Getting Hawaii's best teachers and principals to work at the state's lowest-performing schools is a key element of the Race to the Top national contest, designed to lift student achievement. Nearly $19 million in federal funds, a quarter of the $75 million Hawaii won, will go toward turning around the lowest-achieving schools. The plan includes pay incentives to attract top educators, professional development to enhance teaching, and more learning time for students, including summer school.
As required by the federal government, Hawaii's Department of Education identified the six lowest-performing schools in the state, known as "priority schools." Four are on the Leeward Coast -- Nanakuli High & Intermediate, Maili Elementary, Kamaile Academy Public Charter School and Waianae Elementary -- and one, Naalehu Elementary, is on the Big Island. The sixth is the Hawaii School for the Deaf and Blind. But rather than focusing just on those six campuses, the department decided to broaden its targeted efforts to include the surrounding feeder schools in each area. It proposed creating two "zones of school innovation," one encompassing the Waianae and Nanakuli school complexes on the Leeward Coast, and the other, the Kau-Keeau-Pahoa complex on the Big Island. "We recognize these schools are not in isolation; they are part of a geographic area with very similar characteristics and challenges," said Robert Campbell, executive assistant for strategic reform for the Department of Education.
Read more about how the DOE will implement the plan's initiatives at StarAdvertiser.com. Kathleen Romero, principal of Keonepoko Elementary on Hawaii, said, "It's not just for struggling schools, although we're a priority. I just think it's going to help the whole state move forward."
The 3 schools in Hawaii Kai are public schools. With all the budgetary cuts and year of trying to provide services at a reduced level, teachers and administrators are very pleased with the award and possibility of a positive approach in our public education system. The money will create new programs, not be applied to existing ones.
Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com
www.activerain.com/blogs/abeb
http://barbarashawaii.blogspot.com/
With housing recovering slowly, most economists predicted in a recent survey that it will take at least five years for average home prices to climb back to the levels they commanded in 2006.
This year, some hard-hit areas may see another dip, but properties values will most likely rise."Softness in the summer months will be followed by firming conditions and momentum as the year unfolds and the economy strengthens," says Robert Denk, an economist for the National Association of Home Builders.Source: Reuters News (08/12/2010)
Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.comwww.movetohawaiikai.comwww.barbarashawaii.com
A recent article in the StarAdvertiser explained why the foreclosure problem is hurting Hawaii condos even more than single family housing. There are 2 main reasons. When an owner stops paying the association fees, this hurts all owners in the project, and may force the complex to raise fees. Also, when units sell for low prices - some even for $1 at auction - it lowers the values of all the homes in the complex.
The foreclosure crisis is especially worrisome here, because Hawaii has the highest concentration of homes in condo and community associations of any state in the country. Roughly 30% of Hawaii's housing stock is in such associations, according to state and federal data.
While no one compiles reliable condo foreclosure statistics, anecdotal evidence suggests the problem is widespread, affecting low-end and upscale properties, especially those with a high percentage of investor-owners. Adding to the growing foreclosure problem are financially strapped condo owners who have mounting delinquent maintenance fees but are not yet in foreclosure.
Attorneys and property managers who represent condo associations say most projects are struggling to find ways to offset foreclosure-related budget shortfalls, deferring maintenance, raiding reserve accounts or increasing monthly fees, essentially making the paying homeowners pay more.
Some projects have raised fees by double-digit percentages or are planning to do so in the next budget cycle. When fees are increased, more homeowners tend to fall behind because of the higher payments, putting additional pressure on condo boards to raise fees again. That can trigger a snowball effect.
The problem is statewide, and by no means worse in our Hawaii Kai associations. But, because of the age of many of our buildings, the crisis is worse than for newer complexes. Many projects, built in the late 1960s or 1970s, are at an age when major renovations, such as costly structural repairs, are needed. Yet just when the money is needed to do the work, more homeowners are not able to pay their bills.
Condo associations in Hawaii were given the authority in the late 1990s to use the nonjudicial process, which occurs without court oversight. But they didn't start aggressively using it until the last few years. While some nonjudicial cases can be completed within 90 days, others last months, with each delay adding to the delinquency tab, according to condo groups. Some cases aren't resolved for a year or two.
