Posts Tagged ‘Kolea’

Kolea Vacation Rental Market Update

Monday, April 4th, 2011

2010 was one of the best years the Hawaii tourism industry has recorded in years. With the current economic state, along with the increase in tourism, many vacationers are choosing vacation rentals for their accommodations versus other alternatives, which fares well for Kolea.

The Hawaii Tourism Authority reported an increase in visitors to Hawaii in all four quarters of 2010 versus 2009. The percentage increase grew as the year progressed, leading speculation that there will be continued growth in Hawaii for 2011.

Hawaii Visitors 2009 vs 2010

Looking at the vacation rental industry in Hawaii it appears the industry enjoyed the growth of Hawaii tourism plus more. Instant Software, the most widely used vacation rental reservation software nationally, reported a substantial increase in vacation rental reservations in 2010 versus 2009 in Hawaii. While Hawaii tourism grew close to 10% in 2010, the vacation rental occupancy grew 20% in 2010. This growth could be attributed to the economy, enhanced marketing efforts by vacation rental companies nationally, or Gulf of Mexico issues as well as many other factors. Along with the increased occupancy there was an increase in average daily rate by 5%, which confirms that the increase was not due to “deep discounting” by vacation rental homeowners and agencies.

Kolea achieved better growth than the vacation rental trends depict for Hawaii. Occupancy, average nightly rate, and average length of stay all increased in 2010. Waikoloa Vacation Rental Management, the largest vacation rental management company within Kolea, reported a conversion rate of 88% in 2010. This was a significant increase from 2009. Conversion rate is defined as the percentage of renters who paid the advertised rate. They attribute this to having less dependency on “vacation rental by owner” related marketing sites, which are highly competitive and have very low conversions. Also having a substantial increase in repeat visitors attributed to the higher conversion rate.

Many speculate the growth will continue well into 2011. Group travel to the Big Island of Hawaii is significantly up in the first quarter, which historically has led to higher single or family traveler airline rates during that timeframe. This displacement in the first quarter will lead people to put off their travel until later dates in the year, which would give the Big Island nice growth in the following quarters of 2011. Although the closing of Kona Village due to damage from the tsunami was an unfortunate event, it has affected Kolea in a positive way. With Kona Village being the only all-inclusive resort on the Big Island of Hawaii, the majority of the guests that were scheduled to stay there are choosing vacation rentals as their alternative. Waikoloa Vacation Rental Management was able to arrange for Kona Village to recommend Kolea to their guests as a viable alternative, which not only favored well for them, but also for the Kolea community as a whole. Within a few weeks of the tsunami, Waikoloa Vacation Rental Management was fully reserved at Kolea many weeks leading to substantial overflow for other management companies and homeowners.

Waikoloa Vacation Rental Management reported substantial growth within Kolea for the first quarter of 2011 and currently has more than 500 nights reserved in 2012, which is depicting more great growth for Kolea as a vacation rental community.

Mauna Lani and Waikoloa Vacation Rentals Benefit From Kona Village Closure

Sunday, March 20th, 2011

Due to extensive damage from the Japanese tsunami, Kona Village decided to close for an extended period of time.  This has left many of their customers looking for a place to stay elsewhere on the Big Island of Hawaii.

“We are very sad to close Kona Village Resort for an extended period of time, but the damage to the property from this natural disaster is severe enough to render it inoperable,” said Patrick Fitzgerald, CEO of Hualalai Resort/Kona Village Resort. “We are fortunate that our guests and employees were evacuated safely. Our hearts are heavy with this decision’s impact on employees and loyal guests who have visited us over the years. Our thoughts also are with the people of Japan during this difficult time.”

Kona Village has offered full refunds to all of their guests that were planning to stay in 2011.  Due to the unique nature of Kona Village, many of their guests are repeat visitors every year.  For the first time many of the guests have had to find a new place to stay.  Many of them are looking to Kolea at Waikoloa Beach Resort and Mauna Lani Terrace, which are both beachfront vacation rental communities.  Rob Dalton of Waikoloa Vacation Rentals stated, “Within the last week we received five reservations from guests that were scheduled to stay at Kona Village.  All of them were bummed to not get to stay at Kona Village, but excited to try something new.”

