Kailua-Kona, HI Real Estate News

By Rich Bosselmann-RS, Your Kona real estate connection.
(Koa Realty Inc.)
8 Things to Know Before Buying a Vacation Rental Condo in Kailua-Kona, HIKailua-Kona has become a very popular place for second home/ vacation rental condo purchases. The weather is perfect year round so there really isn't an off season. The right condo will have very high occupancy rates all year. Buyers should know a few things before starting their search. 1. On the Big island, condominiums rented for less than a 30 day period need to have an STVR (short term vacation rental) permit. The application can be found at the Hawaii County Planning Department web site .2. The condo has to have the proper zoning and CC&R's that do not restrict rentals for a period of less than 30 days.3. Location matters. The condo will have higher occupancy rates if it's in a location that offers ocean view...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Aloha, Lance Owens (RS) here with LUVA Real Estate bringing you our monthly sales report. Talk about some crazy numbers, let's start with......"Absorption Rate": The term absorption rate refers to a metric used in the real estate market to evaluate the rate at which available homes are sold in a specific market during a given time period. It is calculated by dividing the number of homes sold in the allotted time period by the total number of available homesWith that said, it is generally understood that anything under 15% is a buyers market, anything above 20% is a sellers market. Lets roll back a few years, and we are going to skip 2020. Back in 2018 our absorption rate was 14%, so it slightly favored buyers, FF to 2019 and it hovered around 20%, so it was slightly leaning towards bein...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
Aloha, Lance Owens (RS) bringing you the latest in Real Estate News, and I can tell you first hand, ITS NOT HAPPENING! In our local market (West Hawaii), SFH sales were up 63% over last October, but more important than that, 36% of them sold for cash (see below about walking away from equity) but lets go ahead and take a look at what the "Experts" are also saying: There seems to be some concern that the 2020 economic downturn will lead to another foreclosure crisis like the one we experienced after the housing crash a little over a decade ago. However, there’s one major difference this time: a robust forbearance program.During the housing crash of 2006-2008, many felt homeowners should be forced to pay their mortgages despite the economic hardships they were experiencing. There was no e...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
I keep hearing from buyers on the fence….. “Its 2005 all over again” or “this bubble is ready to BURST !"  even better "I'm waiting for the rush of foreclosures in 2021 …  Aloha, Lance Owens (RS) with LUVA Real Estate bringing you the latest in real estate news and I wanted to point out a few differences. Those of you that have been following my blog over my 16 year career know that I have been a full time Realtor here in Kailua-Kona Hawaii since 2004, the 2018 President of West Hawaii Realtor Association of Realtors , I currently serve on the Hawaii State Board of Realtors, and the 2020/21 RPAC Trustee for WHAR, so when I reference what happened in 05,06,07….. this is not something I read on the Internet, found in a book, or heard at the water cooler. I lived it, I worked it, and I ca...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
West Hawaii SFH sales show an increase of 41% over October 2018. Here is a surprise though, Condo sales are off by <11%> . WoW, that surprised me. Hold on, let me go look at 2017 numbers.......Im back, when comparing to 2017 numbers, we are down 2% , the reason I go back to 2017 is that 2018 had an "event" that brought property sales to screeching standstill, so I typically go back to 2017 for the second half of 2019 . Note though, with our "2108 event" dropping the number of sales, it had little effect on prices, so let's look at median priceHomes: up almost 13% month over month, year to date (YTD) is up 1.29%, when it comes to median price I prefer to use YTD which is $649,000Condos: Also up almost 13% for month over month, YTD is up just over 6%, so condo prices are holding strong, e...
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By Rich Bosselmann-RS, Your Kona real estate connection.
(Koa Realty Inc.)
 Kukio - Ultra Exclusive Residential CommunityHere is a list of currently active luxury homes and land available to purchase in Kukio , Hawaii - Big IslandCurrently Active Homes For Sale in Kukio, HILocated on the North Kona Coast, overlooking beautiful Kukio and Kua Bays, is the resort residential community of Kukio. Unique among all of the luxury Big Island resorts, Kukio amenities, including the private oceanfront Beach Club and two golf courses are for the exclusive use of its members and their guests.The Beach Club on Kukio Bay features a swimming pool, beach bar, private dining, open air and indoor spa, fitness center and grassy areas for events. This low density, ultra luxury resort exudes Hawaiian barefoot luxury at its finest. The recreation management team offers members local...
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By Rich Bosselmann-RS, Your Kona real estate connection.
(Koa Realty Inc.)
