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$677k!!! The next highest is New Jersey at $393k. But who wants to live in New Jersey? Forget them. So what about California, our closest neighbor commonly regarded as a very expensive state in which to live? Their average home loan is only $310k. Less than half Hawaii's.
And that's why my wife and I may never be able to live in Hawaii. That average must be heavily skewed by Oahu, though. We could easily afford a house on my wife's native Big Island - if we were earning the same salaries we are in Portland, OR, where housing prices are similar to those in East Hawaii. That's the catch, though: there are no jobs on the BI in our fields. There are in Honolulu, but a house we can afford in Portland would cost two or three times that on Oahu, which puts it out of our range. We long ago decided we're not willing to do "whatever it takes" to live in Hawaii. In balance, Portland is just as nice. Hawaii wins on weather and beaches, but Oregon wins in other areas.
And that's why my wife and I may never be able to live in Hawaii. That average must be heavily skewed by Oahu, though. We could easily afford a house on my wife's native Big Island - if we were earning the same salaries we are in Portland, OR, where housing prices are similar to those in East Hawaii. That's the catch, though: there are no jobs on the BI in our fields. There are in Honolulu, but a house we can afford in Portland would cost two or three times that on Oahu, which puts it out of our range. We long ago decided we're not willing to do "whatever it takes" to live in Hawaii. In balance, Portland is just as nice. Hawaii wins on weather and beaches, but Oregon wins in other areas.
Finally - someone realistic. I was looking at some older threads today and usually the recurring theme is, I have $10,000 (seems to be the magic number) and I'm moving to Hawaii with no reality of how expensive and how low the income is here - and then get angry when people point that out to them. It gets old for a lot people when they are broke in Hawaii despite the weather, beaches, and how scenic it is. Almost 9 out 10 move back within 2 years.
It gets old for a lot people when they are broke in Hawaii despite the weather, beaches, and how scenic it is. Almost 9 out 10 move back within 2 years.
This is actually good news. If 9 out of 10 stayed forever, imagine how high the prices would be then!
Not too surprising. I mean, most of the population is in Oahu, and most of the single family homes do seem to start around 500K for fixer-upper, and go drastically up in price for something liveable.
I think the interesting thing about this is 'the average HOME LOAN'. Not the average price of housing...but HOME LOAN? I'm not sure what to speculate about that exactly...
I think a better comparison would be city to city vs. state to state. Hawaii is 100% beach paradise. So if California would exclude any housing that was not coastal and basically only included San Diego, Los Angeles, San Francisco, and the suburbs of those communities within 10 miles of the Ocean, then cut off all the inland empire desert life, then the prices would likely get a lot closer together.
lane_change is right about comparing apples to apples.
also whtviper1 wrote: "Almost 9 out 10 move back within 2 years." If there's one thing I've learned on this forum, it's that Hawaii, all islands, have a not insignificant part of the economy influenced by 2-year tame-adventure seekers in paradise. A lot of young, married and unmarried, people trade a few years of savings for the experience. It affects rents (higher), jobs (less and lower paying), and used goods markets (better). Some like it and stay, others move on, either because they're the moving type or just to settle back home on the mainland.
I think a better comparison would be city to city vs. state to state. Hawaii is 100% beach paradise. So if California would exclude any housing that was not coastal and basically only included San Diego, Los Angeles, San Francisco, and the suburbs of those communities within 10 miles of the Ocean, then cut off all the inland empire desert life, then the prices would likely get a lot closer together.
Yup, folks that think that are frequently the ones who move over here for a year and then when they find out it ain't so, they are off again. And as previously mentioned, skewing the price of rentals up, income from jobs down and leaving a lot of good stuff at yard sales.
Yup, folks that think that are frequently the ones who move over here for a year and then when they find out it ain't so, they are off again. And as previously mentioned, skewing the price of rentals up, income from jobs down and leaving a lot of good stuff at yard sales.
I think he means that almost all the populated areas of Hawaii are close to the ocean. Even Upcountry Maui is only an hour drive to the sea.
I think he means that almost all the populated areas of Hawaii are close to the ocean.
Yes, that's what I understood. The "100% beach paradise" was in reference to the real-estate category (ie how a realtor would describe it), not to actual living conditions.
Quote:
Originally Posted by winkosmosis
Even Upcountry Maui is only an hour drive to the sea.
I'm surprised it's that much. I thought that in an hour you could pretty much reach the summit of Haleakala. I don't think there is any paved road on Kaua'i that is more than 30 minutes to a swimable beach, and that includes our "mountain." For residential areas, the average is probably about 15 minutes.
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