Hawaii Real Estate: Opportunities in Paradise

Hawaii. Just the name brings thoughts of tropical subsets, warm, ocean breezes, surfing, basking, just relaxing. Makes you wish you were going there tomorrow, ready for a week or two . . . or three of vacation time.

Obviously, a few weeks in Hawaii on vacation would be nice, but what if you could live in Hawaii year ?round? Hawaii real estate is slowing rapidly. Hundreds of homes, condos, land, even vacation homes, are available today in Hawaii. Wouldn?t you like to live, work raise a family, and enjoy the good life in the Hawaiian Islands?

In January of 2009, a single family home in Hawaii was selling for a median price of $539,500. That?s a drop of 10.1 percent as compared with January of 2008. For a condo, the average selling price is down 5.8 percent since January of ?08, to $305,000. For all the Hawaiian Islands, the total sales dollars generated in the Hawaii real estate market during January of 2009 was $145.6 million. This is a decrease of $199.9 million, or 57.9 percent since January of 2008.

There has never been a better time to consider Hawaii homes. The price is right, the market is loaded, and the sun, sand, and surf are waiting for you. There is a home for you in Hawaii, be it a traditional single family home tucked away among the palm trees in gorgeous Diamond Head area, or a beachfront condo near Waikiki beach on Oahu, or maybe a luxury property on the water in Lanikai, Kailua overlooking two small beautiful islands.

If you would, instead, like to build your own Hawaii home, acres of land are now available throughout the islands. Waterfront property, beachfront or oceanfront property, property in the rolling hills, wherever you?d enjoy Hawaiian living, there?s land available for building.

Perhaps, you?re not yet ready to move to Hawaii. Consider, in that case, investing in a beachfront or inland property in Hawaii, and watch your investment prosper. Hawaii real estate, though admittedly sagging, is not nearly as depressed as the housing market on the mainland. An investment in a Hawaiian home, condo, vacation property, or lot is a lucrative opportunity to take advantage of both the strength of the Hawaii property market, and the favorable opportunities that are, assuredly out there, as well.

Foreclosures, though less prevalent on the islands, are nonetheless available, and ought to be considered. However, timely action is needed to take advantage of these foreclosed properties, as they generally don?t last long, especially in those most desirable locations. Oceanfront and beachfront property in the most desirable areas of the islands will, however, be more expensive, and a bit more difficult to locate and to negotiate.