Hawaii Randy's Real Estate Opinions: Honolulu Predicted to be The Hottest Real Estate Market in 2008

Honolulu Predicted to be The Hottest Real Estate Market in 2008

                                                          Waikiki Beach

http://www.housingpredictor.com/ chose Honolulu as their pick for the hottest housing market in the country.  All I can say is from their lips to God's ears.

While other parts of the country have suffered, Oahu (Honolulu County) has been a pretty stable market.  Even though the resale volume is down from the hot market in 2004 & 2005, prices have remained stable.

Why do I think things have been generally better in Hawaii? 

  1. People in Hawaii pay their mortgages.  We constantly are among the lowest for foreclosures and delinquent mortgage payments.
  2. Our unemployment rates have been among the lowest in the nation for a few years now.
  3. We are on an island, the supply is limited.
  4. There are several large military bases and a fair amount of troop movements.
  5. The dollar exchange rate makes us look like a bargain to foreign investors, especially the Canadians.
  6. Some west coast markets, not only are slower, but the prices are higher.  We look like a bargain to some of their folks.
  7. According to http://www.housingpredictor.com/ the J-REIT (Japanese real estate investment trust) will allow capital to purchase in Hawaii.  Hawaii has been a favorite for Japanese investors and this change may provide a large influx of money from Japan.
  8. We are in Hawaii, who wouldn't want to live or invest here?

I think No. 8 says it all.  Aloha From Sunny Hawaii!!        

 

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Randy L. Prothero, REALTOR®

Broker-in-Charge, ABR, AHWD, CRB, CRS, e-PRO, GRI, MRP, SFR

eXp Realty

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.  His luxury home listings sell faster and for more money.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

Comment balloon 12 commentsRandy Prothero • March 10 2008 02:00AM

Comments

I wish I could say the same for here but it's the opposite of what you said.
Posted by Neal Bloom, Realtor CRS-Weston FL Real Estate (eXp Realty) over 10 years ago
Randy-I think once you own paradise there is no way...anyone would let that go!  If I could live anywhere in the world...there is a good chance it would be Hawaii! :)
Posted by Midori Miller, Digital Marketing Director (Talk 2 Midori, LLC) over 10 years ago
Randy, I've never even been to Hawaii!  Your posts make me think it would be good to make travel plans!
Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) over 10 years ago

Hi Randy,

That is good news.  I suppose you are getting more people becoming real estate agents there also. 

Posted by Leslie Bloss, Bellevue Real Estate Professional over 10 years ago

Howdy Randy, Told you I would start following your blogs; after reading this one I know I will come again. Have never been to Hawaii but watch many travel shows showing the good, quality life in Hawaii. I would think the real estate market would be excellent and continue to grow. How could it not when you are living in a paradise.

Posted by Carl Winters over 10 years ago
Randy, we are experiencing pretty much the same market here in Connecticut.  Even though we were down about 12% in sales last year, or Median Price was up 3%.
Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 10 years ago
Yup...but they keep doing those darn "national" reports to include everyone....it's local local local market...end of story.  I love Hawaii.
Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Liberty Homes) over 10 years ago

Neal - I hope they are correct in their predictions.

Midori - That was true for me.

Patricia - Hawaii is calling.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 10 years ago

Leslie - The schools haven't stopped pumping them out.  There have been some leaving as the sales volume dropped the last couple of years.  This is a renewal year.  It will be interesting to see what the membership numbers are next January.

Carl - It is a great place to live.

George - I have heard similar numbers from a few markets around the country.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 10 years ago

Sally - Even here on the island some communities are quite different than others.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 10 years ago
Randy - I know there are a lot of non-native Hawaiians there, but I wonder if some of the motivation to pay their mortgages is a result of the bonding between people and the land...
Posted by Sharon Simms, St. Petersburg FL - CRS CIPS CLHMS RSPS (Coastal Properties Group International - Christie's International) over 10 years ago

Sharon - I am not sure that is a major factor. 

I was a little bummed yesterday.  I saw the same website moved another community to number 1 ahead us us.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 10 years ago

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