My name is Mike Gallagher and I own my Brokerage here on Oahu.
Overall, in my opinion, Mililani Mauka is the better are to purchase into over Kapolei and Ocean Point. It cost more to get into Mililani Mauka but it is worth it in the long run in terms of appreciation. The hard part is finding somethign to buy. There is little or no inventory in Mililani Mauka right now and this is usually the case.
There is too much inventory in both Kapolei and Ocean Poin right now.
I have made you a set of graphs to look at and I have posted them onto my website:wwwhawaiirealestatestatistics.com under "Trulia Answers." It is a P.D.F. so you can open with the Free Acrobat Reader if unless you already have Adobe software.
There you will what you are looking for in order to make your comparisons in performance.
I recommend you also read my Market Reports including the new Oahu Report on my website as well.
Finally, I do not have a "Crystal Ball" to anwer your question about what is going to happen over the next few years but best guess is:
1) Interest Rates are going rise.
2) We will hit the bottom of the market sometime in the next few years
3) The rate of decline in home values is still slightly going down but at much less steeper rate than in the past few years. We are now 'flatline' in Sold Prices. For the most part they are going up or down.
If you have anymore questions you can contact me at email@example.com or 808-384-9015.
I wish you much Aloha,
Mike Gallagher, Mike Gallagher Real Estate, Inc.
There has been a lot of distressed properties in the Ewa area in the last few years, maybe more than any other place on Oahu. As a result, don't expect property values to grow much for the Ewa area in the near future. Of course your decision regarding where to buy should also take into account other factors such as traffic, access, climate etc... You probably know that Ewa Beach and Kapolei have a very similar drier climate but Mililani Mauka get more rain! .
Contact me directly if you want specific information.
Mililani Mauka is a little further from H-1, but most people I have talked to there really like it. It is more of an established area and a master planned community. Ocean Pointe is still having growing pains. The commute has gotten better, but there is still a lot of traffic. Why not check all three? They are relatively close together and could be surveyed pretty well in one weekend,
I have sold homes in all three areas. Have you visited each of them? You can some great buys in the price range you mentioned. Give a ring at 808 723 0900 if you would like to talk about it more.