Another month is in the books and Honua Kai continues its micro-market dominance as one of the hottest in all of Hawaii. So with that, let's take a look at the month of July in Honua Kai real estate.
The following are listings added to the market in the month July:
Hokulani 244 - Inventory of one bedroom units with partial ocean views is minimal, at best. This unit is on the 2nd floor of Hokulani, outer perimeter on the north side of the building, facing the Konea tower and the Luana Garden Villas enclave. Priced at $959K, it will be interesting to see whether the market will bear a price within that range. The last true 1 bedroom to sell over $900K was Hokulani 438 which sold a few months ago for $919,900 - arguably better views from its…
Today's question comes from a buyer interested in Launiupoko real estate.
Question: We're interested in buying a house in Launiupoko, but we're concerned that it may be too far removed from the rest of the island and may be a more complacent lifestyle. What can you tell us about the area?
Answer: Great question. To start, we're a bit biased about Launiupoko as it is one of our favorite areas in all of Hawaii, but we'll answer objectively. The Launiupoko area has a strong reputation as having some of the finest, plantation-style luxury homes on Maui, with expansive ocean view corridors and a degree of privacy rarely found. So although it may appeal to those who want to quietly enjoy their property perched on the hillside overlooking the Pacific, it also has…
Today's question comes from a buyer interested in Honua Kai Luana Garden Villas.
Question: We are interested in Luana Garden Villas. As we would be financing the purchase, do you have a lender that you would recommend?
Answer: Great question. When buying brand new construction, it is important to work with a lender knowledgeable about the property in question and who has loan products available for the purchase. Below we detail lenders, in no particular order, who are able to finance your purchase of a luxury villa at Luana Garden.
First Hawaiian Bank Rick Smith, email@example.com
Central Pacific Bank Spencer Lee, firstname.lastname@example.org
Wells Fargo Bank Jon Levin, email@example.com
To those fortunate who have visited Montage Residences Kapalua Bay, it is no surprise this Kapalua luxury property was honored as the top resort hotel in Hawaii by Travel & Leisure. The world renowned publication conducts an annual survey of its readers, with hotels being rated based on quality of accommodations, level of service, dining, and overall value proposition to guests.
Breathtaking view of Montage Kapalua Bay
A large reason for the Montage's success is its low density - sitting atop 24 of the most valued acres of Kapalua real estate, the Montage consists of merely 50 luxury units, which are rented in various configurations including up to large 4 bedroom condos, bringing the privacy and space of a home, with the convenience of 5 star resort…
With expertise in the Wailea real estate, our team keeps a close eye on the market at the micro granular level, for each condominium and subdivision in the Wailea and Makena area. As such, let's take time to review how the Hoolei condo market is doing through the first half of the year.
To start, let's look at active inventory.
Hoolei T-2 - Located on the row closest to Wailea Alanui Dr., units in buildings S and T are generally the lowest priced at Hoolei due to being exposed to more road noise and having less elevation (lesser ocean view corridors). This Maile floor plan is spacious, with over 2,400 square feet. Priced at $2.1M, it is slightly above comparable recent sales in building T and S, we'll see if there's enough in the market to bear…
Our team is proud to announce its participation in the sale of one of Makena's most exclusive homes, 18 Ualei Place. The sale recorded on July 20th at a sales price of $8.15M, marking one of the most significant sales on Maui in 2018. Island Sotheby's International Realty displayed the utmost Makena real estate expertise in representing both Seller and Buyer in the transaction. With over 7,000 square feet of interior living space, seamlessly expanded by the integration of the covered outdoor living areas, all carefully crafted with the highest quality of materials and expert craftsmanship, the 5 bedroom estate marks one of the strongest values in Maui luxury market in years. Built in 2016, it showcases the latest in technology while maintaining a Hawaiiana…
Through decades, Makena real estate has proven to be one of the strongest ultra-luxury Hawaii real estate markets in the entire State. With an idyllic location in a comparably undeveloped area (specially when compared to Wailea or Kapalua), yet boasting some of the most pristine coast anywhere in the world and luxury amenities rivaling those of any ultra affluent resort town, it is easy to understand how and why Makena appeals to some of the world's wealthiest and most famous - from Hollywood movie stars, to Silicon Valley entrepreneurs, to Wall Street tycoons and everything in between making Makena their Hawaii getaway.
As we are half way through the year, it is a great time to measure how the Makena market is faring. First, let's look at how 2017 turned…
Since it's introduction, Montage Residences Kapalua Bay have become one of the most sought-after Hawaii luxury real estate micro-markets in the entire state. With an ideal beachfront location in the heart of the Kapalua resort, world class amenities, on-site dining and activities, it is easy to see how it has become such a dearly valued and in-demand property. Today let's take a look at how the Montage Kapalua market is doing within the overall Kapalua real estate market..
Currently there nine units actively on the market, but the best metric of market activity is recorded sales. In 2017, there were a total of 12 sales recorded, at an average price of $4.532M ($1,582 per square foot). Sales prices are slightly up in first half of 2018, at an average of…
On our previous post, we detailed a list of complexes that allow for Maui Condo Vacation Rentals. As a follow up, it's pertinent to also understand that single-family homes are not permitted to be used as vacation rentals UNLESS they are permitted specifically by the County. Now Maui County has a process by which applicable Single-Family Residences can apply for a permit, these permits are non-transferrable (cannot be passed through a sale to the new owner) and are limited to a specified amount per Region.
As a service to our clients, we are posting the most up-to-date list as of the publishing of this post, 07/15/2018. For confirmation that a specific property is still permitted or discuss available options for purchase, contact us.
Today's question comes from a Buyer who is interested in purchasing a condo in Kihei. We are posting with Buyer's permission, for the benefit of others who may have same or similar question.
My family and I are looking for a condo in Kihei to buy and we want to rent it out when we're not there. The problem that I'm facing is that I'm finding conflicting information as to which complexes allow vacation rentals. Any help would be really appreciated on this.
For prospective purchasers looking into the Maui condo market, one of the first questions is whether the unit will be used as a short-term rental when not occupied by owners and/or their guests. To start, there are many terms that are generally meant as interchangeable in this context:…