NEWS
FROM KONAAloha From Kona on May 19, 2008,
Market News
During the first few months of 2008, prices have continued to remain flat with some decline in the condo market as well as in homes priced between 600 and 2M. Inventory remains high and sellers are negotiating on terms and price for qualified buyers. Opportunity is here for great deals on beautiful properties for those buyers who are ready to make the commitment.
In Kona we have homes in the Palisades area listed from the high 300's and up. Pualani Estates new homes are listed from the 400's up. Kona Vistas has many terrific homes, some with pools from the 800's and there are wonderful opportunities in the mauka subdivisions with eye-popping views listed under 2M. In Waikoloa Beach Resort and at the Mauna Lani Resort, select new condos are being offered fully furnished and some have other enticements as well.
Baby Boomers, it is time to seriously think about your retirement or second home and take advantage of the opportunities that abound in this market. Call me for information!
Coldwell Banker's New Queens' Marketplace Office!
In November of 2007, Coldwell Banker Big Island Properties opened a beautiful branch office in the new Queens' Marketplace at Waikoloa Beach Resort. We can now offer greater convenience to our Kohala Coast and Waikoloa clients and have expanded our vacation rental services to owners of Kohala Coast Resort properties with a new program we call "Escapes". Visit our new web site at www.escapetoextraordinary.com to see what we can offer in the way of services to owners and guests. Properties are being added and content expanded daily. We are very excited to have greater involvement in this wonderful and rapidly growing area of the island. Agents are available from 9:30 am to 9:30 pm daily to take care of all of our clients' needs. Stop by and visit us if you are in the area!
| The Queens' Marketplace |
Aloha From Kona on August 30, 2007,
Market News
Buyers, if you were considering the purchase of a second home or investment property here on the Big Island, but were put off by the high prices of 2005 and 2006, it may be time to take another look. Prices on both homes and condos are down considerably over the last year and inventory is high. With the present mortgage situation it has become increasingly important for sellers to consider all offers and be willing to negotiate on price and terms. Some sellers are now willing to carry a portion of the debt to assist buyers in their purchase. Buyers with good credit and cash for down payments are being courted by lenders and may be in a better position to borrow than they were just a few weeks ago.
Here in the Kona area we are seeing residential home prices starting in the low 400's, where a year ago they were closer to 500K. New homes in Pualani are coming on the market in the mid to high 400's for the smaller models. That is great news for local buyers who want to escape a rental. Palisades also has quite a few homes listed in the high 400's to low 500K range and then on up. Homes in those areas make great long term rentals, but cannot be vacation rented.
If you are interested in a condo, there are some terrific buys in the market. Alii Cove has a large number of newer condos offered for resale in the 400-600 range depending on size and view. That is down 100+K from the levels of early 2006. Those units can be rented for longer term, but not for under 30 days. Hualalai Village, Sea Villas, and Alii Park Place offer similar savings on newer condos.
If you are looking for an interesting investment opportunity, I have a top floor Kona Bali Kai unit that is an oceanfront 2 bedroom, 2 bath unit with a large lanai being offered at 579K. It needs updating, but would then be a wonderful vacation rental or second home and is a great opportunity to own oceanfront property at a reasonable cost. That condo can be seen at: http://www.konadreamhomes.com/vacationrentalsphotoskonabalikai406.html
Up at the Waikoloa Beach Resort, a popular vacation destination, there are a number of Colony Villas and Fairway Villas condos being offered in the low to mid 500's on up to the 600's. Less than two years ago they all started in the mid 600's and went up to over 800K. Those would make terrific vacation rentals! Waikoloa Beach Resort is expanding and will open The Queen's Shoppes in October, which will feature mid to high end shops and a number of new restaurants. Our own office will be opening a new branch up there as well, and we are very excited about it.
If you'd like more information on any areas around Kona or up the Kohala Coast, please let me know. I'd be happy to address your questions.
Hurricanes and Earthquakes and the Lunar Eclipse
The Big Island has had a number of interesting happenings the last couple of weeks. Hurricane Flossie threatened the island with category 4 winds for a few days in mid August. We all heeded the warnings and made appropriate preparations, but to our delight, the hurricane fizzled out as it passed about 100 miles south of Southpoint. Here in Kona it did not even rain!
Just the day before the hurricane was predicted to hit, a level 5 earthquake struck the southeast side of the island, but it did not cause any measurable damage to property. We did not really even feel it much on the Kona side.
This week brought a spectacular lunar eclipse to Hawaii and the western portion of the US. David and I were able to stay up (surprisingly), and watched it from our driveway. It was a beautiful night and David was able to capture the eclipse on camera showing the various stages. I hope you enjoy the pictures...
8/27/2007 11:05pm HST
8/27/2007 11:16pm HST
8/27/2007 11:30pm HST
8/27/2007 11:45pm HST
08/27/2007 11:53pm HST
08/28/2007 12:15am HST This one is a bit blurry as it was taken with a 30 second exposure.
Life is never dull here on the Big Island and offers many opportunities and special moments! Aloha!
Aloha From Kona on January 14, 2007,
Happy New Year to all! As we begin the year filled with hopes and resolutions, I wish all of you peace, happiness, and good health. Life is precious and all too fragile; savor the moments...
Market News
As the Kona real estate market enters its high season, we are all getting questions on what will happen this year. I have fired up my new flat screen crystal ball and can say with certainty that nothing is certain! Apparently the new models aren't any better at predicting the future than the old round kind. What I can say is that we are seeing an increased number of calls inquiring about listed properties, the inventory has grown dramatically over the last year, and the market is much more favorable to buyers than that of a year ago, while interest rates remain low. Sellers are offering greater concessions on price and many are including incentives, such as credits toward closing expenses. It is a much more balanced market now, and it is a great time to look for that second home or retirement property. Many who are not ready to retire are purchasing properties with the intention to rent them out in order to offset expense until that magical day comes when they are ready to fly off into the sunset and start the rest of their lives in this beautiful, tropical oasis.
