What Oahu’s Military Buyers are Looking For: New & Affordable Single-Family Houses
If you’re PCSing to Oahu and are wondering about the possibility of owning your slice of paradise, fear not. New and affordable single-family housing does exist and it’s located on the West side of Oahu. Continue reading to discover why so many military families choose the West side to buy their island homes.
New Ewa Beach Single Family Home
1. Oahu’s West side is where most of the newest single-family housing developments are located. Ewa Beach, Kapolei, and Makakilo host the majority of the newest single-family housing development on Oahu. Excluding the West side, Oahu’s housing is considerably older and has an average age of 30 years +. Thankfully the developments on the West side have the right houses military families typical look for…3-4 bedrooms with enough yard space for a lounge set, BBQ grill, and family pets.
Hoakalei Kuapapa, Golf Villas at Lokahi Greens, Gentry Parkside, and Kahiwelo at Makakilo, are just a fraction of the newer single-family housing development projects located on the West side.
2. New housing means lower maintenance costs. With a newer house comes less up front and long term maintenance costs. This offers peace of mind when renting out or when planning to sell down the road.
3. Newer homes are more likely to meet VA home loan requirements. Due to the fact homes are newer, Buyers have a better chance at meeting VA Appraisal permit and safety requirements to close.
4. HOAs have the potential to shelter home values. It’s a well-known fact that Homeowner Associations do restrict homeowners from making certain adjustments to their property. However, there’s a positive. HOA bylaws can prevent neighbors from making poor choices in the upkeep of their property. This prevents the degrading of properties and allows for greater potential in increased home values among the community.
5. Some developer mortgage companies offer military discounts. In many cases, select developers offer $1,000-$3,000 off closing costs for military Buyers. In some instances, even more can be offered.
6. Oahu’s most affordable region for single-family housing points to the West side.
Median Prices for 2013 & 2014 (per HBR):
- Ewa Beach/Kapolei: $545,000, 2013 – $563,500, 2014
- Makakilo: $543,500, 2013 – 552,500, 2014
- Mililani/Wahiawa: $585,000, 2013 – $635,000, 2014
- Pearl City: $622,000, 2013 – $623,000, 2014
- Kaneohe: $705,000, 2013 – $779,500. 2014
- Honolulu (Metro): $779,000, 2013 – $885,000, 2014
7. Oahu’s new rail project will save valuable time and patience during the morning and evening work commutes. East Kapolei to Joint Base Pearl Harbor-Hickam will take 23 minutes. When the Honolulu Rail Transit project is completed it will give West side residents the option of riding the rail system to avoid battling the masses driving to work and back on the H-1 Freeway.
8. New retail and entertainment venues are coming to Kapolei. A new mall is scheduled to open in East Kapolei and 12-screen Regal Theater will be opening up by 2016. Last but not least, Buffalo Wild Wings is currently negotiating a lease in Ewa Beach.
Ultimately, whether you’re a military or not, Ewa Beach, Kapolei, and Makakilo offer considerable value at an affordable cost for Buyers who want single-family houses. I hope this information will help guide you to further understanding why the West side makes sense for military homebuyers.
For more information on homes in the Ewa Beach, Kapolei, and Makakilo area, please contact me!