Discover the Charm of Hilo Hawaii Real Estate A Guide to Investing in the Big Island Paradise
hilo hawaii real estate
234 Waianuenue Ave Suite 219
Quick Facts
• Hilo is the largest settlement on the island of Hawaii with a population of around 45,056.
• The median home price in Hilo is approximately $430,000 to $530,000.
• Hilo’s real estate market is relatively slow-moving compared to other areas in Hawaii.
• Many Hilo homes are found in historic districts with historic architectural styles.
• Luxury properties in Hilo often have ocean views and large acreage.
• Hilo has a relatively low cost of living compared to other areas in Hawaii.
• Average rent in Hilo ranges from $1,000 to $2,000 per month.
• Hilo has seen steady growth in recent years due to an influx of remote workers.
• Hilo’s market primarily consists of single-family homes, with some condominium and townhouse options available.
• Due to Hawaii’s strict land-use laws and geographical constraints, there is limited land for new development in Hilo.
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Hilo Hawaii Real Estate A Hidden Gem for Homebuyers and Investors
Located on the eastern coast of the Big Island of Hawaii Hilo is a charming and historic town that offers a unique blend of natural beauty rich culture and excellent real estate opportunities Whether you are looking to buy a home retire or invest in a vacation rental property Hilo real estate has something to offer to suit every need and budget
A brief history of Hilo Hawaii
Before we dive into the world of Hilo real estate let us take a step back and learn a little bit about the town itself Hilo has a rich and fascinating history that dates back to the early 19th century when it was a major commercial center for the sugar industry The town was officially founded in 1866 and its name is derived from the Hawaiian word for overturned which was inspired by the lava tubes that crisscross the area
Today Hilo is a thriving town with a population of around 45000 people and a vibrant arts and culture scene Visitors can explore the historic downtown area visit the Pacific Tsunami Museum shop for local handicrafts and dine at one of the many excellent restaurants The town is also close to several major attractions including Hawaii Volcanoes National Park Mauna Kea Observatory and Akaka Falls State Park
What makes Hilo real estate so desirable
So what makes Hilo real estate such a hidden gem for homebuyers and investors Here are just a few of the many reasons why this charming town is attracting so much attention
Outdoor recreation Hilo is surrounded by stunning natural beauty including lush rainforests towering waterfalls and towering volcanic landscapes This is a paradise for outdoor enthusiasts who love hiking biking surfing and exploring the great outdoors
Affordable housing compared to other parts of Hawaii Hilo real estate is relatively affordable with a range of properties to suit different budgets Whether you are looking for a cozy apartment a historic home or a modern mansion Hilo has it all
Rich culture and history Hilo is a town with a rich and fascinating history that is reflected in its architecture cuisine and cultural events Visitors can explore the historic downtown area attend a traditional Hawaiian luau and learn about the history and customs of the local people
Excellent schools and universities Hilo is home to several excellent schools and universities including the University of Hawaii at Hilo which offers a range of academic programs and research opportunities
Strong economy Hilo has a strong and diverse economy that includes industries such as agriculture tourism healthcare and technology This provides a stable foundation for property values and rental income
Types of properties for sale in Hilo
Whether you are a firsttime homebuyer an investor or a retiree looking for a place to call home Hilo real estate has something to offer Here are just a few of the many types of properties for sale in Hilo
Singlefamily homes from cozy bungalows to spacious mansions singlefamily homes are a popular choice for buyers looking to put down roots in Hilo
Condominiums for those who prefer the convenience and security of condo living Hilo has a range of condos for sale from studio apartments to luxury penthouses
Vacation rentals whether you are looking for a cozy cottage or a spacious vacation home Hilo has plenty of options for investors who want to rent out their property on platforms like Airbnb
Land and lots for buyers who want to build their dream home from scratch Hilo has plenty of land and lots for sale with stunning views of the surrounding countryside
Farm properties for those who want to live the locavore dream Hilo is famous for its coffee farms and other agricultural enterprises
What to expect when buying property in Hilo
Buying property in Hilo can be a complex and timeconsuming process but with the right guidance and expertise it can be a smooth and successful experience Here are just a few things to expect when buying property in Hilo
Local market trends Hilo real estate is subject to local market trends and fluctuations so it is essential to stay up to date with the latest news and trends
Property inspections whether you are buying a singlefamily home or a condo it is essential to have a property inspection to identify any potential issues or defects
Financing options buyers have a range of financing options to choose from including traditional mortgages private financing and governmentbacked loans
Local regulations and laws Hilo has its own set of regulations and laws governing property ownership and use so it is essential to familiarize yourself with these before buying a property
The role of a real estate agent A good real estate agent can make a huge difference when buying property in Hilo They can provide expert guidance and advice help you navigate the local market and facilitate the buying process
How to find the right real estate agent in Hilo
Finding the right real estate agent in Hilo can be a daunting task but with a little bit of research and due diligence you can find the perfect agent to suit your needs Here are just a few things to look for in a real estate agent
Local knowledge a good real estate agent should have in depth knowledge of the local market including trends sales data and local regulations
Communication skills a good real estate agent should have excellent communication skills and be able to keep you informed every step of the way
Experience a good real estate agent should have plenty of experience in buying and selling property in Hilo
Networking a good real estate agent should have a strong network of contacts including other agents lawyers and property experts
Testimonials a good real estate agent should have lots of happy clients who can provide glowing testimonials and reviews
Conclusion
Hilo real estate is a hidden gem for homebuyers and investors who are looking for a unique blend of natural beauty rich culture and excellent investment opportunities Whether you are a firsttime homebuyer an investor or a retiree looking for a place to call home Hilo has something to offer to suit every need and budget With its affordable housing outdoor recreation opportunities excellent schools and strong economy Hilo real estate is an excellent choice for anyone looking to invest in the Aloha State
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Frequently Asked Questions:
Hilo Hawaii Real Estate FAQ
Q What is the average home price in Hilo
A The average home price in Hilo can range from 400000 to 700000 depending on location size and condition of the property
Q What types of homes are available in Hilo
A Hilo has a variety of homes including single family homes condominiums townhouses and apartments ranging from modern to historic and traditional Hawaiian style
Q Are there any beachfront properties in Hilo
A Yes Hilo has a few beachfront properties but they are limited in number and tend to be more expensive with prices starting from around 1 million dollars
Q What is the typical cost of renting a home in Hilo
A The typical cost of renting a home in Hilo can range from 1200 to 3000 per month depending on location size and condition of the property
Q Are there any properties available in Hilo for first time home buyers
A Yes Hilo has a variety of properties available for first time home buyers including condominiums and single family homes with prices starting from around 300000 to 400000
Q How long does it take to close a real estate transaction in Hilo
A Typically it takes around 60 to 90 days to close a real estate transaction in Hilo but this can vary depending on the complexity of the transaction
Q What are the typical closing costs for a home purchase in Hilo
A Typical closing costs for a home purchase in Hilo can range from 2 to 4 percent of the purchase price of the property and may include title insurance loan fees and appraisal fees
Q Can I finance a real estate purchase in Hilo
A Yes there are various financing options available for real estate purchases in Hilo including conventional loans FHA loans VA loans and more
Q Are there any property taxes in Hilo
A Yes there are property taxes in Hilo with rates ranging from around 200 to 500 per year depending on the location and value of the property
Q Can I find properties for sale by owner in Hilo
A Yes you can find properties for sale by owner in Hilo but it is recommended to work with a real estate agent to ensure a smooth transaction and to be protected under the law.
