Neal Hafner, SIOR, CCIM

Colliers International | Hawaii | Investment, Healthcare & Office Services

[Neal Hafner, SIOR, CCIM @NealHafner]

My team represented Brookfield Properties in securing Coldwell Banker Pacific Properties as a long term tenant at Ala Moana Pacific Center. The tenant leased 8,398 SF of office space and we look forward to a great tenancy ahead.

https://t.co/GBSJNHOdhs

[Neal Hafner, SIOR, CCIM @NealHafner]

Multifamily volume of $7.1 billion is similar to 2013 levels. This asset class accounted for more than 40% of all volume in 2021 and 2022 but has reverted to more normalized, pre-pandemic levels of 34%.

[Neal Hafner, SIOR, CCIM @NealHafner]

Aloha Friday Multifamily Fun Facts:
- Median Age of multifamily properties in Hawaii: 1966
- Percentage of multifamily properties built since 1980: 16.5%
- Percentage of multifamily properties built since 2000: 8%
- Percentage of multifamily properties built since 2010: 2.5%

[Neal Hafner, SIOR, CCIM @NealHafner]

The combined asset value of First Republic Bank, Silicon Valley Bank, and Signature Bank is higher than the combined bank failures from 2008-2009

https://t.co/AcgEzbENa9

[Neal Hafner, SIOR, CCIM @NealHafner]

Honolulu officials are considering raising property taxes on homes that have been left vacant by their owners. The report cites approximately 34,253 empty housing units in Honolulu.

What are your thoughts on this measure?

https://t.co/yp2R1w1tz9

[Neal Hafner, SIOR, CCIM @NealHafner]

Better Life REI Summit in Maui last week. Top 3 key takeaways:
1) Learn to SCALE: 𝐒tart small, 𝐂rystal clear criteria, 𝐀ccountability, 𝐋et everyone know, 𝐄xecute
2) Everyone needs an AND to succeed...."Be an investor AND a great husband"
3) Create an iron tight "buy" box

[Neal Hafner, SIOR, CCIM @NealHafner]

Aloha Friday Multifamily Fun Facts:
- Number of multifamily sales (4-50 units) in last 90 days = 13
- Submarkets with highest number of sales
- Waipahu: 2 Sales
- Moilili: 2 Sales
- Makiki: 2 Sales
- Nuuanu: 2 Sales

#cre #multifamilyrealestate #multifamilyinvestor #

[Neal Hafner, SIOR, CCIM @NealHafner]

Multifamily transaction volume was down across many markets in Q1 2023. Some silver lining with sales volume being up 60% month over month for April. Despite the headlines, default rates are still very low.

[Neal Hafner, SIOR, CCIM @NealHafner]

I'm a multifamily commercial broker in Hawaii. However, I'm personally priced out of the Hawaii market. Last week, I closed on my first multifamily property in Michigan.

If you want to start investing, the quickest path might be to look out of state.

[Neal Hafner, SIOR, CCIM @NealHafner]

Aloha Friday Multifamily Fun Facts:
- Q1 2023 Total Sales (4-50 units) = 13
- Properties with 4-9 units = 7
- Properties with 10 - 19 units = 4
- Properties with 20 - 50 units = 2
- Submarket with largest number of sales = Waipahu

[Neal Hafner, SIOR, CCIM @NealHafner]

Alert! Act 310, which became law on May 1, prohibits discrimination, including in advertisements for available real property, against prospective or current tenants based on participation in a Permanent Supportive Housing programs or any Section 8 Housing Choice Voucher program

[Neal Hafner, SIOR, CCIM @NealHafner]

Since my last newsletter, four “new“ multifamily listing came to the market, four “back on market” properties were listed with price adjustments, three properties went into contract, and four properties sold.

https://t.co/EmyhxeJaCU

[Neal Hafner, SIOR, CCIM @NealHafner]

Aloha Friday Multifamily Fun Facts (Honolulu):
- Q1 2023 Studio Market Rent: $1,582/month (6% increase from Q1 2022)
- Q1 2023 One Bedroom Market Rent: $2,099/month (12.8% increase from Q1 2022)
- Q1 2023 Two Bedroom Market Rent: $2,467/month (4% increase from Q1 2022)

[Neal Hafner, SIOR, CCIM @NealHafner]

"The office market continues to struggle, but the hope is that office building conversions will lead to more favorable conditions and a soft landing for the office sector" - Neal Hafner

https://t.co/x8mLEERyVk

[Neal Hafner, SIOR, CCIM @NealHafner]

Investment volume is down 58% from last year, hitting the lowest number since 2013 Q1. Nationally, Multifamily has faces the largest price drop. However, this continues to be market specific. In Hawaii, volume has decreased but very little to no change in pricing.

[Neal Hafner, SIOR, CCIM @NealHafner]

The Mortgage Bankers Association estimates $4.47 trillion of commercial real estate loans on lenders books with roughly 60% of these loans due by 2027. Multifamily has the largest share of maturities over this period, topping $1 trillion.

[Neal Hafner, SIOR, CCIM @NealHafner]

Aloha Friday Multifamily Fun Facts (Honolulu):
- Studio: $1,582/month (3% increase from Q4 2022 and 6% increase from Q1 2022)
- One Bedroom: $1,791/month (0% from Q4 2022 and 17% increase from Q1 2022)
- Two Bedroom: $2,179/month (0% from Q4 2022 and 8% increase from Q1 2022)

[Neal Hafner, SIOR, CCIM @NealHafner]

I like graphs that provide historical perspective. There has been a lot of doom and gloom in the media as of late.

#cre #multifamilyrealestate #multifamilyinvestor #hawaiirealestate #colliersinternational #multifamilyadvisor #luckywelivehawaii #ccim #sior #commercialrealestate

[Neal Hafner, SIOR, CCIM @NealHafner]

The University of Hawaii at Manoa has been given the green light to begin building a student housing project. The project is estimated to cost $156.9 million, and is a public-private partnership with Greystar Real Estate Partners.
https://t.co/dWJM9r7W3A

[Neal Hafner, SIOR, CCIM @NealHafner]

Aloha Friday Multifamily Fun Facts:
- Q1 2022: Number of multifamily sales (4-50 units) = 33
- Q1 2023: Number of multifamily sales (4-50 units) = 14

This reflects a 67% decrease in the number of transactions...

#cre #multifamilyrealestate #multifamilyinvestor