West Hawaii Real Estate Update-February 2025

Name: West Hawaii Real Estate Update-February 2025
Uploaded: 2025-02-25T01:28:00.757Z
Duration: 46 min 53 s
Channel: Hawaii Property Market
Description: Aloha! In this market update, we break down the latest trends in North Kona’s housing market, covering home prices, sales volume, inventory, and key trends. Whether you're a buyer, seller, or investor, this update will give you the insights you need to make informed real estate decisions.

Hawaii Property Market

5 followers

Feb 25, 2025

Aloha! 🌺 In this market update, we break down the latest trends in North Kona’s housing market, covering home prices, sales volume, inventory, and key trends. Whether you're a buyer, seller, or investor, this update will give you the insights you need to make informed real estate decisions.

Aloha! Hey, it's Julie Zemelis with 365 Hawaii with Real, and I am here with... Lance Owens from Luver Real Estate. There you go. Our broker said it's not real broker, it's real, so it's real. That's the real estate name of the company. So there you go. It's real? It's real. It's not real broker. No, it's real. That's the brand way they want to say it. And we're here with your February update of West Hawaii, because tomorrow actually is Valentine's Day. And your gift for Valentine's Day is Lance and me giving you guys some information about what's going on at the housing market. So I was privy to have some information that he might have sent ahead of time. It'll be interesting to see how you discuss these numbers, because I think there's some telling information in these. But I want to make sure that the information I'm thinking, I'm telling myself. So we... So I had that in case somebody had questions, we could pull it up. But did you see all the price reductions? Uh-huh. Okay, so price reductions, you guys. But... This is the telling story. Ah, there we go. Lance is always going to be the bear on the market, right? Bear is good, right? Yeah, I think so. And then the bull, the bull market. Yeah. So I'm always waiting for that moment where maybe some people can come in and get some deals and you're like, oh no, ho, ho. Okay, so let's see what's going on. All right, we're going to jump into housing, I guess. Is that the one you were looking at? Yeah, so let's talk about single family homes to start with. All right, let's start with single family homes. So we are looking, let's jump at our numbers for median price a year ago versus today. Year ago, today it was 1.3259 was the median home price, okay? Yeah. And today it is 1.275. Okay. So we're $50,000 shyer. Okay, okay. On the median price from what it was a year ago. We know how that can fluctuate. And last month it was like 1.2, 1.2 something. Yeah, but it was over 900 the year prior, right? Yeah, yeah. In 23, so yeah, it's kind of, it's interesting, so. Okay, but first, go ahead. Oh, what am I doing? And let me ask you something. What do you do for a living? I sell real estate. Okay, all right. That's what I do for a living. I sell real estate. Yep, we're not just talking heads on this little podcast thing. We are professionals. We're not just friends. We're not just sitting here having a good time. We actually work for a living. Yes, we do. But today, and if you guys, when you pick up a can from the people in the mainland, see these ridges here? That's right, that's right. So these three ridges, what I've been told, that means that these are actually the ones made in Hawaii. Right here in Kona. Yes, and so if you buy the longboard on the mainland, it's made at a different brewery, and it doesn't have three lines on it. There you go, so support local. It's got their formula, but it's not, I don't think you're going to find it. So, and look, yours probably won't say made in Kona if you are buying it in Hawaii. Oh, that's right. It specifically says that. And he picked these today because they're red to go with Valentine's Day. Valentine's Day red. You know, we're usually sponsored by Ola Brew. People ask me now, seriously ask me on the street, are you guys truly sponsored by Ola Brew? I don't know about it, because we get around. We are not sponsored by anybody. No, the only one sponsoring us is us, and that's why we tell you we sell real estate. Yeah. Okay, so I kind of took a break from the numbers there, so go ahead. Okay, so we're down 50 grand medium price. I wouldn't read anything into that. The big thing is what is the number of homes that sold this January compared to January a year ago? It's up 31%. No way. Right? I was surprised me too. Yeah, it just seems like we're having a kind of a slow market. You know, I usually like catch her off guard, but I was surprised. That was all, but you know what, the last year at this time, I was kind of crying a little bit because there wasn't a lot going on in the market. And it seems like I'm kind of still crying that same song a little bit right now. But the realtor's caravan today had a pretty good amount of homes that are coming on the market. Yeah, well, we have about 10 today. Yeah, yeah, so it's okay. I didn't count them, but oh, I accidentally brought in the caravan schedule. Oh, there you go. So that's good news, you know, the number of homes with the price dropping a little bit. And of course, the numbers are up quite a bit on the active homes. I think it was 118 homes are active right now, which, again, that's not crazy. We're still under what it used to be pre-COVID, but it's up there. It's not like 50 that we do that, right? Yeah, yeah, yeah. So we're not in super tight inventory problem right now. Yeah, so let's take a look. And since we're on homes, let's stick with them. Okay. Excuse me, guys. Here's your big one. Sale from the original price. How much is our sale, our red light special? Three percent. How long has Kmart been closed? Yeah, yeah. You know what the cool thing is? We have an older audience. They understand what the blue light special is. Blue light. I said red light. Thank you, blue light. See, it's been so long, I forgot what it was. They don't do that anymore. Yeah. Yeah, so 3% sale price. So we're 97% of what it originally listed for to what it sold for. Yeah, yeah, yeah. And then we're at 97.9% of what they