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MAP OF HAWAIIAN ISLANDS
Archive for July, 2008
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Jul
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REAL ESTATE REMAINS A STABLE INVESTMENT IN OAHU
Oahu home prices retain high median
Last year’s record holds despite declining sales on pace for 10-year low
By Andrew Gomes
Advertiser Staff Writer
For nearly four years, sales of O’ahu single-family homes have been declining, yet the median home price stays stubbornly high.Sales are on pace to set a 10-year low this year, but prices are hovering just a bit under last year’s record.
The relative price stability is baffling many consumers and a few real estate agents who have been anticipating a moderate price decline, or worse.
But local economists and traditionally optimistic real estate agents say they aren’t surprised by the resiliency in O’ahu home prices that contrast with many Mainland housing markets, where median prices are down 10 percent to 30 percent after big price run-ups in recent years.
“I think the other shoe has yet to drop … but it’s unlikely to be fairly severe,” said Byron Gangnes, a University of Hawai’i economics professor.
Mike Sklarz, a local economist and housing market statistician, said O’ahu home prices are following a historical pattern of flattening after a steep increase. “It’s more like a staircase pattern — up and then sideways,” he said.
Sklarz and other economists said several factors — including population growth, low unemployment, stable personal income, attractive interest rates and relatively low foreclosures — have helped maintain home prices despite the relatively big sales slowdown.
Out of 1,413 previously owned single-family homes sold on O’ahu in the first six months of this year, the median price was $629,000, down 2.5 percent from $645,000 in the same period last year, according to Honolulu Board of Realtors data.
The slight settling follows a near-doubling of the median sale price from $299,900 in 2001 to $590,000 in 2005. Last year, the median was a record $643,500.
While prices are essentially flat, sales are down 26 percent this year through June. That pace, if carried through the full year, would result in about 2,700 sales, or the lowest level since 2,500 sales in 1998.
The sales drop also is on top of three years of declines between 2 percent and 13 percent since the 2004 peak of 4,702 sales.
large submarkets
Overall, O’ahu’s median home price this year has been roughly balanced out by a few large submarkets — urban Honolulu, Pearl City-’Aiea and Wai’alae-Kahala — where median prices are up 5 percent to 8 percent, and the island’s biggest housing submarket — the ‘Ewa Plain — where the median price is down 9 percent.
By comparison, some Mainland housing markets are experiencing double-digit median price declines, including cities in California, Arizona, Nevada and Florida. According to the latest available data from the National Association of Realtors, the median home price average for about 150 major metropolitan areas was down 7.7 percent in the first quarter.
In many Mainland cities, median prices have tanked in part because so many borrowers obtained risky loans that have led to stunning rates of foreclosure. Developers also oversaturated markets with new homes that hurt median prices after sales fell sharply.
On O’ahu, lenders say borrowers were more conservative with the loans they took out. Developers also are constrained from wild overbuilding because of limited land and development regulations.
The constraints on new-home construction naturally helps keep supply relatively tight, which can lead to soaring prices when demand is extremely high and only mild price declines when demand is weak.
During O’ahu’s previous housing market downturn, which stretched from 1991 to 1999, median prices declined 18 percent, or 1.8 percent per year on average.
During the nine-year slump, the biggest decline in sales was a 30 percent drop in 1991, and the median price declined 3.4 percent that year. In 1995, sales fell 25 percent and the median price declined 3.1 percent. The biggest single-year price drop was 8.4 percent in 1997 as sales were rebounding.
“Prices remained pretty stable throughout that period,” Gangnes said. “We’ve typically not had big price declines on O’ahu.”
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Jul
26
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2008 FARWEST REGIONALS
AS I MENTION IN MY BIO, I HAVE BEEN A SOCCER MOM FOR OVER 15 YEARS. MY DAUGHTER HAS PLAYED AT ALL LEVELS, WE HAVE CRISS-CROSSED THE PACIFIC NORTHWEST AND THE MAINLAND PLAYING GAMES, TOURNAMENTS AND COLLEGE SHOWCASES. BELOW IS INFORMATION ON THE FARWEST REGIONALS CURRENTLY BEING PLAYED IN HAWAII. MY DAUGHTER’S TEAM WAS HERE TWO YEARS AGO AND NOW SHE IS OFF TO PLAY FOR HER UNIVERSITY. ALL I CAN SAY IS: “WHAT AN AMAZING RIDE!!”
Below, you will find a link to view the boy’s and girl’s age groups, team scores and standings. You can view them, also, at:
www.honoluluadvertiser.com/apps/pbcs.dll/ssection?Category=SPORTS9001
GOOD LUCK TO ALL THE PLAYERS!
Kevin Portillo, left, of the Valley United Blast gets tangled up with Andre Lara, of Arsenal FC, in the under-15 final. The Blast won, 4-0.
Photos by DEBORAH BOOKER | The Honolulu Advertiser
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Jul
26
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Hawaii shows it can compete with best
California-South dominates with 10 titles in 16 divisions
By Leila Wai
Advertiser Staff Writer
The U.S. Youth Soccer Far West Regional tournament concluded at Waipi’o Peninsula Soccer Park yesterday without any teams from Hawai’i playing.
Still, coaches and players were happy with their performances and the way they personified what Hawai’i soccer is about.
“We’re really happy we could represent Hawai’i,” said Michele Nagamine, coach of several Leahi Soccer club teams. “To get three (Leahi) teams into the semifinals … to have done that was pretty amazing.
