Consistently rated the “Best Island in the World” by travel experts, this Hawaiian beauty underwent a growth spurt during the past decade that some critics bemoaned as excessive. But the southern coast, anchored by the hamlet of Wailea, has weathered it all well. One of the first master-planned resort communities in the nation, it’s a balanced blend of understated gated communities, luxury resort hotels, three excellent golf courses, a tennis center and, of course, several crescent sandy beaches. Wailea has 500 single-family homes, and their views are stunning: lush, verdant hills, brilliantly blue ocean and, after the steamy sun showers, rainbows over the horizon.

Though this may come as a surprise to many of our mainland friends, this ranking comes as no shock to those who have had the pleasure of experiencing the island of Maui. Moreover, Maui is leading the way not simply to a Hawaii revival, but a nationwide rebound. Principle catalysts behind the luxury real estate comeback include the budding of a bull market in 2010, the leveling out of home prices, as well as the general stabilization of the national economy. Bargain hunters and savvy real estate investors alike see huge potential in buying in the current Hawaii market. Likewise, primary home residence values have risen in the first several months of 2010, as well as condo sales. As the flood of positive Hawaii Real Estate news continues, even the most pessimistic of us have begun to find hope in our islands once more.

The entire article may be accessed here: 10 Best Places for Second Homes

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Maui Fever: The Valley Isle Ranked First for Second Home Locations

New! Prudential Locations has launched a tool that allows to search for properties within 1-15 miles of these Oahu Military Bases.
Military Base Proximity Search Tool

Click Here to View Larger, More Detailed Map Of Oahu Military Bases

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Military Relocation to Oahu – Map of Military Bases in Oahu, Hawaii

Kidding aside, it does seem like a great move for someone who wants to make a micro-investment in Real Estate. You can either rent this unit out traditionally, or participate in the hotel rental pool. The hotel rental pool is not, in fact a swimming pool.

Usually, units in hotels have big maintainence fees. Not this one, which comes out to a manageable $236/month. Furthermore, the owner has been pulling in a respectable $850/month in rental income. So you can expect that much if you decide to buy it – more if you are willing to accept payment in crystal meth.

This unit is listed by Frances Gendrano of KFG properties.
On the other hand, the most expensive home on Oahu is here.

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The Cheapest Fee Simple Property Available On Oahu

This humble little cottage sits on 102,557 square feet of land located on Waialae Nui Ridge, overlooking Kahala and the Waialae Golf course. The view from this mansion extends from Koko head to Barbers’ Point. It can all be yours for a cool $18,000,000.

The home includes a movie theater, two swimming pools, a waterslide, a spa, a gym and a 5-car garage.

The property also has 1650 feet of Lanai space, which is where the future owner will spend most of his time, assumedly being fanned with palm fronds by slave girls in metal bikinis.

It is currently listed by Margy Grosswendt of Coldwell Banker Pacific Properties. Based on a standard 6% commission with a 50/50 split between brokers, we estimate that the sale of this home will generate approximately $540,000 in Gross Commission Income if it sells at the listed price.

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See How the Other Half lives: The Most Expensive Home For Sale on Oahu

Kaillua, Oahu Neighborhood Overview:
One of Oahu’s most sought-after neighborhoods, Kailua has distinct areas of luxury estates, mostly near Lanikai and Kailua Beach. Some of Oahu’s most expensive homes are beachfront Kailua, and prices throughout Kailua are continuing to remain stable and rise slightly thanks to the growing cache of the neighborhood.

In 2008, Kailua will be one of the few places that might see slight increases. Prudential Locations Partner and Realtor, Mary Robb points to the very low inventory in Kailua as just one sign of the strength of Kailua’s housing market. New wine bars, boutiques and amenities are adding a growing sophistication to this once sleepy beach town. Robb says even sellers who purchased their homes in the early days of the hot market days will likely be able to realize a profit if they decide to sell this year.

As for prices, Robb sees very stable pricing with no significant movement from current prices in any of the price segments. She doesn’t expect Kailua to experience price declines – the days of waiting for prices to fall in Kailua are over. But she calls 2008 a “market of opportunity” for buyers because the speculative market and days of flipping properties are gone for awhile. Those looking for a place to live can buy and be confident their home will continue to maintain its current value and experience an increase in future years.

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Kailua Real Estate and Homes Overview – July 2008

You can download the report released July 16,2008 and look up schools in particular neighborhoods.
Download Hawaii School Ratings   The ratings are explained below.

What is AYP?

Adequate Yearly Progress (AYP) is part of the Federal No Child Left Behind Act and makes districts and schools accountable to students, parents and educators. To meet AYP, schools must meet achievement targets in reading and math, as well as graduation, attendance and test participation targets.

In addition to higher standards, (45% in math and 54% in reading in 2004-05), schools had to show 90% attendance for schools without a graduating class, or an 80% graduation rate and a 95% participation rate for students who took the exam.

Under the federal No Child Left Behind Act, schools are expected to make annual progress toward having every student proficient in core subjects by 2014.

The benchmarks ratchet higher each year, and the goal for schools is to reach the state proficiency targets — or make AYP, adequate yearly progress — on the Hawai‘i State Assessment in reading and math, and meet other goals relating to test participation and promotion or graduation.

