Property for sale in Hawaii
Hawaii is an isolated volcanic archipelago in the central Pacific. The islands are well-known for the wild landscapes of cliffs, waterfalls, tropical vegetation and golden, red, black and even green sand beaches. Honolulu is the capital and is the most populous city and it is located in Oahu.
They are also one of the two states with Alaska not to belong to the so-called contiguous United States.
The main islands of the archipelago are eight: Niihau, Kauai, Oahu, Molokai, Lanai, Kahoolawe, Maui and the island of Hawaii. The last one is also the largest one and it is often called "The Big Island" to avoid confusion with the state.
Hawaii is the 50th American state and the most recent state that was added in 1959. Hawaii is the only state in America that is composed entirely of islands.
With just over a million inhabitants in the islands, it is the 8th smallest state in America and the 11th least populous.
The fact that the population is not large may be due in part to the high cost of living and high taxes associated with Hawaii. Residents pay almost three times the national average.
In February, the Department of Labor and Industrial Relations announced that Hawaii had added 2,300 jobs in February and the unemployment rate at 2.1%. It is one of the lowest unemployment rates in the country.
What does this combination of expensive property for sale in Hawaii, expensive living expenses and a small population for the Hawaii real estate market in 2018? Is it a market for shoppers or a paradise for sellers of properties for sale in Hawaii? Is the Hawaiian real estate market riding an important wave, or is it on the brink of disaster?
In a ranking of one hundred US metropolitan areas, the city of Honolulu ranked 67th in terms of expected home sales and price growth. It recorded a 3.11% growth in price and a growth in property for sale in Hawaii of 1.43% over the past year.
Property for sale prices in Hawaii ,single-family house prices in Oahu have risen 2.7% from 2016 to 2017, and experts predict that the average price could rise in 2018.
The Hawaiian real estate market has long been in a perpetual state of celebration or famine. It's perfect for the ultra-wealthy looking for top-selling properties for sale in Hawaii, but it can often provide few options for a population largely employed in the service and hospitality industry. 2018 could change as more investors turn to Hawaii-owned properties that are smaller than just two and three hundred square meters as a means of providing more affordable housing.
The best places to live in Hawaii is Honolulu, it is the largest city in Hawaii and its name means "sheltered harbor" and enjoys some of the highest liveability levels of any city in the country and a low crime rate. The city's position allows it to act as a gateway to tourism for the rest of the islands.
Paia is the favourite place for many Hawaiians because it is a less touristy and more authentic city.
The small Paia market makes it more difficult to predict that the Honolulu market, which has recorded small but constant increases.
Hawaii seems free to enjoy another year of steady growth in terms of average values of properties for sale in Hawaii and it will remain one of the most expensive places in the country to live in.