You decide to make the jump to Hawaii. While I cannot stress that for some it is not worth it a lot of people will not listen to what I state and come here anyways. The people are friendly, the scenery is beautiful the food is pretty good overall. If it has all these pluses why would I state not to move here? My answer is where you are on your life journey, your job, and of course your goals. Most if not all humans want to have children so this blog will be geared towards real estate and why or why not it may not be a good idea to invest here especially if you want to start a family.

1: SCENARIO ONE (GOOD JOB NO KIDS NO WIFE)

In this scenario you have a great high paying job and want to buy a home. I’d say you can go for it but use the property as an investment that you want to flip in the next couple of years. The home will be worth dramatically more and you can flip the home should something happen to your employment situation with your organization. As you have no kids or wife the home should not be too expensive and cut into your expenses if you live there. If you want to use it as rental property be sure to have enough savings for yourself after investing twenty percent into the home. If you were previously military you have to stay in the home if you use your Va loan (The rules) so it is better to buy a duplex, live in one of the units and rent out the other units. Buy a home closer to Honolulu and Waikiki. The reasons for this is that you are alone and you want to ensure occupancy is high for your unit. With rent being in the thousands you do not want to take any chances, even on Hawaii, for vacancy of your unit or home especially since homes can cost an average of 600k here and also take in consideration the HOA fees.

2: SCENARIO TWO (GOOD JOB ONE KID NO WIFE)

DO NOT INVEST! In this scenario anything can happen here. Even with a good job on the island you have to take in consideration of the cost of a child. That could be anything from medical and private school expenses. I say this because the educational system here on the island is very poor. This is due to numerous factors that I won’t get into in this blog but after having your child in class after a while and seeing the lack of suitable educational materials you will want to put them into private school. Day cares, if you have a small child, can also cost at least 900 USD a month. With those funds going towards your child and not the maintenance of your unit I think the best option is to invest elsewhere

3: SCENARIO THREE (GOOD JOB ONE KID WIFE)

In this scenario I think it is okay to invest if you are smart about your investment. You need a high occupancy place. I would invest in a condo. Before you invest you should have enough savings in your account in order to balance out the down payment on the place. Because you both have income or savings to offset your wife staying at home instead of day care you should be fine if you planned things accordingly. I would not invest in a large home quite yet but, settle down for multiple smaller and less expensive units as the risk will be lower. SAVE SAVE SAVE. You do not need coffee everyday and technically not even a gym membership. If your apartment complex has a small gym use it. Your investments into real estate matter the most.

4: SCENARIO 4 (AVERAGE JOB ONE KID WIFE)

The scenarios that come next no matter what if they are average whether you are alone, with or without a kid or wife does not go in your favor unless you have enough savings. Do not invest in the island if you live here. Invest on the island if you live somewhere cheaper. If something goes wrong you may lose the little savings that you do have and the island lacks suitable jobs that are more plentiful on the mainland. You do not make enough to justify the the price of a home here. If you save enough money maybe you can take a risk but your efforts are best spent elsewhere.

Thanks for reading!

CHEERS!

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