The economy in Hawaii has recently been showing signs of a slow but steady recovery, a positive sign for the Honolulu real estate market. The market has seen many positive signs in the recent months, though 2009 was a struggle of a year overall compared with recent years, with prices down hefty amounts.

In December, a jump in foreclosures in the state put Hawaii into the top 10 states with highest foreclosures, putting the monthly and yearly totals at the highest levels since 2005, according to the Honolulu Star Bulletin. In December, one of every 84 homes in Honolulu had been foreclosed upon. There were 643 foreclosures in Honolulu in December, a rise of 169% from last year.

According to Data Quick statistics, in February, the median price for homes in Honolulu’s 11 Zip codes ranged from $275,000 in the lowest-priced region to $1.69 million in the highest. The median prices of Honolulu homes for sale were up in all but three Zip codes, and those three saw declines only in the 10% range. Other Honolulu regions saw increases as high as 114.5% in one area. Sales volume in February showed positive signs as well, as just two Zip codes experienced a drop in sales, and those saw just slight declines of 1.3% and 3.5%. Other regions saw substantial increases year-over-year, with the highest increase a 144.4% rise in activity.

The state has seen slides in prices all over, as it became ranked No. 2 in the U.S. in March for having the highest percentage of homes for sale at a discounted price. According to a March Star Bulletin article, Hawaii saw 24% of active inventory reduced at least once between March of 2009 and March of 2010. In Honolulu, that figure was slightly less pronounced, with 20% of homes for sale being reduced at an average price reduction of about 8%. This ranked Honolulu as 33rd out of 50 U.S. cities being tracked.

The world has come to understand that the earth’s natural resources will not be around several generations from now should drastic preventative actions not be taken. With polar ice caps melting, oceans being polluted, and oil wells going dry, mankind is hard-pressed to find alternative ways of living in order to better utilize natural resources and keep earth sustainable for years to come. “Going green” can be an effective way to help the planet and increase sustainability. While recycling is the best way to help the environment, Hawaii housing is also shifting its energy uses in order to best preserve the fragile Hawaiian landscape.

Notable company Tori Richard is leading the way locally by installing a $1.1 million photovoltaic system that will supply the majority of its energy. It hopes that by leading by example, several homeowners will follow suit and do the same. The company’s project took place at its headquarters in Kalihi and will result in almost 300,000 fewer pounds of carbon dioxide emissions and almost 5,000 less barrels of oil consumed over the life of the system. The new solar panel system will work hand-in-hand with a number of other “going green” initiatives that includes CFL lighting instead of inefficient incandescent light bulbs, upgrading to a more efficient air conditioning system, renewing roof-top coatings to reflect heat, and installing motion sensors on office lights.