Hawaii has a long tradition of attracting visitors from all over the world. However, at this time of the COVID – 10 pandemic, the country is focusing more on the health and safety of visitors, industry workers, healthcare providers, and the healthcare system. It is important to assure secure travel to ensure the continuity of tourism in the coming days. As the States is opening up again, there are chances of tourists coming back to Hawaii but only with the assurance of health safety from the State. Hawaii tourism authority believes that any recovery in tourism will be associated with the creation of “world-class safety protocols” supported by research and endorsed by health experts. By the moment, travelers board their plane to the islands, all tourists need to be assured that airlines, airports, hotels, restaurants, activities, and attractions are regularly offering protection from COVID-19.
Next to tourism, real estate is one of the hottest industries in the Big Islands. In terms of the distribution of home prices, the East side of Hawaii Island has the most affordable properties. In terms of pricing, the Kona side is more similar to Kauai. Some of the changes seen across the real estate industry are paperless transactions, all-digital tools, and virtual platforms for property showings. Many luxury home buyers are still searching and making offers. Due to the pandemic, there also have been cancellations. However, still, the homes for sales in Kailua-Kona neighborhoods are live due to buyers’ interest.
Hawaii Real estate key facts during COVID-19
- Hawaii’s real estate market suffered last month as a result of the COVID-19 pandemic. Hawaii is reacting to social isolation and sheltering-in-place procedures, “bending the curve” in a positive reduction phase, contributing to a potential stabilization by May, at a time which points the possibility of recurrent pandemic infection would have to be controlled
- The sudden rise of Hawaii’s coronavirus infectious hazard has an influence on the ongoing construction and development in real estate but expected to return to normalcy soon
- The big island regional and Kona housing markets have been in a relatively stable extended trajectory of modest, one-digit annual price appreciation and sales volume growth. This course would be broken by abrupt halt associated with the novel coronavirus, but it will act as a rational longer-term proxy for investor returns on the housing sector during the eventual rebound
Last month a number of Hawaii home sellers pull their property off the market and experts predict the re-listing rates to seem more reasonable. The rules have now been updated just a few weeks after the lockdown, the popular open houses are now gone. Vacation homes also with appointments have slowed down, but people do need luxury vacation homes and sales are happening. In-person showings are minimal and may or may not be a choice depending on the location. Luckily, with technology, it’s possible to keep doing the things that we’ve done before.
From Melomelo, the classic luxury home in Kailua-Kona, Hawaii offers 3D video tours, virtual appointments, Facetime to preview property at buyers’ convenience.