Two new short sale listings at Halii Kai at Waikoloa Beach Resort

In my previous reports this year on Halii Kai condos for sale, the market has been completely dominated by short sale, foreclosure and developer sales.

There is currently one REO (foreclosure) - Halii Kai 4B - still in escrow with at least two more in the pipeline.

There are currently five short sales at Halii Kai with accepted offers being presented to banks for approval, which as of yesterday would have left only four available. Coincidentally, all of them happen to be the groundfloor 3 bed/2 bath outside unit that is usually the most popular floorplan.

However, today we saw the release of two new resale listings at Halii Kai, both of which are short sales with great ocean view locations on the golf course.

Halii Kai 12C is a 2BR/2BA with a solid rental track record in the building that looks across the signature hole of the Waikoloa Golf Course at the ocean, just next to the Ocean Club Amenities. The sellers paid $1.3 million and the current asking price is $549,000! At 58% off, the numbers look excellent for someone who wants a vacation rental property...or just a little resort pied-a-terre for themselves. (Disclosure: this one is a Hawaii Life listing!)

Halii Kai 9H is also on the groundfloor, and is that popular 3 Bed/3 Bath floorplan with a golf and ocean view. Asking price is $725,000, again a short sale so that price is subject to lender approval, and furnishings would be negotiated separately. I remember the furnishings well and this one is a stunner, only lightly rented.

Sunset from new Halii Kai 2 bedroom short sale

Both of these new Halii Kai short sale listings appear to me to be priced at about where the lender's valuation would fall, and therefore have a strong chance of approval. Some of the other short sales available at Halii Kai appear to be sitting on the market as the asking price is above recently sold comparables.

A hui hou,

Beth