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July 15th, 2017 11:47 AM by Korby Matsen RB-21643
Waikoloa Beach Resort is a beautiful, world-class resort located on the West Coast of the Big Island of Hawaii. This 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 or 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 (July 7th), there were 9 single-family homes on the market and 63 condos for sale in Waikoloa Beach Resort. Of the homes for sale in the Waikoloa Beach Resort, the highest priced one is a waterfront home listed at $6,405,000, located at 69-1037 Kolea Kai Circle, in the Kolea subdivision. The least expensive home on the market is located at 69-9200 Ainamalu St, in Waikoloa Beach Resort’s newest development, Ainamalu at Waikoloa Beach. It is listed at $865,000. In the condo market, the highest price condo currently available is listed at $2,550,000 and is Unit #4F in Kolea Condo Villas. While at the other end of the spectrum, the lowest priced condo currently on the market is listed at $339,000 and is Unit #118 in the Shores at Waikoloa Beach Resort..
In the 2nd Quarter of 2017, there was, once again, no single family homes sold in the Waikoloa Beach Resort, although there are 12 homes under construction in Ainamalu at Waikoloa Beach that are already under contract. Of these, the highest priced one went under contract at $1,049,000, and is located at 69-9195 Ainamalu St., while the lowest priced one under contract is located at 69-9208 Ainamalu St and is priced at $725,000. We will not know the final sales price until construction is complete and the transactions close.
In the condo market, the Q2 time frame between April and June saw 32 condos sell, up slightly from the already impressive 30 units sold in Q1 of 2017. The highest priced of these condos sold was Unit 13A in Hali’i Kai at the sale price of $1,100,000, from a list price of $1,175,000. While the condo with the lowest sales price went for $342,000, from a list price of $349,000. It is Unit 104 located in the Shores at Waikoloa Beach Resort.
Analysis: The market in Waikoloa Beach Resort appears to be shifting. There has been a drop in available condo inventory in the last two quarters that is about 20% lower than in previous quarters, and about a 30% increase in sales. At these numbers, we are very close to a balanced market in the condo segment and for the Ainamalu at Waikoloa Beach development; they are well positioned as the only single family homes available for under $1,000,000.
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 you make your Hawaiian Real Estate dreams a reality. You can read more updates about other areas of the Kohala Coast on the Market Update Page of my website. Mahalo
Highlights of the 2017 Q2 Waikoloa Beach Market Update
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