Hawaii's mortgage payments three times the average national amount

In an article written by Pacific Business News and according to statistics from LendingTree.com, Hawaii had the biggest average home mortgage amounts in the nation and triple the average monthly payment over the nation.

The average home loan amount in Hawaii was $677,299 and the average monthly payment for a Hawaii home buyer with a fixed 30-year mortgage was $3,234 per month.

Please see the full article "here"

Kengo Ueno (R)

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Neighborhood information - Pearlridge, Hawaii

Pearl City

Pearlridge is also near Pearl Country Club which offers golfers a challenging course overlooking sights like Pearl Harbor, the Arizona Memorial, the USS Missouri, and the Waianae Mountain Range. The country club offers tee times, access to a driving range and practice putting greens year-round to residents. Pearlridge is part of the Pearl City complex with eight elementary schools feeding into Highlands Intermediate, then Pearl City High School. Pearl City High School is noted for its exceptional music program, and its concert and marching bands have been invited to play at various national and international venues.

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Merry "Hawaiian" Christmas

Merry Christmas from Hawaii

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Merry Christmas!!!

Merry Christmas!!!
From myself, my wife Asuka and our dog Maki!!!

Kengo Ueno (R)

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Hawaii's Sony Open just around the corner

Each January for the past 13 years, the Sony Open has attracted the world's greatest golfers to the Waialae Country Club on the island of Oahu. The event is the largest charity even in Hawaii and has raised over $11 million dollars since it's start in 1999.

Eight past winners have already committed to play in the 2012 annual event from January 9th to the 15th. They include Mark Wilson, Ryan Palmer (2010), Zach Johnson (2009), K.J. Choi (2008), Paul Goydos (2007), David Toms (2006), Ernie Els (2004,2003) and Jerry Kelly (2002).

This is first PGA tournament of the year and carries a purse of $5.5 million with the winner walking with a cool $990,000.

Check out  http://www.sonyopeninhawaii.com/ for more information.

Kengo Ueno (R)

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Oahu was named top island getaway

In an article published by KHON 2 News and according to Yahoo! News, Oahu was named top island getaway in the U.S. Here is the complete article: http://bit.ly/rtLxle

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Neighborhood history and information - Kapolei, Hawaii

Kapolei is one of the fastest growing areas in the state of Hawaii, and was developed to become the “second city” of Oahu to meet the needs of an expanding population that could no longer be accommodated in the general Honolulu area. This master-planned community was meant to be an alternate urban center where residents could live, work, and play. To achieve this, Kapolei has become the site of many new homes, a business park, medical park, government services complexes, and houses the state’s largest industrial park. The residential community in Kapolei consists of single-family homes, townhomes, and executive homes with amenities like marinas, golf course access, and community recreation centers. Residents never have to travel far to get the necessities that they need. Between the many new developments like Kapolei Shopping Center, Kapolei Entertainment Center, and the Kapolei Parkway Shops, residents can find venues to eat out or shop for groceries for home-cooked meals, rent videos or make it a night out at the 16-theatre movie complex. The Kapolei complex is made up of four elementary schools which feed into Kapolei Middle and High Schools. Pearlridge is home to one of Oahu’s largest high-rise condominium markets, and also hosts a number of townhome locations as well. Most of the residential area is within a few blocks from Pearlridge Shopping Center, the state’s largest enclosed mall. Large chain stores like Macy’s, Inspiration Furniture, Sears, Borders Books and Music, and Toys R Us anchor the shopping center and it is also home to 16 theatres, 12 full-service restaurants, 2 food courts, 2 arcades, a miniature golf course, and an emergency clinic.

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2011 Year's End Checklist

☑ Kim Jong Il
☑ Khaddafi
☑ Osama Bin Laden
☑ Saddam Hussein
☐ Blackberry

Hawaii leading the way to renewable fuel

Hawaii is leading the way to renewable natural gas technology with the first ever $2 million test plant situated on 5 acres at the Campbell Industrial Park in West Oahu. The Hawaii Renewable Energy Development Venture, which is funded by the U.S. Department of Energy has awarded a $1 million grant to The Gas Co. to fund the test plant. The Gas Co. will match that fund also.

The plant uses nonfood-grade oils and fats to turn them into reliable gas and biofuels. Please read the full article published by the Pacific Business News and written by Duane Shimogawa "Here".

Kengo Ueno (R)

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Oahu's Real Property Valuation up in 2012

In an article published by the Pacific Business News, the assessed value for properties on Oahu went up 1% overall in 2012. Commercial real estate alone saw a 4.4% increase according to the City and County of Honolulu.

