Honolulu Should Be Thankful For the Military!

June 24th, 2009 categories: Military

Without any hard numbers to back-up my assumptions, I have always known that the military in Honolulu has significant impact on the island economy. Mark Bratton, of the commercial real estate company Colliers Monroe and Freidlander, has a terrific blog post full of numbers that confirm the role the military plays as an economic engine in Hawaii.

“The military and Federal Government combined in our state is holding up the entire economy on the Island of Oahu. Military construction has not receded, it continues. They are in the process of building housing on Oahu, 10,000 homes by Actus and an additional 4,500 homes over the next few years as replacements for military personnel. There are 102,000 people with the military, mostly based on the Island of Oahu. The military has 18,000 direct jobs that we know of and spending approximately $1 billion/year.”
CLICK HERE TO READ THE ENTIRE POST ON THE MILITARY IN HAWAII

A number not considered in the post is the impact of the Off Base Housing Allowances (BAH). Given the amounts available for covering monthly off base housing costs, there are many annual sales attributable to the military. This additional military buying power and demand adds fuel to the long-term strong Oahu real estate values.

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If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.

OTHER HONOLULU REAL ESTATE POSTS WORTH READING
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Off Base Housing Allowances-BAH

This entry was posted on Wednesday, June 24th, 2009 at 1:54 pm and is filed under Military. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.