Hawaii Real Estate Market Update
The HDG team remains to measure the real estate market nationally, state-wide and island specific for all things Hawaii real estate so we can best advise our clients as to any Big Island of Hawaii property search that may benefit them in buying and/or selling. As many know, Hawaii real estate’s market differs from many due to specifics around our real property laws and availability as we remain an island archipelago with only so much inventory. Recently, as of November 2022, a myriad of economists and real estate experts nationally provided insight as to the real estate market alongside new developments and an interesting tailspin to the market analysis that our team found extremely fascinating.
As many know, the one thing consistently honest happens to be numbers, because numbers never lie. First American Chief Economist, Mark Fleming made a point in an interview as to the real estate market, which our team finds to work in concert with Hawaii real estate alongside our on- going developments – inventory of homes for sale continues to remain steady as in there is still a lack of inventory for the level of buyers looking. This creates a pseudo-sellers’ market and in Hawaii real estate, the HDG team completely agrees that we do have a deficiency in the inventory of what we have available for our buyers’ clients.
The HDG team prides itself on consistently doing property searches throughout the Big Island of Hawaii on any type of property to ensure we are aware of anything existing and incoming so we can advise our clients as best as possible to provide for their needs and wants in all things Hawaii real estate. Another large point pointed out by Fleming was that rent prices are continuing to increase nationwide, which we have seen here locally within Hawaii real estate and on the Big Island of Hawaii. Many of our existing residential clients come to us as buyers because they would rather invest in a property to create a home rather than pay a rent that may be similar to the rent prices we are seeing post-pandemic.
The silver lining to this market analysis provided both nationally and locally is that we are able to understand the statistical numbers of our clients coming to us from all walks of life. As many know, HDG accepts any client with any budget type because we understand the diverse and unique lifestyle we cultivate here in the islands – it’s why we do what we do within Hawaii real estate. Whether a person is coming to look for a new Hawaii development, a simple property search on the Big Island of Hawaii for an investment property or simply looking to see what they could potentially get for a property they currently own – we love to serve any and all clients.
The ability to measure the market month by month within Hawaii real estate allows us to understand the inventory that is coming whether it is a new development or singular properties that may come on the market so we can best advise our clients of not only the best option available to them in addition to the right time and the right place. Hawaii real estate continues to soar into great bounds that create an interesting concept for many, both incoming new residents and our Local residential neighbors who may be relocating to a new home or looking to invest, reading market analysis helps us to help all of you.
With rent prices continuing to rise and inventory of available properties continuing to remain low given the buyer population, we encourage every potential client to get with an HDG agent for the experience we bolster and the knowledge we continue to learn daily. We love to advise our clients the best possible way we can in the best interest of the client and their needs and wants.
Whether you want to purchase a property or sell a property, in Hawaii real estate, having a trust advisor that can comprehend your expectations is truly an asset that can bring the dividends of happiness and joy we love to foster here in Hawaii and not just in Hawaii real estate.
