New residents, reported population increases, and market trends here on Hawaii Island.
More than ever the pandemic continues to are affecting the current market we live yet is attracting new residents to Hawaii month after month despite our low real estate inventory. as the big island continues to grow!
In fact, the Big Island is home to approximately 200,069 full-time residents as of recent census counts. Daily arrival visitor counts have decreased this month from approx. 23,292 to 16,154. This is a 38.6% decrease pre pandemic 2019. See charts.
The Big Island is drawing more attention worldwide as visitors to these islands realize the many benefits of owning property in Hawaii . Buying homes in Hawaii is not that difficult its just finding the home that suits your lifestyle best can be a challenge, but the reward of living here is the icing on the cake! The lifestyle is like no other so dreamers stop dreaming and grab your own piece of paradise.
On the flip side for Sellers the flaming hot seller’s market we’re experiencing in 2021, there’s never been a better time to sell as the demand continues. In August, single-family homes spent an average of just 18 days on the market.
TYPES OF PROPERTY HERE ON THE BIG ISLAND
There are 7 to choose between each with the own uniqueness and level of luxury:
- Mauna Kea Resort
- Mauna Lani Resort
- Waikoloa Beach Resort
- Hualalai Resort
- Kukio (private community)
- Shores at Kohanaiki (private community)
SINGLE FAMILY RESIDENTIAL
Big Island population and market trends are affecting the current market in single family homes across West Hawaii. The four major districts of West Hawaii include: North Kona, South Kona, South Kohala, and North Kohala. Our median residential home average last month toped over $900K. This is a significant increase over the last 2 years market data.
If you are interested in vacation renting these types of units are available to obtain the County of Hawaii short term vacation rental certificate (STVR) if it doesn’t have one already that can transfer to the new owner. To obtain a STVR permit the unit must conform and be located within the required RESORT NODE.
Land sales in 2021 have tripled. To understand this better here on the Big Island our resources are limited in terms of water, electricity and sewage. For someone needing to understand where on the island has what will explain how real estate is more or less expensive in various areas across the island.
The 4 major districts I mentioned above in West Hawaii (North Kona, South Kona, South Kohala, North Kohala) are completely diverse in weather patterns and depending what elevation suits you ask these questions whats best for you.
Some areas may not have a fresh water source (connected to county) so you have a catchment tank. Sewer in more rural areas or lack there of means you’ll have to install a septic tank, and some very rural areas do not have electric available so off grid means your own power supplies.
The location and sources connected with a property will affect its pricing. For example, the districts of North Kona and South Kohala have fantastic weather and beaches not to mention outstanding sunsets every day of the year.
Buy or Sell Your Hawaii Real Estate investment with Renee H. Kraft REALTOR BROKER
Trust a true kama’aina with your Hawaii real estate investments having practiced in the local market since 1992 you are in very good hands. Born and raised in these islands Renee has over 25 years of experience with Hawaii real estate, Renee delivers results.
Whether a Buyer just beginning to think about investing on the Big Island or as a Seller who has started prepping your home for the market to sell you will be in excellent hands with Renee at your side.
Showcase what makes your home unique and let Renee tailor the approach to fit your needs. To get started, contact Renee today at 808-345-2108 or via email at email@example.com or request your home valuation report at www.SearchHawaiiPropertty.com/homevaluation.
Renee H. Kraft Luxury Top performing Hawaii State Broker born and raised on the island of Oahu named one of Hawaii State’s very best Realtors. She brings exceptional service to her clientele. Licensed professional Realtor in Hawaii Real Estate since 1992. She has the experience and tenacity to market effectively, negotiate, and focus with attention to detail every step of the way. Educated 7th – 12th grades at the La Pietra Hawaii School for Girls and the University of Hawaii Manoa campus with a B.A. in Psychology. She strives to continually keep up on the Hawaii economic forecasts and daily market activity. Technology driven Renee understands the importance of keeping her clientele in the loop on current market availablility and knowing the market inventory is 100% key to get her clients what they want. Extraordinary exceptional homes, estates, condominiums, and vacant land are her specialty. Integrity and honesty are just a fraction of what Renee shares with her clients and a very strong work ethic. Putting the client’s needs first utilizing the range of experience and knowledge, combined with a a huge amount of Aloha gives her great satisfaction that she can help her clients make sound and profitable real estate investments. Member Rotary Club of Kona -Accredited Buyers Representative (ABR) -Sellers Representation Specialist (SRS) -Graduate Realtors Instutute (GRI) -Resort and Second Home Property Specialist RSPS).