Hawaii Life Real Estate Brokers » Big Island

The Hawaii Life Dream Team Opens a New Office in Kona

Diane Chavez, RS — Thu, 24 May 2012 02:45:21 +0000

Big Island is pleased to have a new Hawaii Life office in Kona!

The celebration of the Grand Opening was attended by the owners Justin Britt, Matt Beall, and Winston Wellbourn (pictured left to right)

Margaret Reynolds (BIC for the Kona office) is placing a Haku lei on Katie Minkus (BIC for the Big Island)

Waikoloa Beach Resort vs. Mauna Lani Resort: What’s the Difference?

Dan Fumento, R(S) and Marion Fumento R(S) — Wed, 23 May 2012 03:30:30 +0000

Many clients ask about the difference between these two popular resorts (that’s sunset at A Bay on the left, Mauna Lani on the right) and since we have lived in both resorts, here is a rundown of differences between them.

Homes and Condos

Both Waikoloa Beach Resort (WBR) and Mauna Lani Resort (MLR) have two golf courses each. Both have some single family homes, some are oceanfront, but most of the residences are condos. While a few condo complexes have some ocean frontage, in most cases, the condo complexes surround the golf courses. While some complexes in WBR such as Kolea and the ocean view condos at Halii Kai command higher prices, generally, there are more lower priced condos available in WBR than MLR.

Vacation Rentals and Income

WBR has a great reputation for vacation rental condos and it seems to be the first place most people look when checking on the web. This is probably due to the fact that there are many condos available at very reasonable rates. A 2-bedroom unit will go from $125 to $175 a night. The majority of vacation renters looking for condos are one or two couples or a couple with kids, so this size condo and price is what they want.

It is possible to see 70-75% occupancy rates in WBR. MLR is not as well known and the same size 2-bedroom units there will usually go for a higher nightly rate. It seems that most Mauna Lani rentals are not able to hit the same occupancy rates as WBR.

Beaches and Amenities

A Bay is the beach at WBR. It is a long beach on a calm bay, great for kids and all kinds of water sports, which are available there. Snorkeling is fair on the south end of the bay. No beach chairs are provided unless you are staying at the Marriott, so you have to bring your own chairs.

MLR is a private beach club owned by all the homeowners. Beach chairs are provided to homeowners and there is a restaurant right on the beach open for lunch and dinner. The beach is much smaller than A Bay, but very picturesque and the snorkeling is some of the best on the island.

Shops and Restaurants

WBR is an active and busy resort with two shopping areas, the Queeens Marketplace and the Kings Shops, so there are lots of stores and many restaurants to choose from. WBR also has a large market so vacationers don’t have to leave the resort for everyday things.

MLR also has a shopping area, a market, and several restaurants, but the resort has a completely different feel. It is very quiet and laid back compared to WBR and the number of empty storefronts attests to a much lower volume of traffic. We suspect this is due to the fact that in any given week there are far fewer renters in MLR than WBR, so fewer tourists visiting shops. Conversely, MLR probably has a higher percentage of homeowners in residence. There are no hard facts here, just our opinion from living in both resorts.

So which is better? Of course, that depends on what you are looking for. If rental income is of primary importance, you might choose Waikoloa; for a longer term retirement situation some might choose Mauna Lani. But price, square footage of units, amenities, activities, and even aesthetics all play a part in the decision.

We make a point of always showing clients property in both resorts and we find that after some discussion and answering their questions, they are usually able to make the decision easily as to what suits them best.

Kona Real Estate Market Update (May, 2012)

Todd Barrett, R(S) — Wed, 23 May 2012 00:00:58 +0000

The Kona real estate market continues to stabilize with greatly reduced inventory and improved activity in the upper price ranges.

Does the sustained increase in buyer activity, pending, and closed sales signal the bottom for Kona?

Kona Market at a Glance

The data continues to indicate strong activity in the Kona real estate residential market. Pending ratios are up nicely from a year ago due to an increase in pending sales and a decrease in active listings. The ratio is off slightly from the high in mid-March as we are experiencing some seasonal slowdown. Prices have been nearly unchanged since January when pending ratios began their steep climb.

Distressed Properties Continue Their Decline

The North Kona and Waimea real estate markets for distressed properties continue their decline. However, the declining trend in North Kona has slowed. The number of REO’s and Short Sales in the current North Kona active listing inventory is at a new low. It had been as high as 19.6% in August of 2011, but now stands at 11% of the Kona real estate market.

