April Points-of-Interest

Aloha Owners,

I hope you all had a Blessed Happy Easter! The spring is upon us and Trinity has sprung into action to become a lean, mean, economy-defying machine.

STAFFING CHANGES:
We want to take a moment to wish a fond farewell to Cynthia Bostick, Reservations, who's last day was April 1. Cynthia's role is being temporarily filled by myself, Carissa Leonida. And we'd also like to extend a warm welcome to Meredith Kwock, who has officially taken on the role of Administrative Assistant.

SHORT TERM RENTALS:
Summer interest is peaking and requests are starting to trickle in for the Christmas/New Year holiday as well. Month long requests have seen an increase with the typical request is $15K - $25K/month, Diamond Head, 4 bedrooms, pool, oceanfront. Weekly requests are also increasing with a typical request of $550-650/nt, 4-5 bedrooms, beachfront, Kailua/Lanikai, pool, a/c. Competition is downright fierce. For example, just 2 week ago I saw a competitor slash their rate on a decent 4 bedroom, Lanikai beachfront home to a mere $10K for the month of May, which included all tax and fees. As such, we will continue to present you any and all offers on your home(s) and ask you to keep an open mind, even though the offers may seem low.

LONG TERM RENTALS:
This past month we received notice from multiple high-end, long term tenants who need to either default on their rent or are not planning on renewing due to the economic environment. We will be trying to place these tenants, who have otherwise been excellent renters, into our more affordable accomodations. Those furnished LT homes that are being vacated will be rented ST through the summer and most have already secured ST summer tenants. We have also been fielding a high volume of long term requests. The typical request is for 3-4 bedroom, single family home, $3500/month, and is usually from a family with young children. Homes over $5K/month are sitting vacant longer and may need an adjustment on the rental rate to bring it more in line with today's market.

PROPERTY MANAGEMENT:
The demand for property management has hit an all-time high and we foresee that it will continue to trend upward. These high end homes are looking to rent both Long and Short Term and are in the areas of Lanikai, Kailua, and Hawaii Kai. All are beachfront or offer a sweeping ocean panorama. We are continuing to carefully screen all property management inquiries to ensure that we are able to keep our occupancy rates up for all of our owners.

SALES:
Congratulations to Annie Kwock, R and Chris Mercer, RA who will be co-listing Hale O Keniki at $1.725M. This is an excellent offering in the glut of homes sitting stagnant on the market, as it is one of the lowest priced per sq ft in the Kailua Beachside neighborhood.

Current market stats at a glance (deemed reliable but not guaranteed):
Kailua Beachside Active Listings: 22
Median Days on Market: 83
Median Price: $2.15M

Lanikai Active Listings: 30
Median Days on Market: 77
Median Price: $2.449M

DH Diamond Head Neighborhood Active Listings: 38
Median Days on Market: 98
Median Price: $3.6M

Kahala Kahala Neighborhood Active Listings: 39
Median Days on Market: 85
Median Price: $2.95M

For a full market analysis on your home, please contact Annie Kwock, R (annie@trinityproperties.com 808-780-4444).

Warm Regards,
Carissa Leonida
Director of Operations
Trinity Properties LLC
Sales, Rentals, and Property Management
Toll Free (888) 939-0444
Office (808) 247-7521
Direct (808) 673-6800
mailto:carissa.leonida@trinityproperties.com
http://www.trinityproperties.com/