Molokai Property Market and Real Estate Guide
(Molokai, Hawaii - HI, USA)
Located due east of Maui, Molokai is the remotest of the Hawaiian Isles. Of all the public islands, it has the most rural, even old-Hawaii atmosphere, and the percentage of indigenous Hawaiians living here is high.
By Hawaiian standards, property prices in Molokai can be relatively low. There are few facilities, and most of the non-native Hawaiians living here are enraptured by the low profile they can keep in this Hawaiian backwater. There are no resorts or any high-rise construction on this island.
As an indication of the disparity of real estate prices, the median sale price is barely over a very low six-figure sum across most of the island, while the average sale price is around a mid six-figure sum. With this in mind, buyers will find a solid base of affordable properties, along with a few ultra-exclusive coastal villas and mountain estates with exceptionally high sticker prices.
Renting Serviced Apartments
Serviced apartments aren't nearly as common in Molokai as they are in places like Oahu, Maui
or even the Big Island
. That said, it is possible to find furnished rental units across the island, especially around the communities of Maunaloa, Hoolehua, Kualapuu and Kaunakakai.
The serviced units that are available are mostly close to the airport or else completely removed to the countryside. In either case, guests don't have access to much in the way of shared facilities, but they do enjoy spacious, fully furnished quarters. In most cases, a cleaning service can be chartered for an additional fee. Deposits and monthly commitments may be in order.
Buying Apartments and Houses
The best selection of properties on Molokai is on the southern coast, with a few more options in the arid west. There is relatively little available on the undeveloped north coast. It is imperative that potential buyers spend time exploring the island and consulting with a local realtor, as facilities are sparse on this unique Hawaiian island.
Closing costs for buyers in Hawaii top out at more than two percent of the sale price, which, while high by US standards, is relatively low for the international real-estate market. This is inclusive of title work, as well as loan origination, so buyers paying cash are faced with even fewer additional charges.
Real Estate Agents
Finding a reliable real estate agent is important for off-islanders. It is best to work with those who have substantial experience on the island, as these agents are more likely to offer sound advice rather than putting you in the first available property. Consulting with a lawyer is also smart, as much of the land in Hawaii is leasehold and cannot be purchased indefinitely.
Check out the following Molokai realtors and real estate agents:
Molokai Land and Homes LLC
Address: 1101 Kepuhi Place, Suite 1101, Maunaloa, Hawaii HI, 96770, USA
Tel: +1 808 552 2233
Email: via website
Operated by Jill McGowan, this agency has several years' experience on the island and is located on the west coast.
Friendly Isle Realty
Address: 75 Ala Malama Street, Kaunakakai, Hawaii HI, 76748, USA
Tel: +1 808 553 3666
Friendly Isle Realty has been in business for two decades and can offer counsel on buying homes or condominiums, as well as arranging timeshares on Molokai.
Molokai Realty Inc.
Address: 2 Kamoi Sreet, Kaunakakai, Hawaii HI, 96748, USA
Tel: +1 808 553 9000
Email: via website
Molokai Realty Inc. has an extensive portfolio of residential and commercial land in Molokai, including condos and rental properties.