Hawaii: a name that is world famous for warm sunshine and tropical tradewinds. It’s also the name of the largest island in the Hawaiian chain. To make matters even simpler, Hawaii is the name of a county, which encompasses the entire Big Island.
The county of Hawaii is further divided into nine districts and Puna is one of the largest. It is said that the island of Kauai would almost fit into the Puna district.
If you look at a map of the Big Island you’ll see a point that juts out from the east side of the island, south of Hilo and north of Ka’u. This is the Puna district.
Puna real estate is varied, due to the presence of an active volcano within its borders. Kilauea has created an area full of slopes and valleys composed of volcanic rock and little soil. Despite this, Puna is the fastest growing district on the Big Island and contains 45 percent of the island’s subdivided lots.
While these lots are attractively priced for the buyer that wants to build a home, keep in mind that Kilauea is active and destruction of the homes in the area is a real possibility. None of the area’s subdivisions have sewer systems and most residents use water tanks to catch rainfall or have water delivered. For the resident that wants true off-the-grid living, Puna is ideal.
If you are looking for a lower cost of living than you’d find in Kailua-Kona or Waikoloa, Puna may just be your new home. Vacant lots are affordable but prices are expected to rise as the area gains more popularity. There is a shortage of inexpensive rental housing here so investors may find the area a particularly good buy.
The median cost of Puna real estate over the past few months is $131,950 -- down from 2010’s median of $169,900. Only Ka’u has a lower median value than Puna.
Puna does offer luxury villas and estates. Current listings include an oceanfront villa listed at $1,980,000. On the lower end of the price scale sits a 2-bedroom cabin, listed at $59,500.
Life in Puna offers seclusion and plenty of opportunities to commune with nature, much as the original Polynesians did thousands of years ago. When you purchase real estate in Puna you are assured of having rain forests, volcanic action, pounding surf and lava tubes as neighbors.