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LUVA Real Estate Blog

As visitors were coming to escape the cold from the mainland in January, they were also here in droves buying homes, too. LUVA Real Estate agents were markedly busier this January compared to last year and the statistics show the increased activity and interest in homes in West Hawaii.

Home Sales 

Single family home sales were cooking in January, as the number of sales increased 35% year over year in North Kona and 150% in South Kohala, according to sales statistics from Hawaii Information Service for January 2020. Homes sales in North Kona rose from 34 homes sold in 2019 to 46 in 2020 and in South Kohala from 12 to 30. Condominium sales fell 12% in Kona year over year and rose 8.3% in South Kohala. Islandwide, residential homes sales rose 44.5%

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Total sales were on the rise in January 2020 on Oahu, with combined condominium and single-family home sales rose 12.6%. Single family home sales were up by 7.7% and condominium sales up by 16.3%. 

Looking closer at the 265 single family homes that sold last month, median sales price was $770,000 which is a slight increase over January 2019 by 0.3%. According to the Honolulu Board of Realtors, about 41% of these sales were between $600,000-$799,999 price range. In the Oahu condo market, the 379 sales in January 2020 had a median sales price of $429,000, a 7.5% price increase when compared to January 2019. The Honolulu Board of Realtors reported that the “most substantial portion of condominium sales occurred in the $300,000 - $499,999 price range,

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We are a group of adventurers, dog lovers, surfers, activists, Netflix bingers, paddlers, caffeine addicts, parents, partners…the list could go on and on! One thing that we all have in common is, of course, our love for Real Estate. Every agent’s perspective and experience makes our LUVA Real Estate team who we are and we want to share with you our stories with our Agent Spotlight.

Sara joined LUVA Real Estate in 2014 and after working for three years as a transaction manager, office trainer, and salesperson, became a Broker in 2018 and is now the Broker-in-Charge for LUVA . Before entering into the real estate industry, Sara has past experiences in a multitude of venues including business, medical management and owned a clothing boutique. However,

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Between the humpback whales visiting our coastal waters from Kona to Kohala, the blooms of plumeria and cherry blossoms appearing, and “snowbirds” enjoying balmy days, February is a great time to be in Kailua Kona. LUVA Real Estate agents encourage you to get out and enjoy the many festivals and activities on tap for this month!

WHAT: ANNUAL WAIMEA CHERRY BLOSSOM HERITAGE FESTIVAL

WHEN: February 1, 2020 from 9am-3pm at different venues around Waimea

WHERE: Waimea The festival showcases the 60+ year old cherry trees planted at Church Row Park and the Japanese tradition of viewing them - hanami. The festival includes a variety of activities during the day at venues throughout Waimea - look for pink banners identifying site locations from the Parker

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You have a goal of moving to Hawaii and you want to bring your best friends, your dogs, to enjoy your life in paradise with you. You envision long walks on the beach while your pups cavort around while you throw balls into the surf for them to catch. Sounds idyllic, right? LUVA Real Estate agents receive calls almost daily from people wanting to move to West Hawaii and want their dogs to come, too.

Let’s take a look at three of the aspects of bringing dogs to the island successfully that you need to be aware of.

1. The quarantine process of getting rabies shots for your pets, combined with air fare, shipping crates, and a vet meeting you on the tarmac to clear the animal through the process can cost over $1000. The process can take up to five

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 As we head into an exciting new year, LUVA Real Estate wants to keep you abreast of some of the local changes we have seen recently around town. From new construction, to new stores and restaurants opening and the closing of others. Kona is an area in flux and change, although seemingly slow here, is a constant.

Here are a few of the latest changes in Kona: The Sports Authority, which closed its doors a few years ago in the Kona Commons, is splitting the 40,000 square foot building into three commercial spaces. They are tearing the facade of the building down to remove the large Sports Authority sign and are in the process of sectioning the building to bring in an Old Navy. There has not been solid confirmation on the second and third tenants.

Pier

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 With the new year and new decade, we are looking forward to another year of steady growth on Oahu! The LUVA Real Estate team on Oahu has remained busy over the holiday season, Broker Kimi Correa stating that “buyers are active, there are multiple choices for them so they have the convenience of taking some time in the decision making process before jumping in and making an offer on a property.” Also, with the Blue Water Navy Act kicking in this month, she feels it will help push some VA buyers further along the home buying process who have been holding off on making purchases.” Read more about the impacts that the Blue Water Navy Vietnam Veterans Act will have on VA loans here. 

 

December 2019 Sales Statistics 
The single-family home market on

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LUVA Real Estate has seen a recent flurry of activity as potential buyers show intense interest in homes that are coming onto the market now that the high season for West Hawaii real estate is in full swing. The amount of interest versus the amount of homes for sale has had an impact on the housing market.

According to data from the Hawaii Information Service from December 2019, the North Kona residential market shows inventory is substantially down from a year ago. With limited supply and strong demand, December saw an elevated median price of both single-family homes and condos, but by less than 3% for both.

The median sales price of single family homes has remained stable in the $635,000 price range for almost two years and is now $780,000,

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We are a group of adventurers, dog lovers, surfers, activists, Netflix bingers, paddlers, caffeine addicts, parents, partners…the list could go on and on! One thing that we all have in common is, of course, our love for Real Estate. Every agent’s perspective and experience makes our LUVA Real Estate team who we are and we want to share with you our stories with our Agent Spotlight.

Lance has been a full time Realtor in Kona since 2004 and joined LUVA as one of the very first agents in 2012. Kimi Nagatoshi joined the firm three years later in 2015. Lance & Kimi are well known throughout both the realtor and local Big Island community. From their involvement in West Hawaii Association of Realtors, the Big Island Chocolate Festival, and the Big Island

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LUVA Real Estate agents are busily sending their friends and family on the mainland greetings of “Mele Kalikimaka” and “Hauʻoli makahiki hou”. In response, many of them receive varying responses such as, “Oh, you are so lucky to live in Hawaii!” and “Another day of snow today, how’s the beach?” and a few, “Can I get anymore jealous of you?”

Yes, it IS hard to feel sorry for our friends and family who are dealing with winter, the lack of an ocean view, no swaying palm trees in the gentle air, the sight of humpback whales spouting in the distance. So, here are five reasons 2020 may be your year to finally join us and buy a home in West Hawaii.

  1. Your winter clothes are getting older and instead of replacing them, just throw them out. Forever! Yes,
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