Mauna Kea Resort September Market Update: New Listing – Villa #22 at Mauna Kea Resort!

The Kona-Kohala Coast market is humming, while the primary factor slowing activity is being caused by a decline in the number of quality properties available for sale, which has proven to be our market’s biggest conundrum this year. In most resort nodes, we are witnessing ample demand, and the handful of properties that do come available are trading consistently and majority are selling within 5% of the list price, if not at asking.

The total number of sales, total sales volume, and active listings on the Kona-Kohala Coast have decreased significantly compared to last year. Conversely real estate prices continue to climb, according to newly released statistics.

The South Kohala & North Kona statistics below outline a year-to-date (YTD) assimilation of the first 9 months of 2022 compared to the first 9 months of last year. The districts of South Kohala & North Kona encompass Mauna Kea Resort, Mauna Lani Resort, Waikoloa Beach Resort, Hualalai Resort, Kukio Golf and Beach Club, and Kohanaiki Private Club Community.

Residential

• Median price: YTD $1M up 15% from $875K last year.
• Closed sales: YTD 536, down 31% from 773 last year.
• Active listings: Down 28% YTD compared to last year.

Condominiums

• Median price: YTD $823K up 41% from $582K last year.
• Closed sales: YTD 573, down 33% from 856 last year.
• Active listings: Down 30% YTD compared to last year.

Vacant Land

• Median price: YTD $623K up 56% from $400K last year.
• Closed sales: YTD 135, down 49% from 266 last year.
• Active listings: Down 49% YTD compared to last year.

While real estate is more expensive today for those financing, demand remains strong in one of the most desirable places to own real estate. Until the market sees more inventory, expect prices to remain near current highs.

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

August Sales

There were 2 sales within Mauna Kea Resort in August of 2022. Mauna Kea Realty represented the Buyer of a brand new approx. 5,000 square foot, 5 bedroom 5.5 bathroom single family home with a 3-car garage and swimming pool. The property is located in the Uplands community of Hapuna Estates and sits above Hapuna Golf Course’s #8 Fairway on a 1+ acre lot. The property sold for $6.955M in late August.

Bluffs #22 at Mauna Kea Resort sold for $15.05M after 363 days on the market. The 8,141 square foot custom luxury 4 bedroom residence has 2,750 square feet of outdoor entertaining space and an infinity-edge 25-meter pool. (Click Here) to view the detailed list of August sales within Mauna Kea Resort.

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).

Highlighted Property of the Month

Rarely does one of these units come available! Villa #22 at Mauna Kea Resort features 3 bedrooms, 2.5 bathrooms and almost 2,700 SF under roof, plus over 1,500 SF of outdoor lanai and deck; over 4,000 SF of indoor/outdoor living, situated on a knoll with ocean/sunset and coastline views over vacant HOA land.

This unit offers over sized rooms, a swimming pool, private gated courtyard, detached garage, and a short stroll to the Mauna Kea Beach Hotel and Kauna’oa Bay’s white sand swimming beach.Totally renovated in 2010, including replacement of air conditioning, addition of photovoltaic power, addition of 3rd bedroom, all new stone floors, countertops, electrical fixtures/switching, new cabinets, new plumbing fixtures/toilets, outdoor shower for primary bath, new pool deck and all new furniture/décor inside and out. Ready to move in; just bring your toothbrush! Excellent vacation rental! One of the best locations and products at the Mauna Kea Resort! (Click Here) to view the property details for this spectacular offering.

Local Events

2022 Ironman World Championship – Thursday, October 6 & Saturday, October 8, 2022

The Ironman World Championship will return to the Big Island for the first time since 2019 and in a new format with two race days: Thursday, October 6 – pro-women and Saturday, October 8 – pro-men. This format will be continued into 2023 as well. (Click Here) for details on the race and closure maps so that you can prepare for the traffic conditions to and from the resort and travel safely. Note that the athletes have priority during this event and vehicle traffic will be allowed as safety permits so be sure to allow extra travel time on both of these days.

For answers to questions not covered by the attached information, please call the Road Closure Hotline at (808) 334-3400 from September 28 to October 8.