Waikoloa Real Estate: Waikoloa Village and Waikoloa Beach Resort (2026)

By Tony Kawaguchi, REALTOR (RS-66616), The Kawaguchi Group, eXp Realty (RB-21841). Selling in Hawaii since 2005. Updated November 13, 2026.

Waikoloa sits on the dry lava slopes of South Kohala, north of Kona International Airport. The Village is a planned residential community several miles inland and well upslope; the Beach Resort is on the coast around Anaehoomalu Bay.

Buyers here are usually choosing between full-time living in the Village and a resort condo that may be used part of the year or rented. The rules and costs are different, so here is each side.

Waikoloa Village

The Village has single-family subdivisions, townhomes and condos, a golf course, and a small commercial center. Waikoloa Hills was among the island's most active condo projects in October with 2 sales, and the Village had 7 house sales. It is sunny, windy and dry. Most properties are in residential districts, so nightly rentals are generally not allowed unless a property holds a nonconforming use certificate.

Waikoloa Beach Resort

On the coast, the resort has hotels, two golf courses, shops and condo and townhome communities such as Fairway Villas, which had a sale in October. It is inside a General Plan resort area, where Hawaii County allows short-term vacation rentals, subject to association rules and registration.

These are October 2026 median prices from the Title Guaranty Hawaii market report for Hawaii Island (effective November 2, 2026). Title Guaranty is a Hawaii title and escrow company, and its free monthly report compiles the island's MLS sales statistics by tax district. One month is a small sample, so treat a district median as a starting point and look at actual comparable sales.

Vacation rental rules

Hawaii County's 2018 short-term vacation rental law (Ordinance 2018-114) allows new unhosted rentals only in certain districts: the V, CG and CV zones, residential and commercial zones inside the General Plan's resort areas, and RM-zoned condominiums. Outside those areas, only rentals that were operating before April 1, 2019 and hold an annually renewed nonconforming use certificate can continue. Since September 1, 2026 the county also requires every transient vacation rental, hosted or not, to register through its online portal under Ordinance 25-50, with a grace period through the end of 2026. Condo association rules can be stricter than the county's. In Waikoloa, that usually means the Beach Resort can host rentals while the Village generally cannot. Confirm zoning for the exact parcel.

Nightly rental income is taxed separately from property tax: the state transient accommodations tax is 11% as of January 1, 2026, each county adds a 3% county TAT, and general excise tax is 4.5% in both Maui County and Hawaii County, so plan on about 18.5% of gross rent before income tax.

Fire, lava and other hazards

The U.S. Geological Survey divides Hawaii Island into lava-flow hazard zones from 1 (highest) to 9 (lowest). Zone 1 covers the summits and rift zones of Kilauea and Mauna Loa; Zone 2 is the land next to and downslope of those rift zones. The zones describe long-term probability, not a forecast, and USGS is updating the map, which still dates from 1992. Zone matters for insurance and financing. When private insurers decline a home, the Hawaii Property Insurance Association is the market of last resort: it requires at least two declinations, offers dwelling limits from $50,000 to $450,000, and generally costs more for less coverage. Ask your lender and an insurance agent about a specific address before you are in contract.

The bigger day-to-day hazard in Waikoloa is brush fire: the dry grassland around the Village has burned in large wildfires that forced evacuations. Ask about defensible space, and get insurance quotes early.

Land tenure

Most Hawaii Island homes and lots sell fee simple. Leasehold still appears in some Kona-side condos and older subdivisions, and Department of Hawaiian Home Lands homestead leases have their own eligibility rules. On rural lots, I look closely at legal access, road maintenance agreements on private roads, and whether utilities actually reach the parcel.

Getting around

From Kona International Airport, Waikoloa Beach Resort is about 20 to 25 minutes and Waikoloa Village 30 to 35 minutes. Waimea is about 25 to 30 minutes from the Village. These are our own estimates for light traffic, not official figures.

Property taxes

Hawaii County sets rates by class each May. A full-time owner who files for the home exemption is taxed in the Homeowner class, and the exemption also lowers the taxable value. Second homes and vacation rentals are generally taxed in the Residential class, which now has three tiers.

Illustration only: a home with $800,000 of taxable value would be about $4,600 a year in the Homeowner class before the home exemption, and about $8,880 a year in the Residential class. The exemption amount depends on the owner, so I have the county's numbers checked for the specific property.

A unit in a hotel and resort tax class is taxed at $11.55 per $1,000.

Keep reading

• Kailua-Kona
• South Kona
• Kohala Coast
• Waimea
• Hilo
• Puna
• Volcano Village
• Kau
• Big Island real estate overview
• Big Island market report
• Which Hawaiian island should I live on?
• Cost of living in Hawaii

Tony Kawaguchi, REALTOR (RS-66616), The Kawaguchi Group, eXp Realty (RB-21841). Selling in Hawaii since 2005. Phone (808) 201-3577. The Kawaguchi Group is based on Oahu; for neighbor-island purchases we work with buyers through eXp Realty's statewide network, including referrals to agents who work those areas every day. This page is general information, not legal, tax, insurance or financial advice. Market statistics are deemed reliable but not guaranteed and can be revised. Drive times are our own estimates for light traffic and will vary. Photos are of the general area and are not listings.