Sales figures comparing 2005 and 2006 indicate that while the number of sales for the entire Big Island of Hawaii are down by 26% for single family homes and 39% for condos, the median sale prices of single family homes has risen by 8.18% and the median prices of condos has risen by 16.91%. While sales numbers for 2006 are off a similar amount in the North Kona district, the gains have been more modest at 3.43% for homes and 3.85% for condos due to the higher increases for that region as compared to the entire island in the previous years.
New York Times Features the Big Island!
I was recently contacted by Vivian Marino of the the New York Times to discuss the market for second homes here in the Kona area. We had a nice chat, and it reinforced what I have observed over the last few years. Many people are looking for a place to retire that is away from the hustle of the cities. Most people will continue to work in some other capacity if they can do it via the internet or within another field. There is a notion of getting back to a more basic lifestyle, downsizing homes, having easy maintenance landscapes, more time for family, travel, adventure, new interests, and in enjoying life in general. People want an environment where they can be outdoors year round. While the Big Island is not for everyone, it has great appeal for many, and we feel it will continue to be a second home and retirement destination of choice for many years to come.
For a look at the article published January 12, 2007 in the Escapes section of the New York Times, click on:
Under the Sea!
Yellow Trumpet Fish
Striped Butterfly Fish
Spotted Puffer Fish
Raccoon Butterfly Fish
Aloha From Kona on October 19th,
By now I am certain that everyone has heard that we had a significant earthquake here 4 days ago. While the actual event was very dramatic and quite terrifying, we have come out of it fairly well. Most homes suffered only minor damage, and although some of our treasured possessions were lost or damaged, there were no serious injuries or deaths. Homes and condos at lower elevations seemed to fare quite well. I visited a couple of condos that only had a picture or two that were crooked. Homes farther up the mountain exhibited more evidence that a major event had occurred and will require some repair of cracks in the plaster, damaged rock walls, and broken windows and mirrors, but overall, we are doing very well. All stores and restaurants are open and it's business as usual. We all now have some stories to tell, and the major topic of conversation is to recount where we were and what we were doing when it hit. It has certainly reminded us all of nature's power.
Manta Rays!
David and I have continued to dive almost every weekend and we have now earned our Advanced Open Water Diving Certificates. I believe the highlight of our diving so far has been the Manta Ray night dive, which is rated as one of the ten best in the world. The dive location is just off shore near the airport at Garden Eel Cove. Large lights are set up on the ocean floor at a depth of about 40 feet and are turned on as twilight falls. Once it is fully dark, the divers enter the water and sit on the bottom in a circle around the lights, much like you'd sit around a campfire. While we each hold lights and shine them upward, snorkelers on the surface hold lights pointing downward to create a large column of light. As plankton rolls in response to the light, the Manta Rays begin to follow in search of a hearty plankton meal.
On the night of our dive, 11 giant mantas with wingspans up to 18 feet appeared and began to swoop over our heads with their mouths wide open. It was an incredibly beautiful ballet and a surreal experience. After observing the mantas for an extended period, we swam off to look for eels and other marine life that prefer the nighttime environment to hunt. It was fascinating to watch their behavior. When it was time to return to the boat, we surfaced to a dark sky spread thick with brilliant stars and the Milky Way blazing its trail across the sky. The experience was one of those magical moments in life that I am very glad to have experienced.
We did not take pictures on our night dive, but David took these on an afternoon dive earlier this week when we were visited by another Manta Ray cruising by. This one had been injured by fishing line about a month ago, but seems to be doing well now. Note the notch in the Manta's right "wing", or pectoral fin, and the left sided damage to the horn. Mantas are very gentle creatures, in spite of their size, which can range up to a 25 feet wingspan.
Aloha From Kona on August 25th,
Summer is almost over; the kids are all back in school and the tourist season has reached its slowest point of the year. Whereas on the Mainland, we dreaded the coming of yet another drab, gray winter, we find here that we look forward to the change of seasons. Each has its own charms and there is always something to eagerly anticipate. At the moment, we are looking forward to our first coffee picking and a new batch of our own fresh Kona coffee. It is lovely to wake up to a freshly brewed pot each morning and sip it as we gaze out over the rows of coffee trees to the ocean below. Then it is off to work and another busy day, but that morning interlude provides perspective and reminds us of the joys of living in such a beautiful place.
Big Island Real Estate Market News
The real estate market here in West Hawaii has slowed over the last several months, just as it has in most other areas. We have a larger number of homes remaining on the market for longer periods, and the surefire double digit percentage increases in home values is a thing of the past. Research shows that while the volume of sales is down significantly in the North Kona district for 2006 as compared with 2005 (24.15% for residential, 21.88% for vacant land, and 41.21% for condos), the median sales prices have actually increased somewhat for residential properties and condos, and significantly for vacant land. (6.18% for homes, 13.33% for condos, and 35.04% for vacant land)
How does this translate for Buyers? It is an opportune time to look for values in the market as Sellers are willing to negotiate more favorable contracts in order to be competitive and the interest rates are still relatively low. Mortgage brokers are also working to put together attractive packages for buyers. If you are thinking about investing in the Hawaii market, give me a call to discuss your needs and I will be happy to answer your questions.
Jacks Diving Locker
The old dog is learning new tricks! The old dog being me, and the new trick being scuba diving. We have finally taken the plunge, both figuratively and literally to earn our PADI Open Water Scuba certification this summer through Jack's Diving Locker, one of the preeminent dive shops in the world. It was a little (a lot) scary at first to jump in and feel the water close over my head. I do enjoy breathing and tend to get agitated when I feel I can't get enough air, even on dry land, so I immediately surfaced with a wild look on my face. But my instructor was very patient and the next time down pulled out his slate and began to play Tic-Tac-Toe with me in order to help me relax. He even let me win, and by the end of the game I felt better. Still, it took a couple more pool sessions for me to feel okay with jumping in the water with so much weight on my back that my knees buckle.