It appears that a fair amount of guests that typically stay at Kona Village prefer vacation rentals to hotels.  Given that most guests of Kona Village come to the Big Island annually, not only will the closure have a positive impact on vacation rentals short term, but also long term as the guests look to return to Hawaii for their annual vacation.

We wish for a speedy recovery for Kona Village and will keep you informed as the repairs begin.

Kolea Beach Club

Friday, February 18th, 2011

The Kolea Beach Club offers Kolea guests and owners a private club on a beachfront setting at Kolea at Waikoloa.  Check out our new video of the Kolea Beach Club.

 

Waikoloa Vacation Rentals Opens Concierge Desk at Kolea

Sunday, December 26th, 2010

This month Waikoloa Vacation Rentals was honored to have the opportunity to open a concierge and beach rentals desk at Kolea at Waikoloa.  The goal is to make Kolea a 5 star community by adding great services to go with the already beautiful villas it has to offer.

Waikoloa Vacation Rentals will be operating out of the Kolea Beach Club pavilion daily and offering a wide range of services along with beach equipment rentals.  Along with the basic concierge services such as booking activities, they will be offering a broader level of concierge service to encompass almost anything one could desire while on vacation.

Their knowledgeable concierges will be able to do things such as set up dining reservations, tee times, boating excursions, along with any other activity you can think of on the Big Island of Hawaii.  How about a private helicopter tour that touches down in a secluded valley for a picnic lunch?  They can do that.

Waikoloa Vacation Rentals is also offering a variety of beach equipment rentals at reduced rated for Kolea guests.  They offer some of the basic items such as quality snorkel gear, beach chairs, and boogie boards.  They are also proud to offer Kolea guests the opportunity to rent our snorkel scooters.  Besides Four Seasons Hualalai they are the only operation on the coast to rent these popular items out.  To Kolea guests they are offered at over 1/2 the rate of what Four Seasons charges their guests.

While this is a broad look at what Waikoloa Vacation Rentals is looking to do from the Kolea Beach Club, the main goal is to help every guest have an enjoyable stay and offer the services that make their vacation at Kolea “A Vacation of a Lifetime”.

** If you are staying at Kolea, the concierge can be reached at (808) 333-1910.

A Look at Kolea Real Estate in 2010

Saturday, November 27th, 2010

While the real estate market across the United States has continued to struggle, Kolea at Waikoloa Beach Resort has seen a steady increase in sales over the course of the last two years.  Along with Kolea being the premiere vacation rental complex at Waikoloa Beach Resort, attractive pricing has made these beautiful villas a “must buy” during this struggling economy.

In 2009 there were six sales.  Most of the sales were either foreclosures, short sales, or villas priced low.  In 2010 there were eleven sales with multiple contracts in escrow at the end of the year.  Although most of them were still short sales and foreclosures, there was a slight increase in the sales price. 

Looking forward, Kolea should contiune to see an increase in interest in sales.  Being the only beachfront vacation rental community at Waikoloa Beach Resort helps make it the most desireable place to own investment property on the Big Island of Hawaii.

Kolea at Waikoloa Beach Resort Market Update

Tuesday, March 30th, 2010

The first quarter of 2010 looks very promising for Kolea at Waikoloa Beach Resort. With vacation rental occupancies up and sales increasing, many believe that the effects of the economy on Kolea are coming to an end.

With twelve vacation rentals in our program, we have one of the largest selections of vacation rentals at Kolea. They have enjoyed an average occupancy of 75% this first quarter. The “front row” of Kolea has really become the most desirable location on the entire coast. Our front row villas had an average occupancy of 90%. Along with these great numbers, we were able to book multiple reservations into other villas at Kolea due to all of ours being occupied. In early April we helped host a wedding party staying at Kolea. Not only did they book all of our villas, but also six others at Kolea.

Going forward, there are almost ten times as many future reservations confirmed this year in comparison to last year. A lot of this is in part to a large convention at the Hilton this summer, which has booked several of our villas, and a family reunion this Christmas, which booked all of our available villas. We also have several repeat guests that have rebooked for next year.

