Big Island Hawaii Real Estate | 2854 Listings (2024)

Real Estate

If you're interested in becoming a homeowner or landowner on the Big Island of Hawaii, it's vital to work with an agent who knows the area. You'll find listings ranging from $20k to $20M. Because Hawaii Island has an active volcano, it provides a level of complexity when purchasing a home. Similarly to the Island having 9 districts, there are also 9 different lava zones, but there's no relation with their boundaries. Moreover, if you're considering a short-term rental investment, understanding the resort-zoned areas is essential. It might seem like a lot, but rest assured, The Big Island offers a fantastic living environment.

On the numbers side, here's what an investment back in 2013 looked like. The single-family homes had a median price of $289,950, but now the single-family median price stands at $499,000. As for condos, they were priced at $259,000 in 2013, and currently, the condo median price is $539,000, according to HIS data.

Neighborhoods

Neighborhoods on the Big Island are divided up into 9 main districts. Those include Hamakua Coast, North Hilo, South Hilo, Puna, North Kohala, South Kohala, North Kona, South Kona, and Kau. Our listings for sale are categorized by demand, so we combined North and South Kona in one category. The same goes for Kohala and Hilo.

Hilo

On the eastern side of the Big Island, you’ll be in the Hilo area. Here, you’ll find an abundance of beautiful waterfalls and rainforest.

The historic town of Hilo offers views of Mauna Kea and Mauna Loa from afar. This hip town provides a variety of shopping, restaurants and fun in the sun with many beaches in the area. The area of Hilo is a wonderful place to find everything you need. Whether it’s shopping for household goods, visiting a variety of restaurants, or catching a movie, Hilo town has it all.

Hamakua Coast

On this side of the island you’ll discover towns such as Paauilo, Honokaa, Kukuihaele, Laupahoehoe, Ninole, Waipio and Ahuloa. You’ll find yourself surrounded by lush green rainforests with a few shops and restaurants in the area.

Kau

As the Big Island’s southernmost region, you’ll find small towns such as Maalehu and Pahala. This quiet town is a lot slower than other parts of the island, but it also offers a more peaceful community to live in.

Kona

On the western side of the Big Island, you’ll be in the Kona region. Here you’ll be surrounded by coffee farms and a lot of historical landmarks that have been well preserved. Although this area is considered the hotter part of the island, there is a lot of activity you can enjoy. Those include shopping, visiting restaurants and bars, snorkeling as well as visiting a coffee farm.

South Kohala

The neighborhood of Kohala is located on the northwestern side of the island. Here, you’ll find a lot of the hotels and resorts. This area is booming with tourism. If you plan on finding a job in the hospitality industry, living in this area could be convenient.

Some of the neighborhoods you’ll find here include Waikoloa Village, Hualalai, Puako, as well as Mauna Lani.

North Kohala

On the northernmost part of the Big Island, you’ll find yourself in North Kohala. Here, you’ll be living in an area with 2 main towns, Kapau and Hawi. With about 2,000 residents in this area, North Kohala is one of the smaller areas on the island.

You can discover the world-famous Ironman Triathlon happening every year. In addition to that, there are a variety of art galleries, shops and popular restaurants in the area.

Puna

Another area you’ll find on the eastern side of the Big Island is Puna. This unique side of the island offers black sand beaches, views of Kilauea volcano and a variety of small and charming towns. Some neighborhoods you’ll find on the Puna side of the island include Hawaiian Acres, Hawaiian Paradise Park, Keaau, Kurtistown and the town of Volcano.

In Puna, you’ll discover many small shops, farmers markets, as well as a variety of farms which includes papaya. Like a lot of the towns on the Big Island, there isn’t much commercial development happening. It’s primarily local businesses in the area.

Activities & Attractions

One of the exciting things about living on the Big Island is that your playground expands from the beach to basically one of the highest points in the world. Here, you can save some money on fresh produce by checking out the farmer’s markets held weekly. You could even travel from town to town to check out local boutiques and art galleries. The Big Island offers a wide range of outdoor activities which are great to checkout throughout the year.

When it comes to events on the island, there is one which you can’t experience anywhere else on the planet. That event is the Merrie Monarch Hula Festival, also known as the “Olympics” of hula.

Other events that occur on the island include county fairs, the KWXX Ho’olaulea (a music festival showcasing many local musicians) and the Ironman Triathlon.

Weather

When living on the Big Island, you’ll find that the environment is slightly different everywhere you go. As you go higher in elevation, expect cooler temperatures. As for the leeward side, do expect drier weather and as for the windward side, a lot of wet weather.

Just like the island of Maui, there are parts of the Big Island (Kona side for example) that can be extremely hot. This causes occasional wildfires in the area.

With the Big Island and its active volcanoes, vog can be an issue for many Big Island residents and those across the state. Vog is usually caused by volcanic emissions which contain sulfur dioxide and other volcanic gases.

If you plan on living in the highlands or on the east side of the Big Island, you might want to consider getting yourself some extra umbrellas. These areas tend to rain a lot.

Although it hasn’t occurred for decades now, the Big Island is still an area that can severely be affected by tropical storms, hurricanes and even tsunamis. Many locals are always taking precaution in case of any natural disaster.