Then it was off to the ocean for the real thing. Again, it took a few minutes of sitting on the bottom 18 feet down to calm down and remember to breathe slowly. It didn't help that I had watched "Shark Week" just a few days before! That urge to surface was hard to deny, but I did it!! After everyone was comfortable, we set off on our first open water swim guided along by our instructor. It was fascinating. The underwater world is absolutely beautiful, and I found as we swam along that I was very comfortable and it didn't matter whether we were at 10 feet or 45 feet. Once you are down there, things quiet down and you feel the excitement of seeing a new world. On our second dive we spotted a large sea turtle taking a Sunday siesta on the sandy bottom as well as numerous colorful fish and various types of coral. The third and fourth dives were boat dives, and for those we visited Manta Ray Bay, just outside Honokohau Harbor's entrance, and Garden Eel Cove, just off the coast near the airport. We saw several varieties of eels, including Garden Eels, which live in the sand at about a 60 foot depth, and two large Yellow Margin Eels. We also saw the rare Harlequin Shrimp in the only spot they are known to exist around the island. No sharks put in an appearance, but I am told they occasionally do and that is a "highlight" of diving. Right now, I am very content to see nice little yellow fish...
For more information on recreational diving here in the Kona area, please visit the website for Jack's diving Locker at:
http://www.jacksdivinglocker.com/welcome.htm
Aloha From Kona on March 31st,
The last year has been full of bittersweet moments for many of us. Our family has certainly had its share of those as well. We lost my dad in December, but found that we will be gaining a new daughter-in-law this coming November. Life changes for each of us and allows us to reflect and choose new paths and new adventures while remembering the old with joy and tears. After Daddy died, my mother, who hadn't flown in 50 years, came home with me and is discovering the beauty of Hawaii and its healing power. She loves Buns in the Sun's sandwiches and is Fabric Warehouse's best customer, I believe. Teshima's is her favorite breakfast spot and she loves Costco!! We introduced her to the whales and she even ventured forth in a boat to see them up close. Wonders never cease!
My sister and my mom on the whale watch. My sister is being bad! Poor Mama has no idea she's developed antennae!
Big Island Real Estate Market News
The real estate market here in West Hawaii has undergone a definite change since the fall. We are seeing a growing number of homes remaining on the market for longer periods. Buyers are able to negotiate more favorable agreements with Sellers, and Sellers are having to look more realistically at their prices and their needs. They are often discovering that they have more flexibility in their pricing than they first thought. In a market that has been dominated by Sellers in the past few years, this is a refreshing change for Buyers.
How does this translate into pricing? Well, we are not seeing a big change overall in the selling prices, just a leveling. No more double digit appreciation. We believe that this will continue to be the case for the near future. Prices have leveled off, the market is more balanced and, depending on Seller motivation, contracts are becoming much more favorable to the Buyer.
Big Island Weather
For those of you who believe that the weather in Hawaii never changes, I beg to differ! The last few weeks have been dominated by a persistent weather pattern that has brought wind, rain, hail, and snow to the islands. While the Big Island has not borne the brunt of these storms, we have been cloudy and soggy and cool. Kauai and Oahu have suffered large amounts of damage from flooding. The storms have cleared the air, however, so between storms we have had a few brilliantly clear days with the other islands very visible from the Kohala Coast. That is a treat for us!
Big Island Development
There are several new developments that have sprung up in the last year. Lokahi Makai is well along with the first phases sold out and homes occupied by happy owners. This development is an area of single family homes just south of Kona Palisades on the lower part of Kaiminani Drive. They are all in the 1200 to 1600 square foot range and have many energy efficient features. Some have ocean views and all have steel construction. They are currently selling in the 600's, with a few listed at 700+.
The next phase of Kona Vistas is now opening up. Infrastructure for the area is well underway and lot sales have begun. The lots are starting at 395K for 15,000 square foot properties with tremendous ocean views and rock retaining walls. With the completion of the current phase and as the last phase is released, Lako, the long awaited connector between the Queen K and the upper reaches of Hualalai Road may actually open!
Na Hale O Keauhou, a condominium complex of 2 and 3 bedroom units, each with its own 1 car garage, is in the final states of completion on Alii Drive just makai of the Keauhou Shopping Center. These units have nice ocean views and are selling in the 800-995K range, depending on size and furnishings. Vacation rentals of no less than 7 nights are allowed at this gated complex, which includes a lovely pool area, BBQ facilities, a gathering room, and a well-equipped work out room.
Hualalai Village, another condominium complex that has been in the works for the next phase for a while is now being released for sales. Units come in 6 different floor plans of from 1-4 bedrooms. The complex is conveniently located on Hualalai Road east of the Nani Kailua intersection. Units have nice ocean views overlooking Kailua to the bay. For more information on these units, visit http://www.hualalaivillage.net/ or call me at (808) 987-7273.
Alii Heights Mauka is an area of upscale homes that has been built mauka of Alii Heights. These homes all have nicely designed floor plans that offer versatility for a family or options for home offices and the like for others. They all have at least a 15K square foot lot and a 3 car garage. Many have stunning ocean views. These are just now coming up for resale as construction is completed. This subdivision features sidewalks and a nicely landscaped feel without the Homeowner's Association dues that often accompany homes of this caliber.
For more information on these areas, or any others between Kona Paradise and North Kohala, please drop me a note or simply give me a call at (808) 987-7273. I'll be happy to send you further information.
Aloha From Kona on September 8th,
After an eventful summer, we are settling down to the "fall" routine here in Kona. The kids are back in school, the summer tourists have departed and the Ironman participants and their support teams are beginning to arrive and fill the streets as they train for next month's event. Coffee cherry is being picked, and signs have sprung up advertising the current rate that processors are paying for cherry.
The Kuakini Highway project between Hualalai and Palani is being readied for the initial paving, much to everyone's joy. The traffic gridlock will be eased and we will once again be able to venture out for lunch instead of cowering meekly in our offices in order to avoid the congestion.
