Big Island Real Estate Updates | February 2023 - Discover The Big Island of Hawaii Real Estate| Travel to Hawaii

Aloha from Paradise! 🌴

No matter the interest rates, buyers are eagerly entering the housing market. Open houses are seeing an influx of visitors and realtors report that sellers have increasingly been having to choose between multiple competing offers! Even with recent market movements, it’s clear that the real estate market here on the big island of Hawaii is far from slowing down as home-buying activity continues to remain strong.

This month, I had buyers who submitted competing offers where the seller chose highest and best. There are some homes that are sitting longer due to how high they have entered the market, but in essence, if the property is priced right and is presented turnkey… it will sell!

I would love to be of service if you need assistance with buying or selling. As always – I am here to help ❤️

# of Sales on The Big Island of Hawaii – February 2023

110

Residential

98

Vacant Land

43

Condos

News and Economy

February Updates

Hawaii News

A key Senate committee gave preliminary approval Thursday to a measure that would impose a new tax on Hawaii’s wealthiest residents in what one senator described as an effort to reduce income inequality. This year’s version is Senate Bill 925, which would levy “a tax on the activity of sustaining excessive accumulations of wealth by every qualified taxpayer.” It would impose a tax of 1% of net worth per year on taxpayers with assets of more than $20 million in assets in Hawaii.

Schools in Hawaii

A recently introduced bill in the Legislature would make Native Hawaiian language classes a required course in Hawaii public schools for grades elementary through high school, just as English is a required course.

Local Issues

The state said homelessness continues to be one of Hawaii’s most challenging social problems. As resources for human services continue to be limited, a push at the Legislature aims to return out-of-state houseless individuals back to their homes.

State Rep. John Mizuno is calling it the [“return to home” pilot program]. The bill requires the State Department of Human Services to create a three year pilot program to help out-of-state houseless individuals return to their home state.

Island News

Bed bug infestations in the islands are a problem more common than you think. Now, a lawmaker wants to make it illegal for a landlord to rent a property known to have the pests.

Waikoloa

Long-awaited public library for Waikōloa is one step closer to becoming a reality. We are so much looking forward to this update!

Environment

The state is about $1 billion short of the funds needed to convert more than 80,000 cesspools into something more environmentally friendly. How would this task be accomplished by 2050? Many are wondering...

Volunteer

In the Hawaiian Islands, 345 volunteers at 42 sites counted humpback whales during the second of three Sanctuary Ocean Counts and Great Whale Counts for 2023.

A total of 997 humpback whales were spotted from the Big Island, Kaua’i, Maui and O’ahu during specific time periods.

Interest Rates

The national average 30-year fixed mortgage APR is 7.04%, according to bankrate.com

News Updates: Kona Community Hospital and Holualoa Elementary

If you live on the west side of Hawaii or are exploring living on the west side of Hawaii, you will become familiar with Kona Community Hospital and Holualoa Elementary. These two facilities are experiencing structural issues and need the help of our government.

If you are looking to get involved so that Holualoa Elementary receives proper funding please email: HolualoaSchoolPTO@gmail.com

Holualoa Elementary

Parents and teachers of Holualoa Elementary have expressed frustration regarding mold, rats and other problems at the school.

Kona Community Hospital

Funding is needed to repair our local hospital. Leadership at Kona Community Hospital is asking the Legislature for nearly $19 million — money to fix utilities that are falling apart.

Kona Playgrounds Foundation

We have super exciting news for the community! We are working on adding picnic tables in Blue Park! We have been working with the county on making sure that we have property placement for the tables and we are looking at materials to build them. We will keep you posted once all is finalized : )

Visit the site

Hawaii Scenery Highlight

Purple Sunset💜

Did you know that we get these magical purple sunsets every now and then?

When they happen, they are so gorgeous! 💜

Business Highlight: UMEKE'S

Have you visited Umekes Restaurant in Kailua Kona? This is one of my favorite restaurants in town! I had the pleasure of speaking with Nakoa Pabre, who is the owner and operator of this amazing restaurant. We talked about how he started the restaurant and what makes him a successful operator in Hawaii. ❤️

”"One day you will wake up and there won’t be any more time to do the things you’ve always wanted. Do it now." - Paulo Coelho
Maly RomeroReal Estate Consultant

Big Island Real Estate Updates | February 2023

Aloha from Paradise! 🌴

# of Sales on The Big Island of Hawaii – February 2023

110

98