May 2015

Found 4 blog entries for May 2015.

honua kai resort grounds

This month's Honua Kai monthly update comes a bit early - unless new sales are recorded (or reported) over the weekend, then the below form the basis on which to report current micro-market conditions. Any necessary updates will be posted immediately below and check regularly for Honua Kai condos for sale.

New Listings

NO NEW LISTINGS IN THE MONTH OF MAY!!! Only one new listing was inputted in the month of May, but it was for statistical purposes only (the sale of an unlisted property, which will be detailed below). The lack of new listings can be VERY alarming for buyers as pent up demand is NOT being met with new inventory. For sellers, this can prove to be a prime opportunity to come on the market for a fast absorption. More on this at the

The new real property tax rates for Maui County have been released, which will be in effect from July 1st, 2015 to June 30th, 2016. As we had speculated for some time, the increasing assessed values would result in slight decreases in the tax rates. The chart below compares the current fiscal year's tax rate to the upcoming year's. Remember, the amount below is per $1K of assessed value.

maui real estate taxes 2015

Arguably the ones that will have the biggest impact are Hotel / Resort, Residential, and Apartment. And yes, for homeowner occupants who claim the homeowner exemption, Maui continues to be one of the lowest property tax rates in the United States (as a percentage of home value).

For those with any questions regarding property tax rates on Maui and/or how that

Now that we are in May, the last drove of sales from high season is trickling in as recorded sales. As such, it provides a better purview on which to measure the state of the market. So with that, let's discuss our Honua Kai market.

honua kai hokulani condo for sale

New Listings

Hokulani 530 - The floor plan of this unit is popular due to its size, with approximately 765 square feet of interior living space. Mountain view unit, priced at $789K.

Hokulani 412 - This 1,100 square foot unit offers ocean views, which are unlikely to be affected by the construction on the parcel to its south - but we cannot attest/guarantee this. Priced at $1.1M, it is a strong value in a market in which 2 bedroom units have been selling well above 1K per square foot.

Konea 526 - The sale of

The 2 bedroom niche at Honua Kai has been particularly active in the past year due to developer inventory dwindling down and the rental market for Honua Kai proving to one of the strongest anywhere in Hawaii. With nine 2 bedroom condos currently for sale, we are often asked which in our opinion is a particular stand-out within this niche. In the past month, the answer has been unequivocally clear: Konea 225.

Although it is the highest-priced 2 bedroom currently listed on the MLS (keep in mind, the developer does NOT list everything on the MLS), what makes Konea 225 such a strong value proposition is its unique location. 

honua kai konea 225

As can be noted, the '25' stack is located on the center of the inner courtyard, providing dead-on straight ocean views - no