Hawaii is many things and offers huge opportunities in a variety of areas but especially in real estate. Hawaii is a tropical paradise and has everything you could possibly want in that setting, and a few things you might not. There is sun, sand, surf, wonderful people and plenty to do and explore. The climate is constant and it is a major hub, not just for tourists but also for people traveling internationally.
It also provides the perfect location for business meetings and retreats, weddings and other large gathers like family reunions. This makes it the perfect place to invest when you are looking at rental properties, or vacation properties. The income and investment potential that can come from renting a location, whether it is for the weekend, a month or by the year is something that should be carefully considered.
Hawaii real estate is not for everyone. Currently the market is an equal buyer and seller market; places are going fast between 60 and 90 days on the market. As well as there being a good supply of housing in areas like East Honolulu. However, the difficult comes in with the price, the average price for a home is around $650,000, that means if you are looking to purchase to live or looking to purchase to rent you should consider the investment carefully. The fall market looking to be up from last year and sellers are receiving 95% to 100% of their asking price. If you are looking to purchase Hawaii, real estate now may not be the best time. There are no multiple offers and repeat buyers are holding as the greatest market for activity. The market however is slowly starting to move to a buyers market.
Looking at the above information in regards to Hawaii real estate it may be wise for people who are looking but not ready to move or people looking to invest to hold off for a little while. The market is slowly started to fall into a buyers market meaning that if you can possibly hold out until the market shifts you are in for a better deal on what you are looking for or the chance to purchase something better for the same amount of money.
Hawaii real estate is one of the more stable markets because of the large amount of activity that occurs within the state. It is an international stop point for a large number of flights especially from Asian and is a common vacation spot. It is also hosts a wide variety of water related activities and with the perfect year round climate Hawaii does not have time to slow down. While the investment may seem a little high compared to other locations, Hawaii real estate is some of the best real estate you can invest in. There are unlimited possibilities when you consider everything that is going on in Hawaii especially if you are looking into real estate as an investment.
Source by Tom Beaty