April 2015

Found 6 blog entries for April 2015.

Today I had a question from a prospective purchaser at Honua Kai, which I thought would be worth posting as it may address the concern of other potential buyers.

Question:  It seems like values at Honua Kai are dropping off and now it may be the time to buy as sellers will have to come to grips with a softening market. What do you think?

Answer: To address your statement of 'now it may be the time to buy...' the answer would be yes, but for a different reason than in your comment. Now is a good time for potential purchasers as the market continues upward and standing on the sidelines may mean being priced out of the market. There is a lot of information out there regarding values and how to reach a 'fair market value', but ultimately, proper pricing

Today's question comes from our of clients looking interested in Honua Kai condos for sale.

Question:  I see on a lot of your charts you have sales broken down by number of bedrooms, but I was wondering how the 1+Den units do?

Answer: Thank you for your submission. Yes, our Honua Kai sales history (which needs to be updated to reflect 2014 numbers - sorry!) and our latest Honua Kai 2014 Sales Update are broken down by number of bedrooms, with no distinction given to the 1 bedroom + den units, which is one of the most sought-after niches within the Honua Kai market. Typically, these larger units sell for considerably less than the one bedroom units. In 2014, the overall 1 bedroom market saw sales average nearly $1,100 per square foot, whereas if we

Today's question comes from a client interested in Wailea real estate.

Question: On this last visit, we noticed a lot more construction in Wailea than in years past, can you give us a breakdown of what is going and where? Will there be new options for us?

Answer: You are absolutely correct. The past year has brought on a significant amount of new construction. As this is well within our sphere of expertise, we are well acquainted with the status of new projects and would be happy to answer any questions from interested parties. Below is a brief breakdown of the most significant projects that will redefine available inventory within their respective niches and a map is below with highlights.

wailea map new developments

Keala O Wailea - Interest in this property has been

wailea maui

According to Tripadvisors 2015 Traveler's Choice award, Maui is the best island in the United States and second best in the world. With average temperature of 75 degrees, an array of the best beaches in the world, luxury Maui real estate, and arguably the most beautiful tropical settings in the world, it is easy to why Maui is truly No Ka Oi!

Although many think of Maui as a beach paradise, it offers a plethora of micro-environments reflecting the rich diversity and cultural heritage inherent of Maui and its people. For example, Makawao boasts a rich paniolo (cowboy) tradition and the Maui Cattle Company has quietly grown into one of the best producers anywhere in North America. In addition, Haiku offers so many micro-climates within its boundaries

wailea beach villas

On April 14th, two significant sales recorded worthy of note for anyone following the Maui luxury real estate market. The first is a beachfront home on Maui's famed Keawakapu Beach. The 2 bedroom / 2 bathroom cottage at 3214 South Kihei Road is in fair condition, but the $7.7M sales price is reflective of the location on one of the most sought-after locations in Hawaii. The last sale in this neighborhood was a month ago for $14.5M at 3070 South Kihei Road and was based on the larger square footage.

The other sale that recorded today that raised some eyebrows is the sale of Wailea Beach Villas G-302. Sales at the Wailea Beach Villas have been stagnant, with only 3 sales recording in the past 15 months - and with 8 units currently on the market, one

honua kai duke's restaurant

It's that time again - with all sales of March having recorded and been reported, we can publish our March 2015 Honua Kai condo sales update.

New Listings

Although 6 new listings are reported, one of those was for statistical purposes as it was sold prior to being listed. Here are the 5 new listings:

Konea 614 - Located on the outside perimeter of the Konea tower, the views are restricted to ocean views due to the tower's orientation and the '12' stack protruding. Listed for $739K, it is a viable option for those seeking a 1 bedroom but for whom the ocean view premium is not feasible.

Konea 224  - Although the '24' on the Konea tower CAN have ocean views on the higher levels, on the 2nd floor this unit's view corridors are restricted to