February 1st, 2017 4:43 PM by Korby Matsen
Waikoloa Beach Resort 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 also 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.
At the time of this writing (Jan 20th), there were no longer any single-family resale homes on the market in Waikoloa Beach Resort, but a new development called Ainamalu at Waikoloa Beach has just broken ground and they have initially listed 11 homes for sale. The most expensive of these homes is listed at $1,600,000 with the lowest price one listed at $835,000. In the condo arena there are currently 74 condos for sale in Waikoloa Beach Resort. The highest price condo on the market is listed at $2,375,000 and is Unit #4C in the Kolea Condo Villas, which is part of the Kolea subdivision. While at the other end of the spectrum, the lowest priced condo currently available is listed at $349,000 and is Unit #118 in the Shores at Waikoloa Beach Resort.
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In the 4th Quarter of 2016, there was, once again, no single family homes sold in the Waikoloa Beach Resort, and this is a good reason why a new development called Ainamalu at Waikoloa Beach has just broken ground with a Phase I plan of 40 new single family homes. But meanwhile, in this time frame between October and December, there were 16 condos sold, the same number that was sold in the 3rd Quarter. The most expensive 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 $295,000, from a list price of $299,000. It is Unit 217 located in the Shores at Waikoloa Beach Resort.
Analysis: The sales of condos in the Waikoloa Beach Resort in 2016 were at the same levels as they were in 2015. This volume of sales has not been enough to absorb the large inventory of condos that are currently on the market. These factors, combined with lack of price appreciation, makes for a continuation of a Buyer’s Market in Waikoloa Beach Resort.
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 come true.
Highlights of the Waikoloa Beach Market Update for Q3 2016
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