Hawaii is one of those places that people consider not just traveling and spending some time holiday making but also spending their life there, especially their sunset life. It is one of the largest tourist hubs in the world today, attracting people from all walks and corners of life. The scenery, climate, and what has been made of it can only be explained in a single word – paradise, for lack of better word.
Hawaii is made up of circa 4.1 million acres, with 50% of the land being owned by the federal government. 30% is owned by the public and 20% is owned by 7 private investors. The statistics further justify the effect of the supply and demand on the cost of real estate. With the current status of foreclosure in the United States, it is high time you start searching for the lucrative deals that Hawaii has in store. Of course the cost of living coupled with economic downturns significantly impacts on the high cost of living markets compared to low standard markets.
If you can afford living in Oahu / Hawaii , it is definitely worth looking at. Whether it is perfect climate that you want, incredible scenery, or want to relish city life, Hawaii will deliver to the letter. If you have not been able to make it to Oahu physically, you could start by browsing the web for pictures as a great and irresistible treat awaits you.
Over 90% of food in Hawaii are imported, carrying a 7-day supply of perishable food products. This is simply because the land is very expensive to grow crops on large scale basis in order to offset the measure. Further, the cost of shipping the large food supply also contributes to the cost of living considerably. Research shows that the cost of living in Oahu is 30-60 per cent higher than in the US meaning that for an average family of 4 to live comfortably, it should have an average household income of $110,000. The cost different however is justifiable thanks to the great attributes one gets on the breathtaking islands.
This means that people who bought property through ARM mortgages or those who have had to lose their source of income could be faced with foreclosure proceedings or risk selling the property at a loss because of the rising payments or inability to meet the mortgage obligations. Well if you are looking for a lucrative and unbeatable deal in Hawaii, this could work in your favor.