Luana Kai 2017 Market Update
This past year, the Luana Kai was able to manage 1 unit sold every other month for a total sales volume of just over $3.1 million. Compared to 2016, the 2017 sales data was not able to produce the same type of numbers; 2017 numbers were down by $1 million in sales volume and did 3 less transactions. For a better idea of sales data, check out our Luana Kai sales data page. On average, units spent slightly less than 6 months on the market where 1 unit was even sold within 6weeks of coming to market; all 6 units sold within 1 year of being listed.
Sales throughout the year tended to fall in the later half with 66% of all sales coming after July. Considering only $175,000 separated the highest priced sale and the lowest priced sale, the spectrum of units at Luana Kai were well represented and evenly distributed. 2 sales were in the $400k price point, 3 were in the $500k range, and 1 was in the $600k range. Some of the higly upgraded units have gone for as high at $750,000, but those type of units have been renovated with Wailea level finishes and style.
- Number of Luana Kai condos sold: 6
- Average sold price: $517,500
- Highest priced unit sold: $600,000
- Lowest priced unit sold: $415,000
At this time, there is a lack of Luana Kai condos for sale. The slim inventory is due to the fact that this complex sees a limited amount of listings at any given time and overall resident satisfaction with the community. The community is highly regarded because of it’s oceanfront access, lush open space, community amenities, low maintenance fees, and convenient location on South Kihei Road.
In addition to all the features listed above, Luana Kai also ranks highly because the units can be rented out on a short term basis. The fact that owners can generate revenue when they are not using their unit is a huge bonus. Since the complex is oceanfront, has many outdoor amenities, and located in an ideal Kihei location, owners can demand attractive rental fees.
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- Number of Luana Kai condos for sale: 1 (as of 1/21)
Contact a South 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.
Aloha,Anthony Sayles R(S) 808-280-6532 Anthony@DanoSayles.com