July 5th, 2020 9:02 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, Auberge Resorts 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 1st), there were 18 single-family homes for sale and 1 home in escrow within the Mauna Lani Resort, with 42 condos for sale and 7 in escrow. Of the single-family homes for sale, the highest priced one is listed at $17,900,000, and is located at 68-1025 Pauoa Wy in the Pauoa Beach community, while the highest priced condo on the market is in the Residences at Laulea, Unit 1B2R and is listed at $3,275,000.
At the other end of the spectrum, the lowest priced single-family home on the market is at 68-1122 N Kaniku Dr #305, in Ka Milo at Mauna Lani and is listed at $1,795,000. On the condo side, the lowest priced one currently listed is Unit #D-1 in Palm Villas at Mauna Lani and is priced at $565,000.
When it comes to sales in 2nd Quarter, the effects of the Covid-19 pandemic have shown its effect. In the Q2 time frame of April 2020 through June 2020 there were not any single-family homes sold in the Mauna Lani Resort, while just 11 condos were sold. The highest priced of the 11 condos sold was The Islands at Mauna Lani #P1, and it sold for $1,040,000 from a list price of $1,135,000, while the condo with the lowest sales price went for $525,000 from a list price of $615,000 and is Unit #401 in Kulalani at Mauna Lani.
Analysis: As we expected, the Covid-19 pandemic has affected sales in the Mauna Lani Resort in the second quarter of 2020. There were no sales of single-family homes (usually 3-5) and condo sales were cut in half. Prices and inventory levels have remained steady and online traffic has reportedly increased immensely and now that travel is opening up in August, there is optimism that will see a rebound in the coming months.
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 come true. If you enjoyed this Market Update, you can find updates on other locations at my Market Update Page. Mahalo.
Highlights of the Q2 2020 Mauna Lani Resort Market Update
If you enjoyed this update, you may like Kohala Real Estate Market Update for May 2020.
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