Your Oahu Real Estate Piggy Bank

Hawaii Home on Noela Drive
We sold this home on Noela Drive last year

It’s true:  Oahu is home to some of the highest home prices in the nation.  Outsiders visit, are stunned by the prices and can’t imagine how anyone can possibly afford to live here!   The answer is, with good real estate and mortgage professionals, people find a way.

But why?  Why do people go out on such a limb of debt to own a home on the Island?  Of course there are a lot of reasons, but the most compelling may be our historic rate of appreciation.  Anyone buying real estate on Oahu today can be reasonably confident that their property will be worth more and more as time goes by.  Take a look at the chart from the Honolulu Board of Realtors.  It shows historic appreciation rates going back to 1985.  I understand that the type is small and may be hard to read, but if you’ll click on the chart, a version will appear that will allow you to zoom in.

Chart: Oahu Historic Appreciation Rates

As fascinating a the chart is, what’s important is this:

The median price of single family homes on Oahu has risen 341.4% since 1985, an average increase of 4.91% per year.  If you’d bought that median priced home in 1985 for $158,600 (which at the time seemed HUGE), your property would be worth more than $700,000 today!  That’s a pretty nice increase in equity!

Add to that the tremendous tax deductions available to homeowners (notably mortgage interest and property taxes) and you can understand why home buyers pull out all the stops to acquire their own little piece of our Island Paradise.  Honestly, if you’re going to live here, it’s the only thing that makes sense!

The key is in the first paragraph of this post:  you have to find a way.  At Help-U-Sell Honolulu Properties we’ve been helping home buyers find a way for almost 20 years.  It’s gratifying to help our clients build their nest eggs and even achieve wealth while enjoying a little Heaven on Earth.  If you are just moving to Oahu or are still renting, let us help you find a way to own a home.  As you can see from the data, every year you wait makes it more difficult.

Help-U-Sell Honolulu Properties is a full service real estate company that provides exceptional service while charging less than ordinary Realtors.  We’ve been successfully helping buyers and sellers all over Oahu for more than 12 years and we’d be delighted to help you achieve your housing dreams.  Contact us at (808) 593-8811, or visit our website.  

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