dropped it to the current price. Okay. And now I was looking at this list that he brought over. It has the homes that recently sold, it has their list price and their sales price. And it matches about that. It's a little under what they've listed the houses for. Yeah. Yeah. So buyers are still going in, negotiating, and getting a little bit of a discount, but not too much. So, well, interesting that we talked about that. Sale to original price, and I don't have that one in front of me, but 170%. What's that number for? That is the highest over the sale price to the original price. Oh, you mean that's like a- 170%. So we're almost double. So is that one that did that, or is that- Well, yeah. Okay. I'm going to go on a limb here without physically looking it up and say, yes, it was one. Yeah, one. Do you get, what do you got here? Do you get homes or- These are homes, right? Yeah, see residential, and then these are condos. Look at one that looks like a big, almost double price. Not that many. I don't see any yet. Yeah. And then another thing I noticed about this is that there's houses that have been on the market for a long time, or some that barely got on the market at all. So it seems like it's, if you get one or the other, either a best-priced home or a- Yeah. You know, or a good home that gets off the market really quickly. Yeah, I don't know. It's a, because a lot of these just, you know, they're just like, you know, 860. Yeah, not a big jump. It's not a big jump. So, and days on our market, median days on market on residential homes is 16, average is 44. So 30 days, you know, if you're on the market 30 days and nothing's happening, you want to reevaluate where you're at once you do it. Yeah. Somebody said, what's wrong with that house? I'm like, the price. Because nine times out of 10, it's the price. It's the price. So, yeah. But still, I mean, the market's moving, you know, I mean, on average, pretty good. On some of these, you guys, some of these homes sat on the market for 178, 139, 308. So like I said, if they're sitting, that's your opportunity to kind of go in and start asking questions. What we do is I bring this up sometimes, is that if you have a house that you see that's been sitting there like that, and you're working with us, we will actually call the other agent and find out what's going on and see if there's room for movement, how motivated the seller is. So that's kind of my favorite question to ask them really is, is, okay, we know what it will sell for, but what won't it sell for? Oh, there you go. Yeah. What's the lowball price you've gotten that we know it won't sell for? Yeah. Yeah. And there's some people who say, you know what the seller is holding firm. Yeah. And then we go, okay, well, when he's ready. No, we'll watch. We'll keep watching. We'll wait for the big price reduction. Yeah. They're going to wake up one day and say, it's time to sell. Yeah. Or there's people also, and I found this out from the national statistics, from my outpost research, that some sellers are saying, if I have to sell my house in a slightly declining market, I don't need to sell it right now. I'm not going to lose money. I'm not going to sell it. Either pull their house off the market, or they just aren't going to put it on. So it's keeping the inventory tight enough not to see price reductions in a way that I think a lot of people are sitting here waiting for. Yeah. Yeah. They keep waiting for that. It's just not there. You know, it's just not happening. Yeah. We need more homes on the market. There's a lot of homes out there that should be on the market. You know, we've got grandma and grandpa, all the kids are gone and moved out of the home. And they're sitting in this big four bedroom home, the two of them, but they can't sell because they probably bought that home 20, 30 years ago. They've got over a million dollars in equity in the thing. They're going to be taxed so hard. And it's just going to kill them. And then, you know, from myself, it would be cheaper to stay in that four bedroom home than it would be to move down. And you know, the second part of that problem is, is there's no move down homes. You know, the same home that the first time buyer wants to buy, grandma and grandpa want to buy. And that is... We're not making a lot of small homes here. No. In fact, if you look around the stock of Kona, maybe because a long time ago, when they built these things that people expected friends and family to visit or something. Because when you think of mostly Palisades and then this entire neighborhood, these are like large houses. Yeah. But you know, Hawaii has a lot of multi-generational. Yeah, that's true too. That's true. Yeah. So people have local families and stuff. Yeah. But we're not getting like... In fact, I saw one. Do you guys want to think about it? It's a 2-1 for $9.68 that has a 1-1 STVR cottage right behind it. So those people are getting $50,000 for that STVR. And the only reason why it's not selling as fast as it could be, is because it doesn't have a second bathroom on the main floor. But it's a small home. It's like 1,300 square feet, two bedroom, one bathroom. What are they called? Design obsolescence. Oh, yeah. Yeah. It was designed in a point in time. I mean, I don't know. When we were kids, we had one bathroom in the house. I know! Three bedroom, one bathroom. You know, we all shared. Luckily, it was three boys. Yeah. Yeah. Yeah. But Eric and I lived in a 2-1 in Las Galas. Yeah. And you do what you have to do, but there's just not a lot of those kinds of houses here. So in that, people were walking into the house saying, I can't believe this house is over a million. And it's not because it doesn't have that extra bathroom. So if you're looking for something like that, we have it down the street from us. And we were actually holding an open house last weekend. Yeah. It's Savannah's listing. Okay. So what about condos? Jump over condos. Speaking of smaller homes, that might be a little bit more easy to get into. Median sale price. Condominiums. This one, this one, this one surprised me. Went up 8%. It went up? Went up 8%. What the heck? Yeah. Right? Are you reading the right statistics? Right? Does it say 2025? I know. What the heck? Okay. The reason why we're so incredulous is that there are a lot of condos. I gotta put on my glasses. Yeah. Just make sure. What? Did I print the wrong year? Nope. That says. Yes. 2021. 