Quick Answer: May 2024 saw a notable uptick in luxury condominium sales within Mauna Lani and Waikoloa Beach Resorts on the Kona-Kohala Coast, with Mauna Lani leading with six condo transactions. Conversely, single-family home sales remained subdued across all resort areas, though Mauna Kea Resort recorded the highest luxury sale at $10.5 million.
Key Takeaways: May 2024 Kona-Kohala Coast Luxury Real Estate Performance
- Condo Market Strength: Mauna Lani Resort and Waikoloa Beach Resort led the market in May 2024 for luxury condominium sales, indicating sustained buyer interest in this segment.
- Single-Family Home Sluggishness: The single-family home market experienced minimal activity, suggesting a more cautious approach from buyers and sellers in this higher-value category.
- Mauna Kea’s High-End Transaction: Despite overall low volume, Mauna Kea Resort secured the month’s top sale with a $10.5 million single-family home, showcasing the enduring appeal of ultra-luxury properties.
- Quick Sales for Well-Priced Units: Many of the condominiums that sold did so quickly (under 20 days on market) and at or near their original list price, especially in Mauna Lani, highlighting demand for appropriately valued units.
- Market Nuance is Key: General market trends do not tell the whole story; specific resort areas and property types show distinct performance, underscoring the need for granular analysis.
What do May 2024 Big Island sales mean for my investment in a Mauna Lani condo?
Over nearly two decades selling luxury homes on the Kona-Kohala Coast, I have worked with hundreds of affluent individuals considering Hawaii as a second home or vacation rental investment. One of the most common questions I hear is: “What do these recent sales mean for my investment?”
The answer is not magic—it is a system. The Polimino Market Insight System is the result of years of testing, refinement, and proven results. Rather than simply describing the system, here are clear answers to the most common questions buyers and sellers ask about the May 2024 market data.
Are Mauna Lani luxury condos a good investment based on May 2024 sales data?
Quick Answer: Yes. May 2024 sales data suggests strong demand and stable pricing for luxury condominiums in Mauna Lani Resort, particularly for well-positioned units.
Multiple units sold quickly and at their asking price, indicating a healthy and active market segment. Mauna Lani Resort led the Kona-Kohala Coast in May with six condominium sales, many of which were on the market for less than 20 days and closed at their original list price. When demand outpaces supply for quality units, prices hold firm and sales happen quickly.
Real example: The Villages at Mauna Lani saw three 3-bedroom, 3.5-bathroom units (632, 633, 634) sell for $1,750,000 each on May 15, 2024, after just 19 days on market and at their original list price.
What do the minimal single-family home sales in May 2024 mean for my plans to sell a luxury home on the Kona-Kohala Coast?
Quick Answer: Subdued single-family home sales suggest a more discerning buyer pool and emphasize the importance of strategic pricing and targeted marketing.
Low transaction volume does not necessarily signal a declining market. It often reflects cautious buyers and firm seller pricing. In such conditions, positioning, presentation, and precise pricing become critical.
Real example: Mauna Kea Resort – Bluffs 2 sold for $10,500,000 on May 20, 2024, after 14 days on market, demonstrating that ultra-luxury properties with strong value propositions continue to attract serious buyers.
Is now a good time to buy a second home in Waikoloa Beach Resort based on May 2024 condo sales?
Quick Answer: May 2024 condo sales in Waikoloa Beach Resort indicate healthy demand for well-priced units, creating opportunities for prepared buyers.
Waikoloa Beach Resort recorded three condominium sales in May, with some units selling quickly. This suggests motivated buyers are active for the right property.
Real example: Waikoloa Colony Villas 1002, a 2-bedroom, 2-bathroom unit, sold for $710,000 on May 14, 2024, after only 5 days on market.
How did Mauna Kea luxury real estate perform in May 2024?
Quick Answer: Mauna Kea Resort demonstrated strong ultra-luxury demand with a $10.5 million home sale and a $3.6 million condominium sale, despite low overall volume.
Although transaction numbers were limited, value per transaction remained high. This reinforces the long-term strength of premier properties within Mauna Kea Resort.
Real examples: Mauna Kea Fairways North 16 sold for $3,600,000, and Mauna Kea Resort – Bluffs 2 sold for $10,500,000, both after 14 days on market.
