The Beach Club at Mauna Lani
46 Mauna Lani condominiums sold during 2010 with 14 condos currently under contract throughout the Mauna Lani Resort, and 6 closed in the month of December alone. That leaves an average of 3.3 sales per month in the first 11 months of the year.
Yes, I am a numbers person…what the numbers represent, however, is that the market is indeed changing, along with the prices of course. It is no mystery that the drop in prices has spiked the rise in recent sales.
Ka Milo has begun construction of their next phase after nearly three years of calm; No Hona Kai is expected to launch sales on their single family residential golf front project between The Mauna Lani Hotel and the Pauoa Beach/Fairmont Hotel (many of which are nearly complete); and Kulalani is due to start breaking ground on their second half of golf front condos as well after a three year hiatus.
When showing property to a buyer client this week, I was again enlightened on how our market is still dropping, and would not be “at the bottom†until this coming summer! I prefer to remain optimistic, and work with the facts and figures in front of me now.
Clearly, the numbers of buyers and sellers who have chosen to buy and sell their properties in the current market at the current prices have increased steadily throughout the past year, and are actually lining up for the next several months. While it is our “selling season†it appears they may be working on the same projection that I am…that the market has indeed stabilized, and if they want to participate in the current low-interest loans and prices, now is the time.
Living and loving the resort life!
Beth Thoma Robinson R(B)
January 15, 2011
It is interesting that this particular prospective buyer still has the idea that the market will drop. Two years ago, and even a year ago, the supply/demand balance supported that view. But as you so well explain for Mauna Lani, at several projects there is little to no supply (listings) as we head in to the season that typically shows the most demand. I have several clients who are kicking themselves because they missed the opportunity in the second half of this year. Just means you and I will have to work even harder to ferret out those super deals.
Beth Thoma Robinson R(B)
January 15, 2011
It is interesting that this particular prospective buyer still has the idea that the market will drop. Two years ago, and even a year ago, the supply/demand balance supported that view. But as you so well explain for Mauna Lani, at several projects there is little to no supply (listings) as we head in to the season that typically shows the most demand. I have several clients who are kicking themselves because they missed the opportunity in the second half of this year. Just means you and I will have to work even harder to ferret out those super deals.
Chuck Harris
January 16, 2011
It seems like the Hawaii housing market is beginning to stabalize and perhaps looks healthier than the real estate market in other parts of the country. In Minnesota I’m still predicting another 18 months of decline before prices start to stablize.
Chuck Harris
January 16, 2011
It seems like the Hawaii housing market is beginning to stabalize and perhaps looks healthier than the real estate market in other parts of the country. In Minnesota I’m still predicting another 18 months of decline before prices start to stablize.
Pam Deery R(B) Big Island
January 17, 2011
Chuck; It could be that your market is “seasonal”? LOL sorry, but we are pretty much consistent temperature (82-84 and sunny) year round. I can’t help but think this is part of the draw… I do however wish you luck and hope your market stabilizes soon as well.
It seems the colder the mainland gets, the busier we get. Must be really cold in Canada right now…with the number of buyers we are seeing from our neighbors to the north.
Pam Deery R(B) Big Island
January 17, 2011
Chuck; It could be that your market is “seasonal”? LOL sorry, but we are pretty much consistent temperature (82-84 and sunny) year round. I can’t help but think this is part of the draw… I do however wish you luck and hope your market stabilizes soon as well.
It seems the colder the mainland gets, the busier we get. Must be really cold in Canada right now…with the number of buyers we are seeing from our neighbors to the north.
Kulalani at Mauna Lani Resales Have Begun « Hawaii Real Estate Market
March 8, 2011
[…] I do feel it is a bit high in price, with the market conditions showing more pending sales than active listings in this price range, this beautiful home will be […]
Kulalani at Mauna Lani Resales Have Begun « Hawaii Real Estate Market
March 8, 2011
[…] I do feel it is a bit high in price, with the market conditions showing more pending sales than active listings in this price range, this beautiful home will be […]