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Shohei Ohtani | Hawaiian Cacao | Real Estate Q1 Data| |
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| The spring is almost over and the jacaranda flowers on the Big Island of Hawaii are almost done blooming. Meanwhile, the Big Island is all abuzz with talk about LA Dodger's Shohei Ohtani. Shohei is the biggest star in Japan right now, and it's only natural that it would make headlines not just in Japan but also in the U.S. if the highest-paid player in Major League Baseball builds a mansion on the Big Island for $20 million. Supposedly, he's designing the house with pitching practice area and a batting cage, so during the offseason, you might see Shohei training in Hapuna. Hapuna, also the home of our very own Islander Sake Brewery, is drawing attention for many reasons. |
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| | Of the 14 lots, 4 have already sold between $6.9 million and $7.5 million, commanding a considerable premium. The pace of sales is remarkable. The remaining 10 lots are available for sale, ranging from $4.9 million to $6.9 million. This month's "Big Island Video" includes views from the actual land owned by Shohei. Please call me if you want to be his neighbor. |
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Hawaii's plants are thriving. This giant anthurium, known as "Obake (means "monster" in Japanese)," was grown by Larry, a member of Daifukuji Temple, and donated to the temple. At our home, orchids bloom profusely, and we receive fresh papayas and bananas weekly from a friend's garden. The vivid colors of the flowers and the freshness of ripe fruits invigorate the body and promote health. |
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| | This month, we visited South Point aka Ka Lae, the southernmost tip of the United States! Famous for its strong winds and currents, there's a spot near the cliffs sheltered enough to swim. If caught by the wind and currents, I’d be swept all the way to Tahiti! I wanted to swim but chickened out due to the winds and the cliff's height. Someday, I am going to dive into that deep blue sea. Mesmerizing! |
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The first quarter of 2024 has ended, and real estate prices in Kona are maintaining their all-time highs. Sales are robust compared to the same period last year, with inventory down about 20%. Both the number of properties sold and the unit price have increased from the same time last year. Please see below for more detailed market trends. |
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This month, I visited a cacao farm for the first time in my life. Recently, due to poor cacao harvests worldwide, chocolate prices have skyrocketed. Amidst this, Puna Chocolate is thriving on the Big Island. They've opened outlets at Kona's Aloha Theatre and Alii Drive and are now offering cacao farm tours. The chocolates made from cacao harvested in different regions each have a unique taste, which is quite fascinating. Along with coffee, Hawaiian cacao might become famous too. Thank you for staying with me this month! |
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| Experience the vibrant lifestyle of Kona and the Big Island through this exclusive video. This month, I have captured videos of Shohei's lot , US southernmost point, Cacao farm, etc . Let this visual journey rejuvenate your spirit with the true essence of Hawaiian Aloha. |
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Prices, Listings & Sales Rise, But Economic Indictors turn Cloudier
Economic indicators shifted somewhat in the 1st half of April: The general inflation reading for March unexpectedly ticked up to 3.5 from 3.2%. Which put in doubt reductions in the Fed's benchmark rate commonly expected for 2024, This caused the mortgage interest rate to rise above 7%- though still well below rates seen last fall.
Year over year, the median single family home sale prices in March 2024 was up 4.7% and the median condo price rose 5.8%. Median sales prices usually peak for the year in late spring.
The number of new listings was up 15.5% year-over-year, while active listings rose 14.4% y-o-y. The increase in inventory is excellent news for buyers but the supply of homes for the sale remains very low compared to 2017-2019.
