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January 2019

Found 5 blog entries for January 2019.

With so many visitors and snow birds here escaping the cold of the mainland, February is a busy month for fun events! LUVA Real Estate recommends enjoying not only Hawaii’s signature annual events such as the Cherry Blossom Festival, but the whale watching opportunities now available with thousands of visiting Humpback whales along the Kohala Coast. Lots to see and do this month!

What: ASIAN FEST - WAIKOLOA BEACH RESORT

When: February 1, 2019 from 5-8pm.

Where: Queens’ MarketPlace, Waikoloa

Time for Lions and Taiko Drums! Welcome the Year of the Pig at the exciting “Asian Fest” and celebrate with vibrant Lion Dancers and the driving rhythms of drums from around the world. And, make sure you have your lycee (red envelope) ready with

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Photo credit: ABC Cesspool in WaimeaAs LUVA Real Estate wrote in a prior post, a vexing issue faces Hawaii County: 88,000 homes are currently using cesspools, which at one point decades ago, was a useful way to handle sewage without having to build expensive wastewater treatment plants outside of the main cities on the island. However, now with the population growing and scientific findings that the raw sewage can have a negative impact on the environment, it is time to get cesspools converted into septic tanks.

There has been a movement to use point of sale to get sellers to put in septic tanks before they can sell the property, but at the rate of home turnover, it would take decades to solve the problem. The Legislature is examining the creation of a working group within the Department

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It’s January and this is the time of year when pundits make predictions for the year ahead. Well, not being a pundit, but knowing a thing or two about the local housing market and keeping our fingers on the financial markets, LUVA Real Estate would like to share our crystal ball with you.

Buyers Head to the Condo Market

As we mentioned last fall, West Hawaii real estate prices plunged after the eruption, but started to pick up in November and December as buyers on the fence through the summer and early fall saw that the island was not going to sink or tip over and that real estate was still a great investment on Hawaii Island.

However, the single family market in North Kona has been slowing down and in December prices fell year over year 5%. This

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With months of wrangling behind us and the dust now settling, the County of Hawaii has passed Bill 108 and it is now an ordinance, which lays the ground rules going forward for everyone who owns short term vacation rentals on Hawaii Island.

According to the ordinance, “short-term vacation rental” means a dwelling unit of which the owner or operator does not reside on the building site, that has no more than five bedrooms for rent on the building site, and is rented for a period of thirty consecutive days or less.

As a new buyer, you will only have the ability to create a short term vacation rental business if you either (a) buy a property in a resort, hotel, or commercial zone; or (b) buy a property in a neighborhood with residential or agricultural

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The government shutdown that began on December 21 is having a variety of local impacts to the state of Hawaii, which ranks 3rd in the nation for the number of federal jobs it has. But it is not just local federal employees who are being affected by the shutdown, but many people who are in the middle of a real estate transaction to buy or sell a home here in West Hawaii. LUVA Real Estate agents are not currently reporting missed closings, but we wanted to keep you abreast of what the potential impacts may be.

The shutdown includes all non-essential government employees and the many departments they represent. Some of these departments are directly related to the mortgage process. If you are selling a home, your buyer could directly be affected.

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