Real Estate

Market Condition April 2020

The March 2020 real estate sales market remained primarily unchanged Year over Year for Hawaii Island for March 2019 vs. March 2020. This is primarily because sales were booked in January and February as the coved-19 pandemic was developing. April 2020 sales reflect the COVID-19 effect clearly as these stats reflect Buyer’s actions in February and March 2020 as flights were cancelled and quarantine mandates were implemented which diminished visitors to the island. I will continue to monitor the effects and report on the number of units in escrow and closed sales as we go forward and update June 1. It’s too early to tell how these declines will effect values at this point as new listings are few, indicating sellers are reluctant to list, which is positive for values as few listings keep our available inventory low. As restrictions on Short Term Vacation Rentals, 14-Day Mandatory Quarantine for new arrivals and flights to Hawaii are restored-sales should continue. Let’s hope this happens sooner than later. The chart b...

COVID-19 Affects on Hawaii Real Estate

I thought it would be helpful to write a blog post on my observations during the beginning of the Virus outbreak and its current effect on resort sales and listings. I've included slides from a webinar I watched from CORELOGIC, Strategic Agility in Uncertain Times: Real Estate & Rental. CORELOGIC has a world-class economic forecasting team with commentary on various slides presented. CORELOGIC has access to most MLS systems within the US and Canada, where they can peer into real-time happenings in many markets, including our own in Hawaii, which is insightful. Here is a link to the Webinar: https://corelogic.zoom.us/webinar/register/2015873986761/WN_XWB88BbURteTZt7j3E5NWQ My own experiences have been positive regarding listing and selling real estate so far. I have a Canadian buyer client that negotiated a contract during the last few weeks of February to purchase a Mauna Lani condominium. As the news got worse regarding travel bans from China and Europe, the contract negotiations became easier until we were able to agree. ...

In Escrow-Islands at Mauna Lani P-1

(click the images to view larger) I just put into escrow for my buyer client, a beautiful, large three bedroom, three bathroom townhome in The Islands at Mauna Lani. This floor plan features three master-like suites, all with ensuite baths and one with a soaking tub. The selling owner renovated the home's kitchen and master bath and is providing the property furnished. The Islands at Mauna Lani were conceived to be a low-density, "island" of homes surrounded by water. It was the Tokyu Corporation's vision to bring the ocean experience inland one mile in the early 1990s and develop 46 townhomes in a duplex and four-plex configuration, all with large, 2-car garages and large lanais off the upstairs master suite and downstairs living areas. Most of the units are situated along the 14th and 15th fairways of the Mauna Lani North Golf Course. The other properties now have spacious garden views. Check out the slide show above from the original book-like brochure I found at a Waimea Thrift shop a few years ago. Notice the ponds in th...

Nohea at Mauna Lani homes feature Tuuci Luxury Shade Pavillions with LED lights

Our Nohea at Mauna Lani homes features Tuuci Umbrellas or shade structures with built-in LED lights. This high tech solution for adding partial or full shade solves the problem of too much or too little sunlight when necessary. The umbrellas installed at Nohea lot 29 are 10’ x 14’ and can be opened individually or not at all. They include LED lights for just the necessary mood illumination at night or roll down for a star-lit evening. Their construction quality is unmatched with all components manufactured from aluminum, stainless steel, and chrome-plated brass. Tuuci incorporates Sunbrella Marine Grade Fabric in all of their shade structures. The umbrellas are built to order, including the support poles, and internal ribs which are fabricated to match the wood trim on each of our three homes. The fabric choices match the stucco facade on each property. Our Nohea design team is always seeking to add value through innovation, automation, and new uses for conventional materials. Please come in to check out this feature as we...

Nohea at Mauna Lani homes feature Zoom-Room Murphy Beds!!

Our Nohea at Mauna Lani homes feature Zoom-Room Murphy beds. The high tech solution for that 3rd or 4th bedroom that always winds up as a “catch all” space as an office, informal media room or sometimes as a bedroom. We feature these in our “flex room” where we have it installed among custom cabinets that feature an office, media and storage function. Zoom-Room beds feature a memory foam mattress that allows it to roll up and roll down vertically within the cabinetry like a “magic trick” as it’s motorized mechanism allows it to appear almost out of nowhere then retract seamlessly into the cabinetry. The Zoom-Room mechanism is German engineered and manufactured ensuring it’s high quality. Our Nohea design team is always seeking to add value through innovation, automation and new uses for typical materials. Please come in to check this feature as well as the many other Nohea at Mauna Lani home features!

