Waikoloa, or more commonly called Waikoloa Village, is a somewhat newly developed area located in the South Kohala district of the Big Island.  The Waikoloa Beach Resort makes this area a very popular tourist destination.  Situated about six miles above the shoreline on the northeast coast, Waikoloa is a very friendly town with a very active community and lots of diversity among the residents.  Here, you will find families, transplants to the area, retirees, part-time residents and locals (kama’ainas).  People who live here love the area and enjoy all that this quaint village offers.

Another bonus about living in Waikoloa Village is the climate where you will always find a breeze and balmy temperatures because the town is situated about 1,000 feet above sea level providing an ideal climate all year round.  Additionally, Waikoloa is within a 20- to 30-minute drive of other popular areas of the Big Island like Kona and Waimea as well as the airport making it easy for residents who travel to those areas for work or fun.

In terms of real estate, there are lots of opportunities to own real estate in Waikoloa from vacation properties inside the Waikoloa Beach Resort to other condominium communities and single family homes.   Buyers can expect to pay from the mid- to upper-$100s for fixer-uppers to just under $1 million for homes with amazing views. 

Investment and vacation properties abound inside the Waikoloa Beach Resort.  The Shores at Waikoloa, a gated community located on one of the top golf courses, offers one- and two-bedroom units starting in mid-$200s and going up to the low $500s.  Most of the other communities start in the low- to mid-$300s and climb to the mid-$500s.  Kolea is the only beachfront community that starts at about $400K for a two-bedroom home.  Waikoloa Colony and Fairway Villas are the other two gated communities inside the resort.  The most requested community for vacation rentals is Halii Kai which has two-bedroom homes that start at about $400K.  All of these are excellent investment properties.

Outside the resort, you will find several condominium communities that feature beautiful views and are located near golf courses and other popular destinations in Waikoloa Village.  These communities include Elima Lani Condos, Waikoloa Hills, and  Waikoloa Village and are priced from the low- to mid-$100s to the upper-$200s and low-$300s.  Another community is Waikoloa Fairways which offers units from the mid-$200s to the upper-$300s. 

There are also usually a handful of foreclosures or short sales that start in the low- mid-$200s for single family homes and condominium units outside the resort but will require some work to make them excellent buys for vacation or investment properties.  Inside the resort, foreclosures start in the mid-$300s and climb to the upper $500s.

The median sales price for condominium units and single family homes is about $430K (as of December 1, 2011).  The median number of days on the market is about 171 days for condominium homes and 146 days for single family homes.  Because the population has increased over 50% over the past 10 years, this is a well sought after area making it a good time to sell your home if that is what you are considering.  If you are interested in buying in this area, it is a great place to buy as there is something for every budget. 

If you are thinking about moving to Hawaii or want to invest in vacation property here, make sure to look at Waikoloa Village.  It is such a wonderful place to live with so much to offer in and around the area.