Here are some quick updates on the Hawaii Kai Marina dredging project, improvements to the marina’s property, and Safeway expansion/Hawaii Kai shopping center deferred improvements for the Summer of 2020. I will also answer the question: How is Hawaii Kai Marina front real estate faring during the Covid-19 pandemic?
Dredging
It is hard to believe but the dredging is nearly complete! The ultimate goal of the project was to restore adequate depths for vessel berthing and navigation while also using the dredged material as beach nourishment. There are a few more areas in the marina that still need attention. If all goes according to plan the work will be completed in September, 2020.
For more information on this project,
CONTACT BEVERLY LIDDLE,
Marina Manager
(808) 396-2469
Beverly@hawaiiakaimarina.com
Other Marina Happenings
As you have driven by and especially as you have boated under the bridge on Hawaii Kai Drive near the Moorings, you see improvement to the marina’s property. This site has been used to receive dredging materials.
American Marine Corporation has gone above and beyond just dumping to leveling the property and placing rocks attractively to keep the soil and fill in place.
The Marina Association is looking into other marina related uses for this property including trailer storage and an above ground fuel facility. Meanwhile, the property is looking much more attractive!
The Marina Association has also applied for a permit to replace the sandbag groin with a rock groin heading out to Maunalua Bay. Government approval of the permit is not expected before September 2021. Then construction can begin.
The annual Boat Parade scheduled for the second Saturday in December this year. It is
anyone’s guess whether it will be held. Socially distancing the boats is easy; however the thousands who view the parade from shopping centers and private homes is problematic. For now it is on a “let’s wait and see “ hold.
Hawaii Kai Shopping Center
We have all seen Safeway expanding into the former Kale Health Foods Site. It could not happen any sooner for most of us who shop in Safeway. It is especially fortunate that with social distancing in place we will have more space in which to do our shopping.
According to the project manager for Tri State Contractors, the expansion adding 8,077 square feet to Safeway should be complete by October 2020. Also, all new roofing and exterior painting should make the facade more attractive a well.
It turns out the terrible condition of the parking lot is not the only deferred maintenance in the shopping center. There is extensive termite damage and mold in the structures as well. Tri State is correcting all of that for Safeway. Also Safeway is footing the bill for the improvements to the entire structure it sits in.
What about the rest of the shopping center? Despite the community petition, letters from Representative Gene Ward to Dunhill Partners, the Dallas based company that manages the shopping center and notices of violations issued by Department of Planning and Permitting, the parking lot remains a mess and dangerous.
Kamehameha Schools (KS), the owner of the Hawaii Kai Shopping Center, hopefully will take legal action to get Dunhill Partners to fix the parking lot and the deferred maintenance on the entire shopping center. We are waiting to hear an update from KS.
How is Hawaii Kai Marina front real estate faring during the COVID-19 pandemic?
The answer is vastly different for condominiums/townhouses and single-family homes.
There are currently 21 condos and townhouses on the active market. Eleven others are in escrow and fourteen have sold during the past six months. Sold prices vary from $478,000 for a one bedroom in the Esplanade to $1,550,00 for a three bedroom in Kalele Kai. This measures as a median price of $776,000 and an average of 70 days on market to sell.
During the last six months of 2019, 44 condo/townhouses on the marina sold, at a median price of $799,500 and an average of 49 days on market to sell. As the numbers show, current sales are far fewer during the pandemic and prices have decreased by about 3%.
Single-Family marina front home sales present a different story. There have been 7 homes sold over the past six months at a median price of $1,600,000. These homes have sold in an average of 84 days. Only 3 homes are currently on market and another is in escrow.
During previous six months, only four single family waterfront homes sold at a median price of $1,767,500 in 56 days. The price drop of nearly 10% may be a bit misleading due to the small number of homes sold in the latter part of 2019.
What does appear to be happening during this very difficult time is that buyers who are able to be in the market prefer to purchase single-family homes.
What might you prefer? See my thoughts on this common buyer question: Should I choose a townhouse or a single-family home in Hawaii Kai?
