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Hawaii Homes For Sale: Home Mortgage Rates And Luxury Homes
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Published: June 21, 2007
Picture the ideal beach vacation, gracefully arching palm trees, a turquoise blue ocean lapping at a white sand beach, a white woven hammock rocking peacefully to a cool gentle breeze. Ahhh…got the image? For most Americans the first name that comes to mind is Hawaii, those distant volcanic islands that represent a true escape from the mainland and from the mainlanders, from the rush and the stale air of the city.
Some people make it more than a dream to live in such an idyllic place, they have chosen to own beautiful Hawaii homes instead of merely visit the islands.
Owning Hawaii homes is not as unrealistic as one might imagine, and for vacationers who enjoy visiting the islands regularly Hawaii homes would prove to be a wise investment. There are many Hawaii homes for sale from those that are easier on the budget like condos up to Hawaii luxury homes. Even better is that Hawaii has been a state since 1959. This means that buying Hawaii homes in this tropical paradise isn't subject to the vagaries of real estate purchased under the laws of a foreign government in other tropical locations.
The first task is to sort out just how much access is desired to urban life, which will dictate which island to shop on for Hawaii homes. Oahu with its bustling Honolulu metropolitan area is a popular choice for those who want to be on the islands, but who still want to be within driving distance of many of the big city cultural, sports, and culinary opportunities. Honolulu was listed as the 12th largest city on the 2000 census and has a rich cultural life. Hawaii football is very popular and the city hosts the annual NFL All Star game each February. Oahu median prices have fallen over the past sixty months by $60k to $650k. It is possible to find condos in Oahu for as little as $75k. Of course an ocean view or beach front property will cost significantly more money such as a North Shore 5k square foot beach front mansion for around 5 million dollars.
There are six islands where Hawaii homes may be purchase. Out of the other 126 Hawaiian islands, 124 are uninhabitable, one is uninhabited, and the other is privately owned. More rural choices for Hawaii homes among the islands are Molokai, Kauai, Maui, and parts of Hawaii.
Kauai was one of the first islands visited by Europeans. Captain Cook recorded a visit in 1778, although Kauai was inhabited by Polynesians as early as 500 AD. Single family Hawaii homes in Lihue, Kauai can be found in the mid-400k's, and the sky is the limit for Hawaii luxury homes with views and beach locations. Hawaii homes are good rental investments because many vacationers prefer to avoid the resort scene and choose to limit costs while experiencing to authentic culture of Hawaii.
A Hawaii home mortgage rate is currently carrying an APR of around 5.9 – the mid-six percent range based on a 20% down and a 30 year fixed rate. It is currently a buyers market with the national slow down in the housing market, so it is a good time to buy Hawaii homes on a low interest Hawaii home mortgage. The slow Hawaii homes market also means there are plenty of homes for sale to choose from.
One of the important things to consider when seeking Hawaii homes is that some mainlanders get what is known as island fever, a kind of cabin fever, when they live on an island. It is wise to spend some time renting different Hawaii homes to test your immunity to island fever as well as to sample the various island environments. Hawaii homes offer a wide range of pricing options, but they all offer location, location, location. So put on some flip-flops and sunscreen and head for the beach! Aloha!
Sources:
Oahu. Prudential Locations LLC. 2005. 18 June 2007.
http://www.brokersmls.com/ester.sisson/preview_s earch_results.asp?cd_Area=Oahu&previewregion=N />Oahu Metro. Prudential Locations LLC. 2005. 18 June 2007.
http://www.brokersmls.com/ester.sisson/preview_s earch_results.asp?cd_Area=Oahu&previewregion=M />Oahu Trends and Analysis. Esther Sisson's Hawaii Real Estate Home Page. 2006. 18 June 2007.
http://estershawaii.com/Trends%20and%20Analysis. htm
Hawaii Mortgage Rates . The Honolulu Advertiser. 15 June 2007. 18 June 2007.
