Interesting Home Prices

[punagirl]

So I am cleaning out a bunch of junk and found a sales flyer from Savio Realty (long defunct) advertising land & homes in Puna/Hilo/Hamakua. The house page has actual TMK numbers. I will try to post it later this week. For now, here are the land prices. They are generalized by neighborhood and there is a brief description of each 'hood which I am not going to copy but might give a blurb from. These were based on prior 6 months sales. Prior 6 months data used from Nov '99- April '00

Ainaloa: $3000-12,000

Aloha Estates: No activity.

Black Sands Beach: $1,800 - $5,000

Eden Roc: $3000 -$6500

Fern Acres: $4,500 - $14,500

Fern Forest: $4000 - 9000

Glenwood Gardens: no activity in past 12 months

Hawaii Orchid Isle Estates: $20,000 - $30,000 (Where is this?)

Hawaiian Acres: $6000 - $29,000

Hawaiian Beaches, Parks & Shores: $13,200 is average and lots from $2,500-43,000

Hawaiian Paradise Park: Avg price $14,500 $7500 - 75000

HIPA: No sales activity in past 6 months

Kalapana Seaview Estates: $3000-4000 ( I could have bought half the damn neighborhood. What was I thinking???? Oh yeah, most of the neighbors lived in buses. Incidentally, I paid $12,500 for my lot a few lots back from the front in 2003.

Kapoho Beach Lots: $42,000 -259,000 (This included the 5 acres lots known as Kapoho Farm Lots

Kapoho Vacation Land: $15,000-65000

Kehena Beach Estates: $19,000-22,000

Leilani Estates: $4000-10000

Mauna Loa Estates: $6000-12,900

Nanawale: $1250 - 2000

Ohia Estates: $7500-16000

Orchid Isle Estates: no activity in past 6 months

Orchid LAnd Estates: $10,500-37000

Pacific Paradise Gardens: $14,900 - 19000

Pacific Paradise Mt. View Manor: $3500- 9295

Puna Beach Palisaides: $17500 - 4000

Royal Hawaiian Estates: $2500 - 5000

Tiki Gardens: $1500- 5250

WaaWaa: 11000- 2500

S. Hilo: From 10,000 - 2 acres. Average sales price is $75,000 Price range from $20,000 - 225,000

Hamakua: Avg lot size 16.80 (This is where David M gets to brag if he wants. 6 months avg sales price is $155,000 This includes lots from under one acre to 40+ so I am assuming the avg sales price was for at least 10 acres. My recolecton from that time frame is that the average price was probally for more than 10 acres.

N. Hilo: Ave list price is $157,000 Lot sizes 2.3 acres - 28+ acers Price ranges from $86,000 - 220,000

Wow, what a difference a few years makes.





Atlanta/Pahoa

[leilaniguy]

In spring of 1999 I stumbled across the Hawaiiinformation(MLS)website. After I saw the price of houses and lots, flew here to check it out. I sold everything and was packed up and moved here within 6 months. I bought my 4 bedroom, 2 bath home with a guesthouse for $64 thousand. I remember at the time looking at houses in Leilani for $25 thousand, in Nanawale for as little as 10K for a permitted fixer.

[Hotzcatz]

Well, if it was data from 1999 that would have been four years after the sugar company closed - although the last harvest delayed the actual demise a bit. Also in '95 there was a huge welfare cut, so the people around Hilo had (collectively) lost about 40% of their income and many of them had lost their jobs just several years before. We had more people leaving the island than arriving since there was no support for them. Rental prices were incredibly low and many houses were empty since they couldn't get renters at all. Folks weren't driving their cars since they couldn't afford gasoline, they weren't painting or repairing their houses - other than no money to do it with, the houses had no "value" other than to keep the rain off. It takes quite awhile for a community to recover from the depth of income loss Hilo had sustained, so of course the prices were incredibly low.

Also at that time the stock market was doing a meteoric rise for the moon so folks were putting their investment money in the market instead of land. However, at the beginning of 2000 the market tanked and folks were looking for new places to put whatever money they had left.

[mella l]

Thanks for the background. How sorry those days must have been, for friends, neighbors, for all.

mella l