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April 6th, 2017 5:05 PM 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 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 (Apr 3rd), there were 11 homes and 82 condos for sale in the Mauna Lani Resort. Of the homes for sale, the highest priced one is listed at $6,990,000, and is located at 68-1075 Pauoa Way in the Pauoa Beach subdivision, while the most expensive condo on the market is listed at $3,295,000 and is located at Na Hale at Pauoa Beach #3, also in the Pauoa Beach subdivision. At the other end of the spectrum, the lowest priced home on the market is Ka Milo #219, located in Ka Milo at Mauna Lani, listed at $1,475,000. On the condo side, the lowest priced one currently on the market is listed at $475,000. It is #D-21, 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 2017 through March 2017, there were 4 homes sold in the Mauna Lani Resort, while 15 condos were sold. The highest priced home to sell is located at 68-1042 Honokaope Way, in the 49 Black Sand subdivision, and it sold for $7,125,000, from a list price of $7,450,000.The lowest priced home sold for $1,775,000, from a list price of $1,850,000 and is located at 68-1122 N Kaniku Dr, #201, in Ka Milo at Mauna Lani. The highest priced of the 15 condos sold was Mauna Lani Point #E304, and sold for $3,150,000, from a list price of $3,450,000. While the condo with the lowest sales price was Kulalani at Mauna Lani # 1001, which sold for $598,000 from a list price of $598,000.
Analysis: Sales of single family homes in Mauna Lani Resort have remained consistent throughout 2016 and the beginning of 2017 at about 1 per month, with inventory also remaining consistent at 11 to 15 homes available. The sale of condos has remained consistent at 5 to 7 units per month for the same time period with inventory fluctuating between 68 to 86 units. This equates, in both markets, to about a one year supply of inventory, with a few small deviations. Since a market with a 4 to 6 month supply is considered to be in balance, the market in Mauna Lani Resort continues to favor the Buyer.
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, read about other location on the Kohala Coast on my Market Update Page. Mahalo.
Highlights of the Q1 2017 Mauna Lani Market Update