Mauna Kea Condos For Sale – Reduced Inventory Along the Kohala Coast?
Some of my savvy clients recently asked me to examine the latest market activity for condos/villas at the Mauna Kea Beach Resort.Â There are really only 4 condo/villa communities in Mauna Kea. Oldest to youngest are: The Villas and Kumulani withÂ Wai’ula’ula and Kauna’oa, both built in 2006.
Asking $895,000, (MLS# 245288) the most expensive Kumulani unit for sale has outstanding ocean views
Kumulani, located mauka of the highway, has the lowest pricedÂ product at the Mauna Kea Resort for sale, but don’t let that fool youâ€”the community is peacefully surrounded by fairways and theÂ ocean views areÂ TO DIE FOR!!
Here’s what’s been happening at Kumulani:
- 3 units have received offers in the lastÂ 28 days
- 4 units have sold in the last 6 months (since 12/23/10)
- “Zero” sold the previous year (6/1/09â€”6/1/2010)
- Of the six thatÂ sold in 2007/2008, 3 were valued at over $1.1M!!
- 4 units are still available; 3 are developer units
We want our Mauna Kea real estate buyers to have every opportunity to own the property of their dreams, but don’t wait too long…I have a feeling that once thoseÂ Kumulani developer units go, there will be fewer sellers stepping forward to take their placeâ€”which means depleted condo inventory at Mauna Kea. The big question is, will we see demand and/or prices start to increase?
We are watching buyers snatch up prime inventory in the higher end resort communities like Mauna Kea Resort, Mauna Lani Resort, and the Waikoloa Beach Resort. At these great prices, access toÂ unique amenities, andÂ a pristineÂ beach like Kauna’oa Bay at Mauna Kea, who wouldn’t want to buy their own slice of Mauna Kea life?