Archive for the ‘Kolea’ Category

Talk Story On Tap: Aloha Science Friday!   Leave a comment

Join us for a fun and fascinating talk over drinks and pupus at Talk Story on Tap: Aloha Science Fridays!

Happy Hour Menu available all evening.

Thanks to our friends at South Kohala Coastal Partnership, we have four monthly talks in store!

Meeting the Challenge of Sea Level Rise Through Technology with Chad Wiggins of the Nature Conservancy

When: Friday, June 8, July 13, August 10, September 14

Time: 6:30-8:30 pm

Where: Queens’ MarketPlace

Daylight Mind Coffee Company

Lucky we live Hawaii!

Warm Aloha~

Karen E. Bail

808-936-4640

Fax: 808-883-2263

RB-16072

kebail@aloha.net

http://www.KarenBail.com

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Movies Under the Stars at Queens’ Marketplace at Waikoloa Beach Resort~May 26th   Leave a comment

Movies Under the Stars at Queens’ Marketplace at Waikoloa Beach Resort~May 26th

FREE Movie Presentation! Once a month, you’re invited to bring a beach chair or blanket for a free outdoor movie at dusk at the Coronation Pavilion at Queens’ Marketplace at Waikoloa Beach Resort!

May’s Movie: COCO

Aspiring musician Miguel, confronted with his family’s ancestral ban on music, enters the Land of the Dead to find his great-great-grandfather, a legendary singer.

When: Saturday, May 26

Time: Dusk

Where: Queens’ MarketPlace

Coronation Pavilion

Warm Aloha~

Karen E. Bail

808-936-4640

Fax: 808-883-2263

RB-16072

kebail@aloha.net

http://www.KarenBail.com

Waikoloa Market Update ~ October 2017   Leave a comment

Aloha and happy Monday to you! The Waikoloa market is going strong with slightly more than 3% appreciation in the last 3-months, click here for: Full Market Report, over the previous three (click here for: homes sold in that period).

The previous three included several bank owned homes to lower the average price. Inventory is still limited. There are more buyers than inventory. Buyers today are less likely to invest sweat equity, preferring a home in good condition, ready to move in and priced at market. Homes within these parameters will sell in days to buyers waiting for the right home at the right price. Not a bubble market where everything sells at any price. You can see this reflected in the full report that shows homes overpriced or in poor condition still languishing on the market. Saw some new homes finished well that did not seem grossly overpriced finally sell when the price was lowered to the market value. There are a lot of buyers who are patient and exercising good judgement. Banks continue to expand their loan programs to be more accessible to a wider range of buyers while adhering to conservative lending practices. No funny money if you can breathe loans!

Rental market remains very tight and monthly rental rates continue to rise. Average rent in Waikoloa now hovers between $2,000-$2,500 per month. Unemployment is very low with a strong construction and high visitor counts. There is a labor shortage in many sectors and lack of rentals discourages new labor sources.

There are developers starting to move on purchasing shovel ready projects or dusting off their plans to get ready to start building more homes. The Vista Waikoloa project is an appealing project of around 30 or so homes starting around $600,000. It is another Town home project with good design and finishes.

Ainamalu at Waikoloa Beach Resort is a very attractively priced community for resort homes. It is a green development offering photovoltaic power, propane farm piping gas to the homes (rare to have this set up on the Big Island) and eco-friendly construction. No great views but beaches within walking and biking distance is a big draw as are the Greenways throughout the neighborhood. The soon to be built community center is pretty WOW. They are moving forward with construction steadily and expect to start delivering completed homes soon. Demand is very solid for this project.

Please feel free to call anytime to discuss Waikoloa further. Always good to hear from you!

Aloha and a hui hou~
Karen E. Bail, RB-16072

808-936-4640

Fax: 808-883-2263

kebail@aloha.net

http://www.KarenBail.com

: Local + Community ~ Tropics Ale House   Leave a comment


: LOCAL + COMMUNITY
Tropics Ale House
Tropics Ale House is a sister concept of Oahu’s Tropics Tap House. The original Tropics Café, Bar, and Lounge was established by founder Pat Kashani in 2005, Tropics was introduced into the Honolulu bar scene with an extremely exciting and fresh pitch on quality live entertainment, great pub food, and restaurant class hospitality in a bar and grill setting. Since, the concept has evolved into a destination for amazing craft beers, locally sourced fresh American pub fare, sports, and superb hospitality! Tropics is a fresh food pub concept featuring 24 craft beers on tap, fresh American pub fare, restaurant class service, a sports bar, and an atmosphere unlike anywhere else. A great place to sit back, relax and enjoy the hospitality, food, music, and great beers! 


