West Hawaii Real Estate | May 25, 2016 13 Lending remains largest concern for commercial real estate market HAwaii’s upscale REAL ESTATE Experts 10-Acre Estate kohala Ranch 3-Acre Estate Beautifully updated single level Estate Home 5-BR 6-Full Baths. 4951 SQFT with Pool and Tennis Ct. Travertine Flooring, must see! MLS# 291499 $1,699,000 CAPT. COOK Fantastic custom 2 BR 2 Bath duplex sitting in a rare double size lot with room to expand. Consistent strong vacation rental history and turnkey furnished. Fenced for added privacy. This is a must see! Top quality throughout! MLS# 276346 $869,000 Alii Dr. Custom Ocean front 4 BR with 1 BR guest unit. Beautiful Views and so much to see! 2-car garage, Wood floors, Granite counters. 2778 SQFT Excellent Value MLS# 280387 $ 1,495,000 Surf & racquet #1303 Top Floor Ocean front 3-BR 2- Bath. Nicely updated with Granite counters and new Lanai doors and bathrooms. Spectacular Ocean views! Excellent condition 1170 SQFT MLS# 287278 Priced right @ $729,000 lot development Multiple properties for sale or joint venture. Ready to go. Four 1+ Acre lots with views! Holualoa-Honalo estate location. Buy 1, 2 or all four. MLS# 292083 $1,398,000 Kona By The Sea 116 1 BR 2 Bath fully furnished with ocean views! Priced to sell at $319,000. Must see! 929 SQFT! MLS# 280056 $299,900 SOLD Bali style 3 BR 3.5 Bath Infi nity Pool, Guest house on 3 Private Acres ! Excellent condition Gated estate. 2134 SQFT. MLS# 293767 $1,395,000 Spectacular property with 3 separate Houses and unlimited Coastline views. Custom built with exceptional quality. 9500+ SQFT. MLS# 294819 $4,295,000 ocean front Value priced 1 Br 1 Bath Kona Isle Ocean front. Nicely updated 2ND floor location with extended Lanai. Fully furnished! Low assoc fees! MLS# 286068 $429,000 SOLD Kona By The Sea #304 SOLD Ocean Front 2 BR 2 Bath beautifully updat ed. Awe some Views ! Granite counter throughout. Best location in the complex. 919 SQFT ML# 292062 $629,000 kona by the sea #301 Top Floor End Unit Ocean Front. Beautifully updated in desirable location. 2 BR 2 Bath Fantastic Ocean Views! 1282 SQFT. MLS # 295056 $749,000 SOLD 13.33 acres Prime location in central Kona with huge Ocean views. Zoned A-5A Possible development potential. Excellent location with Water and electric. MLS # 286566 Sea Village 3-103 Robert Wilkinson, R(B) Single level 2 BR 2 Bath. With Ocean Views. New Carpet & Flooring. Best price 2 BR in project. MLS# 292103 $299,900 808.987.6774 ROBERTWILKINSON@ELITEPACIFIC.COM ROBERT.ALLBIGISLANDPROPERTY.COM 27 YEARS OF EXPERIENCE 75-5905 WALUA RD., STE. 9 KAILUA-KONA, HI 96740 $795,000 Realtors specializing in commercial real estate expressed confidence in the continued recovery seen in the market but concern over the availability of commercial financing, during a commercial economic issues and trends forum at the 2016 Realtors Legislative Meeting & Trade Expo National Association of Realtors Chief Economist Lawrence Yun discussed the forces affecting commercial markets and said that while the overall market is seeing continued recovery, trepidation remains about the availability of financing for smaller commercial properties. Clients of Realtors who practice commercial real estate traditionally receive financing from smaller local or regional banks, many of which have slowed their lending as a result of the new financial regulations. When the audience was polled about their major concerns for 2016, lending was the number one issue by a wide margin. “The big guys have access to big money, while those specializing in smaller transactions do not have access to those sources. The largest banks can handle the compliance and higher capital requirements, but the smaller banks have less resources to meet these new regulations,” said Yun. Yun called for a relaxing of regulation on small financial institutions. “Smaller sized banks do not cause systemic risk; if a small bank goes under, it will not affect the entire market. They, and the businesses that depend on them, need regulatory relief,” he said. Despite these restrictions, the smaller commercial market is experiencing steady recovery, and market fundamentals have seen improvement across most sectors. Industrial and apartment sectors are seeing vacancy rates below pre-recession numbers, and the office sector is almost at its pre-recession level. However, recovery in the retail sector has remained sluggish, with vacancies still high and rents slow to rise. “People are no longer walking around the city to buy things, they are going online and having their purchases delivered,” said Yun. “This has kept the retail sector from fully recovering, leaving it as the only ‘soft’ sector in commercial real estate.” “People are no longer walking around the city to buy things, they are going online and having their purchases delivered,” said Yun. “This has kept the retail sector from fully recovering, leaving it as the only ‘soft’ sector in commercial real estate.”
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