Honolulu Reporter

Although military families participate in 20% of all real estate transactions on Oahu, according to Hawai'i Life, realtor Shannon Mitchell doesn’t regard them any differently.

“I treat everybody the same,” Mitchell, a U.S. Army veteran, said. “I don’t target military people. They tend to seek me out. There’s a trust factor there because I am military, too.”

All military branches, including the Army, Navy, Marines, Air Force and Coast Guard, have a presence in Hawaii. In fact, Hawai'i Life notes that there are more than 10 military bases across the state, including on Oahu.

“Everybody stayed home,” Mitchell said about the impact of COVID-19 on real estate. “The only people that are out and about right now are the tourists who are slowly trickling back in, but as far as the military is concerned, nothing's changed.”

For Hawaii visitors, a Department of Transportation mandatory quarantine remains in effect, but Mitchell hasn’t experienced a slowdown due to the coronavirus. On the contrary, the retired sergeant turned real estate agent says business has been good for sellers.

“It's a madhouse,” he said. “If you're a listing agent, the average days on the market where I live is five to six days, but if you're a buyer's agent, you're competing with five to 10 offers on one property, which is bad for buyers because you're going to be outbid by someone who has more cash or who's going to come higher than the asking price.”

There have been 14,911 coronavirus cases and 215 deaths statewide, with 13,013 reported cases on Oahu, according to Hawaii's Department of Health.

But as far as Mitchell can see, the pandemic has provided a positive influence despite the shutdown.

“The Honolulu Board of Realtors shut down open houses for a couple of months but it didn't affect sales at all,” Mitchell told the Honolulu Reporter. “As a matter of fact, sales went up since COVID. The median sales price for homes and home sales has increased but the inventory has pretty much remained the same or lower.”

Realtor.com reported a 71% increase in single-family home delistings and 53% for condos.

“The only thing I have seen change is the interest rate, which is super low right now,” Mitchell said. “I tell my buyers to be prepared because there's a lot of competition out there, which is mostly people with cash.”

Mitchell has worked in the Hawaii real estate industry since 2005 and these days his listings are cleaning up.

“On the listing side, it’s been fabulous,” he said. “I'm racking up the change but as a buyer's agent, forget it. It's almost impossible. You're going to starve. On the seller side, I tell my clients not to do much to their property to get it sold. Just put it on the market and it will sell itself.”