Hawaii

Waikoloa Beach Resort Market Update April 2016

For those of you following my monthly market report for Waikoloa Beach Resort blog – you will be glad to know that we had some real happenings in April and I am excited to say the market is active. (Check out my March or February updates here.)

Happy People are We

Before I get into all the numbers – I want you to know I have a co-listing at the Bay Club at Waikoloa Beach Resort. I don’t normally write about the Bay Club because it is primarily filled with vacationers from the Hilton Grand Vacation Club.

Interestingly, when the Vacation Club bought the Bay Club condos – according to what I have heard – there were a few people (I believe 4) who said, “Nope – I don’t want to sell my condo into a timeshare program – I am going to keep it.” So we have some Fee Simple Condos amongst a large number of units that are in the Hilton Vacation Club Program.

Bay Club Lanai

View from the lanai at the Bay Club (MLS# 287323)

I think this is a unique opportunity as it is across from the pool bar and has a lanai overlooking the golf course. You can live there full-time or part-time and you can certainly rent it out! With high ceilings and tons of light – it is really a great vacation location.

For more details – please contact me…Bay Club Fee Simple Listing (my contact info is at the bottom of the blog).

Now that I have said that…what else is going on at the Waikoloa Beach Resort?

Summary of Active Listings by Resort

Halii Kai: 17 – down from 26 and it was 29 the month before
Kolea: 22 – down from 24 last month
Beach Villas: 9 – same as last month
Vista Waikoloa: 4 – down from 6 last month
Shores: 10 – down from 11 last month
Fairway Villas: 17 – same as last month
Colony Villas: 10 – same as last month

So we are cleaning up the inventory and condos are selling.

89 Active Listings – down from 103 in March
9 Sales in April
13 Contingent or Under Contract

How does that compare to the last few months? Well – take a look…

graph of listings through May 2016

So we have a lot of activity…. are we in a buyer’s or seller’s market?

9 sales in April and 89 active listings…so if we keep up that pace, it will take about 10 months to clear out that inventory – so we are still in a buyer’s market. Note that last month we had 7 sales and the month before we had 5.

Here is the data from the specific complexes.

Halii Kai

This complex has the pool and gym right on the ocean. It also has a bar and restaurant there too!

Active Listings: 17
Ranging in list price from $525k to $1,695,000
Contingent: 3 ($569k, $597k and $677,500 list price)

Nothing Closed in April
There was a price drop and you can get a 3-bedroom ground floor unit for $525k!

And just so you know that I don’t just do shameless plugs for myself or the company I work for (well, I do sometimes – see the first paragraph of the blog – I am human after all!) – I want you to know that I think this will be the next condo to go under contract at Halii Kai. Please contact me if you want me to help you write the offer!

I have seen this ground floor three bedroom unit and it is conveniently located by the tennis courts and a short walk to the oceanfront pool and amenity center. I think this is a great condo and a great price. I’d love to show it to you before someone else snaps it up! Check it out (MLS# 291944).

Kolea

This is the complex with direct access to the beach and the famous A-bay.

Active Listings: 22
Ranging in price from $745,000 to $2,799,500
Look at this top floor unit
Bay views for $875k – also worth looking at

Kolea 15F

Kolea Top Floor Views

Unit 12D Sold
Listed at $1,300,000 it sold for $1,175,000
3-bedroom ground floor unit
on the market for 146 days
The list price to sale price ratio is 90% – that is a pretty steep discount.
I am looking forward to seeing what comes next in this complex.

There is nothing contingent or under contract.

Waikoloa Beach Villas

This is the first complex on your right when you get to the stop sign. Sansei Sushi and Steakhouse to your left, Waikoloa Beach Villas to the right.

Active Listings: 9
Ranging in price from $449,000 to $599,000

There is a 2 bed, 2 bath unit at 559,000 that is under contract (on the market for 110 days).
Two sold in April and sneak peak – one already sold in May.

$599,000

(MLS# 288725) | Condo | 3 Bed, 3 Bath
SOLD 4/1/2016 for $550,000 (CASH) 
DOM: 43
Ratio of list price to sale price is about 92%

$495,000

(MLS# 291150) | Condo | 2 Bed, 2 Bath
Golf Course Frontage at Waikoloa Beach Villas!​
SOLD 4/7/2016 for $485,000 (CASH) 
DOM: 78
Ratio of list price to sale price is about 98%

May Sale

$699,800

(MLS# 293614) | Condo | 3 Bed, 3 Bath
SOLD 5/4/2016 for $680,000 (CNV) 
DOM: 12
Wow – that one went quick! Ratio is 97%

Vista Waikoloa

Next door to Tropics Ale House – the best pizza and beer around…and these units are large with large lanais!