The highest percent of distressed active listings is in Waikoloa. The percentage of distressed properties in Waikoloa had been as high as 40% in November of 2011, but has come down to 31% of the Waikoloa market. Currently, Short Sales far outnumber REO’s, as witnessed by the 82% of distressed pending sales in North Kona are Short Sales.

The land market remains weak, with pending sales low due to the relatively abundant supply of residential properties that are in many cases selling below replacement cost.

Want the Most Accurate Information For Sound Buying Decisions?

Staying up to date with the North Kona residential inventory is what I do best. As an Accredited Buyer Representative (ABR), making sure that my clients have the most accurate information in order to make sound buying decisions is my mission. If you are in the market for real estate anywhere on the sunny Kona coastline, please contact me anytime for a no obligation “talk story” about why I make Kona home. Let me help you to live your best Hawaii life!

Please feel free to contact me anytime at:

Todd W. Barrett, Realtor(S)
Direct: 808.937.1629
Email: Todd@HawaiiLife.com

*Data republished with the courtesy and approval of the Griggs Report.

Spacious & Spectacular Custom Home Showcasing Panoramic Ocean Views in Kailua-Kona

Heidi White, R(S) — Tue, 22 May 2012 22:37:13 +0000

This home (MLS# 254368) is located near great schools and shopping convenience, yet tucked away in a neighborhood of quality, luxury homes. This (MLS# 254368) is a custom home that showcases pride of ownership!

Featuring a 4 bedroom 3 bath home with potential for separating 2 bed/1 bath with its own entrance. Now is a great time to buy! The ground level basement could be a huge workshop and there is also room for a pool! Don’t miss this chance!

Expansive Kona coastline and sunset views all year

This is my listing and I have recent sales in this area. Please feel free to call regarding this or any area on the west side of Hawaii Island. This market is HOT!

Announcing Maile Cottage in Puako Now Available Through Hawaii Life Vacation Rentals

Kahea Zietz, RA — Sat, 19 May 2012 06:32:28 +0000

Located just a two minute’s walk from the sandy beach of Waialea Bay, this two bedroom/two bath tropical bungalow features a king bed, two twins, and is filled with comfortable Hawaiian-styled furnishings.

The view of Waialae Bay and the Kohala Coast from the property

With constant sunshine and some of the best ocean views on the Big Island, the Kohala Coast — a.k.a. Gold Coast — presents an abundance of opportunity for ocean-play, including snorkeling, kayaking, and fishing.

The wide-open spaces of the Big Island to take in

Highlights of the Maile Cottage

Full Kitchen
Spacious Indoor Lanai w/ Couch
Outdoor Lanai w/Gas BBQ and Dining Table
Ceiling Fans
Washer and Dryer
WiFi
Large Flat Screen TV

Hawaiiana-style furnishings fill the interior

The indoor lanai begs for a good book or an afternoon nap

Grill up some fish, take a seat outside, and dine with the ocean in view

Just north of Waikoloa Beach Resort, a ten-minute drive offers visitors numerous restaurants, boutique shops, and world-class golf courses. With wintertime whale sightings and the vast open spaces of the Big Island to contemplate, the question to be answered is just how relaxed can one get.

Aloha,
Kahea

Investir a Hawaii: Reve ou Realite?

Catherine Klug, RS — Sat, 19 May 2012 01:30:55 +0000

Les raisons ne manquent pas de s’installer sous des cieux plus clements les mois d’hiver mais gare au coup de soleil…vivre quelques jours en touriste dans un paradis balneaire comme Hawaii, ce n’est pas la meme chose que d’y habiter plusieurs mois.

Des prix plus abordables

Les annonces allechantes pour de simples pied-a-terre ou des villas de luxe en bord de mer abondent sur internet sous toutes les latitutes. Il en est de meme sur la “grande ile” d’Hawaii (Big Island of Hawaii) ou je reside et exerce la profession d’agent immobilier depuis 1998. Entre 2007 et aujourd’hui, les prix a Hawaii ont fondu jusqu’a parfois de moitie. La chute des valeurs est peut-etre stoppee, si l’on en croit quelques signes de reprise de l’immobilier, tout particulièrement cette dernière saison hivernale. J’ai récemment vendu une maison avec 4 chambres juste en face de la mer a Puako, un des endroits les plus desires de la Kohala Coast, pour $840,000 alors qu’elle avait été achetée $1,400,000 il y a sept ans.

