More Military means good news for Oahu Real Estate!

The army announced this week that they want to bring several thousand more soldiers to Schofield Army base, which is great news for everyone that owns real estate within 15 miles or so. There are already over 10,000 people working at and living at Schofield, and 2000-3000 new soldiers would greatly increase the need for housing in Mililani, Wahiawa, Royal Kunia, Kapolei, Waikele, and Ewa Beach.

Even those who are young enlisted guys can afford a nice condo in Mililani, and anything is better than living on base. The officers that come to Hawaii usually bring a good sized family with them, and a huge housing allowance around $3000. In Central Oahu, that’s plenty to buy a great house, especially in Royal Kunia.

Royal Kunia has a great back road access to Schofield that nobody else really travels. It’s about 20-25 minutes up Kunia road to Schofield, and the homes in Royal Kunia are great. Built after about 1995, all the homes in the area are nice and large, well built, and have a nice yard for the kids or dogs, or just lounging around.

Oahu has over 50,000 soldiers living here, and many of them buy homes and sell them a few years later for a great profit. With massive Hawaii basic housing allowances, the government is basically buying them homes here.

Right around Schofield there are some nice areas too. Mililani is one of Hawaii’s most desirable areas, with newer homes, older trees, and beautiful ocean and mountain views. Yes you can see the ocean from the center of Oahu, because it’s quite elevated.

In Mililani Mauka, you can buy a nice single family home for around $650k, and just one freeway exit north, you can get one for about $550k in Launani Valley, in Woodcreek. I recently sold 2 homes in Woodcreek that were both about that price, and both 4 bedrooms with a great little yard.

The military housing at Schofield is awful, so the opportunity to buy a home in nearby communities is a great option for anybody there. Now, the main point is that this is all very good for Oahu real estate in general.

Think about what would happen if just 5% of the 2000 new soldiers decided to buy a home here! That’s 100 new buyers in a market where only a few hundred homes sell each month on the entire island. Our market is greatly impacted by just a few new buyers.

If you’re coming to Oahu with the military, contact me and buy a home now!