Mauna Kea Resort May Market Update: Trans-Pacific Travel Update & Information Enclosed
As the real estate industry and our professional practices adapt to this new normal, the Kohala Coast real estate market continues to make strides despite the lack of Buyers physically being present on island. The limited number flights and the 14-day mandatory quarantine for incoming passengers has nearly abolished tourism at this point in time. Last year at this time there were approximately 30,000 visitor arrivals to the state of Hawaii per day. Presently, statewide there are approximately 400 arrivals per day. We are, however, witnessing a number of clients that had been exploring the idea of purchasing property pre-COVID-19, that are now actually purchasing within Mauna Kea Resort and other locations along the Kohala Coast (from afar).
Within the last month, two (2) more properties sold within Mauna Kea Resort bringing the year-to-date total to 15 sales, only one (1) less sale then through the same period of time last year. In addition, four (4) properties within the resort have gone under contract within the last month. Last week, a resort condominium received two offers in less than 48 hours on the market and is now in escrow. As demand appears to be increasing, so does the trend of Buyers purchasing property “Sight Unseen” or without actually physically seeing the property. It appears there is a lot to be said about the serenity and safety of the Kohala Coast, that during a global pandemic and economic crisis, there is a considerable amount of desirability and demand for resort properties and “turn-key” homes and condominiums within the “bubble” of Mauna Kea Resort and the Kona-Kohala Coast. The million-dollar question is: When will homeowners and visitors be able to come back to the islands without having to quarantine in place for 14 days…
The mandatory 14-day traveler quarantine remains in effect through July 31st, for those traveling to Hawai’i from out of state. We are seeing some progress as Governor David Ige recently stated that the quarantine order for inter-island travel will be lifted on June 16. Lifting of the interisland quarantine brings optimism for Hawaii businesses. There will, however, be new procedures for inter-island travel. The governor said that before departure, passengers will have to go through thermal screening. Anyone with a temperature of over 100.4 degrees will not be allowed to board the plane. This procedure will be implemented on the same day the quarantine order is lifted. The governor offered no timeline for when the trans-Pacific quarantine might be lifted or how air travel might work once it is, indicating that safely reopening trans-Pacific travel to Hawaii would likely require a combination of testing, screening, and tracing. The administration is working with the state Department of Health, the state Department of Transportation, and the University of Hawaii to put a system in place to reopen out-of-state travel to Hawaii as soon as possible. While some in the industry have speculated the governor could lift the trans-Pacific quarantine as early as July 15, others have said that date could be pushed back due to caution over recent spikes in the number of COVID-19 cases in many states.
Below is a list of resources to help you stay up-to-date on the latest rules and regulations regarding travel. You can find updated information & additional resources at the links below:
State of Hawaii’s Safe Travels System
- Website: https://safetravels.hawaii.gov/
State of Hawai’i Department of Transportation | Latest Information On COVID-19
State of Hawai’i Department of Health | Daily News Digest & Resources
- Website: https://hawaiicovid19.com/
County of Hawaii | COVID-19 Latest Information & Updates
Find below the Mauna Kea Resort’s May Real Estate Market Update highlighting May sales, resort offerings, and local trends. I hope you find this information interesting and helpful.
There were two sales within Mauna Kea Resort in the month of May.
Mauna Kea Realty successfully represented the Seller of Fairways South #23 and worked directly with the Buyer. The property sold in late May for $2.925 million. Our firm was able to put the property under contract before it hit the market and closed escrow at a price greater than the average sale price of $2.85M for similar homes within the Fairways South dating back to the start of 2019. (Click Here) to view the property details.
Kumulani J-4 sold in mid May for $908,850. Located in the Uplands community of Kumulani, #J-4 is a 1,541 square foot upper level unit comprised of 3 bedrooms and 2 bathrooms. The unit offers sweeping ocean views and has a large wrap around lanai. (Click Here) to view the property details.
New On The Market
Several single family homes and condominiums were re-listed this month after taking a temporary rest from the market and MLS. Make sure to view the complete list of available properties below. In addition, two brand new listings hit the market last month.
Mauna Kea Realty recent listed a Duplex Villa within the Uplands community of Wai’ula’ula. Wai’ula’ula #345 is being offered for $1.995M. The popular Villa floor plan with pocket doors to the lanai creates indoor/outdoor living at its best. Dual master suites that conveniently connect to the lanai, with one master having a private outdoor shower and the other a jetted tub. This 3-bedroom 3.5-bath duplex unit has an interior of over 2,500 square feet which creates the feel of a single-family residences with its own pool, spa, two car garage, and fully fenced yard with close proximity to two of the world’s best white sand beaches at Kauna’oa Bay and Hapuna Beach. (Click Here) to view details of this new listing.
Hapuna Estates at Mauna Kea Resort Lot #8 is an opportunity to purchase a new home to be built in the Uplands. Lot #8 boasts fantastic ocean, golf and mountain views. A custom home with 5 bedrooms, 5.5 bathrooms, 3-car garage and swimming pool sits above Hapuna Golf Course’s #8 Fairway on a 1+ acre lot. Expected to complete in spring 2021. Please contact me for additional details and renderings. (Click Here) to view the property details of this new listing.
HAWAII ELECTRIC COMPANY SELECTS 3 BIG ISLAND PROJECTS IN QUEST FOR RENEWABLE ENERGY: On June 2nd, HECO announced it had selected two projects in the district of South Kohala in addition to 14 other solar-plus-storage or standalone battery storage projects across the state in the latest phase of the company’s clean energy transition for Oahu, Maui and Hawaii Island. The two projects, one of which will be located above Queen Kaahumanu highway in the Puako area, the other in Waikoloa Village, will produce 206 gigawatt/hours annually, which is enough to power 36,000 average Hawaii Island households. Further, it will avoid 144,000 tons of carbon emissions that would have been produced making the same amount of electricity with fossil fuels. “It’s like taking 32,000 cars off the road,” the company said in a statement following HECO’s announcement. The projects are expected to be online in 2023, but that depends on the length of the economic disruption caused by the COVID-19 pandemic, delays in bringing the projects online are possible, the release stated. The utility stated it expects to reach the mandated 30% renewable energy goal by the end of this year with plans in place to exceed 40% by 2030, 70% by 2040 and 100% clean energy for electricity by 2045. (https://www.westhawaiitoday.com)
VACATION RENTALS COULD REOPEN SOON: As a group of transient vacation rental owners on four islands threatened a $1 billion lawsuit if they’re not allowed to reopen, Kauai was approved Wednesday for a new rule allowing that county to open the rentals to those not under quarantine and Gov. David Ige said his administration is working with other counties to see if it’s appropriate for them to follow suit. Hawaii County Mayor Harry Kim said late Wednesday he’s drafting a similar rule opening up legal STVRs to those not under quarantine. The rule, which will also allow slightly larger crowds to congregate indoors and outdoors, will be submitted to Ige today and would take effect, upon the governor’s approval, June 16. (https://www.westhawaiitoday.com)