Mauna Kea Resort October Market Update: 2021 Q1-Q3 Kohala Coast Statistics and Insight Enclosed
Three quarters down, one to go. Although we were confronted by many uncertainties through the first 8 months of 2021, one thing is for certain; the Kohala Coast market is sustaining remarkable levels of demand driven by a scarcity of inventory and a newfound sense of urgency from Buyers eager to reserve their own piece of this Big Island oasis.
Hawaii is now reporting its lowest number of COVID cases in recent weeks. Lt. Gov. Josh Green believes the state could begin lowering COVID-19 restrictions in about two weeks. Green said that based on diminishing infection rates, the state could begin to return to normal very soon. As the holiday season, historically a massive driver of the state’s economy, approaches, Green emphasized a need to return to “normal” soon. Green recently said Gov. David Ige should reverse a statement he made earlier this year discouraging travelers from visiting Hawaii and signal to overseas tourists that the state is safe again.
The strong 2021 Q1-Q3 outputs below elucidate the remarkable 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 that is yielding record sales prices.
Mauna Kea Resort Sales
2021 Q1 – Q3: 53 Sales (83% Increase Year-Over-Year)
2020 Q1 – Q3: 29 Sales
2019 Q1 – Q3: 26 Sales
2018 Q1 – Q3: 27 Sales
Kohala Coast Sales Above $1M (District of South Kohala)
2021 Q1 – Q3: 216 Sales (125% Increase Year-Over-Year)
2020 Q1 – Q3: 96 Sales
2019 Q1 – Q3: 86 Sales
2018 Q1 – Q3: 91 Sales
Kohala Coast Sales Above $3M (District of South Kohala)
2021 Q1 – Q3: 51 Sales (122% Increase Year-Over-Year)
2020 Q1 – Q3: 23 Sales
2019 Q1 – Q3: 4 Sale
2018 Q1 – Q3: 19 Sales
Kohala Coast Average Sales Price (District of South Kohala)
2021 Q1 – Q3: $1.26M (36% Increase Year-Over-Year)
2020 Q1 – Q3: $923K
2019 Q1 – Q3: $688K
2018 Q1 – Q3: $805K
Kohala Coast Total Sales Volume (District of South Kohala)
2021 Q1 – Q3: $854M (120% Increase Year-Over-Year)
2020 Q1 – Q3: $389M
2019 Q1 – Q3: $343M
2018 Q1 – Q3: $422M
Find below the Mauna Kea Resort’s October Real Estate Market Update highlighting last month’s (September) sales, resort offerings, and market trends. I hope you find this information interesting and helpful.
There were four sales within Mauna Kea Resort in the month of September.
Most notably, a Halia Hale townhome in the prestigious community of Kauna’oa sold at the full list price after one (1) day on the market. The property received multiple offers.
Three of the September recordings were sales contributed to the completion of the Hapuna Beach Residences. 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, more than half of the units have closed escrow. Please feel free to contact me for additional information regarding available units and/or to tour the Hapuna Beach Residences.
(Click Here) to view the detailed list of September sales within Mauna Kea Resort.
New On The Market
Mauna Kea Realty is proud to announce the fourth offering by Greg Brown of Brown Development in the prestigious private gated community of Kauna’oa at Mauna Kea. “Makai Hale” is situated overlooking the private Weiskopf designed Par 3 Practice Course with sweeping golf course views out to the signature water feature. The property is located directly across the street from the path to the world famous Mauna Kea beach. Within seconds walk, bike or drive your electric vehicle to the famous white sand beach of Kauna’oa Bay providing all the amenities the Mauna Kea Resort has to offer.
Under construction and scheduled for completion in January 2023, “Makai Hale” provides 4,288 square feet of single level living with five bedrooms plus a media room and six bathrooms and 1,466 square feet of covered lanai situated on a site of close to 27,000 square feet. “Makai Hale” offers a unique layout with two separate outdoor entertaining areas. The primary outdoor space with its generous pool and spa, outdoor kitchen and tiki torches overlooks the golf course while the secondary interior courtyard space provides additional outdoor space to read, relax and enjoy.
Owners within Kauna’oa enjoy the benefits of the Kauna’oa Homeowners Clubhouse facility including a fitness center, pool, spa, indoor and outdoor massage hales, meeting room, concierge services and the private Weiskopf Par 3 practice course with no tee times required. In addition to the Kauna’oa amenities, owners will have the ability to join The Club at Mauna Kea with two levels of Club Membership to choose from. (Click Here) to view the property details and architectural renderings of the home.
GOLF REAL ESTATE ROARS BACK AS VACATION HOMES BOOM IN PANDEMIC: As interest in vacation homes skyrockets, buyers are rethinking life on the greens. (Click Here) to read full article from Bloomberg.