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Unread 06-26-2009, 04:53 AM
 
Location: West of the Pacific Ocean
10,533 posts, read 11,917,582 times
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Default HONOLULU: How many resigned themselves to the fact they'll be rentors forever?

HONOLULU: How many resigned themselves to the fact they'll be rentors forever?
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Unread 06-26-2009, 03:11 PM
 
Location: Hawaii
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Sorry, everyone in my family owns their own home here (as well as on the Mainland). Not everyone who rents do so because they cannot afford to but; some people could afford to own but actually prefer to rent (freeing themselves from repairs, etc) ad others are still waiting for the 'perfect' property.
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Unread 06-26-2009, 03:29 PM
 
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many people in new york never own a home either. you have to resign your self, in other words compromise, your ideas on what is a home/house to you. what are you willing to do without to live here. unless you have enough money to buy what you want. some folks are living in condo's who would never consider it on the mainland. some people rent out rooms. you really do figure out what is important and what is excess here. do you really need 2,000 sq. feet or will 1200 be enough. can I live in a home built in 1950's to 1980's or do I get a newer one. many things to look at and it isn't much different than living in any other expensive real estate market. you get what you can afford
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Unread 06-26-2009, 03:38 PM
 
Location: Was in Western New York but now in Hilo Hawaii
1,234 posts, read 2,182,784 times
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FYI...
The 2 States that have the highest home ownership ( homes owned outright no loansper capita not by population
) are Hawaii and New York
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Unread 06-27-2009, 03:28 AM
 
Location: Flower Mound, Texas
1,837 posts, read 2,057,004 times
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Although I do not live in Hawaii this is a very good and honest post!! Very helpful. You have a great attitude about life...

Quote:
Originally Posted by melaniej65 View Post
Sorry, everyone in my family owns their own home here (as well as on the Mainland). Not everyone who rents do so because they cannot afford to but; some people could afford to own but actually prefer to rent (freeing themselves from repairs, etc) ad others are still waiting for the 'perfect' property.
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Unread 11-13-2011, 06:13 AM
 
Location: West of the Pacific Ocean
10,533 posts, read 11,917,582 times
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Quote:
Originally Posted by KoaKine View Post
FYI...
The 2 States that have the highest home ownership ( homes owned outright no loansper capita not by population
) are Hawaii and New York
That's intersting.

If a person owned their home ownright, it would make living in Hawaii a dream. I suppose, long-term in Hawaii, it's something a person probably aspires to, even if you have to live with a lot of family members to do so. Maybe that's what they do?
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Unread 11-13-2011, 10:40 AM
 
Location: Kailua
2,518 posts, read 1,393,383 times
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Quote:
Originally Posted by Tiger Beer View Post
HONOLULU: How many resigned themselves to the fact they'll be rentors forever?
I don't think I know anyone who rents in Honolulu. Home prices aren't out of reach - monthly rent is. Way to few rental properties means high rent. Those $3,000 monthly rents in Waikiki gets you a lot of home once you move towards the West or East side.
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Unread 11-13-2011, 12:32 PM
 
Location: Honolulu, HI
704 posts, read 631,365 times
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Home ownership would be nice but it was never really a goal in my life. There are much better long term investments than home ownership and considering the maintenance costs over the long term it just really isn't worth it.

However, considering how well Honolulu's housing market has weathered the recession and kept quite strong, its definitely a better investment than other places.
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Unread 11-13-2011, 05:27 PM
 
Location: Honolulu
95 posts, read 77,402 times
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Quote:
Originally Posted by KoaKine View Post
FYI...
The 2 States that have the highest home ownership ( homes owned outright no loansper capita not by population
) are Hawaii and New York
Do you remember where you read that? I find that very hard to believe and I've lived here most my life. I know the home ownership rates in Hawaii are below the national average if you base it on the traditional definition of home ownership. But the percentage of people who own their home outright is a statistic that I've never seen.

The average cost of owner-occupied housing units in Hawaii (the state as a whole) is the highest in the country (over $500,000). We also have some of the highest percentage of renters and apartment dwellers in the country.
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Unread 11-13-2011, 10:28 PM
 
Location: Kailua
2,518 posts, read 1,393,383 times
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Quote:
Originally Posted by WannabeCPA View Post
Do you remember where you read that? I find that very hard to believe and I've lived here most my life. I know the home ownership rates in Hawaii are below the national average if you base it on the traditional definition of home ownership. But the percentage of people who own their home outright is a statistic that I've never seen.

The average cost of owner-occupied housing units in Hawaii (the state as a whole) is the highest in the country (over $500,000). We also have some of the highest percentage of renters and apartment dwellers in the country.
What source is that? I've always been under the impression that home ownership, at least in Oahu, was extremely high, there doesn't seem to be that many rental properties.
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