The water in Hawaii might be a perfect 77 degrees, but the real estate insurance market is boiling over. 🌊 If you are looking to buy a condo or invest in Hawaii real estate, you cannot afford to ignore the “Climate Penalty.”
Recent data shows some Hawaii condo associations have seen insurance premiums jump anywhere from 300% to 500% in just the last few years. Major carriers like DTRIC have transitioned out of the homeowners market, and others have hiked rates significantly. Why? Because insurers view our warm, tropical waters as hurricane fuel.
But it’s not all doom and gloom. The State of Hawaii has reactivated the Hawaii Hurricane Relief Fund to help stabilize the market. Prices are starting to level off—but “stable” doesn’t necessarily mean “cheap.” It means available.
When you are buying Hawaii real estate, you can’t just look at the listing price anymore. You need to look deeply at the building’s Risk Profile. Is the condo fully insured? Or is the association about to pass the buck to you with a massive special assessment?
Paradise is absolutely still worth it. But you need a guide who knows exactly where the financial sharks are swimming. As the Principal Broker at Island Dragonfly, I help local families and global investors navigate these complexities to secure properties that make sense for both your lifestyle and your portfolio.
Let’s get you into a home that makes sense—dollars and degrees.
📲 Contact Jason Wong:
Website: https://jasonwong.us
Brokerage: https://islanddragonfly.com
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