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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!

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Brooke Derby R(S)

October 8, 2012

Pam~ I’m glad to hear that the Palm Villas is finally able to secure financing on their units now that the recent suit between the builder and homeowners association has been settled. Good News!

Pam Deery R(B) Big Island

October 10, 2012

Yes Brooke; with the inventory so low, it is nice to have options. There are extensive repairs as part of the settlement agreement however, and as I noted yesterday on my morning run, they are well underway.

Brooke Derby R(S)

October 8, 2012

Pam~ I’m glad to hear that the Palm Villas is finally able to secure financing on their units now that the recent suit between the builder and homeowners association has been settled. Good News!

Pam Deery R(B) Big Island

October 10, 2012

Yes Brooke; with the inventory so low, it is nice to have options. There are extensive repairs as part of the settlement agreement however, and as I noted yesterday on my morning run, they are well underway.

Dan Fumento, R(S) and Marion Fumento R(S)

October 10, 2012

Yes, I’m seeing this a lot in other complexes. The pressure is slowly switching to the upside!

Dan Fumento, R(S) and Marion Fumento R(S)

October 10, 2012

Yes, I’m seeing this a lot in other complexes. The pressure is slowly switching to the upside!

Brooke Derby R(S)

October 10, 2012

Thanks for the update, Pam!

Brooke Derby R(S)

October 10, 2012

Thanks for the update, Pam!

Beth Thoma Robinson, R(B)

October 10, 2012

What’s also interesting is the distribution along the price spectrum. The median listing price is in the high $800,000s…and if you look at the 40 Mauna Lani condos sold in the past 12 months, the average price would be high $600,000s. That means the median price has jumped about one-third, and the lower end has almost disappeared.

It would be surprising to see any sales at Mauna Lani near or under $300,000–and yet that was possible only six months ago!

Beth Thoma Robinson, R(B)

October 10, 2012

What’s also interesting is the distribution along the price spectrum. The median listing price is in the high $800,000s…and if you look at the 40 Mauna Lani condos sold in the past 12 months, the average price would be high $600,000s. That means the median price has jumped about one-third, and the lower end has almost disappeared.

It would be surprising to see any sales at Mauna Lani near or under $300,000–and yet that was possible only six months ago!

Pam Deery R(B) Big Island

October 10, 2012

I agree; as the lowest price is currently mid $400k in Mauna Lani, I don’t see that happening. If one is looking for the price range of less than $400k, Waikoloa Resort is going to be the market.

Pam Deery R(B) Big Island

October 10, 2012

I agree; as the lowest price is currently mid $400k in Mauna Lani, I don’t see that happening. If one is looking for the price range of less than $400k, Waikoloa Resort is going to be the market.

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