Asian property buyers flock to Hawaii

Posted: Aug 13 2014Last Updated: Jan 8 2016
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Ritz Carlton Waikiki13 August 2014 - With its multicultural community, Hawaii continues to attract considerable interest of  wealthy Asian, and particularly Chinese, property buyers due to long-standing connections with the continent, its location, amenities and recent direct flights from both China and Taiwan. Chinese buyers tend to be most attracted to the eastern section of Oahu and the upscale area of Waialae-Kahala, with new developments such as the Ritz-Carlton Waikiki popping up along the ocean shores and selling at over USD3,000 /sq.ft (HKD23,400 /sq.ft). Increased demand has contributed to the average home in Oahu rising 8.1% this year to approx. USD890,000 (HKD6.94M).

Prices of homes in Honolulu, the tourist and trade centre of Hawaii, also recently surpassed 2006 records, with stable growth expected in the medium term.

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