Kathy,
I agree with you about actually seeing the destruction and a'a. Just a short trip to the old Japanese cemetery down the road from Kapoho. More than half of it was completely covered by lava and take the dirt road to the lava road to Champagne Ponds and you really see the impact of molten lava on the land. But does that mean that it will happen again in our lifetime? Who knows? But will it impact the resale value? Most definitely, many of the houses we looked at early on in lower Puna are still for sale more than a year later. Another factor with LZ1 is the insurance, if you can get it.
Kathy, we did look at 5 waterfront homes in Kapoho. All were on 1/4 acre or less. Two were well over $1 mil. None were as nice as the house we ended up with, so it is really hard to compare apples to oranges. All of them were about $400,000. to $600,000 less than the house we bought, but as I said, none are nearly as nice either. Only one was directly on the ocean, the rest were set back but in the first tier or on lagoons connected to the inlet. Another thing about that area, it is also quite remote and far from anything, including emergency services. Our ATT cell phones did not work there either.
Having said that, there are four houses on our street that are for sale. Two have been on the market since before we bought this one. All but one is for sale because the owner died. Three of these are complete rehabs and none have a full acre as we do. Two are on quite small lots. Our house was completely renovated by the architect and his partner who lived here for 4 years. Of those four houses, the three that are estate sales are directly on the waterfront with incredible views and while they are listed from $425-775. I happen to know that any of them could be bought for much lower prices, as the families just want to split their inheritance and they are ready to sell them. So, on one street there are houses just under $2 mil and houses worth a quarter of that and a spattering in between. The lower end ones need at least $200,000 - $300,000 worth of work to upgrade to the rest of the neighborhood. It is a perfect time to buy here, that is for sure.
We found a few Hamakua Coast properties that we really liked too, and they were also on the cliffs. However, we decided they were too far from town. Wes teaches at the University and we like to do a lot of things at the Cultural Center etc. We decided on this house, mostly because Wes loved it so much and also because we are 2 minutes from downtown and yet are in a fairly secluded area. When Wes went into real estate, we were doubly happy with our location, as it is close to his office and equidistant to both ends of the East Coast for showing property.
I feel for you losing a home to fire, I cannot imagine that, and the fear you must have felt when it nearly happened again. With the next Tsunami, we will have warning, so even if you are downtown, you will be able to head for the hills. I signed up with NOAA for notification of every Pacific Earthquake over 4.0 and they relay if a Tsunami could be expected at a "watch" or "warning" level. Interestingly, there have been quite a few earthquakes in Alaska in the last few days, and a 6.1 this morning. Lots of action, at the same time that Pele is also giving us lots of fire! We could surely see another earthquake soon too. Like you, born and raised in CA I am used to them and feel safe in my house, but it could cause havoc to our communications and bridges.
Aloha au i Hawai`i,
devany
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