Makaha Condos - Get 'em while they're hot!Posted by Mike Bates on Monday, January 9th, 2012 at 4:42pm.
Makaha Condos are Moving
2011 was a busy year - it was my busiest year ever! A good reason for it was the sale on properties in Makaha. Condos, townhomes and even single family homes were half price compared to the peak years of 2005-2006.
People want to buy low and sell high for good reason. The only problem is, when prices are low, people get worried that prices will go lower and then they don't pull the trigger. I believe the bottom has already passed. Prices are higher now than they were several months ago and I think they will continue climbing.
Looking at past trends, Hawaii's real estate cycles run about 8-12 years. We maybe just one year into a new cycle. Therefore, if you missed the bottom don't despair. There maybe a lot more upside to come.
Makaha Valley Towers
Most of my business in Makaha during 2011 was at the Makaha Valley Towers. This building is popular because it's clean, well maintained, secure and most of the units have an ocean view. Studios are popular because they have large lanais. One bedroom units are popular because, well they have a bedroom. A downside with the one bedrooms is that their lanais are smaller than those of the studios. A one bedroom lanai is about two feet deep and runs the width of the condo. Just enough room to step outside, not enough room for a table and chairs.
I represented several buyers on studios and one bedrooms at the Towers in 2011. They paid between $80,000 - $100,000. The buyer who paid $100,000 got an elegantly remodeled one bedroom foreclosure - even though he paid the most, I think he got the best deal.
At this point prices are getting closer to $100,000 and up at Makaha Valley Towers.
Makaha Beach Cabanas
You want affordable sandy beachfront? This is the best deal on the island. Makaha Beach Cabanas are situated on a lovely beach. The Cabanas are right next to another building, the Hawaiian Princess. The Hawaiian Princess is leasehold (not fee simple like the Cabanas) so you might want to pass on that one.
In 2011, I represented two buyers and two sellers for a total of four transactions at the Cabanas. Prices ranged from $155,000 - $165,000 on these sales. Three of the units were in "so-so" condition and one was in above average condition. Buyers at the Cabanas are generally fixing these units up and using them as second homes or as long term rentals.
Makaha Valley Plantation
Makaha Valley Plantation townhomes are popular because they generally have two bedrooms, two baths, 815 square feet of interior space and a lanai. They are also pet friendly.
I did not close any sales at the Plantation in 2011. I did have several buyers, some of them canceled on short sales and two currently have offers on short sale listings.
A nice building in Maili (between Makaha and Kapolei) is Maili Cove. It's on a sandy beach.
For the lowest prices on Makaha Beachfront, take a look at the Makaha Surfside.
Makaha Shores is located right at the famous Makaha Surfing beach. These units tend to be a little smaller and pricey, however if you want to surf in the morning you can carry your board right outside when the waves are up and catch some barrels!
Aloha, Mike Bates
Michael Bates (RA)
i Properties Hawaii
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