What Does ‘AFFORDABLE’ HOUSING Mean on Oahu?
that differs depending on your zip code and financial situation. You may have looked into “Affordable Housing” or “Reserved Housing” and been slightly confused as to why those condo options are still over $400,000. In Honolulu, that’s actually a great price for a brand new apartment. In Bristol, Virginia, however, a condo that costs $400,000 is absurdity.
Affordability isn’t so much about price as it is about finding the best deal that you can comfortably afford. Finding good deals in a market like Hawaii takes diligence and patience. Finding that intersection of “good deal” and “nice place” is the definition of affordable in Hawaii.
EWA, KAPOLEI ARE BEST SPOTS FOR AFFORDABLE SINGLE-FAMILY HOMES
Want to buy your first place but won’t settle for anything less than your own yard? Ewa/ Kapolei is what you’ve been looking for. Construction in those areas has been non-stop as they are experiencing tremendous growth and a huge influx of new residents. Although competition is much higher due to the lower price points ($500,000-$700,000), you’re able to get a brand new home in one of the island’s fastest growing neighborhoods.
WEST SIDE ISN’T CLOSE TO TOWN, BUT IT’S AFFORDABLE
There’s an old adage that goes, “Move west for God and glory” — except in the case of Oahu, it’s more like: “Move west for more affordable real estate.” The west side presents a long commute for some, but it also affords many with a larger selection of quality, affordable homes. An older Hawaii feel, tightly knit communities and more laid back, rural lifestyle await you in Waianae and the surrounding area.
REMEMBER: AFFORDABILITY IS RELATIVE
There’s no right answer to the “affordable” question; it all depends on your situation. See what your options are, and if they’re not what you expected, make a plan to get where you want to be. Simply deciding that you want to buy a condo or house will get you in the right mindset, and then the pieces will start falling into place.
If you can’t afford to buy right now, don’t get discouraged. Contact a Locations agent, see what it takes to get there and start working towards it. Don’t forget to visit the website LocationsHawaii.com for the latest new listings and affordable-housing news.