Why is Hawaii Housing so expensive?

Did you know that the average home price in Honolulu is three times higher than the national average? Living in paradise comes with a hefty price tag, and today, we're uncovering the reasons behind these sky-high housing costs and what it means for both residents and investors. 🏠💰
In this video, we'll explore:
Limited land availability and its impact on housing costs.
The high demand for housing driven by Honolulu's allure and job opportunities.
The significant role of tourism in the housing market.
How strict zoning regulations affect new developments.
The impact of foreign investment and military presence on property values.
A comparison of rental and utility costs between Hawaii and other states.
The pros and cons of living in Honolulu, from low property taxes to the high cost of living.
We'll also discuss whether the high costs are worth it and who might find living in Honolulu appealing. Plus, we'll compare the cost of living in Honolulu to other major US cities to give you a comprehensive view.
If you're curious about the real estate trends in Oahu or considering a move to this beautiful island, this video is for you. 🌊🌺
Don't forget to like, comment, and subscribe for more insights into real estate and housing trends. Your feedback and thoughts on the housing situation in Honolulu are always welcome!
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A resident of Honolulu for more than 19 years, Duc has lived and worked in many areas on Oahu. His business is based mostly on referrals from satisfied clients. Most important to Duc is providing exceptional service to buyers and sellers in order to earn their trust, referrals, and repeat business. Duc has sold homes in all price ranges from starter homes and luxury condominiums, multi-family properties, and investment properties, totaling over $47M in career sales. Clients appreciate his flexibility, low pressure sales, patience, ability to listen and hear what a client wants, negotiation and analytical skills, and his ability to accurately price and market a home.
As a graduate of the University of Hawaii at Manoa with a M.S. in Physics, he brings a unique analytical skill set to the real estate business. He moved from Southern California to Honolulu in 2004, after graduating from UC San Diego with a B.S. in Physics. He is also fluent in Vietnamese.
As a real estate investor, Duc is a partner in 1122 units across 9 states. He is a limited partner in 634 units. As an active investor, he owns a single-family rental property in Anaheim, CA, 15 units in one JV in Pittsburgh, PA, and 579 units as a GP with Tri-city Equity Group, valued at over $73M. His broad experience as a real estate investor in both Oahu and mainland properties allows him to provide his clients with the best experience in both buying and selling properties. He specializes in working with investors.
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Duc Ong
Blueprint Real Estate Advisors LLC
RB-23838

[@ParisianThinker]

I am a licensed lawyer in Hawaii. There are so many other beautiful places in the world besides Hawaii. The entire infrastructure is failing and in need of a total revamp. The waters are polluted due to all the mismanagement. If you decide to live there, wait. BIDEN policies ensure a housing crash as well as a market crash. Stay safe.

[@livinginhonolulu]

I agree there are many other beautiful places. There are lots of issues here for sure. What makes you say there will be a housing/market crash?

[@marcielynn4886]

Condolulu is not Hawaii.

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