March 26, 2009

Hawaii Housing Looking Better

Housing in Hawaii
If you’re moving to Hawaii or are thinking about buying a vacation property, you might want to take advantage of the current, low prices of housing in Hawaii. From island to island you’ll find that there are remarkable deals and that they continue to get better. However, we may be closing in on the end of this buyer’s paradise toward the end of 2009 and into next year. Although housing in Hawaii is still expensive compared to other states, it’s very low compared to previous Hawaii housing prices. Have a look at some of the examples below and I’m sure you’ll agree that right may be an opportune time to invest in housing in Hawaii especially with the historic low interest rates.

Hawai’I Kai Condominiums
Hawaii Kai is found at the very southeastern end of Oahu is one of the most highly priced areas for condominiums on the island. You can save a great deal by buying one now, though. The median price of a condominium in Hawai’I Kai is almost $100,000 less than you would have paid for one in 2007. There are also more condo’s to choose from. There are over 100 listed as available, while just a year ago there were less than 90.

Single Family Homes in Honolulu
If you want to own housing in Hawaii that sits in the heart of the oldest residential areas found on Oahu, then look to Honolulu. Here, too, you can find some amazing deals on a new home. Single family homes in Oahu have been running about $690,000. While that may sound high, it’s more than 11 percent less than what it would have cost you before. If you want to buy a home here, you may want to act as quickly as possible for your situation. The availability for Honolulu single family homes has been decreasing.

As you can see, there are opportunities jumping at you from all over Hawaii. If you’re waiting to see how much lower the prices may go, you may end up with even a better deal. On the other hand, you may end up missing the deal of a lifetime because you waited too long. That’s a play of the cards, and something only you can decide. But housing in Hawaii is sure to make a strong rebound; wouldn’t it be nice to own a piece of paradise?