Sales Activity (updated March 2011)
Colony Surf sales have been traced from January 2000 -- the data represents the actual selling price, not listing prices. Data has been consolidated from searches of the City and County of Honolulu's Real Property Assessment and Tax Billing Information and Honolulu MLS web sites. Information is assumed accurate with the following disclaimer:
"ColonySurf.net makes every possible effort to publish current and accurate information. No warranties, expressed or implied, are provided for the data and opinions herein, their use, or their interpretation. Utilization of this data indicates a user's understanding and acceptance of this statement."
Grouping Data by Ocean Views
Colony Surf units have been divided into four groups based on view. Since units are identical floor to floor, a unit's ocean view represents the main variance in price.
Note: Prices are reported by cost per square foot to equalize unit prices.
- Consolidated Whole-Building Data
- Oceanfront (76 units)
- Oceanview Floors 1-3 (15 units)
- Oceanview Floors 4-10 (35 units)
- Oceanview Floors 11-Penthouse (45 units)
To a lesser extent condition of the unit also plays a factor. Not knowing the condition of each unit at the time of sale, these numbers reflect an average. If I had to guess, I would say over time the ratio of renovated to unrenovated units has risen. I attribute this to the Colony Surf Hotel units (unrenovated) having worked their way through the system. If views are equal, the renovated unit will obviously cost more.
And as always, one buyer's trash is another seller's treasure. Just because a unit has been renovated doesn't mean anyone else will like it.
A note to potential buyers and users:
This data is only an indication of historic sales activity and as such is only part of the due diligence required in purchasing a home. Because there are only 171 units in the building, time may pass before units of a certain type come on the market. Generalizations can be made but because of such a small sample size, micro-trends are not statistically valid.
Colonysurf.net provides no guarantees of future performance and takes no responsibility for actions taken based on this information. After all, hindsight is 20/20, not foresight!