Have you wondered why the Oahu real estate market has done so well when you hear that parts of the mainland have dropped in price by 10 to 30 percent. 

Mike Sklarz, a local economist and housing market statistician, said O’ahu home prices are following a historical pattern of flattening after a steep increase. “It’s more like a staircase pattern — up and then sideways,” he said.  Sklarz and other economists said several factors — including population growth, low unemployment, stable personal income, attractive interest rates and relatively low foreclosures — have helped maintain home prices despite the relatively big sales slowdown.

Add to it the fact that we have the largest military housing project in history going on and the fact that we didn’t overbuild during this last cycle, so we don’t have a glut of inventory on the market.

Don’t expect the steep price drops that are occurring in some areas of the U.S.