Kihei Akahi Market Update September 2018
Posted by Alex Cortez on Monday, September 24th, 2018 at 4:44pm.
The Kihei condo market continues to be one of the most interesting in Maui and within it, there are a multiple anomalies, one is Kihei Akahi, which has proven to be one of the strongest micro-markets in Kihei real estate. Let's take a look at how Kihei Akahi is doing currently.
D-315 - Very desirable two-bedroom corner unit. Upgraded condition, outstanding view corridors, offered for $655K.
D-314 - One bedroom unit. Big ocean views, list price $479K.
D-613 - Penthouse level one bedroom unit with panoramic view corridors, list price $489K.
D-609 - Another penthouse level one bedroom unit. Clean condition, big views, with a list price of $525K
D-402 - Two bedroom unit on the northern corner of building D. Good orientation and coastal views.
Two units are in escrow, unit C-609 with a list price of $439,900 and C-305, listed at $455K. Both are in building C, which runs East to West, with the units then having south-facing view corridors.
For some context, below are pertinent charts detailing the Kihei Akahi micro-market through the years.
The Kihei Akahi market has seen a sharp increase in sales prices and absorption over the past year. Although the sale of B-104 may lead one to believe that the prices for 2 bedrooms are in decline, that sale is not reflective of market direction and condition within that 2 bedroom niche. For those considering the purchase or sale of a unit at Akahi, fill out the form below for a private consultation.
Active Listings
Currently there are five listings on the market, all of which are in D building:D-315 - Very desirable two-bedroom corner unit. Upgraded condition, outstanding view corridors, offered for $655K.
D-314 - One bedroom unit. Big ocean views, list price $479K.
D-613 - Penthouse level one bedroom unit with panoramic view corridors, list price $489K.
D-609 - Another penthouse level one bedroom unit. Clean condition, big views, with a list price of $525K
D-402 - Two bedroom unit on the northern corner of building D. Good orientation and coastal views.
In Escrow
Two units are in escrow, unit C-609 with a list price of $439,900 and C-305, listed at $455K. Both are in building C, which runs East to West, with the units then having south-facing view corridors.
Recent Sales
In the past 6 months, there have been a total of 10 sales, ranging from a Studio to a large 2 bedroom unit. Four sales in Building D, five in Building C, and one in Building B. Average sales price per square foot $646, with D-516 posting a very impressive high of $743 per sq. ft. Below is a map detailing said sales.For some context, below are pertinent charts detailing the Kihei Akahi micro-market through the years.
Conclusion
The Kihei Akahi market has seen a sharp increase in sales prices and absorption over the past year. Although the sale of B-104 may lead one to believe that the prices for 2 bedrooms are in decline, that sale is not reflective of market direction and condition within that 2 bedroom niche. For those considering the purchase or sale of a unit at Akahi, fill out the form below for a private consultation.
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.