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LUVA Real Estate Blog

A mini-construction boom has hit West Hawaii this year with plenty of new and renovated properties and commercial developments coming online in the next six months to two years. LUVA Real Estate agents are ready to show you new homes in up and coming developments and can give you more information as time goes on about the commercial developments, as well.

 

Let’s start with some of the new commercial developments that are bringing some new businesses to West Hawaii:

 

 

 

BREW

Development also continues at BREW, a 6-acre site that Manini Holdings managing partner Mattson Davis said is envisioned as “Kona’s gathering place.”

BREW spans three lots around Pawai Place and is anchored by the Kona Brewing Co. brewery and pub at the

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Sept Market Update

If you ask local merchants how is the market, they will tell you it has been one heck of a slow summer due to the VOG and eruption that started in May and finally ended in early August. Real estate followed much of that same lead, with buyers pulling back to see what was going to happen with the market.  Now that the eruption has ceased, the blue sky days are magnificent and you can see the sun diamonds sparkling upon the ocean, the buyers are coming back into the market.

Lance Owens, LUVA Real Estate agent and the President of the West Hawaii Association of Realtors said, “Basically the market is making a strong recovery.  Remember that the August numbers reflect month two of the lava flow and considering that July was off by 48 and 46% in terms

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Sept Event Calendar

As we enjoy the clearest skies West Hawaii has had since 2007, LUVA Real Estate is betting that attending ANY event in September is going to be amazing! This month you can run, golf and eat at the Four Seasons Resort and support cancer research, listen to steel guitar and Hawaiian falsetto and enjoy a kapuna hula festival through the Hawaii Island Festival, get your sci-fi/fantasy kicks at HawaiiCon, and finally enjoy the re-opening of Volcanoes National Park! Truly a taste of Hawaii for all the senses!

 

What: Annual Run For Hope Race Weekend

When:  September 7-9, 2018

Where: Four Seasons Resort - Hualalai

 

Run For Hope is a non-competitive 10K Run & 5K Run/Walk event . Proceeds from this event benefit cancer research in Hawai'i.

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HARPTA IncreaseTackling Your West Hawaii Home Energy Expenses With Solar

With energy costs in Hawaii being the most expensive in the nation, looking at the potential cost of your monthly energy bill is as important as considering other large expenses for your home like HOA fees and taxes. While LUVA Real Estate focuses on helping you find the home of your dreams, there are a few companies in West Hawaii that can help you understand the costs of solar so you can control your monthly energy costs.

First some background information:
Solar costs have declined significantly, and are at their lowest point in over 30 years. Solar is now more affordable than ever and advances in technology have improved system quality and design. In 2017, there was more new solar power

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HARPTA IncreaseHARPTA Withholding Tax For Non-Resident Sellers Rises Next Month

When a homeowner who is not a legal resident of the state of Hawaii decides to sell their property, the Hawaii Real Property Tax Act (HARPTA) goes into effect to ensure the state collects taxes it may be due if the property owner had not paid enough general excise or transient taxes while they owned the property. Also, HARPTA was enacted to provide a means for the state to collect capital gains taxes from absentee owners.

New Law Raises Amount of Withholding: Hawaiʻi Revised Statutes §235-68
LUVA Real Estate keeps informed about state and local bills and laws that go into effect that have a financial effect on our clients. We wanted to inform you that the law regarding raising the

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July StatsDuring the three months that the Kīlauea eruption has been going on, people have continued to purchase homes, but not in the force they were out in last year at this time, as some would- be-homeowners took a “wait and see” approach due to the lava activity on the East side of the island.

The housing market in North Kona saw a significant drop in sales volume compared to July 2017, but it only took a 6% price dip. Sales volume dropped 48% for single family homes and 46% for condos in North Kona year over year. The median price for a single-family home in North Kona was $656,000 last year and $616,408 this year. Year to date, the price of single-family homes has risen 10%, but for condos, prices have fallen 13%, according to statistics provided by Hawaii

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Did you know that the first week of August is one of the busiest times outside of the Christmas holidays and IronMan for Kona? One of the big draws is the annual Hawaiian Billfisher Tournament. Also, the vacation surge comes from parents getting that last week of summer fun in before the kids have to return to school. So if you are coming this month, check out the fishing tournament, the Orchid Show, the Mai Tai Festival, the Canoe Races and even a charity bowling tournament!

LUVA Vacation Rentals also starts booking vacation rentals for the busy holiday season during this time, so if you are planning on coming to the island in December, now is the time to get your rental home or condo booked. Go to our booking site to see what is available.

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Luxury homes in West Hawaii cater to a specific crowd of homebuyer and many will view the listing for the first time from the mainland through the MLS. Great photography is essential and homes that photograph well will be the first ones to get that call from a potential buyer. What makes people take a second look at the photos? How the home has been staged. 

 

We asked local staging expert, Valerie Delahaye-Ippolito, owner of Mahalo Hale Staging for her advice, data, and expertise regarding what she thinks helps sell a house quickly with the proper creative help. 

 

Below are before and after photos of a home that Valerie staged in Kailua Kona. (Photographs by Ryan O'Halloran) 

 Before Staging    VS      

Once you make the decision to sell your

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LUVA Real Estate agents talk to MANY people who are considering buying a home in West Hawaii as a retirement home before or after they retire. Did you know that after you reach the age of 60, you can get an $80,000 a year tax exemption on your property taxes and when you reach 70, you can get $100,000?  It pays to be of retirement age in Hawaii, right?

Below is information from the Hawaii Real Property Tax Division website outlining information to assist property owners in the County of Hawai‘i with an explanation of the benefits associated with the filing of a claim for home exemption. The home exemption is deducted from the gross value of your property to arrive at the net taxable value for the property.

The basic home exemption is $40,000. In

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After the eruption began in early May, many people who have been on the fence about buying a home in West Hawaii were waiting to see if housing prices would start to drop. Potential buyers were waiting for the statistics from June to see how the eruption may have affected the market in West Hawaii. Numbers are in from the Hawaii Information Service and what LUVA Real Estate agents are seeing is this, across the island, home sales have dropped less than 2% year over year and year to date, they have dropped 2.59%. Median prices for single-family homes have increased 9.11% year over year and year to date, prices have increased 7.46%. Islandwide, condo prices have increased by 12.95% so far this year.

For North Kona, 52 single family homes sold last June

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