Premiere resource for buying and selling Honolulu Real Estate - Honolulu - Oahu - Hawaii.
Contact Us Subscribe
  • Powered by MBC DirectoryMaker
  • Opposition To New Construction Will Increase Prices

Opposition To New Construction Will Increase Prices

Time and again I have stated that I believe Honolulu property prices will rise over the middle to long term. A recent article in the Honolulu Advertiser shows the opposition that almost all new development faces on Oahu. What opponents seem to miss is that by slowing growth, they increase demand and therefore inadvertently increase the cost of housing.

"A few hundred voices, largely in opposition to the project, were added to the record in the case in which Castle & Cooke Homes is seeking approval to urbanize 768 acres of prime farmland between Mililani and Waipi’o for development of 5,000 new homes, a 28-acre medical campus, a 150-room hotel, parks, two elementary schools and nearly 500,000 square feet of commercial space for retail, offices and light industrial businesses."


Note that they are talking about adding 5,000 new homes to a market that could probably absorb every single one. Here's my bet. This project will take five to ten more years before they get approvals to build. Therefore, our housing supply will continue to shrink and that means demand will continue to strengthen. This excess demand will add value to existing homes. If you own now, expect your home to be worth significantly more 10 years from now. If you don't own yet, then buy what you can afford (house or condo) to get into the market, because if you don't, you may not be able to buy as prices rise.


If you would like to discuss your real estate needs, feel free to contact me. You can .

More Video Blogs

Why A Buyer Shouldn't Buy

Honolulu Home Median Price of $1,000,000

Buying more might make your retirement better

Sellers Beware Of Company Addenda

Sellers Get Your Surveys In Advance

Are Realtors Paid Too Much?

ref no:11343

Like Our Facebook


    Please send questions about this website to
    Copyright© 2007 - 2017 KU Realty, LLC / Honolulu Real Estate Views. All rights reserved.
    Terms of Use / Legal Disclaimer / Privacy Statement
    Site Designed and Managed by
    MacBusiness Consulting