It's that time again - let us revisit sales activity at Honua Kai condo market for the month of May to gain a better perspective of the direction the market is heading in. With such a fluid market, it is pertinent to maintain a firm understanding of real-time market conditions. 

New Listings

The month of May saw 5 new listings come up on the market - and they all happen to be high-end 3 bedroom residence listings by the developer. Listed below are Konea 449, Hokulani 250, Konea 202, Konea 102, and Hokulani 501. At a hefty average of $3.7M, these units are prime examples of the best that the Maui luxury market has to offer. For those interested in selling, now may be a prime time to list as inventory in many key micro-markets (premium 2 bedroom

** Note: This post is not as statistics-based as our usual market reports, but rather relies on anecdotal experience. **

The most frequently heard question by our team is "So how is the market at Honua Kai doing right now?" We post our monthly updates in order to provide real-time narration of micro-market conditions and provide insight of ascertainable trends as they develop. However, such short-term analysis does not provide a bird's eye perspective of sustainable trends - and with a minute micro-market, it is easy for one sale to sway statistics one way or the other.

For several months now we have expecing that prices will increase as the developer inventory dwindles to mostly premium units in the Konea tower. Our reasoning being that

As high season winds down and in its aftermath, the remainder of sales are closing (and may slip into May as well) so more clear micro-market trends can be ascertained. And in our continuing analysis of the Honua Kai condo micro-market, we post monthly updates to better alert potential buyers and sellers of perceivable trends. As such, let us look below at activity in the month of April.

New Listings

The month of April saw only one new listing in Honua Kai. Konea 205 is premium, inner-courtyard 2 bedroom unit in the Konea tower. Priced at $1.599M, it is priced in the range at which similar units have been selling (in the $1.5M's).

Pending

Four units went under contract in April:

Hokulani 142 - spacious 1 bed + den, with a sales price of