Real Estate Market Report – Kauna'oa at Mauna Kea Resort

Last week, I picked the price reduction to $1,900,000 on a developer town home at Kauna’oa as one of my current best buys in Mauna Kea Resort real estate. The point of a loss-leader is often more to get publicity and increase traffic than to sell that particular property. That turned out to be the case at Kauna’oa, where the highest priced of the six paired homes for sale (1A, offered for $3,300,000) went into escrow today.

The Hali’a Hale town homes perch well above lots where single family estate homes are taking shape

In fact, the clients I took to see developer inventory last week did not even go to the “best buy” Kauna’oa 10A (MLS# 221622). After viewing the sales office model in Building 8, we went straight to Buildings 1 and 2, which have a bit bigger views. I stand by my best buy pick, however, the advantage of the two homes in Building 10 would be their proximity to the “Country Club” amenity area.

The extensive amenities at Kauna’oa encourage gathering, so that owners feel a sense of community. Although each residence has its own dipping pool, there is a gorgeous community pool overlooking a private par 3 golf course. The workout room in the Clubhouse is beautifully equipped as are the men’s and women’s dressing rooms. There are even massage treatment rooms and wine lockers, so owners don’t have to drag bottles back and forth from their homes if they want to relax with friends at the Country Club.

All this luxury comes with a price tag. There are two Kauna’oa homeowners associations dues for the one to which lot/single family homeowners, as well as condo owners belong, are currently $2,250/month. The Halia Hale owners pay an additional fee for maintaining their landscaping, common areas, and exteriors which is in the range of $3,000/mo. (the two floor plans having slightly different square footage pay slightly different dues).

Speaking of building lots, I was thrilled to see the progress on a Kauna’oa home under construction that was designed by my friend and client, Eric Henderson, whose design business is based in San Francisco, but sought after by clients at Hualalai and Kukio as well as Mauna Kea. Expect more owners to be in residence soon…and with two lot sales already closed this year, and two more in escrow, the four ocean view building lots on the market (all of which are near or over an acre in size) could easily disappear in the course of 2011.

Kauna’oa is not the choice for bottom-fishers even if there are “best buy” properties for sale. It is a super choice for a buyer who is in the $2-$3 million price point for a built home—or who desires a vacant lot to build a distinctive resort estate—close to the beach, tennis courts, and golf course of the Mauna Kea Beach Hotel, a short ride by golf cart or walk down the path from Kauna’oa.

Unlike the rest of the Mauna Kea Resort properties for sale makai of the highway, Kauna’oa is actually entered via the road to the Hapuna Prince…which means it occupies a sweet location between the two hotels.

Kauna’oa Halii Hale town homes and lots are ideally located between the Mauna Kea Beach Hotel and the Hapuna Prince Hotel

One final tip: Most of the Kauna’oa properties for sale are listed by the developer. If you are tempted to stop by the sales office, keep in mind their sales agents work for the seller, and you are entitled to outside buyer’s representation! We’ll work with you to make sure it is the right fit for your lifestyle, and to get the best price for your Kauna’oa property, if it is.