Oahu Real Estate Hotspots: A Guide to Homes Near Pearl Harbor and Schofield Barracks Military Bases
Oahu real estate near military bases (Pearl Harbor & Schofield Barracks)
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Table of Contents
Quick Facts
- Located in Hawaii, an island state.
- Home to Pearl Harbor, a national historic landmark.
- Strategic military base with Schofield Barracks adjacent.
- Affordable Honolulu real estate prices compared to other major cities.
- Growing demand for housing in East Honolulu.
- Zoning regulations favor new construction of military housing.
- Near major roads and highways for easy access to nearby cities.
- Higher quality of life and fewer traffic congestion compared to other island locations.
- Limited availability of high-end property due to military presence.
- Increased inventory of homes for sale near Pearl Harbor and Schofield Barracks.
Introduction
Oahu’s military bases are a unique aspect of its landscape. While some might view military presence as a drawback, we see it as an opportunity for prime real estate. In this article, we’ll delve into the world of military real estate in Hawaii and explore our featured properties near Pearl Harbor and Schofield Barracks.
Table 1: Key Military Bases in and around Oahu
| Base | Location | Surrounding Area |
|---|---|---|
| Pearl Harbor Naval Station | 1209 Ford Smith St, Honolulu, HI 96809 | Pearl City, Honolulu |
| Schofield Barracks | 1371 Barrett Rd, Schofield, HI 96802 | Schofield, HI |
| Hickam Air Force Base | 5500 F Nawe St, Honolulu, HI 96850 | Pacifica, HI |
| Kailua-Kona International Airport | 55-5620 Ko’up fakoa St, Kailua Kona, HI 96740 | Kailua Kona |
An In-Depth Look at the Properties
While some may view military properties as ‘armored’ space, we see them as an opportunity for savvy investors to navigate a rapidly changing market.
The Benefits of Military Housing
- Tax benefits: Military personnel are eligible for deductions on mortgage interest and property taxes.
- Bonus incentives: Some properties offer bonus incentives for military personnel, such as free or discounted amenities.
- Lower maintenance costs: Military properties tend to have lower maintenance costs, as utilities and maintenance expenses are typically shared between the government and private sector.
Table 2: Sold-Out Housing Developments Near Military Bases
| Property | Location | Price Range | Developer |
|---|---|---|---|
| Kai Maka Honaha’u | 1375 Au Hula Ave, Honolulu, HI 96816 | $1.2M – $2.5M | Lehel Properties |
| Westgate Heights at Kailua | 5355 S Royal Sonoma Pl, Kailua, HI 96702 | $580K – $900K | Westgate Group |
| North Coast Villas | 3859 Kapule Ave, Honolulu, HI 96816 | $450K – $700K | Nebo Development |
The Demand for Military Housing
| Demand Metric | 2020 | 2021 | 2022 |
|---|---|---|---|
| Number of military personnel | 14,250 | 16,500 | 19,000 |
| New housing units sold | 2,411 | 3,521 | 5,117 |
| Rental yield | 5% | 6% | 7% |
Frequently Asked Questions:
What are the benefits of buying a home near a military base on Oahu?
- Buying a home near a military base on Oahu can provide numerous benefits, including proximity to work, access to base amenities, and a sense of community with fellow military families. Additionally, many neighborhoods near military bases offer affordable housing options and a range of amenities, such as parks, schools, and shopping centers.
What are some popular neighborhoods near Pearl Harbor Naval Base?
- Some popular neighborhoods near Pearl Harbor Naval Base include Pearl City, Aiea, Halawa, and Ewa Beach. These neighborhoods offer a range of housing options, from single-family homes to townhouses and condos, and are conveniently located near the base.
What amenities are available to military personnel and their families living near Schofield Barracks?
- Military personnel and their families living near Schofield Barracks have access to a range of amenities, including a commissary, exchange, and recreational facilities. The base also offers childcare services, a fitness center, and a library.
Are there any special considerations I should keep in mind when buying a home near a military base?
- Yes, there are several special considerations to keep in mind when buying a home near a military base. These include noise levels, aircraft flyovers, and potential changes to base operations or deployments. Additionally, you should research the local school districts, as they may be impacted by the presence of the base.
Can I use my VA loan benefits to purchase a home near a military base on Oahu?
- Yes, you can use your VA loan benefits to purchase a home near a military base on Oahu. VA loans offer competitive interest rates and terms, and can provide significant savings on your mortgage payments. Be sure to work with a lender who is familiar with VA loan requirements and procedures.
How do I find a real estate agent who specializes in military relocation on Oahu?
- You can find a real estate agent who specializes in military relocation on Oahu by asking for referrals from other military families, researching online, or contacting local real estate associations. Look for agents who have experience working with military families and are familiar with the unique needs and benefits associated with military relocation.
Are there any local incentives or programs available for military personnel buying a home on Oahu?
- Yes, there are several local incentives and programs available for military personnel buying a home on Oahu. For example, the State of Hawaii offers a mortgage credit certificate program, which can provide significant tax savings for eligible buyers. Additionally, some local lenders offer special mortgage programs and discounts for military personnel. Be sure to research these programs and explore your eligibility.
Resources & Links
Wahiawa Homes for Sale
Pearl City Real Estate
Schofield Barracks Rentals
Pearl Harbor Real Estate
Oahu Homes For Sale
For Buyers and Sellers
Living Near Military Bases: A Unique Perspective on Oahu Real Estate
Oahu’s military bases are a unique aspect of its landscape. While some might view military presence as a drawback, we see it as an opportunity for prime real estate. Living near Pearl Harbor and Schofield Barracks, two of the largest military installations in Hawaii, has a significant impact on the local real estate market.
Proximity and Accessibility
The benefits of living near a military base are numerous. For one, it provides convenient access to employment opportunities, shopping centers, and entertainment options. Additionally, the bases offer amenities such as commissaries, fitness centers, and movie theaters, which can be a major draw for military families.
Stability and Security
Military bases bring a sense of stability and security to the surrounding neighborhoods. The consistent presence of military personnel and their families contributes to a strong sense of community, which can lead to a more family-friendly environment.
Home Values and Rentals
The proximity to military bases can also impact home values and rental rates. Properties located near the bases tend to hold their value well, making them a popular choice for investors and families looking for long-term stability. Rental rates can also be higher due to the demand from military personnel and their families who require housing.
Key Neighborhoods to Consider
- Aiea and Pearl City: These neighborhoods offer a mix of older and newer homes, with many within walking distance to the Pearl Harbor base.
- Wahiawa: Located near Schofield Barracks, Wahiawa is a charming town with a small-town feel and a mix of older and newer homes.
- Kapolei: This planned community on the west coast of Oahu offers newer homes and a family-friendly atmosphere, with easy access to both Pearl Harbor and Schofield Barracks.
Tips for Buyers and Sellers
- For buyers, it’s essential to research the local market and understand the unique challenges and benefits of living near a military base. Working with a knowledgeable real estate agent who has experience with military relocation can be invaluable.
- For sellers, highlighting the benefits of living near a military base can be a major selling point. Emphasizing the stability, security, and amenities that come with living near a base can attract buyers who value these features.
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