Quick Answer: In March 2024, Mauna Lani Resort saw six condominium sales ranging from $900,000 to $1,975,000. Waikoloa Beach Resort recorded five condo sales from $750,000 to $2,700,000. The luxury market on the Kona-Kohala Coast continues to demonstrate strong demand despite limited inventory.
Key Takeaways: March 2024 Kona-Kohala Coast Luxury Condo Market
- Mauna Lani Activity: Six condo sales, with the highest at Ka Milo for $1,975,000.
- Waikoloa Beach Performance: Five condo sales, with the highest at Kolea for $2,700,000.
- Exclusive Pockets: Single high-value condo sales at Mauna Kea Resort ($1,600,000) and Kohanaiki ($5,500,000).
- High-End Home Sale: An oceanfront single-family home in Mauna Lani’s Pauoa Beach sold for $20,000,000.
- Inventory Remains Low: Continued strong demand keeps prices firm across the Big Island’s resort areas.
Over nearly two decades selling luxury homes on the Kona-Kohala Coast, I have worked with hundreds of affluent individuals seeking a second home or investment property. One of the most common questions I hear is: “What’s really happening in the market right now, beyond the headlines?”
The answer is grounded in careful analysis and experience. My Polimino Market Insight System is the result of years of refinement and proven results analyzing the nuances of this unique market. Rather than simply describing the system, here are answers to the most common questions buyers and sellers ask about these recent sales and what they mean in practical terms.
What Were the March 2024 Condo Sales Like in Mauna Lani Resort?
Quick Answer: Mauna Lani Resort recorded six condominium sales in March, ranging from $900,000 to nearly $2 million, reflecting steady demand for luxury resort living.
Mauna Lani Resort remained active with six closed condo sales. Beyond transaction count, price range and price per square foot provide deeper insight into market strength. Sales ranged from a two-bedroom unit at Fairways at Mauna Lani for $900,000 to a three-bedroom unit at Ka Milo for $1,975,000, illustrating the variety of offerings within the resort.
Example: A three-bedroom, three-bath unit at Ka Milo spanning 1,500 square feet closed for $1,975,000, or $1,317 per square foot. This sale highlights the premium placed on larger, well-appointed residences within desirable communities.
How Did Waikoloa Beach Resort Condo Sales Compare in March 2024?
Quick Answer: Waikoloa Beach Resort recorded five condominium sales, with a high of $2,700,000 for a unit at Kolea.
Waikoloa Beach Resort also demonstrated solid activity. The highest sale was a three-bedroom unit at Kolea for $2,700,000, while a two-bedroom unit at Waikoloa Colony Villas sold for $750,000. This price spread reflects the range of product types and locations within the resort environment.
Example: The Kolea sale involved a three-bedroom, three-bath unit measuring 2,100 square feet that closed for $2,700,000, or $1,286 per square foot.
Is Now a Good Time to Buy in Mauna Kea or Kohanaiki?
Quick Answer: March sales in these ultra-luxury communities indicate continued strong pricing and buyer interest.
In March, a two-bedroom unit at Mauna Kea Fairways North sold for $1,600,000, and a three-bedroom unit at Kohanaiki sold for $5,500,000. These single transactions reflect the scarcity and exclusivity of properties in these communities.
Example: The Kohanaiki residence, a three-bedroom, three-bath unit of 2,500 square feet, sold for $5,500,000, or $2,200 per square foot.
How Did the $20,000,000 Mauna Lani Oceanfront Sale Impact the Market?
Quick Answer: The $20,000,000 oceanfront sale in Pauoa Beach reinforced the strength of the ultra-luxury segment.
The sale of a five-bedroom, five-bath oceanfront home spanning 5,500 square feet for $20,000,000—approximately $3,636 per square foot—demonstrates continued demand for premier oceanfront properties on the Kona-Kohala Coast. High-end single-family sales often set benchmarks for overall market confidence.
Is Low Inventory Affecting Prices?
Quick Answer: Yes. Limited inventory combined with steady demand continues to support firm pricing.
Across Big Island resort areas, inventory remains constrained. When supply is limited and buyer demand persists, prices tend to remain stable. March price-per-square-foot figures in Mauna Lani, ranging from $818 to $1,317, reflect this dynamic.
What Do These Sales Mean for a Hawaii Second Home Investment?
Quick Answer: The data suggests a stable and resilient luxury market with continued buyer interest.
For second-home buyers and investors, March sales indicate that well-located luxury properties maintain strong value. Demand remains consistent across price tiers.
Example: A two-bedroom unit at Waikoloa Colony Villas sold for $750,000, or $625 per square foot, representing an entry point into the resort market with potential for both personal use and rental income.
The Bottom Line
March 2024 sales across the Kona-Kohala Coast confirm a market characterized by limited inventory, steady demand, and firm pricing—particularly in luxury and ultra-luxury segments. Buyers should be prepared to act decisively, while sellers benefit from continued market strength.
Frequently Asked Questions
What is the current inventory situation for luxury condos on the Big Island?
Inventory remains low across major resort areas, contributing to stable pricing.
How quickly are luxury condos selling in Mauna Lani and Waikoloa Beach Resorts?
Desirable properties are moving steadily when priced appropriately for current market conditions.
Are prices expected to increase further?
With ongoing demand and limited supply, prices are expected to remain firm. Significant increases would depend on further tightening of inventory or rising demand.
What should I consider when buying in Mauna Kea Resort?
Evaluate the specific community, amenities, rental potential, and price per square foot, which reflects the resort’s premium positioning.
How does Kohanaiki differ from other resorts?
Kohanaiki is a private club community with limited inventory and higher price points. Its value proposition includes both the property and exclusive membership lifestyle.