Ever wonder who is buying all the real estate on Oahu? First American Title provided the following report that helps gain insight into the buyers of real estate on Oahu

Overwhelmingly, the properties being sold are being purchased by US Citizens and not foreign buyers. The United States accounts for 12,091 sales with the next closest country Japan at 203 sales. The price point for the foreign buyers was much higher in value than the average United States buyer. Foreign buyers purchased less properties but at higher prices. The US Buyer average sale was $870,294 versus the Hong Kong buyers who only purchased 8 properties but the average sales price of those properties was $2,902,575.

Of the 12,091 units sold to US buyers, 85% of the units were sold to buyers from the State of Hawaii. The next highest state was California which accounted for 7.5% of the units.

Foreign buyers bought primarily in the Metro Honolulu district which can be attributed to the new condo developments in Kakaako and the Ala Moana area. Waikiki has always been a big attraction for foreign buyers especially "snow birds" who like to live in Hawaii part time especially during the winter.
Mortgage Rates May 17, 2023

The Honolulu Board of Realtors website www.hicentral.com posts up to date mortgage rates from the different lenders on Oahu. This gives you an idea of what the rates look like as a trend but for individual rates on what you can qualify for, please contact your loan officer or I can refer one to you!
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