How does the Hawaii real estate market look like?
Posted by Louie Drake on Wednesday, May 17, 2017 Under: Real Estate
More than 10 years after the housing bubble and the ensuing financial crisis, how does the Hawaii real estatemarket look like? How good are the prospects when it comes to buying and selling properties – especially in the luxury segment? What factors will continue to drive home and lot sales in this side of the States?
This article attempts to answer these questions and more.
According to Harold Clarke of Luxury Big Island, the future is looking good for the real estate of the Aloha State, with the recent years showing a consistent growth. By 2015, Harold said,there had been a balance when it comes to the number of people aiming to sell, and aiming to buy. That is a sign of healthy market, because when the ratio is markedly skewed towards sellers – or when there are significantly more properties than buyers – the value of homes and lots go down. On the other hand, if there is a dearth in properties, even the low-quality ones can fetch a huge sum, which is not a good scenario for interested buyers.
For his part, Harold has been successful in arranging the sale of some of the highest-priced properties in Big Island, Hawaii – a feat that he considers a good sign for the local real estate market. The recent sales were villas and condos in Mauna Kea Resort, Mauna Kea Fairways South, and Villas at Mauna Kea. He had also listed properties in Bluffs, Waiulaula, and Kaunaoa, and these had price tags ranging from $1.099M, all the way to $19.5 M.
Harold welcomes the huge interest among foreign investors – especially from China – as a boon to the US real estate market. He notes that many Chinese are looking westward as they seek education for their children as well as new business opportunities. In addition, buyers of Hawaii properties also come from Hong Kong, Canada, Singapore, and Switzerland.
For Big Island in particular, Harold shares that he had, in fact, brokered luxury real estate transactions with some Chinese buyers. Along with other visitors placing their bet on the Aloha State, they are likely to be part of the thriving economy that Hawaii is experiencing these days, with tourism and construction spurring much of the growth. And it greatly helps that Hawaii is home to some of the finest hotels in America, if not the world: Four Seasons Hualalai, Four Seasons Resort Lanai, Ritz-Carlton at Kapalua, and Four Seasons Wailea.
Get in touch with Harold Clarke to know more about Hawaii real estate.
This article attempts to answer these questions and more.
According to Harold Clarke of Luxury Big Island, the future is looking good for the real estate of the Aloha State, with the recent years showing a consistent growth. By 2015, Harold said,there had been a balance when it comes to the number of people aiming to sell, and aiming to buy. That is a sign of healthy market, because when the ratio is markedly skewed towards sellers – or when there are significantly more properties than buyers – the value of homes and lots go down. On the other hand, if there is a dearth in properties, even the low-quality ones can fetch a huge sum, which is not a good scenario for interested buyers.
For his part, Harold has been successful in arranging the sale of some of the highest-priced properties in Big Island, Hawaii – a feat that he considers a good sign for the local real estate market. The recent sales were villas and condos in Mauna Kea Resort, Mauna Kea Fairways South, and Villas at Mauna Kea. He had also listed properties in Bluffs, Waiulaula, and Kaunaoa, and these had price tags ranging from $1.099M, all the way to $19.5 M.
Harold welcomes the huge interest among foreign investors – especially from China – as a boon to the US real estate market. He notes that many Chinese are looking westward as they seek education for their children as well as new business opportunities. In addition, buyers of Hawaii properties also come from Hong Kong, Canada, Singapore, and Switzerland.
For Big Island in particular, Harold shares that he had, in fact, brokered luxury real estate transactions with some Chinese buyers. Along with other visitors placing their bet on the Aloha State, they are likely to be part of the thriving economy that Hawaii is experiencing these days, with tourism and construction spurring much of the growth. And it greatly helps that Hawaii is home to some of the finest hotels in America, if not the world: Four Seasons Hualalai, Four Seasons Resort Lanai, Ritz-Carlton at Kapalua, and Four Seasons Wailea.
Get in touch with Harold Clarke to know more about Hawaii real estate.
In : Real Estate
