Big Island Among Most Affordable Regions for Those Seeking a Hawaii Mortgage

As homes prices in Maui remained steady - and steep - those considering a Hawaii mortgage may wish to look elsewhere for a deal.

Consider Hawaii County, for example. Realtors closed on 138 single family homes in that sector last month, for a median price of $370,000. Both were down from a year ago.

Big Island home sales volume was down from 203 a year ago and the median was down from $384,000 a year ago, the Hawaii Information Service reported Monday. It’s a sizeable decrease for those considering a home mortgage in the state.

More than half the sales were in Hilo and points southeast: 28 closings in S. Hilo district for a median of $362,500 and 49 closings in Puna district for a median of $250,000.

There were 21 sales in the Kailua-Kona area, more than half for more than $700,000, and 15 in S. Kohala district, more than half for more than $500,000.

Big Island condo closings fell to 29, from 86 a year ago, and the median price fell 10 percent to $335,000.

Considering the low level of mortgage interest rates and the reduced prices, it’s a good time to look into home ownership around these regions. Let us know if you’d like our help.