Big Island Real Estate Market News
We are continuing to experience a slowing of the price increases we have experienced over the last 3 years, but the market remains very active. As prices in and around Kona have reached averages above the 600K mark, greater interest in the outlying subdivisions such as Waikoloa Village, Kona Paradise, Milolii, and Hawaiian Ocean View Estates is spurring price increases in those areas.
We do not foresee interest in obtaining Big Island property for investment or retirement abating in the near future. We truly have something very special here.
Summer Pictures - Time Marches On
With our family gathered for the first time in over a year, we celebrated our daughter's graduation and met our oldest son's sweetie. Now all are back to their lives and our daughter has officially left the nest... a very special summer that was full of endings and new beginnings.
Our Boys at the Green Sand Beach
Our Happy Graduate
"Bruce" the Baby Shark - Not a Member of the Family!
Aloha From Kona on May 20th,
Big Island Real Estate Market News
Home sales on the Big Island have slowed a bit from last year's pace, but home prices have continued to climb, albeit more slowly than in recent months. In a comparison of units sold from April 2004 to April 2005, we have seen a decrease of 8.62% in the number of single family homes sold, but an increase of 7.81% in the average selling price for the North Kona district. Condo sales for the same period also fell by 9.84%,but average prices increased by a huge 60.17% in North Kona.
Aloha From Kona on March 11th,
Aloha and Happy Spring to all, and to my friends "Down Under", Happy Fall! We are starting to notice warmer days here in Kona, and the plumeria is once again beginning to bloom, creating that wonderful scent in the air.
Last weekend we had the opportunity to take a Whale Watching cruise with the Kona Outdoor Circle. It was a perfect day to be out on the water! Even though we did not see a plethora of whales, we did see a few, and the cruise south from the Kona Pier with the gentle music of John Keawe in the background was very relaxing. As the coastal scenery drifted by and we sipped our Mai Tais, we couldn't help thinking how wonderful it is to be able to spend a weekend in just such a fashion without leaving home. There are always opportunities for entertainment here, and while the cruise required a donation of $60.00 apiece, many activities are free. Just watch the paper or check the KonaWeb Activities page for ideas. You'll be pleased with the range of choices and hard pressed to fit everything you want to do into a mere weekend.
Our other social activity last week was to attend the Aloha Theatre's performance of "The Sound of Music". One of our friends had a part as a nun and her son played a soldier, so our group enjoyed dinner at the Aloha Angel Cafe and then attended the show. It was excellent! We are always amazed by the talent of the actors here in Kona. Many have been on stage in other areas of the world, and some, like our friend, are brand new to acting. The children in this production ranged in age from 7 on up and were terrific. I highly recommend the Aloha Theatre for an enjoyable evening out.
Aloha From Kona on January 28th,
Hauoli Makahiki Hou to everyone. I hope that your holidays have been wonderful and that the new year will be filled with peace, happiness and good health for each of you.
Big Island Real Estate Market News
The winter season is now in full swing here in Kona and the real estate market is once again heating up after the typically slower months of November and December. We are seeing lots of new listings and many sales.
Prices continue to march upward here in West Hawaii, particularly in the under $1,000,000 brackets. The average 2/2 in Alii Lani is now listed for somewhere near 350K and the patio homes of the Pines are selling in the low to mid 400's. Palisades homes are appearing on the market in the 500's on up, as are homes in Komohana, Kilohana, Keauhou View Estates, Kailua View, and Kona Heights. Kona Vistas, Sunset, and Alii Heights listings are appearing in the 700's and up. This has made it difficult for first time homebuyers to enter the market in and around Kona. The good news is that there are still some great interest rates and many innovative programs to help first-timers get started. Others who have been in the market have seen their equity jump, making this an excellent time to cash in on that and move up to the next level. Whether you are interested in buying for selling, give me a call to see how I can help you move in the direction you wish. I would love to work with you to make your dreams come true.
Jackie Rey's Ohana Bistro
It is my pleasure to announce the opening of Jackie Rey's Ohana Bistro in the Pottery Terrace Center. This great restaurant offers an excellent selection of fresh seafood, tasty sandwiches, steaks, and pupus. The menu features an interesting array of salads that are guaranteed to tempt the taste buds.
The restaurant's casual style and open air dining provide that comfortable island atmosphere. Jackie Rey's is open for lunch Monday through Friday and dinner Monday through Saturday. Saturday night is Latin music night after nine with Salsa dancing and instruction. It's a fun place where you'll feel right at home with good friends, good food, and great drinks. Give it a try and tell Paul you heard about it here!
Images from Ironman
They're Off!
Kokua Workers keep a watchful eye on the swimmers as they spread out.
The leader amazes us with his time.
The finish line. Only 112 miles on the bike and a 26 mile run left! I must say I enjoyed watching from the water while enjoying my orange juice and muffins. Not a bad way to spend a Saturday!
Aloha From Kona on October 2nd,
Big Island Real Estate Market News
September is traditionally our slowest month in real estate; the families have returned home for the school year and our winter visitors have not yet grown tired of the colder climates. October heats up again with the return of visitors to watch or participate in the Ironman.
Interest rates have remained low in spite of the recent rate hikes, and prices, while continuing to rise, are not increasing as rapidly as we saw in the last six months. There are some very nice homes available in the range from 400K to 900K. We are still seeing homes at the lower end of that range snapped up in record time and often receiving multiple offers.
Homes in the popular Palisades neighborhood are now running from the high 400's to the mid 600's. Waikoloa Village is following along with homes from the high 300's to the high 600's. Kahakai homes are now running from the 600's on up to the mid 800's. Kona Vistas, Komohana, and Kilohana prices average from the 700's to around 900K. Other neighborhoods have jumped as well. If you were lucky enough to have purchased a home at least a year ago, you have seen a very substantial growth in your equity.
Beach Sixty-Nine
This great beach is located off of mile marker 69 of the Queen K as it runs up the Kohala Coast. The charm lies in its undeveloped and natural appearance. Scattered groves of trees give welcome shade and there is plenty of white sand for sunning. The trees promote a feeling of privacy, allowing one to feel they have found their own little bit of paradise even when there are many other beachgoers present. The ocean is a beautiful turquoise with a sandy bottom. There are a few colorful fish near the rocks, but snorkeling was limited in the cove where we spent a couple of afternoons recently.
