In working primarily in the resort market along the Kohala Coast, I am asked the same question almost daily, during this inclining market; “What is available under $500k?”
The Waikoloa Beach Resort and the Mauna Lani Resort would be the two choices on the Kohala Coast, which I highly recommend due to weather, better beaches, and golf. (Both of the two courses in Kona recently closed; one will not be re-opening and the second is expected to reopen this summer.)
Waikoloa Beach Resort is higher density than Mauna Lani, which does not allow time shares. However, the Waikoloa Beach Resort does have the most shopping and restaurants, two hotels (Hilton & Marriott), and a public state park beach, Anaehoomalu Beach or “A Bay” for short.
The preferred complexes which will give you the best return and built in 2000 or later, within the maximum $500k budget and a minimum of 2 bed, 2 bath, would be the Fairways, the Waikoloa Colony Villas, Waikoloa Beach Villas and Halii Kai. Halii Kai is the only oceanfront development of the four and therefore does have higher HOA fees monthly, but also gets higher rents, so don’t rule it out based on the higher fees solely if an income property is a consideration
Waikoloa Colony Villas
- 6-plex buildings with townhouse style condos (No one above or below you)
- Each has single car garage
- Mid range in quality
- Two pools
- Workout room
- Unit 1803 (MLS# 273396) – 2 bed, 2.5 bath condo priced at $405k
- Unit 504 (MLS# 269637) – 2 bed, 2.5 bath condo priced at $419,500
One of 2 Colony Pools
- 3-story buildings with elevators
- Few units have garages in the under $500k price range (there are some for the end 3 bed units and a few for the 2 bedrooms)
- Mid range in quality, but nicely finished and very nice golf course and lake views
- E33 (MLS# 270957) – top floor, killer views, added loft space, and priced at $450k
- G4 (MLS# 268239) – ground floor 2 bed, 2 bath priced at $445,500
Lake from Fairways
Waikoloa Beach Villas
- 8-plex buildings of town homes and apartment style condos
- All have a single car garage
- Newer complex with nice finishes and two pools
- Mid quality price range and quality
- M3 (MLS# 273233) – a 2 bed, 2 bath ground floor unit priced at $489k
Golf course fronting condos at the Waikoloa Beach Villas
- Oceanfront pool & workout hale with private grill & bar is the appeal in this complex
- 8-plex building
- Carports or single car garages (though most in the smaller units have carports)
- Steel frame construction with nice finishes
There are no units less than $500k. However, in an effort to provide the most affordable in the complex, I have listed the two lowest priced units in Halii Kai below.
- 2B (MLS# 272505) – ground floor 2 bed, 2 bath priced at $510k
- 20C (MLS# 268826) – ground floor 2 bed, 2 bath priced at $525k
Halii Kai oceanfront pool, grill, & bar
There are no condos priced less than $535k in the entire resort of Mauna Lani at this time. There are only two less than $550k. As we are trying to achieve a comfortable price range of less than $500k, this may not work unless of course you decide to increase your search based on preferential golf pricing in the Mauna Lani due to ownership privileges. Just in case, I have listed the two most affordable options.
Mauna Lani Beach Club
Most of the condo complexes HOA fees cover water, sewer, trash, and insurance for the buildings exterior. Besides your property taxes you would also have the expense of electricity, interior insurance (optional), cable tv & internet (unless included by complex).
I hope this gives you a starting point. Please let me know what other questions you might have!
A hui hou,
Living and loving my resort life!