Kailua-Kona, HI Real Estate News

By Kona Home Team (luva llc) Lance Owens (RS), Getting transactions done, when nobody else can!
(Kona Home Team (luva llc))
 If you’re thinking about selling your house, you may have heard about the housing market slowing down in recent months.Aloha, Lance Owens (RS) with LUVA Real Estate and our partners at KCM here, and while it’s still a sellers’ market, the peak frenzy the market saw over the past two years has cooled some. If you’re asking yourself if you’ve missed your chance to sell your house and make a move, the good news is you haven’t – motivated buyers are still out there. But you do need to price your house right for today’s market. Here’s why. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: “Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.” It’s true buyer demand has slowed over the past few months as...
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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))
Is It Enough To Offer Asking Price in Today’s Housing Market? West Hawaii and National Numbers.  Lance Owens Lance Owens Your 2022 go to real estate expert for the Big Island of Hawaii -37 years in Hawaii, the last 22 in Kona. Local Expertise you can count on. Published Apr 27, 2022 + Follow Aloha, Lance Owens (RS) with LUVA Real Estate and our Partners at KCM bringing you the latest in real estate news and trends. If you’re planning to buy a home this season, you’re probably thinking about what you’ll need to do to get your offer accepted. (Read my article on How to Win ) In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised p...
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By Rich Bosselmann-RS, Your Kona real estate connection.
(Koa Realty Inc.)
Things You Need to Know Before Buying Land in Kona, HawaiiIf you're in the market to buy your own piece of paradise in Kona, Hawaii, you should know a few things first and this is a good place to start. Zoning laws, climate zones, building restrictions, use restrictions, cultural considerations, access to utilities, you name it! Every state, county and neighborhood across the country is different and you need to know the things that may affect your use and enjoyment after you purchase land in Kona, Hawaii.Now, the easiest way to handle this is to, of course, call me. I will answer your questions, find out what you are looking for and help you find a great property in Kona. I have been selling real estate in Kona for over 20 years and I can honestly say experience is not expensive, it's ...
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By Rich Bosselmann-RS, Your Kona real estate connection.
(Koa Realty Inc.)
If you've decided to make the big move to Kona, Hawaii, congratulations, it's a great place to live. Now, it's time to figure out some of the logistics. Hopefully, I can help.Pets? If you have a dog or cat, you can bring them home from the airport shortly after you arrive. That's a big change from the 30 day quarantine on Oahu that was required when I moved to Kona. You do however, need to follow a strict protocol on the rabies antibody test timeline. Here is a link to the State of Hawaii Animal Industry Division . They have everything you need, including applications, forms and check lists.Transferring your out of state drivers license for a Hawaii license, is a good idea. Having a Hawaii drivers license can get you Kamaiiana rates on hotel stays, golf and other fun stuff. At the Count...
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By Rich Bosselmann-RS, Your Kona real estate connection.
(Koa Realty Inc.)
Hawaii Island has three active volcanos. While the risk of having a lava flow inundate any individual property on the island is low, the hazard is not the same in all areas. The USGS geologists and volcanologists put together a series of Lava-Flow Hazard Maps over the years, most recently in 1992. This map has 9 hazard zones with lava zone 1 being the most hazardous and 9 considered to have the least hazard of lava flow inundation. In developing these maps, they took into consideration topography and rift zones around the active and dormant volcanos on the island.Lava-flow hazard zones are intended by the USGS to be used by the public to determine general lava hazards over an extended period of time. However, mortgage lenders and insurance companies use these maps to set premiums, rates...
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By Rich Bosselmann-RS, Your Kona real estate connection.
(Koa Realty Inc.)
  Cottages on Alii Drive - New Housing Development on Alii DriveThere is a new housing development getting ready to break ground in Kailua-Kona. Cottages on Alii Drive will consist of 58 single family homes and a neighborhood park on a 10 acre parcel. Soon there will be more information about floor plans but at first glance, it looks like there will be both single story and two story homes with lot sizes ranging from 5,000 to 13,000 square feet, with most in the 5,000 range. The developer is Stanford Carr, he has built quite a few, well received condominium and single family developments in West Hawaii and on Oahu. The location for these plantation and craftsman style homes is fronting Alii Drive, across the street from the ocean and about a mile south of historic Kailua Village. Hawaii...
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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 Broker, Put 40 years of experience to work for you
(Elizabeth Anne Weintraub, Broker)
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 Broker, Put 40 years of experience to work for you
(Elizabeth Anne Weintraub, Broker)
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 Broker, Put 40 years of experience to work for you
(Elizabeth Anne Weintraub, Broker)
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 Broker, Put 40 years of experience to work for you
(Elizabeth Anne Weintraub, Broker)
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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