Honolulu Undressed

Can I Afford a Home in Hawaii?

Most folks automatically think home prices in Honolulu, and Hawaii are so high only the rich and famous are able to afford them.  Sure, Oprah owns a home or two in Hawaii, and lots of acreage on Maui, I understand.  Michelle Pfeiffer owns a property down the street from me past the Paul Mitchell estate.  Did you know Paul died years ago eating Puffer fish? One of Don Ho’s homes recently sold just past Michelle’s home for just over $5 Million that his children used.  I can’t even begin to afford their side of the street.  The list goes on.  Why, even Senator Barack Obama is a native of Hawaii.  I’m not certain if he owns a home here, but he might consider that if he follows our Honolulu Real Estate Blog.  Though there are plenty of homes around the Hawaiian Islands owned by the rich and famous, there countless more that are not.  Many are surprisingly affordable.   

There are homes and condo’s available throughout Honolulu, and Hawaii in general that fit most everyone’s home buying budget – or possibly 2^nd home budget.  Downtown Honolulu condo’s that are one bedroom and one bath – and fully remodeled can be had from the mid $200’s on up.  Many with decent views and include a parking space or two. I know of one coming on the market soon in a high rise adjacent to the Ala Wai canal in Waikiki in the mid $300’s. From downtown Honolulu to Ewa, and Hawaii Kai to Kailua/Kaneohe, there are countless two and three bedroom condos available in the mid $400-600’s.  Some are even brand new.  Many have amenities like views, pools, spas, parking, tennis courts and more.  Homes will typically start in around the mid $600’s and $700’s with lots to choose from.  So, to get to that million dollar property and higher – you typically have additional requirements that most often include a particular neighborhood or area like waterfront, or close to the water.  The property taxes in Honolulu and on Oahu compared nationwide are respectably low too considering Honolulu and Hawaii as a whole is a tropical paradise.