Is Now a Good Time to Buy an Investment Property in Hawaii?

Buy Low, Sell High.

If you want to do well on your investments, this is all you need to do. It’s so simple, but at the same time for many of us, this is an ever-elusive endeavor. We must admit that it really is a challenge to do this. After all, if everyone executed this strategy perfectly, where would the opportunity be? The very philosophy of buying low and selling high is predicated on the fact that others will buy high and sell low!

You may be reading this because you’ve been thinking about buying a property in Hawaii and you’re patiently waiting for the right opportunity. Now with the current world events, it seems like a set up to find a good deal on a property here. You are right! There are some deals to be had out there, but when will be the ‘perfect’ time to buy in order to maximize your investment? That will only be known in 2-3 years when we look back and point to a historic graph and say, ‘there it was!’

After the 2008 recession, we can now look back and say that for most of the United States early 2012 would have been the perfect time to buy. While history can help us predict when the next perfect time to buy will be, it can also cause blind spots. The fact is that the current recession and pandemic are much different than the 2008 recession, which was partly caused by a massive housing bubble. Another HUGE, and I mean huge, factor is that around the country and especially here in Hawaii the available housing on the market is extremely low. Due to this extreme housing shortage, it won’t take a massive amount of demand to keep housing prices stable.

Is Now a Good Time to Buy an Investment Property in Hawaii?

In short, yes! Now is definitely the right time to at least start the buying process. There is due diligence and research to be done long before you sign on the dotted line. If you start now, you’ll have a significant advantage over those who wait. Get your preapproval done and do virtual tours of properties. Ask your realtor for information, and historic pricing in neighborhoods or condo buildings you like. Don’t be in a rush but be ready. That way when the right opportunity comes along, you’ll be confident and ready to strike.

Will the sunset in Kona tonight light up the sky in an amazing array of colors that nearly takes your breath away? I don’t know, but I do know that if you don’t go sit out on your lanai around 6:55 pm, it won’t matter because you won’t be ready for it either way.

Want to Know More?

Whether you are new to real estate or you’ve been doing this for a long time, Hawaii is different than most other states. Getting help from an industry expert is really the best way to go. If you ever have a specific real estate question, just send me a quick email, call, or text. I love talking real estate and I’m happy to help, no strings attached.

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Aloha,
Tom