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.

Another neighborhood with ocean views available at respectable prices is Sunset Ridge in Waikoloa Village. Being outside the resort and further away from the beach is the downside, but the upside is recently built, single family, three bedroom homes with ocean views, and homeowner association dues of just $500 per year.  Today these homes are priced at $425-650K.

Waikoloa Village is not to be confused with Waikoloa Beach Resort.  The resort is located about ten minutes down the hill from the Village entrance.  Waikoloa Beach Resort has a wide selection of lovely condominiums, but no single family homes.  Today the Waikoloa Beach Resort condos are priced $275K to $2.75M.

Included in the annual Waikoloa Village homeowner association dues are discounted green fees on the neighborhood golf course, use of tennis courts, and swimming pool.  At the association website read the Village newsletter and official association documents; learn about the Golf Club, the long list of Village social and charitable organizations, and the businesses that serve the Village.

Yes, some Sunset Ridge homes were built in the 1990s, and their asking prices are lower.  If an ocean view is what you are looking for, be sure to first consider the homes built in 2007 and 2011.  “Contact me” and ask for a specific list of the newer built Sunset Ridge homes.

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

Long time resort visitors are recognizing the attractive current property values within the resort. If you do not need an ocean view, the deals can be even better at the Mauna Lani and Waikoloa Beach Resorts.

The Kumulani at Mauna Kea #E2 is still available as of this writing for $685,000.  Yes, it has a very nice ocean view!  Take a look:

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

Here is the sales data for Kona Kohala area homes during the same period in the $500,000 to $1,000,000 range:

$500K-$999K	Median Sales Price	Units Sold
January	$600,000	15
February	$644,500	14
March	$540,000	5
April	$600,000	5

I will share future sales data here and together we can discuss the emerging trend.  While “trend spotting” is entertaining and hopefully helpful, my number one concern continues to be interest rates.  Buying with the best interest rate is far more important than buying at the perceived bottom of the market regardless of rate.

Assuming today’s rates are a good deal, what are Big Island Hawaii upper end and luxury neighborhoods to watch? 

Over $1,000,000, at Mauna Lani Resort, The Point ocean view condos remain popular.  The oceanfront location can take the edge off the 1980s interiors.

In Hualalai Resort just north of the airport, there are more luxury homes on the market now that at any time in the resort’s history.  Consequently, there is a nice selection of beautiful single family home under $10,000,000.

Not on the “deal” list but definitely worth a look if you prefer the most prestigious address on the Big Island: The Bluffs at Mauna Kea Resort #15.  This is only the second time a home in this neighborhood has been marketed on the open market.

Under $1,000,000 the neighborhoods to watch are the Kumulani condos at Mauna Kea Resort.  There are still a couple of good developer buys.

At Ka Milo in Mauna Lani, the developer is very motivated and is offering a duplex style single story unit with a two car garage around $600,000.

Hali’i Kai at Waikoloa Beach Resort remains one of my favorite entry level resort neighborhoods.  Its oceanfront pool club is outstanding.

These neighborhoods feature beautiful tennis and golf facilities, as well as access to the best beaches on the island.  For more details or photos, please ask.