Discovering Paradise Homes on the Hawaii Big Island Guide to Buying Real Estate in a Tropical Oasis
hawaii big island real estate
Kailua-Kona, HI
Quick Facts
• As of 2023, the median sales price of a single-family home on the Big Island is around $700,000.
• The Big Island has a diverse range of climates, from tropical to desert, affecting property prices.
• The county’s land use laws govern the type of properties that can be built in certain areas, including agricultural and conservation lands.
• Hilo, on the eastern coast, tends to have lower prices compared to Kailua-Kona on the western coast.
• Many property owners on the Big Island generate income through short-term vacation rentals.
• Zoning regulations allow for larger lot sizes and fewer restrictions in rural areas.
• Homes in gated communities, like Mauna Kea Resort and Waikoloa, often require HOA fees.
• Certain neighborhoods near active volcanic zones, like Kilauea, may be more affordable due to geologic concerns.
• Water conservation measures are often implemented in Big Island homes due to drought concerns.
• The island’s growing population has led to a relatively low inventory of available homes for sale.
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hawaii big island real estate a tropical paradise for homeowners
the big island of hawaii is the largest island in the hawaiian archipelago and offers a unique blend of natural beauty and modern amenities making it an attractive destination for homebuyers from all over the world the island is home to two active volcanoes mauna loa and kilauea as well as black sand beaches lush rainforests and snow capped mountains providing endless opportunities for outdoor recreation and exploration
big island real estate market overview
the big island real estate market is characterized by a diverse range of property types from luxury oceanfront estates to affordable single family homes and condominiums the island is divided into several distinct regions each with its own unique character and charm these regions include kona on the west coast hilo on the east coast and the smaller towns of waimea and honokaa in the north
one of the most popular areas for homebuyers is the kona coast which is known for its stunning beaches and resorts the kona region is home to many high end developments such as kohala coast resort and mauna lani resort which offer luxury properties with ocean views and upscale amenities other popular areas include the hilo town area which offers a more urban lifestyle and the paniolo country of waimea which is known for its ranchlands and rural charm
types of big island real estate
the big island offers a wide range of real estate options to suit every budget and lifestyle some of the most popular types of properties include
single family homes which range from cozy bungalows to luxury estates and can be found in a variety of neighborhoods throughout the island
condominiums which offer a convenient and low maintenance lifestyle and can be found in many resort areas and towns
townhomes which provide a mix of single family home style living and condominium convenience
land and farms which offer the opportunity to build a custom home or start a rural business such as a farm or ranch
vacation rentals which provide a unique investment opportunity for homeowners who want to generate income from their property
what to consider when buying big island real estate
when buying real estate on the big island there are several factors to consider some of the most important include
location the big island is a large island and location can greatly impact the quality of life and property value some areas are more prone to natural disasters such as lava flows and tsunamis than others
climate the big island has a tropical climate but temperatures and rainfall can vary greatly depending on the region
infrastructure the big island has a well developed infrastructure with modern amenities such as shopping centers schools and hospitals however some areas may be more remote and require a longer drive to access these amenities
zoning and land use some areas of the big island are zoned for specific uses such as conservation or agriculture which can impact property value and use
natural disaster risk the big island is prone to natural disasters such as lava flows and tsunamis which can impact property value and safety
why invest in big island real estate
the big island of hawaii is a unique and special place that offers a tropical paradise lifestyle and a wide range of real estate options the island is known for its natural beauty and outdoor recreation opportunities making it an attractive destination for tourists and homebuyers alike some of the most compelling reasons to invest in big island real estate include
appreciation the big island real estate market is known for its strong appreciation rates making it a smart investment opportunity for homeowners
rental income the big island is a popular destination for tourists and vacation rentals are in high demand providing a unique investment opportunity for homeowners who want to generate income from their property
lifestyle the big island offers a unique blend of natural beauty and modern amenities making it an attractive destination for homebuyers who want to escape the hustle and bustle of city life and live a more relaxed and peaceful lifestyle
diversification the big island real estate market is distinct from other markets in the united states and provides a unique diversification opportunity for investors who want to spread their risk and maximize their returns
finding the right real estate agent
when buying or selling big island real estate it is essential to work with a qualified and experienced real estate agent who has in depth knowledge of the local market and a proven track record of success some of the most important qualities to look for in a real estate agent include
knowledge of the local market and current trends
experience with the type of property you are buying or selling
excellent communication skills and ability to negotiate
responsive and reliable service
access to a wide range of marketing tools and networks
in conclusion the big island of hawaii is a tropical paradise that offers a unique blend of natural beauty and modern amenities making it an attractive destination for homebuyers from all over the world the island is home to a diverse range of real estate options from luxury oceanfront estates to affordable single family homes and condominiums with its strong appreciation rates rental income opportunities and relaxed lifestyle the big island is a smart investment opportunity for homeowners who want to spread their wings and experience the aloha spirit of hawaii
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Frequently Asked Questions:
Hawaii Big Island Real Estate FAQ
Q What is the median home price on the Big Island of Hawaii
A The median home price on the Big Island of Hawaii varies depending on the location and type of property however as of recent data the median home price is around 625000
Q Are there any restrictions on owning property in Hawaii
A Yes there are restrictions on owning property in Hawaii specifically for nonresident aliens foreign nationals who are not US citizens are restricted from purchasing agricultural lands and may have to obtain special permits to purchase other types of property
Q What is the average cost of land per acre on the Big Island of Hawaii
A The average cost of land per acre on the Big Island of Hawaii varies depending on factors such as location zoning and topography however recent data suggests that the average cost of land per acre is around 20000 to 50000
Q Can I buy a vacation rental property on the Big Island of Hawaii
A Yes you can buy a vacation rental property on the Big Island of Hawaii however you will need to ensure that the property is zoned for shortterm rentals and obtain any necessary permits and licenses
Q How long does it take to close a real estate transaction in Hawaii
A The length of time it takes to close a real estate transaction in Hawaii varies depending on the complexity of the transaction and the speed at which the buyer and seller can resolve any issues however on average it takes around 30 to 60 days to close a transaction
Q Are there any special taxes or fees associated with buying or selling real estate in Hawaii
A Yes there are special taxes and fees associated with buying or selling real estate in Hawaii including a conveyance tax of up to 0.85 of the sale price and an excise tax of up to 0.65 of the sale price
Q Can I buy a property on the Big Island of Hawaii as a foreign buyer
A Yes you can buy a property on the Big Island of Hawaii as a foreign buyer however you will need to consider factors such as obtaining financing as a nonUS citizen navigating any applicable tax withholding requirements and ensuring compliance with any US tax laws and regulations
Q What are the different regions of the Big Island of Hawaii
A The Big Island of Hawaii is generally divided into four main regions KailuaKona the Kohala Coast South Kona and Hilo each region has its own unique character and attractions
Related Links & Information:
Hawaii Life Big Island Real Estate
Realtor.com Big Island Real Estate
Zillow Big Island Real Estate
Hawaii Island Real Estate Information
Kona Real Estate and Homes
