by Eddie Underwood, Realtor Broker-in-Charge
Here we are at the mid-point of the summer here in Kona and we just wanted to give a quick update on what’s been going on with our condo market. As of this post there are 179 active condos here in the district of North Kona. This includes everything, fee simple, leasehold, studio condos, 1 bedroom 1 bath and up, all the way from the high end units up at Kukio and Hualalai, to just a little leasehold property to hang a hat at over at the charming Kona Islander Inn. This is a stark contrast to where our condo market was in North Kona back in 2009 to 2010 when we were looking at over 350 condos on the market in Kona at any given time.
The good news is that there are still some nice 2 bed 2 bath units that are available. As of this email there are 74 active condos on the market in Kona that are 2 bedroom 2 bath. Some of our favorite complexes along Alii drive still have some decent units that do not have high home owner’s association dues. Our personal favorite complexes are Alii Lani, Kona Sea Ridge, and Alii Cove as their dues remain low compared with many other condo complexes in Kona. If you are someone with pets, we also really like Alii Park Place as a nice complex in the heart of Kailua that will allow you to have a dog or cat. Seascape, out near the airport also allows a pet.
With low inventory we still see sales moving along pretty well. In the last 6 months there have been 158 2 bed 2 bath condos that have sold in Kailua Kona ranging from $95,000 – $799,000. With our median price of condos sold being $282,450. There are still good interest rates available and Hawaii’s Big Island and its real estate still seems to be an attractive opportunity than that of the other islands. We have had clients tell us that they like that the prices for property on Hawaii’s Big Island as they are so much more affordable that than the other islands. Same great weather, same awesome aloha but for a lot less out of pocket. If you have more questions or want to discuss you options of a home or condo in Kona, please feel free to contact us at any time. We can be reached at 808-345-9898 or 808-929-7063. Until then Aloha and A Hui Hou!