The Kohala Coast is one of the most beautiful areas in the entire state. Foreign investors think so too at the rate they are buying property here. Foreign investment has driven up the price of real estate here it is. Foreign money represents big money, these are investors who call Hong Kong, New York and London home. Not only is real estate brutally expensive it is also incredibly small, even for the ultra-rich.
Space is the new luxury
Finding a luxury Big Island home in a beautiful location with adequate space is the new luxury item and the Kohala Coast definitely fits that bill. Buyers that come from Hong Kong value space more than anything when they are shopping for a second home. Property on the Big Island fits what they are searching for perfectly. They can buy homes and properties that they could never find back home nor could they afford them. Even the ocean front properties come on lots with at least an acre if not more.
Even Condos are a Good Buy
Even condos in Hawaii have a ton of space compared to what you would find in the big financial centers of the world. They are tastefully laid out with some amazing views. Hawaii has a far more laid back atmosphere compared to Hong Kong or New York. Here in Hawaii they can truly relax, they can vacation in paradise whenever they want. Hawaii still has all the things you want in a big city, exquisite restaurants, entertainment but you can spend your mornings sipping coffee next to the pool
Don’t overlook the investment aspect. While many foreign investors are looking for a second home, there are more still who are looking for a place to park some cash and make some money. From 2011 until now the median home price when from $350, 000 to nearly $600, 000 and that is a huge hike. If you are looking for somewhere to make an investment then luxury real estate on the Kohala Coast is one of the best. Foreign investors can afford to buy tens of millions worth of real estate and wait for the price to go up.
If you are looking for luxury real estate on the Big Island then you want to team up with a local Big Island realtor who knows this area like the back of their hand. You want to make sure you not only get the perfect property but you need to understand the strange rules that affect Hawaiian real estate. The last thing you want is to have your view spoiled by a new development.