Monthly home sales jumped 19.6% from February but were down 9.7% y-o-y. New listing activity and closed sales normally continue to climb through May or June. |
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| -Extremely local but important- |
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Overall Insights for Kailua-Kona Real Estate Market
The Kailua-Kona real estate market is demonstrating strong and vibrant activity, particularly in the single-family home sector, which experienced a significant increase in median prices. The condominium market also shows healthy activity with an increase in demand, as indicated by the rise in pending sales. The supply for both markets suggests a competitive environment, especially for single-family homes where inventory is tighter. |
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The construction of Dodger's Shohei Ohtani's mansion has brought considerable attention to the Mauna Kea Resort. The Mauna Kea Hotel is currently undergoing renovations, including its hotel and golf course, and the anticipation for next winter season is already high. Inventory at ultra luxury private resorts remains tight, and condominiums continue to be in a sold-out state. |
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| 5 Pro Tips for Movers From a Realtor Who Has Helped Countless Families Makes Their Next Move |
| With an average of nearly one dozen moves during life, most Americans have a fair amount of experience packing up and settling in again. Now, imagine how many moving-related tips and tricks a Realtor® learns while watching clients move every week: We’re talking expert-level status when it comes to making a smooth transition from home to home... |
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| | Muramatsu Small Farm is located in Holualoa, the heartland of Kona coffee. It is well known for its authentic coffee-making process. I have known the owner, Yukio, for over ten years. Recently, he has been active as a board member of the Kona Coffee Festival, which makes me proud as a fellow Japanese. Kona Coffee history is synonymous with Japanese American heritage here. I visited the farm, bought some coffee, and enjoyed a delicious cup brewed right there. You can see the farm in this month's video. |
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| | This festival, held in picturesque Kalakaua Park in Hilo, is a beautiful celebration of the Hawaiian art of lei making. Attendees can enjoy authentic hula performances, hands-on lei-making demonstrations, and the soothing sounds of traditional Hawaiian music. It's an ideal event for those looking to immerse themselves in the cultural practices of Hawaii. |
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| | Kona Orchid Society Mother's Day Show and Sale |
| NEW THIS YEAR is an Early Bird Special, admitting up to 100 beat-the-crowd shoppers starting at 8am. Early Bird admission is $20 and includes a cup of coffee. Tickets are sold online while they last at konaorchidsociety.org. The event fun includes a display of blooming orchids by club members (bring your camera!) and a sale presenting a wide selection of healthy plants from Hawai‘i Island growers. |
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| | | ABBA's hits tell the hilarious story of a young woman's search for her birth father. This sunny and funny tale unfolds on a Greek island paradise. On the eve of her wedding, a daughter's quest to discover the identity of her father brings three men from her mother's past back to the island they last visited 20 years ago. The story-telling magic of ABBA's timeless songs propels this enchanting tale of love, laughter and friendship, creating an unforgettable show. A large cast, non-stop laughs and explosive dance numbers combine to make Mamma Mia! a guaranteed smash hit for any theatre. A mother. A daughter. Three possible dads. And a trip down the aisle you'll never forget! |
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| | 20th Annual Celebration of Life |
| This year will be the 20th Anniversary of the Big Island's largest lantern floating event, Celebration of Life. It is free and open to the community on May 26, 2024, at Reeds Bay in Hilo. Join us to be part of the uplifting, heart-moving event where we will honor our loved ones who have passed in remembrance and reflection of love. There will be live music, Bon Dance and Hula Halau performances, local food trucks and vendors, baked goods sales, and much more. This year, we will also send out heartfelt support to those in Maui through our Special Paddle Out Ceremony. Lanterns for the event will be available for purchase beginning 4/26 online or at the event for $25 each. |
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Welcome to my monthly feature as a member of Compass, the nation's #1 brokerage and founding member of REALM, the premier global real estate network. Here, I'll introduce you to my trusted referral partners from the U.S. and worldwide, each personally known to me for their exceptional expertise. This month, let me introduce Ashley from Georgia and Ryan from Los Angeles. Click on their profile images to explore the latest offerings. I am meeting both at the REALM GLOBAL COLLECTIVE event at Laguna Beach in May, where over 250 top agents from the US and the World will come together. Japan, Hawaii, the US, and the World. I have the network. |
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| Lifestyle Tips and Tricks |
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| Time to Sell Your Home? Here are Three Questions to Ask Yourself.... |
| These questions can ensure that you're making the right choice for yourself and your family. |
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80% of Households are Spring Cleaning |
| Eighty percent of U.S. households are engaging in spring cleaning this year, according to the American Cleaning Institute... |
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| Architectural Digest Releases 2024 Outdoor Forecast |
| The pandemic single-handedly impacted how we live in our homes both indoors and outdoors. While outdoor spaces were hardly an afterthought at the time—in recent years, homeowners have been more focused on how to elevate... |
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| | | 4 BD 4 BA 2826 SF $3,475,000 |
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| | 82-6115 Hawaiʻi Belt Road |
| 0 BD 0 BA 0 SF $1,995,000 |
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| | | | 78-261 Manukai Street, Unit 806 |
| 2 BD 2 BA 1500 SF $749,000 |
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| | | 5 BD 6 BA 5006 SF $3,975,000 |
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| | | | | 3 BD 3 BA 2276 SF $1,495,000 |
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This month's visit local cacao farm was quite intriguing. The minimum cacao content required in chocolate is 35%, while Puna Chocolate's chocolate bars contain 70%—no wonder it tastes so rich. Like coffee, it's hard to imagine that chocolate is made from Cacao fruits and their unique 'taste' and shape. A visit to a cacao farm is a fascinating experience. In May, the Realm's Global Collective event will bring together nearly 300 top brokers from across the United States and around the world in Laguna Beach, California. Please contact me if you need the most up-to-date real estate information from anywhere in the world. This year, the EV company Rivian is one of the sponsors. That will be fun. Please contact me about real estate on the Big Island, throughout the US, or anywhere in the world. |
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| | Connecting Hawaii-US-Japan Top 1.5% of US Real Estate Professionals, 2020-2023 |
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Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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