Mauna Kea Resort November Market Update: New Listing – Villa #39 at Mauna Kea Resort

Mauna Kea Realty’s parent company Hawai’i Life just released their Q3 2022 Hawai’i Luxury Market Report. The report reveals a drop in sales in Q3 2022, while home prices increased, and the market normalized as months of inventory shift upward.

Hawai‘i Island Market Statistics Overview – Residential Sales Above $3M

There are currently 40 active residential listings above $3M on Hawai’i Island, an increase of +66.7% comparing Q3 2022 to Q3 2021. Last quarter, the number of luxury homes available for sale island-wide has nearly doubled.

There were 14 sales above $3M on Hawai’i Island in Q3 2022, a decrease of -26.3% over 19 sales in Q3 2021.

For the third quarter of 2022, Hawai’i Island saw a rise in the price of luxury single-family homes. The median sold price of single-family homes was $6.12M, an increase of +12.4% over the median sold price of $5.45M during Q3 2021.

For Hawai’i Island’s luxury market, the average price per square foot climbed to $1,661/foot, an increase of +9.4% comparing Q3 2021 to Q3 2022.

Mauna Kea Resort & Kohala Coast Overview

The strong 2022 year-to-date Mauna Kea Resort & Kohala Coast outputs below elucidate the high levels of demand in our Kohala Coast market. Inventory in the resort segment is low, and quality, strategically located properties are still in high demand with properties in certain resort nodes selling almost immediately as they come on the market. Prices continue to push upwards, however total sales volume and the number of sales in certain market segments are contracting due to either Buyer uncertainy or the lack of inventory.

Mauna Kea Resort Sales

2022 Jan-Nov: 63 Sales     (7% Decrease Year-Over-Year)
2021 Jan-Nov:  68 Sales
2020 Jan-Nov:  45 Sales
2019 Jan-Nov:  30 Sales

Mauna Kea Resort Average Sales Price

2022 Jan-Nov: $3.97M       (28% Increase Year-Over-Year)
2021 Jan-Nov:  $3.11M
2020 Jan-Nov:  $3.27M
2019 Jan-Nov:  $1.79M

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

2022 Jan-Nov: 225 Sales    (10% Decrease Year-Over-Year)
2021 Jan-Nov:  251 Sales
2020 Jan-Nov:  119 Sales
2019 Jan-Nov:   94  Sales

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

2022 Jan-Nov: 60 Sales      (0% Increase Year-Over-Year)
2021 Jan-Nov:  60 Sales
2020 Jan-Nov:  38 Sales
2019 Jan-Nov:   5 Sales

Kohala Coast Average Sales Price (District of South Kohala)

2022 Jan-Nov: $1.50M        (18% Increase Year-Over-Year)   
2021 Jan-Nov: $1.27M
2020 Jan-Nov: $1M
2019 Jan-Nov: $690K

Kohala Coast Total Sales Volume (District of South Kohala)

2022 Jan-Nov: $746M         (24% Decrease Year-Over-Year)
2021 Jan-Nov: $987M
2020 Jan-Nov: $532M
2019 Jan-Nov: $396M

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

October Sales

There was 1 sale within Mauna Kea Resort in October of 2022.

A 2.7-acre vacant lot in the Fairways North sold for $2.1M. The larger than normal lot was created through the consolidation of Lots 27 and 28 resulting in a 2.7 acre estate property. (Click Here) to view the details of this vacant land sale within Mauna Kea Resort.

New on the Market

A rare gem located within the iconic Villas at Mauna Kea. Villa #39 is a remodeled three bedroom unit with high quality finishes and furnishings offering a very private setting with spectacular ocean and sunset views. Impeccably maintained, Villa #39 shows extreme pride of ownership and the high quality management of the home.

The Villas, known for its premier location and within walking distance to the Mauna Kea Beach Hotel offering the world renowned Kauna’oa Beach, Mauna Kea Golf Course, restaurants and services makes this very special resort community a much sought after destination.

Villa #39 is a fully turn-key furnished unit with a successful vacation rental history with income figures available upon request. A 50 panel photovoltaic system installed in 2020 with battery storage completes the package.

Mauna Kea Resort Homeowners can take advantage of the Resort Club Membership Program, which offers access to golf, tennis, beach, and pool areas at two world-class hotels.

(Click Here) to view the property details for this spectacular offering. Please feel free to contact me if you have any questions or if you would like to schedule a showing.

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

Pop-Up Artisan Trunk Show at Mauna Kea Resort

The Koi Boutique, located in the Breezeway at Mauna Kea Beach Hotel, will be the site on Wednesday, November 23 for a Pop-Up Artisan Trunk Show from 11 am to 3 pm.

Come enjoy this special Artisan Trunk Show and browse the many beautiful and unique items created by some of our local and talented jewelry designers and award-winning artist.

20% off for members during the trunk show only. *Discount may not apply to select merchandise or sales items. Featured artist include jewelry designers Cimber Designs by Kelly Cimber and Lola Florence by Lauren. Local Artists include Margo Ray, Marcia Ray, and Red Dot Hawaii.