Market Trends

Mauna Kea Resort March Market Update: Overview of New Home Construction on the Kona-Kohala Coast

As we round out Q1 of 2023, the scarcity of quality inventory continues to be one of the biggest challenges in the resort housing market on the Kona-Kohala Coast. However, we are witnessing a number of homes that are currently under construction coming on the market. These homes are being offered brand new, fully completed and in move-in ready condition.

A large portion of the existing homes on the Kohala Coast are multi-generational properties, meaning they stay within one family for decades and rarely change hands. As demand grows for real estate in less-dense, clean, and environmentally healthy locations (like Hawaii) with more overall space and year-round outdoor living to enjoy with loved ones, contractors and investors are responding with new construction.

There are several benefits of buying a new home in Hawaii. Foremost, many existing homes require time intensive construction projects or renovations which can be extremely challenging and stressful for owners who live thousands of miles away during certain times of the year. With a newly constructed home, a Buyer will assume no deferred maintenance. For the most discerning Buyers, the convenience of “move-in ready” is paramount. Other benefits of buying a new home include the protection from a new home warranty, living with modern floor plans and design qualities, having high-rated energy efficient systems and appliances, and living in a newer if not brand new community with desirable amenities.

Hawai’i Life Real Estate Brokers CEO Matt Beall recently stated in a Luxury Market Report, “Our affluent clients not only know what they want, but what they don’t want. They want the highest quality. The best of the best. A second home with stunning views that is fairly new if not new construction. They do not want homes that require renovations. They are not in a hurry. And they are patient and willing to wait for a property that fits their parameters.”

Below please find an overview of new homes currently available on the Kona-Kohala Coast that are under construction, or ready for occupancy.

Mauna Kea Resort

Five (5) of the total seven (7) homes for sale within Mauna Kea Resort are currently under construction and are being offered move-in ready upon completion. Prices range from $7.75M to $22.9M for a newly constructed single-family home within Mauna Kea Resort.

Mauna Lani Resort

There are four (4) brand new homes, (3) currently under construction and (1) completed, being offered for sale within Mauna Lani Resort ranging in price from $4.6M to $14.9M.

Kukio Golf and Beach Club

There are three (3) brand new homes (currently under construction) being offered for sale within Kukio ranging in price from $9.25M to $16.95M. All three (3) of these homes will be ready for occupancy this year, most notably, a stunning new oceanfront home is slated for completion in Q4 of 2023.

For additional information and to learn more about all new homes currently being offered for sale along the Kona-Kohala Coast please feel free to contact me.

Below please find the Mauna Kea Resort’s March Real Estate Market Update highlighting last month’s (February) sales, resort offerings and local events. I hope you find this information interesting and helpful.

February Sales

There were no sales within Mauna Kea Resort in February of 2023. Last month was the first time since February of 2019 that there were no sales in one calendar month 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).

Local Events

TROPICAL PAWS: Hawaii Island Humane Society will be holding their 25th Anniversary Tropical Paws Event which supports their ongoing efforts on March 25, 2023.  The event will be held at Four Seasons Hualalai Resort. A fun evening for a great cause with cocktails, dinner, auction, and adoptable pets.  (Click Here) for details and to buy tickets.

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