Oahu is known as one of the most beautiful places a person can live in due to it being paradise. But with that beauty, comes a price. The most expensive neighborhoods on Oahu offer views, amenities, amazing homes and so much more. If you are looking to spend a little more, but also receive a little more, take a look at these neighborhoods:

Kahala

Kahala is located near the eastern end of Diamond Head. When one thinks of luxury in Oahu, this might just be the first neighborhood that comes to mind. The real estate market is extremely expensive, but that money gives some of the best oceanfront views on any island. The homes are far enough away from downtown to be quiet and comfortable, but it is only a few minutes to drive to get to any stores and restaurants that you want. This is definitely the place for anyone who has a little extra money to spend for an opulent lifestyle.

Black Point

This gated community is often overlooked because it is very small and located on a peninsular. However, most people never get there because everyone is very private. This is definitely the place to go if you want peace, quiet, and seclusion. There is still some great beach real estate here, and the views are breathtaking, especially at night.

Lanikai

For those who like the best of both worlds: oceans and beautiful greenery, Lanikai is one of the premiere areas to set up a home. This area is somewhat small, coming in at only 0.5 miles, but it is known for having amazing beaches. This area is known for beautiful water views, but also the views of the Mokulua Islands. Finally, this area is very, very calm with a sense of tranquility and a “slower” lifestyle.

Hawaii Loa Ridge

Hawaii isn’t always known for its gated communities, but Hawaii Loa Ridge is the one you will want to live in if you want to have it all. This community is about 15 minutes away from downtown, but also offers some of the best views of the Pacific Ocean. Even better, this neighborhood is the best for those who want to live an active lifestyle. On a daily basis, you will be able to see hikers up and down the Hawaii Loa Ridge.

Beachside, Kailua

If you want to ensure that you won’t have to deal with tourists and their screaming children, Beachside is the perfect place. These luxury homes come with private access beaches of the Kailua Bay, meaning no one can just hop onto the beach. However, that does not mean that the area is lacking in amenities or special little things that make it relaxed and luxurious. Still, it will feel homey and you definitely won’t have to worry about any snobbish behavior - a lack of outsiders really brings this community together!

No matter where you go in Oahu, luxury and serenity will go hand in hand. However, living in some of these neighborhoods on Oahu will definitely cost you more than others.

You’ll need to put up between $1 million and at least $20 million to get one of the luxury condos being built at Ala Moana Center. The project, called Park Lane, is being developed by the Kobayashi Group, The MacNaughton Group, and BlackSand Capital and is being built at the old parking area of Ala Moana and will be located near the new Bloomingdale’s that is also getting built. The design actually came from a competition and brought in 93 different floor plan options to choose from. 

For the money, residents will get sweeping views of the Pacific Ocean in one of the seven eight-story buildings that are 100 feet tall and have 215 units each. The average unit will be from 850 square feet to a whopping 6,000 square feet. Residents will also enjoy residential parking and amenities such as swimming pools, gyms, and storage facilities. The aim of the developers is to have a family like feel that will allow for residents to be a community instead of just neighbors. There will be many areas where people will be able to get together, including a great lawn. Monthly maintenance fees for the one commercial unit are estimated to be a little more than $7,500 a month. Construction is expected to be completed in 2016.

Buying a home for the first time can be confusing and overwhelming if you don’t have anyone around to help you out. It can even be tricky if there is someone around to help you. People are trying to make sales and commission, so what they have to say might not always be in your best interests. Here are some compiled tips about buying your first home:

How long will you be here?

Are you and your significant other planning to have children? How many? Will you be taking care of elderly relatives? Maybe you want your house to be an entertainment center for the next couple of years before you move onto your next home. When or if you decide to move, how will that home resell? These are just some of the questions that you should ask yourself before deciding on a home. Thinking ahead can save you money in the long run and can help make your life easier.

What do you want?

Buying a home can be emotional for everyone. If you are purchasing a house with someone else, some of that emotion can come from negotiating what you want in the house. Maybe you want to have a pool, but your partner wants a huge gardening area and you BOTH want a grand foyer and you can’t find any houses that match those requirements. You will have to bargain, and you will have to decide what is most important. If you make a list, make sure to order the features of the house to give to your realtor.

Learn about the neighborhood:

This is especially important if you plan on having children. Will it be safe for your child to play outside? Will there be children of similar ages? Are there parks nearby? You may also want to check out the average ages of the other people – if you live in or near a college town, make sure the homes aren’t owned by fraternities or sororities unless you want loud weekends. You might also want to find out about things like flooding, weather patterns, earthquakes, and hail storms. All of these things can make not only home insurance, but car insurance double because you are in an unsettled area.

Check the Nooks and Crannies:

When people go to sell their home, they put a lot of work into making it seem like a great place to live – and it might be! However, there can also be many “quick fixes” and “smoke and mirrors” at play. Look around, and look closely at things like outlets, walls, foundations, kitchens, and bathrooms. There may be some hidden catastrophes that will cost you in the long run.

Overall, it is important to just go with your instincts and buy what you know will be a great home for yourself and for your family. Research is so important to the home buying process, and will help determine if it is a successful purchase or one to regret.

There have been widespread reports that the FHA will eliminate the prepayment penalty starting in 2015. The National Association of Realtors has been after this move for quite a while because it will relieve borrowers of a financial hit and may also bring the agency’s policies and procedures near other federal agencies that backstop mortgages. It will also align policies with the qualified mortgage rule (QRM) to define was a safe home mortgage loan is.

The interest rate charge is now eliminated – FHA borrowers who pay off their mortgages before the end of the month will no longer be susceptible to the charges of the remaining days. The policy will take effect on January 21, 2015. There are still issues to work on, however. The FHA and NAR need to work on their policies on condominium financing. Far too many condo projects are not getting the stamp of approval that they need to get FHA financing.