Hello Leilani Residents (Hilo, Leilani Estates: estate, vacation, work)

[caseykm28]

Aloha

Some time ago, I inherited an acre which is in Leilani Estates. Searching the internet it seems as though acres in Leilani Estates range from $50,000 up to $85,000. I did see a lot that was priced around $38,000. I do not understand why is there such a price difference across the subdivision. My lot sits on Kahukai st. on the north east end. It is "pretty much" directly north of Kaupili st. and Kahukai st. intersection. I have owned this property for the last twelve years and have yet to see it. On realtor.com, I have seen properties on this street marketed at 65,000 or so. But also, on the same street, i have seen a price of 35,000. Can anybody explain this to me? Are all the lots in Leilani comparable to one another? I would appreciate any comments. Thanks again. Aloha
Kenny

[Jonah K]

Originally Posted by caseykm28

Aloha

Some time ago, I inherited an acre which is in Leilani Estates. Searching the internet it seems as though acres in Leilani Estates range from $50,000 up to $85,000. I did see a lot that was priced around $38,000. I do not understand why is there such a price difference across the subdivision. My lot sits on Kahukai st. on the north east end. It is "pretty much" directly north of Kaupili st. and Kahukai st. intersection. I have owned this property for the last twelve years and have yet to see it. On realtor.com, I have seen properties on this street marketed at 65,000 or so. But also, on the same street, i have seen a price of 35,000. Can anybody explain this to me? Are all the lots in Leilani comparable to one another? I would appreciate any comments. Thanks again. Aloha
Kenny

During the past year, the price of lots in Leilani Estates and other subdivisions in Puna reached a peak. Some of the higher-priced lots were first listed during the peak and their asking prices haven't been reduced to reflect the current market. With the exception of a few lots on Malama St. that have a slight ocean view, a few odd 1.14 acre lots, a number of "square" lots, some "cleared" lots, and a number of coqui frog and Albizia tree infested lots, most of the lots on any single street in Leilani Estates are fairly comparable. In current market, most lots in Leilani Estates will probably end up selling for around $40,000.

[leilaniguy]

I have lived in Leilani Estates for over seven years. I agree with what Jonah K says, prices soared in '04,'05, have been dropping all this year, as all over Puna. Anyone asking $85K for a vacant lot is a wishful thinker. Also, any location near Kaupili St. is very close to the geothermal plant, (loud recurrent drilling noise, and the fear of hydrogen sulfide blowouts and emissions, which is an issue for many buyers, also the source of complaints from residents). Much of the east end of Kahukai also is forested in huge Albizia trees, which are a dangerous liability that can cost several thousand dollars to eradicate. At least half of Leilani is infested with coqui frogs, I expect the entire subdivision will soon be overrun. Still, it's my choice of places to live.

[caseykm28]

Leilaniguy and JonahK....thanks for both of your responses.
JonahK...what subdivision are you living in?
Leilaniguy, I read in the Leilani Community newsletter that there are problems with the Albeiza trees destroying some sections of road. Do you know how this is going to be handled? My lot, which i am concerned about, was inherited so i have never seen it. My parents bought this lot back in the mid seventies. Would it be worth selling this lot and maybe buying one further west on Kahukai st. I have heard everyone rave about the quality of life in this subdivision. Also, I know that this subdivision is in hazard zone 1. Someone I chatted with said that Leilani is in a dangerous area. Can you elaborate on some of this? I'm just trying to understand the Puna area more so that when i come to visit, I have a better understanding.

[Jonah K]

Originally Posted by caseykm28

Leilaniguy and JonahK....thanks for both of your responses.
JonahK...what subdivision are you living in?

I have houses and/or land in Leilani Estates, HPP, HSRE, Kapoho Vacationland and a few other subdivisions in Puna.

Originally Posted by caseykm28

My lot, which i am concerned about, was inherited so i have never seen it. My parents bought this lot back in the mid seventies. Would it be worth selling this lot and maybe buying one further west on Kahukai st. I have heard everyone rave about the quality of life in this subdivision. Also, I know that this subdivision is in hazard zone 1. Someone I chatted with said that Leilani is in a dangerous area. Can you elaborate on some of this? I'm just trying to understand the Puna area more so that when i come to visit, I have a better understanding.

Overall, it's probably not worthwhile to sell your lot and purchase another one in Leilani Estates, since you'll probably lose 5-6% of the value in commissions as well as trigger a possible capital gains liability. In addition, any replacement property that you purchase in Leilani Estates will probably have a higher tax assessment than your current lot.

All of the Big Island is a Lava Zone hazard area; however, the true hazard of any particular area is dependent upon several factors eg. topography, distance from vents, etc. In other words, some parts of a "lava zone 4" area can have a greater risk of being inundated by lava than parts of a "lava zone 1" area. The last flow that endangered Leilani Estates (aka "Keahialaka") was in 1955 and it came within a few hundred yards of modern-day Malama Street. The 1984 eruption of Mauna Loa sent lava within 4 miles of Hilo. The recent earthquakes over on the Kona side are probably more dangerous than any potential lava flows inundating Leilani Estates.

[leilaniguy]

Again I agree, if you swap lots, there will be capitol gains to pay, if you keep your lot, you may pay $10,000 or more to eradicate Albizias, or nothing, depending on conditions on your particular lot, that's why it is important that you come see for yourself just what you own. Leilani is all in Lava zone 1-highest risk, but then again all homes and businesses burned in the current eruption were in zone 2 (supposedly less risky). We are in the east rift, which comprises all the Puna ridge from Kilaeua volcano to Puu O'o, through the Wao Kele O' Puna forest, down through Leilani Estates, on to Lanipuna Gardens, then all through the Kapoho district and down to Cape Kumakahi and on under the sea. The volcanos Puu Kaliu and Kiapu crater are inside the subdivision and Puulena crater is just east. There are active steam vents in these craters and frequent small earthquakes, FYI. I came here from southwest Oregon, and I consider living here equal to, or even less hazardous than living there. It isn't something I or my neighbors give much thought to, after all, we're Punatics.

[foow]

Aloha,

Can someone pls tell me, in Puna area, where would be my best bet for a good size lot, with not too much rain, and the least amount of B52s.

Baby boomer trying to work my way back to the islands. Don't know Puna side and prices seem to vary a lot.

Mahalo!

[leilaniguy]

Puna is famous, infamous? for it's rain, but there are drier areas in lower HPP, about 8th Ave. and below, 1 acre lots. It is fairly dry in lower Kapoho and southwest along the coast towards Kalapana, but the subdivisions in this area are smaller city-sized lots. The only other available land is in much larger agricultural parcels at high prices. Unfortunately plenty B52's in all these areas, they love the weather too.

[Jim50chevy]

My name is Jim Bryan I have made an inquiry of a lot there. 13-1091 Malama St., I am retired, 56 years old & single. An old Marine. Could someone tell me anything about this lot. I've got a 1950 Chevy truck that will bring, it is a Hot Rod. Thanks, Jim

[leilaniguy]

Aloha Jim, I PM'ed you about the lot. To keep your truck in good shape you should consider a fully enclosed garage rather than a carport, because even here, 6-7 miles inland we get salt air, also occasional hydrogen sulfide from the volcano, eats at paint and metal. Puna, and Hawaii in general is very hard on vehicles, but there are some nice looking classics here, plenty wax and TLC.