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July 5th, 2019 2:41 PM by Korby Matsen RB-21643
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, Auberge Resorts (currently closed for renovations) and the Fairmont Orchid Hotel. Both hotels offer a wide variety of activities and 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 (July 1rd), there were 15 single-family homes for sale and 1 home in escrow within the Mauna Lani Resort, with 43 condos for sale and 7 in escrow. Of the single-family homes for sale, the highest priced one is listed at $8,500,000, and is located at 68-1026 Honokaope Pl in the 49 Black Sand community, while the highest priced condo on the market is in the Residences at Laulea, Unit 1B2R and is listed at $3,300,000. At the other end of the spectrum, the lowest priced single-family home on the market is at 68-1122 N Kaniku Dr #402, in Ka Milo at Mauna Lani and is listed at $1,050,000. On the condo side, the lowest priced one currently listed is Unit #B-2 in Palm Villas at Mauna Lani and is priced at $519,000.
When it comes to sales in 2nd Quarter, the number of condos sold in Mauna Lani resort was, as usual, quite higher than the number of homes sold. In the Q2 time frame of April 2019 through June 2019 there were 6 homes sold in the Mauna Lani Resort, while 23 condos were sold. Of the 6 homes that sold, the highest priced one is located at 68-1051 Honokaope Pl in the 49 Black Sand community, and it sold for $2,850,000 from a list price of the same amount, while the lowest priced home to sell was 68-1122 N Kaniku Dr #309 in Ka Milo at Mauna Lani. It sold for $1,650,000 from a list price of $1,695,000. The highest priced of the 23 condos sold in Q2 was Mauna Lani Terrace A303, and it sold for $3,279,000 from a list price of $3,379,000, while the condo with the lowest sales price went for $510,000 from a list price of $519,000 and is Unit #I-2 in the Palm Villas at Mauna Lani.
Analysis: After two quarters of slowing sales and rising inventories, the Mauna Lani Resort market is back to the robust numbers we saw in early to mid-2018. It remains to be seen if this rebound is an aberration, or the beginning of a trend.
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. 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 Q2 2019 Mauna Lani Resort Market Update
If you enjoyed this update, you may like Kohala Real Estate Market Update for April2019.