Big Island Real Estate: Areas, Prices and What to Know Before You Buy (2026)

By Tony Kawaguchi, REALTOR (RS-66616), The Kawaguchi Group, eXp Realty (RB-21841). Selling in Hawaii since 2005. Updated November 13, 2026.

The Big Island is bigger than all the other Hawaiian islands combined, and it has climates from dry lava coast to rainforest to cool upland pasture. Kona and Kohala on the west side are sunny and resort-oriented; Hilo and Puna on the east side are green and wet; Waimea is cool ranch country; Kau in the south is remote and rural; Volcano Village sits in the forest next to the national park.

I'm Tony Kawaguchi. My team is based on Oahu, and for Big Island purchases we help buyers through eXp Realty's statewide network, including referrals to agents who work the island every day. This page is the overview; each area has its own page.

The main areas at a glance

These are October 2026 median prices from the Title Guaranty Hawaii market report for Hawaii Island (effective November 2, 2026). Title Guaranty is a Hawaii title and escrow company, and its free monthly report compiles the island's MLS sales statistics by tax district. One month is a small sample, so treat a district median as a starting point and look at actual comparable sales. North Hilo had no sales that month.

Prices and trends

Year to date through October, the island's single-family median was $550,000 (down 1.6% from a year earlier) and the condo median $616,500 (down 2.5%). Vacant land is a big part of this market: 1,112 lots sold so far this year, at a $60,000 median, most of them in Puna and Kau. The busiest neighborhoods in October were Hawaiian Paradise Park (23 sales), Ainaloa (13), Hawaiian Ocean View Estates (9) and Waikoloa Village (7).

Lava zones, volcanoes and insurance

The U.S. Geological Survey divides Hawaii Island into lava-flow hazard zones from 1 (highest) to 9 (lowest). Zone 1 covers the summits and rift zones of Kilauea and Mauna Loa; Zone 2 is the land next to and downslope of those rift zones. The zones describe long-term probability, not a forecast, and USGS is updating the map, which still dates from 1992. Zone matters for insurance and financing. When private insurers decline a home, the Hawaii Property Insurance Association is the market of last resort: it requires at least two declinations, offers dwelling limits from $50,000 to $450,000, and generally costs more for less coverage. Ask your lender and an insurance agent about a specific address before you are in contract.

The USGS says the long-term lava threat is greatest on Kilauea and Mauna Loa, followed by Hualalai above Kona. Kilauea's 2018 lower East Rift Zone eruption, which began in Leilani Estates in Puna, destroyed 716 homes. Kilauea has been erupting in episodes inside its summit caldera since December 23, 2024; the USGS reported a pause after episode 56 ended on November 5, 2026, with the volcano at Advisory level. Mauna Loa last erupted in 2022. Volcanic smog, or vog, also affects some areas depending on eruption activity and wind.

Vacation rental rules

Hawaii County's 2018 short-term vacation rental law (Ordinance 2018-114) allows new unhosted rentals only in certain districts: the V, CG and CV zones, residential and commercial zones inside the General Plan's resort areas, and RM-zoned condominiums. Outside those areas, only rentals that were operating before April 1, 2019 and hold an annually renewed nonconforming use certificate can continue. Since September 1, 2026 the county also requires every transient vacation rental, hosted or not, to register through its online portal under Ordinance 25-50, with a grace period through the end of 2026. Condo association rules can be stricter than the county's. In practice, this means resort areas such as Waikoloa Beach Resort, Mauna Lani and parts of Kailua-Kona can generally host new vacation rentals, while most residential neighborhoods cannot unless a rental already held a nonconforming use certificate.

Nightly rental income is taxed separately from property tax: the state transient accommodations tax is 11% as of January 1, 2026, each county adds a 3% county TAT, and general excise tax is 4.5% in both Maui County and Hawaii County, so plan on about 18.5% of gross rent before income tax.

Flood, tsunami and shoreline

Check the parcel on the state's Flood Hazard Assessment Tool, the tsunami evacuation map and the Hawaii Sea Level Rise Viewer. Hilo's bayfront and low coastal areas on every side of the island fall in tsunami evacuation zones. Many rural homes on both islands still use cesspools. State law requires every cesspool in Hawaii to be upgraded, converted or connected to sewer by 2050, so a buyer should know what system a property has and what replacing it would involve.

Land tenure

Most Hawaii Island homes and lots sell fee simple. Leasehold still appears in some Kona-side condos and older subdivisions, and Department of Hawaiian Home Lands homestead leases have their own eligibility rules. On rural lots, I look closely at legal access, road maintenance agreements on private roads, and whether utilities actually reach the parcel.

Getting around

Kona International Airport (KOA) serves the west side and Hilo International Airport (ITO) the east. From KOA, Kailua-Kona is about 15 to 20 minutes, Waikoloa Beach Resort 20 to 25, Waimea 45 to 55, Captain Cook 35 to 50 and Ocean View 75 to 90. From ITO, Hilo is 5 to 10 minutes, Pahoa 30 to 40 and Volcano 40 to 50. Hilo to Kona over the Daniel K. Inouye Highway (Saddle Road) takes about 1.5 to 2 hours. These are our own estimates for light traffic, not official figures.

Property taxes

Hawaii County sets rates by class each May. A full-time owner who files for the home exemption is taxed in the Homeowner class, and the exemption also lowers the taxable value. Second homes and vacation rentals are generally taxed in the Residential class, which now has three tiers.

Illustration only: a home with $550,000 of taxable value would be about $3,162 a year in the Homeowner class before the home exemption, and about $6,105 a year in the Residential class. The exemption amount depends on the owner, so I have the county's numbers checked for the specific property.

Keep reading

• Kailua-Kona
• South Kona
• Waikoloa
• Kohala Coast
• Waimea
• Hilo
• Puna
• Volcano Village
• Kau
• Big Island market report
• Which Hawaiian island should I live on?
• Cost of living in Hawaii

Tony Kawaguchi, REALTOR (RS-66616), The Kawaguchi Group, eXp Realty (RB-21841). Selling in Hawaii since 2005. Phone (808) 201-3577. The Kawaguchi Group is based on Oahu; for neighbor-island purchases we work with buyers through eXp Realty's statewide network, including referrals to agents who work those areas every day. This page is general information, not legal, tax, insurance or financial advice. Market statistics are deemed reliable but not guaranteed and can be revised. Drive times are our own estimates for light traffic and will vary. Photos are of the general area and are not listings.