What’s Hot at the Mauna Lani Resort? Popular Price Ranges for Resort Condos
The condo market is hot at Mauna Lani Resort…in the “popular price range” of $500k – $700k with eight pending sales and five recorded/closed sales since January 1, 2014. The $800k – $1.3M is somewhat slower, with 9 pending sales and two recorded sales so far this year. (I did not include the 14 pending sales at Kulalani in these numbers as they have been pending for 6+ months while construction is underway.)
Ka Milo tops the list of what’s hot in the $800k+ range with 5 of the pending sales and one recorded sale since Jan. 1, 2014. The current inventory ranges from $995,000 for a 3-bedroom paired home (MLS# 269683) to $2.3M for a single family residence with a pool in the yard (MLS# 266846).
A Villages Lehua floor plan, with a list price of $795k, which has been on the market for nearly 2 years, finally went into escrow today. The location of this particular unit was the reason for the reduced price as it is next to the shopping center and grocery store.
Available listings in the Villages start at $834k for a Lehua (2,174 sq. ft. 3 bed/3 bath) (MLS# 259570) and $1.050M for a Maile floor plan (2,752 sq. ft reverse living 3 bed/3 bath) fully furnished on the golf course with Maui and ocean views (MLS# 266113).
It is good to see movement as the Villages have been somewhat slow since last summer. I feel a turn is coming for this popular and very well-built complex.
Kulalani has 14 pending sales as construction progresses after a 5-year stall due to the recession. The most recent release of pre-sold inventory was this past week with one of the six condos in building 8 already under contract. (There is a 30-day mandatory release to owner occupied in three of the six condos of this release.)
The prices have increased, modestly with this latest release. Building 8 is on the golf course side rather than the “garden” side of the complex as the past two buildings were. The increases were $60k (2-bedroom end units) to $104k (3-bedroom in 6 plex buildings).
The developer does not negotiate prices. However, these are true value purchases with prices ranging $559k – $679k in the six plex building (MLS# 270980). The next four plex building has not yet been released. We will have to wait and see how much those increase with the next release.
Golf Villas & Palm Villas
Golf Villas and Palm Villas have reached a settlement between homeowners and the developer regarding repair issues, and are able to be financed. This has already made a change in the increased value for Palm Villas as prices rose considerably once the settlement was accepted.
Prices start at $535k in a 2 bed/2 bath in both the Palm Villas and the Golf Villas to $699k for a 3 bed/3 bath in Golf Villas (MLS# 265427). This is a good time to purchase in either of these complexes, which fall into the “popular price range.”
Mauna Lani Fish Ponds
A hui hou!
Living & loving my resort life!