James T. Morrison R(S)
Thoughts on Purchasing Commercial Property
When it comes to buying commercial property on the Big Island of Hawaii, there are a variety of options to consider. Each area of the island offers its own unique benefits and challenges for those looking to invest in commercial real estate. In this article, we will take a closer look at some of the key areas to consider when buying commercial property on the Big Island, including Kailua Kona, Hilo, Waikoloa, and Puna.
Kailua Kona is a popular destination for tourists and locals alike, and is known for its beautiful beaches, shopping and dining options, and outdoor activities. As a result, it is a prime location for commercial properties such as hotels, restaurants, and retail shops. The area has a strong economy and is home to a number of businesses and organizations, making it an ideal location for those looking to invest in commercial real estate. However, it is also one of the more expensive areas on the island, and competition for commercial properties can be fierce.
Hilo is the largest city on the Big Island and is located on the eastern coast of the island. It is a popular destination for tourists and locals alike, and is known for its beautiful beaches, waterfalls, and botanical gardens. Hilo is also home to a number of businesses and organizations, making it an ideal location for those looking to invest in commercial real estate. However, it is also one of the more expensive areas on the island, and competition for commercial properties can be fierce.
Waikoloa is a popular tourist destination located on the western coast of the Big Island. It is known for its beautiful beaches, luxury resorts, and golf courses. Waikoloa is a prime location for commercial properties such as hotels, restaurants, and retail shops. The area has a strong economy and is home to a number of businesses and organizations, making it an ideal location for those looking to invest in commercial real estate. However, it is also one of the more expensive areas on the island, and competition for commercial properties can be fierce.
Puna is a less developed area on the Big Island and is located on the eastern coast of the island. It is known for its beautiful beaches, waterfalls, and botanical gardens. Puna is a prime location for commercial properties such as hotels, restaurants, and retail shops. However, it is also one of the more expensive areas on the island, and competition for commercial properties can be fierce.
When it comes to buying commercial property on the Big Island, there are a variety of options to consider. Each area of the island offers its own unique benefits and challenges for those looking to invest in commercial real estate. In general, the more developed areas such as Kailua Kona, Hilo, and Waikoloa tend to be more expensive and have more competition for commercial properties. However, they also tend to have stronger economies and more businesses and organizations, making them ideal locations for commercial real estate investments. On the other hand, less developed areas such as Puna may be less expensive and have less competition for commercial properties, but they also tend to have weaker economies and fewer businesses and organizations. Ultimately, the best location for your commercial real estate investment will depend on your specific needs and goals.
In conclusion, buying commercial property on the Big Island of Hawaii can be a great investment opportunity, but it is important to carefully consider the location and potential challenges before making a decision. Kailua Kona, Hilo, Waikoloa, and Puna are all great options, each with its own unique benefits and challenges. It is important to do thorough research, consult with a real estate agent and take into account your specific needs and goals before making any decision.
