A changing market means new opportunities for those that are prepared
Sponsored by Berkshire Hathaway HomeServices Hawai’i Realty
If you’re looking to invest in Hawaii real estate, the experts at Berkshire Hathaway HomeServices Hawaii Realty say now is the time! HI Now host Kanoe Gibson is with Realtor Associate Scott Larimer to get an update on the market.
“We’re seeing an active real estate market locally which should be expected even in times of uncertainty,” Larimer begins. “Low rates and reevaluation of home life and lifestyle over the past six months have got people on the move. There’s certainly an increase in work from home scenarios as well a bit of a surge in multi-generational living.”
Larimer stresses that in a changing market, there are always new opportunities created for those that are prepared and working with a professional realtor.
“It’s important to look long term to build a balanced portfolio to weather different cycles and markets,” he explains. “Avoid trying to ‘time’ the market and stick to basic fundamentals of investing.”
Although Larimer can’t provide specific examples of the best investment to make since each buyer is unique in their goals, ability and financial capacity, he says careful planning and strategy are key.
“I work with my clients to find the approach and develop a search that will meet their goals and objectives,” he says. “As a buyer, it’s important to assemble your team if you have not already done so. You will need a tax advisor, loan officer and an agent who can help guide you through deciding on property with the strongest investment and opportunity of return.”
Larimer also says that Hawaii has been traditionally consistent in appreciation.
“There may be some areas not moving, but this could still make for good buys as long-term opportunities,” he says. “Be mindful of how seasonality, potential for natural disasters, or other factors can impact a specific market.”