This year instead of 10 percent of a school’s students meeting math standards as in 2004, 28 percent had to meet them; and instead of 30 percent of a school’s students meeting reading standards, 44 percent had to meet them if the school was to meet new overall goals.

These levels will remain the same for the next two years before they increase again.

This applies to all students, including subgroups defined by ethnicity, poverty levels, English proficiency or special education needs. If any of the 37 subgroups is deficient, the entire school is labeled as not achieving AYP. AYP results are used to determine a school’s status under the No Child Left Behind Act of 2001.

For schools that do not attain the benchmarks, the law specifies a six-year path to the most far-reaching remedies, which can include replacing the entire teaching staff and eliminating arts classes in favor of a more rigorous academic curriculum.

A school is subject to No Child Left Behind sanctions if it misses AYP for two consecutive years, and the sanctions increase if AYP is missed in subsequent years. Once under these sanctions, a school must achieve AYP for two consecutive years to be removed from status.

The No Child Left Behind status categories:

Good standing, unconditional: Meeting AYP.
Good standing, pending: Missed AYP this year, will have to improve next year to avoid sanctions.
School improvement, Year 1: Missed AYP 2 years; from this level on, students can transfer schools.
School improvement, Year 2: Missed AYP 3 years; from this level on, students can transfer schools or ask for tutoring.
Corrective action: Missed AYP 4 years; staff or curriculum changes must be made.
Planning for restructuring: Missed AYP 5 years; state plans major changes such as replacement of staff or conversion to charter school.
Restructuring: Missed AYP 6 years. The state will begin implementing the planned changes.

How Hawai‘i schools fared

Good standing, unconditional – 80 schools, or 29 percent
Good standing, pending – 65 schools, or 23 percent
School improvement, Year 1 – 14 schools, or 5 percent
School improvement, Year 2 – 65 schools, or 23 percent
Corrective action – 2 schools, or 1 percent
Planning for restructuring – 13 schools, or 5 percent
Restructuring – 40 schools, or 14 percent

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Hawaii Schools Ratings

Most would agree that Mililani is a charming suburb comprised of a diverse group of Hawaii residents in Central Oahu. The area’s planned communities composed of tranquil tree-lined streets, good schools and well-kept recreational centers attract families and young couples, while managing to retain long time residents.

Click For Full Size

Although there are several shopping centers and businesses, including the Hawaii’s first Wal-Mart, and numerous restaurants with varying culinary specialties, most Mililani residents must commute to work. Potential residents need not be discouraged by the somewhat lengthy drive to Town; the H-2 freeway provides welcome relief to the bottleneck from Leeward Oahu.

Mililani is also near Schofield Barracks and Wheeler Army Airfield, making it a high-demand neighborhood for military personnel who want to enjoy life outside of the base. Mililani’s significant military presence adds even more cultural diversity to an already diverse community.

Home values in the area have enjoyed a steady upward appreciation over the last decade; median single family home prices rose from $261,000 in 1998 to $630,000 in 2007. Even as the number of sales continue to decline in 2008, Mililani is one area that will likely stay stable.

Inventory in Mililani is not as tight as it is in other neighborhoods, thanks to both Mililani Town and Mauka areas. And, says Prudential Locations Realtor and Partner Linda McCabe, buyers often choose Mililani over neighborhoods farther west because of its more established feel and closer proximity to town.

Since its initial planning in the 1960’s, Mililani has managed to grow from a small tract of about 100 houses, to a 16,000 home satellite city, all the while maintaining that clean cut, small town charm.

Millilani Real Estate Chart – Click for full size

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Millilani Real Estate Overview

Kahala is still the crème de la crème of Oahu’s real estate market— spacious mansions, beach access and a short commute to downtown make it the most desirable neighborhood of single-family homes on the island.

Average real estate prices in Kahala reached a record-high $1.8 million in 2007, and at the very tip-top of the real estate market, dominated by super-affluent buyers and sellers, larger economic worries often don’t mean much. In fact, Kahala is usually the last area to be hit by a slowing home market and the first to recover.

If there is a weak spot in Kahala, it’s in what Prudential Locations Realtor, Partner and Kahala Expert Dolores Bediones calls the “gap group” – those homes priced in the $2.5 million to $4 million range. These homes are often ones that were remodeled in the 1990s, and while they sit on fabulous off-beach lots, and have some of the most luxurious amenities, dated décor can be a danger. Buyers at this level typically look for move-in ready homes that don’t need much updating.

Still showing the most strength in Kahala is the entry level price point – about $1.4 million to $1.9 million. Homes at this price are often fixeruppers or even tear-downs. But investors can still profit from gutting or rebuilding a home on a great Kahala lot and reselling it soon after. And the very top end – Waterfront and beachfront houses at $7 million and above, still sell, but often take several months or even a year. It’s not for lack of buyers though. These ultra-wealthy buyers typically shop for additional homes when they are in Hawaii – during the holidays and summer time – and so the sales cycle is very much seasonal.

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Kahala Real Estate Snapshot and Chart