Honua Kai Values 1 Bedroom Versus 2 Bedroom Condos

Typically our posts regarding the Honua Kai micro-market are much more in-depth, but the following information may be useful to some visitors and/or our clients, so we are posting it. 

We had a recent question from a Honua Kai prospective buyer, in which he wants to know whether there are discernible patterns occurring in the micro-market, and further broken down in niches - particular emphasis on 1 bedroom ocean view units and 2 bedroom ocean view units.

1 Honua Kai Bedroom Units

Take a look at the chart below, detailing the price per square foot of every ocean-view one bedroom unit sold - purposefully excluded the 1 bedroom + den to keep data most relevant. We added a polynomial trendline for context.

2 Bedroom Units

Take a look at the chart below, detailing the price per square foot of every ocean-view two bedroom unit sold thus far at Honua Kai. Mountain view (only) units were not considered for this comparison in order to best compare apples to apples in terms of valuation by a metric that is applicable - price per square foot. 

Conclusion

Looking at the data above, it seems that the 1 bedroom units are back to pre-sales prices, when measuring the price per square foot; whereas the 2 bedroom units are trending upwards but have not caught up yet to pre-sale prices. One could reasonably come to the conclusion that as the developer ran out of available 1 bedroom units, the re-sale market came back in full force, with supply and demand moving prices up. Now for those interested in 2 bedroom units, it is worth noting that the developer is down to the last handful of units and the general consensus among Honua Kai experts is that when all inventory is gone, values will increase and arguably will surpass pre-sales prices. 

Thinking about purchasing a Honua Kai condo for sale? Contact us - we know the micro-market exceedingly well and its unique value proposition within the overall Maui luxury condo market. Call 808.385.5034 or fill out the form below.