We are in the process of upgrading our Kona Dream Homes site and merging it with our vacation rental site, Escape to Extraordinary, to give us better functionality and to give you a better experience. Please bear with us during this changeover.

As you may see, I am no longer with Coldwell Banker Big Island Properties and have formed my own new company, Escape to Extraordinary. Coldwell Banker merged with MacArthur-Sotheby’s — official January 1, 2009. As they already had a vacation rental program (and, mine was growing so rapidly!), I chose to start a brand new company.

Market News

During the first few months of 2008, prices have continued to remain flat with some decline in the condo market as well as in homes priced between 600 and 2M. Inventory remains high and sellers are negotiating on terms and price for qualified buyers. Opportunity is here for great deals on beautiful properties for those buyers who are ready to make the commitment.

In Kona we have homes in the Palisades area listed from the high 300’s and up. Pualani Estates new homes are listed from the 400’s up. Kona Vistas has many terrific homes, some with pools from the 800’s and there are wonderful opportunities in the mauka subdivisions with eye-popping views listed under 2M. In Waikoloa Beach Resort and at the Mauna Lani Resort, select new condos are being offered fully furnished and some have other enticements as well.

Baby Boomers, it is time to seriously think about your retirement or second home and take advantage of the opportunities that abound in this market. Call me for information!

Coldwell Banker’s New Queens’ Marketplace Office!

In November of 2007, Coldwell Banker Big Island Properties opened a beautiful branch office in the new Queens’ Marketplace at Waikoloa Beach Resort. We can now offer greater convenience to our Kohala Coast and Waikoloa clients and have expanded our vacation rental services to owners of Kohala Coast Resort properties with a new program we call “Escapes”. Visit our new web site at www.escapetoextraordinary.com to see what we can offer in the way of services to owners and guests. Properties are being added and content expanded daily. We are very excited to have greater involvement in this wonderful and rapidly growing area of the island. Agents are available from 9:30 am to 9:30 pm daily to take care of all of our clients’ needs. Stop by and visit us if you are in the area!
The Queens’ Marketplace

Market News

Buyers, if you were considering the purchase of a second home or investment property here on the Big Island, but were put off by the high prices of 2005 and 2006, it may be time to take another look. Prices on both homes and condos are down considerably over the last year and inventory is high. With the present mortgage situation it has become increasingly important for sellers to consider all offers and be willing to negotiate on price and terms. Some sellers are now willing to carry a portion of the debt to assist buyers in their purchase. Buyers with good credit and cash for down payments are being courted by lenders and may be in a better position to borrow than they were just a few weeks ago.

Here in the Kona area we are seeing residential home prices starting in the low 400’s, where a year ago they were closer to 500K. New homes in Pualani are coming on the market in the mid to high 400’s for the smaller models. That is great news for local buyers who want to escape a rental. Palisades also has quite a few homes listed in the high 400’s to low 500K range and then on up. Homes in those areas make great long term rentals, but cannot be vacation rented.

If you are interested in a condo, there are some terrific buys in the market. Alii Cove has a large number of newer condos offered for resale in the 400-600 range depending on size and view. That is down 100+K from the levels of early 2006. Those units can be rented for longer term, but not for under 30 days. Hualalai Village, Sea Villas, and Alii Park Place offer similar savings on newer condos.

If you are looking for an interesting investment opportunity, I have a top floor Kona Bali Kai unit that is an oceanfront 2 bedroom, 2 bath unit with a large lanai being offered at 579K. It needs updating, but would then be a wonderful vacation rental or second home and is a great opportunity to own oceanfront property at a reasonable cost. That condo can be seen at: http://www.konadreamhomes.com/vacationrentalsphotoskonabalikai406.html

Up at the Waikoloa Beach Resort, a popular vacation destination, there are a number of Colony Villas and Fairway Villas condos being offered in the low to mid 500’s on up to the 600’s. Less than two years ago they all started in the mid 600’s and went up to over 800K. Those would make terrific vacation rentals! Waikoloa Beach Resort is expanding and will open The Queen’s Shoppes in October, which will feature mid to high end shops and a number of new restaurants. Our own office will be opening a new branch up there as well, and we are very excited about it.

