Land in an active lava zone, it turns out, is relatively cheap. Still, the area remains one of the last affordable refuges on the cheapest island in Hawaii, America’s most expensive state. Like many places in the U.S., an influx of remote workers during the pandemic has helped send the housing market here into overdrive. The property sits on a 1-acre lot in Hawaiian Paradise Park, a subdivision located in the less-risky lava zone 3. Lava insurance rates in lava zone 1, the riskiest area that encompasses the entire subdivision, were so high that they simply stopped paying for it, he said.

Source: Wall Street Journal January 17, 2024 17:23 UTC