25. Yeah. $53,000 increase in the median price of condos. And it was $612,000 a year ago. And it was $665,000 this month, you know, January. Interesting. Interesting. Because we were getting down in the lower fives. Yeah. Yeah. So there may be something quirky there. So there could be the tale of two markets. One is the investment condos. And the other one is the ones like Alihugani. Right? The people who are living in full-time. Those people are lowering their prices because they can't get out. Where the investors are still buying up because they still can make money and pass it on to the consumer. Right? Yes. Yeah. Yeah. Yeah. The investor market is still moving. It's got to be unique though. I'm seeing. It's got to be like Ocean Prime and that type of thing. Yeah. Yeah. And it's there. So it's moving. Yeah. Yeah. You know, there's a whole thing too, which is going to be interesting. There's speculation out there that a lot of these California homeowners that were burned, tragically burned out of their homes. Maybe there's going to be a couple of different things. Some of them that have maybe been coming over here and looking and getting ready to buy. They may be coming over to buy now. It's like, well, am I going to rebuild here? It's going to take five years before there's a grocery store in my neighborhood. Right. Yeah. And so they'll be coming over here. Or there's a people that have been renting out that bought within the last few years. It was going to retire in a few years. And so, you know what? Let's just do it now. So we've got to watch that market closely. Yeah. It's going to happen, especially the ones that were oceanfront and those type of things. You know, the really expensive homes that burned down. They, a lot of them, from what I understand, they're just bailing. They're like, we're done. Yeah. You know, they're not. There's question on whether they're going to allow them to rebuild where they were. Some of these ones were hanging off the side of the highway. Right. And like fight this for the next five years. Right. Right. Right. And so we're expecting some of that market to come in. Well, the thing is that we're going to talk about that, too, that a lot of those people, let's say they were in the entertainment industry or things that have to do with Los Angeles. They would have to be retiring because there's no jobs here. Right. I mean, unless they had enough money to start going back and forth. But it's five and a half hours. So I don't think it's the same target market. But how long it takes to get on the L.A. freeway anyway. So don't go on the thing. But that would be an interesting one to ask our people. So either if you're on Facebook or you do this later on YouTube, put notes down below if you have heard of it, seen it, experienced it about people from Southern California considering buying a house in Big Island because they got burnt out of the fires. Because, like I said, when you've lost your entire neighborhood, it's going to take five or six years. It's like what happened with La Haina. People just say, you know what, I'm not waiting. So we're a year and a half into it and there's nothing. You know, is it true over in La Haina? Yeah, I mean, like one hundred and seventy five little, little, little mini homes. Yeah, but that's not that's just temporary. Yeah, I'm talking about schools and infrastructure, water. They don't even have water back to the parcels. They don't have sewer in there. They're not going to let these homes that were on cesspool go back on cesspool. So really, we're still years away from seeing anything. Yeah. Rebuilding the entire infrastructure of the town. I know there's been a couple of homes that have been built, but I think those were on the outskirts and didn't have, they weren't down in the. Yeah, because you're right. They have to put all that stuff in there first. Yeah, you go in a year and a half in and nothing. Yeah, well, you know, it's interesting when people are talking about the wildfires that they're talking about, oh, it's going to take a couple of years. So I'm like, hmm, it's going to take a lot longer than that. Because we've been watching what's happened with La Haina and there was more homes burnt in Pacific Palisades than there were in La Haina. Yeah, so I'm here between seven and ten thousand. Yeah, yeah. And then you got all the Dina and everything else. So and also it's just it's just getting all the material and the people. Well, that's going to bring the next problem that we're going to deal with here. West Coast is going to be taking up all the lumber and supplies, doors, windows and everything else to rebuild all those homes. So now prices just went up again. Yeah, especially when you can't get them from Canada. I'm sorry, I don't mean to be the bearer of bad news. But it's reality. You know, we were just I was just there last week and we were talking with the California Association of Realtors at their installation and talking to realtors from those areas. And, you know, they were kind of asking us what's going on in Maui. Not much. Yeah. Well, they're doing the best they can. That's what that's what they're saying. Yeah. But and again, it's I get this. The people who lived in La Haina don't mind sitting in cottages waiting for their house, their town to be reborn. Right. Whereas I think people who are living in multimillion dollar homes in Pacific Palisades are not going to sit in FEMA housing. You know, I think it's opposite. I think the people there want their families back. They want their lifestyle back. Yeah. Their home. And because that's all they got. These people, the millionaires in California, they've got other homes. Most of them have another home somewhere else. Unless it was Altadena. A lot of those people were like, you know, poor families. Yeah. But yeah, there's the multimillion dollar ones. Yeah, the people can actually move to Hawaii and go with it. So yeah. All right. Let's look at what's on sale. What was our sale price? Yeah. What's the price here? What's the