The Hawaiian real estate market has surged from its early-1990s lows.
It’s also a reflection of the state’s new economic model, where more and more homeowners are opting to buy in and use the state as a retirement home.
The boom has also led to some dramatic changes to the state economy.
Hawaii’s real estate bubble is just the latest of a wave of high-end residential construction.
In 2012, a decade after Hawaii started its bubble, the state added 3,600 rental units, more than any other state in the nation.
But Hawaii is no longer a boom state.
Its economy has stagnated and its unemployment rate is below 5%.
The state is also home to some of the most expensive housing in the country.
While Hawaii has a relatively high cost of living compared with most other states, it also has one of the highest property taxes in the U.S. And because of its unique business climate, it has a robust private sector that helps attract top talent.
When the housing market was at its peak in the 1990s, many of Hawaii’s most highly paid executives lived in the capital.
Now, the number of high earners in the state has declined as the number working in the private sector has skyrocketed.
Housing costs in Hawaii have risen by an average of nearly 20 percent annually for the past decade, the latest figures show.
For many Hawaii residents, the increase in home prices has come at a cost.
A survey of 2,500 adults conducted by the University of Hawaii and the Brookings Institution last year found that nearly one-quarter of Hawaii homeowners said they were struggling to make ends meet, while another 24 percent said they couldn’t afford to buy a home.
Hawaii also has become a magnet for foreign investors.
Foreign investors have poured in millions of dollars to build condominiums and other new buildings in Hawaii in recent years, helping the state create a $2.8 billion industry, according to a report by the Kauai Economic Development Corporation.
With more than 40 percent of the population in the workforce, Hawaii is a major international hub for business, and a new wave of investment has helped to drive the housing boom.
Today, the Honolulu suburb of Kailua is the fastest-growing housing market in the world.
This year, Kailuanapas apartment complexes, which include luxury homes, are set to double in size, said David D. Clark, chief executive officer of the Kailoa Property Group, which operates three Kailau-area properties.
“The trend is clearly toward higher-priced housing,” Clark said.
“The demand is going to keep increasing.”
The housing boom is not without its critics.
Some residents are concerned that the new boom will drive more people into poverty.
Another criticism of the boom is that it’s creating a glut of affordable housing.
Many of Hawaiis condominium buildings are built on vacant lots, and the city’s housing department estimates that about half of its housing stock is unoccupied.
And as more and, especially, more people move into the state, the demand for affordable housing is set to outstrip supply, according, to the Honolulu Housing Authority.
However, some economists have argued that Hawaii’s boom is good for the state and the country because of the benefits that it offers to young, educated, affluent people who may otherwise not have access to the kind of housing and other amenities that Hawaiis boomers enjoy.
Still, others are concerned about the growing demand for the kind.
They worry that the housing bubble will push young people out of the local, suburban, and rural areas and into the city.
Moreover, they worry that as more young people come to Hawaii, the price of homes in the city will rise and renters will have less money to buy.
According to a recent report from the Kaua’i Institute of Technology, the average home price in Hawaii rose by 4.6 percent in the past year.
That compares with a 3.5 percent increase in the national average.
As of March, the median home price for a home in Hawaii was $1.25 million, up from $1 million in the year before the bubble burst.
Most of the new housing is in lower-cost areas of the city and some of it is in high-income areas, but the demand has not yet been sufficient to keep up with demand.
It is unclear how many of the rising housing prices are due to the influx of foreign buyers, who are buying luxury homes for the same price as residents, or simply to a lack of demand.