EVENTS ACROSS OAHU: Friday May 5th, Saturday May 6th, & Sunday May 7th, 2023

Get ready for an exciting weekend on the island of Oahu with these amazing events happening from May 5th - May 7th, 2023. On Friday, May 5th, Giving Hope Hawaii is hosting their inaugural Charity Golf Tournament, a great way to support a good cause while enjoying a fun day out on the greens. The Pineapple Festival, happening on May 6th, celebrates the history and culture of Hawaii's iconic fruit with delicious food, live music, and pineapple-inspired drinks. For a more nature-inspired event, check out the Manu O Ku Festival, also on May 6th, where you can learn about the native bird species of Hawaii and participate in fun educational activities. Lei Day Aloha, on May 7th, is a free community event featuring lei-making workshops, hula performances, and live music at Salt at Kaka'ako. If you're looking for an evening event, Irasshai Eat Drink Kanpai on May 7th at the Japanese Cultural Center of Hawaii will feature delicious food, drinks, and entertainment. With a variety of events happening throughout the weekend, including concerts, farmer's markets, and more, there's something for everyone to enjoy on Oahu.

• 9:00 AM Giving HOPE Hawaii Inaugural Charity Golf Tournament
• 5:00 PM Live Music at The LookOut - Wai Kai
• 7:00 PM Bloom: A Floral Fête | Honolulu Museum of Art’s Doris Duke Theatre

• 9:00 AM Wahiawā Pineapple Festival
• 9:00 AM National Nurse's Day at Waimea
• 10:00 AM Manu O Kū Festival at ‘Iolani Palace
• 10:00 AM Lei Day Aloha Celebration - SALT at Our Kaka'ako
• 5:30 PM Japanese Cultural Center of Hawaiʻi - Irasshai: Eat, Drink, Kanpai!
• 6:00 PM "L‘ulu" Leeward Culinary Arts Gala
• 6:30 PM May Moon Walk at Waimea Valley
• 7:00 PM Bloom: A Floral Fête | Honolulu Museum of Art’s Doris Duke Theatre
• 7:30 PM Béla Bartók Concerto for Orchestra at the Hawai'i Theatre

• 8:00 AM Kailua Town Farmer's Market
• 8:30 AM 'Iolani Palace Kamaʻāina Sunday
• 9:00 AM Lōkahi Kailua Market
• 4:00 PM Béla Bartók Concerto for Orchestra at the Hawai'i Theatre
• 4:30 PM Lucky 7–A Grateful Dead Tribute Concert

April Showers Over The H-3

The adage "April showers bring May flowers" rings very true for the Windward side over the last few days, as we have received a substantial amount of rainfall. 

Today's client appointments brought us across the H-3 Freeway, where the heavy rain resulted in multiple stunning waterfalls cascading hundreds of feet along the Ko'olau Mountain Range!

Rain or shine, the H-3 remains a favorite drive for us. The panoramic views of Kane'ohe Bay, paired with the remarkable vantage point of the Ko'olaus provide a breathtaking experience that never fails to inspire.

O'AHU EVENTS AND LIFESTYLE

Team Maxey's Top Weekend Picks

• 5:00 PM History Theatre: Hawaii in 1823
• 5:00 PM Taste of Miliani: Food Trucks | Local Snacks | Retail Therapy
• 6:00 PM Pā‘ina Pō‘alima at the Hawaii State Art Museum

• 10:00 AM Foodie Con & Spring Expo 2023 at the Niel Blaisdell Exhibition Hall
• 11:30 AM Keiki Community Fair at ʻAʻala Park
• 4:00 PM Pihi a Piha 2023 - A backyard pāʻina to benefit Paepae o He'eia (Heʻeia Fishpond)
• 4:00 PM 2023 Waikīkī SPAM JAM®
• 5:00 PM Hawaii Bacon & Beer Fest at the Brand New Wai Kai in Ewa Beach
• 5:30 PM Avant Garden at The Honolulu Museum of Art
• 7:30 PM HapaSymphony Featuring Raiatea Helm at the Historic Hawaii Theatre
• 9:00 PM Bonobo DJ Set at The Republik

