July 6th, 2017 2:56 PM by Korby Matsen
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 provide 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 1st), there were 14 homes and 73 condos for sale in the Mauna Lani Resort. Of these homes for sale, the highest priced one is listed at $5,900,000, and is located at 68-1031 Ke Kailani Dr in the Ke Kailani subdivision, while the most expensive condo on the market is located in Mauna Lani Resorts newest development, the Residences at Laulea, Unit #5A2 and is listed at $4,400,000. 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 and is listed at $1,475,500. On the condo side, the lowest priced one currently on the market is listed at the low price of $445,000 and is Unit # D-21, in the Palm Villas at Mauna Lani.
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 2017 through June 2017 there were 8 homes sold in the Mauna Lani Resort, while 22 condos were sold. Of the 8 homes that sold in Q2, the highest priced one is located at 68-1046 Honokaope Wy in the 49 Black Sand community, and it sold for $10,500,000 from a list price of $11,700,000, while the lowest priced home to sell was Ka Milo at Mauna Lani Unit #337. It sold for $1,875,000 from a list price of $1,875,000. The highest priced of the 22 condos sold in Q2 was Residences at Laulea #10A2, and it sold for $3,850,000 from a list price of $3,850,000, while the condo with the lowest sales price went for $445,000 from a list price of $480,000 and is Unit #C-22 in the Palm Villas at Mauna Lani.
Analysis: Although the inventory levels have remained fairly constant over the last four quarters, sales in Q2 have increased by over 30% in the condo market and nearly doubled in the single family home market. With a 5 to 6 month supply of inventory considered to be a balanced market, we are already there in the single family home market but we would need the sales level to remain at current levels for a number of quarters to get to that point in the condo market. The condos sales levels in this quarter are an encouraging sign for the market ahead.
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 2017 Mauna Lani Market Update
If you enjoyed this update, you may like Kohala Real Estate Market Update for May 2017.
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