Remote Work Has Made Hawaii’s Real Estate Market Tighten
Some homes are changing accordingly
Since the beginning of the pandemic, there’s been an increase in the number of jobs being done remotely. That, in turn, has led a number of people to venture across the country or around the world without the need to go into an office on a daily basis. Some of them might seek out smaller cities, scenic rural regions or spots where a larger place can be had for less money. For others, the aim might well be to live in somewhere tropical and idyllic — which might explain why demand for real estate in Hawaii is escalating dramatically.
A new article by Michael Croley at The New York Times chronicles how the rise of remote work has affected things throughout the state. That’s not just about the prices of homes — though that’s certainly a factor — but it also has to do with how designers are approaching new construction. Croley cites the example of Kohanaiki, described on its website as “an invitation-only private club community,” whose developers realized that the homes they were conceiving would likely need larger home office spaces to be appealing.
There’s also the fact that more people are buying homes in Hawaii, period. The article cites Hawaii Life chief executive Matthew Beall, who said that — as Croley phrases it — “his firm alone had experienced 307 percent growth in total dollar value.” The pandemic isn’t the only reason Hawaii is looking attractive to more and more homeowners, but it’s accelerated an existing trend — with no end in sight.
Thanks for reading InsideHook. Sign up for our daily newsletter and be in the know.
Suggested for you