Any 411 on the Housing Market on Oahu? (Honolulu, Pearl City: short sale, real estate)
OahuIncludes Honolulu
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I plan on relocating back to Oahu later this year. We will be selling our home in Austin, TX. When I ask realtors, I can only partially believe what they are saying. What are some of you seeing there in the Market. I know the prices are high - and compared to Austin I could not affort to buy the size of home I have here (3500 sq ft). I know Hawaii is always a slow reactor, 6-9 months, to the ills of the mainland. Any help would be most appreciated.
Aloha. I monitor the Oahu/Honolulu housing market as a hobby. I use this website Oahu Real Estate to monitor the market as it shows a lot of information such as list price, sold price, number of days on the market, etc. I wish more areas of the country provided the same type of information. I am considering a move to San Antonio, TX, or Kirkland, WA and they do not have the same information available.
In general prices are falling. You can probably get a great deal on a short sale. What part of Oahu are you considering? I might be better able to assist you if you indicate either where your job will be, or what neighborhood you are considering, and how much you were hoping to spend. The average cost of a single-family home on Oahu ranges from $450,000 to $600,000. Townhomes and condos are more affordable, but maintenance fees (a/k/a Homeowners Association Fees) can be several hundred dollars more a month.
This time around, Hawaii isn't a slow reactor to ills on the mainland since our buffer of Japanese visitors aren't there to soften the blow. It used to be when the mainland had financial troubles, we would do fine because foreign visitors would take up the slack but now, Japan as well as the rest of the globe, is not doing so well so they are cutting back on expensive vacations, too.
Double that house size you mentioned and that's the size of an average houselot in Hawaii, don'tcha think?
Ah yes, I previously owned a home in Pearl City and it was approx 1500 sq ft on a lot of approx 6500; so I'm well aware what I'm stepping back into. The good part is that most of my furniture is still there in storage and I will sell off just about everything else except the car and my art work. Mahalo for the info.
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