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February 17th, 2019 11:33 AM by Korby Matsen
Waikoloa Village is a charming community located 6 miles inland from the west coast of the Big Island of Hawaii. This lovely community covers over 19 square miles and is a mixture of condominiums and single family homes. Waikoloa Village offers its residents wonderful amenities such as an 18-hole golf course, a community swimming pool and tennis courts.
Also within Waikoloa Village is the Waikoloa Highlands Shopping Center, which contains many shops and restaurants, including the Waikoloa Village Market, Island Lava Java and Pueo’s Osteria Italian restaurant. With its proximity to the world-famous resorts and beaches on the Kohala Coast, Waikoloa Village makes an affordable alternative for the savvy buyer looking for their Hawaiian Dream Home.
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At the time of this writing (Feb 10th), Waikoloa Village had 28 single-family homes for sale, with 20 in escrow and 16 condos for sale, with 13 in escrow. Of the homes for sale, the highest priced one is listed at $849,000, and is located at 68-1981 Kawika St., while the highest priced condo currently on the market is listed at $729,000 and is Unit #12 in The Pointe at Waikoloa. At the other end of the spectrum, the lowest priced single-family home on the market is located at 68-3514 Kupunakane Pl and is listed at the low price of $449,000. While the lowest priced condo currently on the market is listed at $219,000 and is Unit G104, located in the Waikoloa Villas.
When it comes to sales in the 4th Quarter, the number of single-family homes sold again outpaced the number of condos sold. In this time from October through December 2018 there were 18 homes sold in Waikoloa Village, while 13 condos were sold. Of those homes sold, the highest priced one is located at 68-2142 Laakea Way, and sold for $777,595, from a list price of $760,000. While the most expensive condo sold for $615,000, from a list price of the same amount and is Unit #13, located in the Pointe at Waikoloa. The lowest priced home to sell during the 4th Quarter was a home located at 68-3704 Eha Ko St, that sold for $444,614, from a list price of $447,000, and the condo with the lowest sales price went for $155,000, from a list price of the same amount and is in the Fairway Terrace, Unit G105.
Analysis: After two quarters of brisk sales in Waikoloa Village the sales volume in Q4 dropped by about half of previous two quarters. This may have a lot to do with the robust sales volume throughout 2018 depleting the available inventory of homes and condos down to under a two-month supply. We will wait to see if this is a trend or an aberration. But the low inventory levels do put Waikoloa Village firmly in a Sellers’ Market in both the single-family home and condo markets.
If you are looking to buy or sell a home in Waikoloa Village, or anywhere on the Kohala Coast, contact me today. I will help you make your Hawaiian Real Estate dreams come true. Mahalo
Highlights of the Waikoloa Village Update for Q4 2018
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