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January 7th, 2018 2:21 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 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 (Jan 4th), there were 12 homes for sale and 3 homes in escrow in the Mauna Lani Resort, along with 52 condos for sale and 8 condos in escrow. Of the homes for sale, the highest priced one is listed at $7,690,000, and is located at 68-1052 Pauoa Way in the Pauoa Beach subdivision, while the highest priced condo on the market is listed at $3,100,000 and is in The Residences at Laulea, Unit 12B2. At the other end of the spectrum, the lowest priced home on the market is Ka Milo #205, located in Ka Milo at Mauna Lani, and is listed at $1,465,000. 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 4th Quarter, the number of condos sold was, as usual, quite higher than the number of homes sold. In the Q4 time frame of October 2017 through December 2017 there was only 1 home sold in the Mauna Lani Resort, while 16 condos were sold. Since there was only 1 home sold, the highest priced one and the lowest price one sold are the same house. It sold for $5,800,000, from a list price of $5,950,000 and is located at 68-1303 S Kaniku Dr, in the Cape at Mauna Lani. The highest priced of the 16 condos sold in Q4 was Unit H303, in the Mauna Lani Terrace, and had a sale price of $1,900,000, from a list price of the same amount, while the condo with the lowest sales price went for $505,000, from a list price of $519,000 and is Unit J3 in the Golf Villas.
Analysis: With the sales of homes and condos in the Mauna Lani Resort remaining slow and steady throughout 2017, the inventory of homes has been gradually reduced. Although we are still in a Buyers’ Market in Mauna Lani Resort, we are getting closer and closer to a balance market (5 – 6 months of inventory).
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. Mahalo
Highlights of the Q4 2017 Mauna Lani Market Update
If you enjoyed this update, you may like Kohala Coast Market Update for November 2017.