As we hit the halfway mark of 2025, the Big Island luxury resort market continues to show strength—but with clear signals of recalibration in certain sectors. For buyers and sellers alike, the year has revealed some shifting dynamics, especially in the condo market, while ultra-luxury homes remain in high demand at our most exclusive resorts. Here’s a breakdown of how each resort community is performing—and why lifestyle still plays a major role in value.
Kohala Coast Resort
With Hawaii’s ongoing condo insurance crisis, the resort condo market has been undergoing a noticeable shift, especially in the more affordable categories. Waikoloa Beach Resort saw one of the most significant corrections in the resorts, with closed sales down almost 50% year-over-year. Buyers here are coming in with sharper pencils—hard negotiation is not only expected, it’s necessary. The number of active listing is up.
(Earlier this year, our clients secured a Kolea residence at more than 25% below the original listing price—a clear example of the opportunities emerging for well-prepared buyers.)
Mauna Lani’s condo market, while more resilient, is also showing signs of adjustment. We’ve seen a pickup in activity compared to the early part of the year, but the average price per square foot is down around 9% compared to 2024. This kind of correction is part of the natural cycle—and one Waikoloa may need to experience to re-engage buyers.
Mauna Kea’s condo segment has been notably active, standing out amid the broader market. Sales volume has risen, though single-family homes are down compared to last year. That said, there’s palpable energy in this community, partially fueled by the buzz around Shohei Ohtani’s custom home construction within the resort. It’s become a point of conversation among clients and has brought a fresh wave of attention to this legacy resort.
Private Resorts
At Four Seasons Hualalai, most of the action is off-market. We represented clients this year in a quiet villa acquisition, and that’s been the story throughout the resort—properties changing hands quietly, without ever hitting the public MLS. Inventory is remarkably tight. As of this writing, there are no active listings for homes or villas in Hualalai. This is a relationship-driven community, and experience is everything when it comes to access.
Kukio continues to break ceilings. The price per square foot for single-family homes here is astonishing—over $4,500—and it speaks to the level of exclusivity Kukio has earned over the years. Since the equity memberships sold out, the resort has evolved into an ultra-private country club for a select few. Three homes are currently on the market in Kukio, and a few custom lots remain in KD, the third phase of development.
Then there’s Kohanaiki. The newest addition to Big Island’s ultra-luxury scene continues to perform. Since 2020, the community has benefited from newer inventory and thoughtful design. Kohanaiki’s amenities are dialed in for a younger, family-oriented buyer—surf, fitness, spa, golf, and seamless service. They’re also actively working on new projects, which makes now a smart time to engage if you’re looking for something brand new. While lot sizes here are more modest compared to Kukio or Hualalai, the lifestyle package is world-class.