When condo groups foreclose on units that are "under water," no one other than the association typically bids at the auction because of the negative equity of the homes. In a nonjudicial process, the association usually bids $1 to get ownership and, after making repairs, rents the foreclosed condo to a short-term tenant. Until the lender initiates its own foreclosure action to take back the home, the association is able to generate revenue from a property that otherwise would be a financial drain.
But if encough units in a project sell for $1, obviously values in that complex will be adversely affected. Call or email me if you are considering purchasing a condo in Hawaii Kai, and I'll discuss with you the strength of the association and the number of owner-occupied homes. I've been selling real estate here for more than 20 years, and know many of the managers personally. Hawaii Kai condos are still a great buy, but we need to carefully study the financial documents during your decision process.
Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com
The outdoor kitchen is rapidly becoming the social hub of the home, and is a trend especially popular in areas where the climate favors outdoor living almost year-round - what better place than Hawaii Kai! The outdoor kitchen is now more than a grill and a sink in the corner; it is an entertainment center, complete with storage, TV, seating, fire pits and water features .
Outdoor kitchens are popular because they are fun to live with, said Russ Faulk, vice-president of product development at Kalamazoo Outdoor Gourmet in Kalamazoo, Mich. “They add to the quality of life for the homeowner. Preparing a meal outdoors is not a chore, it’s an occasion, a reason to have friends over and enjoy the process.” In addition, an outdoor kitchen expands a home’s living space and adds to its value, he said. “The return on your investment is comparable to an indoor kitchen redo.”
Pizza ovens are becoming a trend within a trend, and offer an alternative to a grill, be it gas or wood or charcoal. Oven designs range from large, wood-fired brick and clay ovens that take several hours to heat up, to compact countertop models fired by gas that are ready for baking pizzas in 20. Other additions gaining in popularity as the outdoor kitchen becomes a "room" are keg-tappers, wine chillers, ice makers, and warming cabinets.
Faulk offers some cost-cutting tips:
1. Look for low-maintenance equipment
2. Make sure the cabinets will keep the contents clean and dry - this is especially important in Hawaii's climate
3. Install good lighting (tiki lamps?)
4. Install stain- and grease-resistant counter tops
5. Design the kitchen against the house so you reduce the length of wires, saving costs in bringing utilities outside
6. Do your planning. How will the space be used? For most of your meals or the weekend BBQ?
Outdoor kitchens are a great addition to Hawaii Kai homes and will add to your resale value due to their increasing popularity. Call or email me with your questions on the comparative market value of your Hawaii Kai home.
Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com
www.activerain.com/blogs/abeb
http://barbarashawaii.blogspot.com/
A report on NewsGeni.us was not encouraging for the real estate industry. While prices are up from last year, there is no clear trend toward a solid recover. Here are some excerpts from the article.
"In the latest sign of renewed turbulence in the housing market, an industry group said Thursday that sales of existing homes fell 5.1% in June. The National Association of Realtors reported that existing home sales fell last month to a seasonally adjusted annual rate of 5.37 million units, down from 5.66 million in May. Sales year-over-year were up 9.8%.
"'The housing industry is slogging through a swamp looking for solid ground," said Mitchell Hochberg, a principal at Madden Real Estate Ventures. "With mounting foreclosures, growing consumer pessimism and a rise in inventory, the only path to recovery is an increase in employment.'
"Analysts expect the housing market to deteriorate as the credit expires and unemployment remains high. Meanwhile, the inventory of homes on the market rose 2.5% in June to 3.99 million units. At that level, it would take 8.9 months to sell all the existing homes on the market, compared with 8.3 months of inventory in May.
"'The supply of homes on the market is higher than we'd like to see,' said NAR chief economist Lawrence Yun, adding that home prices have held up well despite the glut.
"The national median existing-home price for all housing types was $183,700 in June, up 1% from a year ago, according to NAR."
This may sound pretty gloomy, but remember rates are at historic lows and prices in Hawaii Kai are way down from a few years ago. There are great bargains waiting in our beautiful part of Oahu. Call or email me for some ideas.
Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com
http://activerain.com/blogs/abeb
Building and modifying homes to accommodate multiple generations is increasingly popular as more Americans struggle to accommodate both their older parents and their grown children under the same roof.
The National Association of Home Builders’ International Builders Show this year featured a single-level residence with a master suite at each end.
"The grandparents' suite included universal design elements along with a small kitchenette," says Stephen Melman, director of economic services at the NAHB. "The concept for this home was that the parents could get help with their kids from the grandparents, while the grandparents benefited by having household maintenance chores and meals taken care of for them.”
Melman said that it is difficult to predict whether this trend will diminish when the economy improves, but he pointed to the growing number of ethnic groups where multi-generational living is expected as a sign that the trend may stick.
Source: Washington Times, Michele Lerner (07/09/2010)
If you need multi-family housing, call or email and I'll help you find a home. Don't miss the low rates and real estate prices in Hawaii Kai.
Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.barbarashawaii.com
www.movetohawaiikai.com
http://barbarashawaii.blogspot.com/
The numbers for year-to-date sales and June closings in Hawaii Kai were both positive. Here are the details:
Single Family June
Sales 2009 - 15, 2010 - 17
Median Sales Price 2009 - $750,000, 2010 - $840,000
Average Sales Price 2009 - $924,667, 2010 - $837,706
Days on Market 2009 - 29, 2010 - 36
Inventory at Month End 2009 - 125, 2010 - 93
Single Family Year-to-Date
Sales 2009 - 171, 2010 - 177
Median Sales Price 2009 - $750,000, 2010 - $812,500
Average Sales Price 2009 - $931,994, 2010 - $1,005,195
Days on Market 2009 - 56, 2010 - 23
Condos
Sales 2009 - 17, 2010 - 22
Median Sales Price 2009 - $449,000, 2010 - $528,000
Average Sales Price 2009 - $483,465, 2010 - $536,964
Days on Market 2009 - 88, 2010 - 14
Inventory at Month End 2009 - 75, 2010 - 44
Condos Year-to-Date
Sales 2009 - 143, 2010 - 150
Median Sales Price 2009 - $475,000, 2010 - $515,000
Average Sales Price 2009 - $481,884, 2010 - $526,113
Days on Market 2009 - 78, 2010 - 18
The Hawaii Kai real estate market news is good for both buyers and sellers. For buyers, rates are at historic lows, and inventory is still high. For sellers, prices have started a recovery and buyers are looking.
For Oahu numbers, visit my Active Rain blog. And, of course, contact me for real estate sales details on any community in Hawaii Kai.
Barbara Abe
808-226-2537
barbara@barbarashawaii.com
www.barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.blogspot.com
http://activerain.com/blogs/abeb
The Makeke o Maunalua Farmers' Market has a new name, but its mission remains to serve as the weekly community social for East Oahu residents to support local farmers. Opened a month ago in the parking lot of Kaiser High, it is now called the Hawaii Kai Farmers Market and has a definite community focus.
In addition to fruits and vegetables, the market features massage tables, live musical performances, cooking classes, arts and crafts in a Keiki Korner and a cafe area for patrons to dine. Nearly half of the 31 business owners at the market are Hawaii Kai residents, and the operators of the market hope to increase that number.
Everything at the market is made or grown in the islands, from the sea asparagus from Kahuku to the fresh meats from Maui.
To help the community, vendors donate $5 of their sales to Kaiser High School's International Baccalaureate Diploma Program. It is one of four schools in the state that are certified with the nationally recognized college-prep program. Hours are 9-1 on Saturdays.
Come join us in Hawaii Kai!
Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.barbarashawaii.com
www.movetohawaiikai.com
According to the National Association of Realtors , existing-home sales remained at elevated levels in May on buyer response to the tax credit, characterized by stabilizing home prices and historically low mortgage interest rates. Gains in the West and South were offset by a decline in the Northeast; the Midwest was steady.
Lawrence Yun, NAR chief economist, said he expects one more month of elevated home sales. "We are witnessing the ongoing effects of the home buyer tax credit, which we'll also see in June real estate closings."
