As the newest and only listing, Kihei Garden Estates G204 provides some much needed inventory to the barren Kihei Estates market. As a 2nd floor unit, there are 2 bedrooms and 2 bathrooms in this 851 sqft condo. The lofted area can either function as a 2nd living room or as a 3rd bedroom, which can come in handy if rented out as a short term vacation rental.
The unit has received some renovations last year, but it could use some new touches in other places. Otherwise, the unit has been well taken care of over the years and is awaiting an eager buyer. The unit is desirable not only for its spacious floor plan, but because it is just 1 block from the beach and 1 block to grocery store and surrounding restaurants, which makes it the ideal vacation rental property or primary residence. Coming with a monthly maintenance fee of $687, it is a monthly cost to factor in.
Listed for $424,000
Handful of 2017 Closings at Kihei Garden Estates
- Number of Kihei Garden Estates condos for sale: 2
- Average asking price: $325,000
Brought to market in April of this year, Kihei Garden Estates G101 only needed a week and a half to find a serious buyer. The unit was able to find a buyer so quickly because it is a rare 2 bedroom and 2 bathroom ground floor unit; only 4 of these type of units have sold within the last 10 years! With a little over 800+ sqft of living space, a unit this size is desirable because it comes with 2 bedrooms which is perfect for appeasing to large vacationing parties. Sold unfurnished and in original condition, the buyer is able to put their own personal touches on it with a remodel done to their liking. Sold for $365,000, $15k under asking.
Originally listed in early January of 2017, Kihei Garden Estates B103 is a modestly sized 1st floor unit with 1 bedroom, 1 bathroom and 640 sqft. The 85 sqft lanai off the living room is another great feature of the unit because it can function as an outdoor living area. Since the unit is on the first floor, it has access to the common green area off the lanai which can function as a communal backyard. This unit was also sold quickly as the buyer snapped it up within 3 weeks of coming to market. It finally sold for close to $25k under asking at $285,000 which could leave room for upgrades if desired.
Kihei Garden Estates 2016 Market Update
To get a better idea of what the Kihei Garden Estates market is like, we can take a look at how the 2016 sales performed. With 7 condos sold in 2016, the community saw a low amount o activity compared to some of the Kihei condos for sale where particular complexes like Kamaole Sands, Maui Kamaole, and Hale Kamole see sales in excess of 20 condos sold per year. The units that come to market move quickly, all 7 closings were able to find new owners within 4 months of coming to market, while the quickest sale took just under 2 months.
The Kihei Garden Estates community is popular among buyers because it is short term rentable, 1 block from the beach, and priced considerably well for only being a 1 minute walk from the beach and the allure of South Kihei Road. When looking at the 2016 sales data, there is only 2 points that the closings fall in. About 30% of the units sold in 2016 were able to close in the upper $200k price point, while the remaining 70% of the units sold in the mid to upper $300k price range. Surprisingly, both units that closed for under $200k were in great shape, slightly remodeled, and represented an excellent value at a blended average of $437.73/ sqft.
- Number of Kihei Garden Estates sold in 2016: 7
- Average sold price: $325,357
- Highest priced unit sold: $382,000
- Lowest priced unit sold: $270,000
Contact a South Maui Real Estate and Lifestyle Specialist
Ho’olei villas, we are also currently the in house “Sayles” team at Ho’olei Grand Wailea
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.
Aloha,Anthony Sayles R(S) 808-280-6532 Anthony@DanoSayles.com