Who doesn’t dream of escaping the woes of the mainland and moving to Hawaii? Of course for most of us, that’s just what it is: a dream. But now that the Hawaii real estate market is changing and interest rates dropping, your real estate pipe dreams could soon be a reality. The best part is that you don’t even have to give up your mainland lifestyle in favor of a smaller, more condensed property. For homebuyers looking for an island lifestyle that feels more like home, we suggest they consider The Big Island.
One benefit of making a move to The Big Island is that there is a great deal of land and space, which can afford a more mainland lifestyle. There is no shortage of condos and smaller homes, but The Big Island also offers more spacious accommodations and the opportunity to purchase more land. In addition to being larger, The Big Island is also home to many new developments that seem to crop up in frequency all over the island. In the last fifteen years, it has gotten an impressive facelift and seen a great amount of population, as well as financial growth.
After the market downturn in 2008, the real estate industry in Hawaii has more than picked up. At one point interest rates were in the 6s and 7s but now remain steadily in the 3s and 4s. Surprisingly, Hawaii is actually faring well in the real estate market against national averages. Because interest rates and prices are still low, The Big Island continues to be a popular choice for homebuyers today.
While it offers great pricing and a great deal of space, The Big Island is still very much Hawaiian in culture. After all, there’s a reason Hawaii is one of the top vacationing destinations in the US. There is truly something for everyone there. From surfing to hiking, shopping to dining, The Big Island has everything you need to live your normal life but still maintain an easy island lifestyle.
The Big Island is more accessible that ever, and with real estate prices as low as they are, now is the time to make your dreams come true. What are you waiting for?