How has volcano eruption affected Big Island real estate market? (if any) - Hawaii (HI) -The Island of Hawaii - Page 18 - City-Data Forum

Sand&Salt · 07-20-2018, 09:10 AM

Did they get completely obliterated? We stayed there for months, just loving the snorkeling, and I got tears in my eyes at the helicopter overview that seemed to show the whole subdivision being inundated.

This is just so sad.

nwcountrygal · 07-23-2018, 05:27 AM

Interesting reading the comments here. I live (d) 1000 ft from fissure 8. USGS and Hawaii Tracker FB has the best information if interested. My house is still standing. Property vaules are 0 chances on the LERZ of being able to rebuld is pretty much being told no, but no answer of compensation if condemation (which only takes a stroke of a pen by a judge it is county not state decision) or if go for enimanate domain which would take years. Us living this is just put in limbo, no FEMA no insurance $ no help. If interested in property values the insurance companies are not writing in Lava zone one or two. Example a couple this week wanted to buy property in Captain Cook and can not get insurance other than HIPA max is $300,000. Property is $500,000 unless pay in cash no sell. This will and is affecting island wide except North Kohala.

Nyfinestbxtf · 07-24-2018, 12:52 AM

Quote:

Originally Posted by nwcountrygal

Interesting reading the comments here. I live (d) 1000 ft from fissure 8. USGS and Hawaii Tracker FB has the best information if interested. My house is still standing. Property vaules are 0 chances on the LERZ of being able to rebuld is pretty much being told no, but no answer of compensation if condemation (which only takes a stroke of a pen by a judge it is county not state decision) or if go for enimanate domain which would take years. Us living this is just put in limbo, no FEMA no insurance $ no help. If interested in property values the insurance companies are not writing in Lava zone one or two. Example a couple this week wanted to buy property in Captain Cook and can not get insurance other than HIPA max is $300,000. Property is $500,000 unless pay in cash no sell. This will and is affecting island wide except North Kohala.

How is this affecting everything south of Kohala. You have no idea what you are talking about. Have you looked at the lava zone map? Would Kohala be more preferable in these times, yeah but I think most of LZ3 and above will be okay in our lifetime. I would rather live in LZ3 than on the coast of Florida or in tornado valley.

hotzcatz · 07-24-2018, 02:35 AM

It's not whether nwcountrygal has looked at the Lava Zone maps, it's if the INSURANCE COMPANIES have looked at the Lava Zone maps. They're the ones getting wonko on whether they will insure or not. If they won't insure, then the properties can only sell for cash and not with a mortgage.

People are getting whacko about the volcano. We had some friends visiting on Oahu and they wouldn't come over here to visit us since they were scared of the lava flow. We're in Lava Zone 8 and they're afraid to visit?

Nyfinestbxtf · 07-25-2018, 12:56 AM

Quote:

Originally Posted by hotzcatz

It's not whether nwcountrygal has looked at the Lava Zone maps, it's if the INSURANCE COMPANIES have looked at the Lava Zone maps. They're the ones getting wonko on whether they will insure or not. If they won't insure, then the properties can only sell for cash and not with a mortgage.

People are getting whacko about the volcano. We had some friends visiting on Oahu and they wouldn't come over here to visit us since they were scared of the lava flow. We're in Lava Zone 8 and they're afraid to visit?

Insurance companies are not writing coverages for LZ3?

nwcountrygal · 07-25-2018, 06:05 AM

At this time all Lava zone 1 and 2 which is over half the island including over have of Kona side also. Lava zone 3 they are continuing but changing the terms to peoples policies instead lets say $1000 deductible to 20% deductible. Example if you have a insured house of $200,000 now your property deductible is $40,000 not $1,000. And at renewal raising premiums in LZ3. Nothing in LZ1 or Lz2 now.

Hotzcatz exactly.

nwcountrygal · 07-25-2018, 06:18 AM

Nyfinestbxtf I am at this point 1000ft from fissure 8 still standing unlivable as gas will kill you. I agree it is safer here than Florida, or tornado alley. I chose my property by flow topography. It is safe. I never thought lava would go 25 miles underground and pop up doing 3 Olympic size swimming pools a second down hill, now up hill from me. Still safer though as far as standing. Never thought about the gas.

If back in 2014 LZ3 was where the lava was going to flow Not LZ1.

Arktikos · 07-25-2018, 07:45 AM

Quote:

Originally Posted by nwcountrygal

At this time all Lava zone 1 and 2 which is over half the island including over have of Kona side also...

It's not that much. All of Mauna Loa hazard zone 1 is at high elevation. So, there are no residences on Kona side in hazard zone 1, only in Puna. Many people don't realize how much of Kona side is in hazard zone 2 though, such as your example of Captain Cook.

The statement about never thinking that the lava could go underground and pop up nearby indicates a surprising lack of understanding regarding the nature of hazard zone 1, aka the rift zone, given that you have property near, or in, it.

All of Puna is in zone 1, 2 or 3, and none of it is safe from lava flows, regardless of topography.

Arktikos · 07-25-2018, 07:53 AM

Quote:

Originally Posted by Sand&Salt

Did they get completely obliterated? We stayed there for months, just loving the snorkeling, and I got tears in my eyes at the helicopter overview that seemed to show the whole subdivision being inundated.

This is just so sad.

Yes, and it all happened so quickly. The nicest part of the island is gone.

terracore · 07-26-2018, 08:35 PM

This is a cross post from punaweb.org (similar named thread)

According to one East Hawaii realtor, the real estate market in Puna is red hot:

"We already had a housing shortage for quite some time, and it's gotten worse. We have a lack of inventory, a lack of supply, a great demand. We're seeing prices going up, sales happening faster, more multiple offers. Especially in housing under $400,000 dollars, that's the greatest demand. Anything around $300,000 dollars gets snapped up. We're talking how many hours is it on the market, versus days."

http://www.hawaiipublicradio.org/post/lava-s-real-estate-impact