As one of the most expensive places to own real estate in the United States, Hawaii land for sale tends to fetch hefty price tags. The state’s 132 islands feature a variety of terrain and property types, but in general, residential land prices run about $300,000 to $700,000 per acre, with high-end coastal lands costing significantly more. In addition, the state’s limited housing supply and booming tourism economy drive up land values.
Some sellers decide to sell their Hawaii acreage for a number of reasons. Maybe they bought it with a long-term strategy in mind but their plans changed, or they inherit a plot of land and want to cash out. Whatever the reason, selling land is a complex process that requires a deep understanding of current market trends.
When it comes to the nuances of Hawaii land sales, many sellers don’t know what to expect. They may assume their local agent will handle everything from securing a buyer to closing the deal, but if the land is not in a developed area or not yet able to support a home, it might be difficult to find a suitable buyer. Plus, a typical real estate commission of up to 10% can drain profit potential even before a deal is made.
The first step to Selling land in Hawaii is determining your financial goals. Are you looking to turn a quick profit, or do you want to downsize your expenses and live in a more affordable community? Once you understand your motivations, it’s time to start planning your selling strategy.
To maximize your chances of selling your Hawaii acreage quickly, take the time to create an in-depth listing that captures all the relevant details. Include information on the location and specific dimensions, existing structures, zoning, utilities, and any special features like ocean views or an abundance of wildlife. Ensure your listing includes professional photos to showcase the property’s appeal, and be transparent about any challenges like off-grid living or remote access.
Another effective way to sell your Hawaii acreage is to network locally and promote the property through word of mouth. Post your listing on sites like Facebook Marketplace and Craigslist in the “real estate” or “land for sale” sections, and refresh the listing regularly. Be sure to leave ample time between an accepted offer and the closing date to allow for inspections, mortgage approvals (if financing), and escrow procedures.
If you’re ready to move on, consider working with a we buy land company that can purchase your property directly for cash. This type of transaction is less complicated than working with a retail buyer who will require multiple inspections, an appraisal, and more time in the closing process.
Finally, be aware that if you realized a profit on your land sale, you may be liable for capital gains taxes, depending on your income level and length of ownership. Consult a tax professional to determine how much you might owe after the sale is completed.