If you’d like more information on any areas around Kona or up the Kohala Coast, please let me know. I’d be happy to address your questions.

Hurricanes and Earthquakes and the Lunar Eclipse

The Big Island has had a number of interesting happenings the last couple of weeks. Hurricane Flossie threatened the island with category 4 winds for a few days in mid August. We all heeded the warnings and made appropriate preparations, but to our delight, the hurricane fizzled out as it passed about 100 miles south of Southpoint. Here in Kona it did not even rain!

Just the day before the hurricane was predicted to hit, a level 5 earthquake struck the southeast side of the island, but it did not cause any measurable damage to property. We did not really even feel it much on the Kona side.

This week brought a spectacular lunar eclipse to Hawaii and the western portion of the US. David and I were able to stay up (surprisingly), and watched it from our driveway. It was a beautiful night and David was able to capture the eclipse on camera showing the various stages. I hope you enjoy the pictures…

8/27/2007 11:05pm HST

8/27/2007 11:16pm HST

8/27/2007 11:30pm HST

8/27/2007 11:45pm HST

08/27/2007 11:53pm HST

08/28/2007 12:15am HST This one is a bit blurry as it was taken with a 30 second exposure.

Life is never dull here on the Big Island and offers many opportunities and special moments! Aloha!

Happy New Year to all! As we begin the year filled with hopes and resolutions, I wish all of you peace, happiness, and good health. Life is precious and all too fragile; savor the moments…

Market News

As the Kona real estate market enters its high season, we are all getting questions on what will happen this year. I have fired up my new flat screen crystal ball and can say with certainty that nothing is certain! Apparently the new models aren’t any better at predicting the future than the old round kind. What I can say is that we are seeing an increased number of calls inquiring about listed properties, the inventory has grown dramatically over the last year, and the market is much more favorable to buyers than that of a year ago, while interest rates remain low. Sellers are offering greater concessions on price and many are including incentives, such as credits toward closing expenses. It is a much more balanced market now, and it is a great time to look for that second home or retirement property. Many who are not ready to retire are purchasing properties with the intention to rent them out in order to offset expense until that magical day comes when they are ready to fly off into the sunset and start the rest of their lives in this beautiful, tropical oasis.

Sales figures comparing 2005 and 2006 indicate that while the number of sales for the entire Big Island of Hawaii are down by 26% for single family homes and 39% for condos, the median sale prices of single family homes has risen by 8.18% and the median prices of condos has risen by 16.91%. While sales numbers for 2006 are off a similar amount in the North Kona district, the gains have been more modest at 3.43% for homes and 3.85% for condos due to the higher increases for that region as compared to the entire island in the previous years.

New York Times Features the Big Island!

I was recently contacted by Vivian Marino of the the New York Times to discuss the market for second homes here in the Kona area. We had a nice chat, and it reinforced what I have observed over the last few years. Many people are looking for a place to retire that is away from the hustle of the cities. Most people will continue to work in some other capacity if they can do it via the internet or within another field. There is a notion of getting back to a more basic lifestyle, downsizing homes, having easy maintenance landscapes, more time for family, travel, adventure, new interests, and in enjoying life in general. People want an environment where they can be outdoors year round. While the Big Island is not for everyone, it has great appeal for many, and we feel it will continue to be a second home and retirement destination of choice for many years to come.

For a look at the article published January 12, 2007 in the Escapes section of the New York Times, click on:

http://www.nytimes.com/2007/01/12/realestate/greathomes/12havens.html?ex=1169182800&en=72a56bec491ae85e&ei=5070&emc=eta1

Under the Sea!

Yellow Trumpet Fish

Striped Butterfly Fish

Yellow Tang

Raccoon Butterfly Fish

By now I am certain that everyone has heard that we had a significant earthquake here 4 days ago. While the actual event was very dramatic and quite terrifying, we have come out of it fairly well. Most homes suffered only minor damage, and although some of our treasured possessions were lost or damaged, there were no serious injuries or deaths. Homes and condos at lower elevations seemed to fare quite well. I visited a couple of condos that only had a picture or two that were crooked. Homes farther up the mountain exhibited more evidence that a major event had occurred and will require some repair of cracks in the plaster, damaged rock walls, and broken windows and mirrors, but overall, we are doing very well. All stores and restaurants are open and it’s business as usual. We all now have some stories to tell, and the major topic of conversation is to recount where we were and what we were doing when it hit. It has certainly reminded us all of nature’s power.

