Market Update 3rd Quarter 2019 Just the stats..and the stats are all positive! The market remains strong for Hawaii Island through the third quarter 2019. Prices are stabilizing to the 2006-7 peak relative to single family homes and in some cases resort condominiums are selling well below those levels. As an example, the Maile plan in the Villages at Mauna Lani is selling at a 30-40% discount to the 2006 peak with no apparent reason other than it was a large floor plan originally purchased for occasional owner use not primarily for vacation rental. The market has changed since the “great” recession where gross vacation rents are being factored into the ownership “equation” along with purchase price and number of bedrooms. As an example of the current arbitrage, a 3 bedroom Golf Villas unit will vacation rent for $300/night where this large Maile plan may only rent for a 10% premium but cost +30-40% at $1.1m. Additionally, noted market trends indicate declining sales in non resort areas indicating the possible affect...

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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 ...

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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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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...

Filed under: Real Estate by Rick Oliver
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