Iokua Residential Services is proud to announce that we have three new Vacation Rental properties at Mauna Kea Beach Resort.
Our Vacation Rental portfolio consists of two luxury homes at Mauna Kea, Fairway South and one luxury Villa at Wai'ula'ula.
Mauna Kea Resort is a gated community which allows you to experience and access to some of the best beaches in the world, Kauna’oa Beach and Hapuna Beach. Amenities at the resort include two championship quality golf courses, the Mauna Kea Golf Course, designed by Robert Trent Jones Sr., and the Hapuna Prince Golf Course. The Club at Mauna Kea provides tennis courts, Hotel pool and beach service, spa, along with two deluxe fitness centers.
Stay tuned for more information about each luxury vacation rental property.
Luxury Real Estate – Luxury Sales, Vacation Rentals and Residential Services
Iokua Residential Services is a full service Real Estate Brokerage. The State of Hawaii requires that any person engaged in the management or solicitation to manage property, to be a licensed real estate practitioner. If you are a licensed Real Estate person and generating income in the real estate industry, you are required to “hang” your license with a Real Estate Brokerage.
All funds generated in a Real Estate endeavor (whether it be property management, residential services, real estate sales or vacation rental), must be paid through the Trust accounts of the Real Estate Brokerage. This is meant as a protection for the clients, protection against unregulated or unsupervised business practices by licensees who are practicing real estate without the oversight of their Principal Broker or Broker-In-Charge.
On the Kohala Coast there are few Residential Service companies that are fully licensed, with the experience required to engage their customers in every facet of the real estate needs. Iokua Residential Services is one of them.
Please consider Iokua Residential Services for any of your Real Estate needs:
Luxury – Residential Services
Resort and Luxury Sales:
Vacation Rental and Management
Real Estate Consultation services
Amazing Vacation Rental Properties – How to provide the greatest Guest experience possible.
The goal of any owner who chooses to use their property, their home, as a vacation rental is to share their amazing property with the Guests.
Whenever an owner decides to Vacation Rent their home, the 2 most important concepts in creating a successful rental are:
Provide the greatest Guest experience possible.
Operate your rental like a business.
These 2 concepts are the lynchpin of any successful vacation rental. From each concept we find the many constants that create a vacation rental property that creates an experience that Guests want to recreate each and every time that they return, year after year.
Today, I will only focus on the first concept.
Providing the Greatest Guest Experience possible
All vacation rentals are not created equal. As with the Homes themselves, from condo to oceanfront estate, there are costs and sub-categories of vacation rentals. Luxury to budget, within each sub-category and every price structure there are vacation rentals that consistently create the greatest guest experiences possible and those that miss the mark.
The Home must be used by the Owner. Well it doesn’t necessarily have to be used by the Owner, but by and far, the Vacation Rentals which are used by the Owner tend to have that “feel”, that loved in “feel”, that most Guests want.
As Guests, when we Vacation Rent, part of the allure of a rental is the fact that we are gaining access to an opportunity to live in a home that quite possibly, we the Guests may never have the opportunity to experience otherwise.
A home that is lived in or once was lived in, by the Owner, has the little upgrades and amenities that only come with such a use. Rental only properties, tend to have a more sterile feel to them. Not to say that a rental only property cannot be amazing, great strides need to be taken to add that “unique” experience, that one-off experience that a “lived in” home provides.
- Aloha – This is not a hotel, but that doesn’t mean that you cannot provide a level of inclusion which helps to immerse your Guests in the experience that is your vacation rental and the world around it. At the highest end of the luxury vacation rental market, concierge service is a must. Private dinners and Zipline tours, someone must be available to schedule. Private Chefs for a party of 14 – no problem.
At every level of the Vacation Rental spectrum there is an expectation. A standard of care. To create the greatest of guest experiences, look around, what is the standard of care for your properties. Exceed that standard.
$200/night 2-bedroom condo in a complex of 300 2-bedroom rentals can still stand apart by finding ways (within your cost restraints) to provide that Aloha.
A small gift basket upon arrival. Complimentary water for the entire trip. A personal follow up call from your Property Manager the day after arrival… “Just to check-in”.
Anybody can put a lock box on a door and email instructions to the next arriving guest. It is the little things we do that define Aloha, and will define your Guests experience.