Une qualité de vie

Hawaii n’est sans doute pas la destination première des Francais qui favoriseront un investissement immobilier au Maroc, en Thailande, a l’ile Maurice ou encore en Floride mais elle l’est en revanche pour de nombreux Canadiens. Avec la crise, les opportunités se sont multipliées. Le moment ou jamais de concilier l’utile a l’agréable. Il est toujours tentant d’aller “hiverner” dans des pays ensoleilles mais attention au cout de la vie quotidienne, tout reste très cher a Hawaii. Il faut apprendre a connaitre les bons endroits pour faire son shopping : sacrifier les vins français, le fromage, ne pas diner au restaurant tous les soirs , ni prendre racine aux terraces des resorts pour boire un mai-tai en bord de mer. Prendre gare a la clim’ : la facture de l’énergie peut representer des sommes folles. Et ne pas tomber malade! Les soins ne sont pris en charge par l’assurance maladie que pendant quatre-vingt-dix jours. Pour des séjours plus longs, il faut prévoir une autre couverture.

Une opération bien preparée

Faire une acquisition a l’étranger n’est pas une mince affaire. Les règles américaines applicables a une acquisition immobilière par un étranger sont très différentes des règles françaises et les services d’immigration, en particulier, ne plaisantent pas le non-respect de la réglementation.

Quant au produit numéro 1 propose a la vente, le “condo”, un appartement en copropriété ou les charges peuvent atteindre chaque année de 5% a 10% du prix d’achat, il faut savoir que les ventes a prix casse (“short sale“) doivent conduire un accord a trois entre banque, acheteur et vendeur, une procédure longue et compliquée. Se lancer dans ce type d’opération impose de la patience et de s’appuyer sur des agents qui ont de l’experience en “short sales”. J’ai acquis de l’experience dans ce domaine due a un marché immobilier qui s’est effondre. J’ai recemment cloturé une vente a prix casse d’un appartement a Halii Kai a Waikoloa Beach Resort apres une transaction difficile avec deux banques differentes. Mes clients ont ete tres satisfaits de leur achat, meme s’ils ont du attendre 6 mois pour devenir proprietaires d’un luxueux appartment achete a $695,000 alors que le proprietaire l’avait acquis en 2007 pour $1,683,600.

Bien Choisir

Quel que soit le pays ou vous voulez vous installez ou investir, il est indispensable pour realiser l’acquisition dans de bonnes conditions juridiques et financieres de s’entourer de conseils de professionnels independants, qui ne defendent que vos interets a vous. C’est ce que l’on vous offre a Hawaii Life Real Estate Brokers, un groupe d’agents immobiliers solides pour que votre reve sure les iles Hawaiiennes ne se transforme pas en galere, voire en chauchemar!

Puu Lani Ranch Home – A Desirable Equestrian Community in Historic Puuanahulu on the Big Island of Hawaii

Claire K. Bajo RS — Thu, 17 May 2012 05:30:47 +0000

Aloha! This gorgeous property at Puu Lani Ranch just got a price reduction (MLS# 253254) and it’s ready for the perfect owner! It is a horse-friendly community, though not all owners have horses…they just love the quality of life in this gated country community!

About This Home

Nicely landscaped with beautiful roses and hibiscus, you will be greeted by the gorgeous scents and colors as you come home! The stained concrete driveway with lots of space to park for you and your guests makes it easy to load and unload. There are no stairs in this home and it’s all tiled inside, so anyone who needs special care will be able to get around if a wheelchair or walker are needed.

When you walk through the Koa double-doors, you see the dramatic entryway of Ohia posts, and the custom open floor plan with skylights and featured wall space that offers room for your collections of art or sculptures that take your breath away!

Around the corner from the grand entryway is this beautiful custom kitchen. With features of granite, Koa cabinets, a walk-in pantry, and lots of lighting, your guests will be dazzled by the experience of being entertained in such a gorgeous room!

Coming home to your sacred sanctuary will heal you as you unwind and enjoy the jetted aromatherapy tub, or separate shower and double-sink vanity. The high ceilings and quality lighting features make it easy to relax and put you in a state of “heaven” in your thoughts.

If you’d like to see this or any property in Puu Lani Ranch, I’d be happy to show you around! The grounds are very well kept and the active association is constantly looking for ways to offer more value to the lifestyle here! Besides being amongst the beautiful landscapes and gorgeous homes, you will have peace of mind with so much more at Puu Lani Ranch!

