High season is here in full force and sales activity has been high since late December - anecdotally, speaking, as some of the sales from 'high season' activity will not consummate until later in the year. How has the recent influx in visitors affected the Honua Kai condo micro-market? First, read our Honua Kai 2014 Review and then put it into context with January's activity.

New Listings

Five new listings hit the market in January:

Hokulani 730 - The lowest priced 1 bedroom unit at time of listing, with an asking price of $765K. The large 765 square foot unit is on the outside perimeter of the Hokulani tower, facing the mountains. 

Konea 110 - On the ground-level, south-facing perimeter of the Konea tower, Konea 110 is priced at $859K. A

With a recent influx of REO's (bank-owned/'foreclosure'), some arguably strong values have come on the market. Below are a few hand-selected options in varying areas and offering significantly different lifestyle values:

Maui Meadows

3210 Akala Drive - An impressive home by any standard, the nearly 4,000 square foot Maui Meadows 6 bedroom / 4 bathroom offers outstanding ocean view corridors and the entertainment space is anchored by the pool and spa. Need more room for guests and/or family? The 2 bedroom / 1 bathroom detached cottage will serve that need beautifully. With a level half acre lot and easy access within Maui Meadows, this is a 'must see' for the purchaser looking for a large home, big views, and privacy. Listed for sale at $1.699M

Being in the midst of high season and anecdotally seeing a significant amount of activity, it can cloud judgment of actual market conditions. In an effort to provide our clients with transparency on micro-market positioning and shifts in one of the most sought-after properties on Maui, we present our Honua Kai Real Estate 2014 Sales Report.

Overview

With an increase of roughly 10% in sales volume, from 2013's $90.3M to 2014's $99.4M, demand is clearly keeping up through the upswing in values. The number of sales decreased slightly, from 76 the previous year to 73 in 2014 - one could argue that the slight decrease is due to less inventory - in 2013, 51 units were listed for sale, compared to 45 in 2014. Furthermore, the Median sales price rose

Micro-markets throughout the Maui real estate MLS can experience different market conditions based on several factors (i.e. competing inventory, availability of financing, available inventory, economic conditions in feeder-markets). And with a keen eye on the Ho'olei micro-market, we are pleased to publish our 2014 Infograph:

Contact

Thinking of purchasing or selling a Hoolei condo for sale? Contact us - our team encompasses leading experts of the Wailea real estate market and we would love to answer any questions.

Over the past two months, we have received a number of inquiries regarding the status of Villas B and C. In the interest of transparency and efficiency, we are posting our answer online to better serve our clients and those interested in more information.

Need information on Andaz Residences Wailea?   Contact Us Today

The Andaz Residences Wailea sales are represented by the Wailea Group, with its office at The Shops of Wailea. Since the introduction of the Andaz property with some elements for sale, the big question has been what will be the status of the two front-row villas as the value proposition of those will be virtually without comparable in Wailea - arguably the only ones near the same stature would be the front row buildings A and B at

Micro-market all across the island experience significantly different conditions, as such we post our monthly updates on the Honua Kai market. Without further ado, here is our synopsis for the month of October.

New Listings

Hokulani 240 - A premium 1 bedroom / 1 bathroom condo with 700 square feet of interior living space featuring fantastic ocean and mountain views. On the northern perimeter of Hokulani, it is in arguably the most desirable locations among 1 bedroom units. 

Konea 206 - For investors, the 1 bedroom + den floorplan is very sought after due to its high rentability and comparably lower overhead in ownership (when compared to 2 bedrooms). Well located unit with ocean views, priced well at $976,500.

Konea 301 - Want to be front

In the past few years, Honua Kai has become one of the most sought-after properties in Hawaii, with its 650 sales thus far amassing an impressive $776M in total sales volume. With the nearing high season, expectations are high that the pent-up demand, coupled with diminishing developer inventory will result in upwards pressure on prices, with specific niches seeing higher-than-average demand. One of the inventory-hungry micro markets are premium one bedroom units. 

As such, we are pleased to announce the introduction of Hokulani 240. In arguably one of the best locations for one bedroom units, this units offers 700 square feet of immaculately maintained interior living space with an additional 145 square feet of outdoor space seamlessly integrated

With developer inventory dwindling, there are specific property types that are in high demand due to the lack of available options. One niche within the Honua Kai micro-market that continues to be highly sought after is the 1 bedroom + den. Due to its size, it is considered to be the strongest performer among vacation rental properties in Honua Kai, which as a whole is considered to be in a league of its own - few properties in the Maui condo market can post similar numbers to those in Kaanapali's newest addition, Honua Kai.

Now offered for sale by Powerplay Destination Properties Hawaii, Konea 206 is the only 1 bedroom + den currently available for purchase at Honua Kai. Featuring 945 square feet of interior living space, seamless integration of

Delivering a superior guest experience has resulted in Honua Kai gaining a reputation as one of the most sought-after destination resorts on Maui. As such, Intrawest Honua Kai Hospitality Management continues to spouse a leadership culture where the guests are the first and foremost priority. And now, the responsibility of spearheading Honua Kai's drive to excellence falls on the newly appointed manager, Claudio Andrade. 

With hotel/resort experience spanning the past 25 years across multiple continents, Mr. Andrade was promoted from Assistant GM to now being at the helm as General Manager. His past work in Hong Kong, Miami, Puerto Rico, and the Hawaiian Islands translates into a well-rounded professional qualified for the lofty position.

For more

Anecdotally, the Maui real estate market has been very active through what is typically the 'slow season' (September/October) in preparation for the upcoming high season. Although the overall sales numbers are lagging behind 2013 YTD, the introduction of the Montage Residences has translated into significant sales in a market very much in need of such. And now with price adjustments and introduction of additional inventory, the Andaz Residences Wailea are seeing more well-deserved activity/interest. 

As such, the closing of Andaz Villa F-4 was announced earlier today. The luxury unit offers 2,644 square feet of interior living space and additional 500 square feet of exterior entertainment space (square footage is approximate). The unique value