sale price on condos? And it is quite a bit different. Condos sale to original price is 93%. Okay. And median days on the market, 72. Okay. 100 for the average. So, you know, if you're on there 80 days or something. To be expected. Yeah. Especially like in Leilani. So there we go. Okay. Well, again, there's at least some deep negotiations to be had on some condos. So we've got a guy that's been chasing oceanfront. And there is still a very strong market for that. Like you said, that investment condo class seems to be like that. It's still moving pretty quick and trying to get him in. It's been a thing. I was just looking at. We didn't talk about the number this old compared to last year and condo sales. The number is up 41%. Interesting. Very interesting. There's like 160 condos on the market. Right. And would you believe that maybe people are leaving their condos because of the rising HOA fees across the board investors and also people who are there full time. Yeah. But they're buying more. That's what's interesting. I'm surprised. Maybe investors are coming in with the lower perceived lower pricing. Yeah. If you're buying a condo, let us know why you're buying a condo and what your story is. And we can get some lives like a, you know, what's really going on out there. Eric, are people on the, I mean, on the. Yeah. We got a few. We got, let's see back here. I got Eric Zemelis online. Hey, Eric. Got Dean online. We got Sheila Johnson online and Greg is online. Laura, Lance Bond is on as well. Lance says hello. Hello. I haven't seen Lance in a long time. Yep. Yeah. He needs to come over here and party with us. Yeah. But that's another thing too, that I know that I'm not going to pick out who, of all those people, I know that there's a few people in there that are actively looking for an opportunity, for a good opportunity to show up price-wise. And so, you know, it's just that, is it going to happen? Is it not? So, you know. And that's what my meeting is at 8am in Honolulu tomorrow is about HOAs and what's going on there. So I hope to know more tomorrow. Is the state thinking about maybe doing an emergency fund? You know, I mean, that's been, they've been talking about that for a year now, right? Since the last legislative session and how they're going to deal with things. And the latest thing that I've seen of what they're working on is reenacting the Hawaii Hurricane Relief Fund, right? They've already opened that back up and there's legislation of how they're going to do things and they realize they can't use money from HHRF for the buildings that are uninsurable for the 100% uninsurable. So they're looking at going to HPIA, which is Hawaii Property, HPAI. Hawaii Property Insurance Association or something? Yeah, there you go, HPIA. Thank you. I use these acronyms all the time and I forget and I forget people don't know. But anyways, it's the insurance that people use in Lava Zone too. Oh, yeah. So it's that type of insurance. So the thought process is that these condos, where we're running into problems is the high rises in Honolulu that they've kicked the can down the road. They haven't replaced the pipes and the things that they should have done 10, 15 years ago. They've been warning them, you've got to do something. And now with all the losses around the world, the insurance companies say, we're not going to risk 100%. We're only going to insure you 80% and you're going to self-insure the first 20%. So we're not paying for all these water breaks and all these things. So they're looking and then that snowballs if you're not in this business every day. What that happens is banks don't loan if you don't have 100% insurance. Right. And then you can't sell your condo because no one can unless their cash buyer will come in. And of course, the cash buyer is going to freaking get you on the price on that. And then that's not helping our local housing because it's an investor coming in. Not a single family. Making money. So they want to try to do something about it. So the thought process is that they will use that for the 20% that can't get done. Okay. So it's been a lot of thought going to it. They're working through the process on it now and we will see. But that's not the part of the meeting that I'm going to tomorrow. So we're going to get more about the management companies and things. Oh, that's right. That's the landlord tenant experience. Not even landlord tenant, more so management company and boards, HOA boards and things like that. Oh, like Associa. Yeah, the big company. Buoyano, Associa, there's a bunch of them. I don't want to point out one single one. Yeah. It's actually a meeting to see what we can all do. Together. There we go. To make a difference. Working together. So that's good. Okay. I'm excited. That's good. I hope the meeting goes well. Yeah. Lance is actually being inaugurated, installed, however you want to say it. I know it. I keep messing up. It's Wednesday night. I think so. Yeah. Eric and I are going to go. It's going to be the Association of Realtors President for the Hawaii Association of Realtors. The State Realtors Association. So you guys will get a chance to get kind of even the higher level stuff going on here. And then just so you guys know from Eric and I's point of view is that we're launching a new website. So we're finally getting to interact together and doing a good job in terms of getting good stuff to our people. Go to 365HawaiiRE.com and you're going to be able to search the entire MLS in a platform that looks a lot like Zillow. So it's nice and happy and friendly. And you can look for market statistics, not as good as Lance's, but also schools and walkability. And you can actually, if you're watching this and you have a home that you want to see what the valuation is, get you that information. So good stuff. And it also takes you to all of our videos and it takes you back to my 365 living site. If you want to sign up and be part of the Ohana and you get some free resource materials and you can access this group on Facebook for the people who are on YouTube wondering how can I participate live with us? So it's all there. And then what else you got coming up? You know, that's, that's it. You know, we're again, we're