Neighborhood Profile
Most weekday mornings I can be found at my desk in the beautiful Mauna Kea Resort working away. When hotel guests stop by to say hello and talk real estate, they are typically surprised to find two bedroom condos, some on the fairway, all with ocean views, well under $1M. Today the asking prices for those Kumulani condos start at $550,000. Located within Mauna Kea Resort, Kumulani is an amazing value for tennis, golf and beach buffs.
April-June 2011
There’s been significant activity at Mauna Kea Resort lately. Here are the second quarter property sales:
1. $640,000; 2/2; Kumulani condo #B3; located on golf course with ocean view
2. $909,500; 3/2; Wai’ula’ula condo #M202; located on golf course with ocean and Maui views
3. $1,300,000; 3/3; Moani Heights residence #8; located on golf course with ocean and Maui view
4. $1,525,000; 3/3; Moani Height residence #9; located on golf course with ocean and Maui view
5. $2,600,000; 4/3.5; Kauna’oa condo #1A; ocean view
6. $2,400,000; Kauna’oa lot #6; located on golf course with ocean view
7. $1,500,000; Mauna Kea Fairways North lot #12; located on golf course with ocean view
8. $2,000,000; Mauna Kea Fairways South residence #3; structure is either a tear down or will be a demolition remodel with an outstanding ocean view
9. $1,350,000; 2/2.5; The Villas at Mauna Kea condo #37; original 1987 condition with ocean view
For the past two years, nobody was buying Kohala Coast, Big Island real estate. Well, a few people were, but so few that escrow companies, lenders and real estate firms lost many employees and agents. That all changed in December. Buyers are back, especially for affordably priced homes. Ours are typically second home buyers, but lately, it’s the locals who are buying. That doesn’t mean there aren’t any second home buyers. They are shopping too, and the Kumulani neighborhood is a good example of where they are buying. For a list of recent Kumulani sales, please email me a request.
Today I took a look at sold statistics in the North Kona and South Kohala areas. I’m hearing economists forecast the end of the recession by the end of the year.
I want to watch the sales statistics for upper end and luxury residential starting from January 2009 to see when the data will identify the market “bottom.” Some think we are there, and others are still skeptical. Let’s start with single family and condominium homes in the $1,000,000+ range:
| $1,000,000+ | Median Sales Price | Units Sold |
| January | $1,540,000 | 3 |
| February | $1,000,000 | 4 |
| March | $1,400,000 | 7 |
| April | $4,900,000 | 1 |