Fairways & Mauna Lani Resort Overview
Fairways: As we hit the half way mark of 2015, closed sales in The Fairways total four as compared to nine for 2014. There was one closed sale and two new listings for the month of June. The closed sale was unit #605 (see the Market Dashboard for list and sale prices). The new listings are unit #1304 featuring two bedrooms, two bathrooms, 1,646 square feet listed at $635,000 and unit #2005 featuring three bedrooms, two and a half bathrooms, 1,933 square feet, now listed at $649,900. As of the time of this report there are seven active listings in The Fairways.
Mauna Lani: If you’ve kept up with my real estate reports for the past few months there really aren’t any surprises as we close out the first half of 2015. Mauna Lani real estate sales are behind 2014’s closed sales by about 15% (39 for 2015 vs. 46 for 2014). Risking sounding like a broken record, there are more to these numbers when you look a little deeper. 2014 saw a number of foreclosed/short sale/distressed and lower priced properties add to the sales numbers but ultimately brought down the overall values. 2015 has seen far less of these types of sales and in return Mauna Lani Resort as a whole has a median sale price of $1,100,000 for the first six months of this year compared to just $737,500 for the same period last year.