This is the only beach where dogs are allowed, so we took our two golden retrievers, Griffey and Ruby, to visit. It was their first time to see the ocean up close and personal. For Ruby, it was a bit too personal. She got her paws wet, but was unwilling to venture any farther out, preferring to sit in the shade on her towel and sample the picnic lunch. Griffey was more interested in adventure and charged right into the waves. Of course, he is never one to miss a picnic, so both dogs ended up spending more time relaxing on the sand than in the water. Another dog was actually surfing on a boogie board and a beautiful golden retriever was showing our dogs how it's done when he repeatedly swam a good distance from shore to retrieve his special water toy.
Now when we are ready to go somewhere, both dogs are most anxious to join us in hope that another beach adventure (and picnic) are planned.
Griffey smiling at the beach.
Beach Sixty-Nine
Aloha From Kona on August 12th,
Big Island Real Estate Market News
West Hawaii home prices continue the upward march this summer with no sign of slowing. Homes in Palisades have advanced to the mid to high 400's on average, with increasingly frequent forays into the 500's. Waikoloa Village has made similar gains. Condo prices in Alii Lani are now all above 300K and new units appear almost daily on the MLS as owners decide to cash in on their equity.
The 17th Fairway Villas of Waikoloa have recently appeared on the MLS. The Villas are a group of 27 single family homes on a CPR'd parcel of just over 5 acres. The homes are running in the mid 400 range and feature 3 bedrooms, two baths, and 1258 square feet of living space. Each unit boasts fairway & mountain views and feature an enclosed 2-car garage, large covered lanai, full insulation , stucco exterior, stainless steel appliances, ceramic tile in bathrooms, kitchen & utility room, along with wall-to-wall carpeting throughout. Owners will enjoy privileges of membership in the Waikoloa Village Association, which include access to tennis, swimming in the fully heated over-sized pool, as well as use of the Golf course at special resident rates.
CPR stands for "Condominium Property Regime" and is one way to subdivide a larger parcel of land with less expense than going through a rezoning. The homes built on the land will share certain common elements such as the greenbelts, roads, and walkways through the area. The owners pay the Association a fee for the maintenance of the common areas. They may or may not have their own small yard area which they maintain themselves. Some CPR'd properties may share a driveway, others simply share the private roadway within the parcel, but little else.
When purchasing this type of property, be sure to have your agent identify each of the common elements and what your responsibility will be in the maintenance of these elements. If you have a yard, can you put in a pool? A fence? Are pets allowed in the yard? Do you maintain the yard? What rights do you have with regard to addressing your concerns about any of the common elements? It is important to have these type of answers before you decide to move ahead with a purchase.
CPR property is just another type of ownership here in Hawaii. For those of you looking for second and vacation homes, it can be an attractive way to avoid caring for a lawn, without giving up the lawn. As with all types of ownership, there are positive and negative aspects, so investigate, decide what is right for you, then enjoy!
Tornado near Waimea
While driving from Waimea to Hapuna we happened to look toward the south and, to our astonishment, saw a very small tornado dipping and twisting along. We pulled over and I was able to get this shot of it before it dissipated. Several other funnels formed, but did not drop down. Having lived in Oklahoma City for eleven years, we know that tornados do usually look a bit more sinister than this, but we were told that tornados never occur here, so I beg to differ.
July 4th Festivities
Many of the resorts hosted special events over the Fourth of July holiday. Some had their chefs prepare a special BBQ on the beach, others offered events such as the release of the baby turtles from a protected habitat into the ocean, charity duck races, music festivals, and fireworks. We did not make it up to the resorts this year, but enjoyed pizza at the Kona Brew Pub, then strolled down to the pier to watch the fireworks here in town. We were very pleased and surprised by the quality of the show. It was a beautiful night and the fireworks over the ocean lent a magical air to the evening. I particularly enjoyed the "Palms".
Aloha From Kona on June 24th,
Big Island Real Estate Market News
Home prices in and around Kona are continuing to climb. As of this week, there are only a handful of homes listed for under 400K. Condo prices have risen dramatically as well, so be prepared for sticker shock if you haven't checked the prices in a few months. Curiously, this has not seemed to slow the market down as buyers are still making full price offers and sellers are receiving multiple offers on their homes. For this reason, it is a great time to list your home and cash in on the increased equity if you own in the West Hawaii area. Call me for a no-obligation comparative market analysis of your home. You may be pleasantly surprised to discover what your home could be worth in today's market.
Vacation Rentals
For those of you planning an escape to Hawaii in the future, please keep in mind that Coldwell Banker Aloha Properties has a nice selection of rental condos and homes to make your stay in paradise relaxing and memorable. We have just added four new properties to our list and are continuing to expand. For more information, check out the Vacation Rental page on this site or give me a call. We are offering many special deals for the summer and early fall.
Memorial Day
Since we have lived in Kona, our family's Memorial Day tradition has been to take a lei to the memorial at the site of Camp Tarawa, located just outside Waimea. Camp Tarawa was established in December of 1943 on 441 acres of the Parker Ranch when Second Division Marines who survived the bloody Battle of Tarawa in the Gilbert Islands arrived. Parker Ranch had leased 40,000 acres of property to the U.S. Government for $1.00 per year for the establishment of a Marine Corps training facility. In honor of the returning Marines and those who fought but did not return, the camp was named Camp Tarawa.
Second Division marines trained relentlessly, practicing amphibious landings on the beaches and using the terrain of the islands to hone invasion techniques. The Second Division Marines shipped out in the spring of 1944 for Saipan, Tinian, and Okinawa.
The Fifth Marine Division, including my dad, arrived in the fall of 1944 and trained until late December of that year. They left Camp Tarawa for Iwo Jima. In spite of the intense training, the Battle of Iwo Jima, which was expected to last 3 days, dragged on for 36 days. No one had anticipated the kind of fortifications in place on Iwo Jima that had to be overcome. More Marines died on Iwo Jima than in any other battle in the Pacific Theater.
