oahu homes Archives -

Affordable Homes on Oahu

September 26, 2016 by Maureen Fukumoto Leave a Comment

The term “affordable” means different things for different people. Affordable housing in general simply means that no more than 30% of a person’s income should go towards housing. Housing payment would include the mortgage, principal, interest, mortgage insurance, taxes and homeowners insurance. That means that if a person makes $100,000 a year no more than $30,000 of that income should go towards these housing allowances.

However, just because it is affordable doesn’t mean that people stick with that. Many people go over the allotted 30% affordability ratio and many people stay far below it. Staying below it means it will be even more affordable as the homeowners will have more funds for savings, utilities and disposable income.

That being said, the average home price for Oahu is between $600,000 and $700,000. So, on average, for $600,000 home with a zero down deposit (which usually is not the case), including homeowners insurance, property tax and private mortgage insurance on a 30 year loan at 4% interest, the monthly payment would be roughly $3800 a month. This is about $46,000 a year, meaning the homeowner would need to have an income of about $150,000 per year.

Still, $3800 a month in mortgage payments can be quite spending. So let’s drop that in half. There are about 500 properties for sale on the island under $300,000. You can find simple one bedroom, one bath condominiums with 500 ft.² for around $109,000. Of course, options are also available, making an ideal purchase for investors or homebuyers that have cash.

While condominiums are typically less expensive, at least the ones with the smaller square footages, single-family homes tend to run a little bit more. Houses typically start at about $200,000 for two and three bedroom homes of around 1000 ft.². Chances are many of these are going to need some cosmetic updates and maybe some repairs. Bring your elbow grease and trusty tools, but if you can snag a great fixer, you can usually increase your equity with a few home improvement projects. Move-in ready homes usually started about $250,000, but again, they would be small, typically around 700 ft.² to 1100 ft.².

Affordability in Oahu is slightly different than many places around the mainland but can be quite comparable to large metropolitan cities. However, nothing beats living in paradise and if you’re looking to move to the mainland starting with a 700 square-foot condominium might be the perfect starting point for you.

MORE: What can $500K Buy in Oahu

Is a Home Inspection Different in Hawaii?

June 1, 2015 by Maureen Fukumoto Leave a Comment

Is a Home Inspection Different in Hawaii and What Should We Look For?

If you’re purchasing a home on Oahu and you’re moving from the mainland there are some differences when it comes to the home inspection. It helps to know the maintenance and construction of homes in order to be a more informed homebuyer and owner.

Nothing last forever. While this is true no matter where you live, Hawaii knows this more than any state. The major components of your house such as the roof, paint, flooring and appliances tend to wear out a little bit quicker when you live on the islands. The salty sea air can corrode things a lot faster than if you lived in the Midwest.

Check the roof. Hawaiian roofs are made with asphalt shingles that can be expected to last anywhere from 15 to 20 years. Cement tile coverings can last up to 50 years but they cost twice as much. Make sure your home inspector is well-versed in Hawaiian construction, so they are aware of the materials and the lifespan.

It will also depend on whether or not your home is positioned on the beach or in the mountains. In wetter locations you may have the issues of flooding or roof leaks so check with neighbors about the weather in your particular neighborhood and if they’ve had any issues with replacements or materials wearing out sooner than they should.

If you’re planning on living Hawaii it’s good to have a termite inspection about every five years. Some neighborhoods are more susceptible than others and your location could determine a good time interval for you to exterminate the termites.

Is also a good idea to understand that in Hawaii, the beach itself is state certified shoreline and homeowners cannot build on it, construct seawalls or any home additions without certain government permits, which are difficult to obtain.

Beachfront homes are more susceptible to storms and other natural hazards so you want to make sure that your insurance covers any natural disasters, additional flooding, erosion or storms.

Buying a home in Hawaii is a little bit different than on the mainland. Electricity and power sources can be different and strictly maintained, water is controlled and construction is a little bit different. Understanding these differences can help you be a more informed homeowner.

For more information on buying a home on Oahu feel free to browse my website, search all homes on the island or contact me for answers to your real estate questions.

Image by Teemu008 Flickr

What Can $500K Buy You on Oahu?

May 7, 2015 by Maureen Fukumoto Leave a Comment

It’s no surprise that Hawaii is an expensive place to live in the $500,000 mark is on the low end of affordable housing in this area. Many homes are well over $1 million but the $500,000 range is not unheard of. Depending on what you’re looking for, how much work you are willing to put in or the size of the property will all determine that $500,000 range. Currently, as of the publishing of this post there are 146 properties for sale in the entire island price from $500,000-$550,000.

The lowest priced home in this range is $510,000 for a 1600 ft.², three bedroom and three bath townhouse or condo in Kaneohe located at Windward Estates. However, choosing a condominium or townhomes means you will have additional fees in homeowners dues, but you will have the added benefit of potential amenities such as in this case, residents enjoy a hot tub, swimming pool, tennis courts and beautiful green space with pond. These homes are located at the foothills of the mountains with beautiful views of the surrounding area.

At the top end of this price range at $550,000 are quite a few properties. There are easily 20 to 25 properties listed at $550,000 and will vary depending on the size and the condition. Many of these homes are three, four, and even five-bedroom homes, but understand that a five bedroom home in this price range will probably need a little bit of work.

Located up along the Kamehameha Hwy in smaller towns such as Hauula, $550,000 may actually buy you an oceanfront home, but lot size and room size could be limited.

If you’re looking for a condo or high rise apartment, they are available in Honolulu and Waikiki for around $535,000. These homes are going to be less than 1000 ft.² on average and usually feature two bedrooms and two bathrooms.

Whether you are looking for a single-family house, oceanfront property or a condominium on the beach, $500,000 is actually quite doable on Oahu. Call me to view any of these homes between the $500,000 and $550,000 range.