Nohea at Mauna Lani lot 29 Finished and Furnished

We’ve had lots of traffic on our Nohea homes with many compliments regarding the floor plans, furnishings, finishes and fixtures. The cabinetry, elaborate hardwood trim, hardwood floors and hand troweled, Old World stucco exteriors are unusual for this market. Lush landscaping is also included featuring a grass and paver driveway which adds more “green” scape where you would expect hard surfaces. The Restoration Hardware furniture package accentuates the modern lines and contrasting grey and brown wood finishes on the floors and trim. Lush landscaping is also finished including a grass and paver driveway which adds more green-scape. This home is priced at $2.95m which makes it the lowest priced single family offerings in Mauna Lani at this time.  These homes—not condominiums—are resort quality with 4 bedrooms and 4 full, bathrooms, Chef’s kitchens with Wolf and Subzero appliances, saltwater pools and spas and plenty of hardwood trim and other luxury extras to make this an incredible place to come home to in �...

Nohea at Mauna Lani lot 21 Finished and Furnished!

We’ve had lots of traffic on our Nohea homes with many compliments regarding the floor plans, furnishings, finishes and fixtures. Jamie Jackson along with her team with furnishings from Oahu’s Pacific Home interiors specified and installed the Bali Modern furnishings that accentuated the cabinetry, trim, wall coverings and finishes. The cabinetry, elaborate hardwood trim, hardwood floors and hand troweled, Old World stucco exteriors are unusual for this market. Lush landscaping is also included featuring a grass and paver driveway which adds more “green” scape where you would expect hard surfaces. This home is priced at $3,149,000 which makes it one of the lowest priced single family offerings in Mauna Lani at this time.  These homes—not condominiums—are resort quality with 4 bedrooms and 4 full, bathrooms, Chef’s kitchens with Wolf and Subzero appliances, saltwater pools and spas and plenty of hardwood trim and other luxury extras to make this an incredible place to come home to in “paradise”.   Nohea...

Nohea at Mauna Lani Lot 25 Finished and Furnished!

We’ve had lots of traffic on our Nohea homes with many compliments regarding the floor plans, furnishings, finishes and fixtures. Lot 25 features many finishes from our popular lot 10 plan that is now a resale for $3.895m. Jamie Jackson along with her team with furnishings from Oahu’s Pacific Home interiors specified and installed the Bali Modern furnishings that accentuated the cabinetry, trim, wall coverings and finishes. The cabinetry, elaborate hardwood trim, hardwood floors and hand troweled, Old World stucco exteriors are unusual for this market. Lush landscaping is also included featuring a grass and paver driveway which adds more “green” scape where you would expect hard surfaces. This home is priced at $3,049,000 which makes it one of the lowest priced single family offerings in Mauna Lani at this time.  These homes—not condominiums—are resort quality with 4 bedrooms and 4 full, bathrooms, Chef’s kitchens with Wolf and Subzero appliances, saltwater pools and spas and plenty of hardwood trim and other lu...

Merry Christmas and a Happy New year in 2020

Lissette and I have been blessed with an abundance of great memories and experiences in 2019 including those including all of our friends and clients, old and new. A big mahalo to our clients who have entrusted us in many different ways with their properties. We both enjoy assisting our buyer and seller clients as well as though that use our Hawaii Homechex concierge services. We started our dream not knowing anyone on Hawaii Island in June of 2001 and now count almost 19 years here and we now know many of you that started as clients and we now call friends. Much love and many thanks! Wishing everyone a joyous and happy 2020!!! Click here to search for Big Island Properties Here are a few New Year’s Predictions for 2020 of Hawaii and National Economic Trends: Low National Inflation Rates The annual inflation rate for the United States is 2.1% for the 12 months ended November 2019, compared to 1.8% previously, according to U.S. Labor Department data published December 11, 2019. (https://www.usinflationcalculator.com...

2019-Big Island Year End Real Estate Summary

Welcome to my year end 2019 summary of real estate news and trends for my December blog and newsletter readers. The good news is...it’s all good news! Properties in all categories are selling well along the Kohala Coast especially condominiums. The least expensive condominium units with the most bedrooms are the “hot ticket” in all resorts. Land and developed lots continue to be great buys if you have the time and patience for the building process. Single family homes are the next best bargain per square foot but an overall more expensive option to condominiums mainly because of their larger size. Most of my comments and analysis concern the Kohala Coast Resorts and not the north Kona Resorts and communities such as Kohanaiki, Kukio and Hualalai. The Kohala Coast resort market for condominiums +/- $1m is really good with an average days on market of less than 90 days if the unit is priced no higher than a few percentage points beyond the sold price of the last, best comparable unit. Price and condition are “99%�...