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Market Intelligence

Mauna Kea Resort July Market Update: Fully Vaccinated US Travelers Can Now Bypass Hawaii’s Quarantine and Testing Requirements

As of July 8th, any U.S. visitors to Hawaii who possess one of three federally recognized vaccination documents from the U.S. and its territories can bypass quarantine and COVID-19 testing. The recognized vaccination documents include the official CDC vaccination record card, a printout from the federal Vaccine Administration Management System (VAMS), or the DD2766C form for military and Defense Department personnel.

With more travel restrictions being lifted, tourism continues to prosper, and the occupancy of Mauna Kea Beach Hotel will hover around 95% throughout July.

It has become apparent that the high-end of the real estate market on the Kohala Coast is strongly influenced by desire and location rather than cost and affordability. In the first half of 2021, we saw 39 closed transactions within Mauna Kea Resort totaling just over $105M in sales volume, which represents an 81% increase in sales volume from the first half of 2020 when we witnessed 20 sales making up $59M in sales volume, and a 232% increase in sales volume from the first half of 2019 when there were 18 recorded sales for $32M in volume.

mauna kea resort from above

The strong 2021 mid-year outputs below elucidate the unprecedented levels of demand in our market. We do not foresee a slowdown in demand. However, Mauna Kea Realty’s inventory of available properties within Mauna Kea Resort and along the Kona-Kohala Coast is very low. This is an opportune time for owners who may be considering selling to take advantage of a strong and bullish market.

Mauna Kea Resort Sales    

  • 2021 Q1 & Q2: 39 Sales     (95% Increase Year-Over-Year)     
  • 2020 Q1 & Q2: 20 Sales
  • 2019 Q1 & Q2: 18 Sales
  • 2018 Q1 & Q2: 22 Sales

Kohala Coast Sales Above $1M (District of South Kohala)

  • 2021 Q1 & Q2: 154 Sales   (214% Increase Year-Over-Year)
  • 2020 Q1 & Q2: 49 Sales
  • 2019 Q1 & Q2: 56 Sales
  • 2018 Q1 & Q2: 66 Sales

Kohala Coast Sales Above $3M (District of South Kohala)

  • 2021 Q1 & Q2: 31 Sales     (121% Increase Year-Over-Year)
  • 2020 Q1 & Q2: 14 Sales
  • 2019 Q1 & Q2: 4 Sale
  • 2018 Q1 &Q2: 17 Sales

Kohala Coast Average Sales Price (District of South Kohala)

  • 2021 Q1: $1.190M              (32% Increase Year-Over-Year)
  • 2020 Q1: $902K
  • 2019 Q1: $694K
  • 2018 Q1: $871K

Kohala Coast Total Sales Volume (District of South Kohala)

  • 2021 Q1 & Q2: $587M       (137% Increase Year-Over-Year)
  • 2020 Q1 & Q2: $248M
  • 2019 Q1 &Q2: $234M
  • 2018 Q1 &Q2: $310M

Find below the Mauna Kea Resort’s July Real Estate Market Update highlighting last month’s (June) sales, resort offerings, and local trends. I hope you find this information interesting and helpful.

stingray under water

June Sales

There were 3 sales within Mauna Kea Resort in the month of June.

Most notably, a home located in the Fairways South that was built in 1992 and remodeled in 2018 sold in late June for $7.825M. The 4,815 square foot, 4 bedroom 5.5 bath home located at Fairways South #16 was the second highest-priced recorded sale in the Fairways ever. Mauna Kea Realty represented the Seller and worked directly with the Buyer.

Furthermore, Fairways North #26 sold last month for $6.195M. The Seller purchased the 3 bedroom 3.5 bath home in 2019 for $3.225M. The Seller carried out an extensive remodel and expanded the footprint by approx. 500 square feet prior to putting the home on the market in March of 2021. The property sold after 22 days on the market. Mauna Kea Realty represented the Seller and worked directly with the Buyer.

Lastly, a 28,662 square foot vacant lot in the Uplands community of Hapuna Estates sold for $725K.

(Click Here) to view the detailed list of June sales within Mauna Kea Resort.

For a Complete List of Condominiums and Residential Properties Currently Available at the Mauna Kea Resort (Click Here).

For a Complete List of Vacant Land Properties Currently Available at the Mauna Kea Resort (Click Here).

mauna kea golf course big island

Highlighted Property of the Month

Mauna Kea Realty is offering a unique opportunity to purchase a new home in the prestigious private gated community of Kauna’oa at Mauna Kea Resort. Scheduled for completion in May 2022, “Hawaii Beach Hale” provides 4,787 square feet of single-level living with five bedrooms and six and a half bathrooms and 1,553 square feet of covered lanai situated on a site of over 33,000 square feet. Being built with a Hawaiian contemporary theme, “Hawaii Beach Hale” offers a unique layout with two separate outdoor entertaining areas. The primary outdoor space with its generous pool and spa, fire pit, and tiki torches overlooks the 12th fairway of the Mauna Kea golf course. Enjoy spectacular ocean and Maui views with the sound of the surf at Kauna’oa Beach, which is a short stroll or cart ride away offering easy access to the beach at Mauna Kea and all the amenities the Mauna Kea Resort has to offer. The builder, Brown Development, specializes in the custom design, construction, and sale of exquisitely crafted luxury homes on the islands of Maui and Big Island Hawaii. (Click Here) to view the property details and architectural renderings of the home.

Local Trends

HAWAII ISLAND CONDO SALES MORE THAN DOUBLE IN JUNE, HOME PRICES RISE 24%: Sales of condominiums on Hawaii Island in June were two-and-a-half times the number sold a year ago, while single-family home sales increased 65% and prices rose by at least 24%, according to statistics provided by Hawaii Information Service on behalf of Hawaii Island Realtors.

There were 106 condos sold on Hawaii Island last month, an increase of 147% from the 43 units that sold in June 2020, when the Covid-19 pandemic had slowed sales to a crawl. The median price of those condos was $465,000, which was a 24% increase from the $375,000 median price in June last year.

The median price of a single-family home in June was $465,000, which was a 24% increase from the median price of $375,000 in June 2020. That was based on sales of 272 homes, a 64.85% increase from 165 homes sold last year.

The highest price for a single-family home in June was $23 million for a house at Kukio Golf and Beach Club, and Kohanaiki closed a $19.5 million sale, a record for that private subdivision, which is located between the Kona airport and Kailua-Kona.

For the first half of the year, there were 1,625 single-family homes sold on Hawaii Island, an increase of 46.4% from the 1,110 homes that sold during the same period last year. The median price for the first half was $472,500, which was a 20% increase from the median price of $395,000 for the first half of 2020.

The median price of a condo in the first six months of this year was $480,000, which was 30% higher than the median price of $369,000 in the first half of 2020. The number of condos sold from January through June this year doubled to 687 units, an increase of 124% from 307 units sold during the same period in 2020. (www.bizjournals.com)

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