Other statistics of note - another NAR survey showed first-time buyers purchased 46% of homes in May, down from 49% in April. Investors accounted for 14% of transactions in May compared with 15% in April; the remaining sales were to repeat buyers. All-cash sales were at 25% in May, down from a 26% share in April.
Existing-home sales in the West rose 4.9 percent to an annual rate of 1.29 million in May and are 15.2 percent higher than May 2009. The median price in the West was $221,300, up 7.4 percent from a year ago.
For details on our Hawaii Kai real estate market, email or call for sales information on any Hawaii Kai community.
Barbara Abe
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com
www.relocatehawaii.com
According to detailed information about the characteristics of new homes completed in 2009 that was released recently by the Census Bureau, the size of new single-family homes completed declined last year, dropping to a nationwide average of 2,438 square feet.
After increasing continually for nearly three decades, the average size of single-family homes completed in the United States peaked at 2,521 square feet in 2007. It was essentially flat in 2008, then dropped in 2009, so that new single-family homes were almost 100 square feet smaller in 2009 than in 2007.
New homes also had fewer bedrooms and baths. After increasing for almost 20 years, the proportion of single-family homes with four bedrooms or more topped out at 39% in 2005; it was 34% last year. The proportion of single-family homes with three bedrooms increased from 49% to 53% between 2005 and 2009.
The proportion of homes with three or more bathrooms was 24% last year, a decline from the peak of 28% in both 2007 and 2008. The percentage of single-family homes with two bathrooms increased from 35 to 37 last year, and the percentage with 2½ bathrooms was at 31% for the third consecutive year. The proportion of single-family homes with 1 or 1½ bathrooms has been below 10% for more than a decade.
“We also saw a decline in the size of new homes when the economy lapsed into recession in the early 1980s,” said NAHB Chief Economist David Crowe. “The decline of the early 1980s turned out to be temporary, but this time the decline is related to phenomena such as an increased share of first-time home buyers, a desire to keep energy costs down, smaller amounts of equity in existing homes to roll into the next home, tighter credit standards and less focus on the investment component of buying a home. Many of these tendencies are likely to persist and continue affecting the new home market for an extended period.”
Energy efficiency is more a factor now as well. The proportion of one-story homes declined steadily for more than three decades, since the 1st year of the study in 1973, dropping to a low of 43% in 2006 and 2007. At the same time, the proportion of single-family homes with two or more stories increased, rose from 23% in 1973 to a high of 57% in 2006 (split level homes currently account for less than one percent of all single-family homes). Since 2006, the trends have been reversed, as the share of single-family homes with one-story increased to 47% last year, while the share with two or more stories dropped to 53%.
Because we live on an island, unlimited space for housing has never been an issue, but we do have our enclaves of large homes. Call me to discuss your needs for housing in Hawaii Kai, or any Oahu communities. We'll find a home to suit your needs.
Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com
www.relocatehawaiikai.com
(resource: RealEstateChannel.com)
Of 372 cities tracked by the US Bureau of Labor Statistics, Honolulu continues to have good numbers. The seasonally not-adjusted rate of 5.2% for Honolulu tied it with Billings, MT, as the 14th lowest, according to figures released by the agency.
Bismark, N.D., had the distinction of having the lowest level of joblessness of the cities at 3.6%. El Centro, Calif., had a rate of 27.9%, the highest in the survey.
Not to say 5.2% is good, but the news is a positive indicator of Hawaii's economic strength.
Barbara Abe
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com
May, 2010 showed a positive trend in real estate for both Hawaii Kai and East Oahu.
