Queens’ MarketPlace is Happening!

Save the Date!  Asian Fest – Year of the Dog

Asian Fest Lions and Taiko Drums! Welcome the Year of the Dog at the exciting “Asian Fest” at Queens’ MarketPlace in Waikoloa Beach Resort on Friday, February 2. Come celebrate with the vibrant Lion Dancers and driving rhythms of drums from around the world. And, make sure you have your lycee (red envelope) ready with “lettuce” to feed the Lion and ensure good health and fortune in 2018. More than Chinese New Year, Asian Fest brings together the fun and fascinating Far East traditions that came to Hawai’i and still inspire residents and visitors from everywhere!

When: Friday, February 2

Times: 5:30pm – 7:00pm

Where: Queens’ MarketPlace

Hope to see you there!

Photo + Article courtsey of: Queens’ Marketplace

Warm Aloha~

Karen E. Bail

808-936-4640

Fax: 808-883-2263

RB-16072

kebail@aloha.net

http://www.KarenBail.com

Photo + Article courtsey of: http://www.whofish.org

Movies Under the Stars at Queens’ Marketplace coming up on Saturday January 27th!

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.

The Man in the Yellow Hat is an oddball museum employee who looks after his pet monkey, an inquisitive and wonderful creature whose enthusiasm often gets the best of him.

G | 1h 27min | Animation, Adventure, Comedy

When: Saturday Jan. 27, 2018

Time: Dusk

Where: Queens’ MarketPlace Coronation Pavilion

Photo + Article courtsey of: Queens Marketplace

Aloha and a hui hou~

Karen E. Bail, RB-16072

808-936-4640

Fax: 808-883-2263

kebail@aloha.net

http://www.KarenBail.com

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

Price REDUCED!! 

Character….history….a storybook setting make this Kalopa property standout from the ordinary!

🔹44-3173 Kalaniai Rd Honoka’a

🔹3BDRM ~ 1Bath

🔹$399K

This home incorporates into its core the Old Paauilo School, moved to this property from its original location many years ago. Additions over time have enlarged this shingle covered residence. Ocean views peak out form the trees. A large barn with bath and office was built later to accommodate the horses who once roamed these pastures. Could be used as a barn, a warehouse or a workshop…..lots of potential. Attached to the barn is a two bay carport, adding parking spots to the other carport fronting the home. Your vision and some tender loving care can turn this into a true charmer. 

The property is located about a half mile below the entrance to Kalopa State Park. Ride your horse up to the park to take advantage of the parks equestrian trails. Enjoy the quiet neighborhood where Io fly. This nearly 5-acres extends from Kalaniai Road to Kalopa Gulch at its rear boundary. The house and barn sit through the gate at the rear portion of the lot. Road front paddocks create a buffer zone that hides the home and barn from the street. 

Do you see your horses and cows happily munching through the pastures? Its time to turn that dream into reality…..a homestead of your own in Kalopa!

Shown by easy to arrange appointments. Listing agent prefers to be present.

Karen E. Bail

808-936-4640

Fax: 808-883-2263

RB-16072

kebail@aloha.net

http://www.KarenBail.com

It’s officially summer….time for the mid-year Waikoloa Village Market Report. Inventory is low at 31 homes currently for sale ranging in price from $310,000 to a high of $847,750 with most homes listed in the mid-$400,000s. There are 30-homes in escrow, waiting for their sale to close at this moment. Wow! There have been 48-homes sold so far in 2014. Short sales and foreclosures still appear and sell quickly if priced right, but they are no longer a major part of the market. The limited inventory may nudge prices up in Waikoloa for the near future. The lack of vacant land to build on here also puts upward pressure on the prices. Click here to see Year to Date market report.

The first quarter of 2014 saw 21 sales at an average price of $434,257. Homes were selling within 97% of their listed price in an average of 94 Days on Market (DOM). This compares well to the first quarter of 2013 where the average price was $335,369 of a total of 16 sales. That is a year to year, first quarter price increase of 29% and a 31% increase in the number of sales.

There were 27 homes that sold in the second quarter of 2014 at the average price of $472,348. Sellers realized, on the average, about 97% of their asking price in an average of 91 days on market. There was large volume increase of 28% over the number of homes sold in the first quarter of this year. This same quarter in 2013 saw more sales, 31, but at a 21 % lower average price of $390,569. The 2014 second quarter price is also higher than the third quarter 2013 average of $368,539, but, lower than the 2013 fourth quarter average price of $496,999. This average may be higher because only 22 homes sold in the last quarter of 2013, one which was over a $1,000,000.

