Mauna Kea Resort March Market Update: Sales and Trends in Hawai‘i’s Upscale Real Estate Market

Aloha from Jake at Mauna Kea Realty,

The inventory saga continues. Year-to-date across the entire Big Island, there have been 447 residential homes, 153 condos and 439 vacant land sales, declines of -8%, -17% and -1% respectively compared to the first two and a half months of 2021, according to data from Hawaii Information Service.

In today’s housing market, buyers are vigorously competing for a limited number of properties for sale. Even with inventory continuing to contract, Mauna Kea Realty is observing certain owners who prefer selling their homes discreetly, avoiding mass-market exposure while maintaining privacy for themselves, and/or rental guest who may be occupying the home. In the real estate world, we call this an “off market listing” or “whisper listing”. Simply put, an off market listing is a property that a particular Brokerage shares with a small circle of potential buyers more exclusively, often in hope of getting a deal done quickly and judiciously.

Considering Mauna Kea Realty has represented clients in a significant share of transactions within Mauna Kea Resort and along the greater Kohala Coast over the past several years, owners who prefer to sell their property discreetly have found working with Mauna Kea Realty extremely advantageous.

Currently, there are NEW opportunities to purchase off-market single-family homes in Hawi, Kohala Ranch, and most notably, a home being offered for sale on the ocean side of the highway at Mauna Kea Resort with panoramic ocean and sunset views. Please feel free to contact me for photos and additional information regarding these rare opportunities.

Relative to the above, the inventory shortage is sending prices soaring at record rates. Median sales prices in the district of South Kohala are substantially higher than a year ago. Median sales prices for residential properties increased +38% year-to-date compared to the same period of time last year. Median sales prices of condominiums increased +44% year-over-year to date, and median prices for vacant land increased +128% year-over-year to date.

If you have considered selling, or would like to explore that option, this is an opportune time to take advantage of a strong and bullish market. If you have any questions about recently sold properties or if you are curious about the value of your property, our team is here to help. Feel free to contact me with any of your real estate questions.

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

February Sales

There were 6 sales within Mauna Kea Resort in February 2022.

Most notably, Mauna Kea Realty represented the Seller and Buyer in the off-market sale of a 39,114 SF vacant lot in the Fairways North. Fairways North #15 sold for 3.045M in early February.

A one-acre vacant lot in the Uplands community of Hapuna Estates sold for $925K.

Kumulani #D3 sold after 6 days on the market for $1.39M which was $15K over the asking price. The 2 bedroom 2 bathroom unit consists of 1,215 SF.

Lastly, three (3) approx. 1,500 SF 2 bedroom 2 bathroom units at the Hapuna Beach Residences sold at a median price of $3.7M.

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. At this time, there are less than 6 units left for sale within the development. 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 February sales within Mauna Kea Resort.

New On The Market

Mauna Kea Realty just listed the ONLY 3 bedroom condominium unit available for sale within the Mauna Kea Resort. Wai’ula’ula C102 is one of only two 3 bedroom units currently available for sale on the entire Kohala Coast.

This is an opportunity to own arguably the best-located unit within the private gated community of Wai’ula’ula at Mauna Kea Resort! Wai’ula’ula C102 overlooks the 15th fairway and green of the Hapuna Golf Course while enjoying expansive unobstructed ocean, coastline, and year-round sunset views.

Wai’ula’ula C102 is being sold fully furnished and in “move-in” condition. The 3 bedroom 3 bath unit has 2 masters 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.

Features include stone floors, wall-to-wall carpet in the living and bedrooms, coffered ceilings with crown molding, cherry wood cabinetry throughout, framed pocket doors, granite countertops, Wolf stainless steel gas cook-top, wall oven and microwave as well as a SubZero stainless steel refrigerator. The built-in outdoor kitchen boasts marble countertops and backsplash and is equipped with a Wolf BBQ, SubZero mini fridge and a wet-bar sink.

In addition to the Mauna Kea Club amenity opportunities, owners at Wai’ula’ula enjoy the benefits of the private amenity center with a fitness room, infinity pool, keiki (children’s) pool, spa, recreational pavilion with meeting room, and an outdoor BBQ area. The clubhouse is equipped with a complete kitchen, a large flat screen TV, and ample seating. The clubhouse is a special feature that can be reserved for private meetings or entertaining. Owners and guests at Wai’ula’ula enjoy the convenience of being within close proximity to Mauna Kea Beach and Hapuna Beach, two of the finest white sand beaches in Hawaii. (Click Here) to view the property details for this spectacular new listing.

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

NUMBER 3 RESTUARANT IS NOW REOPENING

Just a reminder that Number 3 restaurant located at the Mauna Kea Golf Course is now reopening with hours of 11:30 am to 2:30 pm.

MARCH MAD DASH AT MAUNA KEA GOLF COURSE – Wednesday, March 23

Our March Club Member Event, the March Mad Dash happens on Wednesday, March 23 beginning with a 2:00 p.m. shotgun start at the Mauna Kea Golf Course.

2-Person Teams will each tee off and select one ball to play. The team then alternates shots until the ball is holed.  Cocktails, pupus and awards at Number 3 Restaurant will close out the day.

The cost is $50 per person for Social members with complimentary play for Platinum members. To sign up please contact Jeff Keyes at (808) 882-5409 or jkeyes@maunakearesort.net.