So today we’re gonna do our first neighborhood breakdown. We’re gonna go over the neighborhood Lanikai, my personal stomping grounds and we’re gonna check out what this place has to offer and what’s going on in the market in here.

There’s honestly a lot of cool things about this neighborhood and I absolutely love living here. But first off, what you need to know is that everybody is extremely active in Lanikai. You’re always seeing people running around what we call the Lanikai loop. It’s a three-mile loop one way in one way out, which can be cool but also kind of a bummer sometimes when it comes to traffic because we do have a gorgeous beach. Lanikai is infamous for its beautiful blue waters, the Mokulua Island, and its baby powder dish sand, which is absolutely amazing, it feels just stunning in between your toes. Another cool thing is you can take the kayaks out if you’ve got some or you can rent some down the street, go out to the Mokuluas, jump in the water, get your little island on an island experience and another thing about Lanikai is that everything is pretty close to the actual town of Kailua. It’s a bike ride away, and if you don’t mind sweating when it’s hot, there are also some great restaurants that you could check out.

Now, I’m gonna go over some of the numbers in this market. So you get a better idea of how much it costs to live here and if you’re selling a house, how much and how long a property will stay on the market?

Lanikai Single Family Home Prices

If you want to own a single-family home here, the average price in Lanikai is $3.1 million. So with such a high price point, there’s a lot of reasons for it. Obviously, the beautiful beach is a great factor to it and it’s very exclusive. There’s only a certain amount of homes that fit in the Lanikai Loop. The cool thing is there’s a large price variation. So there’s a couple of homes that just came on the market for about $2 million, but there are some homes that are right on the beach that are up to $6-8 million sometimes even more than that.

So there is some wiggle room there if you got a couple of millions just sitting around. The beach is actually ranked one of the top 10 most beautiful beaches in the world. Now with such high price point homes, naturally what we see is that the average days on market for a home to get sold is much higher than a single-family home in Kailua, which is going to be anywhere between 800 to a million which usually as of now are sitting on the market for about 28 days. So out here in Lanikai, the average number of days on market is up 154 days to sell your home. That’s on average. It’s up from two months ago when it was 98 days and this is naturally happening for a couple of reasons.

At this price point (3-8 Million +) there is a smaller buyer pool which increases the number of days on the market because there are only so many people who can afford a $3-$8 million dollar home. So that’s why we’re seeing these houses sit on the market for 154 days, there’s just not as many people who can afford homes at that price point.

Another thing that’s important we want to look at is the percentage of the listing prices received. Generally as of now, across the island, we are seeing that that’s about 102.2%. and this varies from neighborhood to neighborhood.

But out here in Lanikai, if a house is sitting on the market longer, naturally they’re gonna make that number a little bit lower, meaning, you technically get the house on a bit more of a “discount”. Right now in Lanikai, the percentage of listing price received is 96.8%. So if we do some simple math, if the average price of a home is about three million and what that person is receiving is 96.8%, you’re looking at about $2.9 million. So you’re actually getting the home 100 grand less than what the people are listing it at.

So that should give you some ideas of what’s going on in the market and how that’s affecting the Lanikai single-family home market. So anyways guys that is your neighborhood breakdown. I hope you picked up valuable information from this. If you want me to do more neighborhood breakdowns I would love to hear what neighborhood you want me to check out and what details you want to hear.

Thanks for checking me out and I’ll see you on the other side. Aloha.