Kilauea is a small beautiful town belonging to the Kauai County, in the state of Hawaii. It is located on the northern shore of Kauai. In Hawaiian, the name Kilauea means “much spreading” or “spewing”. It is a census designated place and shares its name with the famous active volcano, Mt. Kilauea. The total area is about 1.5 square miles. Kilauea has grown to become a picturesque town that attracts visitors and tourists from all across the globe. It is a peaceful, coastal town which serves as a getaway from busy, fast-paced city life. Senior citizens will find this quiet town to be a wonderful place to settle down after retirement to lead their life in peace, tranquillity and comfort.
Real estate in Kilauea has been going through a roller coaster ride. Over the past five years, the median sales prices have been dipping and increasing in a random fashion. They reached an all-time low in 2009 due to the country-wide real estate market crisis. Since then, it picked up momentum only to decrease again in the second quarter of 2010. The median sales price for homes increased sharply in the first quarter of 2011, only to decrease by over 45% in the second quarter. The median sales price is now $451,500. In comparison to the previous year, this represents a decline of more than 2%. Over the past five years, however, the median sales prices in Kilauea have decreased by almost 45%.
Real estate in Kilauea is undergoing a tough period. The number of sales, however, has increased in comparison to the first quarter of 2011, which is a welcome change. The realtors have responded accordingly, and the average listing price has therefore increased by 2%. The average number of listings has also increased. The average price per square foot now stands at $497. This is an increase of more than 30% in comparison to the previous year. There is thus a ray of hope for real estate in Kilauea as the overall US real estate market recovers, which makes Kilauea an optimistically safe location for long term investment.
There are a large number of brokers, lenders, and banks in Kilauea offering mortgages at different interest rates. In general, these interest rates depend on the principal loan amount, the number of years of expected interest payment, and the type of loan. The annual percentage rates vary from 3 to 4% depending on whether the loans are 15 year, 30 year or 40 year fixed type. With the recent increase in number of listings, and expected growth of real estate in Kilauea, it is expected that the mortgage rates will decrease further. It is, however, recommended that you compare and contrast the interest rates offered by different mortgage brokers before taking a call.
The people of Kilauea form a well-knit community and lead a peaceful life. They have a strong sense of heritage and culture and have a comfortable standard of living. Majority of the people are Caucasians and Asians. The crime rates are low.