There is no better time to be on the lookout for real estate bargains, especially for land in some of the most desriable locations like Hawaii. The Aloha State has become a desirable place for vacation and retirement homes over the years. The Big Island of Hawaii actually offers more land area than the other islands combined, and there are some very nice areas of widely divergent weather and geography. Here’s a source for a discussion comparing differences in climate, water temperature and other factors between Hawaii and California.
On the rainy side is the historical town of Hilo. There is a reason that this area feels so tropical; it rains nearly every day. The major county government departments have their headquarters in Hilo. There are many qualified real estate agents in Hilo and they can show you the best Big Island real estate on the wet side of the island.
One of the other districts on Hawaii Island is Kona, on the dry side of the slopes. Because of the direction of trade winds, much of the moisture is squeezed out of the incoming air when it passes over the numerous volcanoes. Consequently the Kona side is much drier. The sunnier climate tends to draw people, especially vacationers, to the dry side of the island, although Hilo has a substantial permanent population of residents.
With Kona coffee orchards common at higher levels and many parcels offering amazing ocean views, you can find hundreds of Hawaii land options in this slow economy. It is possible to find large estate homesites at prices that are way below the peak in 2006. The feeling is different on the Big Island compared to Maui, Oahu or even Kauai. This might be a good time to look at Kona real estate if you are in the market for a second home.