Fairways & Mauna Lani Resort Overview
Fairways: The momentum that saw April close the first three units of the year in The Fairways didn’t carry over to May. In fact, there were no closed sales for the month. Inventory for The Fairways is still on the low side with only 5 units under “Active” for sale status. The single new listing for May is unit #402. This is the large three bedroom floorplan with two and a half baths and 1,933 square feet. Before the printing of this report there was also another listing (officially in June) listed by MacArthur Sotheby’s International Realty. This unit, #2005, is also the large three bedroom, two and a half bath unit with 1,933 square feet, backs to the pool and is bank owned. Please let me know if you or someone you know is interested in a Fairways property.
Mauna Lani: As we’ve seen for most of the year so far, Mauna Lani’s sales numbers are lagging behind 2014 by about 18% (32 closed sales for 2015 vs 39 for 2014). Over the past few month I’ve touched on a few possible reasons for the lag (lack of “distressed” bank owned and short sale properties) as well as highlighted some bright spots in the market (properties that had been on the market for years selling at close to asking price). Looking at the sales data, I still hold the position that the real estate market in Mauna Lani is stronger this year than last due to the types of properties selling, shorter days on market and increasing median sale price.