Buying Affordable Home in Hawaii

Buying Affordable Home in Hawaii


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Hawaii is usually regarded as one of the best places to live in the US. Have you ever dreamed of living in Hawaii? In case you are already thinking to live in Hawaii, you might also be looking to buy affordable home in Hawaii. Hawaii consists of 8 major islands, viz: Niihau, Kauai, Oahu, Maui, Molokai, Lanai, Kahoolawe and the Big Island.

If you are thinking to buy affordable home in Hawaii, there are dozens of cities to choose. Honolulu is the biggest city in Hawaii, in terms of population density, total population and the area. In terms of area, Hilo is the second biggest city, however, based on the total population East Honolulu is the second big city. Area wise Kahului is the third largest city in Hawaii, however based on population, Perl city is the third largest city. For many people buying homes in Hawaii is just a luxury because Hawaii is about 30 percent expensive compared to the mainland US territory? However, it is not really hard to get affordable home in Hawaii

In comparison to the mainland, the cost of living is higher in Hawaii, however, per capita income is bigger in Hawaii than in the mainland. Therefore, if you get a home for $500,000 in Hawaii, which otherwise would have cost you $300,000 in the US, will be considered a cheap option in Hawaii.

In order to find affordable homes in Hawaii, first and foremost, you need to find affordable cities in Hawaii. Your research begins with comparing the cost of living, food prices, commodity price, housing price etc. in different cities.

If you are thinking of buying affordable homes in major Hawaiian cities, here are some options to choose. We did a quick research and found that these major five cities are the most affordable cities in Hawaii.

 

 

  1. Hilo: The average home price in Hilo is around $301,300, which is far lower than the average home price in the entire Hawaii state.
  2. Kahului: The average home price in Kahului is $485,000, which is considerably low. However, the average income is $62,038, which is considerably high.
    1. Honolulu: It costs around $565,000 to buy a home in Honolulu. This is higher than the average home price in the state, however, considering the average household income in Honolulu, which is around, $60,548 (higher than the average household income in the state, home price in Honolulu can be considered moderate.
    2. Kaneohe: The average household income in Kaneohe is $81,907and average home price is $627,500. Since the average income is higher than the US average income, this can be considered affordable city.
    3. Kailua: Considering $104,911 average household income in Kailua, $813,600 average home price can be considered moderate.
  3. If you still think the home price is beyond your reach, you can choose young, small and lesser known cities where the home price is considerably low. The low home price in these small Hawaiian cities does not mean the living standard will also be low. Here are some small, young and lesser known cities and towns in Hawaii where you can buy affordable homes.
    1. Laie, Oahu
    2. Wailuku, Maui
    3. Kurtistown, Big Island
    4. Waimea, Kauai
    5. Wahiawa, Oahu
    6. Haiku, Maui
    7. Kaunakakai, Molokai
    8. Lihue, Kauai
    9. Waianae, Oahu
    10. Hana, Maui

    If you are buying a home in Hawaii, there are many options to choose, you might consider big cities as well as small towns. Sometime back, the Hawaii Association of Realtors (HAR) reported that home price in the Big Island is lowest in the entire Hawaiian state. In 2011, the lowest price for the homes was $242,500 and average price for condos was $225,900.

     

     

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