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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Comments Off on Hapuna Beach condotel update-2nd Quarter 2017

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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Comments Off on Ka Milo at Mauna Lani-Update July 2017

Kulalani at Mauna Lani offers the best value for a higher density community in Mauna Lani Resort featuring 4 and 6-plex buildings. New Construction Update Developer’s sales reps report that the last 3 buildings with 16 units total will be under construction or finished before the end of 2017. These are buildings 13, 14 and 15 composed of 2 six-plex buildings and 1, four-plex building. None of these units have been released for sale as of July 6, 2017. These last buildings are at the back of the community offering the least amount of through traffic and great views of the Mauna Lani North golf course. There are 21 total units to sell and complete the project. Based on sales from the previous 6 months the absorption rate is 1.5 units a month. By my best estimation the project will be sold out sometime at the end of the summer 2018. The Kulalani sales models are also for sale-units 102 and 104. Unit 104 is sold furnished and unit 102 is sold unfurnished. Kulalani at Mauna Lani New Home Price List Kulalani at Mauna Lani ...

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The Villages continues to be an exceptional community comprised of 130 units on approximately 30 acres.  Four floor plans are available-2 duplex plans and 2 freestanding condominiums.  Currently there are 17 units for sale, slightly higher than the typical 10% of built inventory but late spring can be a slow season for sales. Availability includes, 3-freestanding Alii plans with pools, 2-freestanding Kahili plans with pools and one without a pool for sale.  Duplex units includes 8-Maile plans and 3-Lehua plans available . The Villages at Mauna Lani were developed by Mark Richards via his Maryl Pacific construction company in 2003-2007.  The Shops at Mauna Lani were also a part of his development scheme but the land was purchased by Bill Borkin and subsequently developed in 2004-6. Nearly 20 acres of the 30 total acres are planted in lush landscape including large, Monkey Pod and Royal Poinciana trees.  These canopy trees coupled with the Shower trees and other plants make the Villages a lush, low density community.  De...

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Comments Off on Villages at Mauna Lani Market update May 2017

The Shops at Mauna Lani has sold to Phoenix, Arizona based AT ML Leasehold HI, a holding company for Arciterra Companies, LLC, that specializes in retail developments across the mainland US. Their website lists properties in many states with both single and multi user retail centers. The Shops at Mauna Lani was originally purchased from the Mauna Lani developer Tokyu by Mark Richards via his MARYL development company in the early 2000’s as part of his purchase of land for The Villages at Mauna Lani. Bill Borkan purchased the property from MARYL and subsequently developed what is now The Shops. Bill Borkan’s family sold to the new owner on 5.12.17. The Shops at Mauna Lani feature tenants include Tommy Bahama’s Clothing Boutique and Restaurant, Ruth’s Chris Steak House and Foodland Farms Grocery Store. Exciting news for the current tenants and an opportunity for new tenants and new offerings for the resort owners and their guests-possibly! Arciterra’s website states the following: Based in Phoenix, Arizona, Arciter...

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Comments Off on The Shops at Mauna Lani-Sold to new owners-May 2017

As we exit the 2016/2017 Winter/Spring, high season for real estate sales, I thought it would be helpful to assess the positive market trends for 2016/2017/2018.  Here is a synopsis of some helpful statistics I gathered from Title Guaranty, Corelogic and the Hawaii Information Service (Multiple Listing Service).  Please scroll down or click the links for more detail.  If you would like a more detailed analysis of your community and or your particular property please click here to contact me! Title Guaranty reports Canadians comprise the most foreign buyers to the Big Island even though buyers from Japan purchase the most properties statewide.  The positive news regarding Canadian purchases is despite their currency woes and low prices for their energy products.  Seems as though a few Canadians are unaffected or the lure of Hawaii from the cold north is too hard to resist. Corelogic reports a +7.1% average home price increase for first quarter 2017 compared to 2016 for the entire USA.  They also report +62 consecutive posit...

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Comments Off on Real Estate Market Update Big Island May 2017

Top U.S. and Foreign Buyers of Hawaii Property (PDF) | Top Buyers by Region (PDF) Canadians and Japanese buyers continue to rank as the top 2 foreign buyers of Hawaii Island and statewide properties.  Despite the current Canadian currency devaluation against the American dollar, Canadians continue to purchase property primarily in the South Kohala resorts.  Japanese buyers follow a similar pattern purchasing in South Kohala and extending their geographic buying pattern to Kona.  Japanese buyers purchased fewer properties than the Canadians but the dollar volume of their purchases were almost 100% higher therefore the purchase price of each property was higher. Californians continue to dominate our mainland buyers followed by fellow west coast states Washington and Oregon.  Texas and Florida buyers were also purchasing properties in the vibrant Hilo, Puna and Kau districts where unit volume was the highest in 2016 for Hawaii Island.  Thanks to Title Guaranty for great graphics and stats.

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Developer’s sales reps report that the last 4 buildings with 30 units total will be under construction or finished before the end of 2017.  Building 12 is under construction currently and has 1 unit under contract.  The remaining buildings, 13, 14 and 15 will be released and open for contracts soon.  The last buildings are at the back of the community offering the least amount of through traffic and great views of the Mauna Lani North golf course. Kulalani at Mauna Lani lies across 25.067 lush and manicured acres, along the fairways of the Championship Francis H. I'i Brown North Golf Course. It's the perfect setting for the 2 and 3 bedroom town homes, with their vaulted ceilings and private gardens.  Kulalani features 5 different floor plans located in 24 buildings for a total of 126 units.  Interior features include 8' interior doors, extensive trim, stone flooring and GE Profile appliances.  These 2 and 3 bedroom homes contain separate laundry rooms or closets, granite counter tops, sliding/pocketing doors, outdoor BB...

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