Despite the news of volcanoes erupting and hurricanes approaching the Big Island, 2018 was a second strong year for Mauna Lani Point condo sales. Our skies are clear and views from these oceanfront condos are stunning now, but year to date Mauna Lani Point sales for 2019 forecast a much slower market, if typical yearly trends in the resort real estate market hold true. Could that be an opportunity for buyers?
Size + View = Price at Mauna Lani Point
As I have noted in past reviews of the real estate market at Mauna Lani Point, a turnover rate of half a dozen sales would be a typical year at this oceanfront condominium community, with those sales distributed between one-, two- and three-bedroom residences. The sales are also strongly tied to the winter visitor season, with only a single sale likely in the second half of the year.
In 2017, there were three sales below $700,000 (two 1-bedrooms and a smaller 2-bedroom with no view of the ocean.). And on the other end of the spectrum, two 3-bedroom units sold, with one garnering over $3 million.
The distribution of sales looked quite different in 2018, with the lowest price sale at $966,200. Three of the four 1-bedroom properties sold for $1.2 million, and the highest price for a 2 bedroom was an even $2 million. No 3-bedrooms were sold at Mauna Lani Point:
Many of our resort properties offer a wide range of price points within a single community. As elsewhere, Mauna Lani Point condo prices depend on three factors: number of bedrooms, whether the view is of the ocean or mountains, and to a lesser extent the degree of updating, as these buildings were constructed in 1988.
Current Mauna Lani Point Condos for Sale
As I mentioned, only two Point condos have sold so far in 2019. E202, a top floor villa, sold for a respectable $2.1 million. Another 2-bedroom, ready for renovation, had been on the market for $1,350,000 last year, and sold before listing for $1,200,000.
There are currently only six condos for sale at Mauna Lani Point. A single 1-bedroom listing, and five 2-bedrooms asking $1,499,000 to $2,165,000…and if you have read this far, that range of asking prices should not surprise you.
The only question is which one fits your budget, your lifestyle, and your aesthetics. Give me a call if you’d like to discuss the options.