As a follow up to my last blog post about a wonderful newly built home in HPP, here’s an update on home sales in HPP. While the Kilauea lava flow is causing uncertainty in some parts of lower Puna, Hawaiian Paradise Park is seeing brisk home sales. Last month there were 14 home sales in HPP with a median price of $253,000.
Views from 3rd Ave, HPP
Home sale prices are increasing in middle and upper Puna, so now is an excellent time to purchase in HPP. According to stats from Hawaii Information Service, the median price for single-family homes on the Big Island in September was $350,000, up 21 percent from $277,500 the same month last year.
It’s worth pointing out that the Big Island’s most active area for single-family home sales was in Puna, where the median home price jumped 20 percent last month to $210,000, up from $175,000 in September 2013.
There are a lot of reasons why HPP is a sought after neighborhood these days with people snapping up new homes like this newly built model (MLS# 275622).
This home was built with extreme care and consideration of every quality detail, including location
Location. The community is close to shopping, dining, and cultural activities in Hilo, Volcano, and Keaau. Of all the subdivisions in lower Puna, HPP is closest to Hilo, meaning shorter commute times to Hawaii’s second largest city – the business heart of east Hawaii.
Lot size. Encompassing a little more than 15 square miles, there are 10,000 lots in HPP but only 4,526 housing units, according to 2010 Census data. Lots in HPP are generally an acre in size, meaning everyone has plenty of breathing room. With more than 137 miles of private roads within HPP, there’s plenty of room to bike, jog, or stroll.
This 3 bed, 2 bath house with office may be customized if purchased prior to completion
Lava zone. And more importantly at this particular moment, homebuyers are seeking out HPP because it is on the Hilo side of the lava flow. Homes in HPP are in Lava Zone 3. Back in the 1974, the U.S. Geological Survey Hazard divided the Big Island into nine zones rating them on the location and frequency of historic and prehistoric lava eruptions and flows. There are nine hazard zones with Lava Zone 1 closest to the lava (in lower Puna) and Lava Zone 9 the furthest away (in Kohala).
If you’re interested in learning more about HPP properties for sale, give me a call me today at (808) 987-4511 or email me. Or you can call my business partner, Jessica Hall, at 808-217-5860 or email her.