Stunning Remodel: Maui Banyan P-104
Maui Banyan unit P-104 is an absolutely great remodel with modern finishes reminiscent of those alluring renovations you see in a home and garden magazine. The sleek and dark wood floors contrast nicely against the tonal whites of the kitchen counters and subway backsplash; the bathrooms were also neatly upgraded to match the overall design and flow. The unit was lost sold in early 2016 and has only received its renovations this year, so the unit is pretty much a brand new unit. The unit does carry a rather steep monthly maintenance fee of $697, but that can easily be offset by its potential as a short term vacation rental.
Listed at $649,000
Are you looking for the best of the best…This unit was completely taken down to the bare bones and meticulously rebuilt using only the best materials. This 2 bedroom/2 bath unit is bright throughout and has a very modern feel to it. Right in time for high season and to take advantage of rentals. This unit is a lock-out and therefore, the equivalent of purchasing two units for the price of one as each side can be rented separately or as one 2 bed/2 bath suite.
Maui Banyan Market Update
This year to date, the Maui Banyan condo market has been quite active with 10 units sold so far. The complex boasts a running sales volume of $5,403,000 with an average sold price of $540,300. 60% of the units have been sold in the $500,000 price rnafe which seems to be the sweet spot in the complex at the moment. Interestingly, there were no units sold in the $600k range, while 1 unit sold above $700,000. The units do carry a monthly maintenance fee of anywhere from $470-$800; however, the complex has a strong reputation as a short term vacation rental, so potential rental income can help mitigate costs. All of the units sold this year have been two bedrooms and two baths.
Great ocean views from the makai (ocean) facing tower
The highest priced unit sold for $65k under list price at $710,000. This 4th floor unit has a unique lock out feature allowing for a double rental or the option of living in one unit and renting out the other. Recent upgrades include tile flooring in the master suite, new interior paint, new kitchen appliances and backsplash. The living, dining and master furnishings were upgraded a year ago too.
The lowest priced unit sold for $420,000, $80k off the initial list price. This 2 bedroom 2 bath unit was sold fully furnished; it also offers a “lock out” feature with 2 front doors, allowing for 2 rentals at once. The unit is on the ground floor and is in rather original condition.
Maui Banyan Condos For Sale
- Number of listings for sale: 8
- Average asking price: $568,428
- Highest asking price: $688,000
- Lowest asking price: $434,000
- Number of units in escrow: 4
2575 S KIHEI RD #P202
2575 S KIHEI RD #H412
2575 S KIHEI RD #G-309
Complete list of Maui Banyan Condos For Sale
Contact a Maui Real Estate and Lifestyle Specialist
The view from Hoolei Villa A6, the ultimate privacy and seclusion in the Wailea Resort
Please consider 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.
Aloha,
Anthony Sayles R(S) 808-280-6532 Anthony@DanoSayles.com