August 2013

Found 9 blog entries for August 2013.

With arguably THE best location within Ke Alii Ocean Villas, unit A-105 is sure to garner the interest of many, with its absolute prime, unobstructed view corridor and immaculate condition.

This Aqua floorplan villa features 3 bedrooms / 3 bathrooms on 2 stories of Kihei luxury living. What is also noteworthy is its listing price: $1,060,000. This is the first KAOV to be listed over $1M and based on the sustainable growth in values, it is within reason that it may become the highest-priced KAOV to sell.

Views from Ke Alii Ocean Villas A-105

In addition to boasting 1,717 square feet of interior living space and 377 square feet of lanai outdoor living, this villa includes one assigned parking stall and a one car detached garage.

Since

With an increasing interest by potential buyers in what has become one of the hottest micro-markets in Hawaii, Honua Kai condos for sale are being absorbed at a rapid pace. And the Honua Kai developer inventory still presenting attractive incentives, understanding the purchase process of developer units will benefit any interested parties. As such, let us explain in further detail:

Offer

The first step in presenting an offer is to submit a Letter of Intent (LOI), which details sales price, breakdown of funds, closing timeline, contact information, and any other relevant special terms. If the seller accepts the terms/conditions on the LOI, the buyer is then afforded the opportunity to review the public reports and the sales contract.

In keeping up with the Honua Kai micro-market, our clients expect (and deserve) to receive real-time data. In an effort to be transparent and provide as much timely information as feasible, we will be implementing weekly updates until all developer inventory has been absorbed. First, let's keep in mind that the developer inventory is NOT listed on the MLS, so let us take a look at the most recent, updated list of developer units for sale at Honua Kai:

Hokulani Developer Condos For Sale

UNIT LIVING SQUARE FOOTAGE TYPE VIEWS PRICE
150 2,225 square feet 3 bedroom Ocean View $3.265M
203 1,940 square feet 3 bedroom Ocean View $2.155M
345 1,100 square feet 2 bedroom Partial

*Note: The Honua Kai micro-market continues to evolve. This article was originally written in 08/2013 based on then-current conditions. To better reflect the market, this post has been updated/edited in 02/2017. Periodically, we will update this post but contact us for specific information*

With more and more attention by potential investors in purchasing condos for sale at Honua Kai, one of the main questions (if not THE most critical) boils down to profitability. First, let us state the obvious: Maui is a strong long-term equity market, not a short-term cash flow market. Thinking of putting 20% down for a 12 cap rate? Then Maui is not a viable option. But if one is considering investing long-term and seeing appreciation that oftentimes far outpaces

Overview   |   Sales History   |   Analysis   |   Current Trends   |    Conclusion

Since its introduction as the first Fee Simple beachfront property in Ka'anapali in over 25 years, Honua Kai has been the subject of significant coverage. And with its unique value proposition as a worldclass luxury resort with one of the best beaches in the world at its backyard, Honua Kai has been a prime target for savvy buyers looking for the perfect mix of business and pleasure: investing in a vacation property capable of generating substantial rental income.

Honua Kai Overview

honua kai overviewWith high-end finishes, a seamless integration of outdoor/indoor living, impeccably kept grounds, and amenities worthy of a 5 star hotel, Honua Kai offers real estate ownership

This week, I was fortunate enough to receive an invitation to dine at the new restaurant in the Andaz Maui at Wailea luxury resort. It was a generous offer - and one that I could not refuse. Overseen by Executive Chef Brent Martin, who brings years of experience in high-profile restaurant management at Hyatt, the new Andaz will be a culinary experience rivalled by few others on Maui.

Upon walking down to the 3rd Floor, the first thing that embraces one upon entrance is the open kitchen concept. The bar and kitchen are completely open/exposed so diners can marvel in the process of how such masterpieces are created. First, drinks: Cocktails are strong yet subtle in a perfect mariage of flavors. Now on to the food: Perhaps the menu is still being

The high-end sector of the Maui condo market has seen a significant increase in activity on the first half of 2013, when compared to the same time period in 2012.  The first half of 2012 saw 43 sales of $1M+ condos, increasing by 74% in 2013 to an impressive total of 75 sales - sales volume rose accordingly, from $86.94M to $129.74M!

A question often brought up by potential buyers of luxury Maui condos is in regards to financing - or the lack thereof.  Of the applicable 43 sales in the first half of 2012, only 21% were financed, whereas for the 2013 sales, 43% were financed - which is reflective of lenders loosening their lending criteria to be less restrictive than it has been in the past few years.  It is worth noting that only a handful of

As one of the hottest micro-market in Maui real estate, Honua Kai has garnered the attention (rightfully so) of potential buyers looking for strong investment properties with a reputation as a comparatively high-producing short term rental in Kaanapali. Where many buyers see difficulty is in financing, due in large part to the lack of available information. 

As per one of the leading loan officers at one of the prefered lenders, the following are relevant criteria buyers need to keep in mind:

Loan Amount                 Loan-to-Value               Min. FICO Score               Min. Reserves                       Max Debt-to-Income
Up to $625K 75% DU* 6 Months PITIA 40
$625K-$1M 70% 740 9 Months

Below is a site map of the Andaz Maui at Wailea. It is for informational purposes only, it is not done to scale nor does it represent any affiliation with Rockwell Group, Andaz, Hyatt, The Wailea Group, or any other entity associated with the development.