Tofino

Tofino sits at the edge of the world where ancient rainforests meet the wild Pacific, and that geography creates something unique in BC’s mortgage landscape. This isn’t just another coastal town—it’s where storm-watchers and surfers pay premium prices to wake up to waves that have traveled thousands of miles to crash outside their windows.

The numbers tell an interesting story. With 28% population growth since 2016, Tofino’s pulling people from somewhere, and it’s not hard to figure out where. Vancouver’s tech workers and Alberta’s energy professionals discovered they could work remotely from a place where black bears wander the beaches and old-growth cedars tower over million-dollar cabins. The median household income of $85,000 reflects this shift—higher than you’d expect in a town where the biggest employer is hospitality.

Tourism drives everything here, with nearly 30% of jobs in accommodation and food services. That creates both opportunity and risk. Properties move fast when the market’s hot because everyone wants a piece of Pacific Rim magic, but economic downturns hit tourism towns first and hardest. The 12% unemployment rate hints at this volatility—seasonal work and economic sensitivity create the kinds of situations where borrowers need flexible lending solutions.

Real estate here defies normal logic. Single-detached homes make up just half the housing stock, with the rest split between apartments, duplexes, and nearly 10% “movable dwellings”—a polite way of saying some folks live in RVs because even modest homes cost more than houses in Prince George. The lifestyle premium is real, and people pay it gladly.

For mortgage brokers, Tofino represents clients who often don’t fit traditional lending boxes. Self-employed tourism operators, remote workers with irregular income streams, and investors buying vacation rentals all need equity-based solutions. Our 55% maximum LTV reflects the unique market dynamics—properties hold value because of location desirability, but liquidity can disappear quickly if tourism slows.

The town’s appeal isn’t going anywhere. You can’t replicate the combination of accessible wilderness, world-class surfing, and proximity to Vancouver Island’s amenities. That permanence makes Tofino mortgages interesting despite the challenges.