has a separate in law unit, a work shop, a farm, a shooting range, and more.
The main house is 4 bedrooms 4 baths, and the guest house above the garage has plenty of room for visitors.
It's completely off the grid with its many solar panels, and has ocean views from multiple rooms. You can watch the sunrise and have horses & farm animals on this massive lot. There is also a 768 Square foot workshop above the garage and a farm shed of about 1,000 Square Feet. Listed at $2.5mil by Corcoran Pacific Properties.
Look at this quality construction!
The property is on a private septic system and has its own well water with a 2,800-gallon storage tank. It's about 10 minutes past Rocky Point (coming from Haleiwa side) near Turtle Bay resort. Below is the beautiful wide open kitchen.
And you should watch the video
Here is a photo of the land itself, highlighted.
And you get a view of the ocean from the bedrooms.
If you're looking to escape California or NY and move to Hawaii - this is the property for you. No crowd, no pollution, and likely no Covid for miles!
And this is the 'worskshop' that would make a perfect homeschool room!
The Kawaguchi Group is excited to announce that we have joined eXp Realty Luxury Collection in Hawaii.
Since our previous broker became a Realogy company, we decided to avoid paying expensive franchise fees and commission splits for an office that we never used.
With 20 years in the business and 7 Top 100 awards, we had generous offers from a dozen brokers.
So why did we join eXp?
1.100% commission after paying a company cap of $16k at an 80/20 split. For the average agent with about $3mil per year in closings, that saves about $10,000 per year in their commission split. What would you do with $10,000 extra per year?
2. Stock Awards: eXp agents can invest 5% of commissions to purchase company stock (EXPI) at a 10% discount.
3. Revenue Share: eXp agents receive about 3% of the company’s income before profits, for any agent you attract to the company! This creates a monthly passive income for you, as long as that agent is with eXp. Many eXp agents are earning over $10k per month in revenue share.
4. Brick and mortar is dying, and cloud based business is NOW. No more desk fees and empty offices. The virtual office at eXp is like no other broker in the world, with dozens of free live classes offered weekly on the cloud.
5. We are rebranding eXp in Hawaii. The eXp Realty - Luxury collection is new to Hawaii, and The Kawaguchi Group will be growing that brand on Oahu to become one of the premier agencies for luxury business.