Honolulu Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Aug. 20, 2019

Hawaii Millennial Home Buyers - Zillow and GoBankingRates

Using data from Zillow, GoBankingRates ranked all 50 states and Washington D.C. to determine which states were the best — and worst — for millennial homebuyers. For the ranking, researchers analyzed the median list price of homes across the country relative to that state's median income for people aged 25 to 34.

In Hawaii, the median millennial salary is $6,076.25 per month, or $72,915 annually, almost $12,000 more than the median millennial salary for the entire U.S., which is $60,932.

Based on this median salary, researchers then calculated how long it would take to save for a 20 percent downpayment on a home in Hawaii if someone put away 20 percent of their salary each month.

The study found that it would take Hawaii homebuyers a little less than 8.5 years, with an average monthly mortgage payment of $3,256 thereafter, based on a median list price of $615,000 for a Hawaii home.

In California, the state taking the No. 49 spot, it would take 8 years for a millennial to put a downpayment on a home, and in Colorado, No. 48, it would take 6 years.

The best place for millennials to buy a home in West Virginia, where it would take just over three years to save up for a 20 percent downpayment on a home.

BUT!!!!.... 

Watch below to know my opinion on this.

 

 

 

Reference Link:

 

BizJournals

 

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Posted in News
Aug. 7, 2019

Did BILL 89, CD2 take Vacation Rentals to a new plight?

Bill 89 - Lifestyle Homes of Hawaii

 

On August 1, 2019, The Bill 89 (2018), CD2, which was signed by Honolulu Mayor Kirk Caldwell into law on June 25, 2019, had has started taking effect. The new regulation on short-term rentals imposes austere penalties to those who are illegally operating and advertising vacation rentals. Initial violation will face up to a $1,000.00 fine with an additional $5,000.00 for noncompliance each day. Repeat violators will be charged with hefty fines of up to $10,000 for each day and confiscation of rental revenue.

 

With the rampant increase of the said illegal vacation rentals, the City and County of Honolulu believe that taking this big step will help better regulate short-term rentals and balance competing views.

 

On the other hand, Matt Middlebrook, Airbnb’s head of policy for Hawaii, said that these will cause a significant blow on the local economy and small businesses - removing thousands of transient units from Oahu’s inventory. In addition, Hawaii tourism, thousands of local jobs, millions of household income and state taxes will now be at stake.

 

What are your thoughts on Honolulu’s vacation rental Bill 89? Did it take Vacation/Short-Term Rentals to a new plight? What do you think will be the effects of the ordinance on our local community?

 

 

Reference Links:

 

KITV

 

BILL 89 (2018), CD2 

 

 

 

Want to know more about your property's current value? ---> Click Here

Posted in News
July 31, 2019

Hawaii News - Jeffrey Samuels | Lifestyle Homes of Hawaii

Why use LifeStyle Homes of Hawaii and Jeffrey Samuels?

 

 

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Jobeth Devera: Selling a home in today’s market can be challenging. However, LifeStyle Homes of Hawaii has all the tools you’ll need. Real Estate Broker Jeffrey Samuels has …

JEFFREY SAMUELS 7.8

 

Learn more about Jeffrey Samuels and his team.

Want to know your property's value? ---> Click Here

Posted in News
March 5, 2018

Captivate the Spirit of North Shore Property

Ponder life in paradise on horseback. Oahu Horseback Rides takes lucky souls alongside gorgeous scenery on North Shore property and beyond. Lush landscapes meet up to oceanfront trails perfect for trotting or cantering through. Horses are a blend of gentle and spirited. A professional team evenly matches animals to their riders. A variety of trips are designed to suit individual needs.

Sunshine rides take advantage of lovely Hawaiian days. Riding up close to the water’s edge folks may get a glimpse of sea turtles, dolphins or other amazing aquatic animals in the waves along the beautiful beaches of North Shore property. A sunset ride is the ideal way to wind down the day. Romantic moments are frequently inspired by brilliant shades of pinks, purples and blues blending together and melting into the sea. Private rides are perfect for those seeking some alone time. Great for couples or small groups wanting time to themselves, private rides are available for two or more patrons. All rides last about an hour to an hour and a half. Guests should arrive thirty minutes prior to scheduled ride times. Closed toe shoes are strongly recommended. Children as young as eight years old can mount up making this a wonderful family friendly activity.

Learn the “Sport of Kings” when Living in North Shore

Residents living in North Shore can learn to play polo like a pro with Oahu Horseback Rides. Active polo ponies are enthusiastic about their sport. Trainers are devoted too and experts on the “sport of kings”. Participants with little riding experience can saddle up and become impressive polo players in no time. After a lesson or two many become hooked, fall in love with polo and become inspiring members of the Hawaii Polo Club.

Awarded a TripAdvisor Certificate of Excellence, Oahu Horseback Rides is the only Oahu company to take the trails straight to the beach. Picture perfect memories are constantly in the making. And, friendly trail guides willingly commemorate occasions by capturing moments on film when requested. Reservations can be made online or by calling 808.220.5153 for more information. Seize the day and spent the ultimate hour in paradise. Don’t let the magic of life pass you by.

 

Posted in News
July 31, 2017

Curious About Local Real Estate?

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates