The credit squeeze that has been going on is effecting the Jumbo Loan Market, Sub-Prime Market, Commercial Loan Market, and even Mergers & Aquisitions.   The effect on the Jumbo Loan Market, could effect million dollar plus properties in Hawaii.  Jumbo Loans jumped nearly an entire percentage point recently from the mortgage fiasco.  In doing so, it is costing buyers more to borrow the money to purchase that million dollar home (loan amount above $625,000 in Hawaii).  The following is feedback I received on one of my listings that is priced very well at the moment:

I checked with my lender and jumbos are so bad right now. I have a super FICO score and any one who is looking at this house would be having the same problems I am having regarding the mortgage payments.  They are so high due to the rates. They are almost $1,000 a month more compared to this other property that was higher in price a couple of months ago. The sub prime market problems sure did affect the jumbo market.