Molokai gets bad news, Oahu real estate is more stable as always

This morning's paper reported that Molokai farms is shutting down, taking 120 jobs away from the sparcely populated island. On an island with only a few thousand people and nowhere else to work, that is huge news.

People ask me everyday which island they should live on and start a business, and I always tell people that Oahu has the most stable economy and infrastructure. If you move to Maui or Kauai and try to start a business, you're going to be in for a rude awakening. In most areas of Maui, Kauai, the Big Isaldn, and Molokai, there aren't enough people to support a new business, and if you don't know anybody you'll have a hard time getting the word out. Traditional advertising doesn't work very well on those islands.

Oahu has nearly 8 times the population of other islands, with new people and new businesses springing up all the time. The closing of one business doesn't effect our island's economy the way it would effect a smaller island.

Oahu has a very deep and diversified economy that allows newcomers to easily get started and thrive. And that is exactly why Oahu real estate has been more stable than the other islands in this current market. While the neighbor islands' markets have dropped dramatically, Oahu real estate has been one of the most stable markets in the entire country.