One of Oahu’s most established neighborhoods, Manoa’s high percentage of owner occupants, proximity to numerous schools like the University of Hawaii and Punahou and cooler climate keeps it among the more desirable places to live. A finite housing supply, convenient location, and charming houses in lush surroundings means demand for homes in Manoa rarely wanes. Homes move fairly quickly here, and as Prudential Locations Realtor and Partner Michael Koyama points out, in 2007, 19 sales in Manoa went into escrow in 20 days or less. It’s common for buyers to look for older homes with lots of character that can be remodeled, as they often love the location but want to upgrade the house.

Koyama says Manoa will likely mirror the overall market in 2008, with fewer sales and some possible price softening.