Active Listings: 4
Ranging in price from $407,000 to $599,000
3 Contingent. Two had been on the market a long time. These two had price drops over their year on the market and finally came into the range where an offer was accepted. The third property, however, had a price increase and went under contract a few days later. I am curious to see what the sale price will be when the contract information becomes public knowledge.

$575,000

(MLS# 293812) | Condo | 2 Bed, 2 Bath
Sunset facing with oceanview remodeled Vista Waikoloa
Contingent 
DOM: 59

One unit sold at the end of April – this one had started at $495k, and according to the MLS Copy, had several price reductions to help the seller complete a 1031 exchange. Once it hit $439k – someone took a bite…and it stuck!

$439,000

(MLS# 289817) | Condo | 2 Bed, 2.01 Bath
Ground floor unit on the golf course
SOLD 4/29/2016 for $439,000 (CNV) 
DOM: 85

The Shores

Although older units – they typically are large with huge lanais and gardens.

Active Listings: 10
Ranging in price from $300,000 to $659,000
Contingent: 2 units – number 115 and 134

$357,000

(MLS# 292057) | Condo | 2 Bed, 2 Bath
Ground floor single level condo
Contingent 
DOM: 109

$358,000

(MLS# 286162) | Condo | 2 Bed, 2 Bath
Also a ground floor unit
Contingent 
DOM: 294
Sold Condos: 2 Sold in April and sneak peak – 1 sold in May already

$369,900

(MLS# 290468) | Condo | 2 Bed, 2 Bath
Beautifully renovated, ground floor
SOLD 5/3/2016 for $350,000 (CASH) 
DOM: 120

$409,000

(MLS# 289963) | Condo | 2 Bed, 2.00 Bath
SOLD 4/5/2016 for $360,000 (CASH) 
DOM: 95

Fairway Villas at Waikoloa Beach Resort

Golf views from many condos – infinity style pool – close to restaurants and shopping at Kings and Queens shops.

Active: 17
Ranging in price from $329,000 to $625,000
Contingent or Under Contract: 2

$395,900

(MLS# 291897) | Condo | 2 Bed, 2 Bath
Under Contract 
DOM: 102

$410,000

(MLS# 291746) | Condo | 2 Bed, 2 Bath
Contingent 
DOM: 103

SOLD – none in April

Colony Villas

Townhome style – 17 foot ceilings! Need I say more?

Active: 10
Ranging in price $399,000 to $525,000
Contingent: 2

$519,000

(MLS# 291819) | Condo | 3 Bed, 2.01 Bath
Golf course views and steps to the pool
Contingent 
DOM: 117

$439,000

(MLS# 285780) | Condo | 2 Bed, 2.01 Bath
Furnished townhouse w/attached garage and extra deeded parking space.
Contingent 
DOM: 101
Sold: 3

$435,000

(MLS# 291251 | Condo | 2 Bed, 2.01 Bath)
Private,​ Mountain Views; close 2 tennis,​ pool,​ hot tub
SOLD 4/29/2016 for $426,000 (1031) 
DOM: 52

$429,000

(MLS# 277482) | Condo | 2 Bed, 2.01 Bath | 1,446 Sq Ft | 3-6-9-7-35-9 |  Fee Simple
Huge price reduction! Location, location, location!
SOLD 4/28/2016 for $429,000 (CNV) 
DOM: 353

$459,000

(MLS# 292391) | Condo | 2 Bed, 2.01 Bath | 1,446 Sq Ft | 3-6-9-7-35-88 | Fee Simple
Immaculate Town home with Upgrades
SOLD 4/18/2016 for $430,000 (CASH) 
DOM: 47

I know that is a large amount of data. I work with this every day so it is something I am happy to explain and talk about any time. Let me help make the Waikoloa Beach Resort a part of your future in Hawaii.

Want More Info About the Big Island?

That sums it up for April. Quite a lot going on if you are paying attention! If you would like more information, stop by the office at the Queens’ Shops. I’m usually there Monday mornings 9:30am-1:30pm and Tuesday afternoons 1:30pm-6:30pm.

If I’m not there – send me a text or call me at (808) 895-4327.

Download my app! Available for both the Android and iPhone, it contains contact info for food places, activities, and much more. Or simply go online.

Download the free app for recommended places to go on the Big Island (click image to enlarge)

Note that this listing and sales data were gathered from the Hawaii Information Service in May 2016. As the market is always changing – check with me for the latest up-to-date information.

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