2017 BAH Rates for Oahu

The 2017 BAH Rates for Honolulu County (Oahu) have been released! Here is the updated chart:

2017 BAH Rates for Oahu

Oahu Real Estate Sales Activity – January 2016

January 2016 Honolulu County Real Estate Statistics

Below is the sales activity for the month of January 2016 compared to the same month last year. This covers resale homes for Honolulu County (Oahu) and does not include new construction homes.

With the new federal guidelines for lenders, we are seeing some home purchases taking closer to 60 days with
some lenders, instead of the previous norm of about 45 days.

Single Family Home sales volume and prices are up from the same time last year. Many homes are stillgetting multiple offers, due to extremely low inventory levels in some parts of the island.

Condos and townhouses are seeing increases in the sales volume, while prices have flattened out. Inventory levels are very low in parts of the island. We are seeing increases in prices and multiple offers in those communities. One of our listings in Mililani received 11 offers with just one short noticed open house.

On Oahu, there is still an overall shortage of housing units. Parts of the island, like the planned communities are still seeing heavy competition for entry level homes and are seeing price increases in those price ranges. Parts of the inventory are seeing less sales, mostly in the higher price ranges.



Single Family Home Resales

Month # Sales Median Price Avg. Price
Jan 2016 232 $733,500 $839,976
Jan 2015 210 $675,000 $799,448



Condos/ Townhouse Resales

Month # Sales Median Price Avg. Price
Jan 2016 338 $374,500 $420,376
Jan 2015 286 $381,500 $462,993

 *Median price means half the prices were above and half below the given price. Data was taken from the Honolulu Board of REALTORS® MLS system. It is deemed to be accurate, but not guaranteed.

2016 VA Loan Limit for Oahu Stays The Same

2014 Oahu VA loan limit increase

The 2016 VA loan limit for 100% financing for Honolulu County (Oahu) remains at $721,050 for another year.

In 2014 the rates were raised to $721,050 after dipping earlier in the year to $625,500. A online news article this morning on Hawaii Reporter with a statement from Senator Schatz, confirmed the rumours we started hearing over the weekend.

See the full blog post on the 2014 VA loan limit for Oahu increase here.

Oahu Real Estate Sales Activity – September 2015

September 2015 Oahu Real Estate Sales Activity

Below is the sales activity for the month of September 2015 compared to the same month last year. This covers resale homes for Honolulu County (Oahu) and does not include new construction homes.

Single Family Home sales volume and prices and showing increases from this time last year with the numbers bouncing up and down from month to month. Homes in the lower price ranges continue to see brisk sales. Many homes are still getting multiple offers. Low interest rates continue to allow buyers to qualify for higher priced homes than they would normally be able to buy and they are taking advantage of it while they can. With the new federal guidelines for lenders, we may see some temporary delays in getting escrows closed for the next couple of months.

Condos and townhouses are seeing similar patterns as single family homes in the sales volume and numbers of new listings. Although the prices have increased, but at a slower rate than the single family homes. In some areas and types of condos we are still seeing brisk activity, accompanied with price increases.

On Oahu, there is still an overall shortage of housing units. The number of new listings each month although still up from last year is not keeping up with the overall demand. Parts of the island like the planned communities are still seeing heavy competition for entry level homes.

In areas near military bases we saw a very strong summer due to a lot of military rotations. Surprisingly we are still seeing brisk activity in those areas.

Single Family Home Resales

Month # Sales Median Price Avg. Price
Sep 2015 329 $730,000 $866,732
Aug 2015 344 $699,000 $844,596
Sep 2014 318 $678,500 $865,924



Condos/ Townhouse Resales

Month # Sales Median Price Avg. Price
Sep 2015 480 $366,000 $427,659
Aug 2015 428 $354,000 $410,794
Sep 2014 415 $347,000 $421,721

 *Median price means half the prices were above and half below the given price. Data was taken from the Honolulu Board of REALTORS® MLS system. It is deemed to be accurate, but not guaranteed.

