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Dear Kohala Coast visitors,
Sorry for not continuing our posts on Kohala Coast Real Estate or the Hawaii Big Island Housing Bubble, which we had started recently. For those who are looking into moving to Hawaii and buying a Big Island home or a lot at an affordable price (Hawaii market considered!), we promise we will be back with more information on trends of Kohala Coast real estate market at the beginning of the New Year.
First things first! Now, it’s time to get ready to celebrate the beginning of a new year. The year 2007! Time flies when you are having fun. We wish everybody a healthy, happy and prosperous New Year, which will hopefully include a visit to our wonderful island.
For everybody who was lucky and enjoys their well-deserved Hawaii vacation on the Kohala Coast of the Big Island at the moment, here is the great news about fireworks at Kohala Coast Hotels and Resorts for starting the New Year with a magnificent show:
Fairmont Orchid at Mauna Lani Beach Resort
Four Seasons Hualalai
Hapuna Beach Prince Hotel
Find the Kohala Coast hotel, which is the closest to your vacation home or resort, on our Kohala Coast Map. Happy New Year from Pua Kohala Coast Vacation Guide
Big Island Housing Bubble
Let’s pick up where we stopped with our last post on the building or ‘overbuilding’ boom on the Kohala Coast and on Hawaii Big Island. Real Estate market in Hawaii and on the Mainland has been, and still is, an ever-discussed topic all through the year 2006. The so long predicted bursting of the housing bubble seemed to have finally happened or was it just stabilizing of the market or correction of overpricing, as some real estate analysts pointed out?
In January 2006 the available inventory island-wide began to increase as house sale prices declined. Interest rates remained stable, which was encouraging to buyers. The housing market showed a totally different picture this year than it showed in 2005. What will the new year 2007 bring for the Big Island real estate market?
The Hawaii Housing Bubble blog with Oahu and Mainland house sale stats offers some interesting insight into real estate ‘bubble’ facts in Hawaii and on the Mainland. If you are interested in buying a house in Hawaii, this information might be worthwhile reading. The more you read, the more you know. The decision-making is still up to you, just like in the stock market. Not all the predictions by the top analysts are the right ones. Some basic trends help though for making your own house buying or selling conclusions.
Here are a few stats backing the current real estate market on the Big Island:
The Kona Coast has 429 listings with a median asking price of $729,000, with 28 sales last month and a median price of $620,000.
Puna on Big Island’s East Coast currently has 611 active listings. Vacant lot sales and prices in East Hawaii have plunged steadily since November of 2005, according to information compiled from the Hawaii Information Service. Vacant land was a hot commodity last year as investors bought lots in hopes of flipping them for a good profit. But the slowing market made speculators move on, at least for the moment.
With an average Hilo home going for $350,000, buyers last month were paying $17,000 less than they were in November of 2005, with a 20 percent drop in sales volume. Hilo had 34 sales in November 2005 and 27 sales in November 2006.
Last but not least, high end homes over 1 million dollars on the Kohala Coast, such as Kohala Ranch, Kohala by the Sea and Kohala Estates are still at high demand. However, asking and selling prices for the medium range are falling in the Waimea/Kamuela area on the Kohala Coast, especially so in that odd area between worker housing and upper middle class properties $500K to $900K.
All the above stats are once again proving that it’s a buyer’s market, as we ended our most recent post. Some buyers are waiting for the market to swing even further their way in what experts have called a "market correction" after years of brisk sales and high prices, but remember ‘there is no place like Hawaii’ and properties on these islands are not unlimited!
Merry Christmas and aloha, Pua Kohala Coast Vacation Rental Guide
Aloha Kohala Coast lovers,
Not everybody can afford an annual Hawaii visit. Trips to Hawaii don’t come cheap. So, let’s assume you have not been back for another vacation on the Kohala Coast for about two to three years but plan another return visit for next year.
Well, you’d better be prepared for changes, big changes in the Kohala Coast scenery you have come to get used to in those past years. Hawaii Big Island was always the island, which was laid back and low key. Beautiful Kohala Coast beaches have been a big attraction to travelers who did not want lie on one of those crowded Maui beaches but rather spend some peaceful time on one of the best Big Island’s beaches, like Hapuna or Mauna Kea beach.
However, as we all know, the ‘only constant in life is change’! Finally, the building boom from Oahu and Maui has caught up with the Big Island. Kona has changed a lot but the Kohala Coast as well. Even though we are all well aware that the economy of West Hawaii, like the entire State of Hawaii, is dependent on the visitor or tourism industry (West Hawaii welcomes more than a million visitors annually!), not all residents approve of the current situation. More and more condos and town houses are already up or are still getting developed on both sides of Highway 19 on your way from Kona to the Kohala Coast. Waikoloa Beach Resort added two more condo or town house complexes, as did Mauna Lani Beach Resort and Waikoloa Village area. Many more complexes are just new where there was bare land before.
Infrastructure changes with shopping centers and additional lanes on the Highway will have to follow! Hey, you know what the good part of all that additional building here on the West coast is: It will increase the number of available Kohala Coast homes, houses and condos, adjust the asking prices and by doing so, it will eventually create a buyer’s market, which can already be observed at certain Big Island areas and certain medium level prices. Perfect for the average buyer looking for an affordable Big Island home for sale or property to buy.
