With a Kokomo address, this Haiku property sits on a flag lot so it is tucked away from the road noise and secluded with ample privacy because of the large bushes separating the properties. The property is located in a convenient location from Makawao and Kula Highway, so there is easy access to explore Upcountry living or the convenience of town.
We brought this compound to market in mid August and it immediately attracted the interest of buyers; after some great showings, it only took 3 days before an offer was accepted and we were able to enter escrow. Sitting on more than 1/2 acre with a home and a cottage, the property is a fantastic value for the buyers because of the possibility to rent one structure out while living in the other.
Sold for $884,000, $15k off asking
The main home was used as the main rental unit by the owners, while they lived in the cottage. So the sellers spent some time and care in making the home an attractive place to live. Offering 4 bedrooms and 2.5 bathrooms, it provides plenty of space for families or anyone looking to spread out. The garage functions as a bonus storage space or can perfectly house cars.
The cottage is 2 bedrooms and 1 baths with 700 sqft plus a sizable outdoor deck so it is fantastic option to be rented out or lived in while the main house is rented out. The cottage was remodeled over the years and well taken care of so everything feels brand new. It was designed to be as open concept as possible, so the kitchen flows nicely into the living room and small little recreation area.
The Haiku homes for sale market is outperforming the 2016 sales data over the same period (Jan to Nov) by more than 20 homes sold. Interestingly, there are 2 price points that have been the most productive but represent two different buying spectrums; the $1 million and $700k price range have seen the most homes sold with 14 and 13 each. Haiku is a good place for people looking for value buys because 13 buyers were able to pick up a single family home for under $500k which is an absolute steal for Hawaii home prices.
The Haiku homes market is an incredibly diverse place to buy Maui Real estate; with the abundance of land that is available in Haiku, homes can range from modest single family homes to secluded compounds to sprawling cliff side estates. The latter two properties described are some of Haiku’s best and routinely priced above $1 million, where 2017 has seen 16 homes sold in excess of $1 million. Of the 75 homes sold, 50 of them have been able to close within 6 months of coming to market which indicates that Haiku buyers will act on properties if priced right.
- Number of Haiku homes sold: 76
- Average sold price: $869,150
- Highest priced unit sold: $3,999,900
- Lowest priced unit sold: $335,000
Highest Priced Home Sold
Lowest Priced Unit Sold
As of 11/14, the Haiku Homes for sale market represents a projected sales volume of $91,834,499 worth of total inventory. Although Haiku carries a reputation for being an “affordable” place for Maui buyers, 65% of the homes on the market are priced above $1 million; so clearly, the market is top heavy with Haiku estates and private North Shore compounds. Of the 37 homes priced above $1 million, 14 of them are listed above $2 million. It’s typical to see the marker favor the higher end because it takes a little longer to conjure up buyers looking for property in the 7 figures range.
On the lower end of the Haiku price point, there 20 homes under $1 million, however, 16 of the 20 homes are listed from $500k to $1 million, so there really is little to no inventory in the under $500k price range. For buyers looking for a deal, 37% of the homes on the market have been listed for longer than 6 months on the market and are primed for an offer.
- Number of Haiku homes for sale: 57
- Average asking price: $1,611,131
- Highest priced unit: $5.5 million
- Lowest priced unit: $408,000
Contact A Maui Real Estate 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.
Aloha,Anthony Sayles R(S) Anthony@Danosayles.com 808-280-6532