Belize Real Estate Secrets
January 22, 2008
The Belize Real Estate Market is on the up-and-up. Find beautiful oceanfront property here: Belize Real Estate.
Economist Cites Hawaii Real Estate Costs as Risk to Big Island Economy
September 17, 2005
The Big Island economy is booming, but Hawaii real estate costs pose a risk to continuing economic growth, reports the Honolulu Star-Bulletin.
Economist Leroy Laney from Hawaii Pacific University delivered an optimistic short-term prediction to a Chamber of Commerce audience.
“Both job growth and inflation-adjusted personal income will hover in the 2 to 3 percent range,” he said.
But an economy cannot function without workers, and Hawaiian workers need Hawaii homes.
The lack of affordable Hawaii properties on Kauai and Maui is “truly acute” and the Hawaii real estate market on the Big Island is only slightly less of a problem, he said.
Laney raised the question of whether the Hawaii real estate market is in a bubble that eventually will burst, expressing the need for caution. He reminded his audience that those who bought Hawaii real estate at the top of the market in the 1990s, when prices on Hawaii properties were inflated by Japanese money, were punished.
An end to the Hawaii real estate boom would bring a downturn, but probably not a recession, he said.
Resort Residential Hawaii Real Estate Prices Skyrocketing
September 15, 2005
Sales in the resort residential Hawaii real estate market have been booming. In less than five years, sales have nearly doubled from 1,133 closings and total revenue of $1.04 million in 2001, due to a larger inventory and higher prices.
The booming resort residential market has had some impact on the overall Hawaii real estate market. Buyers of Hawaii properties in the high-end segment face more competition between both resort and non-resort properties.
For now, prices are soaring dramatically throughout the entire Hawaii real estate market. In fact, the biggest growth in the resort residential sector in the past two years has been in the $1.25 million to $1.75 million price range—and most people seeking a Hawaii home don’t have that kind of money.
Californians Snap Up Resort Residential Hawaii Real Estate
Large resort residential Hawaii real estate markets are Increasingly becoming home to as many California-based residents as Hawaii residents.
Buyers generated sales of $2 billion on 2,116 closings on Hawaii homes, condominiums and vacant lots in the resort residential sector in 2004. The highest price paid was for a $10.3 million condominium on the Big Island.
California buyers drove the market, accounting for 40 percent of the purchases in 2004. They dominated the condominium sector, making up 47 percent of the Hawaii real estate market compared to only 17 percent of buyers from Hawaii.
Californians are selling dear in California and buying Hawaii properties. A population that loves Hawaii anyway—and not only because California is home to the majority of Hawaiians who reside out of state—is seeing a good chance for appreciation on their investments in Hawaii real estate.
Hawaii Properties on Hokulia in Legal Limbo
September 11, 2005
A 2003 Circuit Court ruling determined that Hokulia was an urban Hawaii real estate project being built illegally on agriculturally designated land. The developer of the Hawaii property, 1250 Oceanside Partners—along with Hawaii County, which granted them their permit—then appealed that decision to the Supreme Court.
The court has just rejected the second of two Hawaii County requests to quickly review the controversial Hawaii real estate case. That leaves the county with a serious dilemma about how to apply existing land-use laws to Hawaii properties.
In addition, about 150 Hawaii real estate owners in Hokulia want compensation because the lower court banned construction on their Hawaii properties, and have threatened a lawsuit against the county.
Subdivisions created on agricultural Hawaii properties before 1976 are not affected by the outcome of this case, as the Legislature had not yet connected housing and agricultural activity on Hawaii real estate then.
Hawaii Real Estate Prices Support Maui’s Economy—For Now
The hot market for Hawaii homes in Maui County is a key factor in sustaining the currently robust economy of the “Valley Isle,” say some experts.
Experts say that Maui’s strong economy—demonstrated by indicators ranging from job growth to increases in the tourism and construction industries—could have bad side effects if the increases in price of Hawaii properties become too great to sustain. Hawaii, like many other states, is anxious about a possible housing bubble, as more and more national forecasters are pointing to an overpriced Hawaii real estate market.
Owners of Hawaii real estate that bought at the height of the previous boom in the 1990s were punished, contributing to the worst decade of the state’s modern economy. Current prices for Hawaii properties on Maui have risen 190 percent since that low-point.
Presently, both working-class families and those in the professional ranks are finding it harder to afford Hawaii homes on Maui. But experts hope that, eventually, the limits of affordability will bring the current Hawaii real estate cycle to an end.
Luxurious Hawaii Homes for Sale in Beach Villas at Ko Olina
September 9, 2005
Centex Destination Properties has just announced Beach Villas at Ko Olina, the first new beachfront Hawaii condominiums to be built on Oahu in twenty years. Beach Villas at Ko Olina will break ground on Sept. 29., and the first 75 Ocean Tower villas will go on sale on Oct. 17-18.
Beach Villas at Ko Olina offers 247 luxurious villas in two state-of-the-art Hawaii condominium developments: the eight-story Beach Tower (92 villas) and 15-story Ocean Tower (155 villas). Prices for a two-bedroom Hawaii home are expected to start at $1.8 million. Sales reservations, which include a $50,000 refundable deposit, are currently being accepted.
The interiors of the two- and three-bedroom Hawaii condominiums will range in size from 1,169 to 1,623 square feet, and will offer ocean, mountain or coastline views. All will feature exclusive Roy Yamaguchi signature kitchens.
All of these luxurious Hawaii properties come with a ten-year structural warranty and Centex Destination Properties’ two-year fit-and-finish warranty—twice the industry standard for Hawaii real estate.
Hawaii Real Estate Update
August 24, 2005
Have you ever dreamed of just leaving it all behind and moving to a tropical paradise?
If so, you’ll want to stay on top of the Hawaii real estate market.
Learn everything you can about Hawaii real estate by checking in with the experts here at Hawaii Real Estate Secrets.
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