With housing prices increasing, Hawaii’s Inflation rate outpaced the Nation’s
It is sometimes difficult to gauge the day to day direction of pricing, but long term or overall, historically Hawaii’s real estate prices continue to climb. It is not unusual to see properties double every ten years. Location, condition and ocean views determine individual property pricing.
In the last quarter, some of our regions had a slight drop but prices can be skewed when a subdivision or newly constructed project sells at one time and skews the numbers or the housing market is tight due to competition in the rental market or if a ship or unit is PCS-ing (military relocation). Last month, however, the median priced home was $795,000.
We have a competitive, affordable rental market. Not only are buildings old with high rents near high employment (City, State and Waikiki) but Honolulu named Nation’s most difficult city to build new apartments…
It can often be easier to buy a property if you own pets than it is to rent. If you would like to know if a building that you like allows pets, please send me a message and we’ll get back to you.