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Is it a good time to buy a condo on Hawaii?

Prices are reasonable but may still go down I suppose. However it seems if I buy one and rent it out for the most of the year, it still appears to be a good deal. Especially if I can go there any time I want. What do you think?
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October 05 2011 - Lahaina
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Answers (9)

YES!  
Here's an article on the Big Island real estate market that you may find helpful. http://www.bizjournals.com/pacific/news/2014/01/06/big-island-home-prices-rise-13-in-2013.html?page=all
Hawaii island (the Big Island) has the lowest median sales price for both condos and single-family homes in the State.

Let me know if I can help.

Aloha,
Kristi
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January 17
Hawaii is a tourist area...in all tourist areas it is always good to buy when the prices have just dropped....BUT consider the maintenance fees...when I owned a condo in Hawaii back in 2001-2006 where $610 a month....this was not a new condo but an older one....renting them out for the entire year may be difficult...make sure you can afford covering several months of mortgage and fees....Hawaii is a volatile market so try not to buy when the market is peeking...which right now is not....if you buy and it still drops don't worry as long as it doesn't tank....
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July 18 2013
If you like to use a website with reliable, updated information on Hawaii Real Estate, try my website at 
[Website removed by Zillow moderator. Please see our Good Neighbor Policy for more information.]

It gets updated hourly, so you will have the most current information at your fingertips 24/7.  It also have a great MAP SEARCH feature, which will allow you to search using the MAP.

Did I mention that it is completely FREE!!!!!!

I am a local Realtor, so if you are ready to get started, give me a jingle at [Phone removed by Zillow moderator. Please see our Good Neighbor Policy for more information.]
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July 16 2013
I have family with properties there and it is a good time to buy if the numbers pencil out. Make sure you factor in payments, taxes, insurance & management.
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October 09 2011
We just sold the home of clients living in Northern Virginia who moved to Hawaii. They felt it was a great time to purchase an island home based on current rates. When they conducted a home search they remarked there was not much available for purchase in several price ranges. Good Luck in your search. Contact a local agent and put them to work for you is our best advice.
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October 06 2011
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Rates are low so if you plan to hold long term that is an advantage. It seemed like prices were still dropping in HI last time I looked, so you need to decide how much risk you are willing to take there and how rents compare to your possible PITI.

Having a part time rental condo is expensive unless you have an agency to handle the rent out. You need to cost out how often you will really use it and compare that to the cost of renting when you visit.
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October 06 2011
HI Dmitry,

It's a great time to buy right now!  Interest rates are the lowest they have been in 40 years.  My suggestion is to get in contact with a local realtor.  Like Renee mentioned a buyer's agent doesn't cost you anything.  I would be happy to refer you to an agent in Hawaii.  Send me an email and I will have a local realtor get in touch with you. 

Best Regards,


Phyllis Nelson
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October 06 2011
Now is a great time to buy.  Everything is on  sale!!!  There are tons of great deals out there.
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October 06 2011
I think if you believe you will hold on to it for a long time, its a good time to buy. We see the housing market correcting and smoothing out in many areas of the country. Dmitry, if I was you, I would contact a local realtor, ifyou don't know one, I can refer you or you can pull down the professionals tab here and search for one. A buyers agent doesnt cost you. They can run the stats for you.
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October 06 2011
 
Related Questions
Is it a good time to buy a condo on Hawaii?
Profile picture for Kristi Cotton
Latest answer by Kristi Cotton
January 17 | 9 answers
  • Asked by Schultz9999
  • In Investing
  • October 05 2011
Mortgage Rates
 
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