Hawaii remains world-class for the vacation-seeking public, especially after the COVID lockdowns of 2020. Interestingly, we have observed the most significant influx of east coast and midwest visitors to the resorts we remember in the last 20 years. These visitors, combined with the typical west coast tourists, are causing 90% occupancies, packed restaurants, and the usual island activities like helicopter and boat tours. The Transient Accommodations Tax scheme, which funds the general State budget, is changing for those of you who own Vacation Rental Properties here in Hawaii. Hawaii state lawmakers passed HB 862 CD1 which would divert to the State government's general fund (GF) $103 million from the State's transient accommodation tax collections (TAT) that otherwise would have gone to the counties. The tax is 10.25% charged and collected for all vacation rental accommodations six months or less, including Hotels and Short Term Vacation Rentals. Instead, the State will keep 100% of the tax collected and allow each County to c...

Filed under: Kohala Coast Luxury Resorts, Real Estate by Rick Oliver
Comments Off on The Transient Accommodations Tax

Hawaii Island Real Estate in all classes including land continue to be strong sellers in July 2021.  I believe the best comparison is between 2019 and 2021 statistics as 2020 was a “shut down” year with few buyers or sellers actually on island and able to make decisions while present within the market place.  Post shut down buyers continue to pour in with vacation rentals at peak occupancy similar to what we typically have during the winter, snow-bird season.  Current owners usually list and trade properties during this season but winter 2021 has stretched to late summer 2021 and I see no end in sight for demand with very limited supplies of inventory. Sellers-Please contact me to list your property.  The market is incredible for sellers but may not remain so for too long!!! I compared stats regarding July 2019 VS. July 2021 using data from Hawaii Information Service, our MLS on Hawaii Island.  2019 was a great sales year but this year is on another level for South Kohala properties.  Lack of inventory is holding sales in ...

Filed under: Real Estate by Rick Oliver
Comments Off on July 2021 Island of Hawaii Real Estate Update

3-Car Garage, End Of Cul-De-Sac, 1800 plus square feet I just put into escrow after 30 days on the market, the largest, single Level plan in the newer section of Sunset Ridge. This home is located at the end of the cul-de-sac, and features heavy landscaping and rock walls. There is plenty of storage for cars and toys in the 3-car attached garage. Upgrades include Central air conditioning, completely insulated, and stainless steel, kitchen appliances. The home has never been rented by the current owner and has been rarely used in last 2-3 years. The left side and rear yard, behind the garage, offer plenty of room for expanding the landscape or for a pet area. The great-room plan allows for views to the landscaped back yard and 3 possible eating areas surrounding the kitchen including a breakfast bar and nook plus a dining room. Outdoor living and dining are easily accessible from the great room or the master bedroom. The guest bedrooms are large enough for queen and king sized beds and have wall closets for plenty of storage....

Filed under: Kohala Coast Luxury Resorts, Real Estate by Rick Oliver
Comments Off on In Escrow-Newer Sunset Ridge-3-Car Garage

If you head up or down Waikoloa Road near the existing shopping center a new shopping center addition is almost finished which will feature among other amenities rental apartments.  They are very distinctive looking featuring a 3-story building with an almost flat roof with what is obviously the same floor plan stacked with a small foot print.  What is unique is the units under construction are located at the highest elevation and should allow for some coastal ocean views and all will have windows on 4-sides of the apartment.  The website states rents will be $2450 a month which is $1225 a bedroom where the occupants will share 1-bath if multiple, unrelated parties may lease.  I’m sure this was part of the calculation as this project has been “billed” as “workforce” housing in the past. This type of housing is needed and has a unique location within a commercial development and within steps of two major shopping centers and a short drive to the major resorts. Website Link:  https://www.loftsatwaikoloa.com/ ...

Filed under: Real Estate by Rick Oliver
Comments Off on Lofts at Waikoloa Village

The Hawaii Island real estate sales market was boiling January through April and has now boiled “dry” with no water left in the pot. Pending sales are stalled due to the lack of inventory for all classes of real estate except land and developed lots. The year-over-year statistics do not reveal much since the few sales we had in June of 2020 were “sight unseen” or “local” buyers due to the COVID travel lockdown. The most revealing statistics comprise a comparison between 2021 and 2019 sales for June and year to date. In June of 2019, 424 closed sales of all real estate classes and 2500 total sales year to date. In 2021 there were 733 closed sales and 4060 total sales year to date. That’s a 70% increase in total units sold island-wide year to date compared to 2019. The hottest market is for single-family homes on the East and south side of the island, where prices are lower. Single-family homes in the Kona market are doing very well also. Check out the links to the Hawaii Information Service Statistics for your area of int...

