What to Expect from Big Island Real Estate in the Coming Years
the big island real estate
Pāhoa, HI
Quick Facts
• The Big Island is the largest island in Hawaii, covering over 4,000 square miles with diverse real estate markets.
• Median home prices on the Big Island range from $400,000 to $700,000 depending on location and amenities.
• Hilo is the island’s biggest city and often has lower home prices compared to the tourist-driven Kailua-Kona area.
• Luxury real estate on the Big Island can exceed $10 million, typically found along coastlines and in prime resort areas.
• The island is divided into nine districts, each with unique real estate features, such as North Kona’s coastal properties.
• Some popular high-end neighborhoods include Mauna Lani, Waikoloa, and Kukio on the west coast.
• Land ownership on the Big Island can vary, with options for fee-simple, leasehold, or land sales.
• Rentals are relatively scarce on the Big Island, making long-term investment properties popular among owners.
• Approximately 30% of real estate in the area is vacation rentals, typically around Kailua-Kona and Hilo.
• As with other Hawaiian islands, buying real estate on the Big Island often comes with strict environmental regulations and zoning laws.
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the big island real estate market an in depth analysis
located in the state of hawaii the big island is the largest island in the hawaiian archipelago and offers a unique real estate market that is distinct from other islands in hawaii the big island real estate market is shaped by its stunning natural beauty diverse landscapes and rich cultural heritage in this article we will delve into the big island real estate market and explore its current trends challenges and opportunities
overview of the big island real estate market
the big island real estate market has grown significantly over the years with a steady increase in property prices and sales the island is divided into several distinct regions including kona hilo waimea and the north kohala coast each region has its own unique character and offers a range of properties from luxury estates to affordable single family homes and condominiums
currently the median home price on the big island is around 650000 with prices ranging from around 300000 for a modest single family home in hilo to over 10 million for a luxury estate in kona the big island real estate market is driven by a mix of local demand and investment from mainland buyers who are drawn to the islands natural beauty and rich culture
challenges facing the big island real estate market
despite its many attractions the big island real estate market faces several challenges one of the biggest challenges is the islands remote location which can make it difficult for buyers to access financing and for sellers to find qualified buyers the big island is also vulnerable to natural disasters such as hurricanes and volcanic eruptions which can impact property values and the overall real estate market
another challenge facing the big island real estate market is the lack of affordable housing the island has seen a significant shortage of affordable housing options in recent years which has made it difficult for local residents to purchase homes the state of hawaii has implemented various initiatives to address the shortage but the issue remains a major challenge for the big island real estate market
opportunities in the big island real estate market
despite the challenges the big island real estate market offers several opportunities for buyers and investors one of the main opportunities is the islands growing tourism industry which has led to an increase in demand for vacation rentals and short term rentals in recent years the big island has also seen a surge in demand for luxury properties with many high end buyers drawn to the islands natural beauty and world class amenities
another opportunity in the big island real estate market is the islands growing agriculture industry the big island is home to a number of small scale farmers and ranchers who are looking to purchase or lease land to start or expand their operations the big island is also seeing a growth in sustainable tourism which is driving demand for eco friendly properties and vacation rentals
regions to watch in the big island real estate market
there are several regions on the big island that are worth watching in the current real estate market these include
kona the kona region is one of the most popular areas on the big island and is known for its stunning natural beauty and world class amenities the kona real estate market is driven by demand from luxury buyers who are drawn to the islands best beaches resorts and restaurants
hilo the hilo region is the largest city on the big island and is home to a diverse range of properties from affordable single family homes to luxury estates the hilo real estate market is driven by demand from local residents who are looking for affordable housing options
waimea the waimea region is a rural area located on the western side of the big island and is known for its stunning natural beauty and outdoor recreational opportunities the waimea real estate market is driven by demand from buyers who are looking for a rural lifestyle and wide open spaces
north kohala coast the north kohala coast is a remote region located on the northernmost tip of the big island and is known for its stunning natural beauty and luxury resorts the north kohala coast real estate market is driven by demand from luxury buyers who are drawn to the islands best beaches and world class amenities
tips for buying real estate on the big island
if you are considering buying real estate on the big island there are several things to keep in mind these include
research the local market thoroughly and understand the different regions and neighborhoods on the big island
work with a reputable real estate agent who has knowledge of the local market
consider the islands natural beauty and outdoor recreational opportunities when choosing a location
look for properties that are located in areas with good access to amenities such as schools shopping centers and hospitals
be prepared to act quickly when you find the right property as the big island real estate market can be competitive
in conclusion the big island real estate market is a unique and dynamic market that offers a range of opportunities for buyers and investors despite its challenges the big island real estate market remains one of the most desirable markets in hawaii with its stunning natural beauty diverse landscapes and rich cultural heritage whether you are looking to buy a luxury estate or an affordable single family home the big island real estate market has something to offer
Photos of the big island real estate
Frequently Asked Questions:
Big Island Real Estate FAQ
Q What is the current state of the Big Island real estate market
A The Big Island real estate market continues to be a popular destination for buyers and investors The market has experienced steady growth in recent years with a mix of residential and commercial properties available
Q What are the most popular areas to buy real estate on the Big Island
A The most popular areas to buy real estate on the Big Island include Kailua-Kona Hilo Waikoloa Volcano and Captain Cook These areas offer a range of properties from luxury homes to more affordable starter homes and condos
Q What are the typical price ranges for homes on the Big Island
A The typical price range for homes on the Big Island varies depending on location and amenities Starter homes can range from 400000 to 700000 while luxury homes can range from 1 million to 5 million and higher
Q Are there any financing options available for buying real estate on the Big Island
A Yes there are several financing options available for buying real estate on the Big Island including mortgage loans through local banks and credit unions as well as government-backed loans through FHA and VA
Q What are the typical fees associated with buying real estate on the Big Island
A The typical fees associated with buying real estate on the Big Island include a real estate commission ranging from 4-6 of the sale price and closing costs ranging from 1-3 of the sale price
Q Can non-US citizens buy real estate on the Big Island
A Yes non-US citizens can buy real estate on the Big Island However they may be subject to additional requirements and regulations depending on their country of origin
Q How do I find a reputable real estate agent on the Big Island
A To find a reputable real estate agent on the Big Island research local agents and read online reviews Check for membership in professional organizations such as the Hawaii Association of Realtors and ask for referrals from friends or family members
Related Links & Information:
Hawaii Big Island Realty
Kona Real Estate
Hawaii Life Big Island Real Estate
Corcoran Big Island Real Estate
Zillow Big Island Real Estate
