Kohala Coast Resort Condo Market – Uptick in Active Listings

I have been summarizing the level of inventory and sales in the Kohala Coast Resort Condo Market twice a year since post-pandemic buying pretty much wiped out the inventory of condominiums for sale between Mauna Kea Resort, Mauna Lani Resort, and Waikoloa Beach Resort. For the first time since 2021, I can report an easing in the supply-demand imbalance, with more condos for sale despite a healthy level of sales activity this winter and spring.

Kohala Coast condominiums enjoy fair weather and year-round sunsets, plus resort amenities. This scene at sunset in the Mauna Lani Resort.

Kohala Coast Resort Condo Listing Inventory at Highest Level in Three Years

In April 2021, there were only 18 condo listings to choose from between the three Kohala Coast resorts. A year later, in April 2022 that number had dropped to 12 – a dozen condos to choose from, with an average price of almost $2.2 million.

At the end of the first quarter of 2023 (first quarter normally being our highest season for visitor arrivals and therefore our highest season for vacation condo sales), the situation had eased a bit, with 28 properties Kohala Coast resort condominiums listed for sale.

We find ourselves in May 2024 with 38 condos for sale (these numbers exclude the Amaui Villas homes under construction in Mauna Kea Resort which are only technically what most people think of as condos, plus the resale listing at Villas at Mauna Kea). And the increase in inventory is not for lack of sales. So far in 2024 we have seen 56 sales and there are still eleven properties in escrow.

Sales prices remain strong. The lowest priced sale Kohala Coast condo sale was $730,000 for a 1 bedroom condo at the Shores at Waikoloa Beach Resort. The highest-priced resort condo sale was $3,700,00 for a Waiʻulaʻula at Mauna Kea paired home. That is excluding sales of free standing “condo” homes at Amaui Villas for $4.3 – 4.4 million; and a resale at the Residences at Laulea in Mauna Lani Resort for $5.7 million.

Excluding the upper end detached home condos, the median sales price so far this year is right at $1.5 million

Amenity area shared by Kulalani and Ka Milo at Mauna Lani has two pools. Two bedroom Kulalani condos are selling around the median resort condo price of $1.5 million.

Is it a Buyers or Sellers Market at the Kohala Coast Resorts?

The good news is that Kohala Coast Resort condo buyers now have some choices! We are only seeing bidding wars for the most desirable units at the lower end. But the increase in inventory is not enough to begin to term this a “buyers market.” Remember that the number of sales is still strong relative to the number of listings. Prices are holding steady, and if a listing is priced in line with comparable sales, it will sell close to that asking price.

How does the current crop of listings stack up?

If your budget is $1 million or below, you have a handful of options at Waikoloa Beach Resort, in both Colony Villas (townhomes) and Fairway Villas at Waikoloa.

If your budget is around $1.5 million, you might want to look at Kulalani at Mauna Lani.

This might not seem like a sexy photo, but it is the gate to the beach at ʻAnaehoʻomalu Bay from Kolea at Waikoloa Beach Resort

If you want an ocean view or a short walk to the beach, your best bet is Haliʻi Kai or Kolea, the most exclusive condominium communities in Waikoloa Beach Resort, or Waiʻulaʻula at Mauna Kea Resort. Waiʻulaʻula and Kolea are in the $3-4 million range for a 3 bedroom…and they arenʻt building any more of these luxury condominiums at the Kohala Coast Resorts so these will continue to be sought-after properties for second homes, investors, and retirement lifestyles.