Mauna Lani Resort May 2024 Sales Data
| Unit Name | Sale Price | Sale Date | Bedrooms | Bathrooms | Sq Ft | Days on Market | Original List Price | Property Type |
|---|---|---|---|---|---|---|---|---|
| Ka Milo 120 | $1,600,000 | May 17, 2024 | 3 | 3 | 2,175 | 10 | $1,600,000 | Condominium |
| Ka Milo 215 | $1,600,000 | May 14, 2024 | 3 | 3 | 2,175 | 10 | $1,600,000 | Condominium |
| The Villages at Mauna Lani 632 | $1,750,000 | May 15, 2024 | 3 | 3.5 | 2,175 | 19 | $1,750,000 | Condominium |
| The Villages at Mauna Lani 633 | $1,750,000 | May 15, 2024 | 3 | 3.5 | 2,175 | 19 | $1,750,000 | Condominium |
| The Villages at Mauna Lani 634 | $1,750,000 | May 15, 2024 | 3 | 3.5 | 2,175 | 19 | $1,750,000 | Condominium |
| The Fairways at Mauna Lani 403 | $1,250,000 | May 24, 2024 | 3 | 3 | 2,148 | 22 | $1,250,000 | Condominium |
Waikoloa Beach Resort May 2024 Sales Data
| Unit Name | Sale Price | Sale Date | Bedrooms | Bathrooms | Sq Ft | Days on Market | Original List Price | Property Type |
|---|---|---|---|---|---|---|---|---|
| Waikoloa Colony Villas 1002 | $710,000 | May 14, 2024 | 2 | 2 | 1,236 | 5 | $710,000 | Condominium |
| Waikoloa Beach Villas H22 | $1,050,000 | May 15, 2024 | 2 | 2.5 | 1,204 | 22 | $1,050,000 | Condominium |
| Waikoloa Beach Villas F21 | $1,200,000 | May 23, 2024 | 3 | 3 | 1,697 | 10 | $1,200,000 | Condominium |
| Waikoloa Fairways 68-175 Kuualii Pl | $1,195,000 | May 10, 2024 | 3 | 2 | 1,514 | 15 | $1,195,000 | Single-Family Home |
Mauna Kea Resort May 2024 Sales Data
| Unit Name | Sale Price | Sale Date | Bedrooms | Bathrooms | Sq Ft | Days on Market | Original List Price | Property Type |
|---|---|---|---|---|---|---|---|---|
| Mauna Kea Fairways North 16 | $3,600,000 | May 20, 2024 | 3 | 3.5 | 2,544 | 14 | $3,600,000 | Condominium |
| Mauna Kea Resort – Bluffs 2 | $10,500,000 | May 20, 2024 | 5 | 5.5 | 4,374 | 14 | $10,500,000 | Single-Family Home |
The Bottom Line: Navigating the Kona-Kohala Coast Market
May’s sales data reinforces that the luxury market is not monolithic. Some segments, such as Mauna Lani condominiums, showed robust activity, while single-family homes required a more strategic approach. Buyers should be prepared and decisive. Sellers should focus on accurate pricing and comprehensive marketing to achieve optimal results.
I would not be surprised to see continued strength in the luxury condominium market, while single-family homes may experience a gradual increase in activity as the summer progresses.
Frequently Asked Questions
Q: What do these May 2024 sales mean for my investment in a Mauna Lani condo?
A: The strong performance of Mauna Lani condos suggests stable value and healthy demand. Sellers may expect favorable outcomes if priced correctly, and buyers should be prepared to act competitively.
Q: Are single-family home prices stabilizing in Waikoloa Beach Resort?
A: With limited single-family sales data, broader conclusions are difficult. However, the quick sale of a well-priced property indicates that desirable homes can still command value.
Q: Should I expect market momentum for luxury homes this summer?
A: The luxury market often sees increased seasonal activity. The $10.5 million Mauna Kea sale confirms continued demand at the high end of the market.
Q: How quickly are luxury condos selling?
A: Based on May 2024 data, luxury condos in Mauna Lani and Waikoloa Beach Resort sold within 5 to 22 days, indicating strong buyer demand.
Q: What questions should I ask a realtor about market trends?
A: Ask for recent comparable sales data, insights into micro-trends within specific resorts, and a clear strategy for pricing and marketing tailored to your property or investment goals.