Know your Guests expectations and exceed them. Most all Guests expect:
Free - Wifi
Television (in the living room and in the guest rooms)
Appliances (i.e. Toaster, Coffee Maker)
Clean Linens and Towels
Spices and Condiments
Exceed your Guests expectations with:
- Apple TV
Sound system (throughout the house that connects via blue tooth) – If not possible 1 or 2 wireless speakers with Bluetooth.
A Keurig or Nespresso (in addition to a coffee maker, never in lieu of). Also provide a minimum of 10 pods of coffee, with directions on what stores carry such pods.
Extra pillows for the Beds
The best linens possible (within your budget of course) that go on the best mattress possible (within budget).
Many Guests are looking for an experience, the home that provides the little things that a Guest may not have at home are the little things that they will remember forever.
Provide a packet of information
Consistency – If you can create the right experience for your Guests, it will lead to continued repeat customers. A failure of so many Vacation Rentals, to maximize the opportunity and to grow their occupancy, is because of a lack of consistency. Part of the experience is being able to recreate it year-after-year. Systems. Process and procedures. These are the things that must be in place to insure consistency.
This is not an extensive list of all the facets of creating a highly successful Vacation Rental, but a big part of a Vacation Rental is the experience. These concepts will help you create that experience.
How to market. Or rather, how you should market your home for sale.
This is a list of tried and true techniques, actions or processes that can and should be used in the sale of a home. I do not necessarily subscribe to all of these methods for all homes, but there is a value in each. This is not a comprehensive list, but a list nonetheless.
There is only one truth that holds in all sales of real property, no matter where in the world you may be.
THE FAIR MARKET VALUE OF A PROPERTY IS WHAT A WILLING BUYER AND A WILLING SELLER AGREE TO TERMS TO EXCHANGE PROPERTY, WHEN BOTH HAVE REASONABLE KNOWLEDGE OF RELEVANT FACTS.
In no particular order:
Presentation – the property must be shown in the best possible light.
Staging (if necessary)
Know Your Market – who is the person that will buy your home. Hualalai has similar yet distinctly different buyer’s than Mauna Kea.
Have a pricing strategy – have a sale goal or outcome based on price versus time on market.
Too often Seller’s want to get the highest price possible (don’t we all), but never consider their own specific needs and wants (if your Agent hasn’t asked you about your needs and wants then it’s their fault too.). If you want to sell now to buy that new home in the new neighborhood, then you need to price to sell now. If you want to get “your price”, then you will have to patient.
Online Marketing – MLS listing is your best friend, as Brokerages will buy the MLS feed and show on their website, compounding the amount of eyeballs that will see your listing. Take advantage. SEE ITEM 1.
Make a Video then see YouTube (and Facebook)
Use a drone and see the home from a different perspective.
Open House – not for every property, but there is still a time and place for a good old fashioned House Sit.
Have a Premiere Party – a coming out party of sorts for your home.
Put it on Caravan – let other Realtors see the product.
- Price. Did I mention price. A willing Buyer still needs a willing Seller.
12 Month overview of Hawaii Island Real Estate 5-1-2015 to 4-30-2016 and Year-To-Date Comparison of sales month ending 4-30-2016
Lots of numbers. I could reiterate what you see on the charts below, but make of it what you will. The numbers seem to support an overall feeling in the marketplace, specifically for North Kona, South Kohala & South Hilo.
The single family residential market is in a place of balance.
I purposely did not include Puna in this conversation, as there is large number of foreclosures that existing in the marketplace, far more than are currently on market, and will have an effect on the overall market for the foreseeable future.
As mentioned, the market itself is in a place of balance, specifically for the North Kona, South Kohala and South Hilo markets. While North Kona has seen a slight decline in unit transactions YTD, the median sales price has increased. Disregard the volume as the 77.78% change, is more a reflection of larger than usual single transactions, then an overall increase in the market. The 9.21% increase in median price is a better barometer of the current market, taking into account the 5 less transactions, YTD.
9.59 months of inventory, and the slight increase in activity compiled with a significant increase in median sale price, seemingly is putting further pressure on supply. This pressure should push the Months of Inventory under 8.
Similar data sets apply to South Kohala and South Hilo markets, while the former has the same unit activity YTD, the latter is significantly higher. Both markets saw significantly less that a ½% deviation in median sale price and both have under 10 months’ inventory on market.
