Honua Kai September Update
Posted by Alex Cortez on Thursday, September 26th, 2013 at 12:40am.
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 Kai expert that Hokulani 233 - a studio priced at $639,900 - and Hokulani 528 - a mountain-facing 1 bedroom unit - both went under contract. Well priced units in the entry-level of the Honua Kai real estate market are being sold and that is a pattern that we can reasonably expect to continue.
New Listings
One of the prime 2 bedroom units in Honua Kai is back on the market. Konea 703 has fallen out of escrow and is once again ready for a lucky buyer. The 2 bedroom / 2 bathroom inner courtyard Konea unit offers sweeping ocean views with unobstructed view corridors and will appeal to the most discerning buyer. Other developer sales that have fallen out of escrow: Konea 403, 450 and 506. As explained in the Honua Kai purchase process, the Letter of Intent takes the unit out of available inventory while allowing the potential buyer with the ability to conduct due diligence on condominium documents - but with 'no skin in the game', many buyers simply fall out for a variety of reasons.
Developer Inventory
Hokulani Condos
UNIT | LIVING SQUARE FOOTAGE | TYPE | VIEWS | PRICE |
150 | 2,225 square feet | 3 bedroom | Ocean View | $3.265M |
203 | 1,940 square feet | 3 bedroom | Ocean View | $2.155M |
315 | 1,320 square feet | 2 bedroom | Ocean View | $1.619M |
345 | 1,100 square feet | 2 bedroom | Partial Ocean View | $1.21M (PENDING) |
504 | 1,940 square feet | 3 bedroom | Partial Ocean View - Facing Starwood | $2.29M |
925 | 1,600 square feet | 3 bedroom | Ocean View | $2.215M |
1037 | 2,205 square feet | 3 bedroom | Ocean View | $2.875M |
Konea Condos
UNIT | LIVING SQUARE FOOTAGE | TYPE | VIEWS | NEW PRICE |
103 | 1,315 square feet | 2 bedroom | Partial Ocean View Interior | $1.505M |
139 | 1,325 square feet | 2 bedroom | Partial Ocean View Interior | $1.512M |
140 | 915 square feet | 1 bedroom + | Partial Ocean View - Facing Mahana | $749K (PENDING) |
145 | 1,315 square feet | 2 bedroom | Partial Ocean View Interior | $1.39M |
149 | 1,930 square feet | 3 bedroom | Ocean View | $2.267M |
203 | 1,315 square feet | 2 bedroom | Partial Ocean View Interior | $1.525M |
215 | 595 square feet | Studio | Ocean View | $670K (PENDING) |
242 | 1,230 square feet | 2 bedroom | Partial Ocean View | $1.025M (PENDING) |
325 | 1,610 square feet | 3 bedroom | Ocean View | $1.87M |
329 | 1,610 square feet | 3 bedroom | Ocean View | $1.87M |
340 | 915 square feet | 1 bedroom + | Partial Ocean View | $780K |
342 | 1,230 square feet | 2 bedroom | Partial Ocean View - Mahana Facing | $1.045M |
343 | 1,315 square feet | 2 bedroom | Partial Ocean View Interior | $1.465M |
403 | 1,315 square feet | 2 bedroom | Partial Ocean View Interior | $1.565M |
409 | 1,315 square feet | 2 bedroom | Partial Ocean View Interior | $1.505M |
440 | 915 square feet | 1 bedroom + | Partial Ocean View | $777K (PENDING) |
443 | 1,315 square feet | 2 bedroom | Partial Ocean View Interior | $1.475M |
449 | 1,930 square feet | 3 bedroom | Ocean View | $2.402M |
450 | 2,230 square feet | 3 bedroom | Ocean View | $3.589M |
506 | 945 square feet | 1 bedroom + | Partial Ocean View - Facing Hokulani | $825K |
507 | 1,315 square feet | 2 bedroom | Partial Ocean View Interior | $1.535M |
508 | 955 square feet | 1 bedroom + | Partial Ocean View | $820K (PENDING) |
509 | 1,315 square feet | 2 bedroom | Partial Ocean View Interior | $1.515M |
525 | 1,610 square feet | 3 bedroom | Ocean View | $1.89M (PENDING) |
550 | 2,230 square feet | 3 bedroom | Ocean View | $3.7M |
605 | 1,315 square feet | 2 bedroom | Partial Ocean View Interior | $1.58M (PENDING) |
606 | 945 square feet | 1 bedroom + | Ocean View | $805K (PENDING) |
625 | 1,610 square feet | 3 bedroom | Ocean View | $2.042M (PENDING) |
649 | 1,930 square feet | 3 bedroom | Ocean View | $2.657M |
703 | 1,315 square feet | 2 bedroom | Ocean View | $1.775M |
707 | 1,315 square feet | 2 bedroom | Partial Ocean View Interior | $1.7M |
743 | 1,315 square feet | 2 bedroom | Partial Ocean View Interior | $1.6M |
745 | 1,315 square feet | 2 bedroom | Partial Ocean View Interior | $1.72M |
749 | 1,930 square feet | 3 bedroom | Ocean View | $2.702M |
812 | 1,350 square feet | 2 bedroom | Partial Ocean View Facing Hokulani | $970K |
839 | 1,325 square feet | 2 bedroom | Partial Ocean View Interior | $1.872M |
We continue to keep our clients well informed so decisions can be made swiftly when the right property comes along. With that said, please feel free to contact us at any time.
Specializing in Makena and Wailea real estate, Alex Cortez is fully dedicated to representing his clients ethically and diligently. Contact him at 808.385.5034 or Alex@MauiRealEstateSearch.com for more information.