Current trends in Hawaii Real Estate & how ‘Right Sizing’ is reshaping the market

Yvonne Ahearn, founding broker, and attorney from Oahu Compass discusses current trends in Hawaii real estate and explains how ‘Right Sizing’ is reshaping the market.

Into - 0:00
Personal Story - 3:20

Tips

Trends - 5:20
• On average U.S. citizens move every five to eight years.
• On average U.S. citizens move eleven times over a lifetime.
• U.S. citizens move more often during younger ages.
• Changes in family and at work are common motivating factors.

Covid - 6:15
• During Covid, many families have sought out larger living spaces.
• Upsizing became common due to increased time spent at home.
• The importance of home life became a priority.

Downsizing - 7:00
• Smaller living spaces are less expensive.
• Leveraging equity from a larger property is common.
• Changes in family often drive downsizing decisions.
• Decluttering is a good first step.

Rightsizing - 9:00
• Rightsizing is the biggest current trend.
• Our aging population wants accessibility, not large yards.
• Many developers are making buildings friendly for lifelong occupancy.
• Condominiums are often more cost effective than large homes.

Leveraging Equity - 11:45
• The value of many homes in Hawaii has increased dramatically.
• Some rent out large homes while residing in a smaller condo.
• Storing large amounts of personal stuff is one drawback.
• Paring down, gifting and donating excess stuff can be very healthy.

Recommendations - 17:30
• Minor repairs and remodeling elevates property value.
• Landscaping elevates property value.
• Proper staging of a home elevates property value.
• The return on investment from these strategies is often double.
• Find an experienced real estate agent aligned with your values and need.


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