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Hilo Real Estate is probably the most sought-after real estate on the Big Island due to two reasons. Firstly, many feel that Hilo is the heart of the Big Island.
As the second largest city in all of Hawaii and the largest city on the Big Island, Hilo is the preferred headquarters for many companies. It is also home to county, state, and federal offices, including a US Courthouse, an international airport and a deep-water harbor.
Hilo offers a variety of shopping places, entertainment and good medical facilities. Many residents from the surrounding underdeveloped areas still do most of their shopping there. The reputable University of Hawaii is also located in Hilo and it’s sports programs are well known amongst students around the country.
Since tourism on the rest of the Big Island is the bigger source of revenue this has increased interest in Hilo Real Estate, especially amongst mainland visitors and Oahu residents looking to relocate to a quieter Hawaii. This in turn has brought about a marked increase in housing prices in the city.
Unfortunately, the housing prices in Hilo increased to the point where large portions of the local population (therefore the people who are working in the Hilo area) are not able to afford to live in Hilo. This is especially true for young families although not limited to them alone.
A realtor once told me that higher prices in Hilo have pushed a lot of people progressively further away from the city. Puna was the answer to high Hilo Real Estate prices. Subdivisions like Hawaiian Paradise Park, Orchidland Estates and Ainaloa have boomed due to their affordability and close proximity to Hilo. Even subdivisions like Nanawale Estates, Eden Roc Estates and Fern Forest Estates, which would have never been considered by many before because of their distance, have see major development and new homes popping up at a rapid pace. People prefer a longer commute to what they consider unreasonable Hilo housing prices.
Puna Real estate and Hilo real estate are in many ways intimately connected due to their interdependence. In time, this will cause Puna housing prices to increase to levels more similar to those in Hilo.
Go from Hilo Real Estate, to Puna Real Estate
