MARKET REPORTINTEGRITY - HONESTY - EXCELLENCE

2010 Average Sales Price Per Transaction for Top 8 Oahu Brokers in Sales Volume, Jan-May 2010

View Larger Graph As part of Choi's commitment to excellence, our Market Report ensures that each client has access to the most up-to-date real estate market information for their specific needs. Buyers and sellers can obtain current information and statistics that allow them to stay apprised of market developments, alert them to dynamic trends, and ultimately enable them to make practical, informed decisions on their investments.

View the latest Honolulu Board of Realtors' MONTHLY STATISTICAL REPORT which analyzes residential resale activity on the island of Oahu.

LUXURY SINGLE-FAMILY RESIDENCES
HONOLULU, HAWAII

What does a Billion in Sales Mean as Far as Market Knowledge?
It’s most likely that you are viewing this Market Report to learn something about the Luxury Real Estate market in Honolulu. If you are a Buyer, you are in the top tier of Honolulu’s residents and if you are a Seller, you are wondering what might be happening to luxury home sales. You are looking for an expert with Unrivalled Expertise.

I think you would agree that a Realtor who has sold a Billion Dollars of property, is the #1 broker in Honolulu for 14 consecutive years, recognized nationally as one of the “35 Most Influential People in Luxury Real Estate” and identified by the Wall Street Journal as one of the top 50 brokers in the United States, would be the person to contact. The market knowledge possessed by this person and her company would be invaluable. 

So please bear with us, as you read about Patricia Choi:

LuxuryRealEstate.comPress Release: July 26, 2010
We are honored to announce that the Fall 2010 Luxury Real Estate Lifetime Achievement Award recipient is Patricia Choi of Choi International in Honolulu, Hawaii.
 
This prestigious award is given twice annually to the Luxury Real Estate member who has set an example for the real estate industry, displayed excellence throughout their career and is truly a legend. 

Patricia Choi was born in Birmingham, Alabama and moved to Hawaii in 1975 to be an estate, tax and real estate paralegal with the law firm of Torkildson, Katz, Conahan & Loden. There she met her husband, Cedric Choi, who was an associate attorney and licensed real estate agent. In 1981 she started her "boutique" real estate firm, specializing in luxury real estate and commercial properties.

During the 32 years that she has been involved in real estate sales, Patricia has achieved over One Billion in sales and has distinguished herself as a leader in regional, national and international real estate organizations. Locally, she was the first recipient of the Aloha 'Aina Real Estate Award as the Realtor's Choice in 1998 for her service to the industry and clients, her professional and ethical conduct, her cooperative business approaches and extraordinary service to all in transactions. She was appointed by the Governor in 1999 to the Real Estate Commission of the State of Hawaii, to which she devoted part of her time as a public service until 2003.

Patricia is also very active as a director and volunteer fund raiser for various charitable institutions such as the Kapiolani Hospital for Women & Children’s capital campaign committee and the Washington Place Foundation for the restoration of the Governor's mansion.

Patricia has achieved the coveted designation of CCIM (Certified Commercial Investment Member), held by less than 10,000 of the 1,118,000 realtors in the nation and the international real estate designation of CIPS (Certified International Property Specialist). She has served on the National Association of Realtors International Operations Committee and received an award as the Outstanding International Reciprocal Director to Korea for 2000.

Her outstanding performance as a luxury broker has led to her selection as a Board of Regents member for LuxuryRealEstate.com, an exclusive organization of over 800 of the world’s top brokers. In 2006, Patricia was nominated by her peers to be a member of the Board of Regents Executive Committee, which serves as a council and advocate for other Regents members and works to promote as well as expand the Regents program. Pat is also a member of the LuxuryRealEstate.com Billionaire’s Club, in recognition for her outstanding sales achievements. Additionally, Patricia is proud to be a founding member of the Institute for Luxury Home Marketing, a member of LuxuryPortfolio.com and Leading Real Estate Companies of the World.

With over $200,000,000 in sales in 2005, Patricia was ranked #3 of the Top 200 Brokers in the U.S. and recognized as one of the 35 Most Influential People in Luxury Real Estate. Hawaii Business Magazine's prestigious list of "Who's Who in Hawaii Real Estate" recognized Patricia for three successive years as the #1 Realtor in the State of Hawaii, and recently honored her as Oahu’s #1 Realtor for 2009. Patricia has also been honored as one of the "Top 100 Most Influential Women in Real Estate" for 2008 by renown real estate trends expert and best selling author Stefan Swanepoel.

Patricia has been the leader in luxury residential sales in Honolulu by dollar volume for the years 1996, 1997, 1998, 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009 and into 2010.


Some Market Information For Non-Resident Buyers – Prices are Stable
Choi International is the leading luxury real estate company in Honolulu and has been for the last 14 years. From January through July of 2010, Choi International has sold nearly 50% of the homes and condominiums in East Honolulu over $3 million, and the company’s average sale is in excess of $2 million. In terms of luxury home and condominium sales, Choi International is the leader in market information and exclusive knowledge of desirable properties not on the open market.

As compared to the other top 7 companies ranked by sales production, our leading average sales price per transaction shows the concentration and focus of Choi International in the Luxury market.

If you are considering buying a home in Honolulu, our professionals have the market knowledge to provide guidance on the best home for you.

For those Buyers from the mainland United States or from foreign countries, you should know that our prime luxury properties are still in demand. Honolulu has not suffered from catastrophic price adjustments. Our best neighborhoods of Kahala, Diamond Head, Portlock, Kailua and Lanikai have done well during the economic turmoil of the last few years. While there have been price adjustments in the order of 25%, prices have stabilized at an understandable and, in our opinion, a sustainable level. It is not a supercharged real estate market, but it is a market that appears to be reflecting the value of worldwide demand for a temperate climate, pure air and water, safety, terrific health care and for an island culture that appreciates the natural beauty of a tropical paradise.

The best way to determine what to buy or sell in a specific neighborhood is to have your real estate agent prepare and review a Comparative Market Analysis with you. For example, the MLS service permits us to do searches within very discrete neighborhoods, like Kahala, Black Point, Diamond Head, Lanikai, Kailua Beach and others.  It has been our experience that those neighborhoods are less volatile than the market as a whole, reflecting the worldwide demand for spectacular Honolulu properties in outstanding locations.

Choi International stands apart from other companies in our emphasis on representing buyers and sellers of exceptional properties. For further information, please feel free to e-mail us at hawaii@choi-realty.com or call us at 808-734-7711.