We’ve watched some episodes of HGTV’s House Hunters International lately and it is amazing what is happening to prices worldwide. Condos and home prices near the ocean in out of the way place like Martinique, Tanzania, Sidney, Barbados, Trinidad, and Puerto Escondido are in the $500K-$1M plus range for small units and not always in great shape. Hawaii is starting to look like a real bargain!
We recently showed some clients lower priced units in the popular Waikoloa Beach Resort and found a couple of one-bedroom units that were under $250K. Given Hawaii’s year-round weather, the safety of being in the USA, and strong rental income, condos like this are a real bargain.
The condo pictured above (MLS# 250152) is at the Shores, Unit 22, listed at $249,000. This is a one bedroom condo with a huge lanai and in good shape. A great way to enter the Hawaii real estate market with a second home.
For someone looking for an entry strategy in Hawaii real estate, properties like this are something to consider. You gain entry to the Hawaii real estate market at a relatively low level, offset some expenses with rental income, have a place to vacation as often as you can get here, and you have the opportunity to see appreciation in years to come by buying in at a low level.