Ryan Oda

2020 was a year of learning and growth. Even though COVID numbers still remain high, there is light at the end of the tunnel since the vaccine is being distributed. As the year comes to an end, I have reflected on the following things... Finances There was a time when unemployment was over 30% in Hawaii. When the state got shutdown, I took a walk to Kapiolani Park. It was a strange sight to see since Waikiki was a ghost town. You could literally walk down the middle of Kalaka

Does anyone have a Dolorean? I would like to go back in time and buy single-family homes in Ewa Beach. Despite our COVID economy, single-family homes sales are doing very well in certain neighborhoods on Oahu. Homeowners might be leaving high rise condos to go back to back the suburbs. The Honolulu Board of Realtors recently released October's housing statistics. The median single family home price in Ewa Beach was $760,000 in October 2020; this was a 12% increase from the s

Facebook recently reminded me that I have been a homeowner for two years. It seemed like yesterday when my wife and I were signing our closing documents! Here are a few things that I learned... Mortgage Rates When we were looking at properties, mortgage rates were almost at 5%. When our offer was accepted, our mortgage lender informed us that rates went down. Rather than taking a gamble, we decided to lock in 4.65% at half a point. Around 6 months later, mortgage rates droppe

Greg, Robin, and I closed three buyer transactions last week. One was an off market, new development, single family home in Windward Oahu. The second was a single-family home in town; our clients bought it below list price. The third was a vacant, residential land on the outer island. Our residential real estate market has held up well during the pandemic. Why? Mortgage rates are historically low. No one knows how long mortgage rates will stay in the 2-3% range. The clients w

Archimedes of Syracuse, the famous Greek mathematician, once said, "Give me a place to stand and I will move the Earth." The use of leverage makes owning real estate unique. For example, let's say you have $100,000 cash. With that money, you could purchase a $100,000 home. In Honolulu, I doubt that will buy you more than a parking stall. The other, more common option is to get a mortgage through a lender. Most buyers try to put 20% down. If you were to buy a $500,000 condo, 2

Our housing market is usually one of the shining stars in our local economy. Despite COVID-19, Oahu's housing prices have remained steady or have increased in certain neighborhoods. While there were many uncertainties when the stay at home order was put in place, our housing market seems to have regained traction. One reason mortgage rates are in the 2-3% range is the FED is buying mortgage backed bonds. If this sounds familiar, the FED did something similar in the 2008 housi

Here are September housing updates.

COVID-19 has changed the way we lived. Some people are financially struggling and many businesses are closing. With increased COVID cases in Hawaii, I wonder if we will ever make it back to our old normal. Just last week, three well known restaurants announced that they will close. Chart House, Nobu's Kakaako, and House of Pure of Aloha at Ala Moana Center. Let's not forget retail giants like Pier 1 Imports and Jimmy Choo closed up shop too. What business is next? Not all com

The COVID-economy has contributed to our low mortgage rates. I had a client who just got prequalified for a sub 3% rate. We are actively looking for his first home. Due to a lot of economic uncertainty, will mortgage rates eventually fall to 0%? Len Kiefer, deputy chief economist for Freddie Mac, Tweeted, "Following the Great Recession, mortgage interest rates fell 4 out of the next 5 years, falling a total of about 3 percentage points. Are we going to have a 0% 30-year fixed

The economy is reopening, but many people are still financially struggling. According to a recent report, the Honolulu Board of Realtors (HBR) noted that 38% of tenants were unable to pay rent in June. To further get a deeper look at our economy, Hawaii's Department of Labor and Industrial Relations has issued more than $1.7 billion in unemployment insurance benefits since the start of the COVID-19 pandemic. When it comes to unemployment, more than one out of five people in H

Here is July's housing updates.

Since the start of the pandemic, I have been receiving calls from clients about our real estate market. Recent data has shown that prices are increasing, while closed sales have declined by double digits. There are still a lot of unknowns since COVID-19 is still a major concern in Hawaii. Every person's situation is different and unique. However, it could be a good time to... Buy Inventory has been low for decades. Due to COVID-19, it seems there are even less listings. If yo

You can be homeowner and still have student loans.

This is what we know about the real estate industry.

Here is May's housing update.

Here's how you can hedge your bet.

Here is April's housing update.

How coronavirus Is Impacting our housing market.

When the sky is falling, you should refinance.

Here are the housing updates for March 2020.