Have you been contemplating buying a retirement home, a second home, or even a vacation rental home here on the Big Island? Have you been waiting for the market to come back up, making it beneficial to move forward with your plans?
That wait may officially be over. The outlook on the housing market is the brightest its looked since the 2008 downturn. And with the economy recovering, job growth improving, and people having more freedom to spend money on the things they truly want (experiences and travel topping the list), this may be your perfect opportunity to make your dreams of owning in Hawaii a reality.
A few months ago, I was happy to report that the Big Island real estate statistics for June showed lots of promise and continued growth over the same time period in 2013. Those statistics have continued to improve as the year went by, especially on the west side of the Big Island in Kohola and Kona.
The median sales price of a home in North Kohala has risen 37.67 percent over the same time period in 2013, and in North Kona, the average sales price increased by 23.04 percent.
I see the impact of this every day as I drive around my home here in Kona. When properties go up for sale, they sell quickly. And prices, on average, are rising again, making now the perfect time for moving forward with an investment in real estate.
Maybe you’ve been holding off with your plans for moving to Hawaii. Maybe you’ve chosen Hawaii as the place to retire, and you would love nothing more than to buy a piece of land and build your perfect home in the perfect location.
Is that possible on the Big Island? After all, it is an island; space must be limited.
If you have the dream and want to make it happen, the Big Island has the opportunity for you.
While the actual number of sales of land have remained steady over the past year, the average sales price of land, especially in the highly demanded areas of Kona and Kohala, have steadily been rising.
Buyers may know what I know: that nothing compares to the beaches along the western coast of the Big Island. Nothing will be as enjoyable as building a dream home with easy access to some of the best beaches in the world.
With this much growth happening in 2014, you may be thinking that you’ve missed your window of opportunity. Real estate prices have hit the bottom, and are on the rise once again. Can you really find the deal you’ve been holding out for?
The answer is still overwhelmingly “YES”!
Hawaii is a small series of islands. If you narrow it down to the Big Island, only a certain amount of properties sell each year. And if you continue to focus in on communities – Kona and Kohala – you’ll find the opportunity for buying decreases to just a few hundred sales per year. That isn’t going to change because we will never have that much room for growth.
In other words, we have a captive audience looking to buy and sell each year.
If you’re ready to make the move, and the Big Island has your attention, there is no better time than today to start your search for the perfect place to live in one of the most beautiful locations on earth.
I welcome the opportunity to show you all Hawaii has to offer you.