Mauna Kea Resort April Market Update: Kohala Coast Q1 2023 Luxury Market Statistics Enclosed

In Q1 2023 there were 29 residential, condo and vacant land sales islandwide that recorded at or above $3M, with a median price of $5.2M. 20 of the 29 sales above $3M went into contract within 10 days of being on the market which goes to show that luxury properties on the Big Island are still in high demand and getting snapped up fast. The median price for sold properties above $3M was up 16% in Q1 of 2023 compared to Q1 of 2022 when we witnessed 45 sales at or over $3M.

The Q1 2023 Mauna Kea Resort and broader Kohala Coast outputs below illustrate a substantial drop off in number of sales which can partly be contributed to historically low inventory in the high-end resort segment.

Mauna Kea Resort Sales

2023 Q1: 3 Sales     (87% Decrease Year-Over-Year)
2022 Q1: 23 Sales
2021 Q1: 25 Sales
2020 Q1: 9 Sales

Kohala Coast Sales Above $1M (District of South Kohala)

2023 Q1: 28 Sales     (64% Decrease Year-Over-Year)
2022 Q1:  77 Sales
2021 Q1: 75 Sales
2010 Q1:  32 Sales

Kohala Coast Sales Above $3M (District of South Kohala)

2023 Q1: 3 Sales       (85% Decrease Year-Over-Year)
2022 Q1: 20 Sales
2021 Q1: 13 Sales
2020 Q1: 3 Sale

Mauna Kea Resort Average Sales Price

2023 Q1: $3.286M     (1% Decrease Year-Over-Year)                                                                                                  2022 Q1:  $3.313M
2021 Q1:   $2.729M
2020 Q1:  $3.212M

Kohala Coast Average Sales Price (District of South Kohala)

2023 Q1: $1.038M      (28% Decrease Year-Over-Year)                                                                                            2022 Q1: $1.432M
2021 Q1: $1.170M
2020 Q1: $874K

Kohala Coast Total Sales Volume (District of South Kohala)

2023 Q1: $102M        (59% Decrease Year-Over-Year)                                                                                    2022 Q1: $250M
2021 Q1: $266M
2020 Q1: $176M

Below please find the Mauna Kea Resort’s April Real Estate Market Update highlighting last month’s (March) sales, resort offerings and local events. I hope you find this information interesting and helpful.

March Sales

There was 1 sale within Mauna Kea Resort in March of 2023.

The Hawai’i Life Mauna Kea team represented the Seller of Wai’ula’ula C101 which sold for $2.725M. By way of unparalleled marketing, diligence and skilled negotiating, our team participated in the second highest priced sale for a fourplex unit in the history of the community. (Click Here) to view the details of this sale.

New on the Market

The Hawaii Life Mauna Kea team just listed an oceanfront condominium within the iconic Mauna Kea Resort. Hapuna Beach Residences A25 is a luxurious 2 BD 2.5 BA unit + bonus room which is one of the most sought-after floor plans. Consisting of 1,646 square feet of interior living area, and 66 square feet of outdoor patio space, the unit enjoys expansive ocean, coastline and sunset views while sitting within a stones throw from Hapuna Beach. (Click Here) to view the property details for this spectacular offering.

For a Complete List of Condominiums and Residential Properties Currently Available at the Mauna Kea Resort (Click Here).

For a Complete List of Vacant Land Properties Currently Available at the Mauna Kea Resort (Click Here).

Local Events

THE MAUNA LANI CULINARY CLASSIC: 

LABOR DAY WEEKEND | THURSDAY, AUGUST 31ST TO SUNDAY, SEPTEMBER 3RD

Mauna Lani presents the inaugural Mauna Lani Culinary Classic, a three-day food celebration featuring the best in gastronomy, wine and mixology. Showcasing award-winning local and national talent as well as an unbeatable line-up of experiences, the Culinary Classic connects chefs, sommeliers, mixologists, friends and neighbors in the name of culinary creativity. (Click Here) for details and to buy tickets.