Click here for Elite’s Edition of Luxury Home Magazine’s 11.1 Issue: http://www.pacificluxuryliving.com/DigitalEdition/11.1Elite/. The next issue is in production now so be sure to check it out soon!
Why did Elite Pacific Properties form a commercial unit? “As the largest luxury brokerage in Hawaii by sales volume, many of Elite’s clients are investors and entrepreneurs, who have commercial needs as well as residential. We definitely saw an uptick in commercial needs from our clients last year. Enhancing our business model to include a commercial division was a natural progression for Elite”
What trends are you noticing in your industry? “We’ve seen an increase in gross asking rents during the fourth of 2015, and into the first quarter of 2016. Very little inventory in core tourism areas push local retailers and businesses into the outskirts, thereby increasing rents in outlying tourist destinations areas such as Kailua, Hawaii Kai and Kaimuki.”
What bills are you tracking at the Legislature? “There are several that we take special interest in for commercial real estate that have the capacity to impact our local economy in both positive and negative aspects. One that comes to mind for commercial is Senate Bill 118, relating to the impact of real estate investment trusts and foreign investment taxation.”
What are some of the biggest expenses you’re seeing this year? “Roofing, insurance and real property tax are some of the larger expenditures and have heavy impacts. However, the cost of labor from service providers has substantially increased over the last six months. This is largely due to insurance premium increases, and higher wages needed to lure experienced employees due to the low unemployment rate. This produced an increase higher than the 3.5 percent to 4 percent step-up usually seen in our industry.”
Please be sure to check out this article and more from PBN here!
For all of our agents, clients and contacts, we will now begin posting Elite Pacific’s portion of advertisements from Luxury Home Magazine. Elite takes pride in continually dominating this publication with all of our amazing listings and participation from our agents and division support.
Feel free to share this link to anyone who has yet to pick up a hard copy of the magazine and stay tuned for the next issue!
The lure of new tech is strong, especially with the advent of the Apple Watch where it’s so much easier to stay connected with everything that you have going on. However, for real estate agents who rely on building close personal relationships with current and potential clients, these constant connections and notifications can get in the way of good old fashioned networking. Our agent, Greg Burns, shares his own experiences and tips for any new Apple Watch user and how best to keep your connections to yourself.
Read the full article on Inman.com »
Written by Jessica Hall of the Duryea Group.
Elite Pacific Properties and Ten-X are proud to announce a one-time sales event featuring the Green Market and Café in Honokaa, Hawaii on the Big Island. On Monday March 7th a sales auction will commence and run for 48 hours on an exclusive online auction. This unique opportunity to purchase the innovatively designed Green Market and Café building comes after a meeting of the minds between two cutting edge real estate firms, Elite Pacific Properties, LLC and Ten-X.
The elegant and sustainable Green Market and Café in Honokaa, Hawaii [Read more…]
This holiday season, Elite’s own Greg Burns (middle below) matched RAM donations for the Maui Food Bank up to $3000. RAM’s REALTOR® members contributed a grand total of $7430.32, which can provide over 29,000 meals for the hungry in our community. A big MAHALO to Greg Burns and everyone who helped to make RAM’s drive for the Maui Food Bank a merry success!
We are excited to welcome Riette Jenkins to the Elite Pacific Properties Ohana as our new Maui Partner. Riette’s strong sense of leadership, extensive experience, and outstanding reputation make us proud to have her as a Partner specializing in the Wailea and Makena areas of Maui. Riette has been a Broker-Realtor on Maui since 1988 and has consistently ranked among Hawaii’s top agents in multi-million dollar sales. She also has served as the President of the Realtors Association of Maui from 2013 – 2014. We are looking forward to her contributions to the Elite Pacific team.
Mahalo to Honolulu Magazine for featuring our partner Mary Lavoie-Olson’s Kai Nani listing in Melissa Chang’s real estate blog. We loved the insights (and reader comments). Check out the full report and marvel at the gorgeous photography.
We are excited to be apart of the new Brookfield Residential Hawaii development project taking place in Kailua-Kona. Construction begins next month on the 40-home development on the Big Island with home prices ranging from $800,000 to $1.7 million. This includes the gated subdivision, called Holua Kai at Keauhou. Elite Pacific Properties is the co-listor on the project and will open an onsite Big Island office very soon!
One of Elite’s top performing broker’s, Joel Cavasso, has recently been highlighted in Honolulu Magazine’s Open House Pick of the Week. His listing at 103 Kaiolena in Kailua is not only spacious and gorgeously furnished, but also has a history of previous celebrity home owners under it’s belt. With numerous amenities and a great location right across the street from Lanikai Beach, this note-worthy home deserves lots of attention.
For more details and mouth-watering photos, check out the article from Honolulu Magazine here.