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SINGLE FAMILY RESIDENCE 2012 Median Price 2013 Median Price Median Price % CHANGE 2012 Median Price 2013 Median Price Median Price % CHANGE Aina Haina - Kuliouou $889,058 $950,000 7% $492,500 $640,000 30% Ala Moana - Kakaako $799,900 $607,500 -24% $351,550 $387,000 10% Downtown - Nuuanu $750,000 $760,150 1% $372,500 $447,000 20% Ewa Plain $459,000 $515,000 12% $315,000 $330,000 5% Hawaii Kai $880,000 $987,000 12% $523,000 $567,000 8% Kailua - Waimanalo $782,500 $875,000 12% $407,000 $438,000 8% Kalihi - Palama $560,000 $550,000 -2% $316,000 $367,500 16% %3 000,224$ 005,904$ %3 000,096$ 000,076$ ehoenaK Kapahulu - Diamond Head $778,000 $826,956 6% $470,000 $514,000 9% Makaha - Nanakuli $311,250 $328,000 5% $90,000 $101,250 13% %4 000,952$ 000,052$ %0 000,565$ 000,565$ olikakaM Makiki - Moiliili $910,500 $970,000 7% $302,000 $320,000 6% 005,226$ 005,895$ inaliliM 4% $286,000 $298,250 4% Moanalua - Salt Lake $700,000 $760,000 9% $273,500 $295,000 8% North Shore $694,000 $663,500 -4% $295,000 $382,500 30% Pearl City - Aiea $576,000 $597,500 4% $270,000 $285,000 6% %92 000,541$ 005,211$ %6 000,514$ 000,093$ awaihaW Waialae - Kahala $1,382,000 $1,565,000 13% $410,850 $438,000 7% 000,131$ 000,538$ ikikiaW -84% $355,000 $329,000 -7% %6 000,072$ 005,552$ %9 000,035$ 000,584$ uhapiaW Windward Coast $460,000 $584,000 27% $185,000 $192,500 4% OAHU SUMMARY $620,000 $639,000 3.10% $312,000 $331,000 17.20% CONDOMINIUM SINGLE FAMILY RESIDENCE 2012 Median Price 2013 Median Price Median Price % CHANGE 2012 Median Price 2013 Median Price Median Price % CHANGE %3.11 000,543$ 000,013$ aemiaW $252,800 $250,000 -1.1% %7.6 000,935$ 000,505$ aoloK $336,000 $485,000 44.3% %6.41 000,004$ 000,943$ euhiL $127,400 $163,000 27.9% Kawaihau $354,375 $440,000 24.2% $130,000 $182,000 40.0% 8- 000,548$ 000,629$ ielanaH .7% $419,000 $487,000 16.2% KAUAI SUMMARY $435,000 $520,000 19.50% $290,000 $313,945 8.30% CONDOMINIUM Year to Date Median Sales Prices By Island As of August 2013 “Like Kind” - A Commonly Misunderstood Term In a tax-deferred exchange, under Internal Revenue Code Section 1031, an owner can defer capital gain taxes by exchanging property held for investment or used for productive use in a trade or business for other property that will also be held by them for investment purposes or for productive use in a trade or business. Any type of real property – except for a person’s primary residence – can qualify for a tax-deferred exchange. Although the rules for exchanges require that the property sold and the property acquired are “like kind” to one another, it is important to understand that “like kind” does not mean that the property sold and the property acquired must share the same physical characteristics. In other words, an apartment building need not be exchanged for another apartment building. It can be exchanged for raw land; a farm; a duplex; retail property; industrial property; a perpetual conservation easement; a leasehold of 30 years or more, etc. Instead, “like kind” simply refers to the requirement that property “held for investment or for productive use in a trade or business” must be exchanged for other property that is also “held for investment or for productive use in a trade or business”. (continue on page 54) Ashley Seeger | Business Development | 808.222.3021 | aseeger@ortc.com Julia Jones | Business Development | 808.286.0057 | juliaj@ortc.com Catherine Pennell | Account Executive | 808.285.4593 | cpennell@ortc.com KAUAI Kelly Veniegas | Account Executive | 808.224.5355 | kveniegas@ortc.com Sonja Gonzaga | Account Executive | 808.499.4355 | sgonzaga@ortc.com OAHU Julie Tumbaga, VP Hawaii Regional Manager 900 Fort Street Mall, Suite 1900 Honolulu, Hawaii 96813 (808) 524-6737 (877) 591-1031 Toll Free Jtumbaga@orexco1031.com www.orexco1031.com www.ortc.com Our Promise "We increase the value of real estate transactions for all participants by identifying, underwriting and managing each transaction with the highest standards of technical skill, client service and professional integrity" to Date Median Sales Prices By Island 3 I . rtc.com ro ise e l t a sa ip by g n r r n c t i h st ic il , i a o s