March Closings at Haleakala Shores
First listed in early February of last year, Haleakala Shores A301 was a prestigious listing because of its location in the complex which allows for great ocean views of Kamaole Beach Park III. Also because the unit sits just across the street from Kam III, the unit is even more special because of its proximity to one of Kihei’s best beaches. The unit has only had 1 owner since the 70’s and they have meticulously cared for it throughout its lifetime.
Initially listed in the mid $700k range, the unit didn’t garner as much interest as you would think. With Haleakala Shores ability to be rented out as a short term rental, one would think the interest would have been stronger. The unit had to under 2 steep price reductions before it was able to attract a serious buyer. The unit entered escrow in late January of this year where it ultimately closed for $589,000, more than $170k off original asking.
Listed last year just as December hit, Haleakala Shores B310 is an awesome 2 bedroom, 2 bathroom, and 1048 sqft. The unit has been sprinkled with upgrades throughout and underwent several different remodels throughout its time. Most recent upgrades to the unit were a fresh coat of paint throughout, laminate floors, and travertine tiles. The unit was only rented out long term, so the unit was not subject to the constant wear and tear of short term rental turnover. Custom finishes are most evident in the 2nd area where it has a built in office area and provides convenient storage space.
First brought to market in the high $400k range, the unit need 1 slight price reduction to be able to attract a serious buyer. The unit entered escrow at the end of January 2018 and proceeded through a quick escrow where it closed for a final price of $362,000.
Haleakala Shores Market Update 2018
The Haleakala Shores market has been off to a rocking start and has seen $2.5 million in sales volume through 2.5 months. The increase in productivity from 2017 is no surprise as inventory has been down across the Valley Isle. In addition to the lack of condos available, Haleakala Shores’ prime location across from Kamaole Beach Park III makes it highly desirable among buyers. Of the 5 units sold this year, only 1 unit took longer than a year to sell while the remaining 4 unit sold within 3.5 months of being listed.
The price range for buyers at Haleakala Shores can vary based on a few things: 1. location in the complex, level of upgrades to the unit, short term rental history, and time on the market. The lowest priced unit sold in the $300k range which is a great value considering the unit is a short term rental and located right across from the beach. For the most part, the $500k range is the going rate for a unit Haleakala Shores. Buyers can expect to pay around $450-$550/sqft.
- Number of Haleakala Shores condos sold: 5
- Average asking price: $494,200
- Highest listed unit: $589,000
- Lowest priced unit: $362,000
At this time, there is only 1 Haleakala Shores condo for sale. Buyers interested in units here have become extremely savvy and are ready to move on properties they like. 80% of the units sold this year lasted for less than 100 days on the market.
The best way to stay in touch with market and not miss out a new listing is sign up for our Haleakala Shores new listing alert.
- Number of Haleakala Shores listings: 1 (as of 3/8/17)
Contact South Maui Real Estate Specialist
Our team has been blessed to have been part of this extraordinary community since its creation in 2005. Our real estate information office is located on site and is open 7 days a week. It truly brings a smile to my face meeting first time guests, return visitors, and full-time residences that love and embrace the South Maui lifestyle.
We’d like to extend an invitation to you to feel free and stop by the on-site Ho’olei real estate information office, which is open daily, before the reservation desk, from 9:00AM – 5:00PM.
Mahalo,Anthony Sayles R(S) 808-280-6532 Anthony@DanoSayles.com