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March 1, 2012

Real estate on the Hamakua Coast

The Big Island offers a wide variety of weather, depending upon where you live. The Hilo side of the island is wet, wet, wet, while the Kona side is dry as a bone most of the time. In Waimea you’ll find windy, sometimes misty and foggy weather. The Hamakua Coast, just north of Hilo on the eastern side of the Big Island, offers a mixture of all of these.

Real estate on the Hamakua Coast is just as varied as its weather and topography. 2011 saw the median home price drop from $370,000 to $232,950. This makes now an incredible buying opportunity. Prices in other locations on the Big Island have started to increase; so getting in now means you’ll time your purchase at the market’s bottom.

If you’re selling your moderately priced Hamakua Coast home, you’ll be happy to know that they are selling within 30 to 40 days. Higher priced homes, acreage and “special needs” homes are sitting on the market substantially longer, so you’ll require patience if you need to sell in those categories. 

The price of currently listed Hamakua Coast homes runs from $79,900 for a 3-bedroom, 1-bath home with ocean views to $4,850,000 for two homes on acreage with a total of 9 bedrooms and 6 bathrooms. 

Popular communities along the Hamakua Coast include Honokaa where you can find a 3 bedroom, 1 bathroom home for $179,900. In the mid-price range, you can find a 3-bedroom home on a half-acre of land for $320,000. Luxury homes in the area include a stunning 6,560 square foot estate on 16 oceanfront acres for $3 million.

Laupahoehoe is another popular Hamakua Coast community where, if you are planning on building your dream home, you can purchase almost one acre of ocean-view land for $125,000. Most of the existing homes in Laupahoehoe are older and quite small. Any home over 1,000 square feet will most likely run you into the mid to upper $300,000 range.

The Hamakua Coast is just a smidge under 50 miles long, stretching between Hilo and Waipio Valley. Mauna Kea, the tallest mountain in the world from sea level, is located within the Hamakua District.

With some areas of the Hamakua Coast receiving up to 84 inches of rainfall per year you might expect rainforests and lush, tropical valleys in abundance. You would be correct, and the Waipio Valley is a perfect example. With amazing views from the lookout, to the black-sand beaches at the bottom, Waipio Valley is one of the most beautiful spots on earth.

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