West Hawaii Real Estate Update: August 2023
VOLUME 20, ISSUE 8
The catastrophe on Maui I think will affect our sales and rental pricing on the Big Island in the months and years to come. I know there are a lot of people who want only Maui, but some might think the Big Island would make a great second option. Oahu is too crowded, and Kauai is too remote for most.
With our constrained inventory that would mean prices are likely to potentially rise or stay stable for the remainder of the year and beyond. This is bad news for first-time or income-constrained buyers who were hoping for a dip in prices (and eventually interest rates) to buy. Of course, only time will tell.
Kona is performing as expected. Pendings are stable at 102, and we typically close half of the pendings each month. Our “normal” close rate is between 50-60 per month or in the 80-90 range during the second quarter each year. Available inventory changed little except maybe for several $4 million houses that were put on the market last week, a rarity in town.
We are unsure how many (if any) residents will move over now from Maui, but if you have available condos/houses to rent, please let us know. We can assist you with making those available, either vacation rental or long-term. Go to my website and click either the long or short term links for info.
We recently completed the sale of an investment property in Kona that we had held for many years. Based on my 37 years of real estate sales in California including 8 overlapping years in Hawaii, Gretchen is the best combination of real estate expertise, intuition, solid judgment, and dedication to client service I have worked with. She answered her phone personally every time we called, helped recruit and manage maintenance workers, and supplied solid advice at every stage of the escrow process.
Kona Houses – Condos – All Price Points
Notes from Gretchen
Maui and Lahaina
Rentals in Kona
Thought for the Day
“Each of us as human beings has a responsibility to reach out to help our brothers and sisters affected by disasters. One day it may be us or our loved ones needing someone to reach out and help.”
~ Michael W. Hawkins, American Red Cross
Out on the Town
West Hawaii Real Estate Market Snapshot
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