The land of Hawaii is a tropical Paradise. It is one of the most beautiful places in the world. It is a favorite tourist spot due to the abundance of beaches, volcanoes, sunlight, and diverse natural scenery. Maybe because of these qualities, it has a hot real estate market, making it expensive. Despite the few disadvantages, such as active volcanoes, unfriendly natives, and mudslides in certain areas, it is generally a great place to buy real estate. You can always find a great bargain, especially during the down housing market. If you are looking to purchase real estate in this city, here are the major real estate market and home styles.
Homes in Hawaii
The condominium is the most prevalent homeownership in Hawaii, with about 60% of Oahu residents living in condos. The condos here are unique in structure, with some having hotel features, which is why they are described as condo-tels. Beach homes are also very popular here because of the islands and proximity to the ocean.
Kauai and Maui
These are the most exclusive and most expensive in Hawaii. It is renowned for being home to many celebrities and the beauty of its natural environment. Investing in a real estate property here will set you back some million dollars, at least, especially if you are looking for a beach house. A small home costs around half a million while a condo is what most people go for cost 200k and less. But if you have the money, spend it. Investing in a property in either of these places means a steady rise in property value over the years.
Oahu has five major areas, Waikiki and Honolulu, the Windward Coast, the central plateau, the North Shore, and the Leeward Shore. Honolulu is an already developed area, which means getting a property; there is quite tricky and won’t come cheap. But to its east side is Hawaii Kai, a lovely area where you can get a good bargain. However, the central plateau and the Leeward Shore offer the best opportunity for real estate; they are underdeveloped so that you can get the property for value here. With new developments, every day, be assured of high returns on your investment. The remaining two areas, the Windward Coast and North Shore are not so developed due to the unfriendliness of natives to outsiders, making the low prices of houses there to be irrelevant.
This is the biggest island after which the state is named; it is often called the Big Island. There are more real estate opportunities available here, probably because most of the island is still rural. The active volcanoes in the west and southern part present a considerable risk even though you can find a house for a bargain. Despite this, there are great houses for value, and they cost around half of what you will spend buying the same property in Maui or Kauai. The Big Island has two major metropolitan areas, Kona and Hilo.
Beyond these islands, the other 15 islands that could support human habitation are not viable for real estate due to diverse reasons. The value of Hawaiian real estate lies in the high demand for it by Americans and foreigners alike. Billions of dollars have been invested in the market.