The better questions to ask is.......
Will the Oahu Real Estate Market Recover More Quickly than the Mainland?
Lower condo prices are attracting investors into the Oahu real estate market and appear to be helping it recover faster than many other real estate markets across the Country.
One primary asset Oahu has going for it is that it is a Hawaiian island and a most desirable destination. A large portion of Hawaiian real estate represents second home ownership and the desire to visit Hawaii and own property there is one that will stand the test of time. Inventory is limited on an island. Simple supply and demand dictates that even when there are less buyers, limited inventory will help stabilize prices and actually keep them from dropping lower.
While there is no doubt that real estate on Oahu has taken a hit and will perhaps drop more, it is still estimated by many experts that the real estate downturn will be shorter lived on Oahu than for the majority of the mainland United States.
Couple that with the fact that a large percentage of Hawaii and Oahu condo purchases are made by buyers on the West Coast of the U.S., seeing some positive signs of stabilization and recovery in the California, Oregon and Washington State real estate markets is a very positive sign.
Certainly, there's no doubt that if you've always dreamed of owning a condo in Honolulu there could not be a better time to buy.
For more information about Honolulu Condos and the real estate market, please feel free to visit our website at www.HNLCondos.com.
Search For Your Honolulu Condo.
Mahalo For Reading.
If you or anyone you know is thinking about buying or selling a condo in Honolulu, Hawaii, it would be my pleasure to help.
Douglas Fischer, R.A., REALTOR, ePro, C.D.P.E.
RE/MAX Honolulu
www.HNLCondos.com
808-497-3810
Douglas@HNLCondos.com
Douglas is an experienced and respected Honolulu, Hawaii Realtor Associate, in partnership with his Japanese speaking partner, Christopher Sumida, who specialize in residential Real Estate and the sale of Condos in the greater Honolulu area including the neighborhoods of: Waikiki, Diamond Head, Ala Moana, Kakaako, Kapiolani, Makiki, Chinatown and Downtown Honolulu.
Thanks for the information Douglas. My brother works out there and will probably retire there in a few years. Right now I think his company pays per diem, but when he retires he won't have that helping hand.