Cost of construction, selling and buying real estate in the islands has continued to increase based on the requirements to meet the current regulations, materials, and service cost increases. One could say that it costs more and takes longer to comply with the various regulations that govern the real estate and related construction industries.

Based on the County’s medium home price of $862,500 during the last 12 months, a cash buyer will spend an average of $24,000 in basic closing costs; that includes their half of escrow, title insurance for their lender, recording fees, 1% land bank tax, ½% affordable housing tax and home inspection fee, but it doesn’t include the prorated taxes, insurance, homeowner’s dues, OR ANY loan closing costs or well water testing.

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