You may want to consider buying an old house in the state of Hawaii, but a property appraiser says you may not be the right buyer.
Hawaii Real Estate Association president, Doug Koonin said in a recent interview that it’s possible for a buyer to walk away with a lot of money after the fact.
Hawaiian real estate appraiser, DougKoonin, has put a lot more stock into the property values in the islands.
In fact, according to the latest figures, the median price for all homes sold in the past year was $1.1 million.
Koonis estimates that a single family home sold in 2017 was worth between $400,000 and $450,000.
The market has been slow to adjust to the cost of living in the region, he said.
Koonis has also said that the market in Hawaii has been a “mess” since it was first developed in the 1980s.
In the meantime, Koonins own the property in the city of Kapolei that he bought from his parents in 2008 for $2.8 million.
He has a second property in Kapoleia, but he declined to say whether he was planning to sell it to anyone else.
Kookins current home is in a different part of the state, and he’s been trying to sell that home for several years.
In 2017, Kookins home sold for $5.5 million.
The state is still a major player in real estate and is expected to have the third-highest price growth in the country in 2020.
Koorins new house is one of the most expensive properties in the world, according the AP, which cited the AP research.
Koorins is a major owner of properties in Kapilo and Kapoleic and owns property in Oahu.
Kapolei’s market has seen an explosion in the number of condos and apartment complexes.
According to the AP report, the market has increased by about 5,000 units in the last three years.
The AP found that in 2017, more than 6,700 new units were built in Kapi.
It also reported that Koorin’s new house was among those that were built by builders who were building more condos and apartments than ever before.