Buying a house on Hawaii's Big Island

We (wife, daughter, me) are going there in a couple of months. Mainly to look, snorkle, relax and look at some houses or properties for retirement place.
Anyone knows the pro's and cons of living on the Big Island for net access, light trading and year around living?
Houses are pretty cheap but not exactly well made, manufactured etc.
I do not care, you do not need heat or other ammennities there, only a nice power boat to escape the vulcano

 

Don't move there. Hawaii won't be around in the future.

 

Ya got some reasoning to go along with that?


...Don't bother if it has anything to do with the Mayans, the Quakers, or The Scorpions.

 

I assume that you checked the time zones for trading. Brutal.

 

I do not trade actively, mainly move money in and out of indices....
I spend my time with writing and publishing...
The house prices on the Big Island versus other places (in Hawaii) alarmed me; the market is saying the Big Island is nota stable place...(kinda in line with what Hydroblunt is saying)

 

something to consider if you are serious about buying property:

In Hawaii, much of the land is owned by trusts, dating from the time when Hawaii was a monarchy, and a few large estates owned the land. These trusts still retain ownership of the land. The trusts then lease the land to a buyer through a leasehold interest. The buyer makes regular lease payments and pays property taxes.

Private ownership of land zoned for residential use is more limited than leasehold property. Fee simple land tends to be more expensive, since the owner holds title to the property and can pass it along to heirs.

Typical leasehold provisions run for 55 years with the rent fixed for approximately 30 years. New rates may be based on the current market value of the land. The State limits the lease rent. Financing is available, although many lenders look at the number of years left in the lease at the time of the sale.

The question of whether or not to buy leasehold land is something that you must consider separately for each property; there is no one "best answer."

 

I can understand the Mayans but Quakers & Scorpions? Huh?

Regardless, Hawaii will be going underwater in the future.

 

Wow that's some serious sea level rise, given the highest point in Hawaii is 13,796 feet above sea level.

http://en.wikipedia.org/wiki/Mauna_Kea

 

maybe you can consider the USVI instead

 

The Hawaiian islands are the result of volcanoes. They aren't going anywhere except south at a couple inches a year.