How has volcano eruption affected Big Island real estate market? (if any) (Honolulu: fit in, mortgage)

[Nyfinestbxtf]

Originally Posted by Jonah K

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.

Yikes! The views are definitely several million dollar views.

[hotzcatz]

There was something on the news the other day about the houses lost to the lava. There was something about only 194 or so of them were principal residences. Which would then mean that a lot of the structures lost were second homes or BnBs and such. Kinda makes sense since we've not been deluged with displaced folks. There's been some, of course, but not as many as if all the structures lost had been primary residences.

A lot of orchid farms (gotta get the orchids from somewhere to stick in all those mai tais, ya know) and papaya fields were lost. Which means job and income lost.

Actually, considering that even a vacant second home or BnB isn't lived in, it still needs folks to do the yard work and clean them between visitors. So the loss of second homes and BnBs also is a loss of jobs and income.

As for the results of the lava on real estate around here, I'd guess it's kinda depressed it. I went to the tax land auction yesterday and there weren't that many people there. When real estate is busy, sometimes there's standing room only. This time there were even empty chairs.

[Grassyknoll]

LOL, those defending Florida in comparisson to LZ1 & 2 are killing me. Okay, let's compare apples to apples here.
The entire Florida Keys are comparable to LZ 1 on the Big Island. No rational person, advocating disallowing building in LZ1 could, with even a bit of credibility argue that the entire Florida Keys shouldn't also be off limits. The history of property damage and loss of life for the Keys due to hurricanes and the future potential for the same make what has occurred in LZ1 (and is likely to in the future) pale in comparison. And the Keys are also pretty much just retirees and tourists with no "real" reason for habitation.
Full disclosure, I love the Keys, visit often and would have bought and moved there if the hurricane risk weren't so great.

And regarding uninsured dwellings destroyed by lava. Some could argue that is actually a good thing as those people are bearing the full weight of their decisions and insurance rates and insurers won't take a hit that will be passed on to policy holders.

[Open-D]

Originally Posted by Grassyknoll

LOL, those defending Florida in comparisson to LZ1 & 2 are killing me. Okay, let's compare apples to apples here.
The entire Florida Keys are comparable to LZ 1 on the Big Island. No rational person, advocating disallowing building in LZ1 could, with even a bit of credibility argue that the entire Florida Keys shouldn't also be off limits. The history of property damage and loss of life for the Keys due to hurricanes and the future potential for the same make what has occurred in LZ1 (and is likely to in the future) pale in comparison. And the Keys are also pretty much just retirees and tourists with no "real" reason for habitation.
Full disclosure, I love the Keys, visit often and would have bought and moved there if the hurricane risk weren't so great.

And regarding uninsured dwellings destroyed by lava. Some could argue that is actually a good thing as those people are bearing the full weight of their decisions and insurance rates and insurers won't take a hit that will be passed on to policy holders.

OK, you win. I'm convinced. At the first whiff of sulpur I'll start advocating for them to closed down, residence-wise. Mind you, the very FIRST whiff!!!

[Grassyknoll]

Originally Posted by Open-D

OK, you win. I'm convinced. At the first whiff of sulpur I'll start advocating for them to closed down, residence-wise. Mind you, the very FIRST whiff!!!

Ummmm, having lived in Florida for a year, you best start making those calls D boy. Ever turned on a spigot in Florida? Most of the water smells of sulpher

[whtviper1]

Originally Posted by Grassyknoll

The entire Florida Keys are comparable to LZ 1 on the Big Island. No rational person, advocating disallowing building in LZ1 could, with even a bit of credibility argue that the entire Florida Keys shouldn't also be off limits.

I don't understand that argument.

If I owned a place in the Keys - I've got a decent chance at no damage or little damage during a hurricane - I'd have a place with Hurricane Shutters that protect against a category 5 storm. Even if I didn't - I still have a decent chance at little or minimal damage depending on wind angle, etc.

But fine, I get damaged. I've likely got insurance.

Anyway, hurricane hits me - I still have a chance. If I'm damaged - easy to rebuild. The Keys are essentially rebuilt - open for business. Vacationaland - not so much.

Lava hits me - I have zero chance.

[Grassyknoll]

Originally Posted by whtviper1

I don't understand that argument.

If I owned a place in the Keys - I've got a decent chance at no damage or little damage during a hurricane - I'd have a place with Hurricane Shutters that protect against a category 5 storm. Even if I didn't - I still have a decent chance at little or minimal damage depending on wind angle, etc.

But fine, I get damaged. I've likely got insurance.

Anyway, hurricane hits me - I still have a chance. If I'm damaged - easy to rebuild. The Keys are essentially rebuilt - open for business. Vacationaland - not so much.

Lava hits me - I have zero chance.

Yes, you could rebuild, unless you are dead. Hundreds have died from hurricanes in the Florida keys. How many have died over in Vacationland (hint, it rhymes with nero). There is a reason they try to evacuate the entire Keys when a hurricane is immenent. If you don't understand the argument, it is simply because you don't want to.

[whtviper1]

Originally Posted by Grassyknoll

There is a reason they try to evacuate the entire Keys when a hurricane is immenent. If you don't understand the argument, it is simply because you don't want to.

Uh, I get the argument - they also evacuate areas about to be overrun by lava. If I have a hurricane coming I'd evacuate.

I'm struggling with the point. Both are bad. One can be rebuilt relatively easy - one cannot. One is mostly insured. One is not (or ever will).

[Open-D]

Originally Posted by Grassyknoll

Ummmm, having lived in Florida for a year, you best start making those calls D boy. Ever turned on a spigot in Florida? Most of the water smells of sulpher

Is it not obvious that the whiff of Sulphur I referred to would be airborne, NOT waterborne?

[Arktikos]

Originally Posted by whtviper1

I'm struggling with the point. Both are bad. One can be rebuilt relatively easy - one cannot. One is mostly insured. One is not (or ever will).

Mostly insured. Yeah, I wonder how long that will last. Just one more big hurricane could collapse the market in Florida, which is already partially subsidized by the state government.