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Honolulu (KHON2) – Kay Mukaigawa of Engel & Volkers talks real estate updates, and varying opinions on where Hawaii’s real estate market is headed.
According to Kay Mukaigawa of Engel and Volkers, When Hawaii mortgage interest rates started to climb, housing inventory sat for a longer period of time. While the “Days on Market” number increased, prices in general did not decrease as much as the public might think.
“It all comes down to the basic law of supply and demand. We live on an island with limited inventory, and there continues to be a strong desire to own your home. While we did see the increase in real estate values slowing, with the low supply and high demand, we did not see a “market crash” in 2022, and we don’t see this happening going forward,” says Kay Mukaigawa, President and Principal Broker of Engel and Volkers Honolulu.
Those looking to learn more about the 1031 Exchange or would like to attend Engel and Volkers Honolulu Saturday seminar can reach out via email or phone.
Engel and Volkers:
Website: honolulu.evrealestate.com
Phone: 808-725-2000
Segment Paid For by: Engel and Volkers Honolulu
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