Oahu Housing Statistics • June 7, 2022

O‘ahu Housing Prices Continue to Tick Up, Setting New Records

by Stephanie K. Chan

Properties spend a near-record median of 10 days on the market

The single-family home market started to cool with closed sales dropping 15.1%, while the demand for condos remained steady with closed sales rising 15.1% compared to May 2021. Both markets saw median sales prices continuing to tick upwards, setting new records, with single-family homes reaching $1,153,500 and condos hitting $516,500.

Single-family homes in the $600,000 to $999,999 price range represented the most significant decline in sales activity, dropping 41.2% compared to one year ago. Most regions across O‘ahu experienced a dip in sales, except for the Central region of Mililani and Wahiawa, which ended the month on a high note with a 61.9% increase in sales.

Condos in the more affordable price range of $300,000 to $599,999 represented 48.0% of closed sales in May, with a volume increase of 13.4% from one year ago. Condo sales in the $700,000 to $899,999 range more than doubled compared to May 2021, representing 17.6% of May closings. The Metro region accounted for the most significant increase in condo sales, up 21.9%, while the Ewa Plain area saw sales decline by 20.3%.

“As interest rates and median sales prices rise, the question of what people can afford is clearly impacting market dynamics,” said Chad Takesue, president of the Honolulu Board of REALTORS^®. “We see this reflected in the active inventory of single-family homes, which rose 39.8% from a year ago. Though we’re still lagging behind pre-pandemic levels, this increase in much-needed inventory gives prospective buyers more options to choose from across the various price points.”

Sales of single-family homes and condos are moving at a near-record pace, with properties spending a median of 10 days on the market in May. Sales closing above the original asking price continued in May, with 217 single-family homes and 313 condos selling for more than the original asking price. For single-family homes, this represents 63% of the month’s sales and 45.5% of May condo sales.

Garden • June 6, 2022

6 Steps for Getting Rid of Bugs in Your Lawn and Garden

by Stephanie K. Chan

When you see bugs on your plants, it’s tempting to go with a “squish/spray first, ask questions later” response. But insects can be our friends or our enemies in the garden, so it’s important first to figure out what you’re dealing with before acting. Are the bugs actually eating or otherwise harming your plants? If it turns out that you do have “bad” bugs you want to get rid of, the best method for helping you figure out what to do is called Integrated Pest Management (IPM). IPM relies on cultural, physical, biological, and chemical tools, used in a way that targets the least toxic options necessary to do the job. Here’s how to put this approach to work for you.

How to Get Rid of Bugs in Your Garden

You can use IPM to eliminate bugs on any of your flowering plants, trees, shrubs, and vegetables. Just follow these steps with each type of garden bug you encounter, going in order until you reach the control level effective for dealing with the problem.

1. Decide on Acceptable Pest Levels

What is the acceptable level of aphids or Japanese beetles in your garden, for example? Some people cannot accept any, while others tolerate a small number of them because they’ll do little overall damage. A hefty infestation that’s clearly causing a plant to decline may warrant action. Still, if the plant seems unaffected other than cosmetic damage, some gardeners prefer to let nature run its course.

2. Practice Prevention

Crop rotation and attracting beneficial insects or other predators are a couple of cultural control strategies (i.e., how and what you grow) that can help minimize pest problems. If you have an invasion of cabbage loopers (small green caterpillars), for instance, you may want to avoid growing plants such as broccoli, cabbage, cauliflower, and kale for a season to starve out the looper population. And to keep grasshoppers at bay, plant marigolds, calendula, or sunflowers nearby to attract robber flies, which attack grasshoppers.

3. Keep a Close Eye on Pests

Scout your garden at least once a week. In addition to looking for generalists that commonly pop up in gardens, such as aphids and Japanese beetles, watch out for more specialized pests you know tend to show up every year, such as cucumber beetles in your vegetable garden or sawflies on your roses. The sooner you catch the problem, the easier it will be to nip in the bud.

4. Get Physical

For smaller, soft-bodied pests such as aphids, a strong blast of water from your garden hose can get rid of the problem pretty quickly. If you find larger pests such as Japanese beetles or tomato hornworms, knock them off your plants into a bucket of soapy water. (Wear gloves to minimize the “ick” factor if you’re squeamish.) For some pests that create a localized problem, such as webworms (caterpillars that make large nests that look like webs in the leaves of trees and shrubs), you can cut away the branches where the infestation is to solve the problem.

