KAILUA-KONA — Buying real estate in Hawaii isn’t an easy process — even less so for those looking at making their first leap to homeownership.
It makes it all the more important that potential buyers — seasoned or otherwise — have the most up-to-date stats, trends and tools to empower them to make the right decisions in real estate for them and their families.
On Saturday, the Kona Home Buyer’s Workshop hosted by Minoo Elison, principal broker at Connect Hawaii, aims to empower potential home buyers with the knowledge and tools they’ll need when looking at buying local real estate.
“The misinformation and home-owning myths make it confusing for people to know where to start,” said Elison. “Buying a home is possible for everyone, not just wealthy individuals. With support and information, people can own a home when they commit to learning and take little steps towards making it happen for themselves.”
The workshop, to be held at West Hawaii Today at 77-5580 Kuakini Highway, is scheduled to run from 10-11 a.m., and those interested must RSVP by Wednesday by texting (808) 255-8757 or via https://goo.gl/uyDgFh.
Connect Hawaii has been offering free workshops on this island and Oahu since 2014, Elison said, and with families going away to the mainland, she said she recongizes the need for local residents to find and get long-term housing.
“Home prices will always rise over the long term, being a homeowner stabilizes monthly housing costs and eliminates exposure to market forces that drive rents up,” Elison said. “Over time a homeowner can build equity and resources to purchase additional properties. Owning a home allows people to plan for the future and be empowered to contribute to the community.”
Median home prices here have been on the rise over the last two years, according to the Griggs Report, a semi-monthly publication by Michael B. Griggs.
According to the Feb. 15 report, the Kona residential median price was $632,000, a couple thousand dollars above where the median price was from August through January, but up a net 8.8 percent since this time in 2017.
Elison said the workshop is for local residents, visitors, first-time buyers and investors looking to learn what they need to buy local real estate, and whether they’ve already started the process of finding property or are just getting started. Her goal is to give attendees the tools they’ll need to succeed.
The workshop will cover both the current local market as well as national economic trends that affect interest rates. It will also offer fundamentals in financing as well as programs that can help keep costs low.
Attendees can also expect to learn the specific steps involved in the process of getting to home ownership to avoid surprises during the process.
“This gives clients the confidence to move forward at each phase,” Elison said. “It also saves time, money and stress because they know what to expect.”