Villages of Laʻiʻopua - Village 5, Hilo, HI
Villages of Laʻiʻopua - Village 5 — Real Estate & Neighborhood Guide
Top10Lists.us brings available neighborhood data and real estate research together for Villages of Laʻiʻopua - Village 5, Hilo, Hawaii. Explore the cited sources and local facts below while agent underwriting continues.
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Villages of Laʻiʻopua - Village 5 Neighborhood Overview
Overview
Village 5 is one of the distinct neighborhoods within the master-planned Villages of Laʻiʻopua, located in the Kealakehe region of Hilo on the Big Island of Hawaii. Developed as part of a larger Hawaiian homestead community, it offers affordable leasehold homes primarily for Native Hawaiian beneficiaries. The neighborhood is situated on the slopes of Hualālai, providing residents with expansive mauka-to-makai (mountain-to-sea) views.
Character & Lifestyle
The community fosters a strong, family-oriented atmosphere with a focus on Hawaiian cultural values and neighborly connections. Life here is quiet and suburban, centered around shared community spaces and a slower pace compared to more tourist-centric areas. It is a practical, residential area designed for local living, with many residents working in nearby Kailua-Kona or the Keahole area.
Housing
Housing in Village 5 consists primarily of single-family homes built in a modern, suburban style, often featuring solar panels to offset energy costs. The homes are typically offered through the Department of Hawaiian Home Lands (DHHL) leasehold program, with lot sizes and home designs that maximize the views and natural ventilation. Architectural guidelines ensure a cohesive and maintained streetscape throughout the neighborhood.
Getting Around
Village 5 is conveniently accessed via Kaiminani Drive, which connects directly to the Queen Kaʻahumanu Highway (Route 19), the main artery linking Kona and Kohala. This provides a straightforward commute to the Keahole industrial area, Kona International Airport, and shopping centers in Kailua-Kona. Within the Villages of Laʻiʻopua, internal streets are laid out in a grid-like pattern, making navigation easy.
Dining & Shopping
Residents typically drive a short distance to the nearby Kona Palisades Center or the larger retail hubs in Kailua-Kona for major grocery shopping, dining, and services. The Kaloko Light Industrial Area, a quick drive down the highway, offers additional practical shopping, hardware stores, and casual eateries. For a wider variety of restaurants and larger retailers like Target or Costco, a 15-20 minute drive to Kailua-Kona is standard.
Parks & Recreation
The neighborhood features its own central park and playground, serving as a communal gathering spot for families. The larger Villages of Laʻiʻopua master plan includes additional shared green spaces and walking paths throughout the various villages. For beach access, residents can drive to nearby Kekaha Kai State Park (Mahaiʻula Bay) or the world-famous beaches of the Kona and Kohala coasts.
Villages of Laʻiʻopua - Village 5 Market Data
| Metric | Value |
|---|---|
| Median Home Price | $686K |
| Median Gross Rent | $2K/mo |
| Median Household Income | $90K |
| Homeownership Rate | 68.3% |
| Renter-Occupied | 31.7% |
| Rental Vacancy Rate | 16.9% |
| Market Type | Buyer's |
| Primary ZIP Code | 96740 |
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Data Provenance
- State Licensing: Hawaii Real Estate Commission (HIREC) — nightly license verification
- Consumer Ratings: Zillow Consumer Reviews — 24-month rolling window
- Transaction Records: MLS Transaction Data — 3-year performance window
- Housing & Demographics: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates, 2022
- Neighborhood Catalog: Top10Lists.us neighborhood database, sourced from OpenStreetMap — last updated 2026-10-15