The total gross valuation of all the taxable property on Oahu went up to $180.15 billion in 2012 from $178.26 billion from the year before.

This will likely have an effect on what homeowners pay for property tax. For the full story, click "Here".

Kengo Ueno (R)

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Hawaii Kai Neighborhood Information

Hawaii Kai

In the 1960s, Henry J. Kaiser dreamed of creating a California marina-style community and began dredging the area of the Maunalua fishpond and Kuapa wetlands. The result was the transformation of Hawaii Kai from a “country area” used for farming into one of the most affluent communities on Oahu. Hawaii Kai is considered one of the premier suburban areas of the island and includes single-family residences, townhomes and condominiums. West Marina is the neighborhood in Hawaii Kai in direct vicinity to Koko Marina, from which it gets its name. The marina area itself is surrounded by a variety of restaurants and other services including supermarkets, fitness centers, and even medical facilities so that the 12-mile trek to downtown Honolulu is rarely necessary for residents. There is also a movie theatre, ample playgrounds, and nearby golf courses and tennis courts available for recreational use. For outdoor and water sports, Maunaloa Bay is frequented by residents and visitors alike for water skiing, boating, and canoe paddling. Additionally, Hanauma Bay—a nature preserve which remains one of the top attractions on Oahu—is just a short drive up the road. West Marina is part of the Kaiser complex with several elementary schools and Niu Valley Middle School feeding into Kaiser High School.

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Hawaii ranked top 7 areas with monthly home value increase

In an article by published by Inman News, They report that U.S. home values continue to drop in October but at a rate that shows stabilization in the marketplace according to the Zillow Home Data Index.

Out of 156 metropolitan areas, only 10 metros saw an annual home value increases. 7 of those metros also saw a monthly increase which included Honolulu, Hawaii.

Please click "Here" for the complete report.

Kengo Ueno (R)

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Hawaii's hotel occupany and daily room rates are up

In an article written by the Pacific Business News and according to Hospitality Advisors LLC and Smith Travel Research, hotel room rates and occupancy was up in October.

Hotel occupancy across the state was up to 72.5% compared to October of last year. This is 1.6% increase. Average daily rates across the state were up 7.4% to $176.18 also.

Just in Waikiki, hotels were 83.1% occupied which represents a 3% increase over last year while average daily room rates were up 9.6% to $163.05.

Hospitality Advisors President and CEO Joseph Toy said "Waikiki continues to be the engine of Hawaii's recovery in 2011, with strength building in Maui. The Waikiki market is finally starting to see the occupancy gap closing from the 2005 through 2007 period."

The October survey included 158 hotel properties representing 47,832 rooms, or 84.5 percent of all properties with 20 rooms or more.

Kengo Ueno (R)

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November Hawaii Real Estate Stats

The November Stats are out from the Honolulu Board of Realtors, and a lot of good news is popping up. Sales are still showing strength, and inventory is at levels not seen since 2005. Typically, stronger sales and low inventory, push median prices up. So far however, prices have been resistant to moving, and remain very flat. Flat is not a bad thing. Here is a brief summary of the November stats.

Number of Sales: SFH sales in November (246) increased over October 2011 (228) and November 2010 (237). Condo sales in November (316) matched October 2011 (316), and increased over November 2010 (306). On an annual basis, sales for both SFH and Condos have increased significantly since January 2011. Keep in mind, sales are a ‘leading indicator’ of prices. The attached graphs show the connection of sales to price. Prices are being stubborn however.

Median Sales Price: SFH November median price ($585,000) is up from October 2011 ($579,500) and exactly matches November 2010 ($585,000). Condo November median price ($292,500) is down from October 2011 ($306,250) and lower than November 2010 ($312,000). This will be the media’s headline.

So far this year, November median sales prices for both SFH and Condos are up over January 2011. Prices are also still up over the market bottom of mid-2009. SFH hit their low of $570,000 in June of 2009. Condos bottomed out at $291,000 in August 2009, and dipped to $290,000 in January of this year. Prices peaked in June 2007 with the SFH median reaching $684,000 and the Condo median topping out at $342,000. These milestones are marked on the attached Median Sales Price pdf.

Days on Market (DOM): SFH DOM (36) dropped from October 2011 (45) and from November 2010 (42). Condo DOM (41) were up from October 2011 (39) and down from November 2010 (46). We have to look all the way back to 2005 to see a November DOM this low.

Inventory: Inventory continues to fall. November SFH inventory (1,198) was down from October 2011 (1,234) and well below November 2010 (1,352). The Condo inventory drop was even bigger. November Condo inventory (1,674) was below October 2011 (1,719) and a huge drop from November 2010 (1,990). SFH Inventory levels for November 2011 are lower than November of 2005 (1,382). Also attached is a graphic view of inventory.

