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April 17th, 2018 4:36 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 23 homes for sale and 4 homes in escrow in the Mauna Lani Resort, along with 43 condos for sale and 11 in escrow. Of the homes for sale, the highest priced one is listed at $18,000,000, and is located at 68-1015 Pauoa Way in the Pauoa Beach subdivision, while the most expensive condo on the market is listed at $2,2195,000 and is Unit #E203 in the Mauna Lani Point community. At the other end of the spectrum, the lowest priced home on the market is 68-1122 N Kaniku Dr #17, located in Ka Milo at Mauna Lani Resort, and is listed at $1,449,000. On the condo side, the lowest priced one currently on the market is listed at $532,000. It is Unit #E3, in the Golf 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 2018 through March 2018, there were 7 homes sold in the Mauna Lani Resort, while 21 condos were sold. The highest priced home to sell is located at 68-111 Pukaua Pl, in the Championship Ridge subdivision, and it sold for $3,650,000, from a list price of $3,750,000. The lowest priced home sold for $1,560,000, from a list price of the same amount, and is located at 68-1122 N Kaniku Dr, #353, in Ka Milo at Mauna Lani. The highest priced of the 21 condos sold is in the Residences at Laulea, Unit #13B1, and it sold for $3,050,000, from a list price of $3,150,000. While the condo with the lowest sales price was Palm Villas #D-21, which sold for $430,000 from a list price of $475,000.
Analysis: The volume of single-family homes and condos sold in Mauna Lani Resort have both increased in Q1 of 2018 over the steady pace of quarterly sales in 2017. In the condo market, this has accelerated the march out of a Balanced Market towards a Sellers’ Market. Although the single-family home market is still in Buyer Market territory, if the increase in sales we saw in Q1 continues, we will be in a Balanced Market by mid-2018.
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, read about other location on the Kohala Coast on my Market Update Page. Mahalo
Highlights of the Q1 2017 Mauna Lani Real Estate Update
If you enjoyed this update, you may like North Kohala Real Estate Update for Q1 2018.