HOME > Appeal of Hawaii’s Real Estate Market

Appeal of Hawaii’s Real Estate Market

The Majestic Islands of Hawaii

The stability of the dollar makes the United States a desirable country for purchasing real estate. Part of this country is also one of the most attractive tropical island resorts in the world, the islands of Hawaii. With its beautiful beaches, mild climate, relative safety, and comfortable living environment, Hawaii is one of the most popular locations for real estate purchase. Furthermore, its history of interrelation with Japanese culture also gives this location a familiar air to Japanese tourists and prospective buyers. Another attractive quality is the constant flow of visitors including tourists, immigrants, retired employees, students, etc that make the occupancy rate of real estate high, and vacancy risk low.

Including Hawaii’s economic and political center, Oahu (which consists Hawaii’s capital city, Honolulu), there are six islands in total. These islands neighboring Oahu are also extremely popular, with significant numbers of visitors throughout the entire year. On these islands visitors enjoy a variety of activities from golf, marine sports, and off-road drives - or best of all, to engulf one in Hawaii’s sublime natural landscapes.

Kauafi OfahuMolokafiLanafiMauiHawaifi

On Oahu (certainly the most popular of the aforementioned islands), 89% of its land mass is utilized by the U.S. government for military purposes. Other parts of the land are also limited to development due to strict environmental preservation regulations. Oahu’s limited land space adds value to existing properties ? statistics show that within the last 40 years there is, on average, a steady, annual 10% increase in real estate value despite fluctuations in the economy. During the year 2011, listing properties have become more and more rare, and the general tendency during the year 2012 was that popular real estate were purchased within one week of it being listed. These observations clearly indicate how Hawaii’s real estate market recieves much attention.

Movement in Yen (Past 25 Years)
A Hot Market: Kaka’ako District

Kaka’ako is a district in Honolulu that has recently been gathering much attention. Stretching from Ala Moana Center’s West end all the way Downtown, this district saw robust movements in construction within the last couple of years, including Nauru Tower in 1990, Hawaiki Tower in 1999, Hokua and Ko’olani in 2006, Moana Pacific and 909 Kapiolani in 2007, Keola Lai in 2008, and Pacifica Honolulu in 2011. Future development plans that follow this construction trend include two condominiums with anticipated completion dates in 2015, Waihonua (between Hawaiki Tower and Kofolani) and One Ala Moana (above Nordstrom at Ala Moana Center).

Conveniently, the commercial planning that surrounds these residential structures is keeping up with great momentum. There is a Japanese supermarket, Nijiya, located on the West end of Ala Moana Center, as well as many gourmet restaurants and cafes, including but not limited to Tango, Panya Bistro, Bernini Italian, Kyoto Cuisine Nanzan Girogiro, Izakaya Tairyo, etc. Also, one of the trendiest furniture stores in Honolulu, Inspirations, is located on the first floor of Moana Pacific, and luxury car dealerships for brand names such as BMW, Lexus, Porsche, Range Rover, Acura, etc. is right around the corner.

Within this exciting community, though, lately the talk of the hour has been in regards to the newly developing gWard Village.h The mystery behind this project was dissolved in 2012, October, when Howard Hughes (Developer of mega projects including Ala Moana and Ward Centers, and others in over 16 states in the U.S.) announced its visions. According to Howard Hughes, within the next 15 years, 60 acres worth of the Ward area will be developed into an gurban village,h which entails the construction of 22 condominiums (4,300 units), and in the gaps more retail spaces, restaurants, and entertainment facilities. The project is supervised with utmost attention to detail - an example of this is would be that each condominium is planned to be built, not autonomously, but relative to the other structures in the village so none of the ocean views will not be obstructed; the village is planned with focus on its entirety, so that everything flows without disjunction. The first phase of the village includes Anaha (1108 Auahi), and undoubtedly the most monumental of all anticipated structures, Waiea (1118 Ala Moana), designed by world-renowned architect, James Cheng.

With much attention and dedication to the development of this newly emerging Kaka’ako distrct, it seems only a matter of time before it transforms itself to the new center of Honolulu.

Search
Search
Search
Updated Daily!
Atsuko Satofs Hawaii Real Estate Blog
Media/Press Release Hawaii Real Estate MOVIE
Official Facebook Page
Updated Daily!
DESIGNING CREATIVE
CYP CORPORATION
DESIGNING CREATIVE
AD
AD
AD
AD