Single family homes, Hawaii Kai Closed sales - 15, up from 13 last year
Median sales price - $885,000, up from $750,000 last year
Average sales price - $1,583,233, up from $845,123 last year
% of original list price received at sale - 93.4%, up from 89.2% last year
Median days on market - 27, down from 113 last year
Inventory of homes for sale at month end - 84, down from 133 last year
Condos, Hawaii Kai Closed sales - 18, up from 13 last year
Median sales price - $467,000, down from $489,000 last year
Average sales price - $497,494, down from $502,423 last year
% of original list price received at sale - 97.6%, up from 93.3% last year
Median days on market - 15, down from 69 last year
Inventory of homes for sale at month end - 41, down from 87 last year
Single family homes, May, Oahu
Closed sales - 284 for 2010, 216 in 2009, 246 in 2008
Median sales price - $606,000 for 2010, $542,000 in 2009, $644,000 in 2008
Average sales price - $730,036 for 2010, $623,360 in 2009, $780,089 in 2008
Days on market - 27 for 2010, 47 in 2009, 52 in 2008
% of original list price realized at sale - 96.3% for 2010, 93.0% in 2009, 93.9% in 2008
Inventory of available homes as of month-end - 1,520 for 2010, 2,061 in 2009, 2,389 in 2008
Months of inventory - 6.1 for 2010, 10.0 in 2009, 8.7 in 2008
Condos, May, Oahu Closed sales - 355 for 2010, 262 in 2009, 367 in 2008
Median sales price - $312,500 for 2010, $300,000 in 2009, $338,000 in 2008
Average sales price - $373,224 for 2010, $352,827 in 2009, $415,247 in 2008
Days on market - 28 for 2010, 52 in 2009, 42 in 2008
% of original list price realized at sale - 95.5% for 2010, 91.1% in 2009, 94.9% in 2008
Inventory of available homes as of month-end - 1,901 for 2010, 2,711 in 2009, 2,979 in 2008
Months of inventory - 5.6 for 2010, 9.7 in 2009, 7.2 in 2008
While prices haven't recovered, the change in inventory vs sales and vs days on market is dramatic. There are fewer properties on the market, both in Hawaii Kai and Oahu, so inventory is down, and this is reflected in the shorter days on market and increased # of sales.
Our Honolulu Board of Realtors also publishes these figures by price ranges. You can see those
real estate statistics for Hawaii Kai on my web site. If you would like a breakdown island-wide for Oahu, just let me know.
Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com http://www.movetohawaiikai.com/ http://www.barbarashawaii.com/
18 condos sold in Hawaii Kai in May, ranging in price from $361,000 for a 1 bedroom on the 6th floor of the Mauna Luan, to $735,000 for a 3 bedroom/2.5 bath waterfront home in Kuapa Isle.
16 single family homes sold in May, with a low of $530,000 for a 3 bedroom/1.5 bath home in Koko Head Terrace, to $7,800,000 for a stunning custom home in Koko Kai.
Numbers of listings and sales declined somewhat from April, which was expected because of the end of the 1st Time Buyer Tax Credit.
Rates continue to be very low, and prices haven't even begun to recover, so now is the time to look for homes in Hawaii Kai.
Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com
You've probably seen on my Hawaii Kai Local Events page the solar open houses recently held in Hawaii Kai. Solar has a strong foothold here, and obviously Hawaii has the resource to make it a big industry. I've wondered for years why every house didn't have a solar hot water heater, but I guess the time is finally coming.
More than 1,500 jobs were added to the Hawai'i economy last year as the solar energy industry expanded, according to the industry group, Solar Energy Industries Assn. These were part of the 17,000 jobs created in the solar industry in 2010 nationally.
Hawaii is working its way to the forefront of the green revolution, not just with solar, but the grid for electric cars, the car manufacturers who will launch in Hawaii, research into wind power, and more.
Contact me to learn how you can live in Hawaii Kai and get in on the ground floor of an exciting time in Hawaii.
Barbara Abe, Realtor
808-226-2537
www.movetohawaiikai.com
www.barbarashawaii.com
barbara@barbarashawaii.com
During weekends in May, all nationwide Costcos will be raising money for the Children's Miracle Network, to assist local hospitals with essential equipment.
The Hawaii Kai Costco is attracting donations with music and food events contributed by area restaurants. The money raised will go to the Kapiolani Medical Center for women and children. "This year the money's going to purchase Giraffe incubators for the prenatal unit," said Vince Hill of the Hawaii Kai Costco. "Our goal is $100,000, and right now, we're not quite there. We hope to get as close as we can because this is a tough year."
The Hawaii Kai location will have another food festival to raise money May 30.
Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
www.movetohawaiikai.com
www.barbarashawaii.com