Open 11am-1030pm Sun.-Thur

11am-12am Fri. & Sat

Live Music Every Thursday, Friday + Saturday Night

69-1022 Keana Place

Just off 5th stop sign of Waikoloa Resort Rd accross from Hilton Waikoloa  808-886-4287


Happy Time 7 days a week from 3pm-6pm includes special priced draft beers, high end well drinks, + tropical drink selections


Info + Photos courtsey of: http://www.tropicsalehouse.com/home

Karen E. Bail

808-936-4640

Fax: 808-883-2263

RB-16072

kebail@aloha.net

http://www.KarenBail.com

#kohalacoast #karenbail #waikoloa #waikoloabeachresort #tropicsalehouse

Free Holiday Events at Queens’ Marketplace   Leave a comment


Don’t miss these free holiday events at Queens’ Market Place throughout December! 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Sat., December 10 at the Coronation Pavilion

Kealakehe Intermediate School Ukulele & Chorus Ensemble – 10:00 am

Halau Hula O Kalaulani O Pu’uanahulu – 12:00 pm

HPA Handbell Choir – 4:00 pm

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Dimitra Milan Live Paint

A celebrated artist by the age of 15, Dimitra Milan’s extraordinary paintings can be found in private collections and in fine art galleries in Arizona and Hawaii. Her paintings are often of a dreamy world that bring together subjects with color and style. Don’t miss a special opportunity to see her paint at Genesis Galleries.

When: Friday, December 10

Time: 5:00-9:30 pm

Where: Genesis Galleries

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Monthly Mini Concert Series – Ali`i Keana`aina

FREE EVENT – Join us for free LIVE MUSIC, 6:00 – 8:00PM at the Coronation Pavilion.

When: Saturday, December 17

Time: 6:00-8:00 pm

Where: Queens’ MarketPlace Coronation Pavilion

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Wyland at Genesis Galleries – Live Paint

Meet legendary artist Wyland, enjoy an art show and live painting at Genesis Galleries at Queens’ Marketplace.

When: Thurs., December 29 and Fri., December 30

Time: 5:30-9:30 pm 

Where: Genesis Galleries

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Picture Taking with Santa

FREE Photos with Santa – Bring your own camera!

When: Saturday, December 17 – Friday, December 23

Time: 5:00-8:00 pm

Where: At the clock between Island Gourmet Markets and Romano’s Macaroni Grill.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Movies Under the Stars

FREE Movie Presentation! Once a month, you’re invited to bring a beach chair or blanket for a free outdoor movie at dusk at the Coronation Pavilion.

Santa’s clumsy son Arthur gets put on a mission with St. Nick’s father to give out a present they misplaced to a young girl in less than 2 hours.

PG | 1h 37min | Animation, Adventure, Comedy

When: Saturday, December 24

Time: Dusk 5:50 pm

Where: Queens’ MarketPlace Coronation Pavilion

Mele Kalikimaka! 

Puako for Buyers   Leave a comment

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Aloha.  It is starting off to be another beautiful week in Hawaii with the return of the cool stirrings of the Tradewinds.   Clear skies, fresh air…..Hawaii!

The time has never been better to be a buyer for Puako property.  While much of the Island’s most desirable areas have limited inventory, there has never been more properties for sale in Puako in my entire career (selling here since 1989).   By clicking on this market report covering sales over the last 3-months (wait…what sales?!?) you can see that there are 17 homes* and lots for sale with three properties in escrow

The last quarter of 2015 and early first quarter of 2016 saw fourteen properties come to market.  All but four are still on the market. Two of the three in escrow were listed then, all priced at the lower end of the price range.  (Two of the three are our Elite Pacific Properties listings) Two sold although one that sold was actually on the market nearly two years priced 17% higher, then given a “rest” from Multiple Listing Service, a refreshing practice to make it appear as a new listing. Understand the buyer had looked at it earlier and made the offer soon after the price was reduced. The best Puako value, Puako #80, was listed only a few weeks ago and in escrow within days because of its location, charm and excellent pricing.  Word on the streets is it was purchased by one of its regular vacation rental guests.  The other oceanfront home in escrow has been in escrow for months but is another example of a well-priced, well located property considered to be a good value given its extra-large, deep set lot with a classic beach house.   The lot next door to this home, another great value is still for sale, click here to see.  Although there have not been any sales over the last 3-months, there was total of 8-sales between August of 2015 and March of this year.  You can see what sold by clicking here for that report.

