By: David Kucic, RA
CRS, GRI, ABR, e-PRO
First Sergeant, USA (Ret)
RE/MAX Honolulu, Oahu, Hawaii
BAH Rates or "Basic Allowance for Housing Rates" are decreasing for many ranks in 2009 on Oahu, Hawaii.
The new rate calculator can be found at Hawaii 2009 BAH Rates. The rates apply to Schofield Barracks, Wheeler Army Airfield, Pearl Harbor, Hickam AFB, Marine Corps Base Kaneohe, Camp H.M. Smith or Tripler Army Medical Center along with any other servicemembers that are stationed on Oahu but not necessarily on a base such as: Recruiters, Servicemembers Attending College in Hawaii, AC/RC, National Guard Members that are on Active Duty.
This is the second time in as many years that many of the ranks will see a decrease in their amount of allowance amount for off post housing in Hawaii which is following the real estate market in Hawaii. As home prices decrease, the rental amounts decrease which is what the Department of Defence Finance is following.
Servicemember serving on Oahu that are already receiving BAH prior to 2009 will stay at the higher rate and be "grandfathered" as long as they remain in Hawaii. Servicemembers that have been stationed in Hawaii since the time that Hawaii BAH rates were at their peak in 2006 and 2007 are receiving the most money. Many of these servicmembers purchased Hawaii real estate in 2006 and 2007 under the assumption that their BAH was a certain amount each month. The Department of Defense makes a great choice by grandfathering for these servicmembers otherwise, they may not be able to afford their mortgage payments.
As I look at these decreases in Hawaii BAH but I also look at the decrease in housing prices and the fantastic interest rates on Hawaii VA Loans, everything seems to come out pretty even at this point despite the decrease in BAH. Jay Oku, a VA approved mortgage broker on Oahu, informs me of the interest rates on a daily basis. Lately they have been hovering right around 5% for a 30 year VA Fixed Rate Loan.
My RE/MAX Honolulu in Kapolei, Hawaii has several agents that are well versed in Military Relocations to Hawaii. For more information on available real estate in Hawaii, log in to www.HawaiiPCS.com.
RE/MAX Honolulu held it's annual Christmas party at the Hilton Prince Kuhio Hotel in Waikiki on December 13, 2008. Hawaii real estate agents from the RE/MAX Honolulu office in Kapolei, Hawaii as well as the RE/MAX Honolulu office located in Honolulu, Hawaii were in attendance.
John Harris our Principal Broker and Don Shore set up a great event with cocktails, dinner buffet and a "White Elephant" gift exchange. If you have never participated in a White Elephant gift exchange, it is a lot of fun. Jay Oku got stuck with one of the boobie prizes compliments of the white elephant exchange.
John Harris emcees the evening activities.........
We had our good friends Jay Oku, Hawaii Mortgage Broker and his lovely wife Yuka as our guests for the evening.
If you are relocating to Hawaii, living in Hawaii or just like nature, you should consider taking part in one of the major tourist attractions in Hawaii. This takes place during the winter months when the Humpback Whales migrate to Hawaii.
My family and I had went out on a whale watching expedition from Lahaina Boat Harbor in Lahaina Maui on Dec 12, 2008 and had one of the greatest experiences of our lives.
In this video you will see a whale tail which was awesome to see in person. We also saw 2 full breaches where the whales "flew" completely out of the water! It was one of the most amazing things I have ever seen in my life. To be able to see these endangered species in their own element was truly special. The second video shows mostly the splash from one of the whale breaches but if you "freeze" the video in the very first frame, you can see the whale body out of the water.
This post is a follow-up to a post I made a few weeks ago titled Short Sales in Hawaii Are Alive and Well.
Yes, it took a lot of work and a lot of telephone calls but the SELLERS NEEDED HELP and they turned to me to provide that service. The Sellers were a very nice, young, military couple that got caught up in purchasing a property during the height of the market and needing to sell because they were getting out of the military and moving back to the mainland. I DID NOT REPRESENT THEM ON THE PURCHASE OF THE HOUSE but was happy to assist them in their time of need.
Many Hawaii Military Members that purchased their homes in Hawaii during 2005 to 2006 now need to sell. Service member stationed at Schofield Barracks, Wheeler Army Airfield, Pearl Harbor, Hickam AFB, Marine Corps Base Kaneohe, Camp H.M. Smith or Tripler Army Medical Center and a few other bases used their VA Loan Eligibility to purchase a property during their tour of duty in Hawaii. They are in the same short sale situation as a Hawaii VA Short Sale which is just a little bit different.
Here are the FACTS about what transpired on this transaction:
SO PLEASE TELL ME AGAIN HOW LONG HAWAII SHORT SALES TAKE? AND WHAT ARE THE REASONS AGAIN THAT BUYERS ARE NOT BEING SHOWN SHORT SALES?
The Sellers were delighted to be done with the property and move on with their lives.
Now, let me tell you what the buyer got.......


If you need assistance with a Hawaii Short Sale or VA Short Sale in Hawaii, contact me anytime. I would be happy to provide you with the information that you may need in order to become another success story.
David J. Kucic, RA
CRS, GRI, ABR, e-PRO
First Sergeant, USA (Ret)
RE/MAX Honolulu
(808) 218-9338
Each year, the Aloha Aina or "Love of Land" awards are presented at the year ending General Membership Meeting.
To be recommended for the award, YOU MUST HAVE BEEN NOMINATED BY YOUR CLIENYS whether as a listing agent or a buyer's representative. Several of these real estate agents service Hawaii military personell across the island of Oahu as Hawaii Military Relocation Specialists for Schofield Barracks, Wheeler Army Airfield, Pearl Harbor, Hickam AFB, Marine Corps Base Kaneohe, Camp H.M. Smith or Tripler Army Medical Center
Congratulations to these Hawaii Real Estate Professionals for 2008! Tonya and I had the extreme pleasure of dealing with some of these agents throughout the year as mentioned in "Thank You Fellow Hawaii Real Estate Agents".
2008 Aloha 'Aina REALTOR® Award Nominees

Congratulations to all the nominees for the 2008 Aloha 'Aina REALTOR® Awards Program! This year there were 375 nominees for this prestigious program. Listed below are REALTORS® nominated for the "People's Choice" category. Ten winners will be announced at the awards ceremony during HBR's 2008 Holiday General Membership Meeting held at the Hilton Hawaiian Village on Friday, December 19. Mahalo to First Hawaiian Bank and The Honolulu Advertiser for their generous support and sponsorship of this Awards Program!
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Names and information courtesy of the Honolulu Board of Realtors.
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