• 8:00 AM Kailua Town Farmer's Market
• 9:00 AM Lōkahi Kailua Market
• 10:00 AM Foodie Con & Spring Expo 2023 at the Niel Blaisdell Exhibition Hall
• 12:00 PM Haku Making Workshop: May Day at Kapena School of Music
• 4:00 PM 5th Annual Hawaii Theatre May Day Is Lei Day Concert Headlined by Kalani Pe‘a
• 5:00 PM E Kani Ka Pila! Live Event Supporting Kapi’olani Medical Center for Women & Children
• 6:00 PM Nightly Live Hawaiian Music at Kani Ka Pila Grille - Nathan Aweau

Low Tide at Lanikai

We began our day with a visit to our family beach access in Lanikai, eagerly anticipating the low tide.

To our delight, the normally submerged shoreline at this part of the coast had transformed into the small, sandy beach that we know and love.

We could see a handful of coral reefs peeking through the surface of the water, further confirming that it was indeed a very low tide.

A spring storm swept through the island the yesterday, causing flash flooding in some areas, including the Windward side.

The intense downpour just hours before made today's brilliant sunshine and refreshing trade winds an even more welcoming presence!

Oahu's Balancing Market

The market continues to move towards a balanced market where neither buyers nor sellers have significant negotiating leverage over the other. That means demand has slowed, allowing buyers to take more time to select the right property to purchase and consider their options. Fewer homes sold (down 26.5% for homes and 33.3% for condos) and a decline in  homes/condos for sale (28.9% and 25.8%) translates into more inventory for buyers to choose from allowing them. Buyers who purchased last month paid 96.7% (homes) and 98.5% (condos), a far cry from the 102% and 100% of the list price they had to pay a year ago to buy a property.

In a balanced market, sellers have to be more patient as it took 36 days last month for a home to accept an offer and 24 days for a condo/townhome to accept an offer. Moving forward, sellers and their Realtor will have to navigate the competition by presenting their properties in a way which will accentuate their highlights and market them to ensure active buyers take notice.

Even though the economy and real estate market has slowed, foreclosures are still a very small part of the market, making up only 1.8% of the active inventory on the island. That said, there may be unlisted opportunities or a ghost inventory on its way. In any event, whether buying or selling, a market which continues to shift requires an eagle eye and a professional Realtor to navigate the market like a seasoned captain navigates unpredictable stormy waters.

Read the full report from the Honolulu Board of REALTORS® here.

HAS THE BUYER'S MARKET ARRIVED?

According to the Honolulu Board of REALTORS® Monthly Statistical Report for data through February 2023, overall demand continues to slow, prices are coming down, the number of properties for sale have increased and it takes twice as long to sell a home.

Buyers interpret this to mean they are competing with fewer buyers, they have more choice, homes are more affordable, buyers have more time to make a decision and now sellers are willing to negotiate their price down. Does that mean it is a buyer’s market? Not so fast. There are still less than 700 homes for sale on an island of more than 1 million people and the median sales price of $987,000 for homes and $480,000 for condos is still 9.5% higher and 6.6% higher than 2 years ago.

Furthermore, the remaining inventory of homes is just 2 months. That means if nothing new comes on the market for sale, at the current rate of sales, everything would be sold in 60 days. While the market has softened significantly and it is moving towards a buyer’s market, we aren’t there just yet. It is more of a "neutral" market.

As this market normalizes, agent advice includes spending more time preparing a property before launching it on to the market, so that it can sparkle to attract buyers and prepare both a strategic marketing and negotiation plan.

Buyers can now take the time to brainstorm with their agent on a more comprehensive wish list, as well as, a negotiation style to ensure buyers buy the right house for them at a good price.

Keep in mind that every neighborhood is different. Email, text or call Team Maxey to find out if your neighborhood is consistent with the overall island and our analysis above.

Read the full report from the Honolulu Board of REALTORS® here.

