With most places still under strict travel restrictions—including the Big Island—many people are wondering if this is still a good time to buy property. On one hand, interest rates are at an all-time low. On the other, nobody seems to be buying houses right now. So, even if you lock in an incredible interest rate, is it a safe investment, and can you even still buy property during the COVID-19 pandemic?
Buying a House During COVID-19
The COVID-19 pandemic has affected seemingly every aspect of our lives. Now, “going out” means sitting in your back yard, and “heading to the movies” means browsing Netflix from your couch. But after you’ve finished with all your home projects (or have gotten sick of your house entirely), you might be feeling like it’s time to start working toward your dream of moving to Hawaii. But is that even still a possibility? Of course it is!
What's an Ohana?
When searching for property on the Big Island, you might notice the term “Ohana” pop up every now and then. Hawaiian properties are unique and have special features not typically found on mainland properties, or at least, they aren’t called by the same names.
If you’re not sure what an Ohana is, you should probably brush up on your Hawaiian Disney movies. “Ohana means family. Family means no one gets left behind.” An Ohana, when used as a real estate term, is a place to put your friends and family when they come to visit. It’s a guest house!