Can A School Have An Impact on Honolulu Real Estate Values?
June 5th, 2008 categories: Honolulu Real Estate 101
I attended the oldest High School west of the Rocky Mountains, Lahainaluna, on Maui. It was founded in 1831, but this is not the institution of which I write today. Punahou school, in Honolulu, was founded in 1841 and is considered one of the best schools in the country. It’s graduates include Barack Obama (if you live under a rock…the presidential candidate), Steve Case (founder of AOL), Michelle Wie (golfer), professional football players Mark Tuinei and Mose Tatupu to name a few. For much of Hawaii’s history, Punahou has provided many of the community and business leaders of Hawaii. So how does this impact the value of Honolulu real estate?
1. The pebble on the pond. Kindergarten through 12th grade has an enrollment of 3750 students. Assume that the families of its students would like to be as close as they can to the school and you can see that Punahou creates demand for homes in the Honolulu.
2. Jobs. Punahou is one of the largest private schools in the country. Imagine all of the teachers, support staff and maintenance people necessary to keep this giant running. Another huge supply of demand for homes in the immediate area.
3. Alumni. I am sure somewhere in the world there are alumni more loyal and engaged than Punahou’s. Maybe football fans in the SEC. If there are, I have yet to meet them. Punahou grads want there kids to attend the school. Many work or volunteer on campus and, again, here is another supply of ready buyers.
I find it interesting that Punahou is the oldest school on Oahu and that many other fine schools have chosen to establish their bases within two miles of it. Maryknoll, Mid Pacific Institute, Hana Hauoli School, Our Redeemer Lutheran School, the UH Lab School and Noelani Elementary School to name a few. Combine the demand created by Punahou with that created by these schools and you can understand that there is a supply of tremendous demand for Honolulu housing.
Today’s picture is of the heart and soul of Punahou. Known as Ka Punahou this is the spring that provides much of the water used at the school.
