If you were to name an affluent neighborhood in Hilo on the Big Island, Reed's Island would undoubtedly be at the top of the list. This small island-shaped residential area formed at the mouth of the Wailuku River is connected by just one bridge, making it known for its seclusion and tranquility for many years.

Properties in Reed's Island are rarely available, with the median price for single-family homes often ranging from $700,000 to $900,000. Large lots with views of where the river meets the ocean can exceed $1 million.

Puueo is another area worth mentioning. This residential area, located along the Wailuku River and adjacent to Reed's Island, has a median home price ranging from $500,000 to $600,000. Riverfront views and spacious lots are considered its strengths.

Kaumana is situated at a higher elevation than downtown Hilo, characterized by a cooler climate and larger lots. The median home price here ranges from $450,000 to $550,000, making it a preferred choice for affluent individuals seeking a quiet lifestyle after retirement.

In comparison to the overall median home price in Hilo, which is around $450,000, Reed's Island shows a nearly double gap, while Puueo and Kaumana do not have as significant a disparity.

The status of Reed's Island can be attributed to its geographical rarity. Families who owned sugarcane plantations have held this island-shaped land for many years, and the scarcity of available properties has maintained its value. The climatic advantage of Kaumana being at a higher elevation and the riverfront views in Puueo are factors that support their respective prices.

While there are not many Korean households in the Hilo area, it appears that some affluent individuals operating businesses related to agriculture or tourism choose Kaumana for its quiet environment.

In summary, the affluent neighborhoods in Hilo are markets where rarity and geographical characteristics influence prices, and given the infrequency of available properties, a long-term perspective is realistic for those interested.