5. Wage Biological Warfare

Biological controls can take a variety of forms, but in general, any living creature that has a lethal effect on pests is fair game. Sawflies, for example, can be treated with spinosad, a natural chemical made by soil bacteria that is toxic to insects but not to people or pets. Similarly, Japanese beetle larvae in your lawn can be controlled with milky spore, which is a natural fungus that targets the grubs. You can also use “good bug” predators against some insects, such as ladybugs and lacewings, to gobble up aphids.

6. Apply Chemical Controls

When nothing else seems to be working, and you want to get rid of bugs on your plants, you can try a pesticide. There’s a large variety of products to choose from, some of which are organic (made from natural sources like neem) and some of which contain synthetic chemicals. Some are broad-spectrum, meaning they will kill just about any bug, and some are selective and will only kill a certain kind of insect, such as caterpillars. No matter which kind you choose, check the label to make sure the pesticide is actually for treating the bug you want to control, and pay close attention to any warnings, such as hazards to pollinators, pets, and people.

Usually, a combination of control measures will give you the best results. For example, you can get rid of squash bugs by protecting plants with a physical barrier like floating row covers, picking the insects off by hand, and planting marigold, calendula, sunflower, daisy, alyssum, or dill to attract beneficial insect predators. Finally, remember that most bugs you see in your garden will not do a huge amount of damage, so tolerating them is often the easiest course of action.

Other • June 3, 2022

How to Plan the Perfect Picnic

by Stephanie K. Chan

A summer picnic is always a fun way to enjoy time with friends and family and soak in a beautiful day, whether it’s at your favorite park, beach or lakeside, at the top of a lovely overlook or even in your own backyard. You can simply grab a few items and be on your way.

Here are a few fun and inspiring ways to help you plan the perfect picnic this summer.

First, you’re going to want to make sure you have something to carry your food and beverages in. There’s something really nostalgic and charming about those classic woven style picnic baskets. But don’t worry if you don’t happen to have one, a cooler, backpack or large tote will also do the trick. Whatever you choose, you’ll just want to make sure that you can keep food and drinks cool.

When you think about picnics, you most likely think about an outdoor blanket that you can sit, eat and relax on. If that’s your preference just make sure it’s durable and can be rolled and unrolled easily. If you want to make sitting on the ground a little more enjoyable, then pack some decorative pillows to add both comfort and style to your picnic. Another great option is to bring along a few folding chairs that are easy to transport and set up.

You may also want to consider bringing a grab-and-go style picnic table. These lightweight, easy-to-carry tables feature folding legs – some even include handy slots for wine glasses. And lastly, you don’t want to forget utensils and dinnerware. Make sure you they’re durable and can withstand being packed and dropped.

When it comes to the menu, you can keep it light and simple. Easy sandwiches, chips or pretzels, some cheese and fruit and refreshing drinks like homemade lemonade help complete the perfect picnic. Or you could go all out and get creative with a beautiful charcuterie board with your favorite meats, cheeses and chocolates. You can even add some decorative greenery and flowers to make it a little more Instagram-worthy.

Sunny warm days are the perfect excuse to ditch the dining room and dine alfresco, just don’t forget to bring a book or a frisbee!

Picnic with fresh vegan dishes in summer park. Healthy meal, veggie sandwiches with tofu and grilled vegetables, salad with quinoa, zucchini, eggplant, mix tomatoes, fresh lemonade served on a colorful striped blanket. Plates made from the ecological material of palm leaves, wooden cutlery and glass bowl

Recipes • June 2, 2022

Beat the Heat with Summer Salads

by Stephanie K. Chan

Fresh strawberries, spinach and goat cheese salad

When the weather heats up, it’s the perfect time to whip up light and refreshing salads. From fruit to pasta to all those fresh, leafy varieties – there’s no limits to what you can toss and serve this summer. Here are just a few delicious and inspiring salad ideas.

Keep it Fresh and Fruity
There’s nothing more refreshing in the summer than perfectly ripe berries. Luckily, just about any berry can be used in a salad. A great one to try is a strawberry feta tossed salad. The ingredients are simple, and the end result is a healthy, sweet salad that is sure to impress. Although it calls for strawberries, you can definitely toss on a fruit of your choice. Think blueberries, raspberries and even peaches.

Pass the Pasta
A great summer get-together is not compete without an amazing pasta salad. One simple showstopper is a pesto pasta caprese salad. There’s nothing like fresh garden basil, which is highlighted in this lovely summer dish. The addition of sweet grape tomatoes, fresh mozzarella balls, pesto and olive oil are sure to make this a huge hit. Not only does it taste amazing, but it’s also photo worthy. Again, you can get creative and throw in some spices and other veggies, but honestly just sticking to the recipe on this one is really the way to go.