There are a lot of buyers looking to call Waikoloa home. If interest rates remain low and the world stays calm, we expect to see prices continue to move into the upward direction.

As always, please feel free to call or email to discuss. Be happy, stay well and a hui hou

Waikoloa Village Golf Course

Finally, there is some selection in the Big Island’s oceanfront real estate market along the “Sunset Coast” from Puako to Keauhou. Changing times give us an oceanfront market that owners of legacy properties find a bit more enticing.   Less regal properties are offered for sale as well.   From vacant land like no others to condos along Ali’i Drive or Puako Beach Road fixers, the selection is pretty interesting right now.   There are many more beautiful coastal properties than discussed here,  these stand out from the rest!

 The most fantastic oceanfront property now on the market is a 21-acre, 4-taxkeys oasis of white sand beach, protected lagoon and rich history. Walk 10-minutes south along the beach from Anaehoomalu Bay at Waikoloa Beach Resort until you reach old beach shacks overlooking the lagoon. The property sits near the border where the South Kohala and North Kona districts meet.  Ruins of an old Hawaiian village are buried under Keawe trees to the South.  The clash between Hawaiians and the Fair American took place in nearby waters off this stretch of coast.  (Different accounts place the encounter as far south as Ka’upulehu or as far north as Puako)  A 3-masted schooner petroglyph is carved in the lava bank here, perhaps memorializing this event.    If you ever wanted a place on a white sand beach to call home…click here to meet your new reality.  “Truly a rare opportunity” cannot be stated more clearly in reference to this property.   It is accessible by vehicle down a private road off of Queen Kaahumanu Highway.

Oceanfront Puako just got better too with a price reduction of $400,000 at 100 Puako Beach Drive (MLS# 257993 click here), from $2,600,000 to $2,200,000,  a much more reasonable price for this tear-down property.   It is now priced in line with recent Puako vacant land sales.

Best priced resort home, actually only true oceanfront resort home, is at Kolea Kai in the Waikoloa Beach Resort.  First listing incarnation in 2009 at $8,750,000 was a bit ambitious,  MLS# 257650 is now smartly priced at $5,995,000.  Expect to see this sold soon given the dwindling inventory and improved value at this price.

Another  unique property is the 2.95 acre estate  at the north point of Keauhou Bay where it is rumored John Wayne married his wife Pilar.  Stately trees shade park like grounds here which include a functioning private dock at this richly historic setting of Keauhou Bay .   Years ago, when personal estates dotted the Keauhou Bay shores,  private docks were common.   More recently it claims its fame as a repository of a Vladimir Ossipoff designed home.  This home was designed with the lighting, breezes and the ambience of this place in mind.  The existing home may need updating but the benefit of the property consisting of two Taxkeys gives one the latitude to build a new home privately situated away from the exiting home.   Pool, pool house and tennis courts complete the package.

The Oceanfront condo list must be interpreted a bit more broadly than the other lists.  Oceanfront condos translate to oceanfront condo “projects” .  Some of the units listed may not really be oceanfront although they are in an oceanfront project.

.  Hali’i Kai 8A, MLS #267028 is not a direct oceanfront unit in Waikoloa Beach Resort, but its views make it feel pretty close.

This Mauna Lani Terrace unit is one of the few 3-Bedroom condos you will find in Mauna Lani so close to the water.

 In Kona, a new listing of a Keauhou Kona Surf & Racquet Club #3301, MLS#267296 seems very reasonably priced at $699,000.

Check out the lists below to see the oceanfront properties for sale along the Sunset Coast.   Call or email when you have the time to talk real estate.  Until then, take care, stay well, be happy and a hui hou!!

Sunset Coast Homes For Sale

Sunset Coast Land For Sale

Sunset Coast Condos For Sale

Have you been thinking that Kohala Ranch might be the perfect place for you to call home?    Any plans this Thursday, July 18, 2013, between 4:30 and 6:30?  We are holding these two Kohala Ranch homes open during the late afternoon sunset hours.

