Villages at Mauna Lani Market update May 2017

The Villages continues to be an exceptional community comprised of 130 units on approximately 30 acres.  Four floor plans are available-2 duplex plans and 2 freestanding condominiums.  Currently there are 17 units for sale, slightly higher than the typical 10% of built inventory but late spring can be a slow season for sales. Availability includes, 3-freestanding Alii plans with pools, 2-freestanding Kahili plans with pools and one without a pool for sale.  Duplex units includes 8-Maile plans and 3-Lehua plans available .

The Villages at Mauna Lani were developed by Mark Richards via his Maryl Pacific construction company in 2003-2007.  The Shops at Mauna Lani were also a part of his development scheme but the land was purchased by Bill Borkin and subsequently developed in 2004-6.

Nearly 20 acres of the 30 total acres are planted in lush landscape including large, Monkey Pod and Royal Poinciana trees.  These canopy trees coupled with the Shower trees and other plants make the Villages a lush, low density community.  Density is one of the lowest in the Mauna Lani at 4.3 units per acre with only The Islands at a lower density due to their “ponds” being drained at some point in the past and replaced with landscaping.

The Villages units are filled with upgrades that no other condominium communities along the coast or in The Mauna Lani Resort include.  Here is a list of features, many exclusive to The Villages:

Solid Mahogany Doors Solid Mahogany Trim Outdoor BBQ w/ Cherry  Cabinets Cherry Interior Cabinets
Sub Zero/Wolf/Dacor Appliances Fleetwood pocketing doors w/screens Custom milled carpet Upgraded Lighting
Large, 2 car garages with ample storage Ample Storage in interior closets and garage 100 GL Hot water heaters w/re-circulation pump 2 AC units-some with split zones
Large Laundry Rooms w/ Laundry sink and cherry cabinets Trey ceilings with rope lighting Shade Pockets in the great room Built in cabinetry in closets
Upgraded Closet Hardware and shelving Upgraded Door and Cabinet Hardware Expanded Outdoor lanai space Quality exterior finishes including custom color concrete drive and walkways
Individual water meters to control community water costs Computerized irrigation system to control community water costs Generous Pet Policy Generous Solar Policy

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I’ve lived in The Villages since 2003 and remember comparing the Villages offering to other communities at the time. No other community compared then or now based on quality of construction, low density, lush landscaping or general layout of the community. Have you ever noticed that the Villages buildings all sit back from the street quite a distance? Drive into Kamilo for instance and you will notice the units sit closer to the street and do not allow 2 cars to be parked easily in the driveway for guests in some units. Compare The Villages landscape design and variety of trees and shrubs-none other compare. Did you know The Villages has a state of the art, computerized irrigation control system featuring a weather station to control common area water costs?

Did you know that Golf Villas units sell for as much per square foot as a Lehua plan with only a 1-car garage and much less quality of construction? Better golf course views from most units and smaller average size account for the greater per square foot selling price vs. The Villages. The Golf Villas have great views from most of their units to the golf course but the units are in a 6 or 4-plex, high density community with lower quality of construction. That being said, there are more buyers in the lower price range of $500k-$750k.

New Kamilo units also sell for more per square foot on average than Villages units but this is due in part because most units are sold new. New always outsells resale homes when they are comparatively similar floor plans. Some have noted that Kamilo’s pool and recreation center is also large and features 2 pools. I believe that this does make a difference in a buyers decision making process at times for those that frequent the pool facility. This may not be as important if it’s pointed out that one day 260-70 units will share the pool facility at Kamilo/Kulalani. It’s also important to note that Kamilo and Kulalani have developer controlled Associations and like the Villages in 2005 and possibly face increasing fees after the developer departs. Lastly, Kamilo resale units are selling for as much as 20-30% less than the new sales in their community to illustrate the resale vs. new economics.

My understanding of recent meetings regarding The Villages pool and recreation center upgrades at The Villages is that there will be a special assessment in the near future for $3500-$5k to enlarge and upgrade the pool as well as for new pool furniture. Construction to start July 2017 and finish by December 2017. This may assuage some buyers objections to The Villages recreation center compared to other communities but in all cases it’s a inexpensive value add for the Villages owners.

We have many clients and friends that own property in various resorts and communities along the coast-many in The Villages. They purchase their properties for various good reasons including views and resort or community amenities. If you know someone where The Villages amenities and floor plans may fit their needs please call me to discuss. I am a Villages expert!

Click the following for Villages homes I have for sale:

Click Here for a list of active listings and sold listing information.

Click here to sign up for my Blog including important information like this concerning solar!

Click here for Property Alerts according to your needs and specifications!

Click here to search Hawaii Island Real Estate including resort properties!

Here are the one year average current list prices and 2016/2017 sale prices for the different unit types and other information.

Click here for the current list of for sale units and 2016/2017 sales.

Plan Type Maile Lehua Kahili w/pool & golf course front Alii w/pool & golf course front Kahili-no pool Alii-no pool Lehua-W/pool & golf course front
Size-Square feet/Interior 2752 SF 2174 SF 2643 SF 2558 SF 2643 SF 2558 SF 2174 SF
# of Sales per unit type 2 7 1 0 0 0 0
Average Sale Price 2016/17 $1.2m $887,000 $1.7m no sales No sale No sale No Sale
Average sold price per square foot $436.00 $408.00 643.00 0 0 0 0
# of Current listings per unit type 8 3 2 3 1 0 0
Average List Price Current Inventory $1.273m $951,600 $1.950m $1,814,700 $1.275m No Listings No Listings