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April 14th, 2017 2:25 PM by Korby Matsen
Waikoloa Beach is a beautiful resort located on the West Coast of the Big Island of Hawaii. This world famous Kohala Coast resort contains everything to make your Hawaiian experience complete. Waikoloa Beach Resort is home to the Hilton Waikoloa Village Hotel and the Waikoloa Beach Marriott Resort and Spa.
There is great shopping at the Queen’s Marketplace and the King’s Shops, and great restaurants like Roy’s Waikoloa Bar & Grill, the Macaroni Grill and the Lava Lava Beach Club. Waikoloa Beach Resort also contains two world class golf courses, the Beach Course and the King’s Course, and of course, the spectacular white sand beaches are also close by.
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At the time of this writing (Apr 12th), there are 5 single family homes and 60 condos for sale in Waikoloa Beach Resort. The five single family homes are part of a new home development called Ainamalu at Waikoloa Beach that has just broken ground and all homes are currently under construction. Of these homes, the highest priced one is listed at $1,600,000, and is located at 69-1525 Ana’ole St, while the one with the lowest price is located at 69-9195 Ainamalu St. and is listed at $775,000.
In the condo market, the highest price condo currently available is Unit #4F in the Kolea Condo Villas, which is in the Kolea subdivision and is listed at $2,550,500. While at the other end of the spectrum, the lowest priced condo currently on the market is listed at $359,000 and is Unit #104 in the Shores at Waikoloa Beach Resort.
In the 1st Quarter of 2017, there were no single family homes sold in the Waikoloa Beach Resort, but within the new home development, Ainamalu at Waikoloa Beach, they do have 8 single family homes already under contract that have not been completed yet, The highest priced of these homes is $875,000 and is located at 69-9207 Ainamalu St, while the lowest priced is $725,000 and is located at 69-9208 Ainamalu St.
In the Q1 time frame between January and March, there were 30 condos sold Waikoloa Beach Resort, almost double the 16 units sold in Q4 of 2016. The highest priced of these condos sold was Unit 6B in Kolea Condo Villas at the sale price of $1,650,000, from a list price of $1,750,000. While the condo with the lowest sales price went for $260,000, from a list price of $265,000. It was Unit 208, a one bedroom unit located in the Shores at Waikoloa Beach Resort.
Analysis: The sale of condos in Waikoloa Beach Resort spiked sharply in Q1 over Q4 and was higher than any Quarter in 2016. Combine this with an inventory that is at its lowest level in over a year, and you have the early signs of a shifting market. A balanced market is considered to be at six months worth of inventory, and that is where we are now, so it will be interesting to watch the next few quarters to see if this is a pattern, or just an aberration.
If you are looking to buy or sell a home in the Waikoloa Beach Resort, or anywhere on the Kohala Coast, contact me today. I will help make your Hawaiian Real Estate dreams a reality. If you enjoyed this Real Estate Update, you can read about other areas of the Kohala Coast on my Market Update page. Mahalo
Highlights of the Waikoloa Beach Market Update for Q1 2017