Kona Kohala Blog

I don't expect a straight shot to recovery but it does appear that we are starting up in sales activity across the price spectrum.  The watch dog areas, Waikoloa Beach Resort and Mauna Lani Resort, are seeing large increases in condo sales.  This is what we've been waiting for as an indication that the market is gaining strength.

In North Kona which has a more full time population than South Kohala, land of the resorts, we expected to see a continuing if not hardy level of sales activity.  In South Kohala, we've seen a large inventory for sale but who could afford to buy a second home let alone and investment property and that's pretty much what we have in the Waikoloa Beach Resort and Mauna Lani Resort.  Now, they are beginning to sell.

For one thing it means prices have come down far enough that investors and second home buyers are seeing value.  It means there is a return of the tourists who make up the population of South Kohala, especially the resort properties.  It means there is a little more confidence in a partial if not full recovery.  It also means there are those out there smart enough to anticipate the interest increases even before they become empirical data.  These are the smart ones, the ones who didn't refinance each time their home went up in value, who didn't use their homes as ATM machines, who continued to save money during the "good times", and those who are wise enough to stay within their budget regardless of how well they're doing.  Now, they're reaping the rewards of their frugality.

Yesterday we were looking at condos in the Vista Waikoloa project in the Waikoloa Beach Resort just south of the Hilton Hotel.  This complex was built in 1990 when there was still plenty of room to built resulting in a spacious complex like the nearby Shores at Waikoloa.  The units are not only spacious but the lanai's are big enough to live on and there's plenty of room between the buildings so you don't feel at all cramped walking around the manicured grounds.  There are only a few units for sale and some are right at $300,000, a great buy with a very good chance of above average appreciation in the future.

After having shown condos in the Villages at Mauna Lani, an absolutely beautiful complex with high end everything but still good prices, I walked into a Vista unit.  I swear I thought I'd just walked back into a Village unit.  The owners had redecorated and remodeled the kitchen especially.  It was magnificent with black granite, new appliances, travertine floor tiles and new cabinets.  It looked very close to a unit that would cost at least two times what this one is worth and has much lower maintenance fees.

If you're interested in luxurious condo living in a luxurious resort setting call me, 808-896-0661 or email Robert@FerrariPacificRealty.com.  We'll go look at the Vista at Waikoloa and the Villages at Mauna Lani.  This is paradise.