Kolea has led the Waikoloa Beach Resort in sales over the course of the last six months. There have been a total of eight sales and four are currently in escrow. Most of the sales have been on the smaller villas at prices much lower than the purchase price. Currently there are not any villas on the market that are foreclosures and there do not appear to be any short sales at very low prices. The recent sale of 7F for $2.55 million has brought hope that better days are to come for the real estate market at Kolea. If you are interested in discussing real estate at Kolea, contact your real estate agent or one of our recommended agents, Johnny McElree and Beth Robinson. Johnny McElree can be reached at (808) 443-6288 and Beth Robinson can be reached at (808) 443-4588.

We are looking to add more three bedroom/three bath villas to our vacation rental program and would like to discuss our services with you at your convenience. You can reach us at (808) 987-4519 or waikoloavrm@aol.com.

Waikoloa Beach Resort Condo Ratings

Friday, March 12th, 2010

Over the years of running a vacation rental business in the Waikoloa Beach Resort I have come across numerous web sites that rank the vacation rental complexes at Waikoloa Beach Resort.  The thing that seems to amaze me is that most of the companies aren’t even located in Hawaii so I have a hard time understanding why they feel they would be able to correctly rate the properties.

Here are my rankings taking into account what I think along with what guests have mentioned to me over the years.

Kolea
Kolea is by far the most luxurious complex at Waikoloa Beach Resort.  The average selling price of a villa there is almost double that of any other complex at Waikoloa Beach Resort, which supports the fact that they are very nice and in an excellent location.

Pros- Only beachfront vacation rental complex; Spacious lanais with grills; Luxurious interior finishes; Solid construction; Easy access to all the Waikoloa Beach Resort amenities
Cons- Small pool

Halii Kai
Halii Kai is in a middle class of its own.  It is nicer than the other complexes at Waikoloa Beach Resort, but falls short of Kolea. The Halii Kai Ocean Club is the most attractive feature of Halii Kai.  The Ocean Club is on a bluff overlooking the ocean and features a multi-layer heated resort style pool, restaurant, and fitness hale.

Pros- Halii Kai Ocean Club; Spectacular views from the buildings towards the front of the property; Tennis court
Cons- Small Interiors; average construction; distant from the amenities at Waikoloa Beach Resort.

The rest of the vacation rentals all fall within the same class of properties.  Although they they are close in value, there are some that are a little more desireable than others.

Vista Waikoloa
Pros- Centrally located within Waikoloa Beach Resort; Good construction; Large lanais; Heated swimming pool
Cons- Road noise for many of the buildings; Many of the interiors are outdated

The Shores at Waikoloa Beach Resort
Pros- Good construction; Resort style pool; Tennis Court
Cons- Many interiors are outdates

Colony Villas at Waikoloa Beach Resort
Pros- Townhome style so there is no other properties above you; Nice pools; Quiet location
Cons- Distant from the amenities of Waikoloa Beach Resort

Beach Villas at Waikoloa Beach Resort
Pros- Nice interiors; Convenient location to the amenities of Waikoloa Beach Resort
Cons- Poor construction

Waikoloa Beach Resort Fairway Villas
Pros- Nice interiors; Convenient location to the amenities of Waikoloa Beach Resort
Cons- Poor construction; Small pool area

Kolea 15K Guest Comments

Sunday, March 7th, 2010

Kolea 15K offers all the luxuries of Kolea at Waikoloa Beach Resort at a great rate. Enjoy a peaceful garden setting while staying at Kolea 15K.

Kolea vs. Halii Kai

Sunday, January 24th, 2010

Kolea and Halii Kai are the top two vacation rental complexes at the Waikoloa Beach Resort. Both of them are very different and offer a unique experience. Many vacationers who have been to the Waikoloa Beach Resort know which complex is best for them and many people who have not been to the Waikoloa Beach Resort have a hard time deciding which property is best for them. Below is some helpful information about the two complexes.