So, where do you see your dream home in Hawaii? Let me help you find it!

With Warmest Aloha~

Claire K. Bajo, RS, SRES
808-756-4874
claire@hawaiilife.com

Great Price: Fully Furnished Ground Floor Condo at Waikoloa Resort

Dan Fumento, R(S) and Marion Fumento R(S) — Wed, 16 May 2012 04:00:15 +0000

This 2-bedroom Fairway Villa at the Waikoloa Beach Resort (MLS# 253939) is only $325,000.

Good deals are harder and harder to find with the low inventory in the resorts. We showed this unit the other day. It’s a desirable ground floor unit on the golf course and is in great condition.

The condo is 2 bedrooms with 1,033 square feet. It is not a short sale and is being sold fully furnished, including all linens and kitchenware, so it is move in ready. At $325,000, this is a good buy as prices have been inching up for resort condos.

The Fairway Villas is an easy walk to the beach, shops, and restaurants and the condos here rent well because of the great location in the resort. Only on the market 8 days, this will go quickly.

Where Can You Buy a B&B For $399,000?

Heidi White, R(S) — Wed, 16 May 2012 02:15:27 +0000

In Kona, Hawaii! Well, it’s actually considered South Kona, on Middle Keei Road above – and with expansive ocean views – of the beautiful, historical Kealakekua Bay!

This home (MLS# 252489) is being offered for $399,000

A previously operating B&B named “South Kona Hideaway“, this property is on an acre of land in the prime Kona coffee growing area! So, plant coffee and have your own organic garden. Boy, if you snooze you loose on this one. It’s a short sale, so closing will not happen fast, but it will be worth the wait!

I love to go swimming in Kealakekua Bay, often with dolphins and whales nearby me in the water in season

It is a dreamy location for sure! We are seeing prices at the rock bottom. With the inventory drying up, this property will soon be snapped up. We won’t see home prices get much cheaper.

Best Buy in Kukio Real Estate

Beth Thoma Robinson, R(B) — Tue, 15 May 2012 22:41:56 +0000

Since I’m writing about what I consider the current best buy in real estate at the exclusive Kuki’o resort, you may think I’m going to talk about the home that is to be auctioned May 24, 2012. You might especially think so if you’ve found your way to this site via my guest blog post on the Concierge Auctions website.

That 5-bedroom, 5,456 sq. ft. home on Lot 57 may well end up being a great deal for someone. Pre-auction price of $9,750,000…bids on this Kuki’o home (MLS# 245643) begin at $3,995,000 and if it is any indication, the “buy it now price” (meaning, that’s what it is listed for in the MLS) is $8,195,000.

This home at Kuki’o Phase 1 Lot 57 is set to be auctioned on May 24, 2012…bids start at under $4 million

Is the Kuki’o Real Estate Auction a Best Buy Opportunity?

Now that we have a number of real estate auctions completed on the Big Island (and elsewhere in Hawai’i), I’ve reached some conclusions about how to judge the success of an auction. For you as a prospective buyer, the key is to know the comps, just as it is in any real estate purchase.

The starting price for the auction on the Kukio home is $3,995,000…and the vacant lot next door is listed for $3,250,000. One way for a prospective buyer to calculate how much they’d be willing to pay for this home would be to think in terms of replacement cost. If you are buying at this level you probably have a good idea of cost/sq. ft. to build in your neighborhood, but keep in mind that construction costs are higher in Hawai’i.

Then add something because the residence comes furnished…and one should think in terms of $100/sq. ft. just for interior design. Of course, as with all properties conveyed at Kukio, the sale of the property does not include the cost of membership in the private equity club (the fabulous amenities are, after all, the reason to buy at Kukio!), and the terms of an auction include a buyer’s premium whereas the seller pays commissions in a regular sale.

Best Buy Pick: Kukio Residence Phase 3 South Lot 6

The “wow” factor on this Kuki’o residence begins with the stunning waterfalls at the entrance

Another way to decide what would make this home a “best buy” would be to look at other homes for sale at Kukio. A few days after my partner, Pam Deery, R(B), and I viewed the home at the sunset Broker Preview sponsored by Concierge Auctions, a few of us from Hawaii Life jumped in with the Kukio Properties sales team to do just that (remember, they represent the sellers, and you as a prospective buyer do have the right to your own representation).

