Newest August Listings At Honua Kai
As the latest listing to the complex, Honua Kai 240 is a meticulously kept unit with inner courtyard views and an in demand vacation rental. Located in the coveted Hokulani Tower, which is considered the quiet building, the unit commands a pricey rental premium because of its proximity to the spa and elevated levels of privacy. At an even 700 square feet of living space, plus 145 more square feet of lanai space, the unit lives a lot larger than its 1 bed and 1 bath specs would suggest.
Listed at $945,000
Sitting directly beachfront, Honua Kai 202 represents the absolutely best available. Priced as the 2nd highest listing, there are multitudes of reasons why buyers will see this unit as the most desirable. Not even 60 yards from the sandy shores, the units location provides convenient access to the beach, the pool, and the many other amenities available at the complex. With 3 beds, 3 baths, 2225 sqft, the unit is one of the largest floor plans available and provides plenty of room to stretch out and relax. The unit does have maintenance fees of $3720, but the ability to be rented as a short term rental provides the option to generate cashflow to help cover rental costs.
Honua Kai Market Update
So far, the Honua Kai market has absolutely been on fire and is averaging just under 1.5 condos sold per month. The most popular month has been April, which largely coincides with the time frame it would take for contracts written in the late winter busy season to close. While the average sold price is just above $1.5 million, the median price is more along the lines of $1.1 million; 2 closings over $3.5 million are skewing the data a little and inflating the average sold price. About 70% of the listings closed for under $1.5 million which is more in line with the price point of the community.
- Number of Honua Kai condos sold: 18
- Average sold price: $1,533,138
- Highest priced unit sold: $3,775,000
- Lowest priced unit sold: $712,500
At the moment, there are a staggering amount of units available for sale with 23 total; with that many listings on the market, buyers have a variety of units to choose from and have the ability to easily substitute one unit for another because the amount of inventory. Interestingly, only 30% of the listings are under $1 million, while a further 50% is listed in the $1 million dollar range. Lastly, the remaing 5 units are listed above $2 million.
- Number of Honua Kai Condos for sale: 23
- Average asking price: $1,655,903
- Highest priced unit sold: $3,895,000
- Lowest priced unit sold: $725,000
Contact a Maui Real Estate and Lifestyle Specialist
The famous Hana cross above the ranch
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