Both are located in The Heathers of Kohala Ranch.  This is the preferred neighborhood of all the Kohala Ranch neighborhoods.   The appeal of the location at low, near ocean elevation and the unique to The Heathers  terrain offering more wind protection than upper elevations of Kohala Ranch  attracted many of today’s Heathers residents.   Each home has a different feel, features, floor plan, finishes, views and location.

Take this opportunity to see if one will call you home to Kohala Ranch!!

Red Wine and Chocolates are to be enjoyed while you tour this home at 59-576 Ka’ala Road

White wine, Prosecco and Rose will be served with some nice cheeses, including Big Island chevre, at 59-316 Oma’o Way.

 

 

 

 

 

 

 

The Waikoloa Residential Real Estate market, along with most of the Big Island and State, is returning to robust health, shedding distressed properties and beginning its upward price climb as the number of homes on the market falls. The University of Hawaii’s Economic Research Organization charts following the average sale prices since 1980 indicate 8 to 11-year periods or cycles between the high points and low points of market activity and value. They saw our low point in the 2nd quarter of 2009 and their data since indicates definite rise in values. Please note that these are statewide reports. The Big Island markets in general (Hualalai Resort and Kukio live in their own worlds) tend to lag behind Oahu but as this Waikoloa Village Report clearly shows; we are in about the third year of recovery. Given the length of previous Real Estate cycles, can we expect another bubble in 2017? Maybe…who knows what forces will affect the pace of recovery but at this point, a healthy market is upon us.

Looking at the Waikoloa Residential market we see a small first quarter average sale price drop of 3.3% from the 4th quarter of 2012. This small decrease in the 1st quarter 2013 low can be attributed to the short sales entered into escrow many months before in 2012 finally closing. Short Sales usually endure long closing periods while negotiations go on between the lender and the borrower/seller. One short sale opened escrow last July 5th but did not close until March 15th of this year at $250,000. This price reflected an earlier market. Yet the 2013 1st quarter bottom price of $224,900 was a pretty awesome 27% higher than the low 2012 first quarter price of $175,000.

The 2013 1st quarter average price of $335,369 was 21.6% higher than the 1st quarter 2012 average price of $275,732. We also saw a decrease in number of sales given the decreased inventory at the end of 2012. At the same time we had the highest sale in over 6-months at $620,000. This is a 28% increase over the 2012 1st quarter high sale of $445,000.

So if that wasn’t exciting enough; the second quarter was crazy!! We not only saw significant changes comparing 2nd quarters of each year but also when comparing the first to the second quarter of this year. The lowest price rose 8% quarter to quarter, from $224,900 to $243,000 but an amazing 37% year to year. (Q2 2012 low price was $177,000). But it gets better when we compare the highest priced sale; a 45% gain over the same quarter of 2012 ($440,000 in 2012 vs. $640,000 in 2013) and a minor 3.3% increase over the 1st quarter high price of $620,000. We see the number of sales in this range increasing with the market prices. People who were not distressed could afford to wait for a better market to move. It got better and they moved. They increasing quality of homes entering the market indicates they are still moving!! There were 4-sales over $400,000 in the 1st quarter of 2013 but 11-sales over $400,000 the 2nd quarter. Compare this to 2-sales over $400,000 in the 1st quarter of 2012 and 3-sales the following quarter of 2012.

The number of distressed sales dropped significantly compared to the number of short sales in the 1st quarter of 2012; 11 distressed sales in the first quarter of 2012 down to only six selling the 1st quarter of 2013. We still see some a few homes around the village in various stages of neglect that for some reason are not being brought to market by their Lender owners. However, lenders prefer to sell at the low end of the market once they decide to sell. Not at this time expecting to see these depreciate the market once they are available.

The inventory of homes on the market is at its lowest in 10-years at least. We began this week with 28-homes for sale in Waikoloa but 4-homes were just listed  to bring us up to a total of 32. There are 23-homes under contract to sell. From January 1st of this year we saw 48 homes sell. This translates to a less than 4-month supply of homes on the market. Low inventory levels put pressure on prices to move them up at a steady pace. If the trend continues we may see quarterly appreciation of approximately 4%. Trends can never be guaranteed given the influence of so many outside factors , (famous disclaimer “past performance is not necessarily indicative of future performance”) but things are definitely looking bright in the Waikoloa Residential market. Click here to see the report covering the current state of the Waikoloa Residential real estate market.