Did Someone Say Salad for Dessert?
You know what they say, everything old can be made new again. So, start going through grandma’s recipe books, because there’s bound to be a couple of dessert salads that you can modernize with ease. Take for instance, this pineapple pretzel fluff recipe. Talk about a refreshing new take on the dessert salad. This recipe calls for canned pineapple, but you can always go the extra mile and choose fresh. These types of dessert salads are the perfect addition to any summer barbecue.

As you plan your summer days, make sure and toss in a few of these fun summer salads – pun intended. Enjoy!

Technology • June 1, 2022

Tech To Smarten Up Your Household Cleaning

by Stephanie K. Chan

Need a little help around the house? Today’s technological gadgets can clean gutters, mow lawns, vacuum floors and even clean your toilet bowls. This real-life tech is accessible for everyone to make life a little easier. Check out these cool ideas for some smart home cleaning gadgets.

Say Goodbye to the Pool Boy

Robotic pool cleaners can brush, scrub, vacuum and filter your pool’s surface, making them just as handy, if not more so, than your typical pool maintenance company. Say goodbye to pesky leaves, dirt and grime on the pool walls with a touch a button. Top-of-the-line models let you set daily or weekly schedules with hassle-free cordless options.

Lawn Time Coming

The days of fighting the lawn (and the H.O.A.) are over. Robo lawn mowers are rapidly evolving to become even more efficient, streamlined and even quieter for painless grass cutting. That way, you can focus on spending time with family and friends instead of mowing your lawn under the hot sun. Many models can be scheduled to cut when you want them to and offer easy control, so you can take the work out of yard work.

Toilet Talk

Smart toilets offer amazing technology such as ultraviolet light for sanitizing, night lights, self-cleaning nozzles and deodorizers. These thrones give you more than the traditional toilet. Newly added comforts such as a heated seat, automatic opening and closing lid, front and rear warm water sprays, auto flush and warm-air dryer make your bathroom a high-tech experience.

Pet Products Save The Day

Tired of constantly cleaning the litter box? There’s a robot for that. Check out this awesome list of smart pet products, including a remote-access automatic feeder, glow-in-the-dark collars, automatic pet door, treat tossing camera, GPS trackers and of course, the self-cleaning litter box. You and your furry friends will be glad you did.

Smart Starts in the Garage

If you’ve ever been locked out of your garage, you know the feeling. That’s why smart garage door openers have been popping up everywhere to give homeowners access to easy-to-use tech. From Amazon deliveries to letting family and friends inside, these clever openers don’t just click to close. They let you have control from your phone with daily notifications, custom schedules and even home lighting accessibility while you’re away.

Let’s not forget gadgets that wet mop, clean windows, scrub barbecue grills, offer companionship and even teach the kiddos. With so many options today, new technology can be a reality of modern life and can make yours so much easier!

Robot mower cutting high grass.

Economy • Market Trends • May 27, 2022

Mortgage rates fall to 5.10% in biggest drop since 2020

by Stephanie K. Chan

MARKETS & ECONOMY

Mortgage rates fall to 5.10% in biggest drop since 2020

Rates on 30-year fixed-rate mortgages have dropped 20 basis points in two weeks, the most dramatic decline since April 2020

BY BEN VERDE

May 26, 2022

Bottom of Form

Mortgage rates decreased for the second week in a row, according to a report released Thursday, as the U.S. economy faces multiple headwinds and the housing market shows signs of slowing for the first time in years.

Since hitting a 2022 peak of 5.30 percent during the week ending May 12, rates on 30-year fixed-rate mortgages have fallen by 20 basis points, averaging 5.10 percent during the week ending May 26, according to a weekly survey of lenders by Freddie Mac.

Top of Form

Bottom of Form

That’s the most dramatic two-week drop in rates in Freddie Mac’s survey since April 2020, when the beginning of the pandemic turned the economy on its head.

Mortgage rates retreat from 2022 peak

Weekly average mortgage rates as of May 26, 2022. Source: Freddie Mac.

Freddie Mac’s survey is based on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. Borrowers with less than perfect credit, or making smaller down payments, are typically offered higher rates.

Investors seeking safety from Tuesday’s stock market sell-off bought bonds and mortgage-backed securities, pushing yields down this week. But Freddie Mac’s survey mostly reflects rates offered Monday through Wednesday.

Rates were climbing again Thursday as investors digested news that the economy contracted in the first quarter, and minutes from the Federal Reserve’s last meeting, which suggested that the Fed is committed to gradual tightening of monetary policy, Reuters reports. After dipping as low as 2.71 percent on Wednesday, yields on 10-year Treasurys — often a good indicator of where mortgage rates are headed next — were climbing toward 2.78 percent in afternoon trading Thursday.

