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Mike Bates

Mike Bates

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Hawaii Foreclosures

4 Results Days on Site (new to old)
$369,000 For Sale
2916 Date Street #12A
Honolulu, HI 96816
1 bed, 1 bath | Condo/Townhouse
757 sq ft; lot: 1.137 acres
$625,000 For Sale
77-6485 Ono Road
Kailua Kona, HI 96740
3 beds, 2 full, 1 partial baths | Single Family Home
2,208 sq ft; lot: 15573 sq ft lot
$430,000 For Sale
95-982 Wikao Street #L203
Mililani, HI 96789
2 beds, 2 baths | Condo/Townhouse
1,182 sq ft; lot: 8.939 acres
$569,500 For Sale
91-1170 Kaileolea Drive #2G5
Ewa Beach, HI 96706
3 beds, 2 full, 1 partial baths | Condo/Townhouse
1,130 sq ft
Listings 1-4 out of 4

oahu foreclosures september 2018

The lowdown on Hawaii foreclosures

Hawaii foreclosure listings have increased in recent years.  Foreclosures listed on the MLS allow us to conduct a more standard transaction, generally allowing the buyer to inspect the home and obtain financing.

Hawaii Foreclosure Auctions

Foreclosures listed for auction in the newspaper (judicial and non-judicial) are usually the type where you show up at the courthouse with a cashier's check and bid.

Suppose you find an interesting foreclosure in the newspaper? A buyer usually needs to have at least 10% of the purchase price in the form of a cashiers check in order to bid. Example, you go to an auction for a home that has a potential market value of $400,000 and you're willing to bid $300,000. You need to have a cashier's check for $30,000 before you register to bid. The high bidder needs to secure financing for the balance of the loan (in this case, $270,000). Then, if the owner/tenant is still in the home, the new owner must evict them. If the owner/tenant refuses to leave, a sheriff can be hired (at the new owner's expense) to evict them. Foreclosures usually are fixer uppers, plan on spending money to get the home in good condition.

Okay, suppose you have the cash and financing and find a property you like AND win the auction with the highest bid. Buying real estate is complicated and you should have either an attorney or realtor handle your transaction. Non-MLS foreclosures generally don't pay commissions. To have a realtor handle your documents you'd need to make an agreement to pay your realtor a commission on top of the purchase price.

Foreclosures Listed with Realtors

These foreclosures show up in the MLS and pay commissions, making them easier to purchase.   Your realtor can represent you free of charge (the seller pays the commission).

Outlook for 2018

In 2017 Hawaii's economy recovered nicely. Prices are gaining steadily.  The real estate market has picked up and it's going strong.  Foreclosures and short sales appear to be declining in number. The weakest markets are on the outskirts of Honolulu, in areas like Waianae, Kapolei, Makakilo and Ewa Beach. 

Mike Bates
Realtor Associate
Century 21 iProperties Hawaii

1585 Kapiolani Blvd #1533
Honolulu, HI 96814
Phone: 808-548-1220


I have been selling and buying properties in Canada, Hawaii and Japan for nearly 40 homes and found out Mr. Mike Bates is one of the best and I call him the king of real estate in Hawaii. I will keep asking him to buy and sell properties in the future for sure!

Thank you very much Mike for your great services and hard working manner for me in the past, present and future.
Yuji - April 2019
Mike was awesome. He was very patient and understanding with us. There were times where we just wanted to put things on hold due to the frustration however Mike stuck in with us. We truly appreciate all that he has done for us and will definitely recommend hom to any family or friends that are looking to buy a home. Alton and Janeen K. - August 2018
Excellent customer service! We bought and sold our home with Mike, he is the best realtor in Hawaii. Jerry and Candace G. - July 2018
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