In 2019, there were a total of 31 sales within Mauna Kea Resort compared to 28 closed transactions in all of 2018 and the 33 sales that were recorded in 2017. There was $80 Million in real estate sales recorded within the Mauna Kea Resort in 2019, which was a 9.5% increase compared to the $73 Million in sales recorded within the resort in 2018. However, 2019 did not surpass a very strong 2017 which saw $102 Million in sales within Mauna Kea Resort.
Mauna Kea Realty sold more than twice as much in volume last year within the resort compared to the closest competing brokerage; 113% more to be exact.
Please find below a breakdown of the 2019 sales categorized by community or sub areas within the Mauna Kea Resort. (Click Here) to view the locations of the respective communities below.
- Fairways South: There were three (3) single family homes sales with an average sales price of $2.15 Million and an average of 197 days on market (DOM). Please note, two (2) of those three (3) properties sold for around land value, thus bringing down the 2019 average sales price in the Fairways South. FWS #32, which sold for $1.65 Million, was recently demolished and is slated for redevelopment, and FWS #31, which sold for $1.95 Million, is currently undergoing an extensive renovation and remodel.
- Fairways North: There were a total of six (6) sales, five (5) of which were single family homes sales, and one (1) vacant lot sale. The homes had an average sales price of $2.66 Million and an average of 158 days on market (DOM). The vacant lot (Lot #28), which consists of 1.29 acres, sold for $1.2 Million after 395 days on the market.
- The Villas: Villa #34 was the only Villa sale recorded in 2019. The 2,684 square foot 2 bedroom, 2 bathroom unit sold for $3.1 Million after 62 days on market (DOM).
- Kauna’oa: There were a total of four (4) sales. Two (2) Halia Hale townhomes sold, and two (2) vacant lots sold. The Halia Hale townhomes had an average sales price of $2.85 Million, with an average of 346 days on market (DOM). The two vacant lots had an average sales price of $1.13 Million, with an average of 185 days on market (DOM).
- Wai’ula’ula: There were a total of eleven (11) sales. Seven (7) four-plex units sold, and (4) duplex Villas sold. The four-plex units had an average sales price of $1.22 Million and an average of 81 days on market (DOM). The duplex Villa units had an average sales price of $2.022 Million and an average of 50 days on market (DOM).
- Kumulani: There were four (4) condominium sales with an average sales price of $839K with an average of 125 days on market (DOM).
- Moani Heights: Moani Heights #13 is a 2,896 square foot 4 bedroom 4 bathroom single family home that sold for $1.8 Million after 281 days on the market.
- Hapuna Beach Villa: The one-of-a-kind Hapuna Beach Villa, which was listed at $19.9 Million, sold in late 2019 for $16.5 Million after 116 days on market (DOM). The completely remodeled and inspiring 9,250 square foot landmark estate home sits on 1.5 fee simple acres crowning the shoreline at Hapuna Beach. This registers as the highest sales price within Mauna Kea Resort since 2007 when a home in the Bluffs sold for $29 Million.
Please find below new offerings within Mauna Kea Resort and local trends.
New On The Market
Three properties were recently listed within Mauna Kea Resort.
Mauna Kea Realty recently listed a classic older Fairways South residence that is designed in a U shaped configuration. Fairways South #29 consists of just under 3,500 square feet of interior living space with 4 bedrooms and 3.5 bathrooms. Offered at $2.175 Million, this is the best-priced home at Mauna Kea below the highway, in a quiet neighborhood with lots of privacy, surrounded by open common area. (Click Here) to view the listing details.
Wai’ula’ula J102 was recently listed for $1.35 Million. J102 sold in March of 2019 after only 12 days on the market. J102 is one of better located units in the community and overlooks the 11th fairway and green of the Hapuna Golf Course while offering unobstructed ocean, coastline, summer sunsets, Kohala Mountain, and Maui views. The 3 bedroom 3 bath unit has 2 master bedrooms on the view with 2,082 SF of air-conditioned living space, 506 square feet of covered and open lanai patio together with a spacious one car garage with storage, plus 1 uncovered undesignated parking stall. (Click Here) to view the listing details.
Kumulani B-1 recently hit the market and is being offered for $875K. The ground floor unit is located in the front row of Kumulani and enjoys expansive ocean and coastline views. The unit consists of 1,375 square feet and has 2 bedrooms and 2 bathrooms. (Click Here) to view the listing details.
Mauna Kea Realty has an off market exclusive in-house listing located in the desert highlands of the Big Island, midway between the Mauna Kea Resort and the rural town of Waimea. The house, which is featured on the popular architecture, design, and technology website Dwell, is sited on a dry hillside facing southwest with sweeping views of three towering volcano peaks, vast lava escarpments and a broad expanse of Pacific Ocean. A wild episodic stream cascades through desert rocks when rain falls in the mountains high above the house to the north. The intention of this project is elemental—to make it possible to live comfortably outdoors on this wild site with minimal intervention and only the rawest material construction. This intention requires thoughtful shaping of wind, light, temperature, humidity, and views. The home is constructed out of site cast concrete; local hardwoods; prefabricated galvanized steel; prefabricated weathering sheet steel; local lava rock and blue stone gravel; glass and translucent polycarbonate. The house is off-grid and self-contained with all power provided by a rooftop PV array. Priced at $3.4 million (Click Here) to view this spectacular new offering. Please feel free to contact me for additional information.
BIG ISLAND HOME SALES AND PRICES INCREASE IN 2019: Sales of both single-family homes and condominiums on Hawaii Island increased in 2019 along with the median price, compared to 2018, according to statistics provided by Hawaii Information Service. There was a total of 2,424 single-family homes sold in all of 2019, which was 3.5% more than the 2,342 that were sold in 2018. The median price of those homes was 5.7% higher than the median price in 2018. For condominiums, sales increased by 3.36% for all of 2019 to 861 units sold, from 833 units sold in 2018. The median price of those units sold in 2019 increased 3.43% compared to 2018. (Source: bizjournals.com)
NEARLY A QUARTER OF HAWAII HOMES ARE PURCHASED BY OUT-OF-STATE BUYERS: Hawaii’s chief economist Eugene Tian reported that 24% of Hawaii homes were purchased by buyers from outside the state. The figure is even higher on the neighbor islands. Tian stated, “The number for the neighbor islands (Maui, Kauai, and the Big Island) is actually over 40%. The overall 24% figure is based on data from the preceding decade, in which roughly 5,000 homes were sold statewide. Tian said approximately 1,000 of those were purchased by residents of other U.S. states. Around 200, or 4% of the total, were purchased by foreign buyers. Tian expects the out-of-state purchase trend to continue. Hawaii has the lowest property taxes of any state in the country, which makes second homes relatively cheaper compared to high-tax states like New York and California. (Source: hawaiipublicradio.org)
BIG ISLAND TOPS ‘TRENDING DESTINATIONS’: Hawaii Island is the No. 1 trending travel destination for 2020 among Kayak users, according to the company’s annual Travel Hacker Guide. The guide, which was released in early 2020, details what travelers are looking for based on Kayak search data. The travel search engine receives more than 6 billion searches each year for flights, hotels, car rentals, and more. The top trending locales were determined by examining searches for flight destinations conducted for travel dates between March 1, 2019 to Feb. 28, 2020 and comparing them with searches from the same period during the previous year. According to the report, interest in Hawaii Island has jumped 84% year-over-year. (Source: bizjournals.com)