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Study: Honolulu home price gains top the nation

By Star-Advertiser staff

LAST UPDATED: 03:16 a.m. HST, Sep 24, 2013

Jamm Aquino / jaquino@staradvertiser.comThis Manoa mansion, a Tudor-style home built in 1934 with 4,516 square feet of living space, sold last month for about $2.4 million and along with other multimillion-dollar homes helped produce a median price spike for Oahu homes sold last month.

Home price increases in Honolulu remain the highest in the U.S., according to Homes.com.

Ongoing research by the real estate site found monthly increases in all 100 of the markets it measures, and said that in July, Honolulu's 13.51 percent year-over-year increase was the highest of the 100 markets.

The next markets in the top five all are in California.

Among midsize markets, Hilo saw  the largest  year-over-year gain in July at 17.43 percent, while Kahului-Wailuku, Maui, was third with a 13.23 percent year-over-year price increase.

The Homes.com local market index is calculated using sales data from the same homes over time, which site officials say more accurately tracks the monthly growth and decline in prices over a longer period of time.

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South76 wrote:
Those who have waited on the sidelines for the home prices to fall have missed the opportunity to own a home in Hawaii...
on September 23,2013 | 07:30AM
Wazdat wrote:
YUP. Does NOT matter how many NEW homes or apts they build THE PRICE WILL NEVER GO BACK DOWN..
on September 23,2013 | 07:55AM
I beg to differ. The market much like our Earth is cyclical and the markets WILL go down eventually. I am not arguing the point of "Ownership" and it being more difficult to own based on the ever-increasing value of our homes, but, the trends will tell you that "EVENTUALLY" the values will fall. It may be 5-10 years, but they will depreciate slightly.
on September 23,2013 | 12:58PM
Hapa_Haole_Boy wrote:
The litmus test came with the Great Recession. Even then, Hawaii RE fared very well, much much better than the rest of the nation/world. Most places in Hawaii saw barely a dip, if at all. Hawaii's RE does so well b/c of the small amount of land, the demand from empty-nesters from the mainland, asia buyers, and locals (there are tons of young families/couples who live at home still, or in a tiny condo and want/need to trade-up), and our location between North America and Asia. HI RE is like a non-stop, speeding train, it's only going to get faster and faster over time, so you might as well jump on the train now than later.
on September 23,2013 | 02:20PM
loquaciousone wrote:
on September 23,2013 | 07:32AM
allie wrote:
I cannot afford it. Might have a chance for a house in North Dakota. Get lots more for your money
on September 23,2013 | 07:46AM
DAGR81 wrote:
Seize the opportunity
on September 23,2013 | 10:34AM
Hapa_Haole_Boy wrote:
pack your bags. bye allie, we'll miss you!
on September 23,2013 | 10:43AM
allie wrote:
I do not graduate until December..many are asking me to stay....hmmmmmmm
on September 23,2013 | 01:33PM
hanalei395 wrote:
Stop talking to youself. Go home where you'll be happy and where the living is cheap. Just get outta here.
on September 23,2013 | 02:17PM
hanalei395 wrote:
"More for your money" .........That's because everything in North Dakota is cheap.
on September 23,2013 | 11:28AM
IAmSane wrote:
You can easily buy a home for less than $100K in ND. Unheard of in Hawaii. Still, I'd rather be dead in Hawaii than alive in North Dakota.
on September 23,2013 | 01:01PM
allie wrote:
on September 23,2013 | 01:31PM
Allie, do you get year-round beautiful weather, beach, mountains and green jungles, any surfing or snorkelling in the ocean. I Have never been to ND, but I can imagine they have any of those items I just listed. Yes, you may get a good piece of land, big house, and money left in your bank, but, when you say more, you need to concious of exactly the things we pay for here in the aina, and it all adds up. It is all subjective to what one considers "MORE"
on September 23,2013 | 01:02PM
Hapa_Haole_Boy wrote:
Allie doesn't get Hawaii. Why do you think I 'encouraged' her to go back to ND?
on September 23,2013 | 01:27PM
allie wrote:
well said..you tempt me to stay. People are so welcoming here...:)
on September 23,2013 | 01:32PM
hanalei395 wrote:
In your case ...Aloha means GOOD-BYE.
on September 23,2013 | 01:57PM
4cents wrote:
not good for the kama'aina.
on September 23,2013 | 07:46AM
Maneki_Neko wrote:
No problem since we have the highest personal income, too. Oh wait....
on September 23,2013 | 08:15AM
loquaciousone wrote:
Well maybe at least gas prices..and HEY we don't qualify for those $5 Pizza Hut deals and $5 footlongs at Subway.
on September 23,2013 | 08:33AM
Morimoto wrote:
Since when does a 4,500 sq. foot home qualify as a "mansion"? Well I guess when you have the highest percentage of condo dwellers in the country it would qualify as a mansion.
on September 23,2013 | 08:54AM
Hapa_Haole_Boy wrote:
back in the 1930s, that was a mansion I suppose. That, and this is Hawaii, where 1200 sq. ft. is enough to call something a single-family home.
on September 23,2013 | 11:18AM
sailfish1 wrote:
There aren't many people like you who have something better than a 4,500 sq. ft. house worth $2.4 million.
on September 23,2013 | 08:09PM
Tarakian wrote:
Yes, you can live and own in Hawaii, just like others who live here. One way? Get married, two income family. Share the bills and expenses. Young couple, no problem, buy small, studio, condo, townhouse. Then later sell condo and buy a house. That is how we do it. Just commitment and hard work. It is possible.
on September 23,2013 | 11:35AM
eoe wrote:
Excuse me while I roll my eyes.
on September 23,2013 | 12:12PM
Hapa_Haole_Boy wrote:
Well said. Have to start someplace right? As for people like eoe, what do you suppose people are supposed to do instead? Are you allergic to hard work, commitment, perhaps jaded?
on September 23,2013 | 12:14PM
eoe wrote:
Advice to people "starting": Unless you want to be in debt peonage the rest of your life, move someplace else. You can work hard here and scrape by, or you can work the same on the mainland and actually have a life, travel, own a home, send your kids to a good school etc.
on September 23,2013 | 12:29PM
Morimoto wrote:
Of course it's possible but in general it's just a lot harder and more stressful to own a home in Hawaii. After all, we do have the highest median home prices in the nation. Just because you own a home doesn't mean you got it made. A lot of people are working for their mortgages, without much left to spare after they pay their mortgages every month. That doesn't exactly make for a high quality of life.
on September 23,2013 | 01:15PM
allie wrote:
on September 23,2013 | 01:32PM
ejkorvette wrote:
Without a doubt Hawaii is the most "Overrated" state in the Nation! No house on any of the islands are worth more than $1.00.
on September 23,2013 | 01:15PM
sailfish1 wrote:
I disagree - every house in Hawaii with land is worth much more than $1.00.
on September 23,2013 | 08:13PM
rayhawaii wrote:
Not only highest but lower quality homes. For a $350,000.00 home here you can get a bigger house plus the land on the mainland, compared to a broken down home or those newer homes with 2 houses stuck together or the ones you couldn't throw a basket ball between them because it would get stuck between the walls they are so close.
on September 23,2013 | 08:34PM
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