Buying Your New Home on the Big Island
Before you can begin to search for a new home, you need to determine your budget and estimate how much you can afford. One of the most important factors in figuring out your financial budget is getting pre-approved for a mortgage.
Here are the financial steps you’ll need to take to guide you towards your new home.
1. Calculate Your Budget
Knowing your budget upfront can save you time when searching for your home.
2. Apply for a Mortgage
This is where you will fill out mortgage paperwork and/or loan applications.
3. Obtain Pre-Approval
The pre-approval will determine how much of a mortgage you are eligible for and your budget.
4. Search Begins
I will send you multiple listings that fit your preferences and show you the houses you are interested in.
5. Make an Offer
You choose your home, and we will send an offer to the seller.
6. Escrow Opens
Lender provides estimated closing costs, requests an appraisal, a credit report and verification of employment and assets.
7. Property Inspection
Home inspections are used to provide an opportunity to identify any major issues with a home prior to closing.
8. Sign Final Closing Docs
Lender disburses funds to closing agent. Appropriate documents recorded at local recorder’s office.
The Big Island Landscape
On the Big Island there are two active volcanoes, Kilauea and Mauna Loa.
Mauna Loa is the largest active volcano on the planet, but has not erupted since 1984.
Kilauea ranks among the world’s most active volcanoes and its eruptive activity has been continuous along the East Rift Zone.
Please see updates here from USGS – Hawaiian Volcano Observatory.
However, don't let this deter you as there regions on the Big Island that are considered less hazardous than others. Check out Lava Hazard Zone Map on the maps page.
Water & Sewage
Another unique feature of houses on the Big Island are catchment tanks and cesspools or septic tanks, that you need to consider.
Most homes in Hilo and Kona are connected to municipal water systems. The majority of homes in Puna District or some other areas need catchment tanks.
Sewer connected homes are still in limited areas on the east side of the island.