Commuting

Expect to do a lot of driving. Commuting on the Big Island is best with a car or truck. This will allow you to explore majority of the island. As for traffic on the island, you could experience some traffic on one of many two-way traffic roads most commonly in the morning and “pauhana” time which around 4pm-7pm. One unique thing about the Big Island is that if the main road to a certain location is running slow, you could make a detour and take the “backroads” instead. There aren't many options though when traveling between Kona and Hilo. For those who want to save money on gas, there is a bus system called the “Hele-on” that runs throughout the entire island.

Big Island Hawaii Real Estate | 2854 Listings (2024)

FAQs

Are Hawaii home prices dropping? ›

Hawaii State median sale price movement is up in June 2024, with the home price up 12% to $1,023,000 and the condo price up 5% to $585,000 from last year.

Is it smart to buy a house in Hawaii right now? ›

The current real estate market conditions in Hawaii are becoming favorable for home buyers. Here's how: Lower Mortgage Rates: The interest rates for home loans have decreased to 7.02%, marking a decline from approximately 8% in the preceding year of 2023.

Is Hawaii real estate overvalued? ›

Hawaii's Maui County, San Diego and San Francisco Ranked as Most Overvalued Housing Markets to Buy a Home. You'll pay more to buy a median-priced home versus renting in several California MSAs as well as in Hawaii, Washington, Colorado and Utah.”

What is the median home price on the Big Island of Hawaii? ›

MEDIAN DAYS ON MARKET MIXED FROM JUNE 2023
SINGLE FAMILY HOMESThis MONTH JUNE 2024Last MONTH MAY 2024
Median Sale Price$642,000$540,000
Average Sale Price$849,254$1,064,235
Homes Sold157183
Median Days on Market3537
1 more row

Where is the most affordable place to live in Hawaii? ›

Most Affordable Places to Live in Hawaii in 2024
  • Hana, Maui.
  • Hilo, Island of Hawaii.
  • Kahuku, Oahu.
  • Kahului, Maui.
  • Kapa'a, Kauai.
  • Waianae, Oahu.
  • Wailuku, Maui.
  • Waimalu, Oahu.
Jun 18, 2024

What is a decent salary in Hawaii? ›

Average Salary in Hawaii
Annual SalaryMonthly Pay
Top Earners$83,737$6,978
75th Percentile$66,817$5,568
Average$52,747$4,395
25th Percentile$38,677$3,223

What is the real estate outlook for Hawaii in 2024? ›

Hawaii Real Estate Market Statistics

Average Home Prices: The average median home price in Hawaii is $735,900, up by 8.2% YoY. In 2024, the median sale price will keep increasing marginally due to HI's tight inventory. Home Sales: As per January 2024 data, home sales increased by 12.2% YoY!

What would be the only downside to living in Hawaii? ›

Con: Living in Hawaii is expensive

In particular, housing can be prohibitively expensive, with a median home sale price of $754,700. Additionally, goods that need to be imported, such as gas and other everyday necessities, can also be pricey.

What is the downside to living in Hawaii? ›

Cost of Living

The most obvious drawback to living in Hawaii is our cost of living. Because everything needs to be imported, the cost of goods is significantly higher than any mainland market. This cost of living is magnified by high housing costs.

Where is the slowest real estate market? ›

Austin, Texas is the slowest-selling U.S. metro area

Austin, Texas ranked as the slowest-selling metro, according to a recent Creditnews Research study. The average home price in Austin has steadily increased since 1998, according to a 2023 SmartAsset study. Home values have soared 354% over the past 25 years.

What is the problem with housing in Hawaii? ›

Hawaiʻi has the most expensive housing prices in the United States because we have failed to sufficiently build homes for our residents. Our current housing shortage has led to a crisis of increasing homelessness and migration to the mainland which threatens our 'ohanas and way of life across Hawaiʻi.

What state has the most overpriced housing market? ›

California is home to some of the most overpriced housing markets in the nation, a new housing study reveals. A total of 11 California cities landed on a list of the top 100 housing markets in the United States created by Florida Atlantic University.

How much money do you need to live on the Big Island? ›

Typical Expenses
1 ADULT2 ADULTS (1 WORKING)
0 Children2 Children
Required annual income after taxes$46,662$90,755
Annual taxes$10,034$15,190
Required annual income before taxes$56,695$105,944
8 more rows

How much are property taxes on the Big Island of Hawaii? ›

2020 to 2021 Real Property Tax Rates
Residential A (less than $1M value)$4.50$4.50
Residential A (more than $1M value)$10.50$10.50
Agricultural$6.75$6.75
Commercial$8.10$8.10
Commercial Residential$5.05$5.05
51 more rows

How much does it cost to build a house on the Big Island of Hawaii? ›

“The cost of building a new home in Hawaii can be substantial, with estimates ranging on average from $185 to over $400 per square foot,” said Mueller.

Is buying property in Hawaii worth it? ›

Real estate in Hawaii serves as a reliable hedge against inflation. As the cost of living rises, property values tend to increase as well, preserving the value of your investment over the long term.

What is the housing situation in Hawaii? ›

The state's housing market, with median home values exceeding $750,000, places a tremendous burden on local families, making homeownership an elusive dream for many. The rental market is no less daunting, with the cost of a two-bedroom home nearing $2,000 a month.

What is the housing market forecast for Hawaii in 2025? ›

If population growth follows historical trend, the projected housing demand for the 2025-2035 period is 4,112 units per year. The average of the two scenarios is 3,297 housing units per year.

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