Aloha clients, friends and neighbors,

This December has been one of the best in the 17+ years I’ve been in Hawaii.  The weather is clear and crisp in the mornings and relatively wind free during the day which is a bonus for water activities.  Morning temperatures for our early morning walk/run is in the upper 60’s and afternoons are in the mid 70’s.  The pool is cold for our master’s swim group but after a few laps, it all feels just fine!

Clear skies continue as a result of the Kilauea volcano ceasing most emissions. What a far cry from this spring and summer where emissions and lava flows made the national news and beyond. I’ve never observed better air quality and I hope it remains. It’s a new world especially in the Kona real estate market and the Kohala Coast as well. You would never know we still have an active volcano on the island.

I always like to perform a year end real estate sales analysis comparing 2017 to 2018 for the Mauna Lani Resort and The Villages at Mauna Lani community as this community tracks most other condominium communities that feature no new sales in the resort.

Mauna Lani Resort Comparison YOY:

Total Gross Sales Volume:

2018-$121,346,442 (101 units) vs. $142,789,650 (86 units) in 2017. In 2017 there were several large sales which increased the gross volume total including the sale of site of the “M” development parcel (150 acres) at $9.750m. The most important stat was the unit volume increase-up +15%

Condominium Gross Sales Volume:

2018-Condominium sales volume $107,622,532.00 (95 units) vs. $85,099,650 (74 units) in 2017. Up +21% in volume and +22% in units sold. Condominiums comprised 88% of total sales in Mauna Lani in 2018.

Condominium Average Sale Price:

2018-Condominium-average sales price was $1,132,869 vs. $1,149,955 in 2017. Down slightly -1.5%.

Villages at Mauna Lani Comparison YOY:

-2017-gross sales volume $11,332,500 (10 units). $1,133,250 average sale price.
-2018-gross sales volume $12,754,000 (10 units) up +11%. $1,275,400 average sales price up +11%.

Mauna Lani and The Villages at Mauna Lani Stats:

Mauna Lani Gross Sales Dollar Volume 1-1-17 to 9-12-17 ($66,050,500.00)
Mauna Lani Gross Sales Dollar Volume 1-1-18 to 9-12-18 ($83,803,909.00) (+21% Year over Year)

Mauna Lani sales Unit Volume 1-1-17 to 9-12-17 (54 unit sales-primarily condominiums)
Mauna Lani sales Unit Volume 1-1-18 to 9-12-18 (76 unit sales primarily condominiums) (+29% Year over Year)

Villages Gross Sales Dollar Volume-1-1-17 to 9-12-17 ($5,986,500.00)
Villages Gross Sales Dollar Volume-1-1-18 to 9-12-18 ($11,594,000) (+48% Year over Year)

Villages sales Unit volume-1-1-17 to 9-12-17 (5 units)
Villages sales Unit volume-1-1-18 to 9-12-18 (9 units) (+44% Year over Year)

…

Lissette and I hope you have a great winter season!

We wish you health and happiness in 2019!!

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See you at the beach!

Written by Rick Oliver on January 28, 2019
Posted in: Real Estate | Tags: Hawaii Real Estate, Mauna Lani, property sales, stats