“Despite the recent moderation in rates, the housing market has clearly slowed, and the deceleration is spreading to other segments of the economy, such as consumer spending on durable goods,” Freddie Mac Chief Economist Sam Khater said in a statement.

The drop in mortgage rates comes just as the red hot housing market was showing signs of undergoing a shift, with sales of new homes charting a two-year low this week, dropping 16.6 percent month-over-month and marking the fourth straight month of declines. Existing homes, meanwhile, have charted sales declines for three consecutive months, a period that saw mortgage rates rise 2.4 percent.

The decline should be welcome news for homebuyers and the housing market, experts said, and could help prevent homebuilders from pulling back and exacerbating the existing housing shortage.

“Mortgage rates leveling off is a lifeline for prospective homebuyers already dealing with inflation and record-high listing prices, and welcome news for the housing market at large,” Realtor.com senior economist research analyst Joel Berner said in a statement. “The current slowdown in the market, while increasing the number of homes for sale, may actually exacerbate the existing overall housing shortage in the long term, if the news causes builders to pull back…Dark and stormy is the current mood, but a period of steadier rates below recent highs will give buyers, sellers, and builders alike the time to adjust to the new financial environment.”

While the drop is the most dramatic in years, rates are still significantly higher than they were in 2021, sitting at just 2.95 percent a year ago.

Berner noted that a monthly payment on a $300,000 home is still $372 more expensive than it would have been a year ago, and that with housing prices shooting up dramatically over the last year, $300,000 in today’s market gets you a lot less than it did last year.

So far lower mortgage rates don’t appear to have sparked homebuyer interest, according to a weekly Mortgage Bankers Association survey which showed demand for purchase loans was virtually unchanged last week from the week before, and down 16 percent from a year ago.

Editor’s note: This story has been updated to clarify that Freddie Mac’s rate survey is weekly, and largely reflects rates offered by lenders Monday through Wednesday.

Home Cooking • May 26, 2022

Grilling Up For Summer

by Stephanie K. Chan

Grilled vegetables on a modern gas grill outdoors

Nothing says summer like the smell of barbeque in the air. And there’s nothing better than a backyard gathering of friends and family while the hamburgers, brats and ribs are smoking away. Grilling has become both a favorite pastime and a lifestyle for many, and with so many heating and fuel source options, it’s easy to see why.

As you plan for your next backyard gathering, here are three of the most popular types of grills you might want to consider.

Charcoal Grills

A longtime favorite, charcoal grills are easy to use, deliver a rich, smoky flavor and are typically less expensive. Many barbecue grill masters swear by them and won’t grill any other way. Charcoal grills can reach high temperatures and give your food a distinct flavor. This is also beneficial when cooking tougher cuts of meat for extended periods of time – allowing them to break down into tender meat with extremely pronounced flavors.

Pellet Grills

These are fast becoming one of the most popular methods of grilling. Most appealing is that they act as both a smoker and grill, which is ideal for many people. Fueled by wood pellets and easily adjusted electronically, pellet grills are super convenient, especially when cooking things like brisket, ribs and large roasts – allowing that you let the meat cook without much monitoring.

Gas and Propane

This type of grill operates with burners that fire on three, four or more burners to cook your food from below with either direct or indirect heat. Gas grills require the shortest amount of heating before you start grilling, making them one of the more popular options. With several sizes and styles to choose from, gas and propane grills are easy to use and cook food quickly, which makes them perfect for large barbeque parties.

Whatever type or method you prefer, you’ll have no shortage of backyard fun this summer. Grilling is a great way to create lasting summer memories while enjoying a perfectly cooked, juicy burger with your favorite people.

Home Fun • May 25, 2022

Five Tips for an Awesome Outdoor Movie Night

by Stephanie K. Chan

Friends making movie night at back yard

There’s something magical about watching a movie on a warm summer night under the stars with friends. If you’re not close to one of the few drive-in theaters still in existence, no worries – you can easily transform your backyard into an outdoor home theater. Here are five tips for turning your backyard into a pop-up movie theater.

Projector and Screen

If you want to capture the essence of the drive-in theater, there’s no substitute for a good projector. An outdoor projector should be at least 1,200 lumens, a measurement of how much light a device emits. Another must-have feature are HDMI ports, so you can connect items such as Blu-ray DVD players. If you don’t want to invest in a projector, bring your TV and DVD player outside.

