Buyers are regaining control on the Big Island as median sales prices continued their decline from recent highs while days on market increases. Since July 1st, of the 678 combined single-family homes and condos listed for sale, 21.6% have seen a price reduction. Properties that are priced accordingly and present well are continuing to sell quickly. Brief Overview: Island of Hawaii Unit Sales Stats for July 2022 VS. July 2021 TOTAL SALES Single Family Homes – Down 31% in sales - totaling 180 units. July 2021 saw 261 sales. Condos – Down 23% in sales. 63 total closed. Land – 211 total sales of land offerings representing a decrease of 27% when compared against 2021 sales for July. NEW LISTINGS Single Family Homes – Down 7% with 238 units. Condos – Down 15% for new listings. 60 units in 2022 Land – Down 17%. 256 vs. 310 for 2021. Single Family Homes Specific Stats: Median Sales Price: $456,000 in July 2022 an increase of 7% over median prices from July 2021. Days on Market: 19 days on market for July 20...

Filed under: Blog, Newsletter, Real Estate by Rick Oliver
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Year to date, the Big Island real estate market has remained very consistent with little fluctuation in total sales, median sales price and days on market. Island-wide, the median sales price for condos ($567K) surpassed single-family homes ($523K) in May 2022, with a 26% increase in price compared to this time last year, and with 13% fewer total sales (94) for the month. Given its vast size, it's important to consider the neighborhood level nuances whether you plan to buy or sell here. Brief Overview: Island of Hawaii Unit Sales Stats for May 2022 VS. May 2021 Single Family Homes – Down only 1% in total sales - totaling 256 units. Condos – Down 42% in sales. 94 total closed. Land – 287 total sales of land representing an increase of 30 units (+12%) when compared against 2021 sales for that month. Single Family Homes Specific Stats: Median Sales Price: $523,000 in May 2022 an increase of 5% over median prices from May 2021.. Days on Market: 12 days on market for May 2022. Down 79% from May 2021 which saw 57...

Filed under: Blog, Hawaii Life, Real Estate by Rick Oliver
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My swim coach, Dave Prutow and friend Rachel dive together frequently and capture amazing sea life in action. Check out this video and article regarding Dave untangling a juvenile, white tip reef shark from the reef. It had been hooked by typical fishing gear that subsequently wrapped itself and the shark around the coral. As my friend Ray likes to say, “Humans”….:( https://youtu.be/XLQoSCFPD2E

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The Big Island real estate market held steady as median sales prices increased 9% year over year for single-family homes ($517,000} and 45% for condos ($689,900}. Across the island, a lack of available properties for sale continues to fuel buyers' demand as properties continue to sell as quickly as they come on the market. Brief Overview: Island of Hawaii Unit Sales Stats for April 2022 VS. April 2021 Single Family Homes – Down 17% in total sales - totaling 238 units. Condos – Down 42% in sales. 87 total closed. Land – Only 261 total sales of land representing a decrease of 25% when compared against 2021 sales. Single Family Homes Specific Stats: Median Sales Price: $517,000 in April 2022 an increase of 8% over median prices from April 2021.. Days on Market: 40 days on market for April 2022. Down 17% from previous year. Condominium Specific Stats: Median Sales Price: $690k in April 2022. An increase year over year of 42% from 2021. Days on Market: 17 days on average in April 2022. A change of min...

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The Big Island continues to face inventory challenges as indicated by several key metrics. With a lack of properties for sale, total sales were down -10% for single-family homes (SFH) and -40% for condos compared to the same time last year. While sales may have dropped, median sales prices continue to ascend higher as SFH increased 26% to $517,500 and condos increased 30.3% to $650,000. Across the island properties are selling in just under 10 days! Brief Overview: Island of Hawaii Unit Sales Stats for March 2022 VS. March 2021 Single Family Homes – Down 12% in total sales - totaling 283 units. Market remains supply restricted. Condos – Down 40% in sales. 83 total closed. Market is supply restricted. Again, no surprise. Land – Increased to 318 total  representing an increase of 5%. This shows positive unit growth in 2022 versus 2021. Single Family Homes Specific Stats: Median Sales Price: $515,000 in March 2022 an increase of 25% over median prices from March 2021. Days on Market: 31 days on market for M...

