Big Island Real Estate Market News

Sales of single family residential homes increased 29% in Kona in 2003, and sales of condos increased a whopping 45%! It is definitely a seller’s market, with inventory very limited. Many listings receive multiple offers and often sell for more than the list price. No vacant land is currently available in or near Kona for under 200K. Property can still be purchased north or south of Kona for significantly less, which has increased traffic to and from Kona in the mornings and evenings.

Mayor Harry Kim addressed a large turnout of local residents at a meeting this week to discuss the increasing traffic problem throughout West Hawaii and the County’s apparent slow response to a solution. He detailed the plans that are currently ready for implementation and assured West Hawaii residents that “help is on the way”. Several new road projects are set to begin within the next 6 months, with an additional number of projects on the calendar for next year. Any relief from our current traffic situation will be most welcome. One project of note, the Lako Street extension to Hualalai Road, which as been in the works for a number of years, is scheduled to begin this month. This will increase traffic through the Kona Vistas and Iolani subdivisions and may affect property values within those neighborhoods.

Big Waves

Winter is the time when we get higher surf due to storms in the Pacific. A high surf advisory has been issued for the islands this weekend, and surfers are gearing up to do battle with the big waves. We took some photos on the north shore during an earlier weekend of high surf and I have included one here for your enjoyment. Maui is faintly visible in the background.