Why Buy In Hawaii?

Hawaii's real estate is unique from the islands location,beautiful wheather, the population's diverse ethnic background, and the strategic importance of the Military.

Tourism in Hawaii is the number one economic provider in revenue sales and jobs.  Our Military is number two economic provider having approximately 120,000 retired military and veterans residing in Hawaii.   Defense expenditures in Hawaii totaled $5.6M in 2005. 

Hawaii is also home to the Pacific headquarters for the Army, Navy, Air Force, Marine Corps, and Coast Guard, with combat ready forces based at Schofield Barracks, Naval Station Pearl Harbor, Hickam AFB, and Marine Corps Base Hawaii. Military Impact

ADVANTAGES OF HOME OWNERSHIP

Financial Benefits

Pay less taxes.  For owner occupants the mortgage interest is tax deductivle as per IRS code.  Unlike rent which is paid to the landlord for their benefit. 

If a renter pays $2,500 per month for 36 month that equals $90,000 in rent which may have been invested or used to purchase a home.

Stable monthly payments.  A fixed rate mortgage shields the homeowner's housing payment from higher cost of housing or rent.  The property owner may pay higher or lower property taxes and insurance.

Home Appreciation.  Hawaii's real estate has appreciated 297.2% in the last 21 years.  Please view  Hawaii Real Estate Appreciation 

You home in Hawaii can be an investment vehicle used to help you plan for your retirement.  

If you sell your residence, you may be able to exclude from income any gain up to a limit of $250,000 ($500,000 on a joint return in most cases). To exclude the gain, you must have owned and lived in the property as your main home for at least 2 years during the 5-year period ending on the date of sale. Generally, you cannot exclude gain on the sale of your home if, during the 2-year period ending on the date of the sale, you sold another home at a gain and excluded all or part of that gain. If you cannot exclude gain, you must include it in income. To determine the maximum dollar limit you can exclude and for additional information, refer to Publication 523, Selling Your Home. You cannot deduct a loss on the sale of your home.

Personal Benefits.  A home provides a permanent place where your family can live and grow.  You can decorate or expand a house the way you want and create your Dream Home.  Generally, homeownership provides for a safe community with superior schools and friendly neighbors.