Luxury Home Magazine

P R E S E N T E D B Y T I T L E G U A R A N T Y WHO BOUGHT HAWAII PROPERTY in 2015? Lower travel costs between the U.S. mainland and Ha- waii have boosted visitor arrivals in 2015, however, have not directly translated into increased visitor spending. Thus, Hawaii buyers continue to dominate as the top purchasers of Hawaii property, with $7 billion and over 13,500 more Hawaii properties sold compared to buyers from the second closest state, California. As in past years, the West Coast remains a strong player, with California, Washington, Texas, Colorado, and Oregon rounding out the top states. U.S. Buyers “Residential Home Sales in Hawaii: Trends and Characteristics.” Department of Business, Economic Development & Tourism: Research & Economic Analysis. State of Hawaii, 2 Nov. 2015. Web. 3 Mar. 2016. http://dbedt.hawaii.gov/economic/reports_studies/residential-home-sales-in- hawaii-trends-and-characteristics/ Sources: Volatile financial markets, a strengthening U.S. dollar, and a desire for safe-haven investment opportunities have shifted foreign investment focus from the stock markets to real estate. In Hawaii, this is particularly evi- dent among the Japanese, who have steadily increased their investment activity into Hawaii real estate year- over-year. Though Canadian purchases have steadily declined to its lowest sales figures in many years, they have maintained a strong second position with nearly six times as many sales compared to the next highest inves- tor, China. Watch for growth among the foreign buyers from Asia, particularly China, Hong Kong, Taiwan and Korea, whose purchases of Hawaii property reflected double-digit percent increases in units sold. Foreign Buyers T he surge in purchase activity by Hawaii and Japanese buyers in 2015 proved that Hawaii real estate was a sound investment for Hawaii and foreign buyers alike. U.S. and global events will continue to have a strong impact on our local market in 2016. MIKE B. PIETSCH CHIEF OPERATING OFFICER TITLE GUARANTY Top U.S. Buyers of Hawaii Property Jan–Dec 2015 (No. Purchases | $ Amount) Top 10 States 1. Hawaii (15,080 | $8.3B) 2. California (1,534 | $1.3B) 3. Washington (344 | $271.8M) 4. Texas (260 | $145.4M) 5. Colorado (156 | $118.4M) 6. Oregon (136 | $105.5M) 7. Florida (114 | $63.2M) 8. Arizona (112 | $79.1M) 9. New York (85 | $69.6M) 10. Nevada (84 | $75.6M) <$5M $5M - $20M $20M - $40M $40M - $100M >$100M Top Foreign Buyers of Hawaii Property Jan–Dec 2015 (No. Purchases | $ Amount) 1 2 3 4 5 6 7 8 9 10 Japan 308 | $233.4M Canada 152 | $129.8M China 26 | $23.6M Hong Kong 22 | $25.4M Singapore 12 | $14.3M Australia 11 | $3.4M Korea 10 | $5.9M Taiwan 9 | $4.5M Guam 6 | $3.0M France 5 | $2.2M Mike B. Pietsch, TG’s Chief Operating Officer, comments on Hawaii’s recent trend in buyers: “Whether your customer is domestic or foreign, you need a local professional who understands Hawaii real estate. With over 5,048 years of combined experience, Title Guaranty’s staff can foresee and address issues that affect your customer’s biggest investment.” BUYER STATISTICS Top Foreign Buyers of Hawaii Proper No. Purchases | $ Amo Top U.S. Buyers of Hawaii Proper No. Purchases | $ Amo 1 2 3 4 5 6 7 8 9 10 Japan 308 | $233.4M Canada 152 | $129.8M China 26 | $23.6M Hong Kong 22 | $25.4M Singapore 12 | $14.3M Australia 11 | $3.4M Korea 10 | $5.9M Taiwan 9 | $4.5M Guam 6 | $3.0M Franc 5 | $2. 1 2 3 10 4 5 6 7 8 9 JAN-DEC 2015 Title and Escrow is our business. Hawaii is our home. Visit TGHawaii.com S E R V I N G H AWA I I S I N C E 1 8 9 6