Central Oahu experiences strong real estate growth

Oahu’s home prices continue to climb to new heights, with Central Oahu among the most sought-after area for buyers of single-family homes. This record-breaking activity is fueled by a historically low inventory of homes and mortgage interest rates. While most economists predict that low interest rates will continue for some time, smart buyers aim to act sooner rather than later, as demand continues to outweigh supply and the economy begins to recover from the effects of the COVID-19 pandemic.

The most recent reporting from the Honolulu Board of REALTORS®, states the median resale price for single-family homes on Oahu is now $928,000, while the median price for single family homes in Mililani rose to $1,026,500 — a 26% jump over March 2020.

Catering to the growing population of Central Oahu and its own record growth in 2020, Corcoran Pacific Properties, a locally owned and operated franchise of the Corcoran Group, recently announced the opening of its newest office at Town Center of Mililani, led by real estate veterans and brokers in charge Beth Makanani (R) and Linda McCabe (R).

“Central Oahu is a great place to put down roots,” says McCabe. “Its location encompasses the established neighborhoods of Pearl Harbor, Pearl City and Aiea, ideal for new families and move-up buyers.”

Mililani, Waipio Gentry, Royal Kunia and Waikele are popular communities with schools, shopping, parks and easy access to the main thoroughfares that connect you to Honolulu, the Westside and North Shore.

“As we recover from these challenging times, property viewing and walk-throughs are now available by appointment and virtual arrangements also continue. However, speed in decision making is encouraged due to the extreme lack of inventory and low days on the market. Sellers have been swamped with multiple offers, so making your offer stand out is the newest challenge we face. We look forward to making our presence known while assisting and educating sellers and buyers in this busy market,” says McCabe.

Previously known as Elite Pacific Properties, Corcoran Pacific Properties launched as a Corcoran franchisee in August 2020. Now the fourth largest real estate brokerage in Hawaii, with over $1.59 billion in sales in 2020, the company continues to grow with 200-plus agents, and a unique sales success program that includes direct support, technology systems, coaching and education.

According to senior vice president of brokerage Chuck Garrett, “The agents in our Mililani office have strong ties across Central Oahu and deep-rooted neighborhood knowledge. This is an ideal opportunity to offer our full service, concierge-like services to more Oahu residents, and the perfect complement to our Kailua and Kahala locations.”

For further information on Corcoran Pacific Properties in Mililani, visit corcoranpacific.com or call 808-589-2040.