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April 5th, 2020 10:45 AM by Korby Matsen
Mauna Lani is a magnificent 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 estates to secluded luxury condos, there is a type of home for every discerning buyer. The Mauna Lani Resort offers its residents two Championship Golf Courses, the exclusive Mauna Lani Beach Club, and a Spa and Fitness Center.
Also, within the resort are two luxury hotels, the Auberge Resort, Mauna Lani, and the Fairmont Orchid. Both hotels offer a wide variety of dining options. The Shops at Mauna Lani also provide plenty of restaurant choices, such as Tommy Bahamas’ and Ruth’s Chris Steak House. This open-air mall also consists of a selection of shops that include a mixture of famous brand names and local craftsmanship, and of course, the world-class, white sand beaches are always close by.
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At the time of this writing (Apr 2nd), there were 16 single-family homes for sale, with no homes in escrow within the Mauna Lani Resort, along with 40 condos for sale, with 9 in escrow. Of the homes for sale, the highest priced one is listed at $18,900,000, and is located at 68-1025 Pauoa Wy in the Pauoa Beach community, while the highest priced condo on the market is listed at $3,300,000 and is Unit #2B1R at The Residences of Laulea. At the other end of the spectrum, the lowest priced home on the market is at 68-1122 N Kaniku Dr #305, located in Ka Milo at Mauna Lani, and is listed at $1,795,000. On the condo side, the lowest priced unit currently on the market is listed at $549,000. It is Unit #B-3, in the Palm Villas at Mauna Lani.
When it comes to sales in the 1st Quarter, the number of condos sold was, as usual, quite higher than the number of homes sold. In the Q1 time frame of January 2020 through March 2020, there were just 3 single-family homes sold in the Mauna Lani Resort, while 25 condos were sold. The highest priced home to sell is located at 68-1091 Pauoa Wy, in Pauoa Beach, and it sold for $5,600,000, from a list price of $5,895,000. The lowest priced home sold for $2,700,000, from a list price of $2,900,000, and is located at 68-1004 Papakonane Ct. The highest priced of the 25 condos sold is Unit #A103 in Mauna Lani Terrace, and it sold for $2,150,000, from a list price of $2,495,000. While the condo with the lowest sales price was Kulalani at Mauna Lani #2402, which sold for $640,000 from a list price of $644,000.
Analysis: The volume of condos sold in Mauna Lani Resort in Q1 saw a small jump over the last quarter but overall, the numbers have remained pretty consistent for the last 3 quarters. The inventory has fluctuated a little but has also remained in a consistent range over the last 3 quarters. With uncertainty coming in the months ahead, it remains to be seen if this is market remains consistent.
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 make your Hawaiian Real Estate dreams a reality. If you enjoyed this Market Update, you can find updates on other location on the Kohala Coast on my Market Update Page. Mahalo
Highlights of the Q1 2020 Mauna Lani Market Update
If you enjoyed this update, you may like Kohala Real Estate Update for February 2020.