Archive for the 'Military' Category
Military Moving To Honolulu? Here Are A Few Helpful Web Links
March 13th, 2009 categories: Military
If you are moving to any of Honolulu’s military bases, these links could be helpful with getting organized and planning.
Information on Oahu’s schools (public and private)
State Web-site for bringing pets to Hawaii
Hale Koa Military Hotel
Military Newcomers Guide-Honolulu Advertiser
My blog on “Things To Know” about moving to Honolulu
Pearl Harbor Naval Exchange
Retail Services at Schofield Barracks
Marine Corp Exchange-Kaneohe Bay
Marine Corp Officers Club-Kaneohe Bay
Hickam AFB Tradewinds Enlisted Club
CLICK HERE TO SEARCH FOR YOUR NEW HOME.
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.
| Discussion: 1 Comment »
Re-sale Should Be Part Of Purchase Plan
March 9th, 2009 categories: For Buyers, Military
For any buyers, especially military buyer’s PCS’ing to an Oahu military base, it is very important to consider how salable a property will be when it is time to sell. Since most military transferees come to Honolulu on orders that last for 3 years, their experience of the Honolulu real estate market is an expedited microcosm of that which is experienced by regular buyers over the long term. Here are the nine things that will make it easier for you to sell when you leave our sunny shores.
1.) Location. Notice I did not write location 3 times. The location I am speaking of has to do with the actual physical attributes concerning the positioning of a property. The following may make the sale of a home more difficult.
-Backing up to a busy road.
-A lot located on a busy corner.
-Lot’s of freeway noise.
2.) Historic desirability of a location. There is always part of a town that is known to be a more desirable neighborhood. So when considering your purchase, ask you agent which neighborhoods are considered in this way. In Honolulu, Kahala is an example of one of these communities. Ever since the days of “Hawaii 5-0”, Kahala has been considered one of those neighborhoods that people want and, therefore, its property values and demand have been high. Read the rest of this entry »
| Discussion: No Comments »
Housing Around Hickam Air Force Base Honolulu
March 5th, 2009 categories: Military
This post is for military folks that are PCS’ing to Hickam Air Force Base in Honolulu, Hawaii. If you are planning on living off base (click here to check your BAH), then this post should help you understand the neighborhoods that are in close proximity to Hickam. Note that I have selected areas that within 25 minutes or less of Hickam.
| Discussion: 1 Comment »
Better To Buy In Honolulu Than To Rent!
February 26th, 2009 categories: For Buyers, Military
If you are going to live in Honolulu for less than 2 years, in any real estate market, I have always believed you are better off renting than buying. If Oahu is going to be your home for the mid to long-term, than I advocate purchasing rather than renting. A recent Wall Street Journal article, confirmed that recent drops in values and interest rates have made owning more beneficial than renting.
“Over the past 18 years, after-tax mortgage payments have averaged 26% more than rent payments, according to Green Street Advisors, a real-estate consultancy based in Newport Beach, Calif. In 2006, at the height of the housing bubble, mortgage payments reached as high as 66% more than rent payments. But by the end of 2008, average monthly rent for the largest 50 metropolitan areas was $1,045, compared with after-tax mortgage payments of $1,300, assuming a rate of 5.5% on a 30-year fixed mortgage. That means mortgage payments averaged just 24% more than rent payments, the narrowest gap since 2001.”
CLICK HERE TO READ THE WSJ ARTICLE
The gap between rental rates and mortgage payments are important to consider, but they are not the only reason to buy. Don’t forget these important reasons too.
1. Long-term equity appreciation. I don’t have a crystal ball, but do you think Honolulu real estate values will be higher or lower in 2019?
2. Forced savings. Here is an example, if you obtained a $100,000 loan at 5.5%, that is fully amortized over 30 years, then in 10 years you would owe approximately $82,541! Assuming no appreciation, by paying down the mortgage you will have built equity in your property of $17,459.
3. Stability and control. I have not see statistics, but I will bet you donut that renters move way more often than those who own their home. By owning you control your destiny, no one can give you a 45-day notice to vacate and therefore you life is much more stable.
4. Pride of ownership. As a renter, if you improve your rental when you leave you will not benefit from the improvement. Therefore, most tenants do little to improve their residence. Once a home is owned, I have noticed that the new owners generally begin adding and improving it to their tastes and I think this is because they own it and can take pride in that fact.
5. Decorating to your hearts content. Most landlords try to keep their rental bland, because light carpet and white walls are generally easier to rent than unusual colors and floor coverings. As a renter, you may find it difficult to gain a landlords permission to paint a wall red or blue, or to change the bathroom tile to black granite. Once you own, have at it. Make your home what ever color you like, put up the picture of Elvis and install the bidet.
There are many other reasons to own. Frankly, I think 1 through 5 above far out weigh the gap between rental and mortgage payments. 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.
| Discussion: No Comments »
A Beautiful Place To Live! But The Traffic!