Survivors of Iwo Jima returned to Camp Tarawa and were welcomed with open arms by the people of Waimea. The war was not over and training continued. The target this time was Japan itself. Instead, the war ended and the Fifth Marine Division was sent to occupy rather than invade Japan.
With the war over, Marines returned home and the camp was dismantled in 1946. All that remains to mark the spot where heroes walked is a small memorial and a wall that contains a poignant narrative of the story of Camp Tarawa and the men who trained there. Today's first picture is a shot of the main entrance to the camp as it appears today. Only the surrounding hills and trees remain, but there is also the whisper of the past in the breeze if you listen carefully, and it never fails to move me to tears.
I had the unique opportunity to travel to Iwo Jima in March of 2001 on an anniversary tour hosted by the Marine Corps with Navy support. It was fascinating to see the beaches and fortifications. I had heard about Iwo Jima since I was little, so it meant a great deal to me to actually stand on the beach and look up at Mount Suribachi. It is peaceful there now, which is as it should be.
Happy Memorial Day and thank you to all of our Veterans. Daddy, I'm proud of you.
Aloha From Kona on May 17th,
Big Island Real Estate Market News
Waikoloa Village has recently shown significant resale activity in both residential and land listings. Lots have jumped from an average of around 100K at this time last year to recent sales of 149K and up. Homes have shown significant increases as well, with the average home price for one year ago for a 3/2 in the neighborhood of 325K and today's average in the mid to high 400's.
Waikoloa Village is a nice family neighborhood with a strong neighborhood association. It is located about 45 minutes north of Kailua-Kona, near the resorts of the Kohala coast. There is a neighborhood elementary school, and students go on to attend Kealakehe Intermediate and High School here in Kona. Bus service is provided. Waikoloa Village boasts a shopping center, post office, restaurants, and of course, the golf course and swimming pool. For additional information on this neighborhood, just give me a call; maybe it's right for you!
Coffee Farming
As new owners of a small coffee farm, my husband and I have been eagerly awaiting the first harvest. Well, this past weekend we were able to pick the first 8.5 pounds of ripe cherry. This tiny amount is just the very beginning of the harvest. We couldn't bear to let it go to waste, so we picked it ourselves and separated the cherry from the beans manually. Now the beans are drying in the sun and we will remove the silvery outer skin when they are dry. After that, we can roast our first batch of coffee! We have been told that it will be about 3 more weeks before the real picking begins. It will be interesting to see how it all turns out.
After each rain, the trees burst forth in a profusion of snowy white blossoms. The coffee tree is related to the gardenia with its dark green, shiny leaves and fragrant white flowers.
As the cherry ripens, it changes from dark green to red. It is common to have all stages, from flower to ripe red cherry, present at the same time.
This is one of the first ripe cherries. In the two weeks since this was taken, many more have started to ripen.
Aloha from Kona on April 23rd,
Big Island Real Estate Market News
Condo sales prices have continued to rise over the last quarter to unprecedented highs here in Kona, but that has not yet caused a slowdown in buying. In a study released last week, the Big Island showed a 77% increase in condo prices over the past year, bringing them more into line with the other islands.
Vacation Rentals
I am pleased to announce that I am now working with Wayne Twitchell here at Coldwell Banker to manage a select group of vacation rental properties. Wayne has worked in property management for quite some time and we feel that we can offer our clients excellent value and service. For information on the properties currently available, see my new vacation rental page. To book your next vacation in paradise, just give me a call. We will be adding new properties to the portfolio in the next couple of months, so be sure to check back frequently.
In becoming involved with the management of vacation rentals, I can now offer my real estate clients greater insight into condo ownership opportunities as well as a more personalized alternative to the typical management company. Call me to find out how you might benefit from placing your condo or home in our program!
This Month's Pictures
This is a scene from the path along the shore that leads from Kukio Beach to the Four Seasons Resort. It meanders around the edge of the golf course toward the hotel, then on to North Beach. Along the way is a great little beachfront grill that is open for lunch, drinks, and pupus.
Another scene from the same path. Signs along the way point out nature's interesting features.
Aloha from Kona on March 22nd,
Big Island Real Estate Market News
The market in and around Kona continues to be fast paced and is setting new price records in many neighborhoods. Sales of single family homes up to 600K and vacant land are particularly brisk as the winter tourist season begins to wind down. Buyers are often ready, willing and able to buy, but cannot find the right property due to decreased inventory and increasing list prices. This is frustrating to both the buyers and their agents. The lower interest rates have just fueled the fire; many buyers who put off buying last fall are now eager to proceed. We are doing our best to help them find properties that meet their needs and desires!
Winter Storms!
Hawaii has been the target of several strong storm systems over the past month. One strong system spawned winds that took the roofs off of several homes in South Kona and carved a swath of destruction through mac nut orchards and yards. Many trees were uprooted or sheared off and smaller farm buildings were destroyed. The National Weather Service has been investigating the damage to determine if it was caused by a small tornado, or simply high winds. Heavy rainfall along with power outages and flash flooding has been a weekly occurrence in some areas of the Big Island over the last few weeks along with high surf. It has certainly been an "interesting" weather pattern for the winter!
Having just returned from a sojourn in Boston, I can say without hesitation that our winter weather is much more pleasant than the snow and cold winds of New England. It snowed twice while we were there, but then that just made the chowder taste that much better!! Boston is a great town, but it was very nice to come back home, storms and all.
Whales
The annual migration of the humpback whales from Alaskan waters to the warm Hawaiian coastal waters has been somewhat disappointing this year. Many of us have noticed that spotting the whales from shore has been more difficult and the overall numbers seem to be down from the record numbers seen in recent years. One source explained that this year more of the whales favored the Baja coast than had done so in the past. It will be interesting to see what happens next year.
