Kona Kohala Blog

Another gloriously clear day in Kailua Kona and along the entire Kona Coast from Discovery Harbour to Kohala.  The fire goddess Pele continues to favor us with no volcanic activity from Kilauea which means clear blue skies for the Kona side.

Market prices continue to correct for condos and Single Family Residences (SFR's) with land soon to follow.  Land has been at a premium since so little was available.  Now, those who were building on vacant land have decided it's time to sell the land since the housing market is so slow.  This had brought a lot of lots on the market, some with good pricing.  Now may be the time to consider buying a lot and building.

Fractional Ownership.  This is something new that's taking hold on the mainland in resort markets and is just beginning in Hawaii.  Fractionals may have up to 6 owners, each holding title and using the property for 60 days of the year.  The process, being new, is a bit complicated but will simplify once more title companies and lenders come on board with the idea.

Fractional is different than time share in many ways, perhaps the biggest being that for the time you have use of the property, you can vacation rent it or use it in any way you choose.  Fractional ownership allows you to buy into a luxury or ocean front property for a whole lot less than you may be willing to pay, especially considering that you're only going to be here a short time each year.

aloha