05-31-2018, 04:02 PM
Not a real estate expert, but speculate radically plummeting property values in zones 1 and 2 (in East Hawaii). A big Q is what will happen in zone 3, places like Hilo and the upper Puna subdivisions.
https://volcanoes.usgs.gov/observatories..._lava.html
A pessimistic view is that all or parts of zone 3 (in East Hawaii) will be adversely affected as people recall the 1984 lava flow that threatened Hilo (it came within 4 miles of upper Hilo [story below]) and consider a Mauna Loa eruption more likely.
That might be offset by significant rent increases in properties throughout zone 3 because of the evacuations. This could act as a positive force on the value of zone 3 properties.
It can be expected that when the eruption ends and HVNP re-opens, tourism to the park will rapidly rebound; the eruption is giving HVNP further nationwide fame.
But if all or most of Puna's major ocean attractions are permanently lost (covered by lava)--Kapoho tidepools, Pohoiki, Ahalanui--that will not bode well for East Hawaii tourism. (Kalapana Beach is probably not at threat from the current eruption.)
- - - -
"Recalling 1984, when lava nearly reached Hilo"
Article excerpt:
"The last time Mauna Loa erupted was March 25, 1984.
The 22-day eruption of the world’s largest volcano sent lava from the mountain’s northeast rift zone toward Hilo and Kulani Correctional Facility, then known as Kulani Prison.
Frank Trusdell, a Hawaiian Volcano Observatory geologist considered an expert on Mauna Loa, was a graduate student on Oahu at that time and had worked summers at HVO. He came to the Big Island two days into the eruption at the behest of then-HVO chief Reggie Okamura.
“The flow came within four miles of the so-called city limits of Hilo,” Trusdell said Thursday. “At that time, most of the people that lived in Hilo and on the east side of the volcano, all they had to do was look up at Mauna Loa, and they could see the entire stream from the source to the distal end of the flows. At that time, it sort of seemed to be hovering above the community. Everyone seemed to be concerned, and rightly so.”
http://www.hawaiitribune-herald.com/2015...ched-hilo/
https://volcanoes.usgs.gov/observatories..._lava.html
A pessimistic view is that all or parts of zone 3 (in East Hawaii) will be adversely affected as people recall the 1984 lava flow that threatened Hilo (it came within 4 miles of upper Hilo [story below]) and consider a Mauna Loa eruption more likely.
That might be offset by significant rent increases in properties throughout zone 3 because of the evacuations. This could act as a positive force on the value of zone 3 properties.
It can be expected that when the eruption ends and HVNP re-opens, tourism to the park will rapidly rebound; the eruption is giving HVNP further nationwide fame.
But if all or most of Puna's major ocean attractions are permanently lost (covered by lava)--Kapoho tidepools, Pohoiki, Ahalanui--that will not bode well for East Hawaii tourism. (Kalapana Beach is probably not at threat from the current eruption.)
- - - -
"Recalling 1984, when lava nearly reached Hilo"
Article excerpt:
"The last time Mauna Loa erupted was March 25, 1984.
The 22-day eruption of the world’s largest volcano sent lava from the mountain’s northeast rift zone toward Hilo and Kulani Correctional Facility, then known as Kulani Prison.
Frank Trusdell, a Hawaiian Volcano Observatory geologist considered an expert on Mauna Loa, was a graduate student on Oahu at that time and had worked summers at HVO. He came to the Big Island two days into the eruption at the behest of then-HVO chief Reggie Okamura.
“The flow came within four miles of the so-called city limits of Hilo,” Trusdell said Thursday. “At that time, most of the people that lived in Hilo and on the east side of the volcano, all they had to do was look up at Mauna Loa, and they could see the entire stream from the source to the distal end of the flows. At that time, it sort of seemed to be hovering above the community. Everyone seemed to be concerned, and rightly so.”
http://www.hawaiitribune-herald.com/2015...ched-hilo/