Positive News For Sellers!! The Island of Hawaii real estate market continues to churn out sales in lessor numbers and volumes than 2019 but Median Sales Prices have not declined, Year over Year, for the first 9 months of 2020 despite the virus pandemic which is limiting travel to Hawaii. This is positive news for sellers! Sellers who choose to sell to the limited number of buyers in the market are not experiencing any price declines. It is a seller’s market in the resort areas for condominiums +/-$1m. If you do not read past this point in my blog post, look at the Year over Year stats for South Kohala. All classes of Real Estate median sales prices are positive. Check out the South Kohala Land sales stats, they are extremely positive. I have always said to my clients that South and North Kohala land is a bargain and it looks like it is finally due for a positive run. Typically this signals that buyers are not finding value in already constructed residential product and they buy land in order to build and create value for the...

Filed under: Real Estate by Rick Oliver
Comments Off on October 2020 Market Update

Positive News For Sellers!! The Island of Hawaii real estate market continues to churn out sales in lessor numbers than 2019 but Median Sales Prices have not declined, Year over Year, for the first 8 months of 2020 despite the virus pandemic which is limiting travel to Hawaii. This is positive news for sellers! Sellers who choose to sell to the limited number of buyers in the market are not experiencing any price declines. It is a seller’s market in the resort areas for condominiums +/-$1m. If you are reading this and want to discuss listing your property for sale, I look forward to hearing from you!! Summary Report: Island Wide The month of August, 2020 and first 8 months of 2020, year to date median prices are generally positive for home and condo values even though unit volume and sales volume are down compared to 2019. August 2020 Condominium median sales prices for the month of August 2020 compared to August 2019 were up +46.15% and +11.35% for Homes. Vacant land was down -10.83%. These median sales prices are positi...

Filed under: Real Estate by Rick Oliver
Comments Off on September 2020 Real Estate Update

I just CLOSED a beautiful, large, three-bedroom, three-bathroom townhome in The Islands at Mauna Lani. This floor plan features three master-like suites, all with ensuite baths and one with a soaking tub. The selling owner renovated the home's kitchen and master bath and is providing the property furnished. The Islands at Mauna Lani were conceived to be a low-density, "island" of homes surrounded by water. It was the Tokyu Corporation's vision to bring the ocean experience inland one mile in the early 1990s and develop 46 townhomes in a duplex and four-plex configuration, all with large, 2-car garages and large lanais off the upstairs master suite and downstairs living areas. Most of the units are situated along the 14th and 15th fairways of the Mauna Lani North Golf Course. The other properties now have spacious garden views. Check out the slide show above from the original book-like brochure I found at a Waimea Thrift shop a few years ago. Notice the ponds in the site plan and how the buildings had extensive water featur...

Filed under: Significant Sales by Rick Oliver
Comments Off on SOLD-Islands at Mauna Lani P-1

Sales statistics for the first quarter of 2019 reveal a relatively “flat” market compared to this same period in 2018 for the South Kohala area. Condominium unit volume is down 5% in South Kohala where most sales are condominiums centered within the 3 major resorts with the majority of transactions occurring in the Waikoloa Village and Waikoloa Beach Resort. You can deduce the area where these sales are occurring using the average sales price of $470k as your guide. There are no condominiums for sale in the South Kohala area for sale except in the Waikoloa Village and Waikoloa Beach Resort in this general price range. The number of home sales in South Kohala are also down YOY. This could be because of a lack of inventory. Using the average sales price of $593,000 you can also pin point the majority of transactions occurring in Waikoloa Village. Homes have appreciated faster than condominiums in the post recession years between 2012 - present so it could be it’s time for condominiums to catch up. The last time the a...