At least three of the oceanfront properties on the market have been trying to sell for literally years.  We can suspect that this is mostly due to their prices.  I have shown them to several clients who felt their perception of value was not equal to the sellers perception of value.   Limited inventory in the past gave sellers the luxury of pricing to meet their needs.  Add to that that sellers are not always educated as to how the differences between homes affects their values. Puako is a community without CC&Rs which is very attractive to most of those who call Puako home.  This leads to a mixed basket of homes; from rustic beach cottages to grand oceanfront estates.  It is difficult to determine values since we really have to compare mangoes to bananas.  Harder still for a seller to price to sell if he doesn’t understand how these differences affect their value in the marketplace of today.  That is the job we agents have to do!  But right now, my job is to educate you so you make the right choice as a buyer.  Having all these choices now at this time of year makes it an awesome time for us to find your perfect Puako home.  Or if not Puako, we will find you one somewhere else on this beautiful Island!

Give me a call or shoot me an email and let’s jump on this opportunity now.

 

*Puako Kai is 2-CPR homes on one lot listed separately (2X) and together (1X).  It has been on the market 18-months, listed with three different Brokerages. Now at 20% off the original list price of $2,350,000.

Building Without a Permit can be very expensive   Leave a comment

Lots of people want to avoid the hassle of the permitting process, thinking it will save them time and money.  Every day we Realtors see the costly aftermath of this when the banks won’t loan on homes with unpermitted additions or lacking final permits….My Grandmother had a saying “Penney wise, pound foolish”  You might save a few dollars in the beginning, but if you ever want to sell your home, after the fact permitting can cost you a lot!  My friend Alan Van Zee at Hawaii Mortgage said I could share his article about the implications of building without a permit in today’s lending climate, thanks again Alan for these very wise words!

Building Without a Permit

The percentage of single family homes for sale that have unpermitted improvements is staggering.  As lending regulations have tightened over the past 8 years, sellers and homeowners are learning the harsh reality of not playing by the rules.

 

It really makes no sense to do work without a permit.  While permits may take some time getting through the building department, the cost for one is relatively low.  I’ll just be bold and say – If you proceed with building anything without a required permit, you are dumb.

 

Sorry to be harsh, but what time and money you may save going the “cheap and dirty” route, will not only cause problems for you in any future financing, but you may never really reap the reward of added value.

 

Appraisers have a tough job when valuing a home with unpermitted improvements.  No matter how nice, an enclosed lanai or transformed garage can never be counted in the calculations of living space square footage.  That could change your 3 bedroom 2 bath home into a 2-1.  The value placed on living space is significantly higher than non-living space.  If someone is trying to buy your listed home for sale, the appraisal may not support the sales price.  SO unless the buyer is putting a substantial amount down, it could cause the transaction to collapse.

 

While this phenomenon of unpermitted improvements occurs on every island, what’s up with Maui and Hawaii Island?  The incidence of unpermitted improvements is almost like a contagion.  Recently I had a client wishing to buy a beautiful ranch property on Maui for $1,300,000.  The owner/seller constructed a 1,700 square-foot shed/barn/garage on the property without a permit.  Why?  The permit was not that expensive.  They obviously had a contractor build it, as it was not some piece of junk.  Now the seller has to go and obtain an after-the-fact building permit.  Not only does it slow down the transaction process, it could derail it if the county comes back and doesn’t approve what was built.  If you are selling something valued at almost 1½ million dollars, are you nuts to think you can build an illegal structure larger than many people’s home, and it won’t cause any problems?  Maybe the thought of selling was not on their radar when they built it.  But selling or not, here’s a fact – rarely does a property stay in one’s family without the need for financing.

 

I get the idea that you may work in the trade and have friends that can help on the side, but get a permit.  Maybe you don’t want to get a permit because certain specialty areas need a licensed contractor to perform that work?  For the specialty areas like electrical and plumbing, get a licensed contractor to do the work.  If I were buying a home and found that someone other than a licensed contractor did the electrical or plumbing, it would not sit well with me.  After all, what could happen?  The place flood or go up in flames?

 

The bottom line is that lending and unpermitted improvements don’t mix.  If you want to see your “investment” reap the greatest reward from the time, money, and effort you put into a renovation or expansion, do it right, and get it permitted.”

for-blogReprinted courtesy of Alan Van Zee, Hawaii Mortgage Company, Phone: 808.988.6622