This market on Oahu is crazy as we are all aware.  It’s really a great time to be a Seller for many reasons during these times.

My concern is with our Buyers, specifically our VA Buyers who are doing 100% financing as most VA Buyers do and then needing to leave on PCS orders in 3 years.

We have no idea how long this Sellers market will last and when it will swing back in favor of Buyers.  Once the market shifts back to a Buyers market, there is more competition amongst Sellers to attract Buyers and one of the ways they do that is by offering things such as lower price and paying for some or all of the Buyers closing costs.

If our VA Buyers are unable to sell their homes because they would have to come out of pocket with cash in order to sell, then their next logical choice is to turn it into a rental property.  That is great as long as the Owner is able to “eat” the shortage each month.

For example, let’s say Sergeant Smith buys a condo in Ewa Beach for $425,000 with 100% financing.  The maintenance and HOA fee is approximately $550 per month.  The mortgage payment would be about $1,625 per month.  That’s $2,175 total.  Those units rent for about $2,000 per month.   The property manager gets $200.  The GET that the owner pays is $120 per month.  This means that Sergeant Smith would be upside down by $495 per month and that doesn’t include any repairs that might need to be made.  

Please think about your future when purchasing a home rather than just jumping in without the knowledge of what could potentially happen in the future.

Its a trickle down effect. Buyers cant buy homes because there is too much competition and the Buyers cant wait forever so they are now turning to renting homes in Ewa Beach, Hawaii or moving into government housing. Its really a shame that these Buyers are not able to be competitive enough to buy homes but its all about “who has the most liquid cash to pay above the asking price for a house?” Typically, that is not my brother and sister Veterans that have this type of liquid cash so they are being priced out of the market. This makes renting a home even a difficult task for some Military Families since they are unable to purchase homes and now there is even competition for rental homes. Some of the most desirable areas in Ewa Beach, Hawaii such as the Hoakalei Resort properties of Ka Makana, Kuapapa and Lei Pauku, Ocean Pointe, Ewa By Gentry homes in all neighborhoods including Sonoma, Prescott, Haleakea, Cypress Point, Woodbridge, Carriages, Parkside, Tuscany, Montecito, Las Brisas, Tiburon, Cortebella, Terraza, Tides, Trades, SeaBridge, Coral Ridge, Latitude and Sandalwood to name a few.

The inventory of homes for sale in Ewa Beach, Hawaii is minimal. There are a ton of Buyers looking for homes. Interest rates are low. Combine those 3 things and you have “bidding wars” on homes. In the past 2 weeks, we have had Buyers make offers ABOVE the list price by many, many thousands of dollars only to get beat out by someone that was willing to go higher. Two of the properties had a total of 28 offers and another one had 22 offers. Thats very hard to compete with if Buyers are not willing and/or not able to pay a higher price and have disposable cash to make up the difference between the appraised value and the inflated price they have to pay just to get the house.

The following homes are currently available on the home sale market.  All of these homes are located on Hoakalei Country Club Golf Course in Ewa Beach, Hawaii.  Hoakalei CC is a private club and is the TOP golf course on the island of Oahu.  For more information on these homes or any other homes for sale in Hawaii, contact Hawaii Military Realty, Inc. at (808) 218-9338.  We are your Buyer, Seller, Landlord and Tenant experts in Hawaii.  Our real estate agents with Hawaii Military Realty, Inc. own homes in the neighborhoods listed below so we are your best source of information.  These homes are all approved to be purchased with a VA Home Loan in Hawaii.

1.  Located on the 9th hole, this 60.40 model has 5 bedrooms, 4.5 bathrooms, a two car garage plus a one car garage, 3,539 interior square feet, a full owned photovoltaic electric system.  The house is located far enough down the 9th fairway to be out of the range of being hit by golf balls.  Price is $1,300,000.00.
2. This 60.30 model home is one of the only homes currently available with a large yard that can fit a swimming pool.  This home is located on the 11th fairway and is definitely out of range of being hit by 99% of golfers.  If a golfer hits this house with a golf ball, it was most likely the worst golfer on the planet.  Featuring a 3 car garage, 5 bedrooms, 3.5 bathrooms, a 6,810 SF lot, 3,709 interior SF, Tigerwood flooring and many more upgrades.  Price is $1,299,000.00.
3. Located just behind the 14th tee box, this 60.50 model home is the only single level home currently available for sale on Hoakalei Country Club Golf Course.  It has 3 bedrooms, 2.5 bathrooms and 2,175 SF interior.   It also has a 2 car garage and driveway parking for 2 more cars.  Very nicely upgraded and in excellent condition.  Price is $1,279,000.00.
4. With a very nice view, this 65.10 model home features 4 bedrooms, 3 bathrooms, 2,536 SF interior, a 2 car garage and driveway parking for 2 more cars.   This home is also one of the few that has a yard large enough for a swimming pool and is located away from the golf ball kill zone overlooking the 9th fairway and 9th green.  Price is $1,250,000.00.
5. Located in the gated community of Kipuka at Hoakalei, this home overlooks the 17th fairway.  It features 4 bedrooms, 3 bathrooms, 2,197 Sf interior, 2 car garage, driveway parking and is priced at $960,000.00.
6. Also located in the gated community of Kipuka at Hoakalei, this corner lot home has a beautiful view of the 14th green, lake and 10th fairway.  It features 4 bedrooms, 2.5 bathrooms, 2,072 SF interior and a 2 car garage.  Price is $940,000.00.

For the past 20 years, Haseko has been building new homes in Ewa Beach in the Ocean Pointe and Hoakalei Resort Communities.  Their last residential building is taking place now as they sell out the last few homes in the Lei Pauku Townhouse community near/on Hoakalei Country Club.  Once those are completed, Haseko will focus on building the commercial project in that same area.  It is expected that Haseko will not be selling any new build residential properties for at least the next couple of years will cause our already low supply of homes to get even worse.  Are you interested in New Homes in Hawaii or Homes for Sale in Hawaii?  Contact us and we can help you as we helped over 1,000 Buyers, Sellers, Landlords and Tenants over the past 12 years.

The newly built homes in the resort community of Kipuka at Hoakalei  is located in Ewa Beach, Hawaii.  This Residence Four home has just over 2,030 square feet of interior living space.  The Residence Four has 4 bedrooms and 2.5 bathrooms with prices starting approximately $814,990.  The Residence Four house is part of the Golf Series which are on golf course frontage along the 15th, 16th and 17th holes of Hoakalei Golf Course and Country Club in the gated community of Kipuka at Hoakalei.  The other homes in the resort are part of the Garden Series and those are interior lots at Hoakalei Golf Course and Hoakalei Country Club.  For more information on these houses for sale or any other houses for sale in Hoakalei Resort, Ka Makana at Hoakalei, Ewa Beach, Oahu, Hawaii VA Loan information, contact the Ewa Beach, Hawaii real estate experts at Hawaii Military Realty, Inc. (808) 218-9338.  Hawaii Military Realty, Inc. is the only dedicated real estate company on Oahu that is dedicated to serving the needs of the Hawaii Military Community.  The company is Veteran owned, Veteran operated, Veteran managed and services Active Duty Military, Retirees, Veterans, National Guard, Reservists, Department of Defense Employees, Government Contractors and any civilian that demands knowledgeable, honest, caring and loyal real estate services in Hawaii.