Archive for the ‘luxury resort condos for sale big island’ Tag

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

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Monthly Mini Concert Series – Hoku Pa’a Trio at Queens’ Marketplace at Waikoloa Beach Resort    Leave a comment

Monthly Mini Concert Series – Hoku Pa’a Trio at Queens’ Marketplace at Waikoloa Beach Resort!


FREE EVENT – Come for free LIVE MUSIC, 6:00 – 8:00PM at the Coronation Pavilion at Queens Marketplace. 

When: Saturday, September 16

Time: 6:00-8:00 pm

Where: Queens’ MarketPlace Coronation Pavilion

Photo + Article courtsey of: http://queensmarketplace.net

Karen E. Bail

808-936-4640

Fax: 808-883-2263

RB-16072

kebail@aloha.net

http://www.KarenBail.com

Island of Hawaii Sweet Spots on the Sea   Leave a comment

 

   North Kona

The rush of the winter market has subsided for the moment…or has it? The past few years have shown that the snowbird market is not necessarily the best time for the astute buyer to buy Big Island property, especially the “trophy” properties along the ocean and in the resorts. The last weeks of April into the first week of May are experiencing a vigorous buying frenzy. Properties listed in December anticipating ambitious appreciation have now languished long enough that the serious sellers are now motivated to move on and let go. So these oceanfront Big Island properties may now be ripe to pick up at realistic market prices.

The first one is south of and adjacent to Waikoloa Beach Resort.  Click here to see.   It is 27 acres directly on a white sand beach.  The conservation designation may limit what you can build to 5,000 square feet of improvements, conservation zones vary based on each locations’ unique classification.  But waking up to the blue skies, seas and white sands under a warm sun is heavenly.  It is priced well at $7,000,0000 when compared to the slightly smaller parcel of 21+ acres a bit more to the south and less easily accessed property to the south asking $20,000,000, click here to see this listing

Go North!  North Kohala now offers this totally different oceanfront world (Click here), one where cliffs meet the sea in front of rolling acres of North Kohala pasture lands.  The views both inland and seaward are awe inspiring…really.  If this moves you, you have to check out my listings along the shore that have just seen a significant price reduction.  This oceanfront acreage graced by a rare stand of indigenous Hala and the adjoining virtual oceanfront parcel together equal almost 50 acres.  They can be purchased separately or together with the Jim Cutler designed home on the mauka boundary to create a 73+-acre oceanfront estate The seller promises a nice discount if these three are purchased as one. 

Drive south of Kona to historic Kealakekua Bay.  Along its south shore is a secluded, gated road; Keawaiki.  Go further down this Road and you will come to Puu Honua o Ho’onaunau, also known as the City of Refuge. Spent a lot of time here lately in this magical place with clients who purchased a super sweet oceanfront home last month.   There are very few places like this where one watches lauipala, (yellow tangs) swim in clear ocean water from the shore, seeing them as clearly as if you were in the water with them.  Which is really where you should be; swimming, surfing, kayaking and playing in the warm waters of this black sand beach bay.  This property, click here, is a true Kama’aina home on almost one and a half acres.  You have to wonder how much you will use the pool when you have the best ocean waters in the world to play in a few steps away. 

Thought since we are talking ocean you might want to think about this property that just saw a nice price reduction.  Here on Kaiolu Drive off Ali’i Drive (click here) is a double lot that is truly oceanfront though technically not (call me for the explanation). Then there is Puako….one of my favorite homes is still for sale. It is well priced at $5,950,000 given that this winter saw a sale of another home on the ocean here for $7,250,000. The cute little cottage across the street on the mauka side of Puako Beach Drive is also still for sale…there has been one price reduction so far, maybe an offer closer to the most recent mauka sale would now be appreciated. 

Lets not forget the lovely oceanfront Pauo’a Beach at Mauna Lani.  This sparkling new home feels as much like oceanfront as non-oceanfront can.  The resort location allows one the opportunity to walk to many of the nearby amenities.  It should be finished by next month.

Enjoy your week!  Stay well, be healthy and call if you want more information or to schedule an appointment.  A hui hou

Puako Puako Puako Love Puako!!   Leave a comment

OLYMPUS DIGITAL CAMERAIt’s that time of year not only for Christmas shopping in malls and on-line for the usual gifts…but also time to buy some of the finer Big Island Properties.  Sellers present some of the best properties to the Real Estate market at this time of year in anticipation of the influx of snow birds..the kind that don’t fly in on their own wing power …the kind that had one too many winters without a tropical escape.  So it’s never a surprise to see a better caliber of Real Estate, in all categories, come on to the market during the holidays.

