Hawaii is famous as a vacation destination, but the islands also host an active land market fueled by second-home buyers and investment opportunities. As the state swells with tourist arrivals and mainland relocations, infrastructure requirements increase while land supply remains constrained by strict planning laws. The result is a booming property market in which approved development land carries considerable long-term value.
The price per acre of land in Hawaii can range considerably, depending on location and zoning classification. Vacant residential development plots in high-demand metro regions, for example, easily eclipse $3 million or more per acre. Rural acreage on the Big Island or Maui is typically more affordable.
However, it is important to understand the different types of land in Hawaii before searching for the best value. Each of the Hawaiian Islands features a unique landscape, as well as different zoning classifications. A knowledgeable real estate agent or mortgage broker can provide an educated overview of the property market and help investors navigate the process.
Land in Hawaii can be purchased with either a fee simple ownership or leasehold. Fee simple ownership offers the investor full legal rights over the property, and it is the most common form of land purchase in Hawaii. Fee simple ownership is a solid option for investors who want to build homes or develop the land into a commercial business. Leasehold ownership, on the other hand, has specific restrictions and limits the owner’s rights.
A knowledgeable real estate expert can explain the pros and cons of each type of ownership, as well as the differences between zoning classifications. This will help investors make the best decision for their own personal goals and needs.
Finding cheap land in Hawaii is not impossible, but it requires a thorough understanding of the local market and the laws surrounding land ownership. Investors can work with a real estate agent or a mortgage broker who specializes in selling land to learn more about the process. The agent can help find cheap land in Hawaii that is suitable for the investor’s goals and can answer any questions they might have about the land.
Purchasing land in Hawaii is not easy for non-citizens, but it is possible with the right resources and knowledge of the laws and regulations. Buying land in Hawaii for sale requires substantial capital and the patience to invest in the development of the property over time. For those lacking the resources or the interest in developing land solo, collaboration with a real estate company like Land Boss can allow individuals to offload a Hawaiian land asset faster through direct cash sales rather than extended piecemeal marketing efforts.