Discount Listing Agent for a Fast Oahu Sale

February 2, 2015 by Maureen Fukumoto Leave a Comment

Most of the time when homebuyers need a quick sale they may not look to a discount or flat fee listing company. Discount brokers often have the stigma of throwing up the listing on the MLS and sadly forgetting about it. There is no hands-on marketing, advertising or customer service. But that’s not the case with companies like Help-U-Sell. Not all discount brokers need to be so hands off. It is possible to get a listing agent for a discounted price to do as much or as little as you want them to do.

For instance: you may have all of the necessary tools to market and advertise your home and you may already have an idea of how you want to price it and stage it but you just can’t get it on the MLS without having the help of a licensed real estate agent. This is where our flat fee listing service is so important. For a flat fee of just $500 it includes custom photographs, a virtual tour, professional flyer for the front of your home in the real estate sign, a front door lock box and an MLS listing.

However, there is a catch; you will probably need to offer some sort of a buyer’s agent commission.

This means that even though you won’t be spending thousands of dollars on the listing agent side you may have to spend a certain percentage on a commission to the buyers agent. Unless the homebuyer comes to you directly without the aid of a buyers agent, you may need to offer some sort of an incentive for the buyers agent to facilitate the real estate transaction. This percentage can be anywhere from 1% to 3% or even more for a buyers agent. Example: if you are selling your Oahu home or condo for $400,000 you can offer the listing agent a 2% buyer’s agent commission which would be about $8000. On a typical listing, the commission could be upwards of 6% or $24,000, which is quite a bit of equity to be losing.

Again, a flat fee listing option is probably not the best idea if you want to be completely hands-off and have no idea how to facilitate a real estate transaction. At Help-U-Sell we want to be as hands-on or as hands-off as you prefer which is why we offer several different listing options.

If you have questions about how hands-off you want to be to sell your Oahu home or property fast feel free to give me a call at any time. We can discuss options, your knowledge of the market, and how much equity you need in order to close quickly.

Haleiwa – Miles from Ordinary

January 21, 2015 by Maureen Fukumoto Leave a Comment

Haleiwa is located on Oahu’s North Shore and home to about 4000 residents. There are numerous beautiful beaches, parks and a few residential neighborhoods throughout Haleiwa. This is a popular destination for tourists and residents alike because of the surfing and diving sites along the North Shore. This is the largest commercial center on the north shore of the island.

Nestled just one hour from Waikiki, Haleiwa is known as one of the surfing capitals of the world. This older community dates back to the early 1900s, which was originally a sugar plantation., Today, locals and residents alike love the shopping, dining and of course, the surfing in Haleiwa. Not only do people come here to serve but you can skydive, jet ski, kayak, go horseback riding, golf, enjoying the Dole Plantation, go on a scuba or snorkeling tour, enjoy the Polynesian Cultural Center or jump off the mountain with a powered hang gliding to her. There’s so much to do all within just about 10 minutes from Haleiwa.

Because this is such a tourist attraction, there are only a few primary residence in Haleiwa. Homes are priced from about $260,000 to over $1 million depending on size, condition and location. Homes right on the water along Pikai St offers stunning beachfront access and beautiful views of the water. The Haleiwa Ali’i Beach Park is a popular place for tourists and locals alike as there’s plenty of beach to be enjoyed by everyone. The Haleiwa Boat Harbor is located just east of the park and promotes the North Shore Shark Adventures, snorkeling and scuba diving tours. A little farther northeast are beautiful and popular waterfront restaurants such as Jameson’s By The Sea and Surf and Sea, offering exquisite seafood and delicious Hawaiian fare.

Again, Haleiwa is about one hour’s drive from Honolulu and Waikiki depending on traffic yet it’s miles away from the ordinary. For a true Hawaii experience or to simply be out of the hustle and bustle of downtown consider a home in Haleiwa. At any given time there is roughly 10 to 20 properties for sale so feel free to give me a call for private and personal tour or a customized list of properties that meet your search criteria and price.

Search all Haleiwa Homes for Sale

Images by Osamu Kaneko, Keoni Cabral, Max Kiesler, & wyteone Flickr

Waipi’o Acres

January 6, 2015 by Maureen Fukumoto Leave a Comment

Waipi’o Acres is a small village located in Honolulu County on Oahu next to Mililani with a population of about 5200. This community is nestled just north of Mililani between Highway 99 and H2, east of Wheeler Army Airfield. Most of the homes in this area were built within the last two decades and about 60% of those homes are owned about 40% are rented. The median sales price of a home in this community is about $340,000. Waipi’o Acres has an 8.7% home appreciation and the unemployment rate in this area is 3.8%, whereas the US averages 6.3%.

Waipi’o Acres received #1 as the best rested city in 2011 and one of the best places to live in 2005 coming in at #5. It is also one of the top 10 most secure places to live in the US and #8 best city for teleworking for medium metro areas. It’s called Waipi’o Acres for the large agricultural plots in the center of this community. Their homes surrounding these acres with the highways on each side. The majority of homes are on the southern end of the village with the Leilehua Golf Course on the north end. There are a few condominiums along the western side by Highway 99 price from $100,000-$300,000 and the few single family homes between $400,000 and $900,000. Most of the single-family homes are nestled on the south eastern side of Waipi’o Acres priced from $350,000-$850,000.

The homes in Waipi’o Acres are served by the Mililani school district and utilize the Mililani Mauka elementary school the Mililani middle school and the Mililani high school. All of these schools have a near perfect rating by great schools.org from teachers, parents and students alike. Downtown Mililani is less than five minutes from this neighborhood.

For more information on Waipi’o Acres feel free to give our office a call at any time or browse the website for all homes and real estate near Mililani and Waipi’o Acres.

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