2020 Waikoloa Real Estate Market Report

Part of what we do as professional real estate and property management professionals in Hawaii is deliver information on market trends and statistics. We know that informed investors make better decisions when it comes to buying, selling, and renting out properties, and we’re here to provide all the data that we gather about the local market and its broader appeal.

Single-Family Home Sales in Waikoloa

Today, we’re focusing on single-family home sales in Waikoloa. As you can see, single-family home sales have increased steadily since the Great Recession of 10 years ago. This is an excellent time to invest in the local market. The Waikoloa area is a desirable location on the west side of the Big Island.

Home prices have recovered to pre-recession prices. If you’ve been holding onto an investment over the last decade, you’ve probably noticed that its value has rebounded nicely. If you’re looking for an investment opportunity, you can expect solid growth going forward.

The unexpected global impact of COVID-19 has slowed sales a bit in recent months. There’s been an enforced lockdown on the island, and visitors have been quarantined upon arrival. While the number of sales may have slowed, the prices are not dropping with the inventory.

Take a look at this graph of Waikoloa single-family home sales:Waikoloa Single-Family Home Sales 1991 - 2020On this following chart, you’ll see the same data graphed as the one above, but you’ll also see the last few years demonstrating a consistent increase in sales prices.Waikoloa Single-Family Home Sales 2016 - 2020

Increase in Sales Since the Great Recession

We’re also taking a look at how the number of sales over a quarterly time frame has increased. On the next graph, you will be able to see that prior to the Recession, sales reached a peak. Since that increase, there’s been a steady climb upwards in the number of homes sold.

The number of sales over a 30-day period can be seen in the second graph, covering the last few years. We have found that those dips in sales typically mirror the high tourist season. When visitors come to the island and explore the possibility of purchasing a home, it takes some time for the data to catch up. Our research shows that once a visiting tourist makes an offer on a property, the sales date will show up two to three months after that offer. The sales date of the property is recorded, rather than the offer date.Waikoloa Single Family Homes Sold Per QuarterWaikoloa Single-Family Homes Sold Per Month

Vacancy and Days on Market

Waikoloa investors are going to be interested in the number of days a property may remain vacant on the market. We can show you the trending data for days on market when it comes to home sales in Waikoloa Village. This should give you a good idea about the speed with which homes are selling. The vacancy period or time on market seems to decrease year after year. The numbers indicate an increase in demand, which is an excellent sign for the strength of the sales market as well as the potential for low vacancy rates once the homes are rented out.Waikoloa Village Single Family Home - Days on MarketWe hope you find this information useful. If you have any questions about what the data means for your specific investment goals, don’t hesitate to contact us at Hawaiian Dream Properties. We’d be happy to share our expertise on Big Island real estate.