Location

Kolea is located on A’Bay, the only sandy beach at the Waikoloa Beach Resort. The two hotels and the Waikoloa Kings and Queens Shops are also within ¼ mile of Kolea. Halii Kai is located on the signature hole of the Waikoloa Beach golf course in a more private setting and is roughly a mile from the beach at A’Bay and 1/2 mile from the Waikoloa Kings and Queens Shops..

Views
Both complexes have a wide range of views. The front row condos at Kolea offer ocean, beach, and mountain views. The condos nestled in behind them offer mostly mountain and garden views with a few condos offering ocean views. The condos on the oceanfront at Halii Kai offer spectacular solid ocean views. Other buildings towards the front of Halii Kai offer a view of the signature hole of the Waikoloa Beach Course and the ocean. As you travel away from the front of the property most of the condos have fairway and garden views.

Interiors
The standard finishes within Kolea condos are better than what you will find in a Halii Kai condo. The furnishings within each condo are supplied by the owners so that is not better in one place versus the other. The average condo at Kolea is much larger than the average Halii Kai condo. A Kolea condo ranges in size from 1200 to 2200 square feet and a Halii Kai condo ranges in size from 1000 to 1400 square feet.

Pools
Although both Kolea and Halii Kai have nice pool areas, the Halii Kai Ocean Club is a step above the Kolea Beach Club. The Halii Kai Ocean Club is situated on an oceanfront bluff and features a multi layered resort style pool. You will also find a restaurant, which has a very nice menu, and an open air fitness hale overlooking the ocean. The Kolea Beach Club has access to the beach at A’Bay. In addition to an infinity pool and lava rock Jacuzzi, the Kolea Beach Club has a sand bottom kids pool with a waterfall which is great for toddlers. There is also an open air fitness hale and a shaded lounging area there.

Waikoloa Beach Resort

Saturday, January 9th, 2010

The Kohala Coast on the Big Island of Hawaii has become known as one of the premier vacation destinations in the world.  On this coast you will find the Waikoloa Beach Resort, which has expanded and offers two hotels, over 1000 vacation rentals, shopping, and activities for everyone.  It has recently been rated “The Top Vacation Destination in Hawaii for Families”.

The cornerstone of the Waikoloa Beach Resort is the Hilton Waikoloa.  This expansive hotel spans over 62 acres and consists of four towers and two large resort style pools.  Within the hotel you will find seven dining choices.  KPC is the nicest restaurant and is located on a bluff giving an amazing ambiance.  The Kona Pool is the most popular pool and consists of multiple jacuzzis, a grotto, and a waterslide.  The Kohala Pool is comprised of two pools connected by a “lazy river”.  You will also find a few smaller slides at this pool.  Since the Hilton Waikoloa is not located on the beach, they designed a lagoon area fed by the ocean.  Enjoy water activities and snorkeling here.

The Marriott at Waikoloa Beach Resort is the other hotel and is located on the beach, A’Bay.  You will also find shopping just a short walk from the Marriott.  The Marriott was just recently renovated and features a large infinity pool and with a small slide.

If you choose to stay in a vacation rental, the Waikoloa Beach Resort has the best selection on the Big Island.  From vacation rentals as low as $100/night to luxurious beachfront rentals as high as $600/night, there is a vacation rental for everyone.  Kolea is the most luxurious destination with some of its beachfront vacation rentals spanning over 2000 square feet and just minutes from the beach.  Halii Kai offers the best views and has the nicest pool area of any vacation rental complex on the coast.

Within the Waikoloa Beach Resort is the Kings Shops and Queens Shops.  You will find dining as well as an array of boutique stores here.  The Queens Shops has a Marketplace where you can do all your grocery shopping as well as get great local food.

There is a shack at the beach, A’Bay, which has beach toy rentals as well as snorkel gear.  The Hilton Waikoloa is home to DolphinQuest, which is another popular activity for children.  Here dolphins are raised and it gives you an opportunity to get to know them better as well as have close encounters.  If you are a golfer, the Waikoloa Kings and Beach courses offer a challenging game amongst a beautiful setting.

Please contact Waikoloa Vacation Rentals at WaikoloaVRM@aol.com or (808) 987-4519 if you have any questions about the Waikoloa Beach Resort.