Mauna Kea Resort April Market Update: Kohala Coast 2021 Q1 Market Statistics Enclosed
Today marks roughly 4 1/2 months since the reopening of Mauna Kea Beach Hotel after an 8-month closure due to Covid-19. It has been a joy to witness the infectious buzz in the air of homeowners and hotel guests enjoying themselves on the beach at Kauna’oa Bay.
Tourism is prospering, and the occupancy of Mauna Kea Beach Hotel will hover around 90% throughout April. It appears that the rollout of the vaccine combined with the State of Hawai‘i Safe Travels Program has proven effective and is keeping Hawaii the 2nd least infected state in the country in terms of Covid-19 cases. The overall safety and low Covid-19 case count on the Big Island continue to drive the Kohala Coast real estate market.
In the first quarter of 2021, we saw 25 closed transactions within Mauna Kea Resort totaling just under $70M in sales volume, which represents a 131% increase from Q1 2020 when we witnessed 9 sales making up $29M in sales volume and a 570% increase from Q1 2019 when there were 6 recorded sales for $10M in volume.
The strong Q1 2021 outputs below elucidate the unprecedented levels of demand in our market. We do not foresee a slowdown in demand; however, Mauna Kea Realty’s inventory of available properties within Mauna Kea Resort and along the Kona-Kohala Coast is very low. This is an opportune time for owners who may be considering selling to take advantage of a strong and bullish market.
Mauna Kea Resort Sales
- 2021 Q1: 25 Sales
- 2020 Q1: 9 Sales
- 2019 Q1: 6 Sales
- 2018 Q1: 6 Sales
Kohala Coast Sales Above $1M (District of South Kohala)
- 2021 Q1: 75 Sales
- 2020 Q1: 32 Sales
- 2019 Q1: 19 Sales
- 2018 Q1: 30 Sales
Kohala Coast Sales Above $3M (District of South Kohala)
- 2021 Q1: 13 Sales
- 2020 Q1: 10 Sales
- 2019 Q1: 1 Sale
- 2018 Q1: 8 Sales
Kohala Coast Average Sales Price (District of South Kohala)
- 2021 Q1: $1.170M
- 2020 Q1: $874K
- 2019 Q1: $633K
- 2018 Q1: $934K
Kohala Coast Total Sales Volume (District of South Kohala)
- 2021 Q1: $266M
- 2020 Q1: $176M
- 2019 Q1: $89M
- 2018 Q1: $152M
Find below the Mauna Kea Resort’s April Real Estate Market Update highlighting last month’s (March) sales, resort offerings, and local trends. I hope you find this information interesting and helpful.
There were 8 sales within Mauna Kea Resort in the month of March.
Most notably, Kauna’oa vacant Lot #7 sold for $4.9M and Kauna’oa vacant Lot #11 for $3.15M. Mauna Kea Realty represented both Sellers and worked directly with the Buyers.
Furthermore, four (4) condominiums located within the Uplands community of Wai’ula’ula sold, and one (1) condo sold within the Uplands community of Kumulani.
Lastly, a one (1) bedroom condo at the Hapuna Beach Residences sold in March. The Hapuna Beach Residences at Mauna Kea Resort are 68 whole-ownership condominiums ranging from one to four bedrooms in a variety of floor plans — some with pools, all with incredible ocean and coastline views located within a stone’s throw to one of the most beautiful crescent white sand beaches in Hawai’i. Please feel free to contact me for additional information regarding available units and/or to tour the Hapuna Beach Residences.
(Click Here) to view the detailed list of March sales within Mauna Kea Resort.
NEW CDC GUIDANCE COULD BRING CHANGES TO HAWAII’S TRAVEL RULES: The Centers for Disease Control and Prevention issued new guidance Friday stating that fully vaccinated people “can travel at low risk to themselves” — a move that Lt. Gov. Josh Green said is a “game-changer” for Hawaii tourism. The CDC guidance states: “Fully vaccinated people can travel within the United States and do not need COVID-19 testing or post-travel self-quarantine as long as they continue to take COVID-19 precautions while traveling – wearing a mask, avoiding crowds, socially distancing, and washing hands frequently.” The CDC notes, however, that the updated guidance applies only to those who have been fully vaccinated — meaning those who have received the final recommended dose of a vaccine at least two weeks ago; guidance for unvaccinated people remains unchanged. “It means that the CDC has blessed the use of ‘vaccine passports’ for travel in the United States, and we are prepping the process now to make that happen,” Green told Pacific Business News. Green said it is difficult to determine a timeline for any updates to Safe Travels at the moment, but he said that a vaccine passport could launch first for interisland travel before being rolled out for transpacific arrivals. (www.bizjournals.com)