Big Island

The big island of Hawaii is most famously known for its active volcanoes in Hawaii Volcanoes National Park. Kilauea is 4,000 feet high and has been erupting in various forms actively since 1983. Mauna Loa is quite a bit taller, at 14,000 feet, and is the largest volcano on earth. No visit to the Big Island is complete without visiting these amazing volcanoes. There are plenty of other fun things to do and see on the Big Island as well:  you can hike through Akaka Falls State Park to see spectacular waterfalls, shop at Hilo Farmer’s Market, and have fun in the surf and sun at any one of several beaches. Best of all, the Big Island is the lowest cost of the Hawaiian islands to live on with the median price of a home on the Big Island being a mere $295,000 in September of 2013 as reported by the Hawaii Association of Realtors.

The housing market on the Big Island of Hawaii is rapidly recovering and should remain that way well into 2014. There were 180 single-family home sales in September of 2013 with a median sales price of $281,750. This price represents a 14% increase over the same time last year and a 76% increase in the number of sales over last year. In addition, there were 43 condos sold on the Big Island in September of 2013 with a median sales price of $315,000. This price represents a 17% increase over the same time last year. It is interesting to note that condos sell for more than single-family homes on the Big Island.

It does take some time to sell a home on the Big Island as the median time to sell a single-family home was 137 days in September of 2013 and 140 days for a condo. There is not a great deal of construction going on currently on the Big Island and home inventory is down 22% from the 2012 level. These two items together indicate that the average home price is most likely going to go up in the coming months and years.

The Big Island of Hawaii is a great place to buy a starter home or an investment property if you are just getting started in Hawaiian real estate due to its relatively low cost homes compared to the rest of the islands. Additionally, now is a great time to buy to take advantage of the current low interest rates available.

Latest Big Island properties December 201