Mauna Kea Resort March Market Update: The Kohala Coast Market Continues To Roar
Island-wide sales of single-family homes for January and February of 2021 combined are 21% higher than they were in the same months last year before the pandemic settled in Hawaii and cut off tourism to the Islands for more than six months. The number of condominium sales for the first two months of this year was 45% higher than the same months last year. Median sales prices for the first two months of 2021 were also higher than the first two months of last year, representing an increase of 9% for single-family homes and a 37% increase for condos.
As we progress through the first quarter of 2021 on the Kohala Coast, we are witnessing unprecedented levels of demand with virtually no inventory. With the current lack of inventory, we are seeing certain properties receive multiple offers and some properties are selling for over the asking price. Sellers are testing the market and the market continues to strengthen and reach new heights while exemplifying bullish characteristics.
For instance, Mauna Kea Realty recently listed and sold a home within Kauna’oa at Mauna Kea Resort in less than 90 days for $18.5M. This was the largest sale recorded in Mauna Kea Resort dating back to 2007. Additionally, a home that was listed last week for $10.9M in the unique oceanfront enclave of Puako received multiple offers in less than a week of being on the market. Lastly, an oceanfront home at the Kukio Golf and Beach Club closed escrow last week for $34 million, the highest-priced home sale in State of Hawaii so far this year, and the second-highest sales price ever at the exclusive residential development of Kukio.
Find below the Mauna Kea Resort’s March Real Estate Market Update highlighting last month’s (February) sales, resort offerings, and local trends. I hope you find this information interesting and helpful.
There were 7 sales within Mauna Kea Resort last month.
Three of the February recordings were sales contributed to the completion of the Hapuna Beach Residences. 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, 27 of the 68 units have closed escrow and an additional 2 units are under contract. Please feel free to contact me for additional information regarding available units and/or to tour the Hapuna Beach Residences.
Additionally, and as mentioned above, Mauna Kea Realty listed and sold a resort compound (6,674 square feet, 5 bed, 6 full baths, 2 half baths) on over two acres within Kauna’oa for $18.532 Million after only 87 days on the market.
Lastly there were two sales within Wai’ula’ula. Four-plex unit G202 sold for $1.3M and unit N202 sold for $1.275M.
(Click Here) to view the detailed list of February sales within Mauna Kea Resort.
VACCINATED TRAVELERS MAY SOON BE ABLE TO VISIT HAWAII WITH A DIGITAL VACCINE PASSPORT: Hawaii is looking to welcome fully vaccinated travelers in the coming months, working on a potential vaccine passport that would allow vaccinated visitors to enter without a quarantine. Fully vaccinated travelers would get an electronic code that would grant them access to travel throughout the state, Lt. Gov. Josh Green told the outlet this week. “We’re hopeful that [by] April 1 for all of our state individuals any citizen that has been vaccinated plus two weeks to fly inter-island,” Green said, adding the program could potentially be expanded to mainland travelers by May 1. With this vaccine passport program, Hawaii would join a growing list of countries and cities exploring the concept, including Iceland, Denmark, and Phuket. Additionally, several countries, including the Seychelles and Georgia (the country, not the state), have already started welcoming fully vaccinated travelers to their shores. (www.travelandleisure.com)