working through cesspool bills again in the state that are trying to move up the years again. We tell everybody that they'll be doing this every session trying to do that. They're trying to bring out some grant money, which is always welcome to entice people to convert over. Problem is, is we're still waiting for the mapping tool that shows where proposed sewer lines are going. Oh, there we go. What's happened in Honolulu already. And we aren't seeing that here because of the fact that we are so rural, so far behind and so slow. We're, we may, okay. Honolulu to us, Honolulu is as fast like the mainland is to us as when you're in Honolulu and the mainland is fast to them. Right. So it's kind of like we, yeah, I'll stop there. Yeah. It's like, it's like New York city versus rural Connecticut. But I do have some new people on the show and people who have been thinking about buying houses on the island and they've heard you talk about the cesspools and now they're already saying, do you think there's a way we can get a seller concession for the cost it's going to take to turn the cesspool into a septic? Are we at that point now? So the current bills that are in front of us here are requiring stuff in priority zone one to be done by 35, by 2035. So that's 10 years off. And then zone two would be 2040. And then zone three and above, I think it only goes to three, is, would be 2050. So currently the current law as it sits today is 2050. The only reason that we are not supporting the bills for the increased dates is once again, because we don't have the mapping tools. And in Honolulu, sorry, because I got sidetracked. Yeah, you did. So, you know, in Honolulu, it's easy. They've got nothing but sand there. When they got to dig a sewer line or something like that, they're digging through 10 feet of sand and they put it in. Here it's 10 feet of jackhammering. Right, for lava. Lava tubes or lava. And so what's happening is, is, and there's such a smaller amount, there's like 8% there where we got 49% here on cesspools. So it's easier for them to actually run a sewer line up a street or down the street, you know, around the corner. And what's happening is there's people that have got the incentive to, to convert over to a septic a few years ago who are now being required to hook into the sewer that's running down the street. And they just paid all that money. So if they put out $10,000 or $20,000 over the pocket, even if they got $10,000 back, and now they're being charged $5,000 to hook to the sewer, and they got to close off the septic that they just tore up the yard. So it's really, they need to do these things in order. They need to do it properly. And I have asked to have a seat at their table on many occasions. And Department of Health has brought me in a couple of times last year. And actually, we did several conversations over the phone talking about how things are working and how we can fix some of the problem. And so they did, but some of the people drafting the bills that are just pure environmentalists that really don't understand how it works. They just know they want it to stop. Right. Because it is leaking into the ocean at some level. Yeah. But we still got to do it right. Yeah. You know, you can't just say, oh, it's leaking. It's got to be done. It's like, no, you got to figure out how to get it done and get it done right. So if they would sit down with people to talk it over with all the stakeholders. Right. Multi-agencies. And so, you know, Hawaii Realtors sold over 10,000 homes last year. So that means we had 20,000 to 25,000 families that we all sat down on the couch and we talked with them and we know what's going on. There's no bigger stakeholder than having Realtors at that table to understand. You know, they think it's, I was in a couple of meetings and a lot of the thoughts, oh, it's the rich people, it's a million dollar home. Medium price of a home on Cesspool is about 500 and something thousand. Yeah. So it's not a rich person's problem. Especially if you're talking about East Hawaii, too. Yeah. And again, it's just like, you know, there's farmland with cesspools and you have so much farmland, you know, it's not just... And also get this, you guys. I found out that one of the neighborhoods that I thought would have hooked into sewer, was it Lakai Makai? I think they're on Septic. Is it true? I think they're on Septic tanks. I think they are on Septic. Yeah. I forget. I think so. And that's like a regular neighborhood. Yeah. And it's like, well, it's built in 05, right? Well, and you think that's like, you know, old enough that you think it's Cesspool. Like our house is on Cesspool because we built back in 1972. Yeah. But you would think... So you guys, we do have a problem here on this island with... Wait, I'm sorry, did you say Cesspool? Yes. They're on Septic. They're Septic. Yeah. But you would think that they would have built a wastewater treatment plant. Yes, exactly. They would have hooked up to a wastewater treatment plant. Yeah. And I, you know, that goes into, I'm sure the developers asked somebody. Oh, yeah. So... Yeah. So a lot of things are being passed where the developer has to have an answer before they come in and do it. And that's part of what a developer needs to do. But what a city needs to do is have a place for them to do it. You know, that the developers should go in and should run the sewer lines and have things set up and should be able to tie into something that the city has for them. Yeah. And that's what we don't have. So there's even talk of some... And I haven't followed these bills because, you know, I want this fixed as bad as anybody else, but I just want it done right. So if they're building new homes, there's talk about them actually having things stubbed out to the outside of the subdivision. So that when that time comes, it's much easier for a homeowner to tie in. Okay. Well, here we go. We were in D.C. two weeks ago and we were talking with Jill Takuda's staff people and she does a lot of environmental stuff. And they were providing some information about some of these decentralized sewer systems. So it goes into like a container. So a subdivision would go into something the size of a container. Solid