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Two months into the year and the Big Island real estate market continues its competitive streak. Even with interest rates creeping up which puts pressure on affordability, properties are selling as fast as they come on the market. For both single-family homes and condos, there were more sales than new listings driving months of remaining inventory towards record lows. Here is a brief overview: Island of Hawaii Unit Sales Stats for February 2022 VS. February 2021 Single Family Homes - Down 5% in sales. Total of 225 units. Market is supply restricted, so not a surprise. Condos - Down 50% in sales.  84 total closed. Market is supply restricted. Again, no surprise. Land - Increased to 207 total closed. Market is less supplied restricted and shows this with positive unit growth in 2022 versus 2021. Single Family Homes Specific Stats: Median Sales Price: $515,000 in February 2022 a modest decrease of 2% over median prices from February 2021. Days on Market: 14 days on market for February 2022. Condominium Speci...

Filed under: Blog, Kohala Coast Luxury Resorts, Newsletter, Real Estate by Rick Oliver
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I swim on Sunday mornings with a group at Hapuna Bay State Park. Most of the participants have known each other for decades and are seasoned in the open water. During the COVID lockdown and subsequent cease to our regular Sunday church service, I started to swim with the group. It's been a blast getting to know everyone and sharing a great start to the week on Sunday mornings. We swim from the center lifeguard tower north toward a cove located at the end of the bay and in front of the Hapuna Beach Hotel. We then swim south, 1/2 mile across the bay to a beautiful cove nestled amongst the rocky cliffs where shore fishers are typically present trying to catch an Ulua, Papio, or other large reef fish that hug the shorelines in deeper waters. The round trip is 1.2m if you care to count and or a 40-minute beautiful, fast-moving "snorkel." The bay's sand bottom contrasts with the coral-infused views where I surf at Makaiwa Bay. The sand forms rivulets that generally run parallel to the beach and offer an excellent directional beacon ...

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I just put TWO of our new homes in Nohea at Mauna Lani into escrow. Both homes are slated for construction finish in December of 2022. One property is located on one of our premium lots, #13. Lot 13’s location provides plenty of privacy near the end of the north cul-de-sac of Akea Place. The rear faces the Mauna Lani North Course’s 2nd fairway. Lot 6 is also a great location offering no rear neighbors and some filtered golf course views. These homes—not condominiums—are resort quality and feature two separate guest suites and three other bedrooms, making five sleeping quarters and four full bathrooms. The cabinetry, elaborate hardwood trim, hardwood floors, and hand-troweled, Old World stucco exteriors are unusual for this market. Lush landscaping also features a grass and paver driveway, adding more “green” scape where you would expect hard surfaces. Luxury features include a Chef’s kitchens with Wolf and Subzero appliances, saltwater pools and spas, and plenty of hardwood trim and other luxury extras to make this...

Filed under: Blog, Kohala Coast Luxury Resorts, New Developments, Real Estate by Rick Oliver
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It’s never been a better time to SELL your property along the Kohala Coast-Call me to LIST AND SELL!!!! When comparing January 2022 and January 2021 one has to consider that January 2021 was the beginning of explosive market conditions. The most explosive statistics are the increase in average sales prices of CONDOS (+23%) and VACANT LAND (+27%)-see below! January 2021 was one of the first months where Hawaii lifted a majority of travel restrictions. A Better comparison is probably to the 2019 real estate market but for simplicity sake, here are some “fun facts” comparing January of 2022 vs. 2021 for the entire Hawaii Island for all classes of real estate. Watch the full video for more interesting stats and review the complete report for other districts. Subscribe here to receive my blog posts and monthly Newsletter. Click here to search Big Island Real Estate Island of Hawaii Unit Sales Stats for January 2022 VS. January 2021 Single Family Homes- Down 31 sales to a total of 212 units from 243 units in 202...

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December 2021 continued the positive trend in real estate sales on the Big Island. This paragraph states it best from our Coldwell Banker Market Report. "In closing out the year, homes are selling at an astonishing rate across the Big Island. Condos sold 38 days faster in December 2021 compared to December 2020, averaging just 18 days on market. Meanwhile, single-family homes sold in 42 days and at a median price of $536,000, a 12% increase compared to the year before. The median sales price for land also continues to rise, with a 52% increase from $31 ,500 in December 2020 to $48,000 in December 2021 ." See other facts and figures presented by watching the short video presentation or call me to discuss your particular community and it’s probable rising value.   Subscribe here to receive my blog posts and monthly Newsletter. Click here to search Big Island Real Estate Buyers there are still offerings available but you have to act fast when they become available. Call me to discuss a winning offer strategy! &n...

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