If you have dreamed of living on the big island of Hawaii, oceanfront, plantation and mountain homes are available at terrific prices, say local Realtors.

Particularly desirable are properties along the Hamakua Coast.

"Beautiful, towering cliffs form spectacular basis for waterfalls thundering into the ocean," says Realtor Doris L. Smith.

"As far as oceanfront homes from Hilo and along the Hamakua Coast go, there are many listed oceanfront parcels on the market with a listing price from $189,000 to $8,000,000," says Smith. "So far in 2002 sales have been slow. Only one oceanfront parcel for $160,000 has sold so far this year. These parcels range from one acre to many acres. Utilities, piped water, electricity, telephone, and paved roads vary from parcel to parcel.

"There are only 8 oceanfront homes currently on the market, ranging in price from $499,000 to $1,395,000," she adds. "So far in 2002 there have not been any oceanfront sales."

Says Realtor Robert Cheesbrough, "This is one of the loveliest coastal areas on the island. There are some tremendous values currently in vacant land, and land with existing mature agricultural crops, such as macadamia nut trees. There has been an increase in the inventory of these lands as of late.

Prices have dropped temptingly low. "Statistically, the median sales price for residential has dropped to $130,000, down 7.14%," explains Cheesbrough. "For land, the median price is $449,000, which is stagnant statistically as there have been no 2002 sales as of yet."

In Hilo, a tropical, small town with a rural character, sales have increased during the last quarter," says Smith. "There is still about a nine month supply of homes available for sale. The median price of Hilo homes continues to be $140,000.

Great Buys

"There are some stunning Waipio Valley view properties, as well as some large oceanfront parcels still very well priced," says Cheesbrough. "Higher elevation parcels (800 to 1600') are plentiful, and also well priced."

Says Smith, "There still is a good supply of inventory in the three areas of Volcano Village, Volcano Golf Course and Mauna Loa Estates. All three areas have about a year's supply of homes based on the rate of consumption for 2001. Last year, these three areas had sales from $64,900 to $299,000. The current listings are from $69,000 to $585,000."

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Published: April 22, 2002

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