Comparing Your O’ahu Housing Options

If you look on the Facebook military family and spouse pages, you most likely have seen lots of scary posts about housing on O’ahu. You will also see a lot of people commenting with differing opinions on whether living on base, renting or buying is the best option.

Unfortunately, there is no one-size-fits-all answer to the best housing option for you and your family. The best option for you will depend on a few factors: your desired lifestyle, your family/household size, your monthly housing budget, how long you will be on island, and your long-term financial goals.

Keep reading for some tips on factors to consider when choosing your housing option.

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Consider your desired lifestyle.

Do you want to live in a community with other military families mere minutes from base? Or do you prefer living out in the local community?

Do you want the city lifestyle in a high rise, with bars, clubs and restaurants within close distance? Or to live in a cozy townhouse minutes from the beach?

Do you need a fenced yard for pets? Parking?

Your desired lifestyle is a big factor to consider when opting for a housing option. Oftentimes, base housing is best for families who want to be as close as possible to the service member’s work and who want to be surrounded exclusively by other military families. However, if you and your family want to live near the beach, in the city or get out and experience all that the island has to offer, you may want to consider renting or buying a home out in town.

Consider the size of your family or household.

Are you single or married? Do you have kids? If so, how many? How many pets?

If you have a very large family and need a large house, it may be difficult to find a house to rent or buy and stay within your monthly housing budget. Therefore, base housing might be your best option to get the housing size you need within your BAH. Contact military housing to find out what size of home you qualify for.

On the other hand, if you have pets and are considering military housing, check with the housing office for the pet policy. It is common to have a 2 pet limit, so if you have more than 2 pets, you may need to consider renting or buying over base housing.

Consider your monthly housing budget.

If you look on Hawai’i military Facebook pages, you will read lots of mixed reviews about military housing. Some people swear up and down that base housing is so much cheaper on a monthly basis. This is not always true.

First, BAH is Hawai’i is much higher than many other duty stations. As a result, you could be giving tens of thousands of dollars away in BAH each year if you rent or opt for base housing. We recommend taking a look at your annual BAH (BAH Calculator) and evaluating all your options.

Second, contrary to popular belief, it is very possible to rent or buy out in town and stay within your BAH. So, if these options appeal to you, don’t count them out based on price. Schedule a consultation today to see homes that may fit within your BAH.

Consider how long you will be on island.

How long you will be on island is an important factor to consider when deciding between military housing, renting or buying in Hawai’i.

If you will only be on island for a year or so, renting or choose military housing may be a safer bet and the easiest choice. On the other hand, the longer you are on island, the more money you stand to “lose” by paying someone else’s mortgage.

The longer you plan to own a home, the more likely it is that you will be able to sell your house for a profit when you PCS off island. So, if you plan to be on island for at least 2-3 years, owning a home may be a possibility.

Consider your long-term financial goals.

Consider your long-term financial goals and which housing choice will help you reach your goals.

Not sure which option fits your long-term goals? Request a Hawai’i housing options consultation here.

Julie Principe is a licensed real estate agent in the state of Hawaii (RS-84789) and is brokered by Keller Williams Honolulu (RB-21303).