The story of this market
The typical home in ZIP 96778 sells for about $295,000, or $238 per square foot.
Prices are down 24.7% from a year ago, which gives buyers more room to negotiate. Homes take about 88 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,850 a month.
ZIP 96778 — Pahoa
The Pahoa 96778 housing market is currently experiencing a cooling phase with a significant year-over-year price decline of 24.7%. High inventory levels and a severe payment burden for residents are driving a buyer's market, though the area remains challenging for investors due to maintenance and insurance risks. Figures for specific metrics like vacancy rates and precise tax-burden breakdowns were not available at the ZIP level.
This ZIP is best suited for local investors with deep market knowledge who can manage the specific maintenance and turnover challenges of the area, rather than passive or out-of-state buyers.
Median prices moved down 24.7% year over year.
Homes spend a median of 88 days on market with 23.6 months of supply — a slower-moving market.
16% of listings have cut prices · homes sell at 94.5% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.5% · poverty 34.7% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 96778, Hawaii County, HI
The area faces significant volcanic hazard risks due to its location on the Big Island, which influences insurance availability and premiums.
Economic momentum is limited; the area functions as a local-operator market with a low-cost entry point that requires significant local knowledge.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Hawaii) — Real Property Tax: Tax is calculated by applying county-specific tax rates to the assessed value of the property. The formula is (Assessed Value - Exemptions) * Tax Rate. Exemptions include homestead exemptions for owner-occupants, which vary by county.
Residents are highly car-dependent, with long commutes typical for those traveling to Hilo or other employment hubs on the island.
The area features proximity to Pahoa Village, local farmers' markets, and access to coastal parks and volcanic landscapes.
The rental market is characterized by high maintenance requirements and a need for hands-on management, with a significant presence of local-operator investors.
The local economy is largely driven by agriculture, tourism, and small-scale local services, with limited large-scale industrial or corporate presence.
Public transit is extremely limited; the area is almost entirely reliant on private vehicle transportation for all needs.
Development is largely restricted by volcanic hazard zones and rural zoning regulations, limiting large-scale infrastructure projects.
The Hawaii County Real Property Tax Division manages assessments, which are updated annually based on market conditions.
Parcels are subject to Hawaii County property taxes and standard state-level utility and service districts.
Property insurance is difficult to obtain and expensive due to the high risk of lava flow and volcanic activity in the Puna region.
Data retrieved from Census Bureau and World Population Review profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Countryside Cafe (Kea'au Location)4.514.7 mi
- Hōlei Sea Arch4.78.6 mi
- Kīlauea Iki Trailhead-lava tube4.812.4 mi
- Kīlauea Iki Overlook4.912.7 mi
- Pu‘uloa Petroglyphs4.59.4 mi
- Lava Tree State Monument4.310.8 mi
- Nāhuku Lava Tube4.612.3 mi
- Volcano Art Center Gallery4.713.7 mi
- Lava Tree Molds4.215.3 mi
- Fissure 8 viewing area4.610.1 mi
- Volcano Art Center - Admin Offices & Learning Center4.712.5 mi
- Nāhuku Lava Tube4.612.3 mi
- Kīlauea Iki Trailhead-lava tube4.812.4 mi
- Pu‘uloa Petroglyphs4.59.4 mi
- Lava Tree State Monument4.310.8 mi
- MacKenzie State Recreation Area4.612 mi
- Kehena Black Sand Beach4.67.8 mi
- Maku'u Farmer's Market4.710.2 mi
- Puna Kai Shopping Center4.48.8 mi
- Hilo International Airport4.421.3 mi
- Blue Hawaiian Helicopters4.821.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
The central hub for local commerce and dining in the Puna district.
Various community parks and coastal access points serving the local population.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.