In my latest blog about the Halii Kai real estate market, I noted that in September 2014 sales appeared to falter, with nothing in escrow. As it turned out, one more sale did occur before the end of the year. Our ocean view three-bedroom listing Halii Kai 11F sold for $1,075,000, slightly raising the average sales price at Halii Kai for the year 2014.
|MLS Sale $||10||$415,000||$1,300,000||$817,100||$832,500||N/A|
|DOM to sale||10||86||690||231||185||N/A|
|SP to LP %||10||93.2%||100.0%||96.4%||96.1%||N/A|
2014 Halii Kai Sales Distribution Shifts
While in 2013 the median price of the thirteen units sold was only $550,000 and only one of the 2013 sales was over $1 million, in 2014 the median price rose to $832,500 and four of the ten sales were in excess of the million-dollar mark, including oceanfront Halii Kai 13D, and three ocean view units, all 3-bedroom floorplans.
Recent sales favor golf/ocean view, like Halii Kai 6F listed for $999,000 (MLS# 279797)
In fact, six of the ten Halii Kai condo sales in 2014 were oceanfront/ocean view; two were golf view, and only one in the Coconut Grove garden view. The lowest priced sale was the only distress sale, in building 16 with a peekaboo view across the Ocean Club parking lot.
This represents a distinct shift in 2014 versus 2013. Buyers were, as I predicted a year ago, looking for the relative values in the more expensive view areas, rather than for absolute low prices.
Halii Kai’s direct oceanfront like Villa 15F for $2 million (MLS# 279648) looks like a relative value compared with Mauna Lani
Currently there are three units in escrow. Halii Kai 9G will close next week, as ocean view 3-bedroom buyers worked right down the line of buildings from the Ocean Club back. The next active listings of this floorplan are in Building 6, where the ground floor 2-bedroom 6C is also contingent.
In the Coconut Grove, there is one ground floor three-bedroom in escrow as well.
Halii Kai 2015 Sales Outlook
With Halii Kai’s fabulous oceanfront amenities (pool, hot tub, workout pavilion, and private restaurant), even the smallest condo farthest from the pool is valued at a premium compared with other communities in Waikoloa Beach Resort. Three condos sold under $500,000 in 2014. There are only two listings in this range, Halii Kai 20B in the Coconut Grove at $489,000 asking price (MLS# 279732) and 5B at $519,000 are right in line with recent sales, if you are a buyer looking to dip your toe in the Kohala Coast resort condo market.
Halii Kai 5B is a ground floor two-bedroom, listed for $519,000 on the golf course (MLS# 280076)
The middle range at Halii Kai will have prospective buyers evaluating what they value more. Do they prefer the largest floor plan and upgrades of Halii Kai 20G listed at $725,000 (MLS# 278644) or the bit of ocean view from Halii Kai 8B, the smallest floor plan, listed at $690,000 (MLS# 279417)?
If you need help making sense of the options and the pricing at Halii Kai, feel free to get in touch. Our team has sold more Halii Kai resales than any other agents and we’re happy to share what we know.
A hui hou,
Beth Thoma Robinson, R(B)