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July 8th, 2018 8:22 AM by Korby Matsen RB-21643
Mauna Lani is a beautiful resort located on the West Coast of the Big Island of Hawaii. This Kohala Coast resort covers over 3,200 acres and contains 15 separate neighborhoods. From private oceanfront homes to secluded condos, there is something for every discerning buyer. The Mauna Lani Resort offers its residents two Championship Golf Courses, the Mauna Lani Beach Club and a Spa and Fitness Center.
Also within the resort are two luxury hotels, the Mauna Lani Bay Hotel and the Fairmont Orchid Hotel. Both hotels offer a variety of activities and dining options. The Shops at Mauna Lani also provides plenty of restaurants choices, including Tommy Bahamas’ and Ruth’s Chris Steakhouse, as well as a variety of shopping options, and of course, the world-class, white sand beaches await your discovery.
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At the time of this writing (July 3rd), there were 16 single-family homes for sale and 1 home in escrow in the Mauna Lani Resort, with 42 condos for sale and 11 in escrow. Of the single-family homes for sale, the highest priced one is listed at $18,000,000, and is located at 68-1015 Pauoa Way in the Pauoa Beach subdivision, while the most expensive condo on the market is in Mauna Lani Point, unit F106 and is listed at $1,944,000. At the other end of the spectrum, the lowest priced single-family home on the market is Ka Milo #207, located in Ka Milo at Mauna Lani and is listed at $1,675,500. On the condo side, the lowest priced one currently listed is Unit # 2106 in Kulalani at Mauna Lani and is priced at $619,000.
When it comes to sales in 2nd Quarter, the number of condos sold was, as usual, quite higher than the number of homes sold. In the Q2 time frame of April 2018 through June 2018 there were 6 homes sold in the Mauna Lani Resort, while 25 condos were sold. Of the 6 homes that sold in Q2, the highest priced one is located at 68-1122 N Kaniku Dr #325 in the Ka Milo community, and it sold for $2,020,000 from a list price of $2,150,000, while the lowest priced home to sell was also in Ka Milo at Mauna Lani, Unit #337. It sold for $1,385,000 from a list price of $1,465,000. The highest priced of the 25 condos sold in Q2 was Residences at Laulea #4B2, and it sold for $3,128,750 from a list price of $3,425,000, while the condo with the lowest sales price went for $505,000 from a list price of $529,000 and is Unit #A3 in the Golf Villas at Mauna Lani.
Analysis: Although the inventory levels have remained fairly constant over the last four quarters, sales in Q2 have stayed at the same brisk pace as in Q1. With a five to six month supply of inventory considered to be a balanced market, we are already in that range in both the single-family home and the condo markets. If the sales levels remain at this pace, we will be in a Sellers’ Market within the next few quareters.
If you are looking to buy or sell a home in the Mauna Lani Resort, or anywhere on the Kohala Coast, contact me today. I will help you make your Hawaiian Real Estate dreams come true. Market Updates for other areas of the Kohala Coast can be found on my Market Update page. Mahalo
Highlights of the Q2 2018 Mauna Lani Resort Market Update
If you enjoyed this update, you may like Kohala Real Estate Market Update for April 2018.