waste would be hauled out, I don't know, daily, weekly, monthly. I don't know how often it has to be. But then it would be taken care of properly. There we go. And again, if we had it all together, so it was all, you know, not just one person, every block would have their own little cesspool. But yeah. So you know what, though, again, you guys, paradise is paradise at some point. Sometimes the infrastructure is not the paradise part of it. So we're working on that. And my wonderful son is in environmental studies. But I told him to come on back here and help with the wastewater treatment plant. I mean, if you had a kid in high school right now or something, you're looking for something for them to do to keep them home here. And yeah, yeah. What's your kid here? You want to make good money. They are going to be doing things like that. They're going to have to do some of these decentralized stations. And that's part of the problems of why that's kind of been taken off the table, because they don't have the people that can go out and monitor these things. Yeah, yeah. You know, and maintain them. And maintain them and be like, you know, planning engineers. Right. Yeah. There's a lot of money going to be made there. And in doing the conversions. Yeah, yeah. It's a big money thing. It's a $5 billion industry that has to be resolved by the year 2050. Well, hope it gets resolved a lot faster than that. So mathematically, I don't think it will. That's sad. But. Are you going to be alive then? No, I'm not. It's 2025. I mean, everybody in my family is like 75 to 78. So I've got 12 years, 13 years left. So I won't even make the 2035. That's about the time we'll get the new hospital around that time. Yeah, yeah. So just if you guys don't know. You need an incinerator to burn. Yeah, exactly. That's what we need. They are proposing a new hospital next to the Costco area. And they're trying to build housing so that way the doctors and the nurses actually have a place to live near the hospital. It's affordable. Yeah, so. And the thing is, too, is that. Can you believe doctors have a hard time getting affordable housing? I know they can't find housing. And also, there's a lot of doctors that don't want to buy a house yet. They want to see how it's going right before they buy a house. So they need houses where they can actually rent. So, you know, it's against the housing pressure thing. I did hear, however, that if they can get the water right set up, which they might, they could be building a thousand more homes here in Waikoloa. So, you know, there's homes being built in the future pipeline. Again, it takes the will and everything else. There's a lot of affordable housing. You know, Mitch Roth pushed a lot of things forward. I mean, it didn't it wasn't he didn't bring it, but he incubated it and brought it to the market. You know, he's got some stuff done. You know, you look at all that housing up above Costco. Yeah, yeah, that's true. All that's done. And that's all he got put on sewer. Got got some developers that want to build some stuff up that area to put in the pipes. Did a very good job. Yeah. So so and there's a lot of things around the island coming on. And so, you know, a lot of people complain, well, that's that that's not going to be affordable for. I mean, that's going to be rentals. But it once you open up the market, it's supply and demand. Yeah. And if everybody moves out of the rentals that are too priced, too high to do, people are going to sell them and then people can buy them again. Yeah, it'll open up the market. Yeah. So I'm sure that you guys are dealing with this kind of stepping around neighborhoods, the housing affordability and availability crisis. So but, you know, I think people are trying to do their share here. So I'm just trying to tell you, speaking about another vaccine problem, parking. So just real quick for those people here, the parking update is the fact that we are you might not like this, but this is how this is going to go right now. And we'll see if it goes that we're creating an ordinance that the city is going to look their council. Right. And then it's going to basically put a cap on parking fees downtown. So I know that some people say, well, you can't tell business owners how much they can pay for the other thing. However, when we met with the council before there was council members and even the city planning guy who basically said, what do you mean? They didn't come to the city or the county council and talk about that. They were about to make all those parking lots paid. They didn't even get this. It still has an impact on the downtown area when you make basically a new business opportunity for using your parking lots. So you should get some type of like, at least tell them what you're doing. Yes. No, I wouldn't think so. I don't know. Business license. They forgot to get a business license. Yeah, like a second, like a business license to show that they basically created a new business opportunity with these parking lots. Was that what the complaint is? Because we're trying to tell you guys, it's called unregulated parking. So by regulating it, and it's not again, they still, they're not saying free, but a couple of bucks, not like 12, 15, 20, whatever, just to make it so that way, because even right now there's downtown businesses that are folding. And so it's, you know, the reason I kind of got involved with this, because I started seeing as what can be done. So they are trying to put more free parking as not diagonal, but like parallel parking on the downtown streets, which by not being able to do the parallel, because you can't back out in the traffic, it's too dangerous. It kind of cut half the ones I thought was going to be there. And it gets, you can have the best ideas in the world and you get to start to go, is that really going to work? So if we can get the capped, then we maybe can get people who are saying, well, maybe it's not free, but it's not egregious. And which is good news to you guys too, is the fact that a lot of the companies down there are starting to figure out ways to use validation better. So that way you get your 90 minutes or your two hours for free, you get a chance to go in and get your food, get