Big Island Of - Hawaii Real Estate - 381 Homes For Sale | Zillow (2024)

FAQs

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.

If you want lush landscapes and a laid-back old Hawaii lifestyle, Kauai may be right for you. If amenities, urban life, and spectacular surf are your preferences, you may like Oahu. If you like rural living but also might enjoy some amenities and tourists along with beautiful landscapes, Maui may be your place.

Do you own the land when you buy a house in Hawaii? In most cases, a single-family homeowner in Hawaii owns the land the home sits on. However, always check the listing to be sure, because if a property is listed as a “leasehold,” the owner will not own the land.

However, there are also potential drawbacks to living in Hawaii, including the high cost of living, limited job opportunities, and the risk of natural disasters. The state's isolation from the rest of the nation and traffic congestion in larger cities can also be challenges for residents.

The west side of the Big Island is hands down, the best. Here you will find dry sunny days, balmy tropical evenings, beautiful beaches, world-class snorkeling, a developed coastline, quaint shopping areas and more. Popular areas of the west side are the Kohala Coast region, Waikaloa and Kailua-Kona.

Overview of Hawaii Taxes

The state of Hawaii has the lowest property tax rate in the nation at 0.27%. Despite this, the median annual tax payment in the state is $1,971, which is much higher. This is because Hawaii has the highest median home value in the U.S. at $772,500.

If you're just looking at the sheer number of incidents on each island, Kauai is the safest island to live on.

What's the cheapest island to live in Hawaii? ›

Kauaʻi is the best island in terms of scenic hiking trails, the best overnight backpacking trips, scenic drives, and the best açaí bowl that you will find across all the islands! That being said, if you're a hiker, plan your trip to Kauaʻi.

The required credit scores for mortgages in Hawaii differ based on the type of loan. Conventional loans demand a score of 620, while government-backed loans are more lenient. However, a score below 500 makes mortgage approval difficult.

But despite the big names and showy personalities of Hawaii's ultrarich, Pierre Omidyar, the media-shy founder of eBay, is the island state's richest permanent resident, according to Forbes' list of the richest billionaire in every state for 2024.

Investing in Hawaii real estate isn't just financially rewarding—it's also incredibly appealing for several reasons. The unique allure of Hawaii extends beyond its stunning natural beauty and vibrant culture; it encompasses the numerous benefits of owning property in the Aloha State.

Oahu median sale price movement is down in May 2024, with the home price down -2% to $1,082,000 and the condo price down -2% to $491,000 from last year.

Perhaps you have already paid off your mortgage. Real estate investments and rental income can provide a steady, secure source of income, that helps over the years and during retirement. If you plan properly and buy right, an investment in Hawai'i real estate is typically a safe and rewarding investment.

It's hard to go wrong in a tropical paradise. Honolulu is Hawaii's capital city on the island of Oahu. It offers incredible weather, stunning natural scenery, a thriving job market, great shopping, a dynamic dining and nightlife scene and some of the best outdoor recreation around.

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.