The third quarter of 2018 brought a lot of action to Hawaii’s Big Island. Through it all, real estate sales are up from last year on the Kohala Coast. The new volcano eruption and forecasted hurricanes have ceased and given way to record clarity Hawaii Island bringing some of the best conditions in decades.
While home sales are down slightly as a whole on the Big Island of Hawaii, the Kohala Coast proves its resiliency, once again, with residential & condominium median sales price increasing over 6% and number of sales increasing 15% YTD from 2017. These statistics add to the healthy real estate market we have enjoyed over the past several years.
At the end of third quarter, Mauna Lani Resort had the largest increase in residential & condominium home sales among the Kohala Coast resorts with real estate transactions up 20% from last year. Mauna Kea Resort also increased 17% (40% if you include land sales) and Waikoloa Beach Resort was up 12%.
Special mention goes to Golf Villas at Mauna Lani increasing a whopping 250% in condominium transactions from last year! In addition, Fairways at Mauna Lani was up 125% and Villages at Mauna Lani was up 50%.
For more real estate statistics, see all our Big Island Bob dashboards here.
Things to Watch…
Both Kulalani at Mauna Lani and Palm Villas at Mauna Lani have lending available again after working through legal matters. Listings are up in both neighborhoods and we will be watching in the fourth quarter.
Hapuna Realty is proudly representing a new project at Mauna Kea Resort. In the third quarter, construction started at Hapuna Beach Residences consisting of 68 condominiums being converted from the hotel ocean front towers that were sold to a developer. This oceanfront project offers studio to 4-bedroom properties starting at $1.5 million. This is an extremely rare opportunity to buy beachfront, newly constructed condos on Hawaii’s Big Island. Even more rare to offer them on world renowned Hapuna Beach. Reservations are being taken and tours are conducted from the Mauna Kea Living sales office at the Hapuna Westin. In addition, new single-family home lots are available from .6 to 1.1 acres at Hapuna Estates. Views are breathtaking! Don’t miss this opportunity – call us today, click here to receive more information, or stop by our beautiful sales offices at Hapuna Westin or the Shops at Mauna Lani.
We are looking forward to wrapping up a very successful 2018 and helping our clients get in on some of the best real estate investing in Hawaii!