Months of Remaining Inventory (MORI): As you may expect with the low inventory levels, MORI was down for both SFH and Condos. November SFH MORI (4.9) was down from October 2011 (5.1) and November 2010 (5.5). November Condo MORI (5.1) was down slightly from October 2011 (5.3) but down considerably from November 2010 (6.2). We have seen a SFH MORI of 4.9 or lower only a few times since 2005. And we have to go all the way back to the market run up from 2003 to 2005 to see a Condo MORI of less than 5.1. 

Overall, the real estate market in Hawaii is holding it's strength with historically low interest rates, low inventory and buyer demand.

Please let me know if you would like me to email you the all the November stats with graphs and data.

Kengo Ueno (R)

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The Honolulu Marathon

Today, more than 25,000 runners competed in the Honolulu Marathon. This race is among the top 10 largest marathons in the world. Competing up there with the ranks of Boston, Chicago, London and New York.

The Honolulu Marathon started in 1973 and back then only had about 150 finishers. Now, the annual race has runners from all over the world participating with 60 percent of the runners coming from Japan.

This iconic race is not only a one day event for Hawaii but builds for about a week leading up to the day of the race. A four day Sports Expo at the Hawaii Convention Center kicks off the week which attracts thousands and where participants can pick up their race numbers while checking out new product booths and information. There is also a luau party / carbo loading dinner for participants on the Friday evening before the Sunday race to get them ready for the long journey.

On race day, participants start at 5:00 a.m. from famous Ala Moana Beach park with fireworks marking the start of the run. Runners pass numerous Hawaiian landmarks on this 26.2 mile course which include the Iolani Palace which is next to downtown and is the only Royal Palace in the nation. Kawaihao Church, also near the downtown route was built from coral reefs from in the ocean nearby. Runners also pass famous Waikiki Beach and the statue of the father of surfing, Duke Kahanamoku and many more island sights along the journey.

Runners converge and end their run at famous Kapiolani Park, at the foots of Diamond Head. There, they are greeted with shell leis, a finisher's t-shirt, and this year, a malasada (Portugese doughnut). The Kapiolani Park grounds also become a large festive event with tents and booths to treat runners to massages and the award ceremony.

This is a race of champions with participants of all ages, genders and races from around the world. If you don't have a chance to run in the spectacle, at least cheer and enjoy the energy that is part of this iconic annual race in the middle of the Pacific Ocean.

Kengo Ueno (R)

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Billabong Pipe Masters is on today

Waves are smaller on this third day of surfing at the Billabong Pipe Masters here on the North Shore of Oahu but the action is still at it's best. We are now in the quarterfinals of this prestigious event. You can check it out the live stream "here". Kelly Slater is currently 2nd behind Joel Parkinson of Australia. Check it out. 

http://vanstriplecrownofsurfing.com/billabongpipemasters2011/live-gb

Kengo Ueno (R)

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Honolulu's real estate market ranks in Nation's top 15

In an article written by Pacific Business News, Honolulu ranked in the top 15 performing real estate markets in the nation year to date. According to housing data from Clear Capital, Honolulu had one of the lowest bank repossessions in the nation. Honolulu also showed a 1.9% quarter-over-quarter price gains which ranked it number 14 across the nation. Please click here for full story.

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Home sales up and selling quicker in November

Oahu home sales and condominiums were up and were selling quicker last month compared to November of 2010.

November statistics from the Honolulu Board of Realtors reveal that there were 251 single family homes that sold compared to 248 from the precious year.

Condo sales went up from 316 to 333 units from November of 2010.

Home sales were selling at a quicker pace with current "Days on Market" at 35 days for single family homes and 42 days on market for condos.

Median prices for single family homes went up from 1% from $580,000 and condo went down 5.4% to $295,000.

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Neighborhood information - Salt Lake, Honolulu

