Hualalai on sale?
Golf at Hualalai Resort
While 18 sales in 18 months doesnâ€™t sound like a flurry or frenzy, it is in Hualalai. The current market shows the â€œvalue condosâ€ have sold, and the market is steady; more so than in the past few years, including 2005-2007 when the upper end did not sell. With the reality having finally set in, owners are finally pricing their properties to sell, and buyers are apparently comfortable the prices are within range as sales have definitely begun to increase.
My buyer client asked me to review an entry level two bedroom condo just before the holidays. The unit he chose was a nice enough unit, but at the lowest end of the price range for the Hualalai Resort. Priced at $994,900, it is a ground floor flat in the Hainoa Villas with a garage, but was, in my opinion, very dark and right on the road with highway noise and car lights. The kitchen felt like my college days, efficiency onlyâ€¦not for a cook.
It would not be the unit I would purchase myself, nor recommend to any of my buyer clients when there are better locations and views for $1.295 (MLS# 223930) that might actually appreciate in time rather than depreciate as this one has done to the bottom priced unit in the entire resort.Â Tough sell!
As I continued my search for what I knew my buyer was looking for, I previewed Halâ€™iipua Villas, which is the newest project in Hualalai.Â They are comprised of 3 condominiums in 4 buildings for a total of 12 residences; 9 of which were still available at the time of our visit and previewÂ last week.
They are townhouse in style with reverse living to take advantage of good ocean and Kohala mountain views.Â Priced at a modest (for Hualalai) price of $2.2M to $2.5M with 2,600-2,915 sq. ft., these lovely view residences are on the fast track to sell out within the next few months. While I understand the price difference is double, there truly is no comparisonâ€¦VW or Cadillac!
If you want to get your â€œfoot in the door,â€ there are still a few great units at bargain prices to be had, but they surely wonâ€™t last the winter as our market is moving much more steadily than the past several years, and inventory is diminishing which will of course be a turning point as Hualalai is a small and exclusive resort.Â Supply and demand!
Living and loving the resort lifeâ€¦see you soon!