To date, there have been only three resales (non-developer sales) at Halii Kai that were not short sale or foreclosures. My partner Pam and I just listed and sold Halii Kai 15E for $1,050,000, and although the sellers brought money to closing, it did not go through the short sale process.
In other words, there have only been a total of 20 resales at Halii Kai, of which 7 were bank-owned and 10 were short sales. All three of the non-distressed sales were direct oceanfront condos (and I can proudly say, all were my listings or co-listings).
Excluding developer inventory, there are currently 13 active listings at Halii Kai. But here is the big change: only three of these are short sales, and among them are some competitively priced units that come furnished and in some cases with strong rental bookings in place.
There are 7 Halii Kai condos shown as "contingent" and all of these are short sales with offers that have been submitted to the lienholder banks for approval.
Amazingly, the developer has closed 9 villas in the past two months and have 7 more set to close within 30 days.
The good news is that at this pace the developer will sell out within the coming winter season. I do not expect that prices will jump dramatically, and there are still a handful of units in the foreclosure pipeline.
If you are interested in hearing more about the short sale, developer, or oceanview/oceanfront resales at Halii Kai, feel free to call or email!
A hui hou,
Beth
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