your shopping and stuff like that. And then that's part of it too. So between people trying to make things a little better than they were like, you know, six months ago and maybe trying to do a capping thing, we'll see. And then also trying to find more real estate for free paid park, free parking. At least people are now talking and working together. So we're going to try and see how it goes. So we're going to have a big party and bring the mayor in to talk about it on April 12th. So I mean, I, you know, I don't believe in telling somebody how much they can charge for a hamburger or a beer or how much their parking stall is going to cost. Government shouldn't be telling people what they can charge. And I know that's his thing. I know. But I always say, you know what? They're in a special management use district, right? For the economic development of the whole downtown. But if the economic development is not happening because everyone's being run out of the space. So what's a fair price for the hamburgers down there? Or what should we charge for beer down there, you know, or a parking stall? I don't know. To me, it's all. And trust me, I do not like it. It's ruined. Downtown is ruined. Downtown. I don't go down there anymore. I haven't been down there in, I don't know how long. It's going to take us two years from now. Even if we got down to a dollar an hour to get people to come back downtown again. So something has to be done. A lot of people planted their heels and said, I'm done. You know, they found a lot more. You know, I have found a lot of a lot of areas that I didn't realize that have good foods that are now busy because I moved over there. Yeah. Everything else. Magics. Yeah. So it is. Yeah, it's interesting. Yes. So my two words lately are vexing and complex. It's one way or the other. And this is why, you know, if you guys beat up your elected officials or how the way the world works, there's always more stuff than you sometimes know, which is happening. So, you know. That's a lot. Yeah. Julie knows I've been advocating for property rights for well over a decade, you know, and it has been kind of, it's been a passion of mine. It's what led me to where I'm at right now. And it's important, you know, you've got to protect property rights, private property rights. Right. And that's why I have an issue. Well, and I know you do. And I keep thinking, OK, but the converse side of that is what happens if private property rights are ruining a part of society? And so some people would say, well, let it fall and it'll fix itself in the long run. Right. But then I say, you know what, if everyone's trying to work together and you try and fix some piece of it so it works for more people than a few. Yeah. I mean, I would like to see people figure it out and get together and figure it out. And it happened with, you know, I don't even use the word greedy. You know, it was a land order. Somebody came in and said, hey, you're making nothing right now. And I'm going to bring you in. I don't know how much money. And they said, bring it. I'll do it. Yeah. And so, like I say, what's going to happen is it's going to fix itself. There's going to be nobody in the businesses renting the space anymore. Now there'll be nobody renting the stalls for, I don't, even if they go down to a dollar, because there's no place to go. That's right. There's no way to meet. It's a horrible thing to happen to our town. Yeah. And that's just it. I figured that, you know what? That's, and again, we've been working on this for a long time, you guys, that to rebuild downtown is going to take a heck of a lot if we let it go. And so instead of watching it go, you do something to see. And then maybe, like you said, and one of the things, of course, they're going to do is talk to the landowners about what they think about this and what's fair. And yeah, I would love to sit down and talk to the landowners and say, is this really working out? You're losing all these businesses. People are leaving. They're not making money. If they haven't left yet, they're going to leave. And, you know, you should really rethink your business plan. Yeah. Right. At the end of the day, it doesn't make sense. No. But now, of course, conspiracy theories, that somebody's trying to buy up the entire downtown by depressing land values and la la la. So, yeah. Here we go with that. I know, right? This is a day and age of, you know, people just, you know, making shit up. But on the other side, we have still some vibrant things going on in the downtown area. And they're going to be doing a food truck festival the same day that we're doing our Malama Kilo Kona. And so there's still going to be some vibrant, fun things to do downtown. So don't give up on them. Cool. Okay. And no Vesta Kona or nothing this year? Nothing happening there? You know what? I just. Because there's no parking? Yeah, right. No, no. Because there's no sponsor money. That's why. No, in fact, this event that we're going to be doing down there, it's basically it's a free event for the public. And it's going to have vendors of the local businesses. And it's going to have free musical entertainment. We'll have a mayor. So to try and do things free, you definitely need sponsors. So it's easier to get a few sponsors to put on this event than trying to put on a big old fat festival of 4,000. So there's Eric's going like this. Oh, they're running. I'm sorry. Yeah, yeah, yeah. I'm like, he's going like this to me. I'm like, oh, yeah, usually, usually. Eric's three things. Wrap it up. Yeah. Stop. Today it's. So there's a running race. Yes. The 365 Hawaii Community Fund is doing a run for the reef race on Saturday, which is only the day after tomorrow. And if you were watching this in Facebook land and you had planned on going, we're actually having to move it from Ka'aluhu Beach Park to Puhehoe because we've had some massive surf over the last few days. And it closed the beach park yesterday. We're worried that we're having another surf event on Friday that might close the beach park first thing on Saturday morning. So instead of like not knowing, we're going to just preempt the whole experience. And then it's going to be a 5K run. It's going to run straight