Mauna Kea Resort Condominium Market Update & Community Overview
Wai’ula’ula consists of four-plex condos (Ridge), paired or duplex homes (Villas), and single family residential (Estates) built by Maryl Construction. All are of high quality construction with superior finishes, garages, and share a beautiful fully equipped amenity center with 2 pools, spa, workout hale, and meeting/social rooms with an on staff resident manager.
In 2012, the Ridge recorded 6 sales ranging from $674k (bldg “K”) to $950k (bldg “A”), compared to 2013, where there have been 3 reported Ridge sales from $779k (bldg “L”) to $999k (bldg “N”).
Currently, there are four Ridge condos for sale with a big jump in price from the $999k for the last recorded Ridge sale to the current lowest price of $1.275. There are no pending sales at this time, though it will be very interesting to see where the next sale closes with a nearly $300k increase in list prices!
The Villas of Wai’ula’ula
The Villas of Wai’ula’ula recorded two sales in 2012:
- A somewhat distressed sale that had been on/off the market since 2008, chasing it from the original list price of $2.295 all the way to the recorded sales price of $1.3M.
- A listing where I represented the seller closing escrow at $50k over asking price in 20 days to record at $1.7M.
In 2013, the Villas have 3 sales to report ranging from $1.27M to $1.7M with the lower priced one being close to the road and with little views. There are no pending sales and no active Villa listings at this time.
The Estates, Kumulani & Kauna’Oa
The Estates have no activity to report at this time.
Kumulani is also in the uplands and consists of 8 four plex buildings and a community pool area. They have beautiful ocean views and overlook the water feature of the Hapuna Golf Course. The only sales in 2013 have been the last two developer units closing escrow at $560k (“I” bldg) and $700k (bldg “B”).
It is expected the development will be on the upward trend now that the last developer sales are finally behind them and the only real price competition has taken such big increases in pricing. Do I hear value purchase?!
Kauna’ Oa has only a pending sale at this time for the year, which is expected to record by the end of this month. List price is $2.185M (bdg #9) and the coconut wireless expects it to close north of $2M. There is one unit only currently available at a list price of $3.795M in a premiere location with great views.
The Fairway Villas
The Fairway Villas also has only one sale to report in 2013 which was listed at $2.3M and closed escrow at $2M even. There are no Fairway Villas on the active market at this time.
Contact a Big Island Resort Community Expert
While the market is experiencing a cautious time with patient sellers, it is still a very good time to take advantage of the quiet time before our winter season gets into full swing.
If you have any questions about the Mauna Kea Resort Real Estate market, or any of the Big Island resort communities, give me a call! Living and loving my resort life!
A hui hou!
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