January 29, 2016||Mortgages/Economy/Market

In Review: 2015 Hawaiian Paradise Park Market Update

Homes Sold in HPP in 2015

2015: In Review

As we look back over 2015, it’s fair to say that, in many ways, it was a much calmer year for the Puna district residents than 2014. No hurricanes approached the island as closely as Iselle did in August 2014 and the lava flow that had been approaching Pahoa town finally came to a halt in March. The community breathed a collective sigh of relief as we got back to normal routines without daily Civil Defense updates about the flow. Today, there is a positive, upbeat attitude among residents and plenty of new construction projects are in the works.

As we enter 2016, sellers and buyers alike want to know how the Puna real estate market is looking in the new year, so let’s take a look at Hawaiian Paradise Park, the 2nd largest subdivision in the United States, to see what the data shows.

Hawaiian Paradise Park 2015 Market Trends

HPP is in Lava Zone 3 (outside the geographic area where the lava flow has occurred in the past). In 2015, we saw more homes sold each month (year-over-year) with the exception of February.  The total number of HPP homes sold in 2015 was 215 compared to 169 sold in 2014. This is a trend that we believe will continue as the pace of construction continues to pick up and the rental market remains healthy.

This chart shows the median sale price trend for the year:

Hawaiian Paradise Park 2015 median sale price

HPP Market Snapshot as of 1/29/2015

  • There are 102 listings for sale as of 1/29
  • There are 51 homes in escrow as of 1/29
  • 15 homes have closed escrow since 1/1

To see all HPP homes currently for sale click here.

What’s New in the Park for 2016?

Checking in with the Hawaiian Paradise Park Home Owners’ Association, I found that HPPOA is working on leasing property at 26th Ave and Kaloli Drive to the County to put in a brand new park for families to enjoy. Residents are looking forward to this much-needed addition to the subdivision. Another positive addition to the Park at the Hui (16th Ave. and Makuu Drive), playground equipment has been ordered which is wonderful news for our keiki and parents alike!

On the HPPOA website, you can find a schedule of classes and events for each month including exercise, Hula and Mah Jong. The Activity Center is available for rent at an affordable price for parties and offers a full kitchen, tables and chairs, a stage and plenty of parking.  All fees are shown on the HPPOA site.

Ready for a Tour?

Hawaiian Paradise Park (also known as HPP or The Park) was established in 1960 and is located approximately 14 miles from Hilo and 6 miles from Pahoa town. HPP is the second largest subdivision in the U.S., running from the top of Hwy 130 to the ocean, covering 15.2 square miles with 137 miles of roadway. The style of homes in Hawaiian Paradise Park varies from simple rustic studios to elegant oceanfront mansions. One of the best features of HPP is the climate with the average temperature of 80 degrees. Occasional passing showers create a lush tropical environment perfect for gardening or even orchid farming. If you would like to see available properties in HPP, please contact me.


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