The Waikoloa Village condo and land market analysis is under way and should be in your mailbox soon. Please call or email if you thinking it might be the time to buy (interest rates still low, prices going up) or sell or just to talk about the market. As always, stay well; take care and a hui hou!

The Big Island’s Kohala Ranch is a gated equestrian community of over 3500 acres conveniently located between the Kohala Mountain Road and Akoni Pule highway along coast.  It begins at approximately 100 feet above sea level, within range of the whale songs, to cool up country ranch lands 3000 feet above the Sea.  Four legged pedestrian; horses, wild pigs and cows  have the right a way on the roads thru these  range lands.

Those who chose to call Kohala ranch home today live among the different climates of the distinct neighborhoods of Kohala Ranch.  The Heathers is at the balmy elevation of about 100 feet above the sea to 1,000 feet.  The Meadows lies between 1600 and 2100 feet above sea level and then the Summit from approximately 1600 feet to over 3,000 feet above sea level.  Micro-climates from ocean tropical arid to cool, misty uplands are found here.   Located in the ahupua’a ( historic land division) of Waika, between the Kawaihae and Kahua districts of Kohala, this area is as rich in history as it is in beauty.  Cherished then as now for the vista across Kahuwai-o-pili of an amazing panorama from the mountains to the sea.  Today the beauty of this place continues to awe both the lucky to live here and the lucky to visit .

Early Hawaiians established productive fields amidst the sandalwood forest of Waika. It is believed that sweet potatoes were grown along Kahuwai-o-pili, erroneously labeled on many maps as Keanahalulu.  Today one can still see the walls and terraces of these old fields in the pastures of Waika and Kahua.  Even the Hei’au walls,  where agricultural and cultural practices were taught, still stand scattered thru the pastures.

The sweet potato fields and Sandalwood of Waika and Kahua impressed the next wave of settlers with their abundance and stewardship.  The Sandalwood forest were harvested and sold as one of the early commodities of post-contact Hawaii.  Subsequent introduction of cattle by ocean voyaging Europeans seeking to establish stores of provisions ended the farms and sandalwood.  Cattle ranching practices were introduced and taught to the early Paniolo in nearby Kahua, where walls of the first corrals, pens and a homestead still stand as relics of those first Paniolo. Kohala Ranch was once part of these pastures. Almost 40 years ago, circumstances and conditions changed for the ranchers.  They sold these pastures to be developed into the  Kohala Ranch we know today

Note old corral walls in background

Hohoho Aloha.    Holidays in Hawaii are lit by the same dreams as those of other places.  All the children get excited about Santa Claus and bring out socks this one time of year because there is no way slippers can hold all the Santa booty.   Businesses slow down as both the employees and the employers take off to share the joys of Island life with family and friends.  The feeling of aloha is even stronger this time of year.

The Big Island holiday season is the time when very special properties come on the market.  The best resort and oceanfront properties are released to the market this time of year.

Mauna Kea Resort adds two very cool properties to its limited inventory of homes and land for sale.   These properties are really one; a stately home on one parcel and the adjacent empty lot.  It’s a very interesting opportunity for the right person.

Forty Nine Black Sand Beach also has this new listing of a great oceanfront lot.  The owners club at 49-Black Sand Beach is quietly and tropically elegant set steps away from the black sands of Honu’apae Bay.  There is also the possibility that I can sell you a great house at Pau’oa Beach…..have a shy seller who would like to sell quietly at the moment.  We may go on the active market in early 2013.

Oceanfront Kailua-Kona has some new, high quality merry season offerings.  There is a very attractive oceanfront home and  a great lot for sale only a short walk away from Keiki Beach at Kona Bay Estates.   A home that more than one oceanfront buyer asked about at Ali’i Point is finally on the market.  There is also a new lot listing a few lots north. Down at the end of Keauhou past all the condos, along a dusty beach road is this very cool Island style home.  Island life has totally different feeling from resort living out here at the edge of Keauhou.

There are many reasons why this is the time of year that typically generates the best quality of Real Estate inventory.  As they say” timing is everything” and then there’s that phrase about “location, location, location”….. The location is Hawaii; the timing is now.  The winter market is shaping up to be one of beautiful choices at good values.  Just the way life should be….

Merry Christmas, Happy Holidays, Happy New Year!

A hui hou!