When it comes to selling a property, most people think of working with a real estate agent to list their house or condo. However, what about selling land? Is it possible to sell your land without an agent in Hawaii? The answer is yes. With the right prep work and proactive effort, you can successfully market your property to a qualified buyer and handle all of the necessary paperwork on your own.
According to the Department of Agriculture, total farmland acreage value in Hawaii reached over $6.8 billion in 2022. Against a backdrop of strict development restrictions severely limiting private land supply against surging housing demand, Hawaiian land assets consistently appreciate in value.
Many individuals choose to sell their Hawaii lands due to a variety of personal and financial considerations. From settling debts and meeting immediate financial requirements to realizing investment diversification goals, offloading land investments provides a swift and substantial infusion of cash.
Other common reasons for selling land include covering unexpected expenses, achieving lifestyle aspirations, or relocating to a new area of the country. Liquidating a Hawaii land asset can also facilitate the smooth transition into a new chapter of life, including embarking on travel or starting a business venture.
A land sale requires a different set of real estate skills than a residential or commercial property sale, especially when dealing with a rural location like Hawaii. Unlike cities and suburbs, land is a remote and isolated real estate category – one that often requires extensive site preparation for sale, specialized documentation prepared by an attorney and unique title insurance policies. Furthermore, sales processes typically extend 12-24 months or more, compared to just 6-12 months for traditional home sales.
While the average time to sell a piece of land in Hawaii varies due to limited inventory and fluctuating market demand, working with a company that specializes in island land deals can expedite the process. Providing guidance on pricing strategies, marketing exposure and buyer negotiation tactics, an experienced Hawaii land specialist can optimize sales timeframes for sellers.
What Is the Best Way to Sell Your Land in Hawaii?
The most common approach to Sell Your Land in Hawaii is listing it with a local real estate agent. However, the majority of real estate agents are primarily focused on selling homes and do not have experience marketing vacant land. As a result, their marketing efforts are insufficient to reach the right buyers and may lead to extended sales timelines.
Another option for selling your land in Hawaii is to sell it directly to a “we buy land” company that can close quickly and pay you full cash for your property. This route offers a number of benefits including avoiding costly real estate commissions, eliminating the need for expensive inspections and repairs, and closing in as little as 30 days. Additionally, selling your land to a cash buyer can often be done with no bank financing. Please note that if you sell your land for more than what you paid for it, you will be subject to capital gains taxes.