Waikoloa Village is a charming area located 6 miles inland from the west coast of the Big Island of Hawaii. This lovely community covers over 19 square miles and is a mixture of condominiums and single-family homes. Waikoloa Village offers its residents wonderful amenities such as an 18-hole golf course, a community swimming pool and tennis courts.
Also, within Waikoloa Village is the Waikoloa Highlands Shopping Center, which contains many shops and restaurants, including the Waikoloa Village Market, Island Lava Java and Pueo’s Osteria Italian restaurant. With its proximity to the world-famous resorts and world class beaches, Waikoloa Village is an affordable alternative for the savvy buyer looking for their Hawaiian Dream Home.
At the time of this writing (Aug 15th), there were 23 homes for sale and 16 homes in escrow in Waikoloa Village, while there were 13 condos for sale and 11 in escrow. Of the homes for sale, the highest price one is currently listed at $825,000, and is located at 68-3529 Haena St. The highest priced condo currently on the market is listed at $630,000 and is Unit 23 at the Pointe at Waikoloa. At the other end of the spectrum, the lowest priced home on the market is located at 68-2020 Lina Poepoe St and is listed $424,000. While the lowest priced condo currently on the market is listed at $248,900 and is Unit A103 in the Fairway Terrace.
When it comes to sales in the 2nd Quarter, the number of homes sold in Waikoloa Village was outpaced by the number of condos sold. In this time frame from April 2019 through June 2019 there were 23 homes sold in Waikoloa Village, while 31 condos were sold. Of the homes sold, the highest priced one is located at 68-1891 Kawika Pl and sold for $770,000, from a list price of $799,500. The highest priced condo sold for $380,000, from a list price of the same amount and is Unit #A205 in Waikoloa Fairways.
The lowest priced home selling during the 2nd Quarter is a home located at 68-1706 Kaiaulu Pl and it sold for the low price of $325,000, from a list price of the same amount, while the condo with the lowest sale price went for $185,000 from a list price $179,000, and is located in, once again, Fairway Terrace, Unit E205.
Analysis: Although the sales of single-family homes have slowed slightly from the sizzling pace of 2018, we are still in a low inventory market in Waikoloa Village. The overall inventory of single-family homes is still hovering at about a 2 to 3-month supply. Conversely, sales volume of condos has only increased this year, leaving the inventory at only a 1-month supply, just 13 units. These numbers reflect the fact that Waikoloa Village is rooted firmly in a Sellers’ Market.
Highlights of the Q2 Waikoloa Village Market Update
- Number of homes currently for sale – 23
- Number of homes currently in escrow - 16
- Number of condos currently for sale – 13
- Number of condos currently in escrow - 11
- Highest priced home currently for sale – $825,000 68-3529 Haena St
- Highest priced condo currently for sale - $630,000 Pointe at Waikoloa #23
- Lowest priced home currently for sale – $424,000 68-2020 Lina Poepoe St
- Lowest priced condo currently for sale - $248,900 Fairway Terrace A102
- Number of homes sold in Q2 (Apr – Jun) – 23
- Number of condos sold in Q2 (Apr – Jun) – 31
- Highest priced home sold in Q2 – $770,000 68-1891 Kawika Pl
- Highest priced condo sold in Q2 - $380,000 Waikoloa Fairways A206
- Lowest priced home sold in Q2 – $325,000 68-1706 Kaiaulu Pl
- Lowest priced condo sold in Q2 - $185,000 Elima Lani Condos #2507
If you enjoyed this update, you may like Kohala Coast Market Update for June 2019.
First published at www.ViewHawaiiLuxuryHomes.com/MarketUpdates