In these specific markets, there will be opportunities for both Buyers and Sellers. While some may say we are on the tail end of a Buyers’ market, I wouldn’t fully disagree, but there is a clear direction in which we are in or currently moving into a balanced market.
With the highest quality of finishes, the well executed floor plan takes advantage of the ocean and sunrise views. This move in ready home consists of 3 spacious bedrooms, 3 full baths, powder room and recreational room with its own entrance, full bath and wet bar. This beautiful home has a curb appeal and offers privacy and tranquility in a desirable neighborhood.
Some of the features in this home include:
- oversized master bedroom and large walk-in closet with built-in mahogany shelving system
- master bathroom with double sink, bookmatched granite slab walk-in shower with three shower heads, private water closet with lots of space for linen and towel storage
- mahogany cabinets
- travertine floors in kitchen, downstairs living area, lanai and bathrooms
- 3 skylights providing plenty of natural lighting (kitchen, living room, master bath)
- custom mahogany double front door
- powder room
- large covered lanai off of the living room - perfect for outdoor meals and enjoying the ocean and Hilo coast view
- recreational room with wet bar, granite counter tops and full bath
- lots of storage space throughout the house
- rock walls
- hot water heater
- tropical landscaping includes seashore paspalum grass
3 Bedrooms 3.5 Baths plus recreational room
Living area: 2,451 Sqft Lot size: 10,002 Sqft TMK: 3-2-4-16-79 MLS: 293388
Now offered at $599,000
Building a company, a brand, a Family… Is not easy. The Kohala Coast is one of the most scenic, picturesque and visited places in the State of Hawaii. It is a place of leisure, a place to come to rest, to spend time with Family and Friend to just be in the moment.
It is also a highly competitive market for those of us who service and work here. From housekeeping, pool service, maintenance, residential services, property management, vacation rental and sales, there is a demand for all of these services and with any market there are those who are amazing at what they do and there are some who might be lacking in one way or another.
In every facet of our Property Service industry there are good people, great vendors and amazing Clients. No one company can be everything to everybody and we at Iokua are no different. So how does one decide on who their Vacation Rental Company should be? Who should manage your Residential Services?
When it comes to housekeeping, landscaping, maintenance, I think it is a bit easier to sift through the vendor or company that fits you best. The reason is that they produce a tangible product, that upon completion you know, that the work has been done well and that it is completed. The Naupaka filling in nicely in your buffer area, or the orchids blooming at your entrance, new counter tops are set just right, the pillows set just as you like them, etc. With Residential Services and Property Management, it is a “what you don’t see” endeavor.
When you spend only 25% of your year in your home or villa, “what you don’t see” or “what you do not want to see” is deferred maintenance, water pulling in one spot in your yard, a refrigerator door left open, the contents that were not removed spoiled or worse yet, the place just as you left it last time you were here (nobody has been back since). The latter is something that happens more than you think especially since our clientele can be very mobile, spur of the moment, quick visits to paradise.
Our promise as you have seen on our site and in our advertising. “Your Hawaii home, ready for you 365 days a year”. This is a bold statement, and without a solution it is only a promise.
Our solution. Weekly walk-throughs, strong vendor relationships, clear and concise communication with our clients and vendors. Though I think what makes us unique in the industry is that not only do we give you a promise and expectation, we put it in writing. Not only as a guide or promotional item, but as a written agreement to you of how we will fulfill that promise of “Your Hawaii home, ready for you 365 days a year”.
Hello world. The Iokua blog is up and running and it feels good. It has been exactly 8 months since we opened our doors and it has been a whirlwind of excitement.
Masa, Lorena and I are very appreciative of the support and the confidence showed by our friends and clients who have decided put the trust of their homes into our care. We will not disappoint and we will not let you down. Thank you for being a part of the Iokua Family.
Currently we have 11 homes and 2 villas under our care, from Kukio to Mauna Kea. We are just hitting our stride. Now that we have our work in place, we are allowed the time to look at Iokua’s growth over the last 8 months and ask ourselves how we can add further value to your Iokua experience?
One way in which we want to add value is by providing this running journal of the coming and goings on the Kohala Coast. The intent of this journal is to provide you with pertinent information on everything from the Real Estate market to suggestions on how to better care for your home.
I wanted to name the blog “The Wild Adventures of Residential Home Management”, but was summarily outranked and dismissed.
We want this to be a journal that is pertinent, consistent, topical and informative, but most of all we want it to be the place that you come to for a good read.