Affordable Housing in Ewa Beach/Kapolei

There has been lots of talk about the rising home prices in Hawaii as of lately. With the latest report out from the Honolulu Board of Realtors showing the median price in June 2017 hitting $795K, you might wonder where are these prices going. Certain parts of the island have always commanded higher prices such as Kailua, Hawaii Kai, and Kaneohe, but as of recently, many buyers have started to take notice of the values out west in areas such as Makakilo, Kapolei and Ewa Beach. In comparison to the other parts of the island, the west is looking fairly affordable. The west is often known as the hotter, dryer side of Oahu. One of the larger issues with buyers seems to be the concern with traffic. This is absolutely an issue depending on your drive times, and we are still awaiting the start of the light rail system that will begin in the Kapolei/Ewa borders and head towards town.

The interesting part about all this is from a real estate perspective is the value of the properties. You can come into these communities and still buy a newer, larger home for less money than in other parts of Oahu. Most properties in town will be smaller in size, older, and range closer to the $1M mark. In comparison, you can buy a larger house in Ewa Beach that was built within the last 10 years in the $600K range. When you stop and think about getting larger, newer home and saving hundreds of thousands of dollars, the drive becomes less of a concern. This is in addition to the fact that affordable townhouse can still be purchased in the $300-$400K range. Some of the brand new townhouses in Hoakalei are now reaching the mid $600 range, but there are other less expensive options as well. Small studios in town with no parking can be the same price is these larger 2 bedroom properties with garages.

With that said, we are now seeing a huge explosion of commercial businesses scrambling to service these growing communities. This means that with more business bringing goods and services out west, the residents will not have to travel into town as often. Of course, your job still dictates the commute, but with so many new business opening, there will be many jobs that need to be filled. If you are looking, you can truly find a house, job, and community that is all in the same area.

The interest rates continue to stay at 40-year lows. The home prices continue to rise historically over the last 5 years but remain stable. The prices of homes are growing slowly and not spiking up and down as it has done in years past. This is a great time to reevaluate purchasing your own slice of paradise. The rental market is on the rise with prices usually outpacing a mortgage so buying usually makes better financial sense.

If you want more information about the west or anything island-wide, please do not hesitate to get in touch with me.

Comments (4) Show CommentsHide Comments (Remember)

Cool. Add your comment...

Your email address will not be published. Required fields are marked *

Leave your opinion here. Please be nice. Your Email address will be kept private, this form is secure and we never spam you.

Michael noda

August 5, 2017

I am interested lower priced town home in Ewa area. Please send me more information

I am about to retire and considering 2nd/ winter home.

David Lundstrom

August 5, 2017

> Aloha Michael

Thank your for your email and response to my blog. I am going to send you a personal email now but please feel free to reach out any time to chat. I am more then happy to help in anyway I can.

peter n brown

August 8, 2017

what type of income do i need to make to be able to afford a home there my income now 100k, i work for DoD.. i have no savings and im 53 yrs old.

David Lundstrom

August 8, 2017

Aloha Peter

Thank you again for emailing and responding to my blog. I just sent you an email with some more information and to see if you wanted to chat with one of my local preferred lenders. I look forward to speaking with you further.

More Articles from Hawaii Life