http://the.honoluluadvertiser.com/current/bz/mor tgage
The Geography of Hawaii. Netstate. 6 June 2007. 18 June 2007.
http://www.netstate.com/states/geography/hi_geog raphy.htm
“History of Hawaii.” Wikipedia. 30 May 2007. 18 June 2007.
http://en.wikipedia.org/wiki/History_of_Hawaii
Related Articles
Owning Hawaii homes is not as unrealistic as one might imagine, and for vacationers who enjoy visiting the islands regularly Hawaii homes would prove to be a wise investment. There are many Hawaii homes for sale from those that are easier on the budget like condos up to Hawaii luxury homes. Even better is that Hawaii has been a state since 1959. This means that buying Hawaii homes in this tropical paradise isn't subject to the vagaries of real estate purchased under the laws of a foreign government in other tropical locations.
The first task is to sort out just how much access is desired to urban life, which will dictate which island to shop on for Hawaii homes. Oahu with its bustling Honolulu metropolitan area is a popular choice for those who want to be on the islands, but who still want to be within driving distance of many of the big city cultural, sports, and culinary opportunities. Honolulu was listed as the 12th largest city on the 2000 census and has a rich cultural life. Hawaii football is very popular and the city hosts the annual NFL All Star game each February. Oahu median prices have fallen over the past sixty months by $60k to $650k. It is possible to find condos in Oahu for as little as $75k. Of course an ocean view or beach front property will cost significantly more money such as a North Shore 5k square foot beach front mansion for around 5 million dollars.
There are six islands where Hawaii homes may be purchase. Out of the other 126 Hawaiian islands, 124 are uninhabitable, one is uninhabited, and the other is privately owned. More rural choices for Hawaii homes among the islands are Molokai, Kauai, Maui, and parts of Hawaii.
Kauai was one of the first islands visited by Europeans. Captain Cook recorded a visit in 1778, although Kauai was inhabited by Polynesians as early as 500 AD. Single family Hawaii homes in Lihue, Kauai can be found in the mid-400k's, and the sky is the limit for Hawaii luxury homes with views and beach locations. Hawaii homes are good rental investments because many vacationers prefer to avoid the resort scene and choose to limit costs while experiencing to authentic culture of Hawaii.
A Hawaii home mortgage rate is currently carrying an APR of around 5.9 – the mid-six percent range based on a 20% down and a 30 year fixed rate. It is currently a buyers market with the national slow down in the housing market, so it is a good time to buy Hawaii homes on a low interest Hawaii home mortgage. The slow Hawaii homes market also means there are plenty of homes for sale to choose from.
One of the important things to consider when seeking Hawaii homes is that some mainlanders get what is known as island fever, a kind of cabin fever, when they live on an island. It is wise to spend some time renting different Hawaii homes to test your immunity to island fever as well as to sample the various island environments. Hawaii homes offer a wide range of pricing options, but they all offer location, location, location. So put on some flip-flops and sunscreen and head for the beach! Aloha!
Sources:
Oahu. Prudential Locations LLC. 2005. 18 June 2007.
http://www.brokersmls.com/ester.sisson/preview_s earch_results.asp?cd_Area=Oahu&previewregion=N />Oahu Metro. Prudential Locations LLC. 2005. 18 June 2007.
http://www.brokersmls.com/ester.sisson/preview_s earch_results.asp?cd_Area=Oahu&previewregion=M />Oahu Trends and Analysis. Esther Sisson's Hawaii Real Estate Home Page. 2006. 18 June 2007.
http://estershawaii.com/Trends%20and%20Analysis. htm
Hawaii Mortgage Rates . The Honolulu Advertiser. 15 June 2007. 18 June 2007.
http://the.honoluluadvertiser.com/current/bz/mor tgage
The Geography of Hawaii. Netstate. 6 June 2007. 18 June 2007.
http://www.netstate.com/states/geography/hi_geog raphy.htm
“History of Hawaii.” Wikipedia. 30 May 2007. 18 June 2007.
http://en.wikipedia.org/wiki/History_of_Hawaii
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