Honolulu Homes For Sale | Honolulu Real Estate
Savvy real estate seekers have noticed that the recession and mortgage crisis have given buyers a distinct advantage in most American markets. Lowered home values mean that maybe you can afford real estate in popular areas, like Honolulu, Hawaii, where you couldn't before. If you're on this page, chances are you're a savvy real estate seeker looking to know if a home in Honolulu, HI has finally come within your financial reach. We've got the scoop on the market here as well as pages upon pages of advice and information from experts that should help you start your search on the right foot. It's not just buyers who will find this website useful, either, there's also plenty of great advice for sellers. Just take a look around.
Honolulu, Hawaii: The Sheltered Bay
The translation of the name "Honolulu" in the Hawaiian language is "sheltered bay," which makes the city sound like a quiet ocean haven. At one point in its history that was true, but for the last several decades Honolulu has been the primary city on the islands in terms of residency, tourism, and commerce. The population sits at over 375,000, with more people arriving every year to take in the views of sparkling ocean, waving palm trees, and towering volcano. Will you be the next Honolulu, HI home owner?
All of Honolulu, Hawaii's major job sectors are heavily reliant on transport from other parts of the world. Honolulu's hospitals and retail stores are stocked with items imported via the Port of Honolulu, which is one of the busiest in the Pacific. Many of the over 30,000 students at local education institutes like the University of Hawaii come from outside the islands. And, of course, the hospitality and entertainment sectors do big business because of the floods of tourists arriving daily from all over the world. The island's dependence on trade means that the port and the airport are two of its economy's most important features.
Honolulu, HI's natural beauty combined with the city's tourism focus means that as a resident you'll never be stuck without anything to do. The Honolulu Academy of the Arts has a huge collection of Asian and Western Art while the Hawaii State Museum features pieces by local artists. Learn about natural history at the Bishop Museum or by visiting the Honolulu Zoo. Experience Hawaiian culture at the 'Iolani Palace or by eating local fare in one of the many restaurants. And of course, there are the most popular forms of recreation: swimming, surfing, and hiking around the Diamond Head volcano and the beaches of Waikiki.
Neighborhoods and Home Styles in Honolulu, HI
And now for the big question: how much does a home is Honolulu, Hawaii actually cost, anyway? Two years ago, the answer was "a lot." The median house or condo value in 2007 was $604,000. Today, in 2009, the median sales price for a house is closer to $450,000. While this is still quite steep, it is a significant savings. Before jumping into a home purchase, though, you should also note that the cost of living in Honolulu, HI is significantly above average - more than 82 points above the national value. You'll want to take that into your budget considerations.
Having established how much homes cost, what type of home can you get? Despite the high population density, there are a lot of single family homes in all sizes, from small ones affordable to middle class families to enormous beachfront villas owned by reclusive movie stars. Condos are also popular in Honolulu, Hawaii as well, because by stacking residences more people can get the coveted water view.
Which neighborhood you choose depends greatly on your budget. Among the most popular neighborhoods right now are Waikiki and Hawaii Kai, which list at $470,000 and over 2 million respectively. Higher priced home are also found in Kahala and Waialae while Palama and Kalihi are generally considered to be more affordable and are among the most popular neighborhoods among working class people.
Contact a Honolulu, HI Real Estate Agent
No doubt if you've just discovered you can actually afford to buy a home in Honolulu, Hawaii, you're over the moon with excitement. Before you jump right into the real estate market, however, you should make sure you've got a trusted advisor on your side to keep you from making any pitfalls on your journey. Our Honolulu, Hawaii real estate agents are those trusted advisors. Whether you're buying or selling, simply contact us today and we'll handle the rest.
