An Early Review: Waikoloa Village’s Single-Family Home Market in 2023
Waikoloa Village’s single-family home market is holding steady year over year. Compared to last year, total home sales are down slightly in 2023 (83 vs. 92) while median sales prices are up a smidge from $898,500 to $900,000. Most notably, days on the market have doubled in 2023, while an overall lack of inventory (homes for sale) continues to favor sellers and tighten the grip on today’s housing market.
As the year began, many had speculated there would be a significant correction in the overall real estate market partly due to record high mortgage rates, concerns about a recession, and waning buyer confidence. Those with that prediction appear to still be waiting… However, it’s worth noting that buyers regained some market control, as 37% of homes sold had a price reduction while days on the market doubled from 27 days to 58 days, although prices held near record highs.
Recently, mortgage interest rates have been declining, marking five consecutive weeks of decrease. As such, the current real estate market outlook is now favoring an increase in buyers, an increase in sellers who are looking to switch properties, and ultimately more competition, which would result in home prices rising. Much like the stock market, it is impossible to time bottoms and tops, and over the long run Hawaii real estate has proven to be a sound investment.
In reviewing the information provided, it is important to understand that the larger numbers that are commonly reported and in the headlines do not reflect the neighborhood nuances of Waikoloa Village. To help our clients navigate today’s real estate landscape, we’ve provided a few of our favorite breakdowns of Waikoloa Village’s single-family home market. Check em out!
Reporting period (January 1 – November 30)
We just couldn’t wait for the end of the year!
Summary of Waikoloa Village Single-Family Home Sales
| 2022 | 2023 | Change | |
| Total Sales | 92 | 83 | -10% |
| Median Price | $898,500 | $900,000 | 0% |
| Days on Market | 27 | 58 | 115% |
| Sold Above Asking | 44 | 7 | -84% |
| Price Reductions | 17 | 31 | 82% |
| Listings | 109 | 100 | -8% |
Waikoloa Village Home Sales by Neighborhood
| Neighborhood | Total Sales | Median Price | Days on Market | Sold Above Asking | Average Price / Living SqFt |
|---|---|---|---|---|---|
| Kikaha At Wehilani | 3 | $1,050,000 | 63 | – | $585 |
| Kilohana Kai At Waikoloa | 9 | $1,120,000 | 49 | 22% | $672 |
| Kipona Hills Subdivision | 2 | $867,501 | 156 | – | $460 |
| Paniolo Estates | 4 | $687,875 | 64 | – | $514 |
| Pheasant Ridge At Waikoloa | 3 | $695,000 | 96 | – | $614 |
| Sunset Ridge At Waikoloa | 17 | $905,000 | 42 | 12% | $597 |
| Waikoloa Village | 44 | $893,750 | 57 | 7% | $482 |
Waikoloa Village Sales by Bedrooms
| Bedrooms | Total Sales | Median Price | Days on Market | Sold Above Asking | Average Price / Living SqFt |
|---|---|---|---|---|---|
| 2 | 2 | $797,500 | 46 | – | $558 |
| 3 | 64 | $892,500 | 55 | 11% | $565 |
| 4 | 9 | $930,000 | 40 | – | $416 |
| 5 | 5 | $1,030,000 | 111 | – | $402 |
| 6 | 1 | $615,000 | 174 | – | $282 |
Waikoloa Village Sales by Price Range
| Price Range | Total Sales | Days on Market | Sold Above Asking | Average Living Area |
|---|---|---|---|---|
| Less than $600k | 1 | 131 | – | 1,083 |
| $600k-$699k | 14 | 76 | 7% | 1,411 |
| $700k-$799k | 9 | 52 | – | 1,536 |
| $800k-$899k | 15 | 56 | 13% | 1,625 |
| $900k-$999k | 18 | 59 | 6% | 1,827 |
| $1M-$1.099M | 10 | 43 | – | 1,951 |
| $1.1M-$1.199M | 7 | 54 | 29% | 2,082 |
| $1.2M-$1.299M | 3 | 26 | – | 1,266 |
| $1.3M-$1.399M | 3 | 38 | – | 2,237 |
| $1.5+M | 2 | 87 | 50% | 1,841 |
Note: The one property that sold for less than $600k was a REO
Historical Trend of Single-Family Homes in Waikoloa Village
Let us know what you think and if you have any questions, we’d love to provide a more detailed analysis for you.
