The is the fourth in a monthly series of updates on the real estate market at the Waikoloa Beach Resort on the Big Island of Hawaii.
Number of condos listed for sale, price range, numbers listed in Nov, Dec, Jan, and now Feb
Waikoloa Beach Villas – 7 ($469k to $699k) (9, 6, 9, 7)
Waikoloa Colony Villas – 10 ($399k to $525k) (9,8,9,10)
Fairway Villas – 16 ($396k to $625k) (12, 13, 16, 16)
Kolea Condo Villas – 23 ($745k to $2,799,500) (15, 19, 21, 23)
Vista Waikoloa – 8 ($389,900 to $554k) (4, 6, 7, 8)
The Shores – 12 ($300k to $699k) (9, 13, 12, 12)
Halii Kai – 29 ($557k to $1,695,000) (22, 20, 27, 29)
As you can see from the graph below – inventory continues to increase. As I pointed out in my last update – this means we are in a buyer’s market. Buyers are expecting room to negotiate. I advise sellers to always counter the buyer’s initial offer – even if it seems absurdly low. Buyers might be testing the waters and seeing if they can get a bite.
Buyers and Sellers: Make sure to talk with your agent and understand your options to make your best decision on how to proceed in these situations.
Waikoloa Beach Villas ($469k to $699k)
No sales in February (Last sale was in October 2015).
It looks like 5 properties are either contingent or under contract – so expect to see some great numbers in the next month on sales data as these properties close and become sales. This is good news for the Beach Villas as it means the construction is no longer holding up buyers. For more details see my update #2.
Waikoloa Colony Villas ($399k to $525k)
3 Properties sold November through January.
Sold price to list price ratio: 1237/1299 or 95%.
1 property sold in Feb for $440k – list price was $450k.
3 Properties are currently either contingent or under contract.
Fairway Villas ($396k to $625k)
4 properties sold November through January.
Sold price to list price ratio: 1799.9/1868.9 or 96%.
1 property sold in Feb for $392k – list price was $398k.
2 Properties are currently either contingent or under contract.
Kolea Condo Villas ($745k to $2,799,500)
No sales in Kolea since May of last year.
There are two condos in contingent status right now – one that was listed for $2.3M and one for $1.3M.
Note that last year there were 3 sales in April, 1 in May and 1 in January of 2015 – so perhaps the buying cycle is just about to hit. I am encouraging people to look at these well built and well appointed units. Kolea has the unique beach access right from their pool. I think Kolea is worth checking out. I learned something new on my last tour….there are two units right past the pool and almost at the beach. They are available for rent only by the owners and only when the owners are present. Currently at $200 a night – you get this a bonus when you buy a condo and become an owner at Kolea!
The view from the Owners’ Special Rental Units down by the pool
Vista Waikoloa ($389,900 to $554k)
1 property sold November through January.
Sold price to List price ratio: 98%.
1 property sold in February for $535k – list price was $554k.
1 property is under contract – the list price went from $495K to $439K as the seller was in need of completing a 1031 exchange.
So Seller pressure does make a drastic impact on price.
Shores at Waikoloa ($300k – $699k)
5 properties sold November through January.
Sold price to list price ratio: 2130/2206 97%.
No sales in February.
3 properties are Contingent.
Halii Kai ($557k to $1,695,000)
3 properties sold November through January.
Sold price to list price ratio: 2518/2693.999 is 93%.
No sales in February.
No properties under contract at this time.
This handy tip will help you when you are looking for property at Halii Kai as the Unit Lettering will clue you as to which floor plan you are looking at. There is a three bedroom two story floor plan, a single level three bedroom plan, a corner unit single level two bedroom plan, and a middle two bedroom floor plan.
My favorites are the two story, three bedroom F and G units with the high ceilings and two lanais.
A – second floor – 2 bed, 2 bath corner unit
B – ground floor – 2 bed, 2 bath
C – ground floor – 2 bed, 2 bath
D – second floor – 2 bed, 2 bath corner unit
E – ground floor – single level 3 bed, 2 bath corner unit
F – two-story – 3 bed, 3 bath – high ceilings – two lanais
G – two-story – 3 bed, 3 bath – high ceilings – two lanais
H – ground floor – single level 3 bed, 2 bath corner unit
This property at Halii Kai (MLS# 288370) is still my favorite – please let me know if you want to take a look!
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Note that this listing and sales data were gathered from the Hawaii Information Service in March 2016. As the market is always changing – check with me for the latest up-to-date information.