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Kai's Kona Update August 2022 |
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HAPPY AUGUST! Aloha, everyone! The new school year has begun, and Kona Coffee harvest season is here again. I can't wait to taste the first crop! My daughter, Makana, turned 21 this month!! It's hard to believe she reached the drinking age. |
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Speaking of the "drinking age," Islander Sake Brewery, Hawaii's only SAKE brewery, is in the process of moving to the Big Island. My client and good friend Chiaki started the Sake brewery in Honolulu just before the onset of the Pandemic. Amid the Pandemic, the brewery not only survived but thrived! I am a big fan of Chiaki and her sake and helping her company brew the very first Sake on the island next month. Exciting! If you are a SAKE FAN, please let me know. Let's talk real estate over SAKE! |
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The real estate market here seems to stabilize after the interest rate shock in June. The current inventory level(absorption rate) for the single-family home market is 2.3 months, or 43% absorption rate. It was 0.7 months' worth of supply a year ago. The real market is still well within the strong Seller's market. There is only 0.7 months' worth of supply for the Condo market. That is very tight! Please read below for more detailed market trends. |
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The newest private resort in Kona, Kohanaiki, is going to release the second phase of Hale Hinahina. The price starts from $4.25M. Kohanaiki is known for its beautiful private golf course and clubhouse. I love the family-friendly atmosphere. Great Staff and truly world-class amenities. Thank you for reading!! Kai |
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Kona Market Update |
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KONA SINGLE FAMILY HOME MARKET TODAY The median price is stable at record high $1.095M. The Year over Year number of CLOSED SALE is down over 31%. |
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Below is a Month-by- Month Comparison of the last three years(2020, 2021, and 2022). Active Listings (Inventory): - Doubled(+100%) sinced June 2022 - Still about 60% of the Pre-Pandemic level - Increased by+106% since August 2021 |
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The pace of Single Family Home sales has slowed considerably since June 2022, although it rebounded somewhat in August. PENDING SALES as of August 1st, 2022: - 23% fewer, Year over Year -Big drop after June 2022 (About 40%) -Rebounded in August 2022 |
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Condo Market Just as the single-family home market, the median price is steady, and condos are selling at a slower rate compared to the previous year. |
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Big Island Resort Market |
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The number of active listings is on the rise in the resort as well. However, the inventory in PRIVATE RESORTS such as Four Seasons, Kukio, and Kohanaiki is still extremely limited. |
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Real Estate in the News |
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Moves that Homebuyers Can Still Make to Find a Lower Mortgage Rate With inflation and the possibility of further rate increases, here are some tips and tricks to find ways to lower your rates. |
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Local Happenings |
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Volcano Art Center Quilt Exhibition Ongoing Until August 14 Volcano Art Center is proud to announce the 4th biennial quilt exhibition Recover: Looking Forward, Honoring the Past at the Volcano Art Center’s Niaulani Campus in Volcano Village. The exhibit is on display Wednesday – Sunday from 10am - 4pm in Dietrich Varez Hall in the Hale Hoʻomana building at 19-4074 Old Volcano Rd. |
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Lifestyle Tips & Tricks |
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10 Basement Decorating Ideas That Will Transform Your Home's Lower Level Many home dwellers are quick to transform their basements into gyms, home theaters, or play areas for their little ones—and as you make these decisions, it's important to consider the style and flow of the space. After all, with the right modifications, your basement just might become one of the most trafficked areas in your home. So, shouldn't it look it's best, too? |
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28 Creative Ways to Grow a Garden, Even When You're Short On Space Flowers and plants bring so much beauty to every space, big or small, inside or outside. Given the benefits of gardening, the practice shouldn't be limited to wide-open outdoor spaces and large greenhouses. Get your green thumbs ready for window-box flowers, hanging plants, tiny veggie gardens, and more. |
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100 Best Grilling Recipes You Have to Try Looking for new grilling recipes to try this summer? Check out 100 reasons for you to light the grill and enjoy the great outdoors this summer . |
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The Top Interior Design Trends to Watch, According to Experts In 2021, people focused on pieces that mix style and practicality — think self-cleaning bidets for a more luxurious bathroom, for example. But this year, everything from bringing the outdoors into experimenting with pattern and texture, and finding design inspiration from past decades are of interest. |
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Kai's Pick |
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Kona Vistas Subdivsion is where I have been living since I moved to the Big Island 21 years ago. I first rented and then purchased the current home here because I love this 269 lot community. Each lot has one-third of an acre. There are two tennis courts and a recreation center pavilion, which residents can use for free. Most of the homes have an amazing ocean views and sunset views! Please click below for the latest Kona Vistas homes for sale. |
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Billionaire Larry Ellison Lists North Palm Beach Estate For $145 Million Introducing 12210 Banyan Road, the largest Oceanfront parcel on the market in South Florida. Spanning over 6.5 acres with 562 linear feet of Ocean-frontage, this property represents a singular opportunity to build a truly magnificent and expansive Oceanfront trophy estate unlike any other. |
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Napa Valley’s Seven Stones Winery and estate for sale for $34M The Seven Stones Winery estate has come to market with a $34 million price tag that befits the Seven Stones label. |
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