Manta Rays!

David and I have continued to dive almost every weekend and we have now earned our Advanced Open Water Diving Certificates. I believe the highlight of our diving so far has been the Manta Ray night dive, which is rated as one of the ten best in the world. The dive location is just off shore near the airport at Garden Eel Cove. Large lights are set up on the ocean floor at a depth of about 40 feet and are turned on as twilight falls. Once it is fully dark, the divers enter the water and sit on the bottom in a circle around the lights, much like you’d sit around a campfire. While we each hold lights and shine them upward, snorkelers on the surface hold lights pointing downward to create a large column of light. As plankton rolls in response to the light, the Manta Rays begin to follow in search of a hearty plankton meal.

On the night of our dive, 11 giant mantas with wingspans up to 18 feet appeared and began to swoop over our heads with their mouths wide open. It was an incredibly beautiful ballet and a surreal experience. After observing the mantas for an extended period, we swam off to look for eels and other marine life that prefer the nighttime environment to hunt. It was fascinating to watch their behavior. When it was time to return to the boat, we surfaced to a dark sky spread thick with brilliant stars and the Milky Way blazing its trail across the sky. The experience was one of those magical moments in life that I am very glad to have experienced.

We did not take pictures on our night dive, but David took these on an afternoon dive earlier this week when we were visited by another Manta Ray cruising by. This one had been injured by fishing line about a month ago, but seems to be doing well now. Note the notch in the Manta’s right “wing”, or pectoral fin, and the left sided damage to the horn. Mantas are very gentle creatures, in spite of their size, which can range up to a 25 feet wingspan.

After an eventful summer, we are settling down to the “fall” routine here in Kona. The kids are back in school, the summer tourists have departed and the Ironman participants and their support teams are beginning to arrive and fill the streets as they train for next month’s event. Coffee cherry is being picked, and signs have sprung up advertising the current rate that processors are paying for cherry.

The Kuakini Highway project between Hualalai and Palani is being readied for the initial paving, much to everyone’s joy. The traffic gridlock will be eased and we will once again be able to venture out for lunch instead of cowering meekly in our offices in order to avoid the congestion.

Big Island Real Estate Market News

We are continuing to experience a slowing of the price increases we have experienced over the last 3 years, but the market remains very active. As prices in and around Kona have reached averages above the 600K mark, greater interest in the outlying subdivisions such as Waikoloa Village, Kona Paradise, Milolii, and Hawaiian Ocean View Estates is spurring price increases in those areas.

We do not foresee interest in obtaining Big Island property for investment or retirement abating in the near future. We truly have something very special here.

Summer Pictures – Time Marches On

With our family gathered for the first time in over a year, we celebrated our daughter’s graduation and met our oldest son’s sweetie. Now all are back to their lives and our daughter has officially left the nest… a very special summer that was full of endings and new beginnings.

Our Boys at the Green Sand Beach

Our Happy Graduate

“Bruce” the Baby Shark – Not a Member of the Family!

Summer is almost over; the kids are all back in school and the tourist season has reached its slowest point of the year. Whereas on the Mainland, we dreaded the coming of yet another drab, gray winter, we find here that we look forward to the change of seasons. Each has its own charms and there is always something to eagerly anticipate. At the moment, we are looking forward to our first coffee picking and a new batch of our own fresh Kona coffee. It is lovely to wake up to a freshly brewed pot each morning and sip it as we gaze out over the rows of coffee trees to the ocean below. Then it is off to work and another busy day, but that morning interlude provides perspective and reminds us of the joys of living in such a beautiful place.

Big Island Real Estate Market News

The real estate market here in West Hawaii has slowed over the last several months, just as it has in most other areas. We have a larger number of homes remaining on the market for longer periods, and the surefire double digit percentage increases in home values is a thing of the past. Research shows that while the volume of sales is down significantly in the North Kona district for 2006 as compared with 2005 (24.15% for residential, 21.88% for vacant land, and 41.21% for condos), the median sales prices have actually increased somewhat for residential properties and condos, and significantly for vacant land. (6.18% for homes, 13.33% for condos, and 35.04% for vacant land)

How does this translate for Buyers? It is an opportune time to look for values in the market as Sellers are willing to negotiate more favorable contracts in order to be competitive and the interest rates are still relatively low. Mortgage brokers are also working to put together attractive packages for buyers. If you are thinking about investing in the Hawaii market, give me a call to discuss your needs and I will be happy to answer your questions.