Filed under: Real Estate by Rick Oliver
Comments Off on Market Update – June 2021

The ponds at Makaiwa Bay-Makaha Maintenance and Renewal One early morning last week, on our early morning walk-and-talk, we noticed Oscar and crew disassembling the water sluiceways used to regulate fish and water flow in and out of the oceanfront pond at Makaiwa Bay. It was a super low tide caused by the Summer solstice event on June 20th, producing very high tides and super-low water levels on low tide. I can only suppose that the crew's morning cleaning and renovation activities were planned for this low-tide event, evidenced by the numerous and rarely exposed rocks, making it easier to remove the wooden poles and small boulders that compose the Makaha. These Makaha are natural filters that regulate the fish size and water that surge gently through these gaps in the fish pond wall. The primary Makaha has a secondary, perforated gate between this natural sieve of sticks and boulders and the pond itself. This gate is 15' away or so and can be raised and lowered using a rope and pulley, creating an area just behind the sea wall ...

Filed under: Real Estate by Rick Oliver
Comments Off on Do Not Feed The Eels

Sunset Ridge 3-Car Garage End Of Cul-De-Sac 1800 plus s.f. Hurry to see the largest, single Level plan in the newer section of Sunset Ridge. This home is located at the end of the cul-de-sac, and features heavy landscaping and rock walls. There is plenty of storage for cars and toys in the 3-car attached garage. Upgrades include Central air conditioning, completely insulated, and stainless steel, kitchen appliances. The home has never been rented by the current owner and has been rarely used in last 2-3 years. The left side and rear yard, behind the garage, offer plenty of room for expanding the landscape or for a pet area. The great-room plan allows for views to the landscaped back yard and 3 possible eating areas surrounding the kitchen including a breakfast bar and nook plus a dining room. Outdoor living and dining are easily accessible from the great room or the master bedroom. The guest bedrooms are large enough for queen and king sized beds and have wall closets for plenty of storage. The laundry room features a work...

Filed under: Blog, New Listings, Real Estate by Rick Oliver
Comments Off on For Sale – Newer Sunset Ridge Home

I just put into escrow this stunning, private, 5-acre, gentleman's estate is tucked away and bordered on one side by a seasonal stream in a forested setting. The property includes a mature landscape of organic fruit orchard, banana grove, blessed with a healthy strand of red flowering lehua ohia, and a large stocked pond, providing a relaxed, peaceful environment. The property is conveniently located to both the Historic Plantation town of Honokaa, 3 miles away and all the amenities of Waimea 10 miles away. The 2,714 sf plantation-style primary residence features two master suites with hardwood flooring and quartzite stone ensuites, both of which have french doors leading out to the 12 ft deep wrap-around lanai- indeed lending itself to indoor/outdoor living. The home has 20 ft open beam wood ceilings, eight skylights providing natural lighting, and a real cooks kitchen, with DeWills, soft-close, cherry wood cabinetry. The great room features a dining room with a built-in wet bar, wine fridge, along with the added ambiance of a wo...

Filed under: Blog, Real Estate by Rick Oliver
Comments Off on In Escrow-Kapuna Road in Scenic Ahualoa

In May 2021, the Big Island continued to experience major movement in total sales and median sales prices when compared to last year's market, with the single-family home price up 35% to $499,500 and the condo price up 38% to $439,000. Homes this month sold on average 41 days faster compared to May 2020, and vacant land inventory increased by 29% with 61 new listings available on the market compared to the month before. A video presentation of the May 2021 monthly stats is now available on YouTube. The video highlights total sales, median sales price, news listings, and days on market for single-family homes and condos island-wide for May 2021 compared to 2020.

Filed under: Blog, Newsletter, Real Estate by Rick Oliver
Comments Off on Market Update May 2021

I just put into escrow for one of my buyer clients Kohala Ranch Lot 100. This 3-acre lot in The Heathers section of Kohala Ranch offers an existing curb cut and driveway grading onto a level building pad. The buyer and I are both in the development and building business and recognized quickly the advantages and potential reduced costs and time this lot had to offer relative to site work. It's one thing to buy a lot or acreage. It's a whole other set of expenses and engineering to build a house on the land, as the total cost of land plus civil engineering and grading expenses can be prohibitive. In this case, the existing grading allows a short driveway and an easily buildable, flat, and large house site. The utilities also have a short run from the roadway, which also reduces costs for the power, cable, and water line. Wastewater for all Kohala Ranch lots is an on-site septic system, so the engineering for this system will need further study. Sales of land and developed lots are now starting to pick up as homes and condos, espec...

Filed under: Real Estate by Rick Oliver
Comments Off on In Escrow – Kohala Ranch Lot 100