Oahu living (Honolulu, Pearl City, Kailua: for sale, real estate, lease)

[hockey19]

How easy would it be for a family that makes 100k to live and own either a condo of house in a decent area in hawaii?

[HankDfrmSD]

Originally Posted by hockey19

How easy would it be for a family that makes 100k to live and own either a condo of house in a decent area in hawaii?

It would depend a lot on how much you have for the down payment. To give you an idea of the prices you might have to pay, here are some house/condo values in some areas on Oahu:

Some houses in an "OK" (not great) area in Kailua:

Kailua, HI Real Estate and Kailua, HI Homes For Sale | Zillow Real Estate

Some in a better area in Kailua:

Kailua, HI Real Estate and Kailua, HI Homes For Sale | Zillow Real Estate

Some in a great area, near the beach in Kailua:

Kailua, HI Real Estate and Kailua, HI Homes For Sale | Zillow Real Estate

And here are some condos in Kailua:

Kailua, HI Real Estate and Kailua, HI Homes For Sale | Zillow Real Estate

Some houses in an ok area in Pearl City:

Pearl City, HI Real Estate and Pearl City, HI Homes For Sale | Zillow Real Estate

Here are some in Hawaii Kai, a "better" area in east Oahu:

Honolulu, HI Real Estate and Honolulu, HI Homes For Sale | Zillow Real Estate

[whynot?]

I would think it would also depend on the size of the family (number of children, school/daycare needs, etc.)?

[hockey19]

no children, just out of college. I think we would rent first so we could get a feel of things but after a year or so we would want to own.

[kani-lehua]

really depends on location as hank pointed out. personally, i wouldn't go so much by the street name. there could be a beautiful home on maluniu, yet the neighboring homes are trash. same goes for those along kalaheo avenue (main thoroughfare) closest to the beach or any other home. you have to look at them physically before making a decision. i would consider my home to be desirable as it is one block from the beach. typical ranch style. the only thing needing improvement would be the landscaping. you can't tell a book, i mean home, by it's cover--most times.

[hockey19]

How do you feel about the Big Island. It looks a lot more affordable. Is there a catch besides the vog?

[kani-lehua]

i L-O-V-E the big island and we're in the process of trying to close on a purchase as we speak.

regarding the VOG and affordability: others like cynmkolohe, hotzkatz and leilaniguy would be able to explain it better than myself as they live on that island and in different neighborhoods/subdivisions. but, namely on the windward side of the island. there are other threads that talk about the big island as well that you should read. also, when the winds change, the entire island chain is affected.

getting back to kailua, o'ahu: this family home is assessed at over $1,000,000.00 but could never sell for that amount in today's market. probably closer to the upper $700 thousands to lower $800's. would i pay that much for it? never. i say big deal. it has hindered us in acquiring a mortgage for the the big island property.

lenders want to know why we are "downsizing"? they are considering it an investment and not a primary residence. in actuality, this house is a 4bedroom/3bath on app. 13000sft 1 block from the beach. (main house with attached cottage). the new home is on the county records as a 1b/1b with huge wrap around lanai and 3 car garage. but, the owner has converted 1/3 of it into another room/office on 3 acres in the forest. purchase price is less than $200k.

there are trade-offs. IMO, the big island offers peace and quiet and more of a laid back attitude. but lacks in accessibility to healthcare, shopping and employment. houses can be more affordable yet gas, groceries and homeowner's insurance can cost more.

[cynmkolohe]

A couple of quick questions...

Would your jobs transfer to the Big Island and allow you the same income if you lived here?

Can you give us a sense of what "nice" means to you as related to Hawaii? (Are you looking for "beaches and views" or country and isolation? Do you need to be near a big city or would a small village be ok?)

[hockey19]

I would be a cop and she would be a chef somewhere. so i dont know how easy it would be for her to break into the food scene on the Big Island. By nice, I mean something that is not run down. Doesn't have to be too big 1000sqft to 1500sqft, in a safe area. I know we would be able to afford the beach views with our professions. Thats why I think the big island is a better deal in the form of housing cost. Of course, I have never been to the big island so I know absolutely nothing about it. Ive been to Kauai and Oahu many times but Kauai is WAY too expensive and frankly I like the idea of being able to go to Honolulu on the weekends and nights.

[ArkansasTraveler]

Originally Posted by hockey19

no children, just out of college. I think we would rent first so we could get a feel of things but after a year or so we would want to own.

No rent here. Its by one year lease. We came over in 1997 on less than 100k had to buy a condo at 282,000, got that payed off in 11 years. Takes about 5 years to get by the stinkeye. Locals are just now understanding the ADA laws. You will be ing at some of the local customs.