Things are slowly improving for tourism on Oahu

Small steps forward for Oahu are being made, as tourism improves slowly but surely for the island.  While it is true that overall the recession hurt Oahu far less than many places on the mainland, the overall economy of the United States and the world has impacted tourism to Oahu and all of Hawaii.  Hotel occupancy has been improving in increments, up nearly 3% for the week ending January 23rd.

Overall room rates on Oahu are down in the 10% range, lower prices meant to attract visitors.  The lower rates appear to be working as occupancy rates continue to improve, just as lower mortgages rates and tax incentives are helping to improve Oahu real estate sales.  Slowly but surely Oahu and the rest of the country are moving forward.

Click here for an article from Pacific Business Journal about hotel occupancy in Hawaii.

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

Scholarships are available for Oahu students headed to college

Students on Oahu can get help for college from Hawaii Self Storage on Oahu.  The company offers the scholarships annually to Oahu high-school seniors.  The scholarship is for $1,000 but is renewable annually for up to $4,000 ($1,000 per year for four years of college).  To qualify for the scholarship students must be graduating seniors from a public high school on Oahu (Aiea, Pearl City, Farrington, Kaimuki, Kalani, Kapolei, Mililani, Moanalua, Radford, Waipahu, McKinley or Leilehua).  Students also must maintain a GPA of at least 3.0 to continue to receive the scholarship.

Hawaii Self Storage is a company benefiting students on Oahu, committing over $200,000 toward education in the past four years, the business personifies the Aloha Spirit.  Applications for the scholarships must be filled out by February 12.

For more information on the Oahu scholarships visit Hawaii Self Storage’s website by clicking here.

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

Oahu has much to look forward to in 2010

While it is true that the island of Oahu has suffered the recession with the rest of the United States, 2009 is over and the island is looking forward for 2010.  Some positives for 2010 are:

• Tourism is improving and Mainland and Japanese visitors are expected to increase.
• There is no inflation.
• It is a buyer’s market in terms of Oahu real estate, with low interest rates, decreased home prices & the first time home buyer tax credit.
• Hawaii consumers have stronger credit compared with most of the nation.
• You can’t beat the beauty and quality of life on Oahu.

While Oahu has felt the effects of the national economy, it hit the island later than  much of the Mainland and is expected to last a shorter period of time than many places as well.  Oahu has much to be grateful for.  2010 offers a great time to invest in Oahu.

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

Don't miss the conference this Friday that focuses on West Oahu

West Oahu has a lot going on, and people can learn more about its community later this week.  The 6th Annual West Oahu Conference will take place on Friday, November 20th, discussing everything that is happening in West Oahu and the direction that the area is heading.  Major projects that are occurring in West Oahu include the development of the rail transit system and new social services facilities.  The conference will focus on community and is titled “Building Communities from the Inside Out”.  The conference will offer education and insight about West Oahu, the City of Kapolei, and developments that are planned. If you are interested in learning more about West Oahu this event is not to be missed. For more information on the conference or to attend contact Barbie Rosario at (808) 842-1600 or email info@westoahu.org. .

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

Golf enthusiasts will enjoy the Ko'Olina Golf Club on the island of Oahu

As the northern states start preparing for winter golf enthusiasts may be mourning the end of a season.  The good news is that there are many places where the golf season never ends one favorite being the Ko’Olina Golf Club on Oahu.  The Ko’Olina Golf Club offers a wonderful golf course which has hosted a variety of golf tournaments, including the LPGA.  Playing golf is always more enjoyable in a beautiful setting and this Oahu location offers a stunning landscape filled with lush gardens and ocean views.

For families who like to vacation together but not necessarily all play golf together the Ko’Olina Resort has many amenities to enjoy.  From stunning beaches to shopping this Oahu resort has something for everyone.

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

The rail project on Oahu is supported by Hawaiian businesses

The Oahu rail project is supported by businesses across the state of Hawaii.  The rail project is expected to reduce congestion and therefore create more traffic for businesses.  The most congested traffic in the state of Hawaii is on the stretch of roadway between Kapolei and Honolulu.  The rail project on Oahu will allow people to avoid driving, therefore reducing traffic and making their own commute much more tolerable.  Easing congestion is seen as a way to boost commerce on the island of Oahu.

Another benefit of the Oahu rail project is job creation.  This project could not come at a better time, when unemployment levels are rising.  The rail project will help boost the overall economy on Oahu.

For more information on the rail project click here.

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

The newly expanded tax credit is great for Oahu real estate

The newly extended and expanded tax credit is sure to benefit real estate on Oahu.  There is no doubt that the First Time Home Buyer Tax Credit helped to boost real estate sales on Oahu.  The expanded version of the tax credit now includes current home owners that have owned their home for at least five years.  What does this mean for Oahu real estate owners?  If someone has owned in a home on Oahu for at least 5 years and they want to trade up and buy a bigger home they can get up to a $6,500 credit at closing.

The tax credit has been extended into 2010.  Any properties need to be a primary residence and have to be under contract by April 30, 2010 and closed by June 30 2010.  The credit is available for real estate valued at up to $800,000 and the income restrictions are $125,000 for an individual and $225,000 for a couple.

If you would like to purchase a home for the first time on Oahu or trade up, contact John Riggins today.

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

Using a CDPE can help make purchasing foreclosure property on Oahu successful

Short sale and foreclosure properties, prevalent on Oahu, are also known as distressed properties.  While unfortunate for the home owner, distressed properties can off great opportunities for the Oahu real estate investor, sometimes that is.  A potential buyer is much better served buying distressed property with and experienced broker, a broker who has a knowledge of distressed property sales.  CDPE (Certified Distressed Property Expert) is a classification for such brokers.  NAR (National Association of Realtors) has also come up with a new classification, SFR (Short Sale & Foreclosure Certification Program). In either classification the real estate broker is trained to handle short sale, foreclosure and REO transactions, which are much more complex and time consuming than traditional real estate transactions.

If you are looking to purchase distressed property on Oahu contact John Riggins today.  John Riggins is an experienced CDPE who can help make your real estate

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

Oahu real estate sales increased in October

Good news for anyone interested in Oahu real estate, reports show that sales were up in October.  Both single family home sales and condo sales improved on Oahu.  According to the Honolulu Board of Realtors 281 single family homes and 381 condos closed in October.  This is not only a significant increase from September but also a significant increase from October 2008.

The rise in home sales is a positive sign.  While property values are lower than last year, seeing the sales volume pick up is a sign of Oahu real estate getting healthier.  The First Time Home Buyer Tax Credit expires at the end of the month and the anticipation of it coming to an end has probably contributed to many of October’s sales.

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

The Oahu real estate market showed a marked improvement in September

September sales statistics show a marked improvement in home sales as well as home values on Oahu.  According to the Honolulu Board of Realtors there were 244 single family homes and 345 condominiums sold in September 2009, up over 13% from September 2008.  While home sales in general in 2009 are at a 10 year low, September’s sales data definitely represent a bright spot for the Oahu real estate market.  Low home values, the first time home buyer tax credit and historically low mortgage rates are seen as instrumental in boosting the Oahu real estate market.  Time is running out to take advantage of the First Time Home Buyer Tax Credit and sales should remain steady through November when the tax credit expires.  If you would like to take advantage of a buyer’s market on Oahu contact John Riggins today.

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.