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 PERSPECTIVES FROM MARKET PROFESSIONALS WHERE DO YOU SEE THE MARKET IN 2017? 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 W ith its stunning surroundings and exceptional investment appeal, Hawaii real estate is always a focus for local residents and out-of-state investors alike. After a consistently strong 2016, many want to know what is ahead for real estate in 2017. Title Guaranty reached out to a few of its real estate partners to get their perspective on where they see the market going in 2017. Here’s what these industry leaders and a few TG representatives had to say … Neal Norman Director Hawaii Life | Kauai “Kauai’s overall real estate market saw an excellent 2016 and I expect this to continue through 2017. The past year was particularly highlighted by a very strong demand for $5M+ beachfront properties on Kauai’s North Shore. Indicators suggest a strong 2017 to follow suit with two $10M+ beachfront, North Shore residential transactions already closed. I anticipate a continued upward trend in prices and volume island wide as we continue to see robust interest from strong cash buyers. I also believe that North Shore beach- front properties will continue to be Kauai’s feature story in the year to come.” Debbie Arakaki Partner, CRS Elite Pacific Properties | Maui “Happily, the rising stock market and rising dollar forecasts a positive financial outlook for the 2017Maui real estatemarket. We are seeing new housing projects starting for residents across the island. Maui’s ideal climate is particularly attractive this year due to the mainland’s current harsh winter conditions, making Maui one of the most popular worldwide destinations to buy into right now.” Carol Mendes Branch Manager | Kamuela Branch TItle Guaranty “The Kona-Kohala Coast luxury market continues to ride the momentum of high unit and dollar volume sales. The past few years indicate this trend will continue. I have seen growth in cash buyers, along with a continued interest among buyers from California, two characteristics within this luxury market that I do not see subsiding in 2017.” Alan Chun Branch Manager | Hawaii Kai Branch TItle Guaranty “East Oahu was a top performing market in 2016, with a 2% increase in the median sales price for luxury properties, and 8% overall. Although empty nesters have been downsizing to condominium living in recent years, I’ve noticed strong sales and a steady cash buyer market, with buyers both from Hawaii and abroad. If 2016 is any indicator, East Oahu’s luxury market is limited only by its supply in 2017.” Tracy Allen Vice President Coldwell Banker Pacific Properties | Oahu “Based on the flurry of activity we had at the end of 2016, we are off to a strong start in 2017. Buyers appear to be more motivated and ready to make offers, especially before the anticipated increase in interest rates. We will probably see a moderate increase in the median prices this year, especially in the lower priced properties. The luxury real estate market is very strong up to the $3 million price range. Above that range listings tend to take longer to sell, and it is critically important to have a seasoned agent with a strong marketing plan to help sellers maximize their net proceeds.” Robert S. Kildow Director of Residential Sales, Principal Broker Hualalai Realty | Hawaii Island “All indicators suggest another good year in the high end resort market. Our 2016 sales were 20% higher than 2015 and interest continues to be very strong. Consumer confidence is high with the stock market reaching record levels and there’s a hope that the new administration will be good for business. In addition, the resump- tion of daily non-stop flights fromHaneda, Japan will be good for the overall market and local business in general.” Mike B. Pietsch Chief Operating Officer TItle Guaranty “2016 was a strong year in the residential market and I feel this will carry through into 2017. I see this year’s overall statewide transaction volume being very similar to last year’s. Buyer financing may be a concern with a small uptick in interest rates. However, when it comes to buyers purchasing in the luxury market ($3M +), I believe we will continue to see roughly 75% of buyers paying cash. Hawaii continues to be an exciting market!”