Buying In Hawaii The Basics Of The Big Island
Hawaii may seem like a dream to some — but it’s quickly becoming a reality for many. In fact, between 2010 and 2015, visitation to Hawaii increased by 4.3% annually. There’s just something about Hawaii that people love — between the sand and the surf, people can’t get enough of the big island. For that matter, lots of people find themselves becoming increasingly invested in Hawaii’s natural beauty and culture, and want to be a part of it themselves on a permanent level. This, of course, can only be achieved by buying Hawaii property. Getting into Hawaii real estate can be an intimidating prospect. Though Hawaii is, of course, an American state, it can sometimes feel like a different country. Navigating big island land for sale can be confusing to some, and you may question whether or not it’s worth it. Investing in Hawaii, however, isn’t just about making a home for yourself. It could very well be about making an investment in your future. There’s a lot of value in Hawaiian land, especially in the Waikoloa Village area. Waikoloa beach villas are prime pieces of real estate, and even if you don’t want to live in Hawaii full time, you can make a lot of money off of your investment property. Whether you’re looking to create an investment opportunity for yourself or find a new home — let’s look into the advantages of buying Waikoloa real estate.
Waikoloa Beach Villas: The Investment Opportunity
People will kill to rent a great villa in Waikoloa Village, and with good reason. The community is small and relatively secluded, with great beach options and lots of privacy. Therefore, Waikoloa beach villas are in high demand among vacationers. If you’re looking to invest in this area, you may be able to find a beach villa or house already built. If you want to make something more personalized, you may want to buy up some land and build a villa upon it. Waikoloa beach villas, due in part to the exclusive nature of the area, don’t come cheap for renters. Typically, the average per-night rate for any vacation or home rental was $170, compared to $244 for a hotel room in 2015. A Waikoloa beach villa could likely grab an even higher rate, depending on its proximity to the beach and amenities. According to the Hawaii Tourism Authority, 7.4% of visitors to the island stayed in vacation rentals, making this a booming market. Some find that they can make a great income off of renting out their home — while at the same time having a place to stay when they want to visit Hawaii themselves.
Owning Hawaiian Property: The Realities
Some worry about the practicalities of owning a Hawaiian property, whether or not they live there themselves. Hawaii has adapted to these issues, making own a property on the island much simpler than some might think. For that reason, in 2011 the rate of home ownership in Hawaii rose to 55%. A lot of people own land while conducting business off the island; a report has indicated that 32.3% of property taxes in Hawaii are paid by owners off-island. Thanks to the Internet, much business can be conducted without actually being on the island, which certainly makes life easier for a lot of people who want to own island properties without actually leaving the comfort of their own residential homes. There are plenty of property management companies who can help you care for your Hawaiian property even if you don’t have any renters staying there.
Seeking Hawaiian Property: How To Begin
If you’re settled on buying a Hawaiian property — to live in or to rent out — you should first set out to work with a reliable real estate company. Don’t trust the first company you speak with, especially if you can’t visit the island in person at first. If you work with the right people, you should be able to get the right property, at the price you want.