Resort Market Update – Wai’ula’ula at Mauna Kea Selling Fast

Wai’ula’ula at Mauna Kea Resort is showing strong signs of sales and price recovery over the past few months! The lack of inventory and higher prices indicate this will prove to be the turning point of buyer’s to seller’s market.

Recent Sales Stats for the Ridge

In 2012 there were 6 sales in the Ridge (four plex building) ranging from an all time low of $674,000 on a short sale in “F” building to $930,000 for a golf course north facing condo in “M” building with views of Maui, the Kohala Mountains and the Kawaihae Harbor.

View from recently listed Ridge unit in “N” building

My partner, Beth Robinson, and I recently listed a Ridge unit in “N” building (view shot above) for $999,900 and received an acceptable offer within 18 days! (Good thing I am not superstitious…talking about a pending sale.)

Recent Sales Stats for the Villas

The Villas (duplex style with private pool in yard and 2 car garages) had two sales in 2012:

• #342 with a reported sales price of $1.3M in November of 2012 after 306 days on market
• #302 (my listing) which closed December of 2012 for $1.7M after only 29 days on market

That, of course, is a huge leap in price, but please know the difference in location was a large contributing factor here as well as a strong rental business history.

What’s For Sale at Wai’ula’ula at Mauna Kea?

There are currently two Villas available for sale:

• (MLS# 258537) priced at $1.499M (close to road with limited views…but nicely appointed)
• (MLS# 260511) at a higher elevation with nice views along coastline and well appointed priced at $1.695M

Neither will likely have a problem appraising at the higher prices due to the most recent sale of #302, but there is a big difference in value between the two due to views and location!

There are currently no Ridge listings available. There have been no sales in the Estates (single family homes) since 2009 and no listings are available at this time.

If you are interested in being on our preferred list of buyers for the Mauna Kea Resort, please contact us directly…not all listings are listed and we would be honored to be your on the ground ears and eyes.