The Star Bulletin Reported on June 20,2008 that Hawaii’s Income Forth in the US, The State’s Growth increased 1.6% from the last quarter.
Among the many reasons why Hawaii is a unique real estate market, and insulated from most of what happens on the Mainland is its status of high personal income. Personal income has a direct effect on the ability to purchase real estate. Placing number 4 in the nation is no small accomplishment.
Nationally, personal income dropped the last quarter of 2007 however Hawaii increased over that same period. Again, Hawaii is unique and does not usually follow Mainland trends.
July 5th, 2008 at 3:04 am
Wow! Live in Hawaii & make more money? Amazing that the stats reveal Hawaii raked in $52 Billions! Mind you, this is a chain of small tiny islands in the middle of the Pacific ranked #4 in the whole US, making that much dough, which is only 1.6 billion less than #1 & #2 combined! In perspective, #1 & #2, North & South Dakota, are HUGE states compared to tiny Hawaii. The Real Estate market in Honolulu is stable and out-performs most other real estate markets in the US. Think about this: wouldn’t you rather spend your hard-earned dollar towards owning a piece of PARADISE surrounded by the big BLUE OCEAN with perfect sunny & breezey weather all year round?? . . .Your thoughts, ZONA
July 23rd, 2008 at 6:23 am
I’m just wondering which residents and how many of them are skewing the average for the rest of us. I had no idea we were living in a state that has all the personal wealth.