Unexpected Low Mauna Lani Condo Inventory For Big Island Buyers
The condominium market at Mauna Lani Resort has changed, the prices are up and the inventory is down.
Current Active Condos at Mauna Lani
There are currently 41 condos on the market throughout the entire Mauna Lani Resort ranging from $479,000 for a 2 bed/2 bath in The Fairways at Mauna Lani (MLS# 247728) to $2.7M for a 2 bed/2 bath in The Point at Mauna Lani boasting a beautifully remodeled unit with golf course and unobstructed ocean views (MLS# 252314).
Mauna Lani Condo Sales Statistics
There have been 33 condo sales to date in 2012; 13 of which were reported since 6/1/2012, with 9 new pending sales at the time of this blog post (10/04/12).
To put this into perspective, 59 sales of condos were reported in 2011 evenly split between first and second half of the year. There was more inventory and the average days on market was longer allowing buyers the luxury of time and inventory from which to shop.
It is interesting to note that there are no active listings at the Golf Villas. At the same time, the Palm Villas (same builder) finally is able to secure financing on their units due to the fact the recent suit between the builder and homeowners association has finally settled.
What Does This Mean For Buyers?
We are experiencing calls and emails from frustrated prospective buyers who apparently anticipated the same level of inventory as last fall; with more of a buyer’s market. Many sellers are no longer willing to reduce their price with the arrival of fall and with the increased level of interest.
I am always happy to discuss the options from the perspective of “local knowledge” of which seller is motivated however. If you are interested in learning more about the resort communities along the Kohala Coastline, call me…I live and love the resort life.
A hui hou!