While real estate continues to remain a hot commodity on the beautiful windward side of the island, there is no ignoring what’s happening on West Oahu, as the communities of Kapolei and Ewa in particular are seeing unprecedented growth. Today, we’re here to share some recent developments that indicate that now is the time to buy-in to the westside, before inventory becomes more scarce as savvy investors scoop up local properties.
Real Estate Market News Updates from West Oahu and Why You Should Invest Today
1. Former First Hawaiian Bank CEO Just Made a Major Investment in Ewa
First Hawaiian Bank’s previous CEO and head of Don Horner’s Malu Investments just laid down some big bucks to score prime commercial space in Ewa. The development (of what many speculate is the first of more to come from Horner) will be a medical office building, located on a one-acre site (purchased for $1.5 million) in the Ocean Pointe subdivision in Ewa Beach. Ocean Pointe is a highly desirable community in Ewa Beach, bookended by the Hawaii Prince Golf Club and Hoakalei Country Club, while remaining very affordable when compared to what you would find for a similar neighborhood on other parts of the island. For example, this current listing on Ocean Pointe’s Kai Weke Street is on the market for just $869,900. Horner’s investment is proof alone that buying into Ewa Beach today is a decision that will pay off for years and decades to come, but only if you act in a timely fashion.
2. Yes, Atlantis Resort At Ko Olina is Coming
It’s been awhile since most of you have heard news of the planned development of the Atlantis Resort at Ko Olina along Kapolei’s expansive shores. Rest assured, this massive (and we mean massive) resort community is coming. As of July 2018 we have been word that ground is expected to break sometime in 2019. Since construction has not yet begun, no opening date has been announced, but all is indeed confirmed. This first-ever Hawaii Atlantis Resort will be owned by China Oceanwide Holdings who purchased the 26 oceanfront acres in Ko Olina for $280 million a couple of years ago. Once the last brick has been laid, West Oahu will never again be the same – we’re talking full on global destination. No longer will Kapolei be referred to as the “new Waikiki” or the “new Honolulu”, as future community developments all over the Hawaiian islands will be chasing the moniker of “new Kapolei”.
Homes in Ko Olina, Kapolei, and neaRBy Ewa Beach are expected to jump up in value as the Atlantis project reaches fruition. Right now, you can buy into the Ko Olina, Kapolei area with currently affordable listings like this.
3. UH West Oahu Expands Degree Programs
We could spend our third point discussing another big commercial development (a great economic indicator for residential investors) in Kapolei, such as the 50,000-square-foot neighborhood shopping center anchored by Longs Drugs which is coming to a five-acre parcel of land at the corner of Kapolei and Kualakai parkways. However, we thought we’d mention the recent news from the University of Hawaii West Oahu campus, which is expanding its bachelor degree programs. Starting this fall, students attending University of Hawaii West Oahu will have access to a wider range of degrees. This is an investment in West Oahu’s future, one that will reap benefits for real estate investors today (i.e. condo rentals for students and faculty) and into the future as students become graduates and professionals who seek to make Oahu’s second city their longterm home.
There is no denying it – West Oahu is primed for residential investment. But again, only those who act now will reap the greatest reward. Contact the Richmond Realty Hawaii team today. Call us at (808) 284-1004 or email us at firstname.lastname@example.org