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Condos

Halii Kai – Record Low Number of Condos for Sale

Only four condos are currently for sale at oceanfront Halii Kai at Waikoloa Beach Resort. I left the Halii Kai developer sales team early in 2008, and in the 11 years since then, I have never seen inventory of condos for sale this low! All four listings are active vacation rentals, so the time to get in to see them and make an offer would be now — before the high season begins in November.

Halii Kai 15C oceanfront condo for sale

Halii Kai 15C, two bedroom condo for sale, directly on the oceanfront with built-in wet bar on the lanai (MLS 626227)

Strong 2019 Sales Deplete Halii Kai Listing Inventory

Since the beginning of 2019, there have been nine condos sold at Halii Kai, with another two in escrow. There were a dozen sales in 2018, down from a record 17 sales in 2017, a decrease I attributed to the effects of the eruptive activity that was “disruptive” activity even for our west side real estate markets.

Note that median sales price is slightly up from the $750,000 average of the past two years…but this says more about distribution between location of Halii Kai condos (Coconut Grove, golf course, or oceanfront) than about the pricing of individual units.  Prices appear to be pretty stable across the past three years, with one of the four current listings on the market for just over what the current owner paid two years ago.

Summary – Halii Kai Sales 2019 YTD
# Lowest Highest Average Median Mode
Listings 9 $619,000 $1,250,000 $853,433 $799,000 $650,000
MLS Sale $ 9 $590,000 $1,220,000 $825,778 $787,000 N/A
DOM to sale 9 9 285 125 106 N/A
Sale/Current Price 9 90.8% 100.0% 96.8% 96.2% N/A

Active Listings – Four Halii Kai Condos for Sale

There are 24 identical buildings at Halii Kai, but prices vary considerably for a condo that is identical to another one other than location and view. All the current listings are two bedroom condos (no three bedroom units are currently for sale). Again, all are successful vacation rentals.

Two of the four active listings are the smaller, ground floor two-bedroom condos. Halii Kai 5C (MLS 628709) is listed for $659,000 with a golf course and bit of ocean view…and unusual for this floor plan, it comes with a garage rather than a carport. Halii Kai 6C is in escrow, listed for the same price, one building closer to the ocean but no garage…so 5C seems appropriately priced.

The same unit in one of the three oceanfront buildings, Halii Kai 15C, is listed for $1,149,000. Consistent with todayʻs market, the pricing is still 36% below what the seller, an original owner, paid in 2006…and now it comes furnished with vacation rental bookings.

Halii Kai 11A -golf and ocean view

Halii Kai 17A (MLS 620660) and Halii Kai 11A (MLS 619323) are both the upstairs corner, larger two-bedroom, asking $819,000 and $994,000, respectively. The difference? Halii Kai 11A is right on the golf course overlooking the signature oceanfront hole; 17A is across the road, with its ocean view looking over Building 11ʻs garages.

If you are looking for a particular Halii Kai unit…or have one you are considering selling, please give me a call to discuss!

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