If you were thinking is now a good time to sell and live in West Oahu I can tell you the answer is 1000% YES. Many people have had serious reservations about selling during a pandemic, but this has only created very limited inventory. Obviously, everyone’s health and wellness are top of mind, and the agents in Hawaii are, for the most part heeding the warning and taking all necessary precautions. For showings, masks and gloves are required, small groups and social distancing are a must. The use of Matterport, a 3D technology, helps buyers see a home virtually and elements the need to see a home if you are not 100% that it works for your needs. This can help cut down on potentially getting yourself or others sick by viewing first virtually and seeing in-person second.
Ewa Beach / Kapolei
As of now, the Ewa Beach/Kapolei markets are on fire. This is also spilling out to neighborhoods like Ko Olina and Makakilo, which traditionally have had longer days on market, but now are moving fast. The lower interest rates are certainly helping fuel the buyers. We are seeing rates continue to break new lows and how long this might last is anyone’s guess. With the high rents and lower interest rates, those who thought they could only rent should reevaluate and see if they can now buy.
Homes in all price points are going into contract in days. They are now receiving multiple offers and in many cases selling above the asking price. So far the appraisals have been holding up and matching the sales price. This is definitely the time if you want to buy and make an offer that you have all your ducks in a row so to speak. The offers are competitive and a seasoned agent is needed so a clean and competitive offer can be written. If a seller has multiple offers, a straight forward purchase contract at the buyer’s best and highest will help get the deal done.
PCSing to Hawaii
The military is back PCSing (moving the military members to new duty stations), and this means sellers are moving and buyers are rotating in. The traditional time for a military member stationed in Hawaii is three years. The summer months are always prime time for military moves. There is generally the same amount of people coming as going.
Want to Know More?
If you want to see what your home is worth, want more information about buying on Oahu, or just want to explore options, please feel free to get in touch with me. I can be reached by phone, text or email at any time.
Larry/Ging
July 22, 2020
We are trying to find a place in Hawii through VA financing. A cheap one.