Plus, it will also increase the available Kohala Coast vacation rental units, as a lot of those new homeowners use their Hawaii home as a vacation rental condo or home to help pay for their mortgage. With more vacation rental units being available close to the beaches, your chances for finding a great place at a perfect rate are getting better by the day. Long story short, for our Kohala Coast visitors it’s a win-win situation! Happy? I bet! Stay tuned for more from the Kohala Coast. Aloha, Pua Kohala Coast Vacation Guide
Aloha again to our Kohala Coast visitors,
After you followed our last post about Mauna Kea Beach Hotel closure, we have a little bit of new information from our Mauna Kea tennis club friends. Here is what they told us: The big guest parking lot will be serving for the hotel construction crew. Too bad for Mauna Kea Beach lovers but it does not look like there will be more beach parking and passes available. Sorry guys! It’s not quite sure where the tennis club members will be parking in the future. The ladies locker room and the storage room next to it were converted into the ‘new’ beauty salon. Air conditioned and newly carpeted, it looks pretty nice. Reason for this necessary change is that Hapuna Beach Prince Hotel never had its own beauty salon and Hapuna hotel guests always used the Mauna Kea salon. It's also going to be interesting to see how much the Hapuna guests continue to shuttle over to use the Mauna Kea beach and the Hau Tree beach restaurant there. They are, supposedly, going to be dropped off at the tennis center, to walk across the lawn and down the stairs to the beach, which is an easy beach access and was used in the past by quite a number of beach visitors. That’s the latest for today on Mauna Kea Beach Hotel. If you had planned a stay at the hotel and are still looking for some adequate accommodation on the Kohala Coast, have a look at these private luxury Kohala Coast Vacation Homes as an alternative option. You won’t regret it. Warm aloha for all our Kohala Coast blog visitors from Pua.
Mauna Kea Beach Hotel is closed!
Yes, you read it right. Now, it’s final. One of the most favorite Big Island hotels on the Kohala Coast is temporarily closed for repair due to more structural damage than originally assessed from the Kohala Coast earthquake in October. Some hotel employees anticipated this move; others were totally caught by surprise. Hotel management waited with this announcement till the last minute.
Last Saturday, the official day of closure, was a very sad moment for employees (we feel with all the employees being laid off at a time when they need their jobs the most!), guests and residents alike but safety comes first. It’s hard to comprehend that this oldest of the Kohala Coast hotels won’t be open for their regular busy Christmas crowd over the holidays. Current guests were moved to Mauna Kea’s sister hotel Hapuna Beach Prince Hotel. Mauna Kea Beach Hotel will do everything to find appropriate accommodations in other Kohala Coast hotels for guests with future reservations.
Good news for Golf players who stay at Hapuna Prince Beach Hotel or belong to Mauna Kea golf club. Mauna Kea golf club and clubhouse restaurant will stay open. As will the beach restaurant ‘Hau Tree’, which is great for Mauna Kea beach lovers who like to have lunch on the beach. Mauna Kea beach will attract Kohala Coast visitors just as before or even more, as we expect the number of beach passes issued per day to increase with much more beach parking available. Stay tuned for more on Mauna Kea or Kohala Coast news. A hui hou. Pua
Kohala Coast Vacation Guide
Aloha Angela and Mike from Californa,Sorry for the delay with this message. We were just waiting for our Kohala Coast vacancies from rental owners for December coming in. It looks pretty good for your plans, even for the time between Christmas and New Years, there are still a few vacation rentals available on the beach or ocean view rentals. If you want to save some money on accommodation, you can find great places 10 -15 minute-drives from best Kohala Coast beaches. Save money on accommodations, rather spend it on a great dinner or even better on an exotic luau on the Kohala Coast resorts.However, remember what I said last time in my post Christmas Vacation on Kohala Coast of Hawaii Big Island. make sure that you have a flight and car reservation before checking for Big Island accommodations. If that is all taken care off, check Cancellation, Last Minute vacancies for Kohala Coast rentals and Big Island vacation homes, vacation cottages, apartments, condos and suites. If your travel dates are flexible, plan your Big Island vacation for the beginning of December when restaurants and beaches will be still empty. Kohala Coast hotels are preparing all their beautiful Christmas decorations. The Orchid Fairmont at Mauna Lani Beach Resort displays a full size gingerbread house which fills the lobby with an enticing aroma. Who can resist that? One of the most famous Kohala Coast hotels, actually the oldest one, will be missing and will be missed though. Mauna Kea Beach Hotel announced today that they will be closed due to more structural damage than expected from the October earthquake. Quite a number of guests will be accommodated at the Hapuna Beach Prince Hotel. Private vacation rentals might be an option for those who won't be the lucky ones to get a room at Hapuna Beach Hotel.E Komo Mai. The skies are blue and sun is shining on the Kohala Coast. Kohala Coast rental homes are awaiting you. Come visit the Kohala Coast on Hawaii Big Island. Kohala Coast Acccommodation Guide
