Affordable Housing On Oahu

A better question, would be what do we get for $100,000? In the Oahu real estate market? Lets find out! For many of us the idea of a six figure salary and the nice round number of $100,000 is significant. Considering that the median income here on the island is less than $70,000 per year it is fair to say that saving $100k would be a significant feat for any of us. Luckily we have banks and loan officers to help us secure mortgages. As of this afternoon there were only studio apartments listed out in Waianae for less than $100k. They were all apartments with approximately 360 Sq Ft of living area. Realistically you could secure one of these $100k apartments with a mortgage and 20% down. This would mean you would have a 30 year mortgage at 4.25% and pay about $400 per month for the mortgage and approximately $450 per month in association fees and taxes. If you have $20k in savings and the budget to pay approximately $850 per month,  you could afford to be a studio owner in Wa...

This post is about Tear-downs. In real estate a tear down typically refers to a residence or structure on a property which was not properly kept. It's nearly Halloween and when you think of a haunted house, you have a pretty good idea of what a tear-down is. Due to gentrification and rising land value older and smaller structures can be demolished and replaced with larger more profitable buildings. Tear-downs come in many variations. The ones in the worst condition are literally demolished and hauled away to a landfill in their entirety. In these cases, an appraisal will typically come in equivalent to land value minus the cost of demolition. For example if the tax assessed land value of a property is $300k and cost of demolition is approximately $10k you can expect the valuation to come in at approximately $290k. Essentially the owner would be paying the buyer $10k to take the headache off their hands. Of course there are other factors but it's arcane and better left to pr...

Akoko at Ho'opili is a D.R. Horton development. Located in Ewa Beach, the Akoko development offers  2- and 3-Bedroom townhouses.  The Affordable Flats  start at $340,000 where as Market-priced Townhomes  start at $559,000. Qualifying for affordable housing means saving $220,000. As you can see, if you know someone who can qualify for affordable housing, it is an incredible benefit. The two and three bedroom layouts are meant for family living. This development is oriented toward couples and families who have children. There are five schools and the UH West Oahu campus near to the Akoko development. The units also each include two parking spaces. For families, multiple vehicles are a necessity due to our lack of public transportation options. As you can see on this map, the entire development is dependent on the H-1 freeway. My only issue with living on the west side is traffic. If you work or go to school in town the traffic will be hell. Thankf...

This week I'm writing about the A’ali’i Condos development going up in Ward Village. This development is not affordable housing but I feel that it gives insight into Hawaii's cost of living. The development site will be located at 987 Queen Street. Right next to the new multi-level Whole Foods and Ward Village with the theatre, shopping and dining options This project is for sale with this pricing structure: $500,000 for studio apartments (Approximately 1.6k/sq. foot) $700,000 for 1 bedroom apartments (Approximately 1.4k/sq. foot) $1,000,000 for 2 bedroom apartments (Approximately 1.3k/sq. foot) This is considered a premium location. The desirability of the location plus the luxury amenities is reflected in the price. The reason I wanted to write about this project is to break down the costs involved. Lets break down the costs to own a studio apartment at A'ali'i. The studio is $500k with a 4.25% interest rate on a 20-year mortgage.  Your monthly mortga...

The Central Ala Moana  is a condo development planned by SamKoo Pacific. The details and pricing structure have not yet been released by President Timothy Yi. The development will be located across from Ala Moana Center. This development is of great interest to me because of the developer's mission. I have had the opportunity to hear Timothy Yi speak several times. He believes in helping the community and the local residents of Hawaii. Although the specifics have not been released it is certain that 60 percent of the building will be classified as affordable housing. His mission is to allow Hawaii residents access to shelter which is a necessity. As a developer he is capable of helping Hawaii's people and he is doing that by providing housing and hopefully keeping maintenance fees low. As more information is available I will update this article.

Discussing North Korea:   After watching the video, what are your thoughts about how North Korea is run as a country?  We obviously think they may be a little "crazy," however, they think we are equally as crazy.  Let's stop and think for a minute- what if we are the "crazy" ones?  Additionally, how does this add to the discussion about intercultural communication?  We are certainly the crazy ones. Here in America we are allowed so much freedom. We don't have government handlers and we have many organizations dedicated to workplace safety. We have civil rights and the freedom of speech. Here in America nearly anyone can receive a driver's license and throttle a 10,000 pound truck down a highway at 100 miles an hour. Here in America a person can enter false information and receive multiple credit cards with six digit credit limits. He can  use those same credit cards to purchase firearms and ammunition. What a person does with that deadly vehicle...