March 12, 2019
Mahalo to Appraisal Institute Hawaii Chapter for hosting us! Joe had the opportunity to educate Hawaii’s top appraisers on why national cost databases are not valid in the Hawaiian islands. According to his 2016 technical paper, Testing the Reliability and Validity of Area Cost Factors in Hawaii, actual Hawaii construction costs are about DOUBLE the costs national databases give us. What’s the solution to producing valid costs? Replacement cost estimates! View Joe’s slideshow here.