How has volcano eruption affected Big Island real estate market? (if any) (home, luxury)

[Open-D]

Originally Posted by Lodestone

Florida: economy consists of catering to tourists, retirees, and growing oranges.
Puna: economy consists of catering to tourists, retirees, and growing papayas.

So, totally different. It's like comparing papayas to oranges.

There are lots of other industries and business/commerce in Florida than what you state. It is broad and diverse and a net positive to the U.S. Puna, not so much.

I have no problem whatsoever with Agriculture and tourism in Puna. Great idea, all for it. Generate revenue, help people earn a living and better their sitch. My issue is what amounts to vanity bedroom developments on the flanks of a very active volcano. It is, dare I say, Insane. it is one thing to have a papaya orchard wiped out, but quite another to have hundreds of people's principle residences wiped out.

It is really simple to grasp. Some level of risk, balanced against the overall "reward" is acceptable, but beyond that, not.

[Lodestone]

Regarding Florida and new, relatively "hurricane proof" housing; lost my first two houses to Hurricane Andrew. The rubble was nice and new. Back in 1965, Hurricane Betsy grazed the SW coast and its storm surge cut Siesta Key in half (around midnight, earning the resulting waterway the name "Midnight Pass"). Us Florida natives like to bring that up when people talk about "hurricane proof" houses. Methinks the "hurricane proof" is more aspirational than actual, but I'll concede that newer homes might stand a better chance.

The Big Island's massive features and local jet stream patterns conspire to shear off the top of every hurricane that wanders our way. Lava flows come around every decade or two, but hurricanes show up every damned summer. I'm not going anywhere. If one of our many local USGS volcanologists pulls me aside and whispers: "GET OUT", I'll reconsider.

[Lodestone]

Originally Posted by Open-D

There are lots of other industries and business/commerce in Florida than what you state. It is broad and diverse and a net positive to the U.S. Puna, not so much.

As a Florida native, I dispute the notion that Florida is any sort of "net positive".

[Open-D]

Originally Posted by Lodestone

As a Florida native, I dispute the notion that Florida is any sort of "net positive".

Not going to touch that one with a 10-foot pole!!!!! It is, however, a bit "moist" for my taste.

[Arktikos]

Originally Posted by whtviper1

It really doesn't much matter if it is billions (literally only a few tornado's have caused billions in damage by the way)...

Sure, per ONE tornado. However, mean average annual loss to tornadoes in US over past 20 odd years is over 1 billion.

https://www.statista.com/statistics/...rnadoes-in-us/

[Open-D]

Originally Posted by Blind Cleric

Sure, per ONE tornado. However, mean average annual loss to tornadoes in US over past 20 odd years is over 1 billion.

https://www.statista.com/statistics/...rnadoes-in-us/

Okay, well lets carry your argument forward.

Just suppose there was a relatively small area, perhaps the size occupied by the various "neighborhoods" in Puna, and for some reason, that area was highly-prone to tornadoes, far more so than the other areas in the tornado belt.

Would it not be prudent for government to determine you can't set up neighborhoods there because of the extreme, highly-localized tornado danger? "We understand the land is cheap, but only because of the extreme propensity of tornadoes to wipe-out huge swaths in this highly-localized area of tornadic activity."

That is a much better comparison that using the entire tornado belt.

[Arktikos]

Originally Posted by Nyfinestbxtf

To play devils advocate, is the land still useful after the land has been inundated with lave? The land has no drastic change after a hurricane or tornado plows through.

It takes awhile. The Kona airport is built upon the 1800 Hualalai flow. Wasn't this issue raised previously? Someone shared photos of new homes built on fairly recent (1960) flows in Puna.

[Jonah K]

Originally Posted by Open-D

What's left afterwards, however, is not really "land". It is a crumbly, bumpy sheet of rock with voids and tubes and etc.

Apparently, some of those "crumbly, bumpy, sheets of rock with voids and tubes, etc." are worth something to someone...
Homesites - Kukio Golf and Beach Club. Kona, Hawaii luxury real estate development.

[Lodestone]

Let's break it down. You can buy a house in Puna at a third of the price of most places in Hawaii. Guesstimate that a given property has about a 1 in 10 chance of being destroyed by lava in your lifetime (your odds may vary).
If you're at a sportsbook and you're getting +300 on a bet you are going to win 90% of the time, you take that bet.

[Nyfinestbxtf]

Originally Posted by Jonah K

The land is still useful after being inundated with lava. For examples of what can be done, simply look at some of the projects that were built in Kona on top of the 1800-1801 Kaʻūpūlehu lava flow.

So basically it is like living on Mars after lava has come through your property.