February 26th, 2009 categories: For Buyers, Military, Neighborhoods
The local blog “Aloha Update” has an excellent post on the traffic one faces when commuting from the windward side.
“Monday through Friday, before sunrise, beginning at 6:00 am is when bumper to bumper traffic starts in Kahalu’u around Ahuimanu Road and Ahuimanu Place going towards Kaneohe. In the morning, it can take me about 15 minutes from Ahuimanu Road. to Haiku Road, which is only approximately 3 miles. Without traffic this route should only take about 3 minutes. This morning traffic lasts until about 9:00 am. For the after work flow going the opposite direction from Haiku Road to Kahalu’u, this traffic-jam begins at about 3:00 pm and can last up until 7:00 pm!”
CLICK HERE TO READ THE ENTIRE BLOG.
If you have followed my blog for an extended period of time, you know that I have ranted over and over about the impact of traffic on real estate. Aloha Update’s post confirms the impact of traffic on quality of life and therefore real estate values.
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.
| Discussion: 2 Comments »
Selecting Your Honolulu Home
February 20th, 2009 categories: For Buyers, Military
If you are not from Oahu and you are in the process of transferring to Honolulu as part of your military PCS or company transfer, it is important to select the right home. This decision is driven by your needs in the way of bathrooms, bedrooms and quality of the home and neighborhood. Falling in love with the specific home is easy. Here are 5-macro considerations about Honolulu real estate are more analytical and help you to make a good long-term investment decision. Read the rest of this entry »
| Discussion: No Comments »
You Get Me In Your Honolulu Real Esate Transaction
February 13th, 2009 categories: For Buyers, For Sellers, Military
This blog shows up on page 1 or 2 of organic google searches for many real estate key words pertaining to Honolulu. I took a few minutes to review the websites that showed up in the same proximity. I found them to be of 3 general types. Read the rest of this entry »
| Discussion: 1 Comment »
Should Military Buy Or Rent When PCS’ing to Oahu?
February 12th, 2009 categories: Military
Given the amount of the high amounts of Basic Allowance for Housing (BAH) available for military transferees to Honolulu, there can be a dilemma concerning whether it is better to rent or to buy. Having had the chance to sell homes for many veterans that purchased while stationed here, I can tell you that a Honolulu home or condo turned out to be one of their best investments.
Let me explain. While they lived here they purchased a home using the monthly BAH to cover their monthly mortgage payments. When it was time to move, a property manager was hired and the unit was rented out. Initially, the cash flow may have been negative, but overtime, because of raises in rents, the property began creating a monthly positive income. Most of these former military people kept the home 20 to 30 years and at the time I sold the home for them, their Hawaii property represented one of the largest assets in their retirement investment portfolio!
Here is the downside to renting versus buying. While you live on Oahu you will be able to rent a much nicer home than if you purchased (the rental dollar goes much further than the buying dollar). The BAH makes you the Federal Government your partner in your home carrying costs for the term of your PCS on Oahu! So why not use this money to your advantage? By using the BAH at each of your PCS locations, over a 20 year career you could own 5 or 6 rental properties upon retirement! By purchasing while stationed on Oahu and again at your other postings, you could own over a $1,000,000 in real estate when you return to the private sector.
So, should you rent or buy? I know I am biased, but my recommendation is that you absolutely should buy! If you would like to discuss purchasing, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net too.
| Discussion: No Comments »
A Plan for Military Transferees Moving Honolulu
February 10th, 2009 categories: For Buyers, Military
If you are in the military and your orders have you moving to Honolulu, here is an 8 step plan to help you make your move smooth and easy.
1. Select a real estate broker. This selection is really important. Your agent will become your eyes and ears on the ground. An experienced Realtor can help with advice as to neighborhoods and available housing that are going to best meet your current budget and home needs. Part of the advice will be an eye to the future as most transferees will move again, and buying right on the front end will be the key to being able to sell on the back end.
2. Confirm the amount of your Basic Allowance for Housing (BAH). You may be surprised by the amount available to you! The lowest amount without a dependent is currently $1,555 and the highest amount with a dependent is $3,401. At an interest rate of 5.5% and an amortization term of 30 years, the payment for every $100,000 in loan is approximately $567.00 per month. So the minimum BAH will carry a loan of $274,000. Be sure to check if you qualify for a VA loan too. CLICK HERE TO CHECK YOUR BAH. Read the rest of this entry »
| Discussion: 2 Comments »
VA Loan Amounts For Honolulu Real Estate Rise!
February 5th, 2009 categories: Military, Mortgages & Financing
As of January 1, 2009, the maximum VA loan amount for a house or condo on Oahu is $783,750. This is up from $625,500! If you are active duty military or a veteran, this is a terrific tool for buying Honolulu real estate. Call me locally at 808-737-2093 or toll free at 877-737-2093 to discuss your VA buying options.
CLICK HERE TO GO TO THE VA.
Today’s view is looking over the Pali toward Kailua.
| Discussion: No Comments »
; ?>/images/MatoChiclet.gif)
