The pleasures and convenience of Waikoloa Beach Resort as a vacation destination is very much on my mind. Last week I attended a convention at the Hilton Waikoloa – and although my home is a 45-minute drive and our Kohala Coast office is right in Queenʻs Marketplace, I decided that early mornings and late nights warranted booking a Waikoloa Beach Villas condo through Hawaiʻi Life Vacation Rentals. A condo that I helped clients purchase, by the way, so that makes it extra sweet.
Being here reminded me that I wrote about the entire Kohala Coast resort market four months ago, and about Kolea condos and Halii Kai condos in February, but I have not done a market report for Waikoloa Beach Resort specifically since December 2022! Letʻs see how things look heading into the high season for visitor arrivals and sales.
Sunrise view from the balcony of my Waikoloa Beach Villas vacation rental – overlooking the pond next to the Kings Shops
Waikoloa Beach Resort Condo Sales – Prices Remaining Strong In 2023 and 2024
When I wrote about the Waikoloa Beach Condo market at the very end of 2022, I predicted that 2023 would bring a fairly dramatic decrease in the number of sales, although not a drop in prices. At that stage, economist were predicting a slower real estate market overall in 2023, and recovery in 2024.
Letʻs see what actually happened in 2023 — here is a summary Waikoloa Beach Resort Condo Sales 2023:
| # | Lowest | Highest | Average | ||
|---|---|---|---|---|---|
| Listing Price | $600,000 | $2,320,000 | $1,047,355.84 | $977,500 | |
| MLS Sale $ | 56 | $600,000 | $2,270,000 | $1,014,598.20 | $957,000 |
| DOM to sale | 0 | 325 | 46 | 27 | |
| Sale/Current Price | 87.70% | 102.30% | 97.86% | 98.55% | |
| Sale/Original Price | 71.20% | 911% | 110.55% | 98.50% | |
| DOM (Active/Contingent) | 20 | 256 | 97 | 56 | |
| $/sq ft | $622 | $1,352 | $811 | $783 |
| # | Lowest | Highest | Average | ||
|---|---|---|---|---|---|
| Listing Price | 45 | $730,000 | $3,550,000 | $1,292,277.78 | $1,050,000 |
| MLS Sale $ | 45 | $700,000 | $3,100,000 | $1,262,900 | $1,065,000 |
| DOM to sale | 45 | 0 | 218 | 34 | 8 |
| Sale/Current Price | 45 | 87.30% | 105.70% | 98.67% | 100% |
| Sale/Original Price | 45 | 78.30% | 105.70% | 97.27% | 99.40% |
| DOM (Active/Contingent) | 0 | 0 | 0 | 0 |
There are four condos currently in escrow, which takes us to 49 sales with three months to go, or roughly the same pace of sales as in 2023. The average prices are much higher – but that last column which is the median rather than the mean shows us that we have a distribution that reflects that nine of the sales were at Haliʻi Kai and Kolea, the high end of Waikoloa Beach Resort condominium communities.
Waikoloa Beach Resort Condos – Active Listing Inventory Increases
Kolea at Waikoloa Beach Resort – enjoy the infinity edge pool with an ocean and mountain view or walk through the private gate to the beach
In December 2022 as the post-pandemic buying spree began to ease, there were only a total of thirteen active condo listings in all of Waikoloa Beach Resort. Now you can flip the digits – there are currently 31, not 13, condominiums listed. They range in price from $875,000 for a sweet one-bedroom vacation rental unit at the Shores to $3,975,000 for a 3 bed/ 3-1/2 bath penthouse villa at Kolea in pristine condition (eligible for a vacation rental license but has never been rented).
A disproportionate number of the active listings continue to be at the high end (Haliʻi Kai and Kolea) – there are simply fewer condominium buyers in the $2-4 million target price point. But those are still my absolute favorite properties for investment or personal enjoyment, with Haliʻi Kaiʻs oceanfront club and restaurant competing with Koleaʻs beachfront location. Which one do you prefer?
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