Honolulu Condo Sweet Spot!
September 30th, 2008 categories: Honolulu Condominiums
Diamond Head vintage home.
As you know I am a bull on most of core Honolulu. As I see it long term, 2 bedrooms and bigger, with 2 baths or more and 2 parking, priced under $500,000 fee simple, is a sweet spot in the Honolulu condominium real estate market. When I searched by these parameters today, I found ten (10) available units in tax map areas 11-8 through 135 (note that I have not included Waikiki in the attached market analysis). Here is why it’s a sweet spot.
First, see my previous post on why core Honolulu is a great mid to long-term play. Second, the majority of condominiums in town have 1 parking stall. Our culture is one where people are going to have more and more automobiles, therefore 2 parking stalls will be more appealing to owner occupants and renters. Thirdly, the second bath is becoming a standard option for the most sought after units. A single bathroom will eventually be perceived as functionally obsolete. By buying under $500,000, you position yourself to be in a portion of the market that seems to hold a great deal of demand.
In summary, if you are thinking about buying in Honolulu, this may be a very sound section of the market to target.
OTHER POSTS WORTH READING!
Honolulu Rental Rates
Loans For College Condos
The Value Of A Realtor
Realtor Code of Ethics
Determining Offering Prices
Pricing Your Home
Long Term Investment Makes Sense
As always great info!
That looks like one of the Genshiro Kawamoto homes!
Being broke ass myself trying to raise a wife and a kid… and my wife being Hawaiian… I sure would have liked to score one of those free houses at the times…
Even though the guy is very questionable.