May 11, 2016||Big Island: Market Trends

Affordable Hawaii: Condos Priced Under 250K in North Kona

The Hawaiian Islands generally have a reputation for being a sunny utopia that comes with the price of a high cost of living–the proverbial “paradise tax.” Luckily for us on the Big Island, real estate prices are the most affordable in the state. Sun-seekers on a more frugal budget need to look no further than the various condo options in beautiful North Kona to get a taste of their options, including condos for sale for $250,000 or less, many with maintenance fees of under $500 a month!

North Kona Condo Market Update

In the past year, a total of 144 condos have been sold in North Kona ranging from $29,000 (leasehold) to $250,000 (fee simple). Good examples of these affordable condo complexes are Kona Mansions V, Kona Plaza and Seascape Condominiums, all close to the ocean, shopping and entertainment of Kailua-Kona.

Is a Condo Right for You?

Preparing to live the island lifestyle you may be dreaming of requires a lot of important decision-making, including whether condo ownership is right for you and your family. If condo living is new to you, there are pros and cons that must be weighed. One of the most appealing benefits of condo ownership is minimal maintenance, meaning you can spend your weekends surfing and watching incredible sunsets instead of trimming bushes and mowing the lawn. Another is access to amenities such as swimming pools and workout facilities, without the responsibility of maintaining those things yourself.

While condos can offer more affordable alternatives in the Kona area than single-family homes, condo living can also come with some restrictions. Your REALTOR® can give you information about the various  HOA (Home Owners Association) rules for the complexes you are considering as a future home. If you go in armed with a good list of questions (especially if you own or plan to buy a boat!), you may save yourself some headaches over the long run.

*Note: condo maintenance fees are subject to change. Please contact a local real estate professional to verify the most current information.

*Pictured above is MLS 294406, located in Kona Mansions V.


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