The Mauna Lani Bay Hotel & Bungalows will close in October for renovations. Since the new owner, ProspectHill Group purchase in August of last year, it has been rumored they would close and pursue “$100m” in renovations at some time in the future. Now it’s a certainty and the 400 current employees will be laid off albeit into a tight labor market which is some assurance of a new job elsewhere. Many of the employees have been with the hotel for 20-30 years so this will be a big change for them. I can only hope that the core group finds their way back to their old jobs after a long layoff! The golf course, spa and racquet club will remain open for the general public with rumors of reduced hours at the spa and racquet club. At least us full timers can still play golf and exercise as usual :) Here is a link to the official announcement to the Mauna Lani owners (PDF) Here is a link to my blog post when the sale was announced in May 2016 Here is a link to my blog post when the sale closed in September 2016 Here i...

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I have often speculated that Counties within the State of Hawaii would eventually start enforcing zoning laws relative to vacation rentals in (R) Residential Zoning and especially in (AG) Agricultural Zoning classifications. It has always been my understanding that vacation rentals of 1 to 30 days were only allowed in (V) Resort zoned property but I’ve often observed REALTORS and buyers openly discussing vacation renting properties outside of (V) Resort zones. A quick scan of Hawaii County rentals on VRBO.com will give you an idea of the many options for vacation rentals in communities like Waikoloa Village which is primarily zoned Residential and even Kohala Ranch which is zoned agricultural including grazing livestock herds. Property owners that have purposely purchased properties in communities that either expressly exclude vacation rentals in their CCR’s, or “understood” that vacation rental activity in their Residential or Agricultural zoned (non Resort zoned) communities was not allowed by zoning exclusions cont...

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I’m frequently asked my opinion of the current real estate market and usually answer back within my response several questions like, “which real estate market on the island would you like information” as all “markets are very particular to their location?” and or “how much time do you have to discuss this topic?”.  We all have a good “rear view mirror” but most people do not have a “crystal ball” to develop future predictions especially for our micro market. Because of this and my love for facts and figures, I often read various publications regarding real estate in general and the Big Island in particular to be able to answer these inquiries.  I often post these to Facebook-sign up here to Follow me.  As us locals like to say-“this isn’t the mainland” and by stating that we mean to say our economics are peculiar and sometimes detached from the other islands and the mainland itself. Please find a few topics of interest to be aware of in 2018!  Underlined topics are linked to more information and...

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The owners of Villages 431 asked me to reduce the price of their home to $1,799,000 in order to expedite its sale. This is a great opportunity to own one of the few detached Alii plans with a net metering solar system that provides a majority of the electrical supply to the house. This home is GOLF COURSE FRONT and now an incredibly priced. This unit is detached like a single family home for the utmost in privacy. Many recent furnishing upgrades- complete inventory upon request. Quality Maryl construction throughout including solid mahogany doors and trim, bronze hardware, cherry cabinets, granite and marble counter tops. The gourmet kitchen includes Sub Zero refrigerator, Fisher and Paykel double drawer dishwashers, Wolf oven and microwave, and a Wolf glass cooktop. The large rear lanai overlooks the Mauna Lani golf course and features an outdoor kitchen including cherry cabinetry, stainless steel BBQ, refrigerator and prep sink. Do not miss the separate laundry room with Kohler laundry sink, Fisher and Paykel washer and dr...

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As we enter the 4th Quarter of 2017 at the end of our summer sales season, I thought it would be helpful to asses the positive market trends so far for the State and island of Hawaii and the US for 2017. Below is a synopsis of some helpful statistics I gathered from the Corelogic and our Multiple Listing Service-Hawaii Information Service. The stats indicate a general positive trend with +6% average value increase nationwide-Year over Year (YOY)-and for most areas of the State of Hawaii and the island of Hawaii also. Regarding the Kohala Coast market, the median sales price of single family homes has started to catch up with condominiums with a year over year increase of +12.36%. Condominiums have leveled out at a +5.16% increase-YOY. Due to lack of inventory in the $560k range-total number of homes sold have decreased slightly YOY-6.47%. Sales volume gives you a clue as to momentum. Both homes and condominiums are up over +21% for SFR and +30% for condominiums-YOY. For particular note, these stats show an above average, ...

