It's January, and you are in a hammock stretched between two palm trees, a book in your lap. It's not a dream; it's your life on the beach in Hawaii. The big questions are: Can you afford to live on the ocean, and if so, is it right for you? And where are the best oceanfront locations?
Beachfront Home Values
Oceanfront properties on the island of Oahu vary greatly and tend to be somewhat eclectic. Most are in suburban or rural settings, not tourist spots. Clearly, these are the ultimate luxury homes for those who can live wherever they choose. If you have vision and means to achieve this, you will want to make your property very personal. You may select a high rise condo or a townhome, but most properties are freestanding single-family homes. It could be on a sandy beach, a marina with boat docks, or a rocky cliff - the ocean is your backyard.
What Oceanfront Costs
Single family homes on the ocean start at about $600,000 for less desirable waterfront locations, but the median price for homes currently on the market is about $3,000,000. Twenty-eight oceanfront houses sold in the past six months, with the median sale price at $2,000,000. Prices have remained stable for the most part, but a lower number of sales are taking place. This means that motivated sellers will need to offer attractive prices based on past sales, not pie-in-the-sky hopes. There is a smaller pool of buyers so negotiating opportunities exist. Beach houses can be found in these areas, starting with the areas that are generally most expensive: Diamond Head, Kahala, Kailua, Waialae to Hawaii Kai, Waimanalo, North Shore, Windward Coast, Makaha, Ewa Beach.
Oceanfront property is a rare and priceless treasure to enjoy and experience for a few years or a lifetime. Are you one of the fortunate few who will choose to live the dream? For more details on Hawaii homes on the ocean, just email me at email@example.com.