I would ask this in a general forum but it pertains to real estate in hawaii. This is for a condo @ Hookumu at Waikele.

1. How can 2br/2bath 2ns flr condo be worth $238k??
2 How can u have a "Land Value"on a 2ND flr apartment??? Its $45,900 for a 835sqft condo.I dont get it. Im not buying land. Im buying someones roof!
3. Land value:45,900 +Improvement Value: 85,300 = 238,000?? Did i miss something?
4. THIS IS A CONDO NOT A HOUSE!! $238,000???? Its not like its on a beach or even close. Its a 2nd story apartment with a tiny lanai!!No covered parking, $254 a month maintenance fee( for what?), partial furniture(which i would burn), appliances that have to be at least 5-7 yrs old, 1 ac unit for the whole unit and it isnt even in the bedroom.

I just dont get it...

 

It's all about supply and demand. Suppy on land is low, and demand for land is high; therefore, prices go up.

 

Go look up the average property value. Their is only so much of Hawaii.

 

I understand if i was buying a bit o'land but im not. Im buying someones roof. How cana roof have a 45k value??

 

you will also be sharing the ownership of the common areas. prices are crazy now, i think those townhouses were about $100k when new 10 years ago.

 

housing prices have jump dramatically over the past year with the low interest rates. about 18 months ago i was also looking at hookumu. a 2/2/2 2nd floor unit was going for about $150-165k. currently we are in a seller's market where the demand for home purchases are higher than what is available.

try checking out this website.
www. hicentral.com
i used it while shopping for my place. its also run by the honolulu board of realtors, so its pretty reliable.