down. It's going to go south and then come back and we're going to do prizes for the winners. And we're going to have some giveaways, free mineral sunscreen to give out to people. And it's raising money so that we can have a free mineral sunscreen for the dispensers at the beach park. And it's the third year that we've been doing this. And it's a good give back because it saves the coral reef, which creates a better lifestyle for those of us who live here. And also is an eco friendly experience that people who are visiting enjoy it as well. You know, I wonder, do you guys, I know they've got those ag forms every time you fly in, you have to fill out, right? And what do they have on there that something about, are you bringing in sunscreen that's not safe? Yeah, that'd be nice, right? Yeah. But then they have to make all those flyers and those forms again. You know how much they really want to do that. So, but you know what the good news is, is they're starting to show videos on the planes that come in saying the Pono and some of the things they talk about ocean safety and about the mineral sunscreen. So, you know, so I've traveled a hell of a lot the last six months a year and I haven't seen a single video on a flight coming in. Are you, are you, are you flying Hawaiian though? Uh, not to me. I just flew Alaska for the first time. Okay. Nothing there. Well now that Alaska is joining with the Delta. So Alaska and Hawaiian have merged. Don't ask me about that nightmare. Oh, I know. So it's not ready for prime time. Okay. It's not ready for prime time. Okay. It will be in, uh, in, uh, it'll just be nice because, uh, yeah. You want to go into it real briefly? Okay. I don't know if you guys want to hear this. I was thinking you guys might be flying, uh, Alaska United. Is it to do with their points? It was just that it's, yeah, it was the whole thing. You know, I went to Hawaiian's, uh, website because I got status with Hawaiian so I'm looking for a flight. I had to go to Palm Springs and the, uh, only flights I had, I looked out and was like, I got all the way through and it's like, oh, this is operated by Alaska. So you can't pick your seats until you paid. And you know, I'm like, well, I'm not going to sit in the middle row for the whole flight. I need to know what's going on. And so I went over to Alaska and check the same flight. So there it is, but I don't have any status with them. So I don't get free bags. I don't get anything else. And so, but they was plenty of seats. I'm like, okay, so I go back over to Hawaiian. I buy it now. I get the seats that I saw when I went through the thing. But then when I went in, Alaska charged me for my bags. They didn't give me any of the status. I couldn't check in on Hawaiian when it came time to check in, even though I bought Hawaiian Airlines flights. And then I couldn't check in on Alaska on the app because it didn't recognize it. So about six phone calls to each airline carrier. It was, I needed to get the electronic ticket number from the Hawaiian purchase, give it to Alaska. They were able to pull it up and put it on their app. So I was able to get in and do that somehow because everybody was very nice during all these phone calls. It was very nice when I got to my very first flight on Alaska Airlines, they call me up to the podium. I'm like, what now? No, you don't want to call us in Mr. Owens. We just want to let you know that you've been upgraded to first class. I have a seat in 1D and I'm like, well, thank you. So it's just both airlines were very helpful, very positive. But they're still trying to do, but it's certainly not for prime time. If you're going to be doing that, what did happen though? Finally, I did transfer. I think I had about 120,000 miles on Hawaiian. And so I split it down the middle and put it to Alaska. And about a week later, I now do have status on Alaska and Hawaiian. Okay. And my mileage is showing up a little bit. Okay, good. But it's not easy. It's interesting because I have the Alaska credit card and it gives you free baggage. Right, right, right. Does Hawaiian have that too? Yeah. Okay. And with my status, I have it too, without using the credit card. Ah, okay. So if you guys, when you move here to the island. We do just buy. If you look and it says that it's operated by Alaska or Hawaiian and you're buying it from the other one, I would urge you to buy it from the one that it's actually going through. There you go. And be careful out there flying. Okay. So anything else? Is there anybody who has anything to say on our side? Nope. Dave's watching and Giselle is watching as well. Hello. We probably woke her up down there. I know we did, huh? And Rochelle is also on. Oh, okay. Hey, thank you guys for joining us over on the Facebook land today. We really appreciate you guys joining us live. And there's nothing? They don't want to ask any questions or anything? Nobody's got any questions. What do you do for a living? I sell real estate. That's right. So give us a call. We can help you guys out. And also, we can, both of us can also put you guys on listing alert. So you'll get information as it appears on the MLS. So you'll know first what's happening. You'll know before Zillow tells you, before Redfin tells you, before realtor.com tells you, you'll know immediately. Right. Because our MLS is better. It's one off and they submit stuff to the other guys every so often. Yep. So there you go. Okay. So we'll be back, Lance. Hopefully, are you, you're not, are you going to do the TTTT at the end of the month, Thursday? I think so. I think I'm going to be around. So we're going to do the Islandwide update the last Thursday of this month, not the third Thursday, which is next week. We're not doing that because I'm going to have a big old fat birthday party down in Hilo. So join us for the last Thursday. Is it your birthday Thursday? Well, actually it's next month, but I found this house. Oh my God, you guys, it's beautiful. It's this huge waterfly house. But the link will be at the Facebook page. I'll put that. It's a Zoom call. You guys can chime in and we'll get the whole update of what's happening with the island, plus a mortgage update. So join us at that point. And with that, we say. Aloha.