Realty Trac came out with their latest Hawaii foreclosure stats that were published this week in the Star Bulletin. Lihue on Kauai led the state with the highest rate, however this was skewed due to Kauai Beach Resorts foreclosure, which accounted for 145 units.
Although, Oahu accounts for the majority of the population in the Hawaii, 65% of the foreclosure activity was on the neighbor islands. Ewa Beach led Oahu with the most foreclosures on the island with 65 in the month of August. Honolulu ranked 150th in the nation out of 203 metro areas tracked, which isn't too bad.
If you're looking for a great buy, Ewa Beach could be the place. In general, the construction is newer, the infrastructure is newer & Ewa Beach hardly lacks any sunshine The catch is the commute to Honolulu. Ewa residents that "fight traffic" stare into the sun driving to work in the morning & stare in to the sun in traffic in the afternoon... If you don't work the typical 40 hour work week in Honolulu, Ewa Beach has some great housing options. You can get a nice single family home built in the last 5 years for the same price of a 2 bedroom condo in Honolulu built in the 1970's. The wave of foreclosures hitting Ewa Beach is creating some great opportunities for buyers entering the market place!