Press Release: eXp Realty Launches in Hawaii

eXp Realty Launches in Hawaii

BELLINGHAM, WA–(Marketwired – September 09, 2015) - eXp Realty International Corporation (OTCQB: EXPI) today announced that it has commenced real estate brokerage operations in the State of Hawaii. The launch marks the first time that the Agent-Owned Cloud Brokerage has extended its reach beyond mainland North America. Brokerage operations for eXp Realty in Hawaii will be overseen by Randy Prothero of Mililani.

“Throughout my career I have believed in adopting a progressive approach to the real estate business, where a premium is placed on professional ethics, professional development, and the utilization of systems and technologies to both build a thriving business and to provide an optimum consumer experience,” said Prothero, who has held numerous leadership positions with the Honolulu Board of Realtors. “With eXp Realty’s launch in Hawaii, I can now offer a model to professionals who share these ideals, and whose entrepreneurial abilities fit perfectly within eXp’s agent ownership philosophy.”

Prothero, who has received a number of awards during the course of his real estate career, is an experienced principal broker and team leader, and is a certified continuing education instructor. Active within his local community, Prothero has volunteered for and sponsored many youth activities.

“Our commencement of operations in Hawaii demonstrates our commitment to building a community of agent-owners collaborating across borders, whether drawn or natural, in furtherance of building their own personal businesses as well as the public company of which they are shareholders,” said eXp Realty President, Jason Gesing.

Contact information for Randy Prothero: randy.prothero@exprealty.com or (808) 384-5645.

About eXp Realty International Corporation

eXp Realty International Corporation is the holding company for a number of companies most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage™ as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. This effectively reduces agents’ overhead, increases their profits, and provides greater service value to consumers.

As a publicly-traded company, eXp Realty International Corporation uniquely offers agents and brokers the opportunity to earn equity awards for production and contributions to overall company growth. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals whom they attract into the Company.

From its inception, eXp Realty has been engaged in the marketing and sale of residential real estate with the goal of being the first truly cloud-based, full-service, global real estate brokerage company, delivering around-the-clock access to collaborative tools and professional development for managing real estate brokers and agents. The business model was created to increase brokers’ and agents’ listings and sales, while reducing their overhead and capital requirements. eXp Realty can now be found in approximately 31 states and parts of Canada. For more information, visit: www.exprealty.com or investors.exprealty.com.

You can also follow eXp Realty International on TwitterLinkedInFacebook, and YouTube channel.

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the Company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the Company’s expansion, revenue growth, operating results, financial performance and net income changes. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Annual Report on Form 10-K.

CONTACT INFORMATION

Investor Relations Contact Information:
Glenn Sanford
Chairman & CEO
glenn@exprealty.com
eXp Realty International Corporation
360-389-2426

Trade and Media Contact Information:
Jason Gesing
President
eXp Realty International Corporation
jason@exprealty.com
617-970-8518

Oahu Real Estate Sales Activity – July 2015

Oahu (Honolulu County) Real Estate Sales Statistics July 2015

Below is the sales activity for the month of July 2015 compared to the same month last year. This covers resale homes for Honolulu County (Oahu) and does not include new construction homes.

Single Family Home sales volume and prices and showing a slow steady increases from this time last year. Homes in the lower price ranges have seen brisk sales. Sales volume is up and prices of those homes are up. Many homes are getting multiple offers. The number of new listings have started to show some increases. Low interest rates continue to allow buyers to qualify for higher priced homes than they would normally be able to buy and they are taking advantage of it while they can. We are seeing more sellers entering the market as their home values have come up to appoint where they want to sell.

Condos and townhouses are seeing similar patterns as single family homes in the sales volume and numbers of new listings. Although the prices are somewhat flat. In some areas and types of condos we are still seeing brisk activity, accompanied with price increases.

On Oahu, there is still an overall shortage of housing units. The number of new listings each month although increasing is not keeping up with the overall demand. Parts of the island like the planned communities are still seeing heavy competition for entry level homes.

In areas near military bases we saw a strong summer due to a lot of military rotations. About half of the annual rotations happen during that period, when the children are out of school. Many civilian families also make their move during that same period, for the same reasons.

