Mauna Lani is ending a booming year in condo and single family home sales for 2014 with strong indications of 2015 gaining speed and price increases.
The lowest list price for a condo in Mauna Lani is currently $535,000; a 3 bed, 2 bath ground floor in Palm Villas. (MLS# 269272). The same floor plan sold in 2013 for $405k at lowest point and has climbed since to the most recent closing price of $483k (1/2014).
Palm Villas Pool & Rec
The highest price for a condo in Mauna Lani is a top floor 3 bed, 3 bath Mauna Lani Point unit listed at $3.450M (MLS# 271160). This is one of only two penthouse units in all of the Point and boasts a commanding view, as one would expect at the price point.
Point Penthouse View
This is only an indication as the prices have risen nearly across the board. The “popular priced” properties are usually the first to rise due to the demand and lack of inventory.
There are 20 pending condo sales with 16 of those being new construction at Kulalani due to be completed over the course of the next several months. Kulalani releases 2 buildings at a time for pre-sales and has been able to get all sold prior to completion so far. As they continue to build, they also do raise their prices, albeit slowly and within reason, in my opinion.
Bare lots in the resort are currently ranging from $425k for approx. 19,000 sq. ft. in Keikalani (MLS# 267971) to $6.995M for a beach/oceanfront 1.6 acre lot in Pauoa Beach (MLS# 277481). Land has gained stride with 9 sales in 2014 and one pending sale. As the prices increase on condo and residential properties, it is “making sense” again to many people who can’t find what they want or at the price they are willing to pay.
Mauna Lani Beach Club
A hui hou…living and loving my resort life!