The standard of living in Hilo ranks as #5,774 most affordable out of the 6,418 places we measured in Hawaii. Guy Laliberte, the founder of the internationally known circus, is worth $2.5 billion, according to Forbes most recent list of the worlds billionaires. It belongs to Carol Ann Bartz, the president and CEO of Internet service company Yahoo! Theres room for expansion, too; Toyota also owns the adjacent lot, which is assessed at $4.7 million. You can't put a price on these beach views. He sold his mansion on the Bluffs of Mauna Kea (No. To spark island vibes, we started at the topas in the absolute pinnacle of Hawaiian real estate. How Much Is Car Insurance in Virginia in 2023? Homes For Sale New Homes Most Expensive Homes. 68-1029 Pauoa Way, Kohala, Hawaii $18,950,000 Located within Pauoa Beach, at the Mauna Lani Resort (a gated community), is this beautiful 5 BD/5.5 BA, 7,000+ SF house. Overlooking Kauai's North Shore - and beyond - from its position above Secret Beach, this 28-acre, four-parcel estate awaits new owners to take its swankiness to the next level. How did we determine the most affordable place in Hawaii? Kapaa, HI: 6 #4. Learn more. If you want to own one of Hawaiis top homes, it helps to be in computers or investment banking. The six-bedroom main house was built in 2001. So, want to know where you can afford to splurge on the Big Kahuna Burger and still be able to cover your cost of living in Hawaii? There are far worse places to socially distance than a gorgeous, remote island in the Pacific. We used data and science to determine which places in Hawaii go easy on your wallet. Oahu has some famously expensive neighborhoods, such as Kahala, Portlock and Lanikai, but they dont appear in the top 10 spots on our list. When this Mauna Kea Resort property sold for $29 million in 2007, it became one of Hawaiis biggest residential transactions ever. 4747 Kahala Ave. This estate is located on over 237 acres on Kauais North Shore. The master suite is more than 1,000 square feet and, in addition to the bedroom, has a living room and bar with the bath having both indoor and outdoor shower, lanai and large dressing room. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'homesnacks_com-medrectangle-3','ezslot_1',143,'0','0'])};__ez_fad_position('div-gpt-ad-homesnacks_com-medrectangle-3-0');And if you already knew these places were cheap, check out some more reading about Hawaii and the cheapest places in the country: We finish our list of cheapest places to live in Hawaii in Hawaiian Paradise Park. It includes a swimming hole, barn, covered arena, main house, ranch managers house, and many more features. However, when you are a homeowner in Hawaii, it gets pretty expensive. Source: Art Wager / iStock via Getty Images Hawaii: Urban Honolulu: >Cost of living in Urban Honolulu: 13.8% more expensive than U.S. avg. According to the press reports, the world's most expensive house is thought to be Buckingham Palace worth $1.55 billion. This is our ninth time ranking the. The cost to build a house in Hawaii is anywhere between $201,000 to $310,000 to build a 2,000 square feet home. DMCA Notice. It's also a standout architecturally. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed. Property ownershipis public information, but many of the billionaires and millionaires on our list have set up walls of privacy between themselves and the tax records. And the other is a one-bedroom/one-bathroom guesthouse. 4747 Kahala Ave (Kahala) - $15.2M. Kauai, May we suggest a car dealership? And its not hard to see why; Kapolei residents pay the seventh smallest proportion of their income on homes statewide. John W. Hoffee II is the retired founder of Temecula, California-based Professional Hospital Supply. 4. Alabama's Most Expensive Home Is a Secluded Golf Retreat for $7M, Your Special Island? They are: We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc). Mauna Lani Resort, Beaches, sun, and the pristine waters of the Pacific Ocean. And they get these natural wonders on the cheap. The sprawling mansion also includes a spa, tatami room and commercial-grade kitchen thats five times bigger than a lot of restaurants in town, says Yamamoto. The median rent comes in at $1,552 per month. What county in Hawaii has the lowest cost of living? Hilo is a major tourist destination thanks to being the principal city on the Island of Hawaii. The Kahala area does offer some of Oahus choicest property, and this three-parcel lot looks like a prime development opportunity. NUMBER ONE 1118 Ala Moana Boulevard, GPH 36, Honolulu | MLS #:201612214 $36,000,000 5 bedrooms 5 full baths 1 half baths 10,076 sqft Built and owned by former co-chief executive of Morgan Stanley's operations in the Asia-Pacific region, William H. Strong, the 11,708-square-foot house is made up of Balinese-style pavilions on a bluff overlooking the Pacific Ocean and Kilauea Lighthouse. The Maui retreat has obviously inspired McCafferythe investment management firm of which he is the CEO is called Makena Capital Management. Kahului-Wailuku-Lahaina, HI: 9 #3. The 15.33-acre property comes with one main house, two guest pavilions, and a caretakers residence. Carano has been a heavy hitter in the venture-capital scene since the 1980s, when he became partner at Oak Investment Partners. 3. It also has an extended living space through the mahogany furnished doors. Diamond Head Average sales price / interior square foot - $868.00 Data based on 35 homes sold over the past 2 years. The average home value in Hickam Housing is $0, the lowest in the state. Meanwhile, the unemployment rate is a puny 3.47%. A 6 BD home with 5 BA and 3 half baths, and over 9,500 SF of living space, sitting on 6.41 acres. 2590 Kauapea Road, Kilauea, Kauai (MLS# 286218). All this paradise comes at a price, of course. Not only is the lot 2.5 acres, there are 2.5 acres of conservation land in front, and another 3 acres of resort common area in back. Housing costs, defined as a blend of the average rent and average mortgage payment, are $21,264 per year in Maui County compared to $23,334 on average in Hawaii.
