Mauna Kea Resort November Market Update: Sales and Trends in Hawai‘i’s Upscale Real Estate Market

Mauna Kea Resort November Market Update

Mauna Kea Realty’s parent company Hawai’i Life just released their 2021 (Q1-Q3) Hawai’i Luxury Market Report. The report states Hawai‘i Life and Mauna Kea Realty was the statewide market leader in high-end listings and sales over $3M, representing 186 of the 1,268 sides of business to date this year, making up 14.7% of the market share of all sales above $3M. The total sales volume in this segment of the market in 2020 totaled $1.94 billion and in the first three quarters of 2021 alone, statewide volume has eclipsed that number by $1.758 billion dollars for a total of $3.698 billion.

Furthermore, statewide our team represented 31 of the 128 sides of business that closed above $10M this year, capturing a 24.2% market share in the very highest end of the luxury market. In terms of total trades in units at or above $10M, Hawai‘i Island saw the highest growth, with 24 transactions versus just 2 in the first three quarters of 2020.

As we approach the end of year, we expect the over-arching theme of 2021 to be one of rapid and resounding growth. There will be an ongoing trend of fully and partially-remote companies, higher asset prices, and motivation for enjoyable living spaces outside of the city. As a result, “secondary markets” (a term which, by virtue of this trend, may become obsolete) have seen a continued increase in demand as people leave major metropolitan areas in favor of less crowded and more spacious, private, and health-conscious surroundings. The market may slow slightly because of an inventory shortage, but we expect to be surprised by even higher trades, high-profile buyers, and overall volume.

The Hawai’I Island market overview can be found on page 24 of the report. You can access the full 2021 (Q1-Q3) Hawai’i Luxury Market Report by clicking here. 

Find below the Mauna Kea Resort’s November Real Estate Market Update highlighting last month’s (October) sales, resort offerings, and upcoming local events. I hope you find this information interesting and helpful.

October Sales

There were 11 sales within Mauna Kea Resort in the month of October.

There were 4 condominiums in the Uplands that sold last month. Most notably, a Wai’ula’ula ridge four-plex unit in the J Building sold for $1.875M and a Wai’ula’ula Duplex unit sold for $2.8M.

Four vacant lots within the Uplands community of Hapuna Estates sold at an average price of $1.06M. Each lot is approximately 1 acre.

Three of the October recordings were sales contributed to the completion of the Hapuna Beach Residences. The Hapuna Beach Residences at Mauna Kea Resort are 68 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. At this time, more than half of the units have closed escrow. Please feel free to contact me for additional information regarding available units and/or to tour the Hapuna Beach Residences.

Click here to view the detailed list of October sales within Mauna Kea Resort.

New on the Market

Mauna Kea Realty is proud to announce the fourth offering by Greg Brown of Brown Development in the prestigious private gated community of Kauna’oa at Mauna Kea. “Makai Hale” is situated overlooking the private Weiskopf designed Par 3 Practice Course with sweeping golf course views out to the signature water feature. The property is located directly across the street from the path to the world-famous Mauna Kea beach. Within seconds walk, bike or drive your electric vehicle to the famous white sand beach of Kauna’oa Bay providing all the amenities the Mauna Kea Resort has to offer.

Under construction and scheduled for completion in January 2023, “Makai Hale” provides 4,288 square feet of single-level living with five bedrooms plus a media room and six bathrooms and 1,466 square feet of covered lanai situated on a site of close to 27,000 square feet. “Makai Hale” offers a unique layout with two separate outdoor entertaining areas. The primary outdoor space with its generous pool and spa, outdoor kitchen, and tiki torches overlooks the golf course while the secondary interior courtyard space provides additional outdoor space to read, relax and enjoy.

Owners within Kauna’oa enjoy the benefits of the Kauna’oa Homeowners Clubhouse facility including a fitness center, pool, spa, indoor and outdoor massage hales, meeting room, concierge services, and the private Weiskopf Par 3 practice course with no tee times required. In addition to the Kauna’oa amenities, owners will have the ability to join The Club at Mauna Kea with two levels of Club Membership to choose from. Click here to view the property details and architectural renderings of the home.

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.

Local Events

TRUFFLE CHAT & TASTING – Manta Private Dining Room – Saturday, November 20

Michelin Starred Chef Frank Brunacci, truffle purveyor to the country’s top chefs, will be on hand for an informal discussion and tasting of the highly prized “diamonds of the kitchen”. Mauna Kea Resort Executive Chef Peter Abarcar, Jr. and Executive Sous Chef John Kujundzich will collaborate with Chef Brunacci to highlight how various types of Truffle will elevate any dish!

We invite you to join us for this wonderful evening at the Manta Private Dining Room at Mauna Kea Beach Hotel on Saturday, November 20 from 5:30 pm.  to 7:30 pm. Details are attached and reservations can be made via this private link: Mauna Kea Truffle Chat and Tasting

FIRST ANNUAL Mauna Kea BeerFest – Mauna Kea Lu’au Grounds – Saturday, November 27

The Mauna Kea Beach Hotel Lu’au Grounds will be the site of the FIRST ANNUAL Mauna Kea BeerFest on Saturday, November 27 from 4:00 pm to 7:00 pm. Enjoy an evening that will feature 12 local and national microbreweries, a menu of traditional and non-traditional “beer-friendly” foods, and a keepsake Mauna Kea Beer Festival tasting glass ALL to the tunes of Honolulu Blues Legend and Na Hoku Hanohano Award Nominee Tavana.

Details are attached and reservations can be made via this private link: First Annual Mauna Kea BeerFest

Jake Chancer