Mauna Kea Resort May Market Update: Sales and Trends in Hawai‘i’s Upscale Real Estate Market

Although many are speculating that the rising mortgage interest rates are going to soften the housing market, locally we have yet to see a shift in prices or demand. In fact, real estate prices on the Big Island continued to climb last month, according to newly released statistics.

After the Big Island market witnessed a unique transcendence in 2021, driven in part by pandemic-related mobility and flexibility around work, sales in 2022 are being restricted by low inventory, which in turn drives prices higher.

The South Kohala & North Kona statistics below compare April 2022 to the same month last year. The districts of South Kohala & North Kona encompass Mauna Kea Resort, Mauna Lani Resort, Waikoloa Beach Resort, Hualalai Resort, Kukio Golf and Beach Club, and Kohanaiki Private Club Community. 

Residential

Median price: $1,187,000 up 34% from $880,000.

Closed sales: 60, down 43% from 105.

Condominiums

Median price: $890,000 up 49% from $597,000.

Closed sales: 76, down 45% from 139.

Vacant Land

Median price: $1,275,000 up 199% from $426,250.

Closed sales: 17, down 64% from 47.

While real estate is more expensive today for those financing, demand remains strong in one of the most desirable places to own a property. Until the market sees more inventory, expect prices to remain near current highs.

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

April Sales

There were 7 sales within Mauna Kea Resort in April 2022.

Most notably, Mauna Kea Realty represented the Buyer in the off-market sale of Villa #13 which closed escrow for $5.1M.

There were two sales within Wai’ula’ula. Four-plex unit K201 sold for $2.4M and unit F202 sold for $2.55M.

A 28,586 square foot vacant lot in the Uplands community of Hapuna Estates sold for $1.275M.

Lastly, three (3) units at the Hapuna Beach Residences sold at a median price of $5.2M.

The Hapuna Beach Residences at Mauna Kea Resort are 68 whole-ownership condominiums ranging from one to four bedrooms in a variety of floor plans — some with pools, all with incredible ocean and coastline views located within a stone’s throw to one of the most beautiful crescent white sand beaches in Hawai’i. At this time, there are zero (0) units left for sale within the development. Please feel free to contact me for additional information regarding resale units and/or to tour the Hapuna Beach Residences.

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

Resort Offerings

Mauna Kea Realty is offering one of the last remaining building sites within the desirable Kauna’oa at Mauna Kea Community. This homesite overlooks the private par 3 Weiskopf practice course and fronts on the 13th fairway of the Mauna Kea Golf Course with views of the Kohala Mountains. This level, graded lot has a building envelope area of approx. 29,827 square feet.

The owner has obtained preliminary Kauna’oa community and County of Hawaii approvals and permits for a 5 bedroom 5 1/2 bath home with special features such as a fitness room, large private interior courtyard with swimming pool, spa, and sun deck. House plans by architect Stephen Green are included. SGA designs reflect the highest degree of creativity, eloquence and innovation combined with a perfect balance of indoor-outdoor living.

In addition to the privileges offered by the Mauna Kea Beach Hotel and Westin Hapuna Beach Hotel through the Club at Mauna Kea Membership program, homeowners at Kauna’oa can enjoy the private Kauna’oa Club amenities including a private fitness center, pool, spa, meeting room, concierge services, locker room with steam, sauna and massage rooms. Kauna’oa homeowners also enjoy the privilege of accessing the white sand beach, golf clubhouse and hotels via private golf carts. (Click Here) to view the property details and renderings for this spectacular offering.

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

Tequila & Cigars – Friday May 20 – Parker Cottage at Mauna Kea

Dinner, signature cocktails, a tasting of Codigo 1530 tequilas and mezcals, and a varied selection of cigars presented by Rick Lilley, Codigo Brand Ambassador, and cigar sommelier Elaine Lilley. Tasting stations featuring the unique cuisine of Mauna Kea Chef Tournant Jorge Granda. Chef Granda will present his take on Peru’s ‘Nikkei’ cuisine, a blend of traditional Peruvian and Japanese. Nikkei started with the first wave of Japanese migrants in Peru, and over many generations has developed into a distinct cultural cuisine.

$120 PER PERSON – Plus 18% Gratuity and Tax

For Reservations, email
Dining@MaunaKeaBeachHotel.com

*Disclaimer: This is not meant as a solicitation, it is for informational purposes only. If you would like to be removed from this mailing please let me know and I will do so.