Why Hawaii Housing Market is Not Crashing Yet! [Hawaii VS. National Trend]

But Sharashari, this trend line is completely spread, isn't it? That is, on August 23, it was 73 days in Vipani. We only have a few days, maybe a week more than that. 75 days, today 80 days. Hey, what is happening, friends? I think the Vipani here is in a state of ecstasy, both locally and nationally. I think it is a little less ecstatic than what has happened so far. Some people are still guessing about any kind of disaster that may come. So, what is Vipani doing in the last 3 years? I have some data on Vipani, which is going to examine some of the main data points that give us some insight about Vipani, both locally and nationally. Let's see if we can predict what will happen in the future and what will happen in Vipani. So, let's bring the data here. The first thing we look at is that we look from August 23 to August 25, right? At that time, when Vipani was in ecstasy in the middle of 2003, everything seemed to be in ecstasy. We are trying to examine a period of many years here to get an idea. Is it in ecstasy today or are there some different main data points from August 2003 today? That is what we are going to focus on. We are going to look at some major metrics such as listings, price reductions, days of Vipani, and availability. So, the first set of data here is looking at the Sajeeva listing. We all know that the inventory has increased dramatically in the last two years. Looking at the difference between the 23 markets and today's market, the most dramatic data point is the Sajeeva listing. If you look back at Hawaii, there were about 3,200 listings as a local business. As a local business on August 23, these are residential listings. Today, we have about 6,200 listings. Today, the number of Sajeeva residential listings in Vipani is 3,000 instead of 2,023. So, the distribution has doubled, right? That is, I think there is more inventory in Vipani. We think that August 23 is the last and the least amount of inventory we can see. So, it was extraordinary. Historically, it is not a coincidence. We are definitely dealing with a historical coincidence. But overall, you can see that the pink trend line, the Asian trend line, and the listing in Vipani on the Asian side are the same. Our Vipani in Hawaii is following the Asian trend. Because in the last two years, we have reached more than 1 trillion from 8 lakh Sajeeva listings even in the Asian side. So, the trends are almost the same. But over the past few years, the number of Sajeeva listings has definitely increased a lot. Then, what is the reason for the increase in the number of houses in Vilakuravu? So, many people say that they see a decrease in the price online. I think the price is decreasing. I see a lot of decrease in prices. So, this is the monthly data about how many houses in Vipani have decreased in price. First, if you look at the trend, the trend is very similar, right? It goes up and down. But the Asian trend is following the Hawaiian trend a lot, or the Hawaiian trend is following the Asian trend. But from the beginning of the year, from January 25, when there were about 1,200 houses in Vipani, we have reached there, right? Today, it is about 1,300. Today, it is 1,400. So, there is not much change in this 12-month period. Of course, this is a lot more than 3 years ago. That is, between 23 years, there were houses in Vipani with half the price difference between 6 to 700 units. But now that we see houses in Vipani for a longer period of time, there are more prices to meet. So, of course, there are more prices to meet before selling a house. So, that is a difference between 23 and 25. 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But Sharashari is spreading this trend line completely, right? That is, on August 23, Vibhani had 73 days. We only have a few days. Maybe a week more than that. 75 days, today 80 days. So, it's almost equal. There is no dramatic change. The trend line is almost equal to the national trend line. So, there is no big change in the number of Sharashari days taken to sell houses. What the seller should understand is very important. It is normal to take 70 to 90 days to sell a house. So, 3 months in the market is a very fair time. If you expect to be able to sell your house within 2 weeks, it may seem like a very long time. But not anymore. So, it is very constant in terms of how long it takes to sell properties. These are residential properties. This avoids land sales. Because it often avoids land sales. Because it takes more time to sell. But this is only focused on residential sales. So, it's been two years since the seasonal ups and downs. There is no big change here. This is the most important slide that gives us some insight into the future and what is happening in Vibhani. Right? Then, the number of pending listings is the number of pending listings. So, we can definitely see that the number of pending listings in Vibhani is very high. But if you take the number of pending listings in the land, the number of pending listings through the escrow process, and the number of pending listings through the transfer process, this number is very constant. This is a very good indication that there is no resistance. Nothing crazy is happening. Because if you look back at August 23, there were 1758 houses under the pending list. Today, that number is 1717. So, this is almost equal. If you look at it, there have been some ups and downs in seasonality again. There are some ups and downs that are similar to the national trend line. But there is no significant decrease in the number of houses under the pending list throughout the month. There are more houses in the market. You know that there are more houses that need to be reduced in price. But if you look at the big gap here, if it was 2000 in 23 years, if we had reached 1000 today, it would have been a disappointment. Because the number of houses under the pending list would be very low. It's definitely not like that. So, in total, the number of houses under the pending list is very, very constant. Even though there are more in the pending list, the days of the pending list are very constant, right? We have now examined it. There are more price reductions. It is actually a work of sellers who have higher expectations than the pending list. Before it is sold, the property is listed at a very high price. So, if you are a seller, you should remember that you know what your strategy is in terms of price decision. You do not want to pay a low price in this pending list. Because before the buyers buy, you wait until the price is reduced. In total, some of the most important things are these. It is very clear. There are more choices in the inventory. The buyers have more choices and the sellers have more competition. As I mentioned now, before the seller enters the list, you have to consider what their price decision strategy is. Because it really depends on how long it takes to sell it or whether it is selling. Yes, the market is getting cold, right? That's definitely what I meant. After death. For the past few years, there has definitely been a cold. But it is not breaking down. Because we can see that the number of those sellers is constantly increasing. In total, buyers have the opportunity to gain leverage in this list. Moreover, for the sellers to sell their property, a strong marketing and price decision strategy is required. So, there are exactly 20% opportunities. The list is constant. This is one thing that can be understood from this. There is no difference between what happens locally in Hawaii and what happens in the national list. We are still working a lot with different data points. So, if you have any questions about this in general or specifically about your product or market, you can always contact us through bigisland.com or click on the link below. There will always be a link to my calendar. You can book a meeting with me directly. We will definitely find a solution in the business you are interested in. We will call you and conduct a consultation with you. I always welcome you. Let me know if you have any questions in the comments. I will contact you. Nallathe chodikyu. Kulo.