Hawaii Real Estate Blog

Since its introduction as the first Fee Simple beachfront property on West Maui in 25+ years, Honua Kai has been a favorite among savvy investors, but with the recession looming during the first few years, the developer had to aggressively price its units in order to sell.

However, as consumer confidence increases, it is being reflected in robust sales activity at Honua Kai. As units vary greatly in size and location within the complex, taking average and median sales prices can be very misleading and can easily skew the overall market condition (a few sales can cause great fluctuations in either diretion), so using the average sales price per square foot proves to be the best metric. Look below at the developing trend:

What becomes evident is


Single Family Residences - Sales Update

By most metrics and anecdotal evidence by real estate professionals who specialize in the Wailea real estate market, with decreasing inventory and maintained buyer demand, values are on the rise and can presumably remain as such. But just how much have prices increased (if at all) over the previous years?

First, let us take a look at median and average sales prices. Median prices are the more reliable of the two subsets as they are less likely to fluctuate due to comparatively large or small sales.


As one will easily note, both the average and median jumped approximately $1M from 2012's sales to 2013 through 1Q. However, average and median sales prices do not provide the best bird's eye view of the market

Sales Update at Ke Alii Ocean Villas

As the Maui real estate market continues to rebound, it becomes critical for buyers and sellers to have a good understanding of market conditions at the micro level. As such, let us examine sales condition at Ke Alii Ocean Villas - arguably one of the most unique properties on Maui and one of my personal favorites.

First, let us take a look at Average and Median Sales prices since Ke Alii Ocean Villas was built

The first thing that becomes apparent is that the average and median have been fairly close to each other - thereby reflecting even sales that have not been overly influenced by one or two big sales during periods analyzed. But as there are different floor plans with different square footage, it

Aloha,

Below are noteworthy happenings in the Maui real estate market.

As high season continues and will come to a close shortly, one thing that is for certain is that it is a shifting market (across most micro-niches) and that well-priced properties are in short supply and are being absorbed remarkably quickly, oftentimes under multiple offer scenarios.