The Mitchell Group Real Estate - January 2023

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GIVING BACK AND PAYING IT FORWARD WITH HOMEAID HAWAII A Year of Charity

On Dec. 31, we all raised our glasses and toasted the new year with anticipation, excitement, and hope. Once the clock struck midnight and the ball dropped, all that took place in 2022 was placed in the past — everything that we did or didn’t do didn’t seem to matter as much. Instead, our eyes were open wide to the new year laid out ahead of us! What dreams can we turn into a reality, what adventures can we embark on, and what ideas can we explore?

Of course, with the start of 2023 comes New Year’s resolutions for many and these goals and

the monthly hale

aspirations often symbolize the things that we care about most and where we would like to see ourselves improve. For our family, we always like to focus on making a difference, giving back, and paying It forward.

Hands down, our favorite nonprofit organization is HomeAid Hawaii, a community that works tirelessly to address the reality of homelessness. They are motivated to

HOMEAID HAWAII HAS ASSISTED IN HOUSING OVER 6,500 HOMELESS FAMILIES AND INDIVIDUALS AND HAS RAISED MORE THAN $500,000 IN MATERIALS, PROFESSIONAL LABOR, AND SERVICES TO

JAN 2023

My family loves volunteering with HomeAid Hawaii because it’s something we

assist those who are homeless or at risk of becoming homeless through community engagement,

can do together — all four of us get involved. It’s important to us that our children practice giving back, helping others, and being a small part in a huge idea of community

ATTACK THE REALITY OF HOMELESSNESS.

construction, and education. HomeAid Hawaii builds and renovates shelters and provides those who may be struggling with hygiene kits, work-ready kits, and comfort kits. They have helped to house over 6,500 families and individuals, including teen mothers, victims of domestic violence, veterans, and abused and abandoned children. The charitable actions of HomeAid Hawaii would not be possible without the support of the community. Roughly 50%–85% of the total cost of construction projects for the homeless are funded by service and material donations. In their first four years, they provided more than $500,000 in materials, professional labor, and services to provide roofs over as many heads as possible.

and kindness. Through HomeAid Hawaii, together, we have assisted in completing 36 tiny homes for houseless veterans and nonveterans by building furniture, pulling weeds, hanging art, making beds, washing walls, cleaning floors, and planting trees.

We look forward to all that HomeAid Hawaii will set out to accomplish in the new year and being a part of that mission. Teaming up to give back to our community is a great way to spend the day and always invokes feelings of gratitude for the giving hearts of so many in our community. A connected community truly ends houselessness. -Sachi Mitchell

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PEPSI BRIEFLY CREATED ITS OWN MILITARY LOVE AT FIRST SIP

W E

HOME

In Hawaiian, puuwai piha means to have

Did you know Pepsi had the sixth-largest military for a brief period? One of the biggest soda companies acquired several submarines and other military equipment because one country’s leader loved the cool and refreshing taste of the beverage. But how did this happen? Let’s start from the beginning. In 1959, President Richard Nixon and Soviet Leader Nikita Khrushchev attended the American National Exhibit in Moscow, Russia. As the two conversed, they began debating the benefits of capitalism versus communism. This conversation is now known as the infamous Kitchen Debate. Some reports cite that as the conversation was escalating, the head of Pepsi’s international division, Donald Kendall, offered Khrushchev a cup of Pepsi. It was love at first sip for Khrushchev, and he encouraged his comrades to taste the delicious beverage.

a full heart. As

we mentioned in our cover story,

we are so grateful for the opportunity to work with our favorite nonprofit organization, HomeAid Hawaii, to create homes and opportunities for many individuals. We are excited to share that they have an exciting new project currently in the works: Pu`uhonua O Wai`anae Mauka.

Up until recently, many houseless individuals resided on Hawaii state land at Waianae Small Boat Harbor in tents and shelters made out of sheets and boxes. Roughly 250 of these individuals now have a proper roof over their heads and a place to call home! Pu`uhonua O Wai`anae is a village in upper Waianae Valley that HomeAid Hawaii is currently working on to

When Kendall became Pepsi’s CEO in 1963, his primary focus was to bring the soda to the Soviet Union. But while Khrushchev loved the drink, he had to create a game plan on how he would purchase the beverage and share it with the rest of Russia. At the time, Russian currency wasn’t widely accepted in the Western world, so it didn’t have much value to Americans. But in 1972, Khrushchev came up with a plan: In exchange for Pepsi products, Khrushchev gave the corporation vodka to resell. But after a decade and a half, the Soviet leader had to begin trading something of more value in exchange for the beverage. Pepsi had a surplus of alcohol but no cash or revenue. So, Khrushchev exchanged 17 submarines, a frigate, a cruiser, and a destroyer in 1989 for about $3 billion worth of Pepsi. With all of the military equipment, Pepsi became the sixth-largest military in the world. But Pepsi’s military didn’t last long. They began breaking down the equipment and selling it as scrap metal. Today, Pepsi is all over Russia, but it’s not as popular as it was. Coca- Cola made its way to the country during the

O‘AHU HOME SALES

Mortgage Rates Double by Year-End

O’ahu’s real estate market started the year strong, however the steep rise in interest rates and fluctuation in inventory are shifting the market dynamic. While buyers are trying to figure out how to deal with higher financing costs, they now have more options to choose from and the competition isn’t as fierce. December sales of single-family homes plummeted 46.6%, while condo sales decreased 39.3% year-over-year. The median sales price for single- family homes dipped slightly to $1,049,500, while the median condo price rose to $502,500.

