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Moving to Hawaii--Thinking of buying a house
Posted on 7/5/17 at 4:18 pm
Posted on 7/5/17 at 4:18 pm
Anyone have any experience in the Hawaiian market? Thoughts, suggestions?
4
Posted on 7/5/17 at 4:26 pm to VermilionTiger
Have lots of money it's very pricey
Posted on 7/5/17 at 5:35 pm to scormi5
Which Island?
The markets in Oahu, Kauai, and Maui are all close to the top as far as I can tell. I'm less sure about the Big Island. If you're willing to live with water catchment, you'll probably be able to find something reasonable on the Big Island.
Also, there are a lot of leasehold properties. If a house seems too cheap, it's probably because there is a $1000 lease on the land that you'll pay every month even if you bought the house itself.
The markets in Oahu, Kauai, and Maui are all close to the top as far as I can tell. I'm less sure about the Big Island. If you're willing to live with water catchment, you'll probably be able to find something reasonable on the Big Island.
Also, there are a lot of leasehold properties. If a house seems too cheap, it's probably because there is a $1000 lease on the land that you'll pay every month even if you bought the house itself.
This post was edited on 7/5/17 at 5:37 pm
Posted on 7/5/17 at 7:03 pm to jturn17
Oahu. Working near the center of the island, close to Pearl Harbor/Honolulu.
I've heard a variety of opinions on buying; most appealing one I've heard is "it's an island so limited future development" means land prices will always go up.
I've heard a variety of opinions on buying; most appealing one I've heard is "it's an island so limited future development" means land prices will always go up.
Posted on 7/6/17 at 11:16 am to scormi5
quote:There's probably a lot of truth to this, especially in the middle of the island. I believe the coasts can vary with the economy as people buy and sell vacation homes.
I've heard a variety of opinions on buying; most appealing one I've heard is "it's an island so limited future development" means land prices will always go up.
Wahiawa is probably the cheapest option, but run down relative to some nicer areas. But everyone should go to Sunny Side at some point and get the fried rice special.
Mililani is nicer, but more expensive. I haven't spent much time in the Pearl City-Honolulu areas though.
Buy close to your job because traffic can be killer as you get closer to Honolulu.
I have no idea what your budget is, but if it's >700k you'll be fine. But you can get an apartment/condo for 300-400k. Depending on your budget, be ready to make some sacrifices on size, location, or condition of the place.
Posted on 7/6/17 at 12:09 pm to scormi5
How long do you plan on living there? What's your experience in real estate? Is this your first house? Unless you've bought multiple properties before and have almost guaranteed plans to be there for more than 3 years I wouldn't buy.
Hawaii is amazing, but homes are very expensive. I'd honesty rent and enjoy the islands for a couple of years without owning a property. Imo you spend more time and money on a property you own, but in Hawaiian there's so many public places you can enjoy for free. Plus as said, I don't think I'd buy a place without knowing the area, traffic, etc.
Hawaii is amazing, but homes are very expensive. I'd honesty rent and enjoy the islands for a couple of years without owning a property. Imo you spend more time and money on a property you own, but in Hawaiian there's so many public places you can enjoy for free. Plus as said, I don't think I'd buy a place without knowing the area, traffic, etc.
Posted on 7/6/17 at 11:24 pm to scormi5
Prepare thy anus
Posted on 7/7/17 at 9:18 pm to DaBeerz
quote:
Prepare thy anus
Why? Bad experience over there?
Posted on 7/8/17 at 6:43 pm to scormi5
quote:
Oahu. Working near the center of the island, close to Pearl Harbor/Honolulu.
Are you looking to buy a house for sure or maybe a condo? I have a condo in Waikiki and am looking to buy a house now. The market is nuts in the area I'm looking in (Kaimuki, Palolo, Kahala, etc).
If you're going to be close to Pearl Harbor for work then you could look at Waipahu, Aiea, Mililani, and Pearl City. I don't know those area prices as much since I'm looking specifically in town, but I would say your pricing will be a little better than what I'm seeing which is $700k+ for a fixer upper. I would tell you to do what I'm doing if you buy a house and try to find a place with a room to rent with it's own entrance, like a studio. They call it an Ohana here. And be prepared to make full price or over ask offers. I have been beaten out a few times already.
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