Even though 2023 has witnessed a slowdown in home sales, land sales are keeping up on this stunning island, attracting people from all walks of life who dream of owning a property in Hawaii. In this blog, I will explore the current state of Big Island land sales, discuss why people are flocking to this island to build their own homes and provide insights into the value of investing in Big Island land. Additionally, I will recommend some talented local architects and builders to help you bring your dream home to life.
The Big Island's Land Market in the last year:
The real estate market on the Big Island has been on fire in the last year, with land sales seeing an unprecedented boom. Just in the Kohala area, from Kawaihae to Kapaau, there have been 36 land sales, with sale prices ranging from $247,000 to $2,500,000. The pristine beaches, lush rainforests, and majestic volcanoes that adorn the Big Island attract buyers seeking to create their own piece of paradise in the middle of the Pacific.
Why build a home on the Big Island?
The reasons are numerous.
1. Unspoiled Natural Beauty: The Big Island boasts some of the most breathtaking natural landscapes in the world. From the fantastic oceanfronts of the Kohala Coast to the private retreats of South Kona, the island offers diverse settings for homeowners to build their dream residences.
2. Sustainable Living: Many individuals are drawn to the Big Island's commitment to sustainability. With a growing emphasis on eco-friendly practices and renewable energy, residents have the opportunity to embrace a greener lifestyle and reduce their carbon footprint.
3. Privacy and Tranquility: The Big Island provides ample space for homeowners to enjoy peace and solitude. With large plots of land available, residents can create their own private oasis away from the hustle and bustle of city life.
4. Diverse Activities and Amenities: The island offers many outdoor activities, including surfing, snorkeling, hiking, and golfing. Additionally, world-class resorts, gourmet restaurants, and vibrant local communities ensure residents have a rich and fulfilling lifestyle.
Additionally, investing in Big Island land offers both immediate and long-term value. Here are a few reasons why purchasing land on the island is a sound investment:
1. Limited Supply: The Big Island is the largest of the Hawaiian Islands but still has limited land available for development. As demand continues to rise, the scarcity of land will likely drive up its value over time.
2. Tourism and Vacation Rentals: The Big Island attracts millions of visitors yearly, and the demand for vacation rentals is consistently high. Owning land on the island provides an opportunity to generate rental income and capitalize on the thriving tourism industry. If you are considering investing in a vacation rental, remember that vacation rentals require an STVR (Short Term Vacation Rental) or must be rented for 180 days - more on that in the upcoming blogs. You can also visit the Hawaii County website here for more info. It is worth mentioning here that the demand for long-term rentals is very high on the Big Island due to the inventory shortage. So whether you rent your property short- or long-term, you will generate income.
3. Potential for Appreciation: Historically, land values on the Big Island have shown steady appreciation. The potential for land value appreciation is significant as the island continues to grow in popularity, and the market remains strong.
Within the last month, I sold two land parcels - one in Kohala Ranch and another in Hokulia (in Kona).
BEST LOT AVAILABLE IN THE KOHALA RANCH - SOLD!
Situated in the lower Heathers section of Kohala Ranch on the rim, with a Southern exposure over the entire coastline! All the hard work is done; no waiting, and a renowned local builder who knows the project!
Pueo Place is a small cul de sac in the Heathers section of Kohala Ranch, one of the best locations for views and close proximity to the gate! Enjoy the ultimate privacy within a gated community and stunning ocean views!
Plans are approved to build this 3/3 plus office, pool, and 2-car garage; no waiting, just pick your finishes!
Listed for $439,000 Sold for $425,000
HOKULIA PHASE I OCEANVIEW LOT - SOLD!
Hokulia is a private equity Golf Club community situated in North Kona. Membership is exclusive to property owners within the Hokulia Community. The community offers a clubhouse with open air
dining restaurant & bar, spa, tennis, fitness facility, full men's and women's locker rooms, golf pro shop, and 18-hole Jack Nicklaus signature golf course that sits along the beautiful slopes of Hualalai Mountain.
Located on the North end of Hokuli'a's 1260-acre community, Lot 56 boasts stunning, expansive coastline and city views offering an exceptional 1.752-acre home-site to build your dream estate. An equity Club membership (valued at $150,000) is included in the purchase price.
Listed for $420,000 Sold for $420,000
Building your dream home on the Big Island requires the expertise of talented architects and builders who understand the island's unique landscape and cultural aspects. Here are a few recommendations:
Dr. Cory Foulk firstname.lastname@example.org
Ihilani Phillips email@example.com
Jen Jones Architechture
Opihi.iO 3D Concrete Prinring
Dr. Cory Foulk firstname.lastname@example.org
Ihilani Phillips email@example.com
Pa'akai General Contracting
Pacific Isle Homes
The Big Island's land market attracts buyers eager to claim their own piece of paradise and build their dream homes. The island's unparalleled natural beauty, commitment to sustainability, and recreational opportunities make it an enticing destination for homeowners seeking a unique and fulfilling lifestyle. Investing in Big Island land offers immediate satisfaction and long-term value as land scarcity and the island's growing popularity drive up prices. By collaborating with skilled local architects and builders, you can transform your vision into reality and create a home that perfectly embodies the spirit of the Big Island.
As a Big Island realtor, I invite you to explore the available land options and seize this opportunity to become a part of the island's vibrant community. Whether you're looking for a serene retreat, an active lifestyle, or a sustainable haven, the Big Island has something for everyone. So, come and join us in this land of enchantment and experience the magic of owning your own piece of Hawaii.
In the next blogs, we will cover Big Island's locations and what you need to know while doing your research, how to find the right agent, what is comparative market analysis, and more.
Stay tuned for more straight talk with Jan Nores!
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