I am a Broker in Wilmington and I have sold several homes on Oak Island. You have to be careful with the static vegetation and non rebuild-able lots. If you are in a flood zone, it depends on the flood zone as to what your insurance would be. Usually anywhere from 1000-3000 a year depending on home size, elevation, location, etc...
Feel free to call me or check out our website if you would like more specifics. I am pretty familiar with the beach since I used to live in Leland and spent a lot of weekends there! I hope you are having a great day!
I live in what is known as the "wooded section" of Oak Island - and three blocks from the ocean. I am not in a flood zone and no flood insurance is required.
If you are looking at something that will give you a view of the waterway or the ocean, you would likely be required to have flood insurance. In many cases, wind and hail insurance seems to be higher than the flood insurance.
I would suggest finding a couple of properties you like and ask the agent to find out those details. This will certainly help in your decision.
Thank you for your question.