Jacks Diving Locker

The old dog is learning new tricks! The old dog being me, and the new trick being scuba diving. We have finally taken the plunge, both figuratively and literally to earn our PADI Open Water Scuba certification this summer through Jack’s Diving Locker, one of the preeminent dive shops in the world. It was a little (a lot) scary at first to jump in and feel the water close over my head. I do enjoy breathing and tend to get agitated when I feel I can’t get enough air, even on dry land, so I immediately surfaced with a wild look on my face. But my instructor was very patient and the next time down pulled out his slate and began to play Tic-Tac-Toe with me in order to help me relax. He even let me win, and by the end of the game I felt better. Still, it took a couple more pool sessions for me to feel okay with jumping in the water with so much weight on my back that my knees buckle.

Then it was off to the ocean for the real thing. Again, it took a few minutes of sitting on the bottom 18 feet down to calm down and remember to breathe slowly. It didn’t help that I had watched “Shark Week” just a few days before! That urge to surface was hard to deny, but I did it!! After everyone was comfortable, we set off on our first open water swim guided along by our instructor. It was fascinating. The underwater world is absolutely beautiful, and I found as we swam along that I was very comfortable and it didn’t matter whether we were at 10 feet or 45 feet. Once you are down there, things quiet down and you feel the excitement of seeing a new world. On our second dive we spotted a large sea turtle taking a Sunday siesta on the sandy bottom as well as numerous colorful fish and various types of coral. The third and fourth dives were boat dives, and for those we visited Manta Ray Bay, just outside Honokohau Harbor’s entrance, and Garden Eel Cove, just off the coast near the airport. We saw several varieties of eels, including Garden Eels, which live in the sand at about a 60 foot depth, and two large Yellow Margin Eels. We also saw the rare Harlequin Shrimp in the only spot they are known to exist around the island. No sharks put in an appearance, but I am told they occasionally do and that is a “highlight” of diving. Right now, I am very content to see nice little yellow fish…

For more information on recreational diving here in the Kona area, please visit the website for Jack’s diving Locker at:

http://www.jacksdivinglocker.com/welcome.htm

The last year has been full of bittersweet moments for many of us. Our family has certainly had its share of those as well. We lost my dad in December, but found that we will be gaining a new daughter-in-law this coming November. Life changes for each of us and allows us to reflect and choose new paths and new adventures while remembering the old with joy and tears. After Daddy died, my mother, who hadn’t flown in 50 years, came home with me and is discovering the beauty of Hawaii and its healing power. She loves Buns in the Sun’s sandwiches and is Fabric Warehouse’s best customer, I believe. Teshima’s is her favorite breakfast spot and she loves Costco!! We introduced her to the whales and she even ventured forth in a boat to see them up close. Wonders never cease!

My sister and my mom on the whale watch. My sister is being bad! Poor Mama has no idea she’s developed antennae!

Big Island Real Estate Market News

The real estate market here in West Hawaii has undergone a definite change since the fall. We are seeing a growing number of homes remaining on the market for longer periods. Buyers are able to negotiate more favorable agreements with Sellers, and Sellers are having to look more realistically at their prices and their needs. They are often discovering that they have more flexibility in their pricing than they first thought. In a market that has been dominated by Sellers in the past few years, this is a refreshing change for Buyers.

How does this translate into pricing? Well, we are not seeing a big change overall in the selling prices, just a leveling. No more double digit appreciation. We believe that this will continue to be the case for the near future. Prices have leveled off, the market is more balanced and, depending on Seller motivation, contracts are becoming much more favorable to the Buyer.

