Mainland Home Buyers see Hawaii as Safe Haven
Located in the middle of the Pacific Ocean, thousands of miles from any other land mass, many feel Hawaii is a safe place to invest and to stay healthy. Hawaii saw only 637 cases of the COVID-19 across its islands with only 17 related deaths, 11 on Oahu and 6 on Maui. In comparison the US mainland confirmed 1.47 million cases and 88,237 deaths and it is still spreading globally. Most cases identified in Hawaii were introduced into the state by travelers, including returning residents. Hawaii early on set up a two-week quarantine for any incoming travelers and required all residents to a “stay-at- home” period. Social distancing and facemasks were mandatory if you had to be outside your place of residence. With Aloha, Hawaii residences took these mandates seriously resulting today with no new active cases in the state.
Kauai island had a total of 21 cases with all but one case being travel related consisting of 16 residents returning to the island and 5 visitors. All recovered with no deaths and there have been no new cases for 5 weeks.
Since March 15th and the shutdown of Kauai with visitor quarantines and stay-at home mandates, Kauai has seen 82 properties go into escrow. Many of these were done sight unseen with virtual tours or those seen prior to COVID-19. Some properties were able to be viewed by visitors and residents on island using strict safe practices of social distancing, facemasks, gloves and sanitary wipes.
Kauai’s inventory remains low keeping prices stable in most areas, however some predict prices could rise slightly during the year with the increased buyer interest looking to find a safe haven. Loan rates remain low often under 3% depending on a buyer’s credit and purchase amount that provides extra incentive to buyers to invest. Donna Rice, a senior real estate advisor with Elite Pacific Properties. LLC stated “Kauai’s luxury market priced over $1.1M on Kauai remains strong with 8 of the 82 properties that went under contract since March 15th were luxury properties, including 3 beachfront properties on Weke Road in Hanalei that sold for $36 million.” Whether you are looking for a primary residence, second home or investment property Hawaii’s lifestyle, climate, organic foods, and location make it a safe and healthy environment.
Click the photos below for a few properties worth a look:
Questions? Contact Donna today (808) 651-2840