WHY LIVE IN HONOLULU?
WHY LIVE IN HONOLULU?
If you live in Hawaii, Honolulu is where the action is.
The urban core of Oahu, which includes downtown Honolulu, Chinatown, Kakaako, Moilili, Manoa, Kaimuki, Waikiki, Kahala and even Diamond Head, could all be considered part of Honolulu — or as the locals call it, "town". Real estate in all of Honolulu is at a premium, at the very least, and homes for sale are snapped up quickly because of the desirability of the area.
Honolulu has been a destination for visitors from around the world for more than 100 years, giving it a cosmopolitan flavor and the city is Hawaii's cultural, business and commerce center. There's always something to see when walking around Honolulu, and there's never a loss of something to do, no matter what time of the day — or night — it is.
Constantly growing and expanding, tower cranes frequent Honolulu’s skyline giving rise to artistic residences and bringing new life to the city. The convenience of city living allows you to walk, take a quick bike ride or hop on a short bus ride to work, to the beach or to world-class shopping and dining, there is no better place to live than Honolulu.
Past and Present
Want to know where you can find the only palace on American soil? That would be Iolani Palace, the residence of the monarchs of Hawaii until 1893. It also had electricity and telephone service before the White House. Kamehameha III was the first of the Hawaiian kings and queens to live in the palace in 1845 and Queen Liliʻuokalani the last in 1893. You've probably seen Iolani palace in the original and current Hawaii Five-O.
Not too far away from Iolani Palace is the Hawaii State Capitol, built in 1969, 10 years after statehood. Unlike many other state capitol buildings, the architects who designed the capitol incorporated elements of the state into the structure, such as the reflecting pool representing the Pacific Ocean and the conical design of the legislative chambers echoing the state's volcanoes.
Downtown Honolulu, the business center of Hawaii, is a short walk away from the capitol. Bishop Street is the heart of this area, and the agricultural companies that dominated the economy in Hawaii were headquartered in the area. Honolulu is now recognized as the financial hub of the Pacific and the headquarters for First Hawaiian Bank — a 429-foot tower — is a landmark in the crowded downtown Honolulu skyline. Commercial real estate is at a premium here.
Not too far from downtown is Kakaako. A few decades ago it was an industrial area known mostly for its auto body shops and low-rise offices. Now it's the center of the current boom in residential property, with beautiful condo towers replacing the old businesses. Many listings for homes for sale can be found in this area, and for many, it's a desirable piece of real estate.
Ala Moana is the state's most recognizable shopping destination, with high-end retailers that rival Rodeo Drive. Ala Moana is also across the street from Ala Moana Beach Park, a popular beach with tourists and locals, and sits at one end of Waikiki.
Expect low inventory and high demand with median sale price for Kakaako condos at $660,000, Waikiki condos at $395,000. and single family home in Diamond Head at $1,260,000.
*median sales price sourced from HBR Kakaako, Waikiki and Diamond Head median sales price average between January 2018 and January 2019