Hawaii is a growing area, and one of the fastest growing cities in America. If you’re looking to invest in real estate, buying undeveloped land and building a house from scratch can be an excellent choice. Here are seven reasons why you should consider investing in real estate development in Hawaii if you’re looking to buy land.

 

1) Proximity to largest consumer market

First and foremost, it’s close to home. That means entrepreneurs don’t have to worry about relocating their families. Relocating is one of many headaches that come with starting a business; if you don’t have to do it, why not? Second, despite its close proximity, Hawaii has a small population of only 1.4 million people – meaning there is less competition than in other major metropolitan areas like California or New York City. Fewer competitors means greater opportunities for your business. Third, Honolulu is also one of America’s leading tourism destinations – welcoming more than 9 million visitors annually!

 

 Fourth, Honolulu is home to a handful of world-class universities, such as the University of Hawaii at Manoa and Chaminade University. These institutions attract brilliant minds from around the globe who are interested in launching their own ventures. This makes starting a business much easier because there’s a ready pool of knowledgeable talent available for you to draw from. Fifth, it has some of lowest taxes and operating costs compared with major metropolitan areas across America. In fact, one recent study ranked Honolulu number five on its list of best cities for doing business – up from its previous rank at number nine!

 

2) A growing population in need of housing

According to census data, approximately 100 people move to Hawaii every day. And although that's good news for economic growth, it can put a dent in homeownership rates; since only about 50% of those who live here are homeowners. If you're looking for a safe investment, real estate development opportunities abound on islands across Hawaii's 827 square miles. Here are seven reasons why real estate development is a good bet when it comes to investing in residential housing: 1) The tourist market is strong and getting stronger: More than 4 million tourists visit Hawaii each year, and they spend $10 billion while they're here.

 

 As a result, tourists aren't just paying for their own lodging and meals; they're filling up local businesses and generating income for local employees.

 

3) Strong economy

While other states have been struggling with debt and financial crises, Hawaii has been doing well, largely because of its healthy tourism industry. Additionally, experts say that employment rates will likely remain low across America for years to come; according to U.S. News & World Report, unemployment rates are expected to remain above 7 percent nationally through 2016. That means more people will be open to relocating and spending money on vacation homes instead of mortgages. All of these factors—combined with decent weather and a relaxed lifestyle—make real estate development in Hawaii an attractive option for developers who want their business to succeed even as others struggle.

 

4) Low labor costs

In both construction and landscaping, there are not as many regulations or restrictions as you might expect. This means that labor costs can be very low compared to what you'd pay for similar work in your area. For example, basic construction labor runs between $30-50 per hour, while landscape maintenance is $15-25 per hour. The ability to hire cheap labor makes it much easier for developers on a budget (like everyone) to get projects up and running. In general, if you're working with a firm that knows what they're doing and you have some land at your disposal, it's likely that real estate development will save you money when compared with buying a finished property.

 

 If you plan on building a new property from scratch, it's highly likely that you'll save money by doing so with real estate development. At a time when labor costs are rising and materials are getting more expensive, working with a development firm can help keep your costs down.

 

5) Access to top professionals

Even a small real estate development project can use a lot of hands on deck. The people behind a successful real estate development company have decades of experience and connections that allow them to draw from top-tier talent. This expertise is invaluable when you’re putting together your team, but it also becomes one of your most important assets as a homeowner or investor. Your relationship with these experts will help you keep an eye on things while also saving you money by avoiding unnecessary (and costly) mistakes. And, if something should happen, say all your units are destroyed in a fire...well, these professionals know exactly what they’re doing and can step right in while you get back on your feet.

 

 Of course, as a homeowner, you’ll want to meet your team face-to-face before trusting them with anything. You can get an even better idea of how well they work together during a site visit, where you can observe how they respond under pressure and ask any questions that come up.

 

6) Lower property taxes than mainland US States

One of few tax breaks offered by most states, property taxes have an indirect impact on homebuyers. Because local governments use property tax receipts to fund a variety of public services, lower property taxes mean that residents can expect better schools and more social services. In contrast, many states outside of Hawaii levy high income or sales taxes, making it difficult for families to afford a mortgage payment. Whether you’re looking for cheap homes or hoping to be able to afford a large home with plenty of amenities, buying real estate development property means paying less than if you live on the mainland U.S.A.. The low cost of living combined with high quality service has made real estate development in Hawai'i one of America's fastest growing markets over recent years.

 

 If you’re thinking about living outside of your home country, then owning real estate development property in Hawai'i is a great place to start. While mainland U.S.A.

 

7) Very warm weather year round

Honolulu gets only 33 inches of rain per year. As a comparison, Miami averages 55 inches of rain annually. This means that your home will require very little maintenance as compared to properties in other climates. If you enjoy working on DIY projects and love to maintain a house, you’ll find buying a property on Oahu is much easier than if you buy a home located elsewhere. You’ll rarely have to worry about replacing floorboards or repainting if you live in Honolulu! It’s easy for real estate developers who aren’t afraid of hard work!

 

 Honolulu is also one of few cities where you can be sure that you won’t run into snow or ice. As such, buying a home on Oahu is great for those who enjoy working on DIY projects, but have very little time during winter months due to inclement weather conditions. You won’t have to worry about replacing your floorboards after every other rainstorm because there simply isn’t as much moisture! It’s safe for real estate developers who are afraid of hard work!