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Trade Area
Queens' MarketPlace is located on the Kohala Coast, the crown jewel
of the Island of Hawaii. The Kohala area is the islands highest growth
area with median home values exceeding $458,000. However, to
understand the Kohala Coast, you must go beyond the demographics
which represent only the full-time residents of the trade area. Multimillion
dollar oceanfront homes and condominiums with golf course
views are being built at a rapid pace. The average assessed value for
owner-occupied homes on the Kohala Coast was $2.5 million is 2003.
For vacation or second-homes the average assessed value was $2.9
million. Because 90% of these property owners are part-time residents
or visitors, they are not reflected in the demographics of the area.
Trade Area Highlights:
- 11 golf courses on the Kohala Coast with two of the best located
in the Waikoloa Resort.
- Hilton Grand Vacations will have approximately 1,132 time share
units in the next 3 to 5 years.
- Full-time resident population for the county is 163,000 and is
projected to grow by 8.4% by 2010.
- Tourism added nearly 1.3 million visitors to the population in
2004 and total arrivals are up more than 17% year-to-date (through
May 2005).
- Job growth at 2.8% continues to outpace the state of Hawaii.
- The island's diversified economy including agriculture exports,
sea farms and the bottled water industry, in addition to tourism,
keeps the island strong and prosperous.
- The unemployment rate for the island is only 3.2% compared to
the national average of 5%.
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