Comfy Seating

Provide your guests with a range of comfortable seating options, including patio furniture, lounge chairs, blankets and outdoor pillows. Of if you have a pool, even better. Host a raft-up party and invite guests to bring their own pool float to relax on while the movie plays.

Snackage

Step up your game by creating a popcorn bar for guests. Fill small decorative bags with popcorn and offer an assortment of candy treats, marshmallows and other sweet mix-ins. And, of course, a movie night wouldn’t be complete without offering some classic movie-theater candy like Raisinets, Jujubes and the perennial favorite – Junior Mints!

Soft Lights

While your yard needs to be dark enough to see the movie, you also will need a little light so guests don’t trip over each other on the way to the snack bar. String lights and luminaries are a nice inexpensive option, casting a glow over your yard without distracting from the movie.

De-bugging

Spray the backyard before guests arrive, or, if your backyard isn’t generally buggy, offer them insect repellent. There is quite an array of natural bug-repelling options available to keep the swatting to a minimum.

Hosting a backyard film fest isn’t as challenging as you might think. With just a little planning ahead and some creativity, you can bring the drive-in movie theater experience to your backyard… possibly even better.

Other • May 24, 2022

Turn Your Home Into A Relaxing Oasis

by Stephanie K. Chan

Modern and comfortable bathroom, Bath tub with wooden table and toiletries, Salt, Herb, Bath Bomb.

If you want a relaxing sanctuary to luxuriate in every day, it can be found as near as your bathroom door. Follow these do-it-yourself tips to convert your primary bathroom into a spa-like retreat, and your relaxed body, mind and soul will be glad you did.

Give a Jacuzzi Tub a Whirl

To transform your bathroom into a home spa, install a modern soaking tub for a total immersion in the therapeutic benefits of bubbling water. If a do-it-yourself bathroom remodel isn’t in the offing, convert your tub into a hydrotherapy whirlpool with equipment that fits over the side to whip your water into a healing frenzy. There’s also the simple fix of installing a spa-like massage showerhead that melds relaxation with hygiene to make you feel and smell good all over. When you’re done, finish the spa experience with a warm wiping, courtesy of you freestanding electric towel warmer.

Speaking of Smelling Good

Scent contributes to the mood you are in, so make sure aromatherapy is part of your bathroom spa experience. Hang eucalyptus from your shower head for a refreshing scent. Place reed diffusers on your bathroom countertop. Or finish up a hard day’s work with a treat for the senses by adding aromatic essential oils to Epsom salts for an in-home mineral bath.

Make It Music to the Ears

Spa music should transport you to a Zen-like place of peace and tranquility, and good choices are acoustic tunes and the sounds of nature. Or, go Simon and Garfunkel with your own “Sounds of Silence” smartphone playlist and listen to it through waterproof Bluetooth speakers while relaxing in the tub.

With a sprinkling of ingenuity and a smattering of inspiration, you can easily convert your primary bathroom into a modern-day spa worthy of the ancient Romans!

Oahu Housing Statistics • May 23, 2022

Oʻahu Home Sales Dip, Condominium Sales See Modest Increase

by Stephanie K. Chan

April 2022 Oahu Housing Statistics

Single-family home and condo prices drop slightly from last month to $1,105,000 and $510,000

Year-over-year sales changed modestly from April 2021, with single-family home sales falling 2.7% and condo sales rising 4.2%. Single-family homes and condos marked a double-digit increase in the median sales price, with single-family homes recording a median of $1,105,000 in April, a 19.1% jump from the previous year, and the condo market reached $510,000, a 13.3% bump year-over-year.

Single-family homes in the $1,000,000 to $1,399,999 range saw the largest increase in sales volume, up 46%, while homes in the $700,000 to $999,999 price range made up approximately one-third of April’s sales, despite seeing a 26% drop year-over-year. The Ewa Plain accounted for the bulk of sales in both pri

ce ranges.

In the condo market, sales in the $700,000 to 999,999 range doubled from a year ago, up 101.6%. Condos sold in the $1,000,000 to $1,999,999 range saw the next highest gain, up 54.8%. The Metro region accounted for 60% of sales in April and the largest increase in volume, up 16.5% year-over-year. The Waipahu and Ewa Plain regions saw the most significant decline in sales, down 46.7% and 20.0%, respectively.

“As interest rates rise and financing becomes costlier, we saw pending sales begin to slow and a slight dip in month-to-month median prices in April,” said Chad Takesue, president of the Honolulu Board of REALTORS^®. “Still, high demand and low inventory continue to drive competition and put upwards pressure on sales prices.”