Chris  Morgan

 

Realtor  /  Broker

Suzanne  Smith  Associates

 
 
     

Market  Analysis

 

State  of  Hawaii

As a state where the land that is available for private ownership and new construction are in short supply, prices have been gradually increasing.

Some residential sectors should see higher sales volume in coming months.  Hawaii has a strong banking system, with credit available and money to lend.  Along with low interest rates, we expect that this will offer continued incentive for resident Buyers to make their purchase, as more mainland buyers are choosing to relocate here.

 

Oahu

 

The most populated island in the Hawaiian chain of eight major islands has continued to experience an increase in housing prices, and a continuing population increase has led to a scarcity of housing in recent years.

There is a lesser inventory of properties for sale.  Since people still need places to live, there is continuing demand.

 

Honolulu

 

Although new single family home construction in town is down (with most new home construction in communities outside of Honolulu), several high rise properties are planned for the future, or under construction.  As the international crossroads of the Pacific for air travel and shipping, and the center of commerce, tourism, and government administration for the state, properties in Honolulu's housing market continue to be in demand. 

The current market seems to favor Sellers today.  Although we see that the best properties sell sooner, and overpriced properties may sit.  Accurate pricing is key.

 

Waikiki

The continuing revitalization and upgrading of hotel properties in the heart of Waikiki, and the construction of the new towers, continue to enhance Waikiki's value and appeal to a more upscale clientele.   We already have the world's best known resort beach (Waikiki) and resort landmark (Diamond Head), as well as 365 days of warm weather to go with crystal seas, verdant greenery, and spectacular sunsets.  This continues to drive interest in purchasing by resident and mainland buyers.

Waikiki is still in demand for vacation condominiums or investment properties.  Baby boomers still want to purchase for their retirement.  Working people and retirees also like the convenience and amenities. Sales prices have been improving, and we expect them to continue to improve as the economy improves.

 

 

 

 

 

 

 

 

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