Haiku Beauty: 60 Ko’olau Road
60 Ko’olau Road is the definition of a Haiku estate: lush tropical flora, upgraded home with plantation style touches, soothing water feature, sprawling yard space, and accessory dwelling; this home has it all! It is located a few minutes from 5 corners (local Haiku landmark) with easy access to Hana Highway and is also just 10 minutes to Jaws also known as Pe’ahi.
We listed the property at $1,295,000 and held the price firm throughout its entire time on the market. We felt it fell nicely into the $1.3 million Haiku inventory and priced it competitively at the time. What set 60 Koolau apart from the pack was its impeccable construction, quality building materials, and enchanting grounds. At $411 per square foot, 60 Koolau was a very competitive deal in the market.
We got the property into escrow on the last day of May, and after a 2 month escrow we closed the property for $1,215,000. Our seller clients were happy to move on from the property after it served them so wonderfully throughout their time spent there.
The sound of a trickling waterfall over a pool of water lilies greets you at the entrance to this Haiku oasis. The chef’s kitchen offers enough space to whip up exotic culinary creations while still enjoying the company of friends and family. The master suite is on the opposite end of the home making it the perfect retreat at the end of the day. The main home has the welcoming flow of single level living with a special attention to features for entertaining. An easy walk up the stone path takes you to the tiki hot tub hale and separate structure currently used as a gym, brewery and workshop. This property is a pleasure to show and must be experienced.
The detail and care that has gone into the property at 60 Koolau transends the camera lens. It must be experienced to be appreciated. The single level floor plan is an entertainers delight with covered lanai, chef’s kitchen and covered outdoor BBQ/smoker. The covered lanai makes the perfect area for eating fresh star fruit or hanging banana’s right outside the door. The property has an unbelievable amount of beautiful flora, like beautiful and deep colorful hibiscus.
Haiku Homes For Sale Market Update
The Haiku region of Maui has seen 41 homes sold so far in 2016, representing a running sales volume of $36,081,250 and is one home sale behind the pace from last year. However, the median sales price (through start of 2016 to time of writing) is higher than last year by 10% at $825,000 compared to last years median sale price of $749,000. The average sale price for a Haiku home in 2016 is $880,030.
The lowest priced home to sell was an REO on two acres at $315,000. The lowest priced home to sell that was a non REO was a cute little plantation home on 1 acre, it was originally listed at $439,000 and closed for $339,000 cash. The highest priced home to sell closed for $2 million, it was Haiku Hill estate in the premier agricultural subdivision on the North Shore; the home features three bedroom suites, open ceilings, clear solid maple floors and custom fir cabinetry, everything about this home exudes island living, from the wrap around deck to the custom built covered lanai.
Aside from some truly rare and special properties, the Haiku market just about caps out at the $2-$2.4 million range. Over the last few years, there are only a handful of properties that sold above $2 million. Haiku is one of the few places where your dollar goes a little further as lot sizes are a little bit bigger in the jungle of Haiku.
Lanai view from the Highest priced Haiku home to sell this year
At the moment, there are 52 active Haiku homes for sale representing an inventory of $101,082,499. Currently the market is extremely top heavy with 38 listings in excess of $1 million. Of those 38, 17 are listed at a price point of above $2 million where Haiku homes are just not selling. A majority of those homes are looking at triple digits days on market.
Currently the average list price for a home in Haiku is $1,943,894. The lowest priced home is listed at $509,000, it is a charming 2 bedroom 1 bath 840 sq ft home with covered Lanai, attached carport with a separate laundry room and 5×7 storage room has been updated throughout. The highest priced home is an off the grid estate featuring two artist inspired homes, two pools, an art studio, nature trails, fruit groves, secret spots; secluded properties like this are increasingly rare in Hawaii and is listed at $6,400,000.
Contact a Maui Real Estate and Lifestyle Specialist
Please interview me to be your trusted Maui Real Estate and Lifestyle Advisor. I was born and raised on the island, and spend a considerable amount of time to inform my clients about the best deals currently on the market. Please do not hesitate to call me for your Maui real estate needs. I am more than happy to assist you in your home search.