Buying a Vacation Home or Condominium in Kailua-Kona, Hawaii The vacation rental/ second home market in Kona Hawaii has really grown over the past decade. But recently, the rules have changed. The County of Hawaii is now requiring all vacation rental owners to register for a STVR Use Permit. Short term vacation rentals (30 days or less) are no longer allowed in residential neighborhoods unless the home is grandfathered in with a non conforming use permit. An exception to this rule in residential neighborhoods exists if the property is hosted by the owner or caretaker. So, a property with a home and a guest house, with a host living in one of the living spaces, would be exempt and allowed to rent for any length of time that the owner chooses, as long as the CC&R's, if any, allow it. Most...
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By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
While a large part of the island has seen double digit increases in the median price for vacant land sales, North Kona has seen a significant drop in price and the number of sales for 2019 over 2018. Some are blaming the high cost to build here now, others on the lack of availability of good, licensed contractors, and of course we have the aftermath of last years Volcano! Lets start out real quick with a reminder from last year, that West Hawaii real estate sales were the hardest hit when the the volcano was active, over 30% worse than the very area that the lava was flowing, interestingly enough, Puna and Kona are about <29%> drop in "closed" sales this year.Here is a quick breakdown on Island wide real estate sales. A little bit about the author Lance Owens (RS) LUVA Real Estate. Lanc...
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By Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you
(RE/MAX Gold)
Wondering about the differences between Alaska and Hawaiian Airlines in first class? Well, yesterday, I experienced my first Alaska Airlines flight from Sacramento to Kona in Hawaii, and chose First Class. Until recently, no airlines from Sacramento flew directly to Kona. We used to have to fly Hawaiian Airlines to Honolulu and hang out there for several hours to catch a 45-minute connecting flight to Kona. Which meant travel time from Sacramento to Kona was about 8 hours minimum. Well, not only does Alaska fly non-stop (direct), but it advertises its time at 5 hours, and we made the trip in 4 hours; blew my mind.However, its First Class service leaves much to be desired. Here are my observations in no particular order.The Trouble With First Class on Alaska Airlines vs Hawaiian Airlines...
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By Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you
(RE/MAX Gold)
When we bought our house in Hawaii, the former sellers rented back from us for 18 months. So, I got to know them fairly well. They also moved temporarily across the street one December just so I could stay in our house. Super nice people from Canada. The only people I know who are missionaries, reliant on donations and benefactors. This couple work together at University of Nations in Kona, a religious organization that presents specific curriculum to international students.And the wife grows orchids. She mentioned in passing one day that the best way to grow orchids in Hawaii is to take that potted plant you bought at Safeway or Wal-Mart and, after blooms die, throw it into a tree. Not sure what she meant, I placed a few under our mango tree, but they got overwatered and died. However,...
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By Rob Spinosa, SVP of Mortgage Lending, Marin County
(Guaranteed Rate, Marin County, CA)
Lock Watch for the Week of 3/18/2019 Volatility-O-Meter:All eyes on the Fed this week. Economicalendar (all times are Pacific):Mon, 3/18:     Housing Market Index (7am).Tues, 3/19:     Factory Orders (7am).Weds, 3/20:     FOMC Meeting  (11am).Thurs, 3/21:    Jobless Claims and Philadelphia Fed Business Outlook Survey (5:30am).  Fed Balance Sheet (1:30pm).Fri, 3/22:        Existing Home Sales (7am). 10-Year Treasury History2.60%     Market Open2.64%     One Week Ago2.65%     One Month Ago2.85%     One Year Ago(Need a rate quote for your specific scenario?  Click anywhere on this link.) W.S. Merwin, 1927 - 2019 I had hardly begun to readI asked how can you ever be surethat what you write is reallyany good at all and he said you can't You can't you can never be sureyou die without knowingw...
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By Rob Spinosa, SVP of Mortgage Lending, Marin County
(Guaranteed Rate, Marin County, CA)
Lock Watch for the Week of 3/4/2019 Volatility-O-Meter:A healthy slate of reports this week but I'm not sure any of it will break the 15bps range we've held since early January.  Employment situation on Friday warrants the most attention. Economicalendar (all times are Pacific):Mon, 3/4:     Construction Spending (7am).Tues, 3/5:     New Home Sales and ISM Non-Mfg Index (7am).Weds, 3/6:     ADP Employment Report (5:15am), International Trade (5:30am), Beige Book (11am).Thurs, 3/7:    Jobless Claims and Productivity and Costs (5:30am).  Fed Balance Sheet (1:30pm).Fri, 3/8:        Employment Situation and Housing Starts (5:30am). 10-Year Treasury History2.74%     Market Open2.68%     One Week Ago2.73%     One Month Ago2.86%     One Year Ago(Need a rate quote for your specific scenario?  C...
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By Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you
(RE/MAX Gold)
Almost every morning at Kona Haven, we watch dolphins jumping and can spot whales near the horizon. At the beaches up north, there are even more whales. As I dug my toes into the sand Thursday at Makalawena Beach, I started to count the number of blowholes on the water, and there were at least a dozen, breaching over and over, too. But they were a long ways away. Even so, it makes one feel connected to nature.Imagine how incredible it would be, though, to be paddle boarding a mile or so off Kailua Bay and have not one but three humpback whales breaching right in front of you? It would be a bit scary because you might worry they would splash or hit your board or land on on top of you. But they don't. Then the awe sets in. You can read more and see the short video in my personal blog toda...
