Today I took a look at sold statistics in the North Kona and South Kohala areas. I’m hearing economists forecast the end of the recession by the end of the year.
I want to watch the sales statistics for upper end and luxury residential starting from January 2009 to see when the data will identify the market “bottom.” Some think we are there, and others are still skeptical. Let’s start with single family and condominium homes in the $1,000,000+ range:
| $1,000,000+ | Median Sales Price | Units Sold |
| January | $1,540,000 | 3 |
| February | $1,000,000 | 4 |
| March | $1,400,000 | 7 |
| April | $4,900,000 | 1 |
Here is the sales data for Kona Kohala area homes during the same period in the $500,000 to $1,000,000 range:
| $500K-$999K | Median Sales Price | Units Sold |
| January | $600,000 | 15 |
| February | $644,500 | 14 |
| March | $540,000 | 5 |
| April | $600,000 | 5 |
I will share future sales data here and together we can discuss the emerging trend. While “trend spotting” is entertaining and hopefully helpful, my number one concern continues to be interest rates. Buying with the best interest rate is far more important than buying at the perceived bottom of the market regardless of rate.
Assuming today’s rates are a good deal, what are Big Island Hawaii upper end and luxury neighborhoods to watch?
Over $1,000,000, at Mauna Lani Resort, The Point ocean view condos remain popular. The oceanfront location can take the edge off the 1980s interiors.
In Hualalai Resort just north of the airport, there are more luxury homes on the market now that at any time in the resort’s history. Consequently, there is a nice selection of beautiful single family home under $10,000,000.
Not on the “deal” list but definitely worth a look if you prefer the most prestigious address on the Big Island: The Bluffs at Mauna Kea Resort #15. This is only the second time a home in this neighborhood has been marketed on the open market.
Under $1,000,000 the neighborhoods to watch are the Kumulani condos at Mauna Kea Resort. There are still a couple of good developer buys.
At Ka Milo in Mauna Lani, the developer is very motivated and is offering a duplex style single story unit with a two car garage around $600,000.
Hali’i Kai at Waikoloa Beach Resort remains one of my favorite entry level resort neighborhoods. Its oceanfront pool club is outstanding.
These neighborhoods feature beautiful tennis and golf facilities, as well as access to the best beaches on the island. For more details or photos, please ask.
Tags: Big Island Hawaii Real Estate, data, Kohala, Kona, Kumulani, luxury residential, Mauna Kea Resort, statistics, The Bluffs