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Thursday, September 23, 2010

This Space Reserved: $30K for a Parking Space in Hawaii Kai

This Space Reserved: $30K for a Parking Space in Hawaii Kai

Live in Hawaii Kai's Colony at the Peninsula and need an extra parking space? This standalone stall could be yours for about $30,000.

Sure, we all know that parking in this city is a hot commodity, but a nearly $30,000 commodity? Apparently. Standalone stall No. 235 at Hawaii Kai’s The Colony at the Peninsula is currently listed for $29,500 by listing agent/owner Philip McCaffray, who is looking to offload the extra space. While the stall is only available to other Colony owners, McCaffray says it’s not as challenging to market as one might think. “In this particular garage, the majority of the parking stalls are tandem, meaning they’re front to back,” he says. “So you can imagine a husband and wife trying to jockey cars all the time. This is a freestanding stall, so if you have more than one person living in the unit and one or two cars, it’s a lot more convenient.”

Bottom line, says McCaffray, is parking adds to the marketability and convenience of a unit, making it all the more tempting to prospective buyers when you go to sell. Four years ago, the developer set the price of one-car stalls in the Colony at $25,000, so a $4,500 increase doesn’t seem all that unrealistic.

Money talk: The No. 235 stall at the Colony at the Peninsula is listed for $29,500 fee simple.

Contact: Philip McCaffray, Coldwell Banker Pacific Properties. 282-4264,


Posted on Thursday, September 23, 2010 in Permalink

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Honolulu Real Estate focuses on the Hawaii housing market, condos and homes for sale, Hawaii rentals and general news about real estate in Hawaii. It also includes stories on apartment living, home decor and profiles.

Melissa Chang graduated from the University of Hawaii with a degree in journalism and has been blogging since 2007, mostly on food and travel. She works primarily in social media, so you can find her online @Melissa808 on Twitter and Instagram.


Jaymes Song is a real estate agent at Prudential Advantage Realty in Kahala. Jaymes is in the top 7 percent of Prudential agents nationwide. Previously, Jaymes was at The Orange County Register, Honolulu Star-Bulletin and rose through the ranks to overseeing news and operations for AP in Hawaii and the Pacific Rim. Jaymes lives in the Portlock area and loves his real full-time job of being dad to two curious kids.

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