— Recently a buyer and his agent visited one of my condo listings for sale. The buyer asked me directly: “what do you think Oahu real estate prices will do in the next 6 months?” It turned out the buyer was looking to educate himself on Honolulu condos but has no intentions to buy until perhaps later in 2019. This buyer was fully expecting that ‘with higher interest rates, prices …Read More
— Short-term vacation renting has been growing in popularity since the dawn of the sharing economy. VRBO started in 1995, but it was the start of HomeAway (2004) and Airbnb (2008) that forever changed the way the world looks at real estate. Everyone wants a piece of the pie because it can be lucrative. We receive daily an ever-increasing amount of new inquiries about which properties for sale might be …Read More
— ‘Every property owner gets excited when their property value goes up. But nobody wants to pay more property tax as a result of it.’ On December 15, 2018, the tax office mailed out the Honolulu County Tax Assessment Notices. The combined assessed property values in Honolulu County increased by 6.8% compared to last year. That includes Oahu homes, and condos, as well as newly completed Kakaako condos. An increase …Read More
— High-rise condo construction has become the norm in urban Honolulu. Building vertically is the ‘highest and best use’ of limited available land. Today more than 60% of Oahu residents live in condos and the number keeps growing. Honolulu condos offer some unique benefits including location conveniences, amenities, security, and a seemingly carefree ‘lock-and-go’ lifestyle. See related article Condo or Single-Family Home? One reason why condo living has gained popularity …Read More
— “Knowing what I know now, I should have bought Hawaii real estate when I was younger.” Life experiences bring wisdom. We can’t undo the past, but we can learn and apply our wisdom and prepare for the future, ..and the future of our kids. Recently I met a couple that bought a Honolulu condo for their daughter who just graduated from college. The parents can claim all the tax …Read More
— Short answer: Just like any other generation has done it before. It requires sacrificing short-term gratification in lieu of long-term gains. This is a difficult concept for many. A recent survey concluded that millennials place homeownership above other life priorities. Another study showed how young people believe they’ll get rich: 21% by winning the lottery, 11% through an inheritance, and 3% by way of an insurance settlement. – Good …Read More
— In today’s sharing economy with the popularity of Airbnb and VRBO, many are considering owning Hawaii real estate as a vacation getaway that pays for itself by renting it out. If you are new to condotel investing and short-term vacation renting, then first start with our Guide to Condotels and Short-Term Vacation Renting. See related article: Waikiki’s Condotel Reality – Cash Flow vs Lifestyle. Condotels offer a unique dual …Read More
— Here is a typical inquiry we recently received: “We just finished a 2-week Hawaii vacation and now back home we decided we would like to buy a little vacation home in Honolulu. We could probably afford about $600K but we would need to get a mortgage. We read some of your articles about condotels and saw that some of the Trump Tower units are available in that range. The …Read More
— Have you ever discovered an incredible real estate opportunity you wanted to buy but you didn’t have the necessary funds available to strike at the time? Learn how you can use a little-known strategy on how to buy Hawaii real estate using a “60-Day rollover”. Before we discuss the pros and cons and how to use this handy tool, let’s first touch on a couple other better-known ways to …Read More
— Hawaii real estate is expensive. It always has been, and always will be compared to many other US locations. The four primary reasons are: High demand for ‘paradise.’ The scarcity of buildable land, – This is an island state. High shipping costs, – No other major population center in the world is this remote, surrounded by more ocean than Honolulu. Lack of incentives for developers to build. – Governmental …Read More