We had a large swell come in at the end of last week and another scheduled for Christmas Day.  The surfers are ecstatic!  Winter waves are here!! DSCF6561

While the big waves rolled in, this home was listed.  It has to be one of the nicest homes in Puako…built to the standards required by Resort covenants and restrictions that do not exist in Puako.  One of the attractions about Puako, as you know, is the freedom to conform only to your tastes in a home!  Yet you can see that the homes recently built or under construction are pretty substantial especially compared to the old fishing shacks originally built here.  There are still enough of these to retain the character that makes Puako….Puako.

The mauka  property that created so much excitement has yet to close.  The other new listings of recent weeks did not generate the stir the Chin property did…was it the over sized lot?  The price?  Probably both.   All those offers in less than a week on the market was unexpected by the seller. 

 There were two sales in the last week. This home just closed today after on the market 472 days.  It was originally listed in May of 2011 for $5,650,000.  After not selling, it retired from the market for a bit and a year or so later it reentered the market in August of 2012 at the list price of $4,895,000.  The final sales price is $4,450,000 which, when one compares value based on quality of elements and design,  validates the prices of the new makai home listings.  And, miracle of miracles, ( a miracle of the season?)the multi-parcel lot next to the Sullivan Estate finally sold after literally years on the market as a bank owned property.  Not sure that the flooding issues on that property from all directions; underneath (high water table), the ocean side when there is high tide or surf and the mauka side when it rains, were mitigated. 

 

The property formerly known as One Puako, now Puako Beach Lots plans to reconfigure back to the 7-smaller lots proposed as One Puako from the current 3-lot configuration.  Prices were lowered some.  High prices and subsequent lack of interest as evidenced by no sales proves that market value per square foot does not rise equally with size.  Could  be a great time to buy this property before the 7-lot reconfiguration is completed.  It is the perfect site for a family compound with the 3-lots ready to be built on.  My thoughts are that there could be a significant discount for a sale “as is” to one purchaser!

As always, call me to set up an appointment or to talk about any of these properties(or elsewhere on the Big Island or Oahu).  Hope you spend the next few days happily surrounded  by those you love enjoying the holiday season in whatever way you choose to celebrate.  Just be safe, have fun, stay healthy, stay happy and a hui hou! 

The Big Island Oceanfront from Puako to Keauhou   Leave a comment

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

The Glue Network   Leave a comment

Have you ever heard of the Glue Network?  It is a virtual bulletin board to raise funds for very specific projects.  Got to the site and check it out, very interesting.  Its an amazing how a little can add up to a lot…to big differences in lives.  Donate yourself or buy gift cards for friends.  Let then pick which project they want to fund with your gift.  Perfect gifts for any occasions.  Amazing what can be accomplished!

Big Island home prices up 7.9% in August, but condo prices slumped – Pacific Business News   Leave a comment

Big Island home prices up 7.9% in August, but condo prices slumped – Pacific Business News.

BIG ISLAND HOME PRICES UP

News like this is always great to hear.  Looking a little deeper we see that the home sale price average is up just about everywhere due to shrinking inventory and increasing demand.   Mauna Lani Resort and Puako had some very large sales in the month of August.  However, the diversity of the markets on the Big Island does not translate into an evenly distributed 8% increase.  Just as the nearly 11% slump in condo prices does not equate to  a decline in condo prices at Mauna Lani Resort, Waikoloa Beach Resort or Mauna Kea Resort.  There we are seeing prices creeping up, sometimes leaping, as inventory shrinks and prices naturally head north.  There are fewer distressed properties hitting the market and when they do, the rising of the market price floor brings these prices up as well.

MARKET HEATING UP

For the first time in years we are seeing very competitive markets.  Multiple are offers coming in and less discounting in all sectors of the market.  Kailua-Kona is the best example of this on the Big Island.  There FOR SALE inventory is almost half the amount of homes in escrow (pending sales).  We seem to be following the recent Statewide trend where homes that have been on the market as long as 18 months are now receiving multiple offers….bidding wars have returned.  The super low, and I mean SUPER LOW, interest rates may be the call to action!!  As the reality sinks in the the economy has been slowly recovering for years and is gaining momentum, fewer and fewer buyers are taking the wait and see approach.  They don’t want to be wishing next year that they bought this year.

Because statistics lump all of the Big Island together;  properties from Puna to Hualalai ResortKukio and all that lies in between, the rate of increase will be higher on the West Side and lower on the east side.  This being my second Big Island Real Estate Roller coaster ride, I feel pretty comfortable encouraging buyers to leap now on that property of their dreams.  Take advantage of these extraordinary low interest rates before the tide changes….rolling in with both higher prices  and higher rates.  Leap now while the water is warming up, before it’s hot enough to get burned!