So, you're PCSing to Hawaii?
Congratulations on your new assignment! It's an exciting time with lots to think about, including:
- Should I ship my car?
- What about my pets?
- Is Hawaii really as expensive as I've heard?
- Where will my kids go to school?
Should I live on base, rent off base or buy a home?
The decision is yours, but the best choice financially is to buy a home and use your BAH allowance to pay your mortgage. There are many great neighborhoods across the island to choose from, many within 5-10 minutes from a military base. Once you make the decision to buy a home, contact a Locations Military Specialist. Our Military Specialists are experts in military relocation and home purchases who can help you find the best neighborhood for your circumstances and even help you to apply for a VA loan.
What do I need to consider?
Before you begin house hunting, you'll want to talk to our Military Specialists to learn about Hawaii's unique real estate market. Then you'll need to ask yourself a few important questions:
- How long do I plan to stay in Hawaii?
- Will I have pets?
- Which lifestyle influences are important to me, such as schools and proximity to work?
After you’ve answered these questions, talk with one of Locations Military Specialists. They'll help you get the information you need to make the decision that is right for you.
Advice from People who Know
Some of the military service members consider real estate to be an integral part of their long-term retirement planning, investing in real property at each duty station, and renting the property when it's time to move to the next assignment. At retirement, these service members have a portfolio of properties that generate income to supplement military retirement pay, making retirement much easier down the road.
With Hawaii real estate, chances are your investment will significantly increase in value over time. However, you'll need to consider carefully the right property to make this plan work. Remember, you may not be buying your dream home at each duty station, but you’ll want a property that can provide a good home while you’re there but is ultimately a good rental property when you leave.
Your Locations Military Specialist can advise you about your VA loan options for military personnel in Hawaii, as there are some differences between Hawaii and most mainland states. Once you've got all the facts about home buying in Hawaii, you'll probably find that owning a home in paradise is a smart financial decision.