Supply Low, Demand High In Kaneohe
BY LISA LEE
When it rains in Kaneohe, waterfalls are replenished, the Ko’olaus flourish and the beauty of the Windward side of the island comes alive. But the spellbinding, idyllic setting is not all that’s green in this tranquil neighborhood. Year-to-date median sales prices for both condominiums and single family homes in Kaneohe are at record and near-record highs, and homes are selling faster than ever.
Dancetta Feary, REALTOR Associate at Prudential Locations, attributes the area’s desirability to its beauty, its community and its country feeling despite the close proximity to town.
“I grew up on Maunalani Heights,” says Feary, “but when I got to Kaneohe, I knew I was back home, the birthplace of my grandmother and generations before her. It’s the beauty of this place: you’re awestruck by the Ko’olaus, and then the ocean is so close by. It’s like being in the country yet you’re only 10 miles from downtown Honolulu. The Pali provides a wonderful separation: you feel far away, but the drive time to downtown is very short compared to most bedroom communities.”
It is not surprising, then, that Kaneohe’s residential real estate is in demand as Oahu’s overall market climbs. “Kaneohe is definitely on an upswing,” says Feary. Prices and the number of sales keep climbing, while the number of days on market for listings shrinks.
The median sales price for a single family home in 2013 year-to-date is $690,000, just a few thousand dollars shy of the 2007 record high of $699,000 – and median prices for condominiums are at a record high of $421,000. These prices are up 5 percent over the previous year.
The number of sales of both single family homes and condos has increased as well. This year’s sales to-date are already higher than the annual sales of both 2012 and 2011.
Sean Yano, REALTOR and partner at Prudential Locations, grew up in Kaneohe and has chosen it for his home. “I think a lot of people who grow up in Kaneohe choose to stay and/or come back when they have families of their own,” he says.
“The community is made up of a mixture of older people who raised their families here and younger families. Also, there aren’t any huge developments here. It is very peaceful and not a lot changes- it’s a very neutral and mellow place to live.”
Feary agrees. “People over here are more relaxed. When driving, people let you change lanes, there’s no honking horns. The population is very multicultural – there’s no one dominant culture over here. And we’ve got everything you need over here – the mall, the movie theaters, restaurants.”
According to Yano, one of the best parts about living in Kaneohe is coming back from the hustle and bustle of town to the calm views of turquoise waters, lush flora and moderate temperatures.
“Personally, I like coming back here after a long day at the office in town. It’s very peaceful and cooler, with beautiful views all around,” says Yano. “It’s also very close to some of the best beaches in the world and a beautiful drive to the North Shore beaches.
He adds that the rain in Kaneohe is normally just passing showers and mostly on the areas closest to the mountains. Besides, he says, “It’s what keeps this side of the island so cool.”
For more information on properties in Kaneohe, call 377-4646.