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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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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The developer’s representatives report approximately 50 total units left to sell in the community with 11 units in completed inventory for sale and 1 pending sale. There are 4 resale opportunities also. Kamilo’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. Kamilo’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. Kamilo offers an interesting collection of paired homes and single-family condominiums, and has five different floor plans to choose from. In addition to being set amidst magnificent golf courses and majestic mountain views, Kamilo also offers some lucky owners views of the calm Pacific Ocean. January 2017 Inventory: 5-Honua “A” 3br/3ba Duplex 1653 s/f $855...

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Hawaii island showed strong growth in both unit and sales volume with West Hawaii luxury homes driven by strong sales in new inventory at the new Kohanaiki Golf and Ocean Club community near the Kona-Keahole airport. Click here for more Kohanaiki information. Pacific Business News reports, “Kohanaiki finished the holidays with just over $30 million in sales with another $12 million currently in negotiation, and also completed a $65 million clubhouse designed by architect Shay Zak of Zak Architecture. The 67,000 square-foot space includes a cigar lounge with a poker table and scotch bar, a collection of more than 200 artworks and artifacts, a private brewery, a four-lane bowling alley, a 21-seat movie theater and a holistic spa designed by Tracy Lee.”  “California-based IHP Capital Partners Inc. and Kennedy Wilson, Inc. developed the 500-home project, which was halted in 2008 due to the recession. The 450-acre, private residential community began sales in 2013.” Hawaii Island Experiences Positive Unit Sales Growth in ...

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Existing home sales fell 2.8% in December to an annualized rate of 5.49 million units. November’s pace of 5.65 million units was the strongest monthly rate in nearly 10 years. 1 For the year, existing home sales numbered 5.45 million units in 2016, up 3.8% from sales of 5.25 million units in 2015. Last year had the highest level of sales since 6.48 million existing homes were sold in 2006. 1 The number of existing homes on the market in December fell to 1.65 million units, its lowest level since NAR began tabulating housing inventory in 1999. That’s a 6.3% drop from the housing inventory in December 2015, leaving the months’ supply figure at 3.6 months. 1 The median price of existing homes sold in December was $232,200, up 4.0% from December 2015. Over the last three years, the median price has increased at a 5.5% average annual rate. 1 New home sales dropped 10.4% in December to an annual rate of 536,000 units. Sales climbed 12.2% in 2016, to 563,000 units from 501,000 units in 2015. 2 The median price of ...

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