Kona Condos Great Time to Buy

By
Real Estate Agent with Clark Realty Corp. Orchid Isle Office

Although I'm primarily working on the east side of the island, I keep my eyes open for good deals near the resort areas in Kona and Kohala.   The median condo sale price in Kailua-Kona and surrounding areas dropped from $335,000 in 2008 to $250,000 in 2009.  Lowest sale price in Kona in 2009 was $45,000 and the highest was $4,900,000.   Currently there are 302 active condo listings with prices ranging from $49,000 to $7,300,000.  The low end is usually short sale or distressed sale.  If you are patient it is a great time to pick up bargains.  Many of the condos in Kona can be used as vacation rentals; so there is potential to make a profit or at least pay for most of your mortgage when you are not using the unit.

Comments (1)

Katie McBride
RE/MAX Executive Realty - Hopkinton, MA
The McBride Team

My assistant owns a condo at Kamaole Sands in Maui.  Check our her VRBO site at www.vrbo.com/89136.  She has been quite successful in managing the property from Massachusetts.

Jan 05, 2010 07:12 AM