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January, 2022 |
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“You are never too old to set another goal or to dream a new dream.” — C.S. Lewis |
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Aloha, I hope everyone is off to a great start for 2022! Winter is here, and that means snow at the summit of Mauna Kea(the photo above) and whales jumping in the ocean. It also signals the start of the busy real estate season. The peak season continues till April. The COVID daily count is highest in Hawaii and the Big Island. There were over 800 new reported cases in the Big Island today, where we have about 200,000 population without tourists. Japan shut its door again with 6-day mandatory quarantine in government facilities for those returning from abroad. Almost zero Japanese clients fly to Hawaii during the usually hectic new year travel season.
1) Virus Lead Economy: Disruption of the labor market and shutdowns. 2) Federal Reserve FRB intends to raise the interest rate Four times in 2022. 3) Earning Growth The expected US GDP is 4.4%, which is above average(3.5%) but lower than last year's 5.8%. 4) Unemployment 5) Government Spending and Election Year We need to keep eye on how much government spends this year. Mahalo for reading. Kai |
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KONA Market Update January, 2022 |
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The Big Island Real Estate, especially the west side (Kona - Kohala), finished 2021 strong. And we are off to a strong 2022. The single-family home market never missed a beat in 2020 and continued with a record-breaking year in 2021. As of today, there are only 40 homes on the market. 2021 turned out to be a big year for CONDOMINIUMS. 77% jump from 2020 and 37% more condos sold compared to 2019. As of today, there are only 21 condo units for sale! |
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As we can see from the above, both the single-family home and condo market activity easily surpassed 2019. The inventory level is at the lowest. |
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The median price of Single Family Homes in Kona as of January 16th reached $1.2M. This is the first time in history that the median price surpassed the $1M mark. However, this big jump from year-end is likely due to the small sample size. We shall see if this price holds. |
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Below is single-family home data. The active listings decreased by almost 90% in 36 months. |
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Big Island RESORT Market |
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The Big Island luxury market exploded since the onset of the pandemic. Here is the comparison between 2019 and 2021. Over $1M: +133% Over $3M: +104% Over 10M: +267% |
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Real Estate in the News |
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Where the Housing Market Is Going in 2022 As Told by 7 Leading Forecast Models A perfect storm. That's the best way to describe the red-hot housing market we've seen from coast-to-coast during the pandemic. It was spurred by a combination of recession-induced low mortgage rates, remote work allowing buyers to sprawl further away from their workplace, and a wave of first-time millennial homebuyers entering into the market. Of course, years of under-building means there simply aren't enough homes available to meet this demand. Cue record price growth. But how much longer will this run last? |
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Local Events |
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Kokua Kailua Monthly Stroll Kokua Kailua, the popular monthly village stroll on Alii Drive, happens one Sunday each month, and will be January 16 from 1pm to 6pm. Kona’s Historic Kailua Village closes to traffic and becomes a festive, outdoor marketplace that makes for a fun family-friendly day. Highlights include 100 vendors showing the work of local artisans, musicians, & merchants offering a fantastic shopping experience and delicious dining options. Learn More! |
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PGA Champions Tour! This event offers a rare opportunity to see top-quality and renowned golfers up close, with minimal crowds, in an unparalleled setting. Enjoy golf in a beautiful setting that combines spectacular ocean and mountain views! Tickets & Information HERE! |
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Lifestyle Tips & Tricks |
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Two Factors That May Impact the Real Estate Market in 2022 It's no secret that 2021 has been a hot year for the real estate market. Houses are selling at record prices, bidding wars are frequently taking place for the limited inventory available, and it's not unusual for buyers to pay for home purchases entirely in cash. Though the market appears to be normalizing somewhat as more listings become available, 2022 is poised to have some unique issues and challenges of its own when it comes to real estate sales. Two factors in particular are likely to impact the market in the year ahead.
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These Are the Biggest Color Trends To Keep An Eye On In 2022 The colors we surround ourselves with can directly impact our emotions. Choosing the right dining room paint or the best pop for living room paint colors can make all the difference in uplifting the mood of any space. And after two rather interesting years, more and more design enthusiasts are turning to color to liven up their homes and create spaces of inspiration. |
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Organization Tips for Every Room in Your Home Organizing your home doesn't have to happen all at once. Go room by room with these practical storage solutions and decluttering ideas for kitchens, bathrooms, living areas, and more. |
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In Escrow!! |
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