April 6th, 2019 9:45 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, the Mauna Lani Bay Hotel (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 (Apr 2nd), there were 17 single-family homes for sale, with 5 homes in escrow within the Mauna Lani Resort, along with 55 condos for sale, and 14 in escrow. Of the 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 most expensive condo on the market is listed at $3,695,000 and is Unit #7 at Na Hale at Paoua Beach. At the other end of the spectrum, the lowest priced home on the market is 68-1122 N Kaniku Dr #347, located in Ka Milo at Mauna Lani Resort, and is listed at $1,499,000. On the condo side, the lowest priced one currently on the market is listed at $559,000. It is Unit #1201, in the Fairways 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 2019 through March 2019, there were just 3 single-family homes sold in the Mauna Lani Resort, while 14 condos were sold. The highest priced home to sell is located at 68-1025 N Kaniku Dr, #415 in The Villages of Mauna Lani, and it sold for $1,590,000, from a list price of $1,625,000. The lowest priced home sold for $1,477,000, from a list price of $1,595,000, and is located at 68-1122 N Kaniku Dr, #203, in Ka Milo at Mauna Lani. The highest priced of the 14 condos sold is Unit #E202 in Mauna Lani Point, and it sold for $2,100,000, from a list price of $2,265,000. While the condo with the lowest sales price was Palm Villas #D-22, which sold for $455,000 from a list price of $469,000.
Analysis: The volume of condos sold in Mauna Lani Resort has dropped significantly over the last two quarters, as have the sale of single-family homes. But if you include the single-family homes in escrow, it is more like they held steady. The inventory has also increased, but it is more of a seasonal increase, so I would say the inventory levels have also “held steady”. It remains to be seen if this is a market “pause”, or the beginning of something more.
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, you can find updates on other location on the Kohala Coast on my Market Update Page. Mahalo
Highlights of the Q1 2019 Mauna Lani Real Estate Update
If you enjoyed this update, you may like Kohala Real Estate Update for February 2018.
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