Mauna Kea Resort June Market Update

Hawaii Governor David Ige recently announced that the state would be extending the 14-day mandatory quarantine for all trans-Pacific travelers through the end of August. The state continues to hammer out the details of how the testing program would work and how to ensure that visitors don’t slip through the cracks. This declaration comes approximately one week after Governor Ige informally announced that starting on August 1st, trans-Pacific travelers to Hawaiʻi would be able to bypass the 14-day quarantine if they first showed proof that they were tested for COVID-19 with negative results.

The plan stated that upon arrival to Hawai’i, passengers must provide evidence of a negative COVID-19 test that was taken within 72 hours of their trip to Hawaii. The protocol would have been similar to one currently being used in Alaska. Governor Ige is now delaying the launch of the traveler testing program until September 1st to give state safety officials more time to develop a better plan for safely reopening the tourism industry.

Pristine views over Kauna‘oa Bay, at the Mauna Kea Beach Hotel on Hawaii Island. Photo Credit: Hawaii Life’s Winston Welborn.

We anticipate Mauna Kea Beach Hotel will follow suit of Governor Ige’s plans, and keep their doors closed until at least September 1st when the testing program for bypassing the 14-day mandatory quarantine is set into place. However, no formal announcement has been made by the hotel management as of yet. The situation continues to be fluid. There will likely be an official announcement within the next couple of weeks.

Although the mandatory quarantine extension is disappointing to many, it appears the government is getting closer to working out the kinks of the testing program, which will slowly and carefully help return our lives to a more normal state. Once the proper testing programs are in place and the 14-day mandatory quarantine is lifted, the gradual return of tourism should give a much-needed boost to the local economy, and will most likely create more demand for the already flourishing Kohala-Coast real estate market. Over $118 million of real estate has sold within Mauna Kea Resort through the first half of the year, which is the highest volume of sales recorded within the resorts in the first half of any year since 2007.

Find below the Mauna Kea Resort’s June Real Estate Market Update highlighting June sales, resort offerings, and market trends. I hope you find this information interesting and helpful.

Mauna Kea Resort golf course, Kohala Coast of the Big Island of Hawai‘i. Photo credit: Hawaii Life’s Winston Welborn.

June Sales:

There were six sales within Mauna Kea Resort in the month of June.

Mauna Kea Realty successfully represented the Seller in a unique transaction where the Buyer purchased a house currently under construction located within the private gated community of Kauna’oa. Kauna’oa Lot #9 is within a 3-minute walk to Mauna Kea Beach and Hotel. The single level home just sold for $7.385 Million and provides over 4,000 square feet of living area with five bedrooms, five and a half bathrooms and just under 900 square feet of covered lanai. The builder, Brown Development, specializes in the custom design, construction, and sale of exquisitely crafted luxury homes on the islands of Maui and Big Island Hawaii. For similar opportunities for homes under construction that are for sale please feel free to call or email me. (Click Here) to view the property details and architectural renderings of the home.

Wai’ula’ula Duplex Villa #322 sold last month for $2.115 Million. This 3-bedroom 3.5-bath duplex unit has an interior of over 2,500 square feet which creates the feel of a single-family residence with its own pool, spa, two-car garage, and fully fenced yard with close proximity to two of the world’s best white sand beaches at Kauna’oa Bay and Hapuna Beach. (Click Here) to view the property details.

Mauna Kea Resort and surroundings, Kohala Coast of the Big Island of Hawai‘i. Photo credit: Hawaii Life’s Winston Welborn.

Mauna Kea Realty represented the Seller and Buyer of a vacant lot in the High Bluffs, a private 9-lot gated community located between the Mauna Kea Beach and Westin Hapuna Beach. High Bluffs Lot #2 sold in early June for $750K. This custom home development site sits below the highway within Mauna Kea Resort. High Bluffs Lot #2 boasts over 320 linear feet of unobstructed ocean views and golf course frontage overlooking the 17th hole of the Mauna Kea Golf Course and the 18th hole of the Hapuna Golf Course. Feel free to contact me for other development opportunities within Mauna Kea Resort and/or along the Kohala Coast. (Click Here) to view the property details.

Three condominium units recently sold at the Hapuna Beach Residences. The former oceanfront north tower of the Westin Hapuna Beach Hotel is nearing completion of the conversion to 68 luxurious beachfront condominiums. The Hapuna Beach Residences at Mauna Kea Resort are whole-ownership condominiums ranging from one to four bedrooms in a variety of floor plans — some with pools, all with incredible ocean and coastline views located within a stone’s throw to one of the most beautiful crescent white sand beaches in Hawai’i. (Click Here) to view the property details of the three (3) two-bedroom condominiums that closed escrow in June. The project will be completed in 3 phases. Building A is now complete, Building B will be finished around September 7th, and Building C will be complete around the end of September.

Highlighted Property of the Month: Inspired by nature and elevated by artistry, this luxury Mauna Kea Resort residence designed by award-winning architect Mark de Reus will take your breath away. Fairways North #12 is an immaculate 6-bedroom custom home with approx. 10,000 sq. ft. of air-conditioned space, exceptional finishes, and elegant craftsmanship. A must-see for the Buyer looking for a move-in ready home within the gated area of the Mauna Kea Resort with quick access to the Mauna Kea Beach Hotel and beach amenities which have made this the world-class resort it is today. (Click Here) to view the property details of this spectacular listing.

For a Complete List of Condominiums and Residential Properties Currently Available at the Mauna Kea Resort (Click Here).

For a Complete List of Vacant Land Properties Currently Available at the Mauna Kea Resort (Click Here).

Mauna Kea Resort and surroundings, Kohala Coast of the Big Island of Hawai‘i. Photo credit: Hawaii Life’s Winston Welborn.

Market Trends: 

HOMEBUYER MORTGAGE DEMAND SPIKES 33% AS RATES SET ANOTHER RECORD LOW:  Mortgage applications to purchase a home rose 5% for the week and were a remarkable 33% higher than a year ago, according to the Mortgage Bankers Association’s index, which was seasonally adjusted, including for the Fourth of July holiday. Buyer demand has been incredibly strong since mid-May after the coronavirus shut down most housing activity in April. The only thing standing in the way of more sales is the record-low supply of homes for sale.  (https://www.cnbc.com)