So How's The Honua Kai Market?

** Note: This post is not as statistics-based as our usual market reports, but rather relies on anecdotal experience. **

The most frequently heard question by our team is "So how is the market at Honua Kai doing right now?" We post our monthly updates in order to provide real-time narration of micro-market conditions and provide insight of ascertainable trends as they develop. However, such short-term analysis does not provide a bird's eye perspective of sustainable trends - and with a minute micro-market, it is easy for one sale to sway statistics one way or the other.

For several months now we have expecing that prices will increase as the developer inventory dwindles to mostly premium units in the Konea tower. Our reasoning being that without the downwards pressure on values, re-sale owners will be more apt to push the boundaries upwards. And let's not forget how the Honua Kai developer increased prices on several of their units for sale, as previously reported in February. 

Absorption continues to be high as confidence among potential buyers proved to be the difference during the past high season. In the first 4 months of 2013, there were 26 sales recorded with a total sales volume of $29,203,255. Whereas in 2014, in the same time period there were 28 sales with a total sales volume of $39,901,300.  This is NOT to imply that values increased by a 3rd in a year - although possible, it is not a blanket statement to be inferred Honua Kai-wide. 

In addition, we are seeing buyers more confident and able/willing to purchase the big-ticket units that were more seldom sold in the past few years. As an example, in the first four months of 2013, there were 4 three bedroom villas sold. Whereas in 2014, there have been 5 five luxury villas sold - although as per a statement from the developer's agent, there have been 7 sales thus far this year. 

Whether it is a mountain-view one bedroom unit, a highly successful one bedroom plus den, or a front-row three bedroom luxury villa, there IS demand at Honua Kai for well-priced properties. Thinking of selling or purchasing a unit at Honua Kai? Contact us - our intimate knowledge of Honua Kai and its position within the overall Kaanapali real estate market will prove to be particularly insightful for potential buyers.