As the Honua Kai micro-market continues to rebound and is bracing for the upcoming high season - when we expect another upsurge in activity and inventory absorption - it is important to note some relevant news:

There is an approved increase in the HOA fees by a bit over 5%, taking the fees to $1.42 per square foot of interior living space. Note, the outdoor living space is NOT included when calculating HOA fees. This increase will become effective on January 1st. 

We keep abreast of the latest Honua Kai Resort and Spa so our clients receive the most up-to-date information available. Questions about selling or buying a Honua Kai condo? Contact us at alex@mauirealestatesearch.com or 808.385.5034 for up-to-date information about this and other

As 2013 winds down to a close and the slow season (September/October) inevitably leads to high season (starting mid December), it becomes pertinent to be informed of micro-market conditions. And with a strong emphasis on the Honua Kai condos for sale, we serve regular updates to keep our clients abreast of market trends/conditions.

As such, let us look at Honua Kai sales activity in the month of October:

New Listings

Hokulani 718 - 1 bedroom / 1 bathroom, 700 square feet, on the southern edge of the Hokulani tower. Priced at $869K.

Konea 329 - 3 bedroom / 3 bathroom, 1,610 square feet, on center of the inner courtyard of the Konea tower with sweeping ocean views. It has been previously offered by the developer for some time, but now was

For many potential investors, the idea of purchasing a Maui condo to be used as a vacation rental serves as the perfect melee of business and pleasure. However, in the past few years, financing has been a big obstacle due to (arguably unnecessary) VERY stringent lending qualifying criteria. Potential buyers must keep in mind that properties that allow vacation rentals fall into the category of unwarrantable or condotel - and most lenders see these types of properties as unreasonably high risks and then either do NOT finance these properties (most mainland lenders will fall in this category) or require higher-than-typical down payments. There are only a few properties such as Honua Kai where some lenders have accepted as low as 25% down, but the norm

I don't typically write in the first person, specially about my personal life. However, I had a recent visit to Honua Kai and I would like to share my experience - perhaps it might be helpful to someone else considering a stay at this luxury Kaanapali resort. As a preface, the following post is written from the perspective of a family with two small children (5 year old boy and 20 month old girl).

As my five year old had 'fall break' from school (and really, I don't remember having this much time off when I was a kid), we decided to have a 'staycation' on West Maui, take the opportunity to enjoy the Maui lifestyle and spend some much needed family time. So we looked at suitable options on the west side, from the Westin, to Honua Kai, to Kapalua Bay

The Kihei beachfront market has long known to offer one of the strongest values in Maui waterfront properties, so when a new listing becomes available that is worth of particular attention, we are glad to share it with our audience Such is the case with the listing of 1690 Halama Street.

Listed on September 24th, the large luxury home at 1690 Halama Street offers incredible ocean view, an incredibly appointed 3 bedroom / 3 bathroom home of nearly 3K square feet is the perfect fusion of indoor and outdoor living. With an asking price of $4.75M, it is sure to raise some eyebrows.

Within the beachfront and oceanfront niches, Halama has carved itself a special place due to its unique value proposition: direct oceanfront with year round sunsets

As the September month is nearing its end, it is an opportune time to look back at our last Honua Kai update and review what has taken place since then that is noteworthy.

Sold

The sale of Konea 451 is significant not merely due to its sales price of $3.649M, but perhaps more importantly as it solidifies a recent trend: the high-end 3 bedroom residences at Honua Kai  continue to be absorbed as the micro-market shifts from almost exclusively entry-level units to a more balanced marketplace. The 3 bedroom / 3 bathroom condo offers 2,280 square feet of interior living space and some of the most phenomenal views of the Pacific. The buyer received a closing incentive of 3 years of prepaid HOA's.

Pending

It comes as no surprise to a savvy Honua

The Honua Kai Resort and Spa offers an enviable location, beachfront on one of the most sought-after beaches in the world. However, even within a luxury Kaanapali resort such as Honua Kai, it is inevitable that there will be significant variance in available view corridors. Floor level is critical aspect in assessing a units view corridors, as although a lower unit such a Hokulani 150 may have obstructed partial ocean views as it overlooks the Duke's roofline, the same stack 3 floors higher would have simply stunning ocean views. And as one of the most common questions we hear from our clients is "How are the views from that unit", let us take a look at the map below for general orientation.

Premium Views

As mentioned previously, floor level is

We are please to report that the highly-anticipated grand opening on the Hoola Spa (click here) at Honua Kai took place on September 13th, with the Grand Opening scheduled for September 28th. With the perfect mix of sea and earth-inspired spa treatment, paired with Hawaii's luxury beauty brand: Malie Organics (found locally at The Bikini Market). Not only does it enhance the owner experience but it could easily be argued that it may help increase long-term values of Honua Kai condos.

Introducing the first salt room on Maui, it is a revolutionary treatment for skin and respiratory conditions. Spa treatments include massage therapy (from Lomi lomi, to Swedish, to Sports, to Deep Tissue, and many more), body care, skin treatments, and exclusive

As the Maui real estate market moves into the 'slow season', it can produce great opportunities for savvy buyers to find equally motivated sellers. Thus, it is important to have a strong sense of micro-market conditions and with a special emphasis on Honua Kai and its surrounding Kaanapali real estate market, we diligently watch sales activity to resonate the latest trends. 

So with that said, let us take a look at the week ending on September 13th.

New Listings

Since our last weekly Honua Kai update, one new listing came on the MLS: Honua Kai Hokulani 150. One of the prized, front-row 3 bedroom units, it is being sold furnished (rarely are the 3 bedroom condos offered furnished). It has undergone some landscaping to make it more private and

In maintaining a diligent pulse on the Hoolei condo market and providing our clients with the most up-to-date, insightful data on which to make informed decisions, we compiled the most comprehensive sales report for Ho'olei. This report takes into account every sale recorded as reported by the Realtors Association of Maui. For those interested in purchasing a Ho'olei condo for sale, contact us for a private consultation.