As the inventory of property for sale shrinks in desirable Kohala Coast communities, such as those at the Mauna Kea Resort, it becomes more of a challenge to find “best buy” picks–and sometimes they disappear before my eyes. Honestly, at the moment, I see more opportunity for the value-conscious real estate buyer across price points in Mauna Kea real estate than at the Mauna Lani Resort.
Kumulani condos offer ocean views at an entry level price for Mauna Kea Resort
At the entry level, the four remaining developer units at Kumulani are priced from $550,000 (MLS# 235950) to $795,000 (MLS# 235915) All of the Kumulani condos are spacious two bedrooms (either 1,375 sq. ft. or 1,541 sq. ft.). Importantly, all of them have ocean views for a price point that Mauna Lani would give you only golf-view options, which makes any of them a “best buy.”
The tradeoffs—finishes are more modest (Corian rather than granite) and the pool area is basic at best. Purchasers would certainly want to sign up for at least the social membership level of the Mauna Kea Amenity Program.
Privacy! Wai’ula’ula Building N seen across water feature of Hapuna Golf Course
If you need three bedrooms and luxury finishes, and want a workout facility next to the pool for under $1 million, you can upgrade to a condo at neighboring Wai’ula’ula. Of the two units listed for $999,000, my pick is N201 (MLS# 241685).
Although the ocean view overlooks a few rooftops rather than just the Hapuna Golf Course, the building is perhaps the most private in the Ridge and the condo has really nice furnishings. Owners who bought from the developer in 2006-2007 paid over $1.5 million unfurnished for Wai’ula’ula condos…and for about that price today you can get a furnished villa with its own pool (MLS# 240082).
Speaking of the $1.5 million price point, my other best buy at the Uplands at Mauna Kea was a home in Moani Heights…but others felt the same and it was in escrow within weeks of coming on the market.
Ahh…and don’t forget the wind can blow at the Uplands when the trades are up! The effect is reduced makai (ocean side) of the highway, where Mauna Kea real estate prices rise as elevation falls. Maybe that’s why two of the units for sale at the Villas at Mauna Kea are finally under contract after more than a year on the market. Of course, dropping the price from the $3 million range (in 2009) to $1,490,000 will also have an effect. There is one more on the market, but priced at $1,880,000, and in need of updating, not a best buy.
The Kauna’oa “Country Club” amenity area even has private wine storage for owners
Among my $2-$2.5 million resort real estate best buys was a home at Mauna Kea Fairways South that quickly got an offer. In that price range, the best buy today has got to be Kauna’oa 10A (MLS# 221622)…or should I say, the best buy almost in the $2 million price point after last Monday’s price reduction from $2.5 million to $1.9 million.
I had clients drooling over this one back in 2009 when the price was reduced from $3.9 to $2.5 million. The developer hasn’t sold a residence since June of last year, which is curious since a vacant lot has already closed this year for $2,250,000, and two lots are in escrow. Kauna’oa seems to be the hottest spot in the resorts for vacant lots at the moment…but best buys in resort lots would be another post for another day.
Finally, a $700,000 price reduction on this 6 bed/6.5 bath single family residence (MLS# 235538) at Mauna Kea Fairways North brings it into the best buy category at $3,250,000. With over 2,000 sq. ft. of lanai, a garden filled with koi ponds, a graciousness of architecture, and ocean view location on the Mauna Kea golf course, this wraps up my current list of best buys in Mauna Kea real estate!