Lanikai Real Estate Market Forecast 2023

 

Lanikai is a popular tourist destination because of its beaches and nearby water activities. However, for people who wish to settle down, Lanikai is the place to be. Located just behind the beach, the Lanikai neighborhood stands proudly, and fabulous homes are abundant. New and lifelong residents of Hawaii seek a life of luxury in this "heavenly ocean" community. Now, you can enjoy the same luxurious, beach-living lifestyle everyone else only dreams of savoring. Whether you're looking for your dream home or a wise real estate investment, the Lanikai housing market has plenty of promise. Mike Dilks is here to help you discover what the future holds for Lanikai's real estate market based on current 2023 trends.

The demand for homes is high in Lanikai, on the majestic Oahu Island. Only about 600 homes are currently in the Lanikai neighborhood, with varying amounts of land for each property.

Some awe-inspiring homes are within easy reach of the beach or right on it, while others are further above the sparkling sands. Other homes take advantage of the views seen only above the Mid-Pacific Country Club. No matter where you want to be, you will find a peaceful oasis.
The fantastic part of these properties is the residents' ability to create paradise and always be within two minutes of the beach. You'll find a variety of home styles to choose from, whether you want:

 

 

As new homes appear, some residences enjoy a more contemporary or modern style. It depends on what you prefer to make of your property within this upscale community.

In Honolulu, prices and demand for homes increased drastically during the pandemic. It is now leveling out home and property values, which are dropping back to within a normal range. Affordable home mortgage rates in Hawaii are causing an increase in people considering a primary or secondary home there.

For Lanikai real estate, fair market values increase because of the high demand for people seeking the beauty Hawaii offers. Lanikai homes have more space per residence, which offsets the high-end rates. It also results in lower prices per square foot.

What does this mean for you? Mostly, home values will average between $5,000 to $15,000 per square foot. The bonus is that these numbers can get you a high-end luxury property with ample indoor/outdoor living space.

Whether choosing your forever home or hoping to explore what it's like to live in paradise, it's always important to make excellent investments. In a prestigious area like Lanikai, there are many benefits to investing in real estate. The top benefits include:

 

Luxury real estate in Hawaii will never lose value. There will always be a demand for housing because the Islands have such limited space. Historically, this area has had the highest property value appreciation in the U.S.

 

If you choose another path in your future, the home you buy now can become a rental property income for you later. There is a high demand for rental property in Lanikai for all price points. Using your high-end property as a rental space may also give you tax breaks. This can help you pay your mortgage, property taxes, repairs, etc.

 

When you own a piece of Hawaii you'll reap the rewards only found with a laid-back, island-living lifestyle. The excellent climate, culture, and natural beauty of Lanikai make outdoor living a delightful possibility. Every day can be a new adventure, whether going on nature walks, honing your surfing skills, or strolling along the streets of Kailua. You have great choices regarding where you want to spend your time when you wake up each morning with the dazzling sunrises over Oahu.

 

Many of the lower-priced real estate properties in Lanikai have room for improvement. The more remodeling you will take on, the lower the cost of your investment, and in return, the more you can make if you seek another route with your investments. If you make wise investments and spend the extra on improvements, your return can double within a few years. If you want an investment property to secure your financial future, the Lanikai housing market is a prime solution.

Regardless of what goals you have for yourself, Mike Dilks will be delighted to help you find the perfect Lanikai property to make it happen. Visit us online to explore our available properties.