We first listed this unit in late August of last year and was a standout value at the Sugar Beach Resort because it located directly on the beach and offