3 Things Prospective Hawaiʻi Homeowners Have to Know
Living in paradise is easy, but you’ll want to know these three important things before thinking about buying a home in Hawaiʻi.
Buying a home is a daunting task, no doubt about it. And if you’re looking to purchase a home in Hawaiʻi, there are even more factors to consider due to the state’s unique location and limited size. Fortunately, the entire home purchasing process can go much easier with a licensed real estate agent at your side—like the ones you can find at LIST Sotheby’s International Realty. Before you even start your home hunt, however, be sure to know these three things every prospective Hawaiʻi homeowner should be aware of.
Think Smaller
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If you’re looking to buy a home in a more populated part of the state, such as Honolulu or Kailua on Oʻahu, you’ll have to be OK with downsizing. “Our homes are more expensive and generally smaller than many of the Mainland states for the price,” says Aileen Rodriguez-Chizer, a real estate agent with LIST Sotheby’s International Realty with over 25 years of experience in the Hawaiʻi home buying market. “With that being said, you’re probably going to need to downsize and get rid of a lot of your belongings.”
Fortunately, size isn’t the end-all-be-all in Hawaiʻi. While you may not have the same square footage as you would on the Mainland, the beauty and openness of your surroundings will easily make up for your more humble abode. And because the scenery of Hawaiʻi is just so easy on the eyes, many properties in the state—from small condos to single-family homes—feature lānai (verandas) and open-air floor plans to allow the indoor and outdoor space of your home to intermingle and mix, making even a small house feel big.
The Cost of Paradise
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It’s not just size you’ll have to consider when looking to buy a home in Hawaiʻi. The cost of paradise is real, and you’ll have to be OK knowing that what your dollar could get you on the Mainland will only be a fraction of where it’ll take you in Hawaiʻi. “I believe one of the most important things that buyers should know about buying a home in Hawaiʻi is the higher cost of property,” says Rodriguez-Chizer. Fortunately, there are more affordable areas to live in Hawaiʻi that you can consider if you’re worried about the cost of buying a home, such as Pearl City, ʻEwa and Kapolei.
And it’s not just the cost of the home to consider, but the cost of just living in Hawaiʻi in general. “Along the lines of home prices being higher, the prices of utilities like electricity and grocery are higher as well.” It’s a well-known joke that new residents are often shocked at the price of milk in Hawaiʻi—one gallon typically sells for close to $10—but it’s true, things are just generally more expensive here. Fortunately, you’ll also be living in a place where people spend thousands of dollars to vacation to, and you can enjoy all the Islands has to offer daily—and watching the sunset over the Pacific is free of charge.
Know Your Neighborhood
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From Mānoa to Makiki and Kailua to the North Shore, there are so many places to call home in Hawaiʻi—and it’s recommended that you dive deep into learning more about these communities to find the one that will fit you best. While the North Shore is great for people looking to explore the outdoors and get into the water daily, it may be a bit lackluster for the prospective homeowner looking to experience the newest, coolest bars on the block. Conversely, Downtown Honolulu is great for someone looking to experience Oʻahu’s nightlife scene, while the drive to the beach may be a bit longer—but not much longer—than someone living on the coast.
“It’s important for prospective homeowners to get to know the neighborhoods around Oʻahu and narrow down that part of their search so they can see what prices are like there,” says Rodriguez-Chizer. “Once you have that number in mind, you’ll have something to aim for when saving for your down payment, and you’ll have a better understanding of the cost of living in the area.”
Aileen Rodriguez-Chizer, Realtor License RB-18800, (808) 348-1782, archizer@listsir.com. Find her agent profile page here.
