Updated: Oct 21, 2020
The Hawaiian economy is struggling mostly due to lack of tourism brought on by suspect quarantine policies. However, one sector growing rapidly in the state is real estate. Industry groups of real estate agents, home builders and home lenders have sent a letter of thanks to California for this new found growth.
The open letter to the California State Government says, “We would like to express our gratitude for your many progressive policies that are driving Californians to our beautiful state. High taxes, homelessness, power failures, failed infrastructure and over crowding have motivated many to consider Hawaii their new home.” Custom home builder, Dean Bowman said, “It is crazy here. Many Californians are buying lots sight unseen. All those virtual workers from the bay area are escaping before their home prices crater.”
Rents have already dropped about 15% throughout California and they are expected to drop even further over the next year as California raises income taxes and finds other ways to make up for their budget issues. “Lower rents indicate a flattening and possibly a real estate recession in the state,” says Victor Hamas, banker from Oakland California. “We have seen this boom and bust cycle many times, but this time it looks like it could be permanent due to companies moving to 100% virtual work.”
A recent transplant to Hawaii from Southern California, Layla Coleman said, “The minute my job went to 100% virtual in April, I sold and moved to Maui. Instead of sitting in a car on a crowded freeway or a cramped home 3 feet from my neighbor, I wake up to the Pacific Ocean every day. I got about a 10% raise as well. The state income tax is half of what it was in California and sales tax is 4%.” Long time resident Sally Hernandez said, “We are expecting our home to increase in value. With a big upturn we will sell and move out. We have seen this movie before. Just look at Arizona, Oregon and Washington. Ruined due to California lefties. We are thinking Belize would be nice.”
It seems Hawaii is attracting a wealthy demographic from California. “White collar workers making 6 figures with virtual jobs are flocking here in droves,” says real estate agent Becky Luninia. They can’t believe what they can afford here. Especially when you get outside of Honolulu and the island of Oahu. Acreage and ocean views are still affordable here. They might have to get up a little earlier to work but the lifestyle is well worth it.”
Not everyone in Hawaii is happy with the influx of Californians to their state. Surfer and construction framer, Job Saunders said, “We don’t need anymore Starbucks, Trader Joes and Whole Foods on the islands. The soy boys and couch jockeys should just stay home. We like their tourist dollars but don’t need them importing their way of life. We like Hawaii just the way it is.”
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