Kevin Lewis, Clark Realty Corporation Real Estate Agent

Kevin E. LewisRealtor®

Clark Realty Corporation - Hilo Hawaii


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Big Island Hawaii Real Estate Market Report



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Median Sales Price – September 2017 - Title Guaranty Hawaii


Hawaii's "Big Island" is the Affordable Island!



How is the Big Island Real Estate Market?


The number of Big Island Hawaii home and land sales, as well as the median home sale prices continue to show that our local market is going up. There are still Buyer's Market opportunities, they are just getting hard to find. The volume of inquiries from potential Buyers show there is strong demand for Big Island real estate. The question is when enough Buyers will make their move... creating the next Seller's market! 


The Hawaii real estate market was affected by the West Coast real estate correction a few years ago. We saw median home prices fall about one-third from our all time highs. The recovery in the stock market, historically low interest rates, and an improving local economy have all helped the Hawaii County housing market. Vacant land prices, which corrected as a result of too many Sellers cashing in profits and too few Builders or Investors buying land, also are showing signs of recovery. The long term economic outlook for all of the Big Island of Hawaii remains positive. The real estate market on the Big Island Hawaii should continue to improve this year.


Buyers are always looking for a "good deal". Many who are buying properties today are planning for an early Hawaii retirement or for investment understanding that real estate markets are cyclical. My survey of recent sales show that sale prices average about 95% of asking prices. We are seeing a lot of cash sales these days.  I don't see cash sales getting a bigger discount, but your offer will look better when you can close in 30 days instead of 60 days for a loan. "Contingent Upon Sale" and "Low-Ball Offers" are rarely accepted in our market. Inquiries from want-to-be residents continue to keep many of us agents busy, so we know the demand is there. Buyers who wait too long trying to time the market may find themselves saying, "I could have, would have, should have..." bought when it was a Buyer's market!


Sellers are saying "I didn't get as much as I wanted, and it took longer than I thought - but I sold!" The prices of Big Island real estate sales are still below our all time highs, but the number of sales have been within our 10 year average. My recent count show a range of 20% to 25% of the residential properties on the market in escrow, and about 5% to 10% of the vacant land parcels in escrow. It's worth it to put the property online if it is priced right. It's the "Lets try 20% above the market recent sales to see what happens" that disappoints Sellers when their property does not sell as fast as they would like.


Attitudes are changing about the improving Hawaii economy and our local Hawaii Island real estate market. This should help this be a another good year for Big Island Hawaii real estate sales.


Kevin E. Lewis is a Hawaii licensed real estate agent with Clark Realty Corporation, located on the Big Island of Hawaii.



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Mahalo for visiting my Big Island Hawaii Real Estate Website! Kevin E. Lewis, Realtor® RB-18141 Clark Realty Corporation - Hilo Orchid Isle, NOBODY Knows the Big Island Like We Do!™
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