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On or about July 24th all new inventory and pending sales were withdrawn by the listing agents for Stanford Carr at Kulalani at Mauna Lani development. As many of you may know, the development’s financing has varied over the years due to the recessionary forces that caused the original developer, Stanford Carr, to halt construction for several years.  Built inventory of approximately 40 units was absorbed during the time period between 2009-2012.  New construction resumed in 2013-2014 and has progressed to the last 4 buildings (20 units) of which 2 buildings are yet to be started (10 units). Newer resale homes in Kulalani offered for sale are still a great value in this community and offer the best construction quality at some of the lowest price per square foot of any community-new or not-in the Mauna Lani.  Most offer golf course views and or back up to the popular, dual pool community center that is shared with Kamilo at Mauna Lani.  I’ll keep you informed when I understand the circumstances surrounding the halt to new...

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Recent news articles including those released for public relations purposes by Prince Resorts provide details of multiple improvements and changes to the Hapuna Beach Hotel as part of the Mauna Kea Beach Resort. Among many news worthy highlights, the owners have recently announced that they are affiliating their hotels with Westin Hotels and Resorts including rebranding the Hapuna Beach Hotel into the Westin Mauna Beach Resort. The owners of the Hapuna Beach, Seibu Holdings, have recently sold a large block of rooms and a large detached “villa” to a California developer who intends to convert the hotel rooms into a “condotel” by combining rooms and offering hotel amenities to the condominium owners and their guests. All of these developments are positive and continue to show the strength of the Hawaii market in not only the continued investment and improvements of these iconic properties but the overall health of the Hawaii real estate market on the Big Island. Click here to search Mauna Kea and Hapuna Beach real ...

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As we enter the 3rd Quarter of 2017 in the middle of our summer sales season, I thought it would be helpful to assess the positive market trends so far for the State and island of Hawaii and the US for 2017. Below is a synopsis of some helpful statistics I gathered from the States largest escrow company-Title Guaranty, Corelogic and our Multiple Listing Service-Hawaii Information Service. The stats indicate a general positive trend with +6% average value increase nationwide-Year over Year-and for most areas of the State of Hawaii. For particular note, these stats show an above average, positive result for my particular market area: South Kohala Resort District: +15.51% Increase in median sales price of single family homes YTD 2017 vs. YTD 2016 South Kohala Resort District. +18.03% Increase in the total number of condominium homes sold YTD 2017 vs. YTD 2016 South Kohala Resort District. +15.61% Increase in median sales price of condominium homes YTD 2017 vs. YTD 2016 South Kohala Resort District. Again and importantl...

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Lau Le’a at Mauna Lani has just closed on the first 3 units in their community after almost 24 months of civil work and vertical construction of their product. Lau Le’a at Mauna Lani features detached and two story duplex plans that all include a small pool and spa. The detached units all face the ocean and feature ocean views over the fairway of the hole #1 of the Mauna Lani South Course. Lau Le’a at Mauna Lani offers the quality and low density the Mauna Lani Resort is known for in the past, raising the bar for the next wave of development within the resort. Quality finishes with a modern, tropical, esthetic accentuate the fine finishes including mahogany cabinets and trim, natural stone floors and luxury appliances and fixtures. -Click here to view Lai Lea’s floorpans and renderings. -Click here to see Lai Lea’s interior finishes. -Click here to view the current inventory in Lai Le’a at Mauna Lani. -Click here to view the Lai Lea site plan. -According to the developer’s website and developer’s rep...

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The developer’s representatives report approximately 45 total units left to sell in the community with 8 units in finished and ready to sell product.  Given Ka Milo’s historic absorption rate, I would estimate the community’s new home inventory will be sold out in December 2019. Here are the unit types and # of units to sell per floor plan: Detached Units with Pool/Spa 2: Hoku A / Plan 1 1: Hoku B / Plan 2 5: Makani / Plan 3 Duplex Units 16: Honua A / Plan 5 21: Mahina / Plan 4 Ka Milo’s elegant homes – with their double-pitched tile roofs and full-width lanai doors – are surrounded by the rolling greens and fairways of Mauna Lani’s North Course. Some floor plans enable homeowners to walk out of their property and go straight into a private pool and spa. Ka Milo’s kamaaina-style architecture testifies to the rich living cultural heritage of Hawaii’s royal past, with all the amenities of today’s easy and convenient living. Ka Milo offers an interesting collection of paired homes and single-...

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