Luxury, Convenience And Value In Kahala
WHAT’S IN A NEIGHBORHOOD?
Oahu’s quintessential luxury neighborhood, Kahala is perennially popular with local and international buyers alike. While viewed in the MLS as a single neighborhood, the Neighborhood Experts at Locations actually consider Kahala to be comprised of over 14 distinct micro neighborhoods. It’s through this detailed analysis that Locations has helped guide Kahala’s luxury homeowners to realize some of the best long-term home value appreciation on Oahu.
So, what makes the 14 micro neighborhoods of Kahala so unique? It’s a combination of characteristics and nuances that when combined help to define the micro neighborhoods – impacting desirability and price. The most common considerations in Kahala are lot size, the potential ability to merge lots to create compounds, privacy, traffic through-fares, access to public spaces, such as parks and the beach, and prestige.
Since the year 2000, homes in Kahala have more than tripled in value. The median-sold price for a single-family home in Kahala in the first half of 2018 was $2.9 million and it’s likely that the median will surpass $3 million by the end of the year. But, to look at all of Kahala, as one median price, would not do buyers or sellers justice. As the supporting graphic shows, Kahala homes vary greatly from street to street, each for a variety of reasons.
WHO OWNS IN KAHALA?
Popular with international homeowners for many decades, Kahala saw a huge influx of Japanese buyers in the 1980s and early 1990s. However, it may come as a surprise to many that 75 percent of Kahala home purchases in the last year were by Oahu residents.
Many local buyers were from nearby neighborhoods, such as, Paiko Lagoon and Hawaii Kai. Moreover, 43 percent of Kahala purchases last year were from current Kahala residents – a shift from previous
years where closer to one in four Kahala buyers came from Kahala. In 2018, only one in four Kahala buyers were not from Oahu. Fourteen percent of buyers hailed from the mainland, while the remaining buyers were in Japan, China or other international countries.
“Kahala residents have seen how their homes have grown in value over the years and they appreciate all that the neighborhood has to offer,” said Scott Higashi, president and CEO of Locations. “Of Oahu’s luxury neighborhoods, Kahala is the closest to town and the most steeped in history and celebrity.”
WHAT’S FOR SALE IN KAHALA NOW?
The number of active listings in Kahala is the highest now as it has been since 2015, making this summer an opportune time for prospective Kahala homeowners. There are currently 35 single-family homes for sale in the Kahala area, ranging from $1.5 million for a four-bedroom, 2,300-square foot home in Pu’u Panini built in 2017 to a 15 million-dollar 6,100-square-foot beachfront estate built in 2006 on iconic Kahala Avenue.
To learn more about Kahala, visit LocationsHawaii.com/Kahala.