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Here's a listing for a lot in (under? over?) Vacationland listed for sale. One of the few I've seen that reflects a new price valuation for lava zone property:
I've had about seven inquiries to purchase our land. While buried under 30 feet of lava... FYI. So far I have on person offering $25,000 cash.
https://honolulu.craigslist.org/big/reo/...33565.html
"I'm at that stage in life where I stay out of discussions. Even if you say 1+1=5, you're right - have fun." - Keanu Reeves
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I'd take that 25K if I were him.
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I've seen prices for lots in Orchidland jump 10K -20K since the eruption.
One Thing I can always be sure of is that things will never go as expected.
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If you own a lot down there in Kapoho vacation-land or elsewhere that gets covered with Lava:
Do you sell for cheap and just get out? Or do you hold on to it, speculating that after this flow is over, the next flows, whenever they occur, probably won't run over the same area because of it's new height topographically and you may have pristine Hawaiian coastline property for another few hundred years?
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One thing for sure, you won't have coastline - the State now owns the new coastline... Not only do you lose value with the new lava flow coverage, you also lose value of what was formerly shoreline property...
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I thought the coastline boundary for oceanfront lots was the high water mark. Wouldn't this mean that the coastal properties would just expand to the new high water mark? After all, when the high water mark moves inland due to erosion the boundary moves with it in THAT direction.
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Short answer: No. State owns all new land. I doubt that they put up a fence so if you had ocean front property before you would still be able to walk to the ocean unobstructed (except for the 60' wall of lava).
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you would still be able to walk to the ocean unobstructed
Depending on how far the new lava extends into the water, your oceanview might not be as expansive as it was before though - - although unobstructed unless the state puts something there (unlikely).
"I'm at that stage in life where I stay out of discussions. Even if you say 1+1=5, you're right - have fun." - Keanu Reeves
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It makes sense that you wouldn't own the newly-formed land. You'd own the land you bought, no more, no less. Except, of course, that 60-feet of lava sitting on top of it.
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If you're ON the 60' of lava then that helps you keep the ocean view and you're already on top so no climbing except to get to your property. There will be a 60' drop at the ocean plus whatever convolutions there are in the lava. Could be flat as a parking lot or almost impassable.
