The Big Island – Hawaii, is home to over 200,000 residents. Countless visitors make their way to the island every year. Many of them think of settling here. They talk to local real estate agents and, after discussing the market, the expense and other factors, some even make the plunge. This state of affairs, the invasion and settlement of Big Island has been going on for centuries.
The first Western settlements that had any impact on the island began in the 1700s – the first known one Captain Cook (1778). Between then and the 1800s, Westerners arrived to explore the island. Missionaries and explorers introduced sugar and cattle to the residents. The former established the first Christian religious site in Kailua Village (Kailua-Kona) in 1820. This was the now historic Mokuaikaua Church.
The result was a change in the island’s economy and the first large piece of real estate ever – The Parker Ranch. Sugar plantations soon became established on the Hilo side, although this was not until the 1900s. Any early real estate agents for this period dealt with the selling of farms.
As Hawaii became more popular – partly the result of movies such as Blue Hawaii with Elvis Presley and the original TV series Hawaii Five-O, real estate agents began to sell more than small bungalows. They began to deal with resorts and the construction of larger holiday homes. This was particularly true for the 1970s. Among the more popular resorts of the time period were:
3. Mauna Kea
4. Mauna Lani
The area actually underwent a boom in the late 1990s. This lasted well into the early 21st century with only a slight dip in 2008.
Real Estate Agents and the Market Today
The real estate market continues to be positive on Big Island. There is a distinct decrease in foreclosure properties and other housing indicators of hard times. Real estate agents may actually find themselves with fewer properties to sell. While the overall price of single-family residences is relatively steady, that of condominiums, seen as a great vacation home investment, is increasing. As usual, the actual prices will be affected by that age old real estate law – Location. Location. Location.
When it comes to finding a place to rent or buy on big Island, it is important to deal with someone local. Decide upon a specific region and talk to real estate agents who live and work in this area. By doing so, you can learn about the history of the real estate market in this part of Big Island. You are also more likely to find the right place to match you and your needs.