I was able to enjoy a spectacular show of breaching whales while at the public access area of North Beach at the Four Seasons Resort in late February. It was a beautiful day and the whales seemed to be enjoying it as much with their joyful play as the humans on shore. Watching whales is one of the special pleasures of living in Kona. I am always sad to see them depart in April, but perhaps the transient nature of their presence makes them that much more of a natural treasure.
Aloha from Kona on January 9th,
Big Island Real Estate Market News
Sales of single family residential homes increased 29% in Kona in 2003, and sales of condos increased a whopping 45%! It is definitely a seller's market, with inventory very limited. Many listings receive multiple offers and often sell for more than the list price. No vacant land is currently available in or near Kona for under 200K. Property can still be purchased north or south of Kona for significantly less, which has increased traffic to and from Kona in the mornings and evenings.
Mayor Harry Kim addressed a large turnout of local residents at a meeting this week to discuss the increasing traffic problem throughout West Hawaii and the County's apparent slow response to a solution. He detailed the plans that are currently ready for implementation and assured West Hawaii residents that "help is on the way". Several new road projects are set to begin within the next 6 months, with an additional number of projects on the calendar for next year. Any relief from our current traffic situation will be most welcome. One project of note, the Lako Street extension to Hualalai Road, which as been in the works for a number of years, is scheduled to begin this month. This will increase traffic through the Kona Vistas and Iolani subdivisions and may affect property values within those neighborhoods.
Big Waves
Winter is the time when we get higher surf due to storms in the Pacific. A high surf advisory has been issued for the islands this weekend, and surfers are gearing up to do battle with the big waves. We took some photos on the north shore during an earlier weekend of high surf and I have included one here for your enjoyment. Maui is faintly visible in the background.
Aloha from Kona on December 29th,
Hauoli Makahiki Hou to everyone. I hope that your holidays have been wonderful and that the new year will be filled with peace, happiness and good health for each of you.
Mauna Kea and Mauna Loa are now snow capped after a winter storm left drifts up to three feet on Mauna Kea yesterday. Wind chill factors at the summits were down to a brisk 15 degrees below zero! Meanwhile, down near the ocean, temperatures were in the mid-70 range. Roads to the summits were closed and although we did receive some heavy rain in Kona, it didn't stop the surfers. Last evening brought a spectacular sunset and views from my lanai of four of the other Hawaiian Islands. Maui is often visible, but we were also treated to views of West Maui, Molokai, Kahoolawe, and Lanai. I stood outside in light drizzle and took multiple photos. It was an unusual and fascinating show of nature's beauty.
And to think that we had planned to go to a movie, but decided at the last minute that we didn't feel like it ...we would have missed the real show. Serendipity!
Aloha from Kona on November 26th,
The past month has passed in a whirl of activities. The Kona Coffee Cultural Festival was held during the second week of November. The week began with the traditional Miss Kona Coffee Pageant, continued with parades and coffee tasting booths in Holualoa, contests for coffee pickers, recipe contests, seminars on coffee growing and processing, and culminated in the presentation of the awards for the Cupping Contest.
Since we now have our own small coffee farm, we were very interested in the details of growing and production. Everyone was very friendly and willing to share advice and helpful hints. We are anxious to see how our coffee trees do over the next critical year of growth. Generally it takes about two years for the trees to begin serious production of coffee cherry. We have approximately 2 irrigated acres planted in year old trees, so next year we will begin to see some production if all goes as planned! We haven't yet broken the news to our son that he will be working in the coffee while he is here over Christmas break. I'm certain that he will be most pleasantly surprised... who needs the gym when you have a farm???
Big Island Real Estate Market News
Homes in the under 500K range continue to be listed and sold within very short periods of time, often within the same week. Neighborhoods such as Palisades, Keauhou View Estates, Kona Heights, and Kailua View are showing brisk sales and home prices in those areas have marched steadily upward. This is a great time for homeowners in those subdivisions to cash in on the market trend and list their homes. Buyers who are looking at purchasing a home in this price range are encouraged to be ready to make an offer if they find what they are looking for because it may disappear within a day or two.
Homes in the 500K to 1.3M range are also showing gains in the number of sales reported. Many Baby Boomers are looking for their retirement homes now in order to have something ready when they do retire. The Big Island is a popular vacation destination for these buyers, so we are seeing an increase in sales of second and retirement homes in the higher price ranges.
Aloha from Kona on October 17th,
The Ironman has come to town and the excitement is palpable in downtown Kona this afternoon. I attended an event this morning up in Waikoloa and passed many athletes on the road for their final biking practice. Tonight is the traditional carb loading party, an event that I think I might actually be good at, but alas, I am supposed to be on the Atkins plan. Rats! Camera crews have arrived and are setting up equipment at key points and thatched roof aid stations have sprouted all along the highway to Hawi on the Kohala Coast.
For many Kona residents the entire weekend will be given over to some facet of the event. My family is working at the finish line to check the athletes in and collect their microchips. Others are positioned at the aid stations along the route, taking pictures, working the medical tent, handing out water, and at numerous other sites. The roads will be closed and all other business almost ceases to exist for the weekend. As the race winds down, the partying begins and there is dancing down by the finish line and the pier. Families of the athletes join their loved ones as they cross the finish line and there are tears and smiles all around. It is fun to be a part of it, even for a few hours.
Aloha from Kona on October 9th,
It's October and Kona is gearing up for the annual Ironman Triathlon, which will be held on Saturday, October 18th. The Ironman attracts competitors from all over the world, and they have been arriving here since early September to complete their training. The hotels and condos are full and the streets alive with visitors in the evening. In addition, the cruise ships have returned from Alaskan waters, so Kona is entering another high tourist season after the short lull of September.
The real estate market in Kona remains strong. Prices have not fallen with the recent fluctuations in interest, but have continued to rise in the range to 800K. Homes over 800 have remained relatively stable for some months now, although many of the homes in the upper ranges are now being sold.
