Market Conditions Report
* Hilo *
You asked for it! We’ll now be periodically providing Market Condition Reports on specific areas on the Big Island, and we’ll start with Hilo …
Area Characteristics: Hilo is located on the east side of the Big Island of Hawaii. It is the second largest city in Hawaii with a population of approximately 60,000. Generally this is a lush green area with fair amounts of rainfall. The population makeup tends to be more local (native Hawaiians) then that of the Kona area, or west side of the island. The county, state, and federal offices are all located in Hilo, as well as the University of Hawaii at Hilo, a major contributor to the local economy and culture.
For the individual thinking of relocating to Hilo, you will find the people warm and friendly, and there are numerous opportunities. Unemployment is extremely low, and well paying jobs may be hard to find. On the other hand housing is relatively affordable when compared to other parts of Hawaii or the continental U.S.
If you are looking for a small town feel with all the amenities of a larger city, Hilo is the place to be.
Buyer’s or Seller’s Market: On a scale of 1 to 5, with 1 being a buyers market and 5 being a seller’s market, Hilo is at a 2. This is a buyers market.
Recent Price Trend: On a scale of 1 to 5, with a 1 reflecting sales prices down and 5 reflecting prices up, Hilo is “Down”, with a rating of 2.
Market Report Narrative:
Hilo has not really been affected by the market downturn over the past 1.5 years. Sellers are still listing their properties at nearly the same price range as last year. The difference is, there is greater inventory on the market, and sellers are often willing to take less than asking price in order to move their properties. Over the last year those properties that were listed on the MLS in the Hilo area (up to 1 million) sold for an average of $375,434. Currently, there are 143 properties listed that fit this description, with an average listing price of $428,059. As these properties linger on the market, most of these sellers will accept less. While this is definitely a buyer’s market sellers, particularly those of high end properties, are still getting fair value.
According to www.cheaptickets.com today:
Alaska Airlines Expands into Hawaii
Alaska Airlines introduced its first nonstop daily service between Seattle and Honolulu on Friday, October 12th.
The flight is part of a wider expansion by the airline into Hawaii, with routes from Seattle to Lihue and Kauai due to commence on October 28th.
In addition, a nonstop service from Anchorage to Honolulu will be launched on December 9th.
Gregg Saretsky, Alaska Airlines’ Executive Vice-President of Flight and Marketing, said, “Our customers and employees have been waiting for this day — when Alaska says ‘Aloha’ to Hawaii — for years.
“Customers now will be able to enjoy Alaska’s unique brand of service and earn Mileage Plan miles whether they’re booking a flight or a complete vacation package to the beautiful islands of Hawaii.”
All the new flights will be operated with Boeing 737-880 aircraft and passengers will be able to purchase Hawaiian-themed meals onboard.
Big Island Climate
Because of the size of the Big Island, as well as the fact that the island has two mountains over 13,700 feet tall, you can expect to find very many different climates on this pacific playground.From beautiful tropical beach weather to cooler elevations where fireplaces are necessary at night, the Big Island offers a climate for everyone.Hawaii temperatures are in general mild and do not vary more than about +/- 5 degrees throughout the year.
Click here to see the 10 day weather forecast in Hilo.
Here’s a map displaying the Big Island Annual Average Temperatures:
Here’s another displaying the Annual Average Rainfall:
Big Island Things to Do
The Big Island’s size and diversified climate means there is a lot of activities and entertainment to participate in. From hiking to rodeos to scuba to snowboarding, the Big Island offers just about everything.
One of my favorite resources for things to do, featuring “nature and culture based experiences”, is Alternative-Hawaii. Another of my favorite resources is InstantHawaii.com, featuring information about Hikes, Parks, Trails, Scenic Drives and more.
Below is just a small list of activities that are available to visitors and residents of the Big Island:
- Hundreds of miles of hiking trails and mountain bike trails
- Volcanically heated swimming areas
- Surfing and body boarding
- Scuba and snorkeling
- Playing with red hot lava
- Shore fishing and deep sea fishing
- Boat cruises
- Stargazing and Astronomy shows
- Cavern and Lava Tube tours and clubs
- Golfing (18 golf courses)
- Rafting and flume rides
- Petroglyph sites
- Flower and Tropical gardens
- Whale and Dolphin watching
- Helicopter tours
- Wineries and Coffee plantation tours
- Horseback riding and rodeos
- Kayaking and Canoeing
- Bird watching
- Farmers Market
- Shopping, shopping and more shopping
About the Districts
The Big Island is divided into nine districts. Since the trade winds normally blow from the northeast, the west side of the island experiences drier and warmer weather than the east side, which is cooler and wetter.For more information about any district simply click on the district name below.
Big Island Stats At-a-Glance
The Big Island
Big Island Overview
The Big Island of Hawaii is the youngest and largest island in the Hawaiian chain. Also know as the Orchid Isle, the Big Island is 4,028 square miles of land and is twice the combined size of all the other islands put together.The Big Island was formed by five volcanoes, two of which are still active. In fact, Kilauea Volcano is the world’s most continuously active volcano.Besides active volcanoes, the Big Island also boasts the southernmost point in the United States as well as the tallest mountains in the state at 13,796 ft.The Big Island also has the most diverse climates of all the Hawaiian Islands. From tropical rainforests to open prairie and snow covered mountains – just about every possible climate exists on this beautiful island.
Besides tourism, the Big Island’s major industry, other significant industries on the island include:
- The largest macadamia nut industry in the world
- The largest orchid growing business in the world
- The major coffee industry in the United States
- The major ginger producer in the United States
- The largest astronomy research facilities in the world
- Aquaculture with over 43 farms producing shellfish, finfish and algae, valued at $13.1 million