(Although when we flew over the property, the pond was all but empty. According to MIT, the required living wage for a family of four with two working parents in Hawaii is $107,702 vs the national average for a family of four with two working parents of $89,744. North Shore, Representative of the perfect tropical island, Kauai has attracted many film and television producers who have made more than 70 films there including Donovan's Reef, Blue Hawaii, Jurassic World, The Thorn Birds and the pilot and first episode of Gilligan's Island. With 360 degree views from mauka to makai, the price tag of this property speaks to the fact of the priceless location in Hanalei. Hawea Point: Spectacular and spanning 10 acres in West Maui, this property is behind guard gates and within the Kapalua Resort. Even more importantly, with a median income of $95,667, Waimea residents enjoy the second best home price to income ratio in Hawaii. The median income of a Hawaii household is $83,173. Ownership at Kukio includes membership only golf on an 18-hole Tom Fazio championship golf course, two clubhouses with private member only dining, sports complex, and an indoor/outdoor spa. The new buyers could potentially add more homes, athletic courts, pools, or whatever else their imaginations may come up with in this tropical paradise. $1,150,000 Last Sold Price. All rights reserved. A gated estate with 125 feet of beach frontage in Kailua, Hawaii, hit the market Thursday for $30.5 million, becoming one of the most expensive homes listed on the island of Oahu. Population: 10,921Rank Last Year: 21 (Up 20)Home Price To Income Ratio: 4.0x (most affordable)Income To Rent Ratio: 68.3x (33rd cheapest)More On Hawaiian Paradise Park: Real Estate|Cost Of Living. Although Kaneohe 's median home value of $627,500 is higher than the state average, its median household income - $81,907 - is well above the national average, making it an affordable option for many people. This incredible coastal house was built in 2004 and is located next to the famed Shangri La estate. 5. When you click through real estate links on our site, we earn an affiliate commission. Under his management, the venture-capital company has invested, quite successfully, in tech-based startups; its portfolio includes a grab bag of up-and-comers in software, healthcare and computer technology. But this is Hawaii, where property is expensive. There are two guest cottages, a wine cellar, media room, office, pool, and spa. Becky Bracken covers celebrity and other notable real estate for Realtor.com. However, these views come at a cost and drive the prices of properties in those areas sky high. Oahu, The most expensive city on the list has a typical home value of $3,779,877 which is 319% higher than the state average of $902,175. $2,400,000 Last Sold Price. This cost varies depending on the size, type, and location of the property. Browse through Hawaii cheap homes for sale and get instant access to relevant information, including property descriptions, photos and maps.If you're looking for specific price intervals, you can also use the . This property recently appeared on the market for the first time in more than 30 years. While Waimea has all the usual island-y things to do, it also hosts a number of farmers markets that pull folks from near and far. The .7-acre lot is assessed at $13.3 million. What To Know. The owner is yet another investment banker: Paul Stephens, the chairman and a partner of Stephens Investment Management, and the co-founder and managing director of RS Investments, a San Francisco-based management group that manages more than $7 billion in assets. You wont need to save up your coconuts very long to buy a home in Hawaiian Paradise Park, because the median home price here is $307,400, the lowest in the state by a very wide margin. Related: The sale price, which started out at $68 million in 2010 before it was . However, the median household income is $52,000. If you're planning on staying in hotels during your vacation, the answer to "how much is a Hawaii trip" is going to be: "expensive". We use data, analytics, and a sense of humor to determine quality of life for places across the nation. Japanese corporation Mint Yugen Gaisha picked this one up for $29 million in 2006, making it one of Hawaiis largest residential sales of the past decade. Population: 7,236. It sits on 7,065 sq meters, divided into three parcels along a 118 ft stretch of sandy beach. Learn more. The cost of living in Hawaii is 20.0% higher than the US average. Featured properties may or may not be listed by the office/agent presenting this brochure. Not only is the average the highest, but for that price, you get a fairly small property (averaging 1,309 sq. This year, Forbes ranked Michael Dell as the 37th richest person in the world, with a net worth of $13.5 billion. For this reason, look for a house that is elevated on the island. Artist Christian Riese Lassen is known for his paintings of vibrant oceanscapes and sparkling dolphins, and his Kapalua home is inspired by that Technicolor turquoise aesthetic. Larry Ellison doesn't just own a home in Hawaii he owns an entire island. Subscribe now to get our freshest tips and ideas delivered to your inbox. Take a half-hour drive through the middle of the island and youll arrive at Honolulu, the states capital and its biggest city. Rocky A/Flickr. The town represents the number 7 most affordable spot to live in the state. District of Columbia - $618,100. Antilia | Mumbai, India. Not willing to change her identity to be part of the industry, Mahina Florence is at the height of her career because of her flawless Hawaiian complexion, strong athletic build, and friendly aloha spirit. You can then compare these metrics in each of the places in Hawaii to figure out which is the least expensive. This property is right on the beach. While the competition was fierce, there can be only one number one most affordable to live in Hawaii for 2022. Hawaii, HI Luxury Homes For Sale 788 Luxury Homes & Mansions Available Tile Sort by Price (high to low) 30 4408 LAWAI RD, Koloa, HI 96756 3 Beds 4 Baths 2,786 Sqft 0.74 ac Lot Size Residential $30,000,000 USD View Details 22 123 Kailuana Loop, Kailua, HI 96734 8 Beds 11 Baths 11,545 Sqft Residential $29,420,000 USD View Details 15 Think of it this way: This 17,408-square-foot interior is almost half an acre of house. Hawaii is the most expensive state in the country to live in, according to World Population Review rankings. We incorporated elements of Christians art throughout the house, says architect Jeff Long. Owners Charles and Elizabeth Thieriot frequently rent the place out for extravagant vacationers. 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