Eleven months ago I blogged about the latest release of developer inventory at Kulalani at Mauna Lani Resort. The project continues to sell steadily, and construction and delivery of those condos to buyers continues to be plagued with delays. That’s why the release of the model homes in Building 1, where the sales office is, comes as welcome news to a buyer who wants the larger four-plex floor plans.
Kulalani’s 2,022 sq. ft. model home offered for sale and leaseback has a lot of sex appeal
Kulalani’s 2015 Sales Pace Hampered by Construction Delays
Only nine condos closed escrow at Kulalani during 2015, including three resales, and six developer units in the only building that got its certificate of occupancy during the year. Another twelve homes have been sold in the sense that they are under contract, but Buildings 8, 9, and 16 have yet to be finished.
I have a buyer in Building 8 who originally was told they would close in the summer of 2015; now it looks like March of 2016. The construction delays are symptomatic of a major construction boom on the Big Island and competition for materials. One buyer in Building 8 has traded to another building, so if you want a brand new 3 bed/3 bath Kulalani condo available to close in just a couple of months, consider 802 offered for $715,000 (MLS# 270981).
These finishes and plantation style are standard at Kulalani at Mauna Lani
Model Homes versus Pre-Construction
Kulalani has two building layouts. One is a six-plex with two different two-bedroom floorplans and one three-bedroom floorplan. Oddly, Kulalani has never had model homes for this style, and prospective buyers either look at a resale in Kulalani, or one at Fairways at Mauna Lani across the street, which was also a Stanford Carr project.
The other layout is a four-plex with a two-bedroom floorplan and a three bedroom floorplan, larger than their equivalents in the six-unit buildings and with a 2-car garage instead of a single car garage. These a buyer can see, beautifully furnished, in Building 1, where the sales office is located.
For the buyer who wants a home that has never seen foot traffic, and that has a super location on the golf course, Building 11 is being offered preconstruction, at $825,000 for the two-master-suite unit (MLS# 291094), and $900,000 for the three-bedroom (MLS# 291095).
Private lanai off ground floor master bedroom in this Kulalani model home for sale (not in MLS)
The models in Building 1 are also quietly on sale. The two (master) bedroom floorplan is offered fully furnished for $815,000. The 3-bedroom condo is offered furnished for $895,000.
You can buy a fully furnished Kulalani model home now, and get income as the developer will lease back for continued use as a model home!
Not listed in the MLS, but call me if you want more information on the leaseback terms.
A hui hou,
Beth Thoma Robinson, R(B)