2022 Year-End Stats* The 2022 O‘ahu real estate market was marked by transition. The year began similar to 2021 with intense competition among buyers and mortgage rates still hovering near historic lows. It ended with strong headwinds as the average 30-year interest rate rose from 3.11% to 6.42% by year-end. The year ended with 3,474 single-family homes sold, a 23.2% year-over-year decline, while condo sales also fell by 11.8% with 6,353 sold.

SINGLE-FAMILY MARKET

Moscow Olympic Games in 1980 and took the country by storm.

While Pepsi’s military power was short-lived, the history of Pepsi and Russia’s relationship is fascinating. What do you think of this story? Do you think your favorite sugary beverage is worth trading military equipment for?

Key highlights included: • In the second quarter of 2022, 63% of single-family homes and 44% of condos closed above the original asking price. • In May, the single-family home market set a record median price of $1,153,500; in June, the condo market hit a record median of $534,000.

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THEMITCHELLGROUPHAWAII.COM

EAID HAWAII’S NEW PROJECT IS UNDERWAY! Working to Bring Everyone Home

HAWAIIAN BUTTER MOCHI Recipe from www.FearlessDining.com

house roughly 250 houseless people. They are referred to as “houseless” instead of “homeless” because these prideful individuals say that Hawaii is their home! Over two-thirds of those residing in Pu`uhonua O Wai`anae village are native to Hawaii.

INGREDIENTS • 1 cup sweet white rice flour

• 1 tsp baking powder • 1/2 cup organic sugar • 1 large egg • 1 cup coconut milk or regular milk • 2 tbsp unsalted butter, melted

HomeAid Hawaii purchased the agricultural land with donations to develop this tiny home community to provide permanent and affordable housing for these individuals, ranging from keiki (children) to kupuna (seniors). The tiny homes are constructed in the shape of a triangle, as this shape is an important symbol in Hawaiian culture. The makai ihe (triangles) represent the tip of a spear in Samoan, Maori, and Tahiti cultures and represent both life and death along with the duty of men to provide for their families and to protect them.

DIRECTIONS 1. Preheat oven to 325 F. 2. Combine rice flour, baking powder, and sugar in a medium mixing bowl. Whisk to blend it together. You can also use a stand mixer. 3. Add egg, coconut milk, and melted butter; mix well. 4. Pour into a greased 8x8-inch baking dish. You can line the baking pan with parchment paper instead of greasing the pan. 5. Bake for 25 minutes. Let rest on a cooling rack. 6. Allow the mochi to completely cool before slicing.

HomeAid Hawaii is working to build the future for houseless people and we are proud to be able to donate our time to make a difference!

COOL IN 2022

• Mortgage rates continued to rise through the year, with average rates reaching the 7% range in late October and ending 2022 in the mid-6% range. • In the fourth quarter, the percentage of properties sold above the original asking price had dropped to 29% of single-family home sales and 25% of condo sales.

Are you curious to know what your home is worth in today’s shifting market? Get your free instant value report here: freehawaiihomevalue.com .

$1,049,500

.05%

MEDIAN SINGLE-FAMILY PRICE

TAKE A BREAK COCOA FLEECE FROST GLOVES

202 CLOSED SALES

46.6%

25 DAYS ON MARKET $502, 500

127.3%

14 DAYS SLOWER

HIBERNATION IGLOO LAYERS PENGUIN SCARF SLEDDING TRADITION WONDERLAND

3.6%

MEDIAN CONDO PRICE

CONDO/ TOWNHOUSE MARKET

360 CLOSED SALES

39.3%

21 DAYS ON MARKET

61.5%

8 DAYS SLOWER

Text your answers to Sachi at 808-286-7633. The first person to text with the correct answers gets a $5 Starbucks gift card.

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808.824.4088

PRSRT STD US POSTAGE PAID BOISE, ID PERMIT 411

500 ALA MOANA BLVD SUITE 7-400, HONOLULU HI 96813 808.824.4088 THEMITCHELLGROUPHAWAII.COM

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A Charitable New Year

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Pepsi Had the 6th Largest Military?! Introducing Pu`uhonua O Wai`anae Mauka

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Home sales see double-digit declines!! Hawaiian Butter Mochi Take a Break! 4 Which Plants Are Safe for Your Pet?

MIXING PETS AND PLANTS

During pandemic isolations, many became “plant parents,” as houseplants are often easy to maintain and can benefit mental health. However, many houseplants can cause health issues if ingested by pets. If you’re looking to become a new plant parent or want to add to your existing flora collection, you need to know which are safe for your furry friends. Devil’s ivy, snake plants, Swiss cheese plants, and fiddle leaf figs are known to be toxic to pets. Even some plant families known to be nontoxic have specific poisonous plants within them, such as the sago palm. You must contact your vet If your pet gets a hold of a toxic plant and bites into it, or call the Pet Poison Helpline at (855) 764-7661 as soon as possible. Learn your plants’ scientific names, as this identification will provide others with information to keep your pet safe.

Not all houseplants are toxic to animals, though. You can add many beautiful plants to brighten up your living space without worrying about pets eating them and getting ill. A spider plant is one of the best options: You can hang these so they’ll be out of reach of your dogs and most cats. Even if they manage to nibble on it, they will be unharmed, and the plant’s leaves grow back quickly. African violets add color to your home year-round. If you like succulents, Echeveria and Haworthia are great options. If your style is more exotic, try areca butterfly palms and calathea. Houseplants are a great addition to any home but do your research before bringing them inside. While they may be beautiful, you must ensure they are safe for your pets.

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