What's Driving Sales In Aina Haina?
What’s the scoops with Aina Haina and Kuliouou? Per the Honolulu Board of REALTORS® , comparing October 2016 to October 2015, there was a 225% increase in closed sales for single-family homes. In addition, using the same metrics of comparison, the median price increased 6% to $1,070,000 from $1,010,250.
There were 13 closed sales in the Aina Haina (TMK: 1-3-6) – Kuliouou (TMK: 1-3-8) area during October 2016:
6 homes sold in the Aina Haina Area neighborhood, 4 homes sold in the Hawaii Loa Ridge neighborhood, 1 home sold in the Paiko Lagoon neighborhood, 1 home sold in the Niu Valley neighborhood, and 1 home sold in Kuliouou neighborhood.
The median price of these sold homes was $1,070,000, with a low of $750,000 and a high of $4,300,000.
Digging deeper into the statistics, 5 out of the 6 homes located in the Aina Haina Area neighborhood sold for less than $1,000,000. Of these 6 Aina Haina Area homes, 4 homes were built in the 1950s, 1 home was built in the 1960s, and 1 home was built in the 1970s.
Why were Buyers attracted to the Aina Haina – Kuliouou area? Could it be the school district? Maybe Buyers realized they couldn’t afford the Kahala price tag, but living in Aina Haina – Kuliouou still gave them the suburban life style they desired.
On the flip side, what prompted Sellers to sell? With Kaka’ako being built out, maybe [elderly] owners are trying to downsize.