Naupaka Mauka to Makai 

In the green-themed spirit of Saint Patrick's Day, we find ourselves reflecting on 

our favorite places that are shrouded in beautiful greenery across the island, from the majestic Ko'olau Mountain Range to the verdant Naupaka-lined shores of Kailua and Lanikai Beach.

Naupaka Kahakai, also known as the beach Naupaka, is indigenous to Hawai'i, and Naupaka Kuahiwi, also known as the mountain Naupaka, is endemic to Hawai'i. 

Naupaka Kahakai is commonly found along coastal areas, especially on sandy beaches and rocky shores. This variety of Naupaka has elongated, paddle-shaped leaves and produces small, white or light purple flowers that bloom year-round. Naupaka Kahakai is also known for its ability to tolerate salt spray and sandy soil, making it an ideal plant for coastal landscaping and erosion control.

Naupaka Kuahiwi, or mountain Naupaka, is found at higher elevations. This variety has smaller, rounded leaves and produces larger, white flowers with a yellow center. 

Naupaka is a beloved and iconic part of Hawaiian flora, from the sandy beaches to the mountainous regions.

Our recent appointments brought us north of Kailua along the Windward Coast, where we decided to stop in at He'eia Kea Pier & Deli for lunch. 

Extending into Kaneohe Bay, He'eia pier is a picturesque location for fishing, boating, and other recreational activities - including eating! 

He'eia Pier General Store and Deli showcases local flavors with fresh seafood, poke bowls, kalua pork, and loco moco. Rick and Nani both opted in for the beef stew, a Maxey family favorite. 

This area is also home to the He'eia Fishpond, a 400-year-old Hawaiian aquaculture site which has undergone a significant restoration process over the years to preserve its cultural and environmental significance, including a community-led initiative to rebuild the wall that surrounds the pond. The restoration project also involved clearing the pond of invasive species and replanting native vegetation to restore the ecosystem. This has helped to improve water quality in the area and preserve the biodiversity of the bay. The fishpond is now used as an educational site to teach visitors about traditional Hawaiian aquaculture practices, as well as a location for cultural events and activities.

Rain or shine, we always enjoy visiting He'eia with its scenic ocean views, diverse range of marine life, and cultural significance. You can read more about He'eia fishpond here. 

Our Weekly Pit Stops at Lanikai Point

We often make a pit stop at Lanikai Point throughout the work week to check out the conditions and simply enjoy the fresh air. 

Similar to last week when we visited Halona blowhole, the trade winds have been blowing steadily all week. 

Rick's favorite part of these conditions is seeing the windsurfers and kiters come out to play in Kailua. Kailua Bay's trade winds make it a popular destination for windsurfers and kite surfers of all skill levels, whether they are beginners or advanced riders.

Kailua has hosted various international windsurfing competitions over the years, which has further put it on the map as a world-class windsurfing/kitesurfing destination. Rick participated in a number of these competitions in the 70's and 80's. 

Overall, Kailua Bay is considered one of the best spots in the world for windsurfing and kitesurfing, and it's a great spectacle during our Lanikai point pit stops!

Scenic Drive Along the South Shore

Between recent client showings, our commute included a beautiful coastal drive along the south shore. The trade winds have been a steady presence for the last few weeks, making for a stunning display of churning whitecaps along the coast during our drive.

We decided to stop at the Halona Blowhole Lookout and take in the powerful ocean scenery. Located between Haunama Bay and Sandy Beach Park, this natural lava rock opening puts on a spectacular show when the waves are up. 

That being said, the ocean, shorelines, and blowholes can be unpredictable and dangerous, affected by the tide, weather, and other factors. It's essential to follow the safety guidelines and rules provided by local authorities and any accompanying signage displayed at the location. 

The surrounding area of this lookout is also known for its stunning views and nearby beaches. Halona Beach Cove is just a short walk from the blowhole and a popular spot for locals and visitors alike. This tucked away beach has been featured in several Hollywood movies and television shows, including From Here to Eternity, 50 First Dates, Pirates of the Caribbean 4: Stranger Tides, and Jurassic World: Fallen Kingdom, to name a few!

Halona Blowhole is shown in the above video and nearby Halona Cove in the below photos.