A mecca for relocating mainlanders seeking life in paradise, this Windward Oahu neighborhood is conveniently situated near world-renowned beaches and in close proximity to downtown Honolulu, about a 20-minute drive over the scenic Koolau Mountains.

One of Oahu’s most sought-after neighborhoods, Kailua has distinct areas of luxury estates, mostly near Lanikai and Kailua Beach. Some of Oahu’s most expensive homes are beachfront Kailua, and prices throughout Kailua are continuing to remain stable and rise slightly thanks to the growing cache of the neighborhood. Over the last few years, home sales in most Kailua neighborhoods have held steady, with prices slowly appreciating to a median of $820,000 in 2007.

In 2008, Kailua will be one of the few places that might see slight increases. Prudential Locations Partner and Realtor, Mary Robb points to the very low inventory in Kailua as just one sign of the strength of Kailua’s housing market. New wine bars, boutiques and amenities are adding a growing sophistication to this once sleepy beach town. Robb says even sellers who purchased their homes in the early days of the hot market days will likely be able to realize a profit if they decide to sell this year.

As for prices, Robb sees very stable pricing with no significant movement from current prices in any of the price segments. She doesn’t expect Kailua to experience price declines – the days of waiting for prices to fall in Kailua are over. But she calls 2008 a “market of opportunity” for buyers because the speculative market and days of flipping properties are gone for awhile. Those looking for a place to live can buy and be confident their home will continue to maintain its current value and experience an increase in future years.