Avoid Steep Oahu Home Prices by Hopping to the Big Island
Rather than paying the steep price of Oahu properties, home buyers are considering the budget-friendly island of Hawaii. Homes on the ig Island are far discounted in comparison to Oahu - the median value of homes is $336,700, about half of Oahu's $660,600. And the homes listed for sale in these markets have price tags in line with their values. The median price of homes for sale on the Big Island is $426,250 - about $200,000 cheaper than Oahu's $630,000.
Buyers struggling to find a home in Oahu should consider house hunting in one of these seven markets. All have home values below Oahu's, and six offer active listings at cheaper costs.
On the east side of the Big Island is Pahoa, the easternmost city on this list. The median home value here is $176,000, which is below the national value of $202,700. And with a median listing price of $205,900, homes currently for sale in Pahoa fall below the U.S. median listing price by more than $50,000.
Don't worry about missing out on attractions in Pahoa. The city offers Kapoho Tide Pools, Lava Tree State Monument, Ahalanui Park, Kehena Black Sand Beach and Kilauea Iki Trail.
Farther inland than Pahoa, but still on the east side of Hawaii, is Mountain View. Here the median value of homes is $205,200 - about $131,000 lower than the median value across the entirety of the Big Island. And the cost of homes for sale in Mountain View is $212,000, almost three times less expensive than Oahu.
Living in Mountain View provides proximity to Hilo Coffee Mill, Makana Gardens and Hawaii Volcanoes National Park with two active volcanoes - Kilauea and Mauna Loa.
Also along the east coast of the Big Island and north of Mountain View is Keaau. Like the first two locations, Keaau boasts a median home value that's lower than the Big Island's, at $273,800. Meanwhile, the median price of homes for sale in Keaau is $314,900 - more than $100,000 less than the median of all for-sale listings on the island.
Locals aren't void of activities here, either, with attractions like the Panaewa Rainforest Zoo, Makuu Farmers Market and nearby Kaumana Caves.
Homes on the west side of the Big Island come at a steeper price than those on the east side, but the Captain Cook market is still far less expensive than buying in Oahu. This coastline community has a median home value of $379,300, still $280,000 lower than in Oahu. The homes currently on the market in Captain Cook are listed at $509,000 - higher than the median on the Big Island but still $120,000 below the median on Oahu.
Captain Cook offers multiple activities, including visiting the Kona Coffee Living History Farm, Kealakekua Bay, the Captain James Cook Monument or Paleaku Gardens Peace Sanctuary.
At the northwest edge of the Big Island is the village of Waikoloa. At $443,100, the median home value here is about $215,000 less than in Oahu. Meanwhile, the cost of homes listed for sale in Waikoloa - $499,000 - is still $130,000 cheaper than in Oahu.
Residents enjoy 49 Black Sand Beach, Anaehoomalu Bay and the historic Waikoloa Petroglyph Preserve.
North of Captain Cook is Kailua Kona, another coastal town. Homes in Kailua Kona are valued below Oahu homes by roughly $165,000, at $495,500. Although the $570,000 median cost of Kailua Kona listings is more expensive than the prior markets, shopping here still offers a $60,000 savings compared to Oahu.
Outside of work, locals visit Maniniowali Beach or Kaloko-Honokohau National Historical Park.
At the northern tip of the Big Island is the priciest market on this list - Waimea. The median home value is $498,400, almost identical to values in Kailua Kona and $160,000 below Oahu values.
However, the median price of homes on the market in Waimea is $649,000, about $19,000 more than the current listings in Oahu. But higher prices today don't mean higher prices tomorrow, as the active listings vary regularly.
Although some homes are currently more expensive in Waimea than in Oahu, buyers can enjoy Spencer Beach Park, Mauumae Beach and several farmers markets. Waimea is also close to Mahukona Beach Park and Waipio Naalapa Trail.
Home buyers feeling defeated by Oahu's high prices should consider shopping in the less expensive, yet attractive markets on the Big Island.