With the fluctuating cost of building materials, it’s fairly safe to use $150 to $200 per square foot to get a “ballpark figure” on what it would cost to build a home in Hilo.
When asking for pricing from various contractors and friends, we’ve found the low- average for a single-family home to be around $250 per square foot.
To build a home in Hawaii it costs about $180 -250 a square foot if you go with reputable licensed contractors using safe quality materials. If you do the work yourself, you might be able to get the cost down to about $150 /ft.
Beware, however, of lava zones—as we have all learned, the Big Island is still growing and your nice cheap land may be cheap because it is at risk of being covered in lava. And, the Big Island is geologically-speaking, a baby island —there aren’t a lot of really nice beaches.
The high cost of living often intimidates those making the move to Hawaii . While the cost is higher than many other states, living on Oahu can actually be surprisingly affordable in other aspects. Hawaii offers the opportunity to enjoy the outdoors, get around town and cook dinner without having to ‘break the bank’.
Whilst building a brand new home can take some time, and you’ll have to budget for more than the cost of the land and the build – it can still end up being cheaper than buying an existing house .
It’s not easy, but it’s not rocket science either, and for anyone with a little risk tolerance and a little money, Hawaii Real Estate is a great investment . Property in Hawaii is unique in many ways. In fact many homes in Mililani have a better view of the ocean than a lot of homes in Kailua or Hawaii Kai.
Pros to Buying Although purchase prices are high, the long-standing trend is that home values appreciate steadily year on year. The rental market is solid in Hawaii as well, so if you want to hold onto your asset to get better appreciation when you need to PCS out, your tenant will be paying down your mortgage.
This is the typical form of ownership that you can find everywhere. In Hawaii , it is possible for foreigners to own land since the late 1800s. Advantage: You own the land that your home is built on and you don’t have to pay a monthly lease. Disadvantage: Higher purchase price.
Normally, you would allow 3 months for planning if you meet with an architect. Submitting the building permit and waiting for approval can take 2 months. Depending upon the size of the project, it will take another 8 months to a year after you get your permits to build an average sized home.
Property owners who are building or improving their own home or business site, however, can register as an Owner-Builder with their county building department. This exempts owners from the requirements to be licensed as contractors, yet still allows them to obtain building permits.
Cost to Install a Brick, Stone or Block Wall in Honolulu
|Typical Range||$5,900 – $12,500|
|Low End – High End||$2,750 – $28,000|
Aside from a gorgeous coastline, Maui offers lush rainforests, farm-to-table dining and world-class golf. Overall, Maui offers more in the way of resorts, traditional beachfronts and nightlife compared to the Big Island . The landscapes are also a bit more predictable than the Big Island .
Hilo is more affordable and has more local character. Hilo definitely feels less touristy than Kona , which is a good thing. Hilo has some great rainforests and waterfalls in the area, so it’s a good place for hiking and other outdoor activities. The Hilo side gets a lot more rain than Kona , so consider that as well.
Living in Hawaii and Housing Cost
|COUNTY||AVERAGE RENT*||INCOME NEEDED|
|Hawaii (Big Island)||$1,194||$22.96/hour or $47,760/year|
|Honolulu (Oahu)||$1,985||$38.17/hour or $79,400/year|
|Kauai||$1,238||$23.81/hour or $49,520/year|
|Maui (includes Molokai and Lanai)||$1,286||$24.73/hour or $51,440/year|