Single Family Home Resales

Month # Sales Median Price Avg. Price
July 2015 337 $710,000 $858,986
June 2015 324 $700,000 $858,986
July 2014 300 $683,500 $890,425

Condos/ Townhouse Resales

Month # Sales Median Price Avg. Price
July 2015 501 $350,500 $389,595
June 2015 500 $338,500 $380,493
July 2014 444 $351,750 $410,518

*Median price means half the prices were above and half below the given price. Data was taken from the Honolulu Board of REALTORS® MLS system. It is deemed to be accurate, but not guaranteed.

Oahu Real Estate Sales Activity – June 2015

Oahu real estate sales activity - June 2015

Below is the sales activity for the month of June 2015 compared to the same month last year. This covers resale homes for Honolulu County (Oahu) and does not include new construction homes.

Single Family Home sales volume and prices would appear to be leveling from the numbers below. They do not tell the complete story. Homes in the lower price ranges have seen brisk sales. Sales volume is up and prices of those homes are up. Many homes are getting multiple offers. Whiles sales volume is up from last year, the numbers of new listings are down, which will place even more pressure on prices. Higher priced homes are still selling, but at a slower rate, causing the median and average prices to be flat. Low interest rates continue to allow buyers to qualify for higher priced homes than they would normally be able to buy and they are taking advantage of it while they can.

Condos and townhouses are seeing similar patterns as single family homes. Sales volume is up versus the same time last year. New listing are not keeping up with the sales volume. Median and average prices are down, but we are seeing a similar pattern as single family homes. Lower price condos and townhouse are moving at a faster rate than the higher priced ones. Prices are climbing in most areas in lower to medium price ranges, but not as fast as single family homes.

On Oahu, there is still an overall shortage of housing units. The number of new listings each month is not enough to take the pressure off supply shortages. The numbers are a little misleading. Homes of the same type are increasing faster than the averages, but with many first time buyers entering the market the volume of lower priced homes is increased skewing the data a little. Parts of the island like the planned communities are seeing more competition for entry level homes.

In areas near military bases we are seeing increased activity due to a lot of military rotations. The summer months are PCS season. About half of the annual rotations happen during that period, when the children are out of school. Many civilian families make their move during that same period, for the same reasons.

Single Family Home Resales

Month # Sales Median Price Avg. Price
June 2015 324 $700,000 $858,986
June 2014 303 $700,000 $890,425

Condos/ Townhouse Resales

Month # Sales Median Price Avg. Price
June 2015 500 $338,500 $380,493
June 2014 411 $360,000 $442,484

*Median price means half the prices were above and half below the given price. Data was taken from the Honolulu Board of REALTORS® MLS system. It is deemed to be accurate, but not guaranteed.

2015 BAH Rates for Oahu see Large Increase!

The 2015 Military Basic Allowance (BAH) for Oahu (Honolulu County) have just been released. The Basic Allowance for Housing on Oahu saw a large increase for 2015. More than $300 a month in some ranks.

2015 Basic Housing Allowance (BAH) for Oahu (Honolulu County)

Buying a home while being stationed in the Military on Oahu is easier than you think.

Your VA benefit will give you a no down payment mortgage to buy a home. Your BAH will make the payments with tax free money. You then get a big tax benefit as a home owner that a renter never sees. Contact us today to get your started on your way to Home Ownership.

Contact Randy today at 808-384-5645 for more info about the 2015 BAH rates for Oahu or for any of your Oahu military real estate needs!

2014 BAH Rates for Oahu

The 2014 Military Basic Allowance (BAH) for Oahu (Honolulu County) have just been released.

2014 Military Basic Housing Allowance (BAH) for Hawaii

Contact Randy today for more info about the 2014 BAH rates for Oahu or for any of your Oahu military real estate needs!

Oahu Residential Real Estate Sales Activity for November 2013

Single Family Homes sales volume is steady after the seasonal summer surge. Low inventory levels are continuing to put pressure on the market. We are still seeing prices begin to climb again in many areas. The lower price ranges are the most competitive.

Condos and townhouses sales volume has been consistent. We saw a little dip with the government shutdown and some of the furloughs impactings buyers. Now that they are behind us things have gotten steady again. -

See the complete Oahu sales activity report for November 2013 on Randy’s ActiveRain blog.