Waikiki Luxury – Market Indicates Now Is The Time To Buy
Emerging Significant Market Value
If you have been considering purchasing a home or condo in Waikiki, now might be as good a time as any to do so. Recent data shows that the average home price has fallen 12.4% year over year. Homes are also on the market for a shorter period of time year over year. These conditions make for a very competitive marketplace where the buyer has considerable leverage.
An Area Steeped in History
Waikiki originally was a much larger area than the 1.5 square miles it encompasses today. In the native Hawaiian language, Waikiki means “spouting water,” which is a reference to the rivers and springs that generously flow through the area. For a very long time now, since the 1450s, Waikiki has been the governmental center of Oahu.
Honolulu started its life as a small harbor village established by foreign fishermen in the early 1800s. Trade quickly flourished and the territory became an important center for merchant ships trading furs with the east and for local fishing and whaling ships. The waterfront has always been an historic and visually important aspect of Honolulu. King Kamehameha I moved his royal court here in 1809 to monitor trade from the numerous ships which were constantly arriving.
Today, Waikiki is a fully functioning center for luxury living. There are world-class hotels with familiar names like Hilton, Sheraton and Hyatt, and there are smaller operations that still provide plenty of aloha. Waikiki also boasts Waikiki Beach and the iconic slopes of the Diamond Head Crater. There’s the expansive Kapiolani Park, the Waikiki Aquarium, Honolulu Zoo and the International Marketplace (a shopper’s paradise located in the heart of Waikiki). Waikiki is also home to some of Hawaii’s finest restaurants and hottest nightspots. Tourism is high, with companies like Blue Hawaiian Helicopters offering tours around the island year round.
Always Something To Do
The Oahu the locals know is a place of many faces, embracing the activity of cosmopolitan Honolulu, the parks and nature preserves of the verdant southeast, and the wave-splashed shores and casual lifestyle of the rural North Shore. Whatever strikes your fancy – whether it’s hiking up to Maunawili Falls or walking the world-famous Waialae – you’ll find it all in a breathtaking setting. Nestled into a luxurious mountainside or beachfront home, you’ll feel as if you’re a world away while being as close to paradise as you can get.
Luxury Condos and Homes Abound
Whether you are in the market for an estate or a pied a terre, Hawaiian Elite Real Estate knows the portfolio and will present you with a curated selection of available properties for your review. We offer showings both virtually and in person.
Start Your Search Now
Every detail of your search will be attended to. We offer a Buyer’s Guarantee that gives you confidence that we are certain you will be satisfied with our service. From showing to closing, Hawaii Elite Real Estate assists you ever step of the way with white glove service. Please call Ben Harper and the Hawaii Elite Real Estate team at your earliest convenience.