Big Island Update – April 2020

It’s very quiet here on the Big Island… like turning left from Mauna Lani Drive onto the Queen K without waiting kind of quiet……

It’s very quiet here on the Big Island… like turning left from Mauna Lani Drive onto the Queen K without waiting kind of quiet…

For those of you who just want the DATA (awwww, we’re soulmates!!!), just skip to the meat right here:

Coronoavirus Hawaii Tourism Stats
Daily Hawaii Coronovirus stats
Current Kohala Coast Resort Sales States (updated 3X per day)

If you are so inclined, some lighter reading follows.

Ever since the mandatory 14 day quarantine was issued by Hawaii’s Governor David Ige in mid March (click here), tourism has pretty much slowed to less than a trickle. The chart below shows 2019 visitor traffic (in pink) against 2020 visitor traffic (in blue). Just as the volcano died down (yes, that wasn’t too long ago….) we were tracking higher than 2019 UNTIL THE BEGINNING OF MARCH. Visitor traffic slowed, backed off, then plummeted. Click here for up to date tourist arrival data

Click image for full data report from Hawaii's Department of Tourism.

As of March 25, 5 hotels remain open on the Big Island (click here). As of April 13, 2020, all vacation rentals on the Big Island have been ordered closed, except if they are accommodating first responders (click for story)

There is also talk of extending this mandatory 14 day quarantine into the future, with stricter enforcement for visitors, some of whom are not adhering to the quarantine requirements (click to read more…)

And why do we care???

In terms of resort real estate, there are basically no buyers are on the Island. We do have some non-resident families sheltering here. I know a few who came in early before the mandatory quarantine and decided to extend their stay. Others came in and (hopefully) completed their mandatory quarantine and decided to stay put.

That said, even for those “potential” buyers who happen to be here, most resorts that have staffed security kiosks are not allowing non-residents entry unless they are essential employees. Mauna Lani and Waikoloa Beach Resort would be exceptions, as they do not have security kiosks that check you upon entry.

Let’s take a look at OFFERS ACCEPTED in 2020 as compared to 2019. As you can see from the chart below, 2020 had more offers in January than 2019. As the coronavirus started to advance, you can see the significant reduction on accepted offers.

**OF NOTE: for 2020, the data shows some ACCEPTED OFFERS that have YET to close. Here are the number of offers accepted that have not closed in 2020:

  • Feb: 3 out of the 16 have yet to close
  • March: 6 out of the 10 have yet to close
  • April : ZERO of the 3 have yet to close.

What does this mean for your investment? We are hoping that buyers who were on the fence, and can still afford to do so, will see the value of having property in a state where our health was prioritized at a very early stage. So far, Hawaii is one of 5 states meeting the federal guidelines required to reopen when we are ready. To tell you the truth, there is a lot of pushback on opening the state to visitors until such time that adequate testing, tracking and quarantine cooperation is possible.

Because of this, along with very early social distancing cooperation, Hawaii has not seen the kinds of high coronavirus numbers that are seen on the mainland. So far so good!!!

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