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By Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you
(RE/MAX Gold)
I've always thought a praying mantis reminds me of the lead singer in Midnight Oil. You gotta admit there is a strong resemblance. However, I did not realize that a praying mantis is supposed to bring good luck. I had heard that dragonflies and hummingbirds can bring good luck or supposedly messages from the beyond, LOL, if you believe in that sort of thing, but had no idea about the praying mantis.Turned out to be a bit of truth to that. You can read more about it in my personal blog today at this link: Will a Praying Mantis Bring You Good Luck?
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By Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you
(RE/MAX Gold)
One of the nice things about being in an environment where tourists go is there are a lot of hotel activities everybody can attend. The Kona Kohala Chamber of Commerce sponsored an event at the Sheraton this weekend called the Hawaii Island Living and Design Expo. It was held both Saturday and Sunday at the Sheraton in Keauhou. This is one of the prettiest spots on the Kona side of Big Island.I like attending these types of expos, although my husband detests them. He doesn't want to talk to home improvement vendors because he intensely dislikes home improvement projects. That's one of the reasons I am in Hawaii right now and he is not, although I am returning to Sacramento shortly. As you guys know, I finished our remodeling project in Kona.But, Eureka! My friend Linda is still in the p...
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By Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you
(RE/MAX Gold)
Thirteen years doesn't seem like a long time, but I guess it does to a 13-year-old girl. And speaking of that, what a horrible age to be, 13. I would not wish that on any girl much less her parents. That's about the age when we should lock them up and not let them out until they turn 18. However, 13 years is how long we've had the avocado festival on Big Island. There were almost more vendors than people, but we got there in mid-afternoon with only a couple of hours left, and Hawaii does not allow alcohol at these events. You know, for the guys who don't want to go but then figure the wife and kids would like to and what the hey, at least he can enjoy a beer. You can see more photos and read all about it in my personal blog today at this link: Hawaii Avocado Festival in Kona.
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By Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you
(RE/MAX Gold)
Every day that I am on vacation in Hawaii, I am grateful that I am not in the miserably cold weather in Sacramento. Especially more so when my sister sends me a photo of the back-breaking job she just went through in Minneapolis to shovel her front sidewalk. I thought of that yesterday when I met up with my friend Loli to go to the beach. For some reason, Kuakini was blocked off, and we could not go to the beach we wanted to visit. Instead, we headed across Ali'i Drive and turned south in search of another.On foot is a big of a pain but sometimes it's the best way to discover. We located shoreline access and zipped down the path only to be confronted by a plethora of wedding guests already seated and waiting. Oops. Not our beach for that moment in time. As we marched back up the hill, a...
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By Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you
(RE/MAX Gold)
I had planned originally to post this as a Wordless Wednesday post but then I figured out that even though it happened yesterday, posting it today doesn't count toward a Wordless Wednesday post. Not to mention, talking about the photograph is not exactly wordless, now, is it? I say no. Perhaps a thoughtful Thursday instead then. Nah, I will leave it.Well, you can read more in my personal blog today and find out ways to murder turkeys at this link: Wordless Wednesday: Turkey Terrorists in Kona.
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By Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you
(RE/MAX Gold)
Have you ever tasted a fruit so deliciously satisfying that you could feel compelled to get out of bed and drive to the grocery store at 2 AM to take care of that craving? Say hello the Hawai'i Sharwil avocado! Up until last month, these types of avocados were not allowed by the USDA to be shipped to the Mainland. There was a concern about fruit fly infestation, which fruit growers in Hawaii say was not a problem. Even though that law has been lifted for the months of November to March and 32 lucky states, plus D.C., can receive shipments, the state of California is not included. No Sharwil avocados for you, Californians. Pity. You can read more in my personal blog today at this link: Hawai'i Sharwil Avocados are Shockingly Addictive.
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By Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you
(RE/MAX Gold)
Even though I have been in Hawaii since November, I have yet to perfect the art of grocery shopping for myself. I have a really good excuse for it because I haven't had to grocery shop for myself for 20 years at least. Much has changed in grocery stores.Who knew how many selections we needed for paper towels or tissues? The deodorant aisle is a mystery. Whatever happened to the choices of only Dial, Irish Spring or Dove? I have discovered you have to really pay attention to the cost per ounce or number of items inside the packaging. Too many products and brands, all vying for our eyeballs.In fact this morning, I discovered the plastic gallon bottle of Crystal Geyser water I use for coffee had its plastic cap smushed down below the lid. Why didn't I notice that when I picked up the water...
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