“Hawai’i soccer has come a long way. I’m proud of the effort all the teams gave.”
Eight of the 24 Hawai’i teams advanced out of the preliminary, pool-play stage.
Of those eight, five made it to Saturday’s semifinals, only to see their tournaments end.
“There was one year a while ago where we had six (in the semifinals), but that was a while ago,” Hawai’i Youth Soccer Association president Scott Keopuhiwa said. “Unfortunately no one got through, which was kind of disappointing, but we ran up against tough teams.
“We’re proud of all of our teams that made it to the semifinals. None of our teams got smashed either; they were all close games. Our teams are right there with some of the best in the country. That’s good for Hawai’i soccer.”
Twelve teams — boys and girls in divisions from under-14 through under-19 — from the Far West will play in the U.S. Youth Soccer National Championships in North Little Rock, Ark., from July 22 to 27, joining teams from the East, Midwest and South. Under-12 and under-13 divisions are not included in the national championships.
“It’s been fabulous,” Region IV Cup chairman Tom Mendoth said. “The weather has been great, the tournament has run smoothly and on time, and there’s been no complaints from a single coach on playing conditions.
“The local soccer association came up with plenty of volunteers to make these kids and parents feel at home. It’s been a super week. We’ll be back here someday.”
Abunai 95 boys coach Darrin Goo said it was “a good measuring stick for us to see where we’re at and to see what areas we can improve in.”
The Abunai 95 boys, in the under-13 division, went 1-1-1 in pool play and didn’t advance, but Goo said he felt the team was in every game.
Abunai 95 tied Crossfire Premier 94-Jenkins of Washington, which has “a hundred kids come out for the their tryouts. We had one,” Goo said.
Their loss, to the Colorado Rush, included two Abunai defensive errors and three shots that hit the crossbar.
“From a coach’s standpoint, overall the team played well and I’m happy we’re able to compete with Mainland teams,” Goo said. “We’re right there with them.”
Keopuhiwa said the tournament is changing with the addition of two automatic berths awarded to the winners of the Far West Regionals League spring and fall champions.
“Because they get automatic berths in the tournament now and the Far West Regionals League is dominated by Cal-South teams it ends up being possibly three Cal-South in semifinals as opposed to one or maybe two with a wild card entry,” he said. “It makes it tougher for other states to break through.”
Cal-South teams captured 10 of the 16 titles yesterday.
“I think the Hawai’i teams in our age group played really well,” said Colin Lund, one of three Hawai’i players guest playing on the Colorado Rush, which went through two Hawai’i teams (the HSC Bulls 89B and Real Hawai’i 89B) to get to the championship game. Colorado lost to Arizona, 3-2, yesterday in the under-19 boys finals.
“It was a good experience playing in Regionals; it was a higher level of competition,” said Lund, who was joined by Kody Adams and Josiah Motosue on the Colorado team.
Reach Leila Wai at lwai@honoluluadvertiser.com.
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Jul
24
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INTERESTING INFORMATION
Sun, Sand and Splash Spell Summer Fun in Hawaii!
Sun, Sand and Splash Spell Summer Fun in Hawaii!category:Sports and Recreation posted:July 7th, 2008 Nothing says “summer” like spending time by the water. Sure, you could just flop on a towel and leave it at that…but why not make the most of your day in the Hawaii sun?
FUN, FUN, FUN….
Collecting shells, kite flying and building sandcastles are tried-and-true pastimes. Here are some other fun water options. NOTE: ALWAYS REMEMBER TO OBEY ANY SAFETY RULES OF YOUR BEACH, LAKE OR POOL.
Squirtball: Split up into two teams and give everyone a large watergun. Draw goal lines in the sand behind each team and put a beach ball in the center. Each team tries to squirt the ball over the other team’s goal line, without using hands or feet!
Wave Races: Line up in the ocean with floats; catch a wave – first one to hit the beach wins!
Pair Up Pool Game: Get players to partner up. Players try and swim in pairs with one half doing the arm movements while the other half holds onto their partner and does the leg movement. Best tried in the shallow end.
FOOD SAFETY: When it comes to a picnic, make sure you’re not serving up a future tummy ache. Take along only the amount of food that can be eaten to avoid having leftovers. A full cooler will maintain its cold temperature longer than one that’s partially filled. If you’re dining beach or lakeside, bury the cooler in the sand partway once you arrive, and with blankets and shade it with a umbrella. And remember to open it as little as possible.
BASIC WATER SAFETY: Yeah, yeah, we all know the rules about wearing sunscreen (put it on before you leave the house; reapply frequently and stick to the shade between 10 am and 2 pm when the sun’s rays are strongest). But don’t forget these tips, whether you’re bodysurfing at the beach or just splashing in the shallow end of the local lake or pool:
* Never swim alone. Always swim near a manned lifeguard station.
* At the beach or lake, steer clear from piers, pilings, and rocks. Inexperienced swimmers should stick to waist deep water.
* Never dive into shallow breaking waves or the shallow end of a pool.
* At the ocean, beware of rip currents. If you get caught in one, don’t panic. Just swim parallel to the shore until you’re clear, then swim into shore. Never try to swim against the current.
Want to go swimming in Hawaii? Our complete list of Hawaii beaches, lakes, ponds and pools will help you find a spot in your local area.
