Halii Kai-Developer and Short Sales going...going...g...

By
Real Estate Agent with Hawaii Life Real Estate Brokers Big Island

If you are still looking for a deal at oceanfront Halii Kai at Waikoloa Beach Resort, here's a rather sobering report.

whale breaching off shore at Halii Kai

Whale watching from the Halii Kai Ocean Club is popular with owners and rental guests.

All Halii Kai Short Sales Currently Have Offers

For the first time in several years, there are no active short sale listings at Halii Kai.  There are seven short sales showing "contingent" which means anything from a new offer was just submitted to the banks for approval, to escrow having been opened. Those in early stages would probably still accept back-up offers.

Halii Kai Developer Almost Sold Out

For years prospective buyers have felt a lack of urgency knowing that the developer still had a substantial number of unsold units. Now that picture has changed.  All their ocean view and Coconut Grove condos have been sold.  They are down to the last 11 units: four units in Building 2 (both 2 bedroom floorplans and the 3bed/3bath townhome) and all but the 3bed/2bath model home in Building 1 where their sales office is located.

Small Number of Resales Remain

There are only eight condos for sale on the resale market (plus one non-short sale resale listing under contract).  Still a range of pricing from $409,000 for a smaller 2-bedroom on the golf course, to $1,695,000 for an oceanfront 3 bedroom.

While the rate of price increases will still be constrained by the fact that buyers who are financing will get appraisals based upon recent sales, Halii Kai looks to be the latest Kohala Coast condo community where appraisers will no longer be checking the "declining market" box.

A hui hou,

Beth

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