Hawai'i's Hual'lai Resort Reports $134 Million in Residential Real Estate Sales for First Three Quarters of 2013
Hual'lai Resort, the award-winning residential resort community on the North Kona Kohala Coast of Hawai`i Island and home to Four Seasons Resort Hual?lai, today reported residential real estate sales of $134 million for the first nine months of 2013, exceeding by 20 percent the resort's total-year sales in 2012. During this period, Hual?lai recorded the second highest number of year-to-date transactions in its history and surpassed a milestone of $2 billion in total real estate sold since the resort's 1996 opening. 2013 marks the 14th consecutive year that real estate sales at Hual?lai have exceeded $100 million.
"Hual?lai real estate sales have continued at a record-breaking pace as the global economy has begun to stabilize," said Pat Fitzgerald, Chief Executive Officer, Hual?lai Resort. "What makes our year-to-date sales even more remarkable is the small size of our community. We attribute this continued strong interest to Hual?lai's established reputation, the fact that we have been consistent in our vision and have continued to invest in the resort. We believe that no resort community anywhere rivals Hual?lai, and these successful real estate sales tell us that our audience agrees."
In the first three quarters of 2013, the average sale price of a single-family residence at Hual?lai was $7.7 million. The majority of buyers were from the West Coast, and new buyers came from Colorado, New York, Arizona and Australia. More than one third of the buyers were current Hual?lai owners who purchased a larger or additional home at the resort.
"We are seeing more examples of residents 'buying up' at Hual?lai," said Rob Kildow, Director of Residential Sales at Hual?lai Realty. "Of our nearly 300 members, more than 100 have purchased a second residence here, exemplifying their confidence in Hual?lai. Robust sales have impacted our inventory levels, but we are encouraged by significant developer interest in several parcels and the potential for new inventory in 2014 and beyond to meet the continued strong demand for residences at Hual?lai. We expect to announce plans for two new projects within the next several weeks."
Complementing Hual?lai's real estate results is the success of Four Seasons Resort Hual?lai, which has enjoyed occupancies consistent with pre-recession levels while maintaining its position as Hawai`i's leading resort. The resort's latest accolades include being ranked the No. 1 Hotel in the World in the 2013 TripAdvisor Travelers' Choice Awards, the No. 1 Resort in Hawaii from the Conde Nast Traveler 2013 Readers' Choice Awards and the No. 1 Resort and No. 1 Spa in Hawai`i in the Travel + Leisure 2013 World's Best Awards.