Kohala Coast Resort Condo Market – Low Inventory Returns

In April 2023 I reported that the Kohala Coast resort condo low inventory situation had eased slightly, with 28 listings to choose from at the end of what would typically be high season for resort property sales in Hawaiʻi. As we head into the winter high season for resort real estate, buyers are arriving to find almost no active listings to view. Here is what you will find currently for sale at Waikoloa Beach Resort, Mauna Lani Resort and Mauna Kea Resort on the Big Island.

If watching the sun set into the ocean and enjoying whales in season is the Hawaiʻi lifestyle you seek, consider a Kohala Coast resort property

Historic Low Inventory – Few Kohala Coast Resort Condos For Sale

I thought the available inventory of condos for sale hit bottom in March 2022 at twelve active listings between the three resorts, even fewer than the 18 in April 2021 after the feeding frenzy that occurred when travel to Hawaiʻi reopened after the pandemic restrictions were lifted. Yet once again we find ourselves with only twelve resort condos for sale (excluding the three remaining single family homes that are technically condos at Amaui Villas).

Looking back through my 550 blog posts, it was more typical for there to be a dozen listings at a single condominium community. Here are your current choices if you are hoping to buy at Kohala Coast resort condo.

Waikoloa Beach Resort

Kolea Beach Clubʻs hot tub has a view of the anchialine ponds and beach at Anaehoʻomalu Bay

Half of the listings are at Waikoloa Beach Resort – but that is a bit misleading in terms of relatively availability. Five of the six active listings are at Kolea, the most expensive and only beachfront luxury condominium complex in Waikoloa Beach Resort. Kolea condo asking prices range from $1,825,000 for a 2 bed/2 bath condo with 1,270 sq ft, to $4,190,000 for a 3 bed/3.5 bath penthouse unit. By the way, I worked for the developer in pre-construction sales and have my own spreadsheet of every resale if you are considering a purchase at Kolea and want to discuss relative value.

The other active listing at Waikoloa Beach Resort is a 2 bed/2.5 bath townhome at Waikoloa Colony Villas offered for $1,237,000. If you are looking for a resort condo that you can rent when you are not using it and your budget is under $1 million, there are still options at Waikoloa Beach Resort. Five of the six listings in escrow are under $1 million. However, when the next one comes up, you will have to be prepared to move quickly – which means be prequalified with a local lender if you are not planning to pay all cash.

Mauna Lani Resort

Owners at Mauna Lani Resort have access to the Mauna Lani Beach Club – everyone can dine at Napua Restaurant there

At Mauna Lani Resort there are 5 active condo listings (although one of these is clearly priced too high as it has been listed for 1-1/2 years!) and three properties in escrow. Excluding the Mauna Lani Terrace asking $3,995,000 for a 2 bedroom, the price range is from $1,325,000 at Fairways at Mauna Lani for a 2 bed condo, to $2,795,000 for a 4 bedroom paired home at Ka Milo with glimpses of distant ocean view.

Mauna Kea Resort

View of Kaunaʻoa Beach at Mauna Kea Resort from Copper Bar – my favorite restaurant in the hotel

Excluding the Amaui Villa residence under construction, there is only one condominium for sale, a second floor 3 bed/ 3 bath Waiʻulaʻula condominum offered for $2,650,000. These condominiums have a wonderful lay out and construction quality – and are popular vacation rentals – but there are no elevators. If you want an upper floor but prefer an elevator, at this price point you could also consider one of the Kolea at Waikoloa Beach Resort listings, where there might even be more room to negotiate with sellers.

I know many of my readers enjoy browsing the real estate sites daily. Many of you already have listing alerts set up on one of those sites. But often we will see listings come up in Preview status in the MLS before they are released to the public. So if you have a very particular condo complex or floorplan in mind, please let your favorite real estate professional know!