Archive for the 'Schools' Category
Schools Could Add To Honolulu Real Estate Appreciation
September 23rd, 2009 categories: Schools
A recent article in the Wall Street Journal about public charter schools in New York inspired me to write about the impact of good public schools on Honolulu real estate values. Read the rest of this entry »
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Save Tons Of Money…Buy In The Right School District!
October 10th, 2008 categories: For Sellers, Schools
Hawaii Real Estate Reporter has an excellent post regarding the ratings and rankings of Hawaii’s public schools. Given that our private schools are so expensive ($17,000 a year plus or minus), if you can buy a home in a good public school district you could save quite a bit of money. Below is an excerpt from the blog.
“Good standing, unconditional – 80 schools, or 29 percent
Good standing, pending – 65 schools, or 23 percent
School improvement, Year 1 – 14 schools, or 5 percent
School improvement, Year 2 – 65 schools, or 23 percent
Corrective action – 2 schools, or 1 percent
Planning for restructuring – 13 schools, or 5 percent
Restructuring – 40 schools, or 14 percent”
CLICK HERE TO READ THE ENTIRE POST.
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College Student Bound for Honolulu? Buy A Condo!
August 19th, 2008 categories: Rants & Riffs, Schools
Consider using your room and board to buy a condo, instead of sending to the college! Why not use that money to invest in real estate? The FHA has created a loan program for this very purpose. Wells Fargo Home Loan calls it the “Kiddy Condo” loan.
Here is an overview.
•Down payment-2.25% ($2,250 for every $100,000).
•Your son or daughter must live in the apartment.
•The student need not have income or credit.
•Standard FHA rates and terms will apply.
•The unit must be located near a college campus.
•The condo must be FHA approved and have at least 51% owner occupancy.
(This information was taken from a flyer provided by Well Fargo Home Mortgage)
Call me if you would like to find a building that will meet these requirements. I can be reached at 808-737-2093.
Today’s picture is of Aloha Tower Market Place.
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Can A School Have An Impact on Honolulu Real Estate Values?
June 5th, 2008 categories: For Buyers, Schools
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.
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Schools and why the matter to values in Honolulu!
March 19th, 2008 categories: For Buyers, Schools
My children attend a private school, as do the children of almost anyone on Oahu that has the ability to pay for private education. Oahu’s public schools can rank in the lowest ranges in the Nation and our private schools are among the best. You maybe thinking, “Why is this real estate blogger talking about the schooling of children?” And I will answer your question with another question. Where are the majority of Oahu’s private schools, good public schools and higher education institutions? I am sure you have already guessed that they are in core Honolulu!
The fact that there are so many good schools in this area is another reason that 
I see long term values in Honolulu outperforming any other location on the island. As far as I know, none of the major or minor private schools (Punahou, Kamehameha or Iolani) have any plans to move their campuses from their current in town locations. This means that you have a significant number of people who are traveling to this core area every single school day. Many already live in the area and many others are fighting the traffic each morning and evening to get their kids to school. Many children start at private schools in kindergarten, meaning Mom and Dad can spend up to 13 years driving to and from school at least twice a day (wait until the children start playing sports and doing other after school activities). Add another child to the equation and you begin to understand that the driving can go on and on and on. With nearly 20 private schools, 4 Universities and community colleges, it becomes easy to see that this creates another reason for strong demand for real estate in core Honolulu.
The final educational motivational factor is that most of the good public schools on Oahu are located in core Honolulu too (Mae Mae Elementary, Noelani Elementary, Waialae Elementary, Wailupe Elementary, Niu Valley Elementary, Kalani High School and Kaiser High School)! The easiest way to avoid the $16,000 per year for private school is to move into one of these school districts.
If you can’t do that there is the very competitive district exemption available for the lucky few. Saving $16,000 per year is powerful motivation to move into an acceptable public school district!
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