Filed under: Real Estate by Rick Oliver
Comments Off on First Quarter 2019 Sales statistics

Aloha clients, friends and neighbors, This December has been one of the best in the 17+ years I've been in Hawaii.  The weather is clear and crisp in the mornings and relatively wind free during the day which is a bonus for water activities.  Morning temperatures for our early morning walk/run is in the upper 60's and afternoons are in the mid 70's.  The pool is cold for our master's swim group but after a few laps, it all feels just fine! Clear skies continue as a result of the Kilauea volcano ceasing most emissions. What a far cry from this spring and summer where emissions and lava flows made the national news and beyond. I’ve never observed better air quality and I hope it remains. It’s a new world especially in the Kona real estate market and the Kohala Coast as well. You would never know we still have an active volcano on the island. I always like to perform a year end real estate sales analysis comparing 2017 to 2018 for the Mauna Lani Resort and The Villages at Mauna Lani community as this community tracks ...

Filed under: Real Estate by Rick Oliver
Comments Off on Mauna Lani Sales Update January 2019

Aloha clients, friends and neighbors, Lissette and I are wishing you the best wherever you may be reading our community newsletter. The summer of 2018 has been eventful with the Kilauea eruption and hurricane Lane and Olivia passing by and miraculously we have survived all of these events unscathed on the west side of the island. Our thoughts and prayers go out to our east side of the island friends and clients as it’s been a far different result there with high winds, flooding and heavy Vog. Thankfully, the entire island’s weather relative to Vog has completely subsided as a result of the volcano’s various vents emitting next to no emissions for the first time in many years, resulting in some of the best weather I’ve ever seen on the Kohala Coast including Kona town and south for the last month. I hope this remains as the new “normal”, clear, bright blue skies! Many of my clients have asked what effect if any have the weather and volcanic events had on sales in 2018. Since all markets are very local with sales w...

Filed under: Real Estate by Rick Oliver
Comments Off on Mauna Lani Sales Update

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...

Filed under: Real Estate by Rick Oliver
Comments Off on 2018 Real Estate Market Update

A hui ho Barbara and Bob Wales-Lissette and I shared many wonderful moments in time with both of you at each others home, church and many other occasions. We’ll miss both of your Texas accents and truly charming demeanors-reminds me of my roots in Georgia. The Wales home SOLD 11/27/17. Villages #320 is the popular Lehua Plan with 39-panel solar system installed. It has a large, grassed common area off of the great room, 3 lanais, and is located at the end of 300 row with no adjacent building. It’s located near the recreation center for the ultimate in convenience. The Villages offers the best value for the $$ in Mauna Lani with one of the lowest AOAO fees, largest square footage plans and luxurious interior amenities and appliances. The Villages Amenity Center includes an exercise room with deluxe equipment, a full kitchen for poolside entertaining, and free- form freshwater pool and jetted hot tub. Click here for a copy of the Sales Flyer Click here to sign up for my blog Click here to search properties

Filed under: Significant Sales by Rick Oliver
Comments Off on Villages at Mauna Lani #320-SOLD

It’s hard to see our friends and neighbors leave Hawaii like the owner of Villages #320 but time and circumstance always require change and as we say here -a hui ho-or until we see each other again!  This home is set to close on or around 11/30/17. Villages #320 is the popular Lehua Plan with 39-panel solar system installed. It has a large, grassed common area off of the great room, 3 lanais, and is located at the end of 300 row with no adjacent building. It’s located near the recreation center for the ultimate in convenience. The Villages offers the best value for the $$ in Mauna Lani with one of the lowest AOAO fees, largest square footage plans and luxurious interior amenities and appliances. The Villages Amenity Center includes an exercise room with deluxe equipment, a full kitchen for poolside entertaining, and free- form freshwater pool and jetted hot tub. Click here for a copy of the Sales Flyer Click here to sign up for my blog Click here to search properties

Filed under: Significant Sales by Rick Oliver
Comments Off on Villages at Mauna Lani #320-IN Escrow

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, ...

Filed under: Real Estate by Rick Oliver
Comments Off on Q3 Hawaii Island Market Report