Here is my understanding of the situation at odd primes, following Ben Wieland's comment. In all the following, fix an odd prime $p$.
First, note that as in Saal's answer, every closed manifold $M$ with vanishing rational homology is nonorientable, and thus admits a nonvanishing 2-torsion class in $\widetilde{KO}^0(M)$, and thus $\widetilde{KU^\wedge_2}^\ast(M) \neq 0$. Thus $M$ is not literally $p$-local. The remaining question is what the type of the $p$-localization $M_{(p)}$ can be. Ben's comment shows that the type of $M_{(p)}$ can be arbitrary. Let me attempt to expand out Ben's construction.
- Let $X$ be a finite complex such that $X_{(p)}$ is a type $n$ spectrum.
Embed $X$ in a big sphere $S^N$, and
- Let $M$ be the boundary of a regular neighborhood of $X$.
Then $M$ is a closed manifold of dimension $N-1$. Assume that $N = 2d+1$ is odd, and
- Let $M' = M \# \mathbb R\mathbb P^{N-1} = M \# \mathbb R\mathbb P^{2d}$ be the connected sum of $M$ with real projective space.
Claim: $M'_{(p)}$ is of type $n$.
Analysis of $\mathbb R\mathbb P^{2d}$:
Observe that $\widetilde{H}_\ast(\mathbb R \mathbb P^{2d};\mathbb Z_{(p)}) = 0$, so that $\mathbb R \mathbb P^{2d}_{(p)} = 0$. It follows that the attaching map for the top cell $S^{2d-1} \to \mathbb R\mathbb P^{2d} \setminus \ast$ induces an isomorphism in $K(m)_\ast$ for all $m$.
Analysis of $M$:
We have a homotopy pushout
$$(\ast) \quad S^N \simeq X \cup_M \Sigma^N (DX)$$
(Here $DX$ is the Spanier-Whitehead dual of $X$; $\Sigma^N DX$ is modeled by the complement of $X$ in $S^N$; note that $DX_{(p)}$, like $X$ has type $n$.)
The Mayer-Vietoris square for $(\ast)$ shows that for $m < n$, we have $K(m) \wedge M = \Sigma^{N-1} K(m)$ . For $m \geq n$, since $K(m)_\ast S^N$ is 2-dimensional over $K(m)_\ast$ and $K(m)_\ast (X \amalg DX)$ is at least 4-dimensional; it follows that $\widetilde{K(m)}_\ast M \neq 0$ for $m \geq n$. Thus for all $m$, we have $\widetilde{K(m)}_\ast M = \Sigma^{N-1} K(m)_\ast \oplus L(m)$, where $L(m) = 0$ iff $m < n$.
Into $(\ast)$, we may include a homotopy pushout diagram $(S^N\setminus \ast) \simeq (X \setminus \ast) \cup_{M \setminus \ast} ((\Sigma^N (DX)) \setminus \ast)$. The cofiber is a homotopy pushout diagram $S^N = \ast \cup_{S^{N-1}} \ast$. From this, we may conclude that the map $M \to S^{N-1}$ collapsing all but the top cell (which is the double cofiber of the attaching map $S^{N-2} \to M \setminus \ast$) kills exactly $L(m)$ in $\widetilde{K(m)_\ast}$, leaving $\widetilde{K(m)}_\ast (M \setminus \ast) = L(m)$.
Analysis of the connected sum:
Now from the homotopy pushout $M' \simeq (M \setminus \ast) \cup_{S^{N-2}} (\mathbb R \mathbb P^{N-1} \setminus \ast)$, we conclude that $\widetilde{K(m)}_\ast (M') = L(m)$, which vanishes exactly when $m < n$. Thus $M'_{(p)}$ has type $n$.