Investing in hawaii has become unrealistic and a waste of time

[Andrey Y.]

The last 4 or so offers I made (at or above asking) on condos on oahu were blown out of the water..

1. Like 2 weeks ago on a 1BR in my building. I made a full price offer and bam, they had an above asking cash offer and 2 above asking back-ups cash offers!

2. Cash offer send to lender (on short sale no less), and buyer will pay delinquent fees.

3. My agent told me to wait until after the open house to offer, which I attended, and the agent told me they were expecting (and later received) a full price cash offer. I offered above asking. They also received a back up cash offer!

4. Also another I offered above asking, like 3 days after property on market. Seller receives 'strong' cash offer with 10 day closing. My offer only considered as back-up.

My broker told me its very rare in the area of property # 2-4 to have cash buyers, so he suspects its the same cash back-up buyer on #3 who offered on #4, maybe to do a 1031 exchange. All I know is, what was always fun is turning into tediousness. Don't want to offer cash again as I did on my last property in the area, and it kills CoC returns. I think its back to the drawing board and maybe thinking about out-of-state. Your guys' thoughts?