the Hawaii real estate market is on fire, Confessions of a Realtor from the front line

the Hawaii Real estate market is on fire

Confessions of a Realtor from the front line…  The Hawaii real estate market  is on fire.  Unless you are actually looking to buy something right now you will have no understanding of how fast the market is moving.  We have been short of supply of properties to sell for so many months now, that this has become the new normal.  Buyers seem to want to take advantage of low rates and buy before a big upswing in prices.  Well the big upswing seems to be occurring right now.  Buyers are out in droves.

Recent buyers that I have worked with at first were shocked when they must fight a crowd to see a home for sale in Honolulu.  For many areas of the island, in both condos and single family homes, new listings receive multiple offers in days.  For many desirable properties first showings can be at a Sunday Open House or at a designated block of time.  Typically a deadline is announced when all offers must be submitted.  In these cases there is little room for negotiation on the Buyer’s side.  You have only one shot to submit your best offer.  It can be a frustrating experience for some.  When you are competing with many offers, it can be disheartening.

Bringing new clients up to speed

One of my biggest challenges has been how to bring new clients up to speed this market so they do not miss out on a property that really love.  Most tend to look back and find comparable properties from several months ago.  Unfortunately the market is moving so fast in some areas that sold properties even from a few months ago do not represent what a property may sell for right now.  It is the competition factor that seems to driving prices up.  When you have so much competition and knowing that their can be only one “winner”, it only forces prices higher.

Get financing and pull your cash together

It is important for Hawaii real estate Buyers to understand the market and to know very well what they can comfortably do.  In my experience Buyer need to define exactly what they want and how much they are willing to spend.  Getting financing, or pulling your cash together is imperative.  This helps Buyers be confident about what their budget and lifestyle can handle.

I have been very successful in helping clients purchase properties they really love.  I have even been known to find properties that are not even on the market.

Feel free to contact me for any questions you might have after reading this article.

Aloha,
Malia Meenderman,
Broker in charge. Bonnebaker Luxury home expert. Phone: 808-394-9779 | email |