If you have read my blog about the September sales update, you already know that the community of Hali’i Kai is getting the most attention from buyers. The month of October (2011) ended with only 2 condo sales at Waikoloa Beach Resort and both were at Hali’i Kai, the ideal place to enjoy the Waikoloa lifestyle.
Hali’i Kai Ocean Club perched on the ocean’s edge
The Halii Kai developer, Centex Homes, was able to cross 2 more units off their sales list last month. A 2 bed/2 bath “Ho’oulu” model in the Coconut Grove was swiped at $399,000 and listed at $475,000. A “Mahana” model, a smaller 2-bedroom floor plan with golf and ocean views, sold at $475,000 with an asking price of $545,000. Both properties were purchased with a conventional loan; many buyers are currently choosing to finance because of the low rates. Hali’i Kai is classified as a resort condo, which means at least 30% down was required.
The Waikoloa Beach Resort may welcome 17 new homeowners in the months to come since 17 condos are in escrow at the moment. The 2 developer units that just sold looked like an easy ride for buyers: quick response from the developer, brand-new units, great prices, one to two years break on the HOA dues, and one year or more fit and finish warranty as well as a 10 year structural warranty included.
Transactions may not be as smooth for the six Halii Kai buyers that have chosen the short sale road. We count six transactions at Kolea, four of them are short sales. One buyer grabbed the last developer unit at Waikoloa Beach Villas and four others signed up for distressed properties at Waikoloa Colony Villas, Fairway Villas, and Vista Waikoloa. No doubt that with 12 units in escrow, Hali’i Kai and Kolea are leading the way!
Kolea Beach Club pavilion overlooking Anaeho’omalu Bay
Resort amenities among gated communities are the big draw on the Kohala Coast as buyers are particularly interested in top-of-the-line extras, such as Hali’i Kai Ocean Club or Kolea Beach Club, when they purchase a Hawaii property. With 86 condos currently for sale, what would draw you to a Waikoloa Beach Resort condo?