Friday, April 18, 2008

Worldwide Appeal of Hawaii Real Estate

Lately I've worked with "mainland" buyers who have seriously considered investing on Oahu, but have flown back home without committing. Their comments ranged widely:

  • Hawaii prices are too high
  • the market hasn't bottomed
  • financing options are fewer
  • a recession may be coming

While we don't have the gloom and doom reports for real estate on Oahu that so many markets hear on the mainland, buyers can't shake off the constant news reports of hard economic times.

We are so lucky here to have a somewhat isolated economy. Our prices are certainly affected by transportation and supply from the mainland, but real estate prices don't always follow their trends. Now, for instance, many cash buyers from around the world - Malaysia to England - are investing in Hawaii real estate, because the dollar is so weak worldwide.

In most countries, even against the Euro and Canadian dollar, an investment in U.S. currency seems very attractive.

So if you are from Maine or Nebraska, I certainly understand your concern. But if you are using foreign currencies, email or call for information on some great buys in our Islands. Remember, they can't make any more Hawaii waterfront property - the demand will always be there because the supply is limited.


Barbara Abe

Wednesday, April 2, 2008

Our Aloha Spirit is Alive and Well

The closing on March 31 of Aloha Airlines saddened many in the Islands, not just the ex-employees, but the dozens of stranded travelers, whose reservations on the airline were cancelled.

Yes, the airline was an important asset to interisland transportation - and in recent years, to the mainland - for 61 years. But this is not the first time an air carrier has gone out of business in Hawaii. In recent memory, MidPacific and Mahalo were two airlines that couldn't compete with the bigger carriers, even as Aloha said it couldn't compete with the smaller carrier Go. But folks will still fly outer island to visit or vacation, and there are two airlines left to service the market.

Our real estate values will not suffer because of the loss of Aloha Airlines. Our islands will still be beautiful, and island real estate - because of the scarcity - will continue to be highly prized. Subdivisions can be made on the mainland, but there will never be more waterfront land - in our lifetimes - created in Hawaii.

So make your reservations, come visit, and consider a real estate investment. Our Aloha Spirit is waiting for you.

Contact me with any real estate questions you may have and for a thorough real estate market analysis of Oahu.

Barbara Abe, REALTOR

Real Estate Sales in Hawaii Kai 10/07 - 3/08

Sales in the last 6 months in Hawaii Kai have continued strong. Here is the breakdown:

Single family - 96 sales total

34 under $799,99
23 between $800,000 - $999,999
13 between $1,000,000 - $1,199,999
19 between $1,200,000 - $1,999,999
7 over $2,000,000

The low price was $551,000, a 3-bedroom home in Kalama Valley, and the high was $15,900,000, a waterfront estate on Portlock.

Condos - 93 sales total

Prices ranged between $320,000 for a 1 bedroom in the Commodore and a 1 bedroom in Plaza Hawaii Kai, to $1,400,000 for a 3 bedroom unit in Kalele Kai.

Contact me for a complete analysis of the Hawaii Kai real estate market. I specialize in this beautiful community in East Oahu.

Barbara Abe, REALTOR