Home > Hawaii

Hawaii Real Estate Trends – Getting Ahead

August 1, 2023

Hawaii Hard Money Lending

With increasing environmental awareness and commitment to sustainability, we might see more eco-friendly building materials and energy-efficient home designs becoming popular in Hawaii.

Smart home technology and connected devices may become more widespread in homes across Hawaii, offering residents greater convenience, efficiency, and security.

With a continued focus on sustainable development, innovative architectural styles, and balanced growth, the Hawaii real estate market is undoubtedly set to maintain its position as a desirable and competitive landscape for years to come.

The current trends in the Hawaii real estate market include increasing home prices, low inventory, a high demand for properties, a shift towards remote work, and a growing interest in eco-friendly homes.

The highest demand in Hawaii real estate can be found in areas such as Honolulu, Oahu, Maui, and Kauai. These areas are popular due to their natural beauty, job opportunities, and a range of amenities. Additionally, remote workers are seeking properties in areas with good internet connectivity and close proximity to outdoor activities.

Single-family homes, luxury properties with ocean views or beach access, and eco-friendly homes with sustainable features are among the most sought-after property types in the Hawaii real estate market. Remote workers and families are also looking for properties with ample living and outdoor space, updated home office areas, and proximity to schools, shopping centers, and recreational areas.

So, if you want to get a step up in the Hawaii real estate market, consider a Private Money loan which is fast, alternative, forgiving, has no credit requirements, no DTI requirements and can work with difficult to prove income.  Call Sun Pacific Mortgage & Real Estate at 707-523-2099 or reach out via our website as www.Sunpacificmortgage.com

 

Is Hawaii Real Estate a Good Investment?

June 20, 2023

Hawaii Hard Money Lending

Investing in real estate can be like playing Monopoly: buy a property; generate rental income property; buy more properties; hedge against inflation; and see the cash flow. Real estate is a great investment for a variety of reasons, and historically Hawaii real estate has been an excellent portfolio choice.

What are the reasons anyone should invest in Hawaii real estate? Chief among the reasons is appreciation. While the Hawaii real estate market does have its ups and downs, historically it has always had steady appreciation, and the downs are not as drastic as in the U.S. Mainland. Since 1972, the long-term average annual appreciation has hovered around 6% for a single-family home and 5.4% for a condo.

In recent years, average sales prices for Hawaii homes have continued to increase. Oahu median sales prices have increased year-over-year around 70% of the time since 1985.

If you find yourselves sitting on a substantial amount of equity because of the large appreciation California homes have experienced over the past several years, consider tapping into it to invest in Hawaii real estate. Hawaii real estate is typically a safe and rewarding investment. Now, with Sun Pacific Mortgage, you can be an investor in Hawaii real estate without the hassle of being an “absentee landlord”.

Interested? Call 707-523-2099 or find us at www.sunpacificmortgage.com.

Looking to Buy a House on Maui?

June 13, 2023

Maui Meadows Maui Scaled Maui Offers Tons Of Real Estate Variety For Those Looking To Buy A Piece Of Maui Real Estate. Upcountry Maui Real Estate Is Located At Elevations Between 1,000 And 4,000 Feet Above Sea Level Where The Air Is Cooler. North Shore Puts You Right In The Heart Of One Of The World’s Favorite Surfing Spots, And Kihei, Makena, And Wailea Offer Plenty Of Tourism Attractions Along With Lahaina, Ka’anapali And Wailuku.

Maui offers tons of real estate variety for those looking to buy a piece of Maui real estate. Upcountry Maui real estate is located at elevations between 1,000 and 4,000 feet above sea level where the air is cooler. North Shore puts you right in the heart of one of the world’s favorite surfing spots, and Kihei, Makena, and Wailea offer plenty of tourism attractions along with Lahaina, Ka’anapali and Wailuku.

There is no major city in Maui. This Valley Isle is known for its unique beauty, incredible beaches, charming small towns, and some of the best surfing destinations in the world. Its rich farming tradition provides an elevated culinary experience as well.

Maui is the second largest island in Hawaii and although some countries saw a drop in home prices at the start of the new year, Maui County was the only one in the state to exceed a $1million median for single-family homes.

The median sales price for Maui County single-family homes in January was $1.2 million, a 0.4% increase from the same month last year.

If you are considering a primary home, a second home or an investment property in Maui, give Sun Pacific Mortgage & Real Estate a call at 707-523-2099 to find out the many benefits of Private Money loans.

These fast and unique mortgages are based on the equity of the home being purchased, not on your credit scores. We offer mortgages to those borrowers who find it difficult to prove their income.  Additionally, we close our loans in 2 weeks on average with many done in less than 1 week. Find more information at www.Sunpacificmortgage.com and we look forward to being able to help.

Honolulu Housing Market Trends

May 16, 2023

Honolulu Real Estate

In March 2023, Honolulu home prices were up 9.0% compared to last year, selling for a median price of $594,000. On average, homes in Honolulu sell after 78 days on the market compared to 56 days last year. There were 316 homes sold in March 2023, down from 467 last year.

Between January 2023 and March 2023, 40% of Honolulu homebuyers searched for homes outside of Honolulu, while 60% looked to stay within the metropolitan area.  San Francisco homebuyers were the top metro who searched to move to Honolulu.

Looking at all of Hawaii, in March 2023 there were 5,062 homes for sale, down 10.6% year over year. The market remains in the seller’s court, much like the rest of the mainland.

For Homebuyers, Homeowners, Real Estate agents and conventional Mortgage Brokers, Sun Pacific Mortgage & Real Estate’s fast, alternative Private Money mortgage programs can be of great benefit to today’s real estate market in Hawaii.

This type of real estate loans can provide 10 day closes or less! There is no debt-to-income ratio requirements nor credit requirements!  Financing is offering in each of the main areas of Hawaii, including: Hawaii County, Honolulu County, Kauai County, and Maui County.

If you are shopping for a second home in one of these counties or want to pull cash out of real estate for some business purpose,  give us a call at 707-523-2099 or email us through our website at www.Sunpacificmortgage.com