Villages at Mauna Kea near the beach for $2,500,000 after another price reduction
Listed for $3.5 million at the beginning of 2009 in the doldrums of the Hawaii real estate market, the latest price reduction of $300,000 brings this 2BR/2.5BA 2,684 sq ft villa to a competitive price of $2,500,000--although maybe not good enough for my "best buy" list. The Villas at Mauna Kea are vintage resort (20-year young) paired home condos located just behind the Mauna Kea Beach Hotel.
Competitive with what, you might ask? Competitive with the unit next door, for starters. Competitve with recent sales ($2.5 - 3.2 million) at the newer nearby Kauna'oa development, although those units, suiting today's buyer's tastes, offer 4 bedrooms and closer to 3500 sq ft. Competitive with 2BR units at Mauna Lani Point or Mauna Lani Terrace, where the most recent sale was $1,900,000 for only 1500 sq ft. Competitive with penthouse units at walk-to-the beach Kolea, where a front row sold earlier this year for $2,550,000 and rumor has it some owner will crack the under $2,000,000 mark.
The prestige of Mauna Kea comes with a price tag. Monthly dues are around $3,600. Owners would have their choice of several levels of participation in the amenity program as well.
A hui hou,
Beth
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