"This feels like 'Old Hawaii'" is a statement we often hear when someone “discovers” Puako Beach on the beautiful Big Island of Hawaii for the first time. Don your pareo, we’re going back in time with recently sold property prices as well.
New Oceanfront Listing in Puako—coming soon!
While the first quarter volume of 2010 shows improvement over 2009 for Puako Beach sales (no sales in Q1 2009), prices have continued to decline. Two second floor condo units sold for $275k and $225k. At the market high, these units would have traded from $400-500k.
There haven’t yet been any mauka (mountain) side properties sold in Q1, but as far as oceanfront property sales go, we’ve seen one 750 sq ft traditional beach cottage conveyed for $1.8M and a bare oceanfront parcel sold for $1.6M. Um. Wow.
These are 2001-2002 prices, peeps. Have we hit the bottom yet?
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