Imagine living in Hawaii in the 1970’s, housing prices are at an all time high: $100,000. In the 1970’s, you would have had a chance to own real estate in Honolulu, the prices are only going to go up! One day in the future it may even be worth $1,000,000. If you thought “If only…” while reading that, do not worry, you might have an opportunity to make an investment like that.
Before we go on, we want to acknowledge that $100,000 then is not the same as $100,000 now. If you adjust for inflation; $100,000 in 1970 equates to about $500-600K. Considering that the median sales price in Honolulu today is $800,000! That is a lot of money made in appreciation!
Hawaii is all about appreciation and always will be. Oahu is a small island in the world’s largest ocean. Land does not get more limited than that. On top of that the population of the world is growing and will continue to grow for the foreseeable future.
Honolulu, Hawaii is world famous and it is a dream to live in Honolulu for a lot of people. The prices will always keep rising because there is only one Oahu and only one Honolulu…right?
Not for long.
Kapolei has been nicknamed Hawaii’s “Second City” in the past decade. It is easy to see why. In 1990 Kapolei was little more than empty fields and dirt roads, shopping centers and schools did not even break ground till 93’.
Kapolei in the early to late 2000’s saw some serious growth, with two new shopping centers and additional stores, most notable edition was the Kapolei Target which had been Hawaii’s first Target, driving a lot of traffic to Kapolei from other parts of the islands. More franchises and local restrants were starting business in Kapolei. Developing neighborhoods expanded the population of Kapolei exponentially.
By 2010, Hawaii was already being referenced as Hawaii’s “Second City” but by now in 2020, a whole decade later, Kapolei has completely changed in size. Kapolei got its first shopping mall; Ka Makana Ali’i, complete with a movie theater, the third theater in the city. Kapolei also saw their previous shopping centers expand and saw a new shopping center emerge with more restraunts, gyms and shops. Kapolei to this day is still expanding its population with affordable housing, detached condos and single-family home neighborhoods.
Local companies that have been a staple of Honolulu are opening stores on Oahu to cater to the growing city. With that, the night life in Kapolei is starting to grow. Kapolei has never stopped growing and building since the 90’s. If you have just PCSed to Oahu and make your way to Kapolei, the city you are in is in fact the result of non-stop expansion for 30 years straight.
Do not take our word for it, there is so much to do and see in Kapolei you will make your way they’re within your first few days of being on Oahu.
We do not know how big Kapolei will become in the future, but there seems to be no end in sight to its growth. What is certain is that Kapolei is growing fast, and it is becoming more and more popular to live in Kapolei.
Like we stated earlier, land is limited on Oahu. Right now, you are faced with the same dilemma that a person in the 1970’s had buying a home in Honolulu.
You received orders to PCS to Hawaii and you have an opportunity to buy real estate with your VA home loan benefit for zero money down.
If you want to look at Kapolei homes click here!
If you want to see your buying power click here!