As the first closing in 2018 at Honua Kai, this sale marks a very quick start to the year. As 10th floor unit, it is the highest possible level available and is able to offer luscious mountain views of the West Maui mountains. The lanai off the living adds another dimension to the unit because the sliding glass doors can be opened up to create a 1 free flowing living and entertainment area. One of the unique features about the unit is the oversized which includes high end Bosch appliances that give the unit an added pop.
On and off the market over the last few years, the unit came to market in 2017 after more than 1 year of a break from being listed. Within 3 days of coming to market, the unit was able to enter escrow with a very pleasing offer for the sellers. After close to 6 weeks in escrow, the unit closed for $746,000, just $3k off asking.
As one of the newest listings 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 $860,000
First brought to market in the middle of December, Honua Kai 404 an inner beachfront unit sitting 4 floors up so it is just elevated enough to capture sweeping views of the West Maui coastline and the island of Lanai in the distance. These particular type of units are desirable because of their location in the Hokulani Tower and proximity to the main pool, community shops, and beach. The open design concept flows nicely through the kitchen, living room, and outdoor lanai, so there is a natural breeze through the unit.
As a stunning 3 bedroom, 3 bathroom, and 1940 sqft unit, the condo is extremely desirable because of its spaciousness which allows the unit to command steeper rental fees. Since the unit on the south side of the tower, it gets plenty of natural light to enhance the airy atmosphere of the unit. With 2 ensuite master bedrooms, this truly is the perfect escape.
Listed at $2,968,000
Honua Kai 2017 Market Stats
The Honua Kai market experienced a stellar year with just under $50 million in total 2017 sales volume. Considering the year got off to a slow start, the market saw 11 straight months of production where it eventually averaged a little under 3 units sold per month. April and October were particularly productive as they represented more than 35% of 2017’s sales. January was the only month to have 0 sales. The units at Honua Kai only spent an average of 4 months on the market; 28 of the units sold within 6 months of being listed, while only 1 unit needed longer than 1 year.
In comparison to Wailea condos, Honua Kai represents great values because of their price point. 15 units sold for under $1 million and 13 sold for less than $1.85 million. On the top end of the market, 3 units sold in excess of $3.5 million where they carry $3k monthly maintenance fees. The monthly maintenance fees here are slightly on the pricey side because of the acreage of the complex, staff needed to operate the complex, and the cost needed to cover the 40 acres of landscaping.
- Number of units sold: 34
- Average sold price: $1,438,527
- Highest priced listing sold: $3,775,000
- Lowest priced condo sold: $675,000
- Number of units in escrow: 4
At the moment, the Honua Kai Condos For Sale are on the steeper side with only 4 listings priced under $1 million. The bulk of the listings are in $1 million which is about the middle price point of the market where their price/sqft ranges in the $1200-$1300; only 1 listing is priced above $3.5 million. For Value buyers at Honua Kai, they should be targeting anywhere from $900-$1100/sqft which would be considered an absolute steal.
- Number of Honua Kai condos for sale: 15
- Average asking price: $1,580,319
- Highest priced unit for sale: $3.9 million
- Lowest priced unit for sale: $738,888
Contact a Maui Real Estate and Lifestyle Specialist
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