Buying a Luxury Home in the Keauhou Resort Area of Kailua-Kona, Hawaii
Hawaii's luxury home market is in the early stages of recovery. Prices began falling in late 2007, hit bottom in late 2011 and have started to stabilize throughout 2012. Kona luxury home sales are still in a buyers market but this may not last long. Condominiums and lower priced single family homes have shown price increases throughout the past year, luxury homes in Kona may not be far behind.
Many of the luxury homes sold in Kona are used as vacation homes and sit empty for much of the year. I was visiting a friend in the upscale, gated Keauhou Estates recently and was surprised to see about 90% of the homes empty with the lights out. I suppose if you aren't able to use your home for much of the year, it's a good idea to buy in a neighborhood like Keauhou Estates that has gates and a 24 hour security guard.
Some of the homes in the Keauhou Estates are used as Luxury vacation rentals when the owners are not using them and they are in high demand. Nightly rates for Keauhou Estates vacation homes range from the mid $300 range to around $1,000 for a fully furnished home with private swimming pool and ocean views.
Just across the street from Keauhou Estates are the Bayview Estates, another upscale gated neighborhood. Both of these communities have custon built homes with ocean views and lot sizes ranging from 15,000 square feet to 1/2 acre. Bayview Estates however, do not allow rentals for periods less than 30 days.
The Bayview and Keauhou Estates are located in the Keauhou Resort area of Kailua-Kona at elevations ranging from about 350' to 500' feet above sea level. Shopping and restaurants are just down the road at the Keauhou Shopping Center. Some of the Islands most popular beaches are nearby on Alii Drive and 36 holes of scenic golf are next door at the Kona Country Club, a public course.
If you are interested in buying a luxury home in Kailua-Kona , these two upscale neighborhoods in the Keauhou Resort area are a must see. Contact me for more information, or to schedule a tour of luxury homes in the Keauhou area of Kailua-Kona.
Rich Bosselmann R(S)
Your Kona real estate connection.
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