Since the “buy it now” price (doesn’t that sound a little like eBay?) on the auction property is $8,950,000, we looked at another home for sale at $8,900,000. That second property, the Kukio home in Phase 3 South Lot 6 (MLS# 248987), won hands down.

What did we love about this 4-bedroom, 7,669 sq. ft. home that made us prefer it to the property up for auction, at least at that price?

How brilliant is this design? Home theater below main home has waterfall on one side, underwater view of pool on the other

Sheer “wow” factor. We see a lot of properties with exquisite finishes, panoramic views, big pocket doors opening up to the pool area for indoor/outdoor living, multiple private guest suites. This home stood out from the moment we walked across the entrance bridge flanked by waterfalls cascading down to a lower level. In contrast, the entrance to the property being auctioned seems like wasted space (although it was a great place to sit and make private phone calls in the midst of a broker event because no one was hanging out there!)
Distinctive floor plan. Among our favorite features of the layout were the indoor/outdoor family room next to the pool (perfect for those of us with fair skin) and the home theater on the lower level flanked by the “waterfall lounge” on one side and the “pool lounge” on the other. Yep, if you are bored with the film, you can watch the waterfall…or an aquarium-style view of who ever is swimming in the pool!

Clearly, the photos do not do this property justice, as the money shots of the two homes taken from the pool looking back at the interior look virtually identical.

Of course, all of this bling means a lot more home and a lot more maintenance. If what you are looking for is a good solid property that has all the basics right, a nearly blank canvas to personalize with your artwork and taste, the auction property could be your key to membership at Kuki’o.

The Most Expensive Property Listed at Kukio

The most expensive home for sale at Kuki’o is listed for $29,600,000 (MLS# 250605)

With the heavy traffic we get on our Hawai’i Life website, those of us who respond to elite inquiries get a lot of questions about the most expensive property listed on the Big Island. Currently, that’s the residence listed for $29.6 million on Lot 87 at Kuki’o (just edging out the $28 million front row home at Hualalai Resort next door). For comparison purposes, we ended our tour at Kukio Phase 1 Lot 87, which has been on the market about 4 months and already turned down one offer.

Part of the price point is the view…although not oceanfront or even really that close to the oceanfront, the topography in front of the home and its perfect siting gives the impression of nothing between you and the ocean. Part of it is sheer size: 6 bedrooms, 9,382 sq. ft. interior with a total of 13,798 sq. ft. built on over an acre of land. Bedroom count misses out that there is a room for everything in this luxury residence: in the master suite wing alone there are rooms for working out, getting a massage, and his and her offices.

Who builds or buys a home like this? Remember that one of the features that distinguishes Kuki’o from Hualalai Resort is that there is no hotel, no vacation rentals, and a membership plan that only allows guests accompanied by owners and their direct family to use the amenities. At the risk of violating Fair Housing Act guidelines that make us hesitate to use the word “family” in describing real estate, there is no way to explain the Kuki’o Golf and Beach Club membership without making that distinction.

Interestingly, it is not only baby-boomers buying at Kuki’o these days…increasingly new members are in their 40′s, and yes, their parents are included in the membership benefits.

If Money is No Object…

If you are looking at the Kukio home for $29 million, but like many of today’s buyers want to know what would compare at other Kohala Coast resorts, I would suggest we view a handful of other properties.

This Hualalai Resort residence gets Balinese pod-style right (MLS# 250438) reduced to $16,500,000

My first “must see” is the newly constructed Bali-style home at Hualalai Resort listed by Hawai’i Life. Also on 1.33 acres, this property has the privacy that compares with the Kukio top home, and its dreamy Bali-style design and furnishings give it the “wow” factor. Sellers have already reduced their asking price from $18.5 million to $16.5 million…so let’s talk about offer price!

Oceanfront home for sale at Mauna Lani’s 49 Black Sand Beach (MLS# 249543) has mesmerizing views

This week, Pam and I had a sunset showing for clients at an oceanfront home at Mauna Lani’s 49 Black Sand Beach residential community. Another recently completed and never occupied home, for the buyer who does not need or want to pay for the level of amenities available to members with a real estate purchase at Hualalai or Kukio, this location is stunning.

The lot is extra-wide, allowing for more of the rooms to enjoy the oceanfront views. Offered for $11,900,000 beautifully furnished, Sellers have also turned down offers already…so sharpen your pencil.

A hui hou,

Beth Thoma Robinson, R(B)
Direct: 808.443.4588
Email: Beth@HawaiiLife.com