East Hawaii Real Estate Market Update: March 2025 Trends & Insights

📍 Spotlight on East Hawai‘i: Puna, Hilo & Surrounding Areas

Welcome to your March market update from Team Alaka‘i! This month, we’re focusing on the East Hawai‘i real estate market, where Puna, South Hilo, and North Hilo are showing some compelling trends. Whether you’re thinking of buying, selling, or investing, here’s what you need to know.

🔍 Big Picture: Island-Wide Overview

Before we zoom in on East Hawai‘i, here’s a quick look at the island-wide market:

🏠 Total Sales: 402 homes (+3.3%)

💵 Sales Volume: $332.5M (+32.6%)

📊 Median Home Price: $630,000 (+5.9%)

Residential activity is heating up across the island, with strong gains in both volume and value. Condos saw a slight dip in sales, and vacant land trends were mixed depending on the district.

🌴 East Hawaii Real Estate Market Update: Highlights by Region

Let’s dive into what’s happening in the East Hawai‘i real estate market, specifically in Puna, South Hilo, and North Hilo—three districts with growing interest and unique opportunities.

🌋 Puna: Steady demand + affordable options

✅Home Sales: 68 (+23.6%)

🏷️Median Price: $382,500 (+6.3%)

🌱Vacant Land Sales: 111 (+0.9%)

💰Median Land Price: $38,000

Puna continues to be one of the most active and affordable areas in the East Hawai‘i real estate market. Home sales are up nearly 24% year-over-year, and land sales remain steady with small gains. This makes Puna a compelling choice for first-time buyers and investors.

Why it matters: Puna offers value for first-time buyers and investors alike. With demand holding strong and prices inching up, this is a great time to consider your options in subdivisions like Hawaiian Paradise Park, Ainaloa, and Fern Acres.

🌧️ South Hilo: Balanced, with strong land value growth

🏠 Home Sales: 23 (+15%)

💵 Median Price: $569,000

📈Condo Sales: 7 (+40%)

🌄 Vacant Land Sales: 2 (down from 8)

💰Median Land Price: $389,250 (+51.4%)

South Hilo shows solid growth in residential and condo sales within the East Hawai‘i real estate market. The steep increase in land value suggests a shift in buyer priorities—with more interest in centrally located and buildable lots.

Why it matters: With proximity to schools, shopping, and medical services, Hilo remains a top choice for long-term living. The jump in median land price suggests that buyers are looking to build or invest in well-located parcels.

🌿 North Hilo: Small market, big value jump

🏠 Home Sales: 2 (up from 1)

💵 Median Price: $1.93M (up 413%)

🌱 Land Sales: 1 (flat YOY)

💰 Median Land Price: $630,000

The North Hilo section of the East Hawai‘i real estate market remains niche but powerful. Buyers looking for luxury rural properties with privacy, acreage, and views are beginning to target this area with greater interest.

Why it matters: This is a niche but growing luxury market. If you’re looking for quiet seclusion with long-term upside, North Hilo is worth a closer look.

💡 What This Means for You

👩‍🎓 Buyers: The East Hawai‘i real estate market remains the most affordable region on the island. With modest price increases and available inventory, it’s an ideal time to enter the market before values climb further.

🏡 Sellers: If you own property in Puna or Hilo, now is a great time to list. Buyer activity is strong and median prices are rising, especially in areas with move-in ready homes or quality lots.

💼 Investors: There’s growing opportunity in East Hawai‘i real estate, particularly in land-heavy districts like Puna and upscale properties in North Hilo. Look for buildable parcels or value-add opportunities to maximize returns.

🤙 Final Thoughts

Whether you're buying your first home or investing in land, the East Hawai‘i real estate market offers unique opportunities in every district. East Hawai‘i continues to show its strength with accessible pricing, consistent demand, and long-term opportunity. From affordable homes in Puna to appreciating land in Hilo, the East Hawai‘i real estate market offers something for every type of buyer, seller, or investor.

Click the banner below to schedule a FREE consultation with Team Alaka‘i — let’s talk about your goals and how to navigate this evolving market with confidence.