Big Island Weather

For those of you who believe that the weather in Hawaii never changes, I beg to differ! The last few weeks have been dominated by a persistent weather pattern that has brought wind, rain, hail, and snow to the islands. While the Big Island has not borne the brunt of these storms, we have been cloudy and soggy and cool. Kauai and Oahu have suffered large amounts of damage from flooding. The storms have cleared the air, however, so between storms we have had a few brilliantly clear days with the other islands very visible from the Kohala Coast. That is a treat for us!

Big Island Development

There are several new developments that have sprung up in the last year. Lokahi Makai is well along with the first phases sold out and homes occupied by happy owners. This development is an area of single family homes just south of Kona Palisades on the lower part of Kaiminani Drive. They are all in the 1200 to 1600 square foot range and have many energy efficient features. Some have ocean views and all have steel construction. They are currently selling in the 600’s, with a few listed at 700+.

The next phase of Kona Vistas is now opening up. Infrastructure for the area is well underway and lot sales have begun. The lots are starting at 395K for 15,000 square foot properties with tremendous ocean views and rock retaining walls. With the completion of the current phase and as the last phase is released, Lako, the long awaited connector between the Queen K and the upper reaches of Hualalai Road may actually open!

Na Hale O Keauhou, a condominium complex of 2 and 3 bedroom units, each with its own 1 car garage, is in the final states of completion on Alii Drive just makai of the Keauhou Shopping Center. These units have nice ocean views and are selling in the 800-995K range, depending on size and furnishings. Vacation rentals of no less than 7 nights are allowed at this gated complex, which includes a lovely pool area, BBQ facilities, a gathering room, and a well-equipped work out room.

Hualalai Village, another condominium complex that has been in the works for the next phase for a while is now being released for sales. Units come in 6 different floor plans of from 1-4 bedrooms. The complex is conveniently located on Hualalai Road east of the Nani Kailua intersection. Units have nice ocean views overlooking Kailua to the bay. For more information on these units, visit http://www.hualalaivillage.net/ or call me at (808) 987-7273.

Alii Heights Mauka is an area of upscale homes that has been built mauka of Alii Heights. These homes all have nicely designed floor plans that offer versatility for a family or options for home offices and the like for others. They all have at least a 15K square foot lot and a 3 car garage. Many have stunning ocean views. These are just now coming up for resale as construction is completed. This subdivision features sidewalks and a nicely landscaped feel without the Homeowner’s Association dues that often accompany homes of this caliber.

For more information on these areas, or any others between Kona Paradise and North Kohala, please drop me a note or simply give me a call at (808) 987-7273. I’ll be happy to send you further information.

Big Island Real Estate Market News

Home sales on the Big Island have slowed a bit from last year’s pace, but home prices have continued to climb, albeit more slowly than in recent months. In a comparison of units sold from April 2004 to April 2005, we have seen a decrease of 8.62% in the number of single family homes sold, but an increase of 7.81% in the average selling price for the North Kona district. Condo sales for the same period also fell by 9.84%,but average prices increased by a huge 60.17% in North Kona.

Aloha and Happy Spring to all, and to my friends “Down Under”, Happy Fall! We are starting to notice warmer days here in Kona, and the plumeria is once again beginning to bloom, creating that wonderful scent in the air.

Last weekend we had the opportunity to take a Whale Watching cruise with the Kona Outdoor Circle. It was a perfect day to be out on the water! Even though we did not see a plethora of whales, we did see a few, and the cruise south from the Kona Pier with the gentle music of John Keawe in the background was very relaxing. As the coastal scenery drifted by and we sipped our Mai Tais, we couldn’t help thinking how wonderful it is to be able to spend a weekend in just such a fashion without leaving home. There are always opportunities for entertainment here, and while the cruise required a donation of $60.00 apiece, many activities are free. Just watch the paper or check the KonaWeb Activities page for ideas. You’ll be pleased with the range of choices and hard pressed to fit everything you want to do into a mere weekend.

Our other social activity last week was to attend the Aloha Theatre’s performance of “The Sound of Music”. One of our friends had a part as a nun and her son played a soldier, so our group enjoyed dinner at the Aloha Angel Cafe and then attended the show. It was excellent! We are always amazed by the talent of the actors here in Kona. Many have been on stage in other areas of the world, and some, like our friend, are brand new to acting. The children in this production ranged in age from 7 on up and were terrific. I highly recommend the Aloha Theatre for an enjoyable evening out.