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“May your walls know joy, may every room hold laughter, and every window open to great possibility.” – Mary Anne Radmacher |
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Aloha Everyone, This will be the last newsletter for 2021! WOW. It turned out that December has been busier than November. After traveling to Austin last month for the first time in two years, I ended up flying to Beverly Hills last week in the storm to facilitate a real estate deal. It was l ots of work, but it was worth it. The trip gave me a good perspective on how fortunate I am to live on this beautiful island. There are lots to be thankful for but best of all, it is WARM! I hope to send everyone a nice warm Hawaiian breeze and ALOHA.Happy Holidays!! Kai |
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KONA Market Update |
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Single Family Home The median price fell a bit since the previous month to $925,000. The number of active listings fell again this month to 54. There are 54.5% fewer homes for sale compared to December 2020. I cannot believe there are only 10 homes under $1M on the market. Kona typically has about 200 homes on the market at any given time. |
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Condominiums Inventory level is absolutely the lowest since I got into real estate in 2003—an unbelievable 84.2% drop in just ONE YEAR. There are only 21 condos for sale in the entire Kona. |
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What's to come The Big Island real estate market, is seasonal. The home sales peaked in the second quarter of each year during 2016 and 2019(red circle). Considering escrow typically takes 45 to 60 days to close, Hawaii's prime real estate season is between February and April. While we still do not know the effect of today's Federal Reserve's remarks regarding three interest hikes in 2022 and tapering of asset purchases, a strong seller's market should continue this winter due to a scarce inventory. |
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Big Island Resort Market |
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Did you know more over-$3M properties sold in Kona than any other area in the State of Hawaii? * 1. Kona, Big Island (74 sold in 2021**) 2. Wailea, Maui (34 in 2021**) 3. South Kohala, Big Island (34 in 2021**) 4. Waikiki, Oahu (5 in 2021*) 5. Kahala, Oahu (25 in 2021*) The Big Island is the LUXURY. **up to second quarter of 2021 |
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Real Estate in the News |
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How Working From Home is Changing the Suburbs as We Know Them In the spring of 2020, many of the typical draws to cities — plays, nightclubs, restaurants — shut down. Space took on a premium, as small apartments close to others felt particularly claustrophobic. All of a sudden, a big home in the suburbs for the same monthly price as a tiny apartment in the city got a whole lot more attractive. More companies than ever are allowing employees to work from home, and studies say that between 13 and 45 percent of the workforce is now remote some or all of the time. As a result, a new rush to the suburbs is well underway. The number of net new households that moved to the suburbs grew 43 percent last year, according to data from the Wall Street Journal, compared to 2019. |
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Local Events |
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Christmas Concert in Wamea! Kalani Pe'a Music: Wrapped in a Bow concert will be on Saturday, December 18th, 2021 at the Kahilu Theater. Kalani is a singer of power, sensitivity, and charisma, one of the most exceptional talents in a new generation of Hawaiian musicians. Click here for more information! |
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Kailua-Kona Christmas Parade! The 2021 Annual Christmas Parade will be held on Saturday, December 11, around 5:00 PM. Bring your friends, family, and neighbors to celebrate and enjoy the holiday season! Click here for any updates. |
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Lifestyle Tips & Tricks |
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Millennials and Homebuying: Real Estate Adapts to Largest Generation According to the American Community and American Housing surveys, there are 66 million millennials in the U.S., and they now represent 37 percent of the total national homebuying market. Millennials approach homebuying differently than older generations. It’s not just an obsession with Zillow browsing, but also different preferences for what they want in a home and more comfort in relying more heavily on digital processes from walkthroughs to closings, so the landscape is shifting to accommodate their needs and desires.
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Try These Alcohol-Free Spirits This Holiday Season Fueled by consumers' interest to drink less alcohol or cut it out entirely, many brands have come out with alcohol-free spirits that look and taste just like the real deal. These zero-proof creations can be used to whip up mocktails, in conjunction with alcohol in order to cut back on a drink's ABV, or, in many cases, enjoyed entirely on their own. |
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Designers Share the Interior Design Trends They're Most Excited About for 2022 2021 has looked a bit more similar to 2020 than we hoped, but that has meant we've continued to lean into our homes for creative inspiration this year. While we are crossing our fingers for more cocktail parties and jet-setting come 2022, appreciation for our homes as sanctuaries is here to stay. |
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The Best Holiday Destinations for 2022 As the green shoots of travel turn to tall, towering oaks, 2022 is a chance for us to reconnect to the best holiday destinations in a deeper, more authentic way. We’ll be reminded often of why we travel; those sparks of curiosity and adventure will be fanned to roaring flames, and as travel steadily finds its way back into our lives, we’ll appreciate every moment that comes with it! |
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