Kahiwelo at Makakilo is a residential hillside community close to Kapolei and its abundant restaurants, shops, beaches, and schools. There are quite a few homes in this new construction community that have either just been finished or are scheduled to be completed this month. Some of the early builds are coming on the market as re-sales now as well, ready for second owners. D.R. Horton, the developer for these homes, is currently offering a special incentive for active duty military personnel - up to $10,000 toward closing costs on new homes in Kahiwelo at Makakilo.
This community is very popular, and home prices have been increasing in keeping with the local market since the original houses here were built. In the past six months, there have been two re-sale transactions completed. The homes sold for $39,100 more and $127,800 more than the original purchase prices, from two and six years ago, respectively.
There are eight brand new homes currently listed for sale, and six re-sales. The re-sales are listed for an average of $105,743 over their original sale prices, over an average of 4.6 years since they were first purchased. 92-736 Kuhoho Place, Makakilo, HI 96707 (MLS# 201604336)
Clearly, these homes are highly desired, and it’s not difficult to see why. The new construction homes come standard with a solar water heater, two-car garage, GE appliances, Maxim lighting, Moen plumbing fixtures, ground termite warranty, a ten year limited warranty, central A/C, Corian countertops, pantry, walk-in closet in master suite, dual vanity sinks in master bath, ceramic tile shower surrounds, and nine foot ceilings on the first floor.
Popular upgrades include stainless appliances, dishwasher, microwave, granite countertops, and hardwood or tile flooring. Even considering the prices of upgrades and personalized touches in a new home, it seems the re-sale prices compensate owners for these extras, and leave some additional profit as well.
92-865 Welo St #Subdiv lot 339, Kapolei 96707 (MLS# 201604780)
Makakilo is a convenient area of the island to call home, especially with all of the recent development and growth in Kapolei. My recent Makakilo blog highlights some of the best beaches, shopping, and restaurants in the area as well as some of the available housing options, including Kahiwelo - great information if you're considering moving to this area.
A Few Things to Remember
When you visit Kahiwelo or any new construction community, be sure to state up front that you’re working with a Realtor. Bringing in representation after your first visit is challenging, and you always want to have buyer representation in any transaction.
Keep in mind that the offer for up to $10,000 off of closing costs is only applicable when you fund and close through DHI Mortgage Company Ltd. (an affiliate of D.R. Horton), or one of D.R. Horton’s “Preferred Lenders.” The deal may only be used on new contracts and buyers must present a valid military ID at the time of contract execution.
Also consider that the maximum VA loan amount for Oahu is $721,050 (with no down payment) and some of these homes are listed at or above that amount, but with a small down payment you can still use a VA loan. There are noteworthy benefits to using a VA loan over a conventional loan - no required mortgage insurance, reduced closing costs, qualifying guidelines that favor veterans, and simple refinancing, to name a few.
Want to Know More?
I would be happy to chat with you about these lovely homes in Kahiwelo at Makakilo! With Hawaii Life’s new office in Ewa Beach, it would be quick and easy to meet up and then go tour some of these properties. Come explore what your Hawaii life could look like in Kahiwelo at Makakilo!