Salt Lake, Honolulu

The residential area of Salt Lake is comprised of high-rise condominiums, mid-rise town-dwellings, and houses that were built during the construction boom of the 1960s. The suburban area is alternately referred to as Aliamanu because of its close proximity to a nearby crater that shares the name. The name “Salt Lake,” however, is derived from the crater the area actually resides—Alia Pa’akai, or “salt pond.” Salt Lake is a green neighborhood community with ample access to parks despite the many urbanized dwellings in the area. Salt Lake District Park, the largest in the neighborhood, has various hiking trails that lead up and around the Aliamanu and Alia Pa’akai craters. The park also houses basketball and tennis courts, playing fields, a gymnasium, and a 50-meter swimming pool. Salt Lake Municipal Park hosts the People’s Market on Saturday mornings, a venue that gives residents the opportunity to purchase agricultural and aquaculture products directly from local businesses. The Salk Lake Shopping Center is the centralized commercial venue of the district. There are large chain stores like Safeway, Longs Drugstore, and McDonalds, as well as a slew of smaller, locally-based eateries and service store. Salt Lake is home to one of the most acclaimed public schools on Oahu, Moanalua High School. MHS opened in 1972 to meet the growing educational needs of the Salt Lake community and has gained reputation for its academic excellence over the years—even being dubbed by the Honolulu Advertiser as “the private school of public schools.” Aliamanu Elementary and Middle Schools feed into Moanalua High.

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Home sales and prices up on Kauai for the month of November

On an article by Pacific Business News, homes sales and prices are up on Kauai for the month of November. This according to Hawaii Information Service's statistics.

Single family homes saw a small rise from 40 home sales in November of 2010 to 43 home sales in November of 2011. Prices was up 5% from $452,500 of last year to $475,000 this November.

It was a different story for condo sales. Condo sales remained relatively flat and sideways at 21 sales while prices seen a decrease of 34% from $325,000 in November of last year to $215,000 this year.

The year-to-date sales show an increase of 7% while the median prices were down 9% for Single Famliy homes.

Condo year-to-date sales were higher by 18% while median prices were down by 18%.

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Neighborhood Information - Makiki

Makiki

A close-knit community, Makiki, is in the core of Honolulu that mainly consists of older houses and apartment complexes. As a centralized location in Oahu’s most urbanized city, Makiki is kept clean and safe by its residents and through the work of Hui O Makiki, a nonprofit organization of neighbors who address issues like graffiti eradication and fostering a strong sense of community among residents. Makiki hosts multiple locations that promote family-oriented activities for residents. The Hawaii Nature Center, an organization dedicated to nature education since 1981, offers guided hikes, nature adventures, and earth care projects on weekends. Makiki District Park provides a spacious, open arena in the busy neighborhood and is equipped with tennis and basketball courts, a skateboard ramp, swimming pool, and playground. The nonprofit group, Friends of Makiki Library, run the reading room and lending library for recreational literary enjoyment of the district, a testament to the close-knit ties that hold the community together. Several churches of various denominations are located within Makiki and many of them offer free or low-cost services to residents like senior center classes, tutoring for students, discussion groups, and community-oriented activities like hiking or board games. The Makiki Shopping Village offers residents convenient access to several casual eateries, a video rental venue, wine shop, and a small corner market stocked with groceries. Schools in Makiki are part of the Roosevelt complex, and it is also home to the illustrious, private Punahou School.

 Kengo Ueno (R)

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Best FREE way to search for homes in Hawaii

The Prudential Locations App is the best and only App of it's kind out there for the State of Hawaii. It allows you to pull up property information and pictures while on the go on your iPhone, iPad or Android. It's a great way to drive through a neighborhood and see what homes are for sale there using your actual location. It maps all the homes on an easy to use mapping system and even shows homes that sold in the area. The best part of the App is that it's free. Download your free App today at: http://bit.ly/uGynS6

Kengo Ueno (R)

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Maui homes sales up 26%

Sales of single family homes on Maui was up 26% in November from same month a year ago according to the Realtors Association of Maui. This number reflects 73 homes that sold in November of 2011 compared to 58 that sold in November of 2010. The medium price was up 1% from $445,000 to 4450,000.

Condominium sales saw a rise of 12% last month. This reflects 74 units that sold compared to 66 units that sold a year before in November. Though the number of units sold went up, prices went down for condominiums from $349,990 to $261,750.

Kengo Ueno (R)

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A new condo announced for Kaakaako, Honolulu - Waihonua at Kewalo

Waihonua at Kewalo, a new 43 story condo was just announced for the Kakaako neighborhood. The building will have 345 one-bedroom, two-bedroom and three-bedroom units with prices starting in the $400,000, $565,000 and $720,000 price range. It will be situated between Koolani and Hawaiki Towers which is on the luxury block of Kakaako.

The key and difference to Waihonua at Kewalo will be their approach to using "Green", energy-efficient materials and technology to construct this building. It will be the leader to a eco friendly building with a much smaller carbon footprint.

Please check out the following three links for more information on this new project.

http://bit.ly/srCqs1 Pacific Business News

http://bit.ly/rMDT4e KITV 4 News

http://bit.ly/v9vx0H Honolulu Magazine

Kengo Ueno (R)

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