New subdivisions are popping up in several places and construction crews are working at a frantic pace to meet demand. Pualani, the Schuyler development just mauka of the Queen K, is well along on construction of Phase I. Homes there are selling in the 300-400 range. Stanford Carr's Kahakai development has also made good progress and the lots have been sold out. Kahakai homes are selling in the 500 to 700 range. Alii Heights is looking more and more complete and the landscaping on the homes is terrific. I was told that it is being done by a firm called "Can You Dig It?" I love it!! There are four model homes there that are each fully furnished and decorated, which is always fun for us to inspect. Homes are listed from the upper 400's to the upper 500's. Makalei Estates has only a couple of lots available. These are 3 acre lots at the 900 to 1800 foot elevation with expansive ocean views. These lots offer the possibility of creating your own coffee farm if you so choose. Homes in the neighborhood start at 850K.
Resale of homes in established neighborhoods continues at a brisk pace. Inventory is down and homes under 600 do not remain on the market very long. Buyers should be fully prepared to make an offer if they find what they are looking for or risk disappointment.
Kona is definitely growing and we are slowly adding the services to accommodate continuing future growth. Lowes is looking like Lowes now with the sign in place and speculation on what will be built nearby. I have it on good authority that Kaiser will be building a new clinic up there in the near future.
Well, time to get back to work here. I hope that wherever you are, you will have a great day! Remember, if the islands are calling you, be sure to call me! I would love to help you find your place in paradise.
Aloha,
Carole Kwiat, RS
Aloha from Kona on August 27th,
I would like to apologize for the delay in updating this page over the summer. Unexpected family illness kept me on the mainland for longer than I anticipated, so we will have to make up for lost time.
Big Island Real Estate Market News
The market in Kona remains hot in spite of the recent increases in mortgage rates. If anything, it has fueled the fire! I think that many are deciding to take the plunge into Hawaiian property ownership before the rates increase even further. This has lent a "Gold Rush Fever" atmosphere to our market. In spite of this, many of the upper end homes are still moving slowly and, with price decreases, are looking increasingly attractive.
Aloha Festival
The annual Aloha Festival runs this year from August 23rd through September 28th. The festival was founded in 1947 and is celebrated statewide "to preserve and perpetuate Hawaiian culture and to celebrate Hawaii's diverse customs and traditions, and the Aloha Spirit."
The first weekend here on the Big Island featured the traditional investiture of the Royal Court with a Pikai, or royal bathing, and a crowning ritual at the rim of Halema'uma'u Caldera. Subsequent weekends will feature the appearance of the court at locations around the island as part of the celebration of specific facets of the Hawaiian culture.
Waikoloa Beach Resort is hosting a series of musical events during the Aloha Festival called "Return to Paradise', which included the 11th annual Hawaiian Slack Key Guitar Festival last weekend and will conclude on September 28th with Roy Sakuma's Ukulele Festival. For a complete schedule of events, visit www.RTParadise.com
Various events around the Big Island will include craft fairs, hula fests, the Waimea Paniolo Parade and Festival, the Sam Choy Poke Festival and Contest, golf tournaments, and many demonstrations of various aspects Hawaiian culture.
The entire festival provides a wonderful opportunity for all of us to learn more about Hawaii and its rich history while fostering a sense of pride and appreciation for Hawaiian heritage.
Aloha from Kona on June 17th,
Big Island Real Estate Market News
The news from the Big Island this spring has been the 40.4% increase in the median price of a single family residence over the last year to 274K. This median price reflects the entire island; prices in and around Kona are considerably higher. On Kauai, the median price currently stands at 412K, so the Big Island is still a very desirable choice. This is an excellent time for those who have held on to property on the Big Island to put it on the market and reap the rewards! Inventory is very limited, so it is definitely a seller's market.
Great Beaches
For uncrowded white sand beaches and sparkling turquoise water, you can't beat Makalawena and Kau Bay beaches! Getting down to the beaches is half the fun, and you must have a high clearance four wheel drive vehicle to navigate the lava fields that surround them. Even then, be sure to buckle your seatbelt and hang on; it's a jarring ride, to say the least! Once you reach the "parking area", you only have a short hike in to the beach area. Even so, you probably won't want to carry too much heavy stuff in, and some people have been known to travel very lightly, as in sans suits. On the weekends, it is a family beach.
Makalawena is actually three secluded crescents of soft white sand, each more spectacular than the last. Boogie boarding is great here much of the year, and snorkeling is good at times. There is a protected cove at the first beach that is good for keiki, the other beaches are dangerous for small children. Makalawena is located right off of the ancient Hawaiian trail, so beware of the Night Marchers! (You will want to drive out while it's still light enough to pick your way over the lava and back to civilization, anyway.)
Makalawena is accessed from the Queen K between the 88 and 89 mile markers. You will have to watch closely for the "road". It can also be accessed from the north end of the State Park. Simply park at the first parking area and follow the lava path for about 20 minutes to reach the third crescent of Makalawena.
Kau Bay is just north of Makalawena and involves the same kind of rough trek over the lava fields. Rumor has it that the road is actually scheduled for surfacing sometime in the near future.
Aloha from Kona on May 21,
Big Island Real Estate News
The market in and around Kona continues to very active, especially in the 200K -450K range for both condominiums and single family residential homes. Many homes have been sold the very day they appeared on the multiple listing service, which has been the source of disappointment for many buyers. They haven't even had a chance to see it before it was sold! The homes in the upper ranges are not moving as quickly. but this may change as owners trade up to take advantage of the prices increases in the smaller homes.
Lahaina Noon
Last Sunday at 12:19 pm in Kona was the first of the two "Lahaina Noons" that we experience here in the tropics. The Lahaina Noon is the time at which the sun is directly overhead. We have two of them each year as the sun moves north to the Tropic of Cancer, then heads back south to the Tropic of Capricorn. Our next Lahaina Noon on the Big Island will be in July. From now until then, the sun will be north of the island.
The current tilt of the earth also enables us to see the Southern Cross from the Big Island from April through June. The best vantage point for viewing is from the South Point area over to the volcanoes. It is often