About Bryn Kaufman

Principal Broker and Creator of OahuRE.com

Why would you want to live in Waikiki?

There are many reasons why someone might want to live in Waikiki, which is a neighborhood located in Honolulu, Hawaii.

Beaches: Waikiki is home to some of the most famous and beautiful beaches in the world, including Waikiki Beach, Kuhio Beach, and Queen’s Surf Beach. If you love spending time in the water, sunbathing, or just taking in the ocean views, Waikiki is an excellent place to live.

Culture and Entertainment: Waikiki is a hub of cultural and entertainment activities, with plenty of restaurants, bars, nightclubs, and theaters to explore. The neighborhood is known for its lively nightlife, hula shows, and other cultural events.

Outdoor Activities: In addition to the beaches, Waikiki is surrounded by opportunities for outdoor activities such as hiking, surfing, paddleboarding, and kayaking. There are also several parks and green spaces in the area where you can enjoy a picnic or a leisurely stroll.

Climate: Hawaii has a warm, tropical climate year-round, which means you can enjoy outdoor activities and comfortable weather no matter the season.

Diversity: Waikiki is a melting pot of cultures, with people from all over the world calling the neighborhood home. Living in Waikiki means you’ll be exposed to a diverse range of perspectives, customs, and traditions.

Of course, living in Waikiki also has its challenges, such as a high cost of living and a large tourist population. However, if you’re looking for a vibrant, culturally rich community with plenty of outdoor activities and gorgeous beaches, Waikiki could be a great place to call home.

Photo by AussieActive on Unsplash

Why would someone want to live in Kailua, Hawaii?

There are several reasons why someone might want to live in Kailua, HI:

1. Natural beauty: Kailua is located on the eastern coast of Oahu, and is known for its beautiful beaches, turquoise waters, and lush greenery. Residents can enjoy activities such as swimming, kayaking, hiking, and surfing.

2. Climate: Kailua has a tropical climate, which means warm temperatures year-round, with occasional rain showers. This makes it an ideal location for those who love spending time outdoors.

3. Community: Kailua is a tight-knit community, with a small-town feel. Residents often participate in community events, such as farmers markets and festivals, and there are plenty of local businesses to support.

4. Access to amenities: Despite its small size, Kailua has plenty of amenities, including grocery stores, restaurants, and shops. It is also only a short drive from the city of Honolulu, which has even more options.

5. Relaxed pace of life: Living in Kailua allows residents to escape the hustle and bustle of city life, and enjoy a more relaxed pace of life. With its natural beauty, community feel, and access to amenities, Kailua is a desirable location for many.

February Stats Update

Day on Market Single Family up 261%. Last year it was 13 days. Now 47 days.

It is interesting that the Fed says the percentage of median income needed to buy a home is now the same as it was in 2006 before the housing crash, so homes are in no way inexpensive right now and prices will drop to a more normal level.

2008 Home Crash All Over Again

As pending home sales have dropped lower than the 2008 housing crash, it is an excellent time to revisit what happened in 2008, as it seems we are going there again.

In June 2007, the median Single Family Home price on Oahu was $685,000. It went down and did not recover to $685,000 until December 2013, so it took about 6.5 years to fully recover.

Some Realtors say it is Hawaii, and home prices will always increase. That is true if you wait long enough. If you bought at the median price in August 1990, you had to wait until August 2003 for the price to go up, so 13 years.

So what do I recommend?

If you live in your home and don’t have to sell, you don’t need to do anything. Just keep enjoying your home.

If you have to sell now, please don’t worry. You are selling for less but can also buy for less in your new location.

If you are currently renting, you might want to start following the Real Estate market as the prices are dropping and decide when the right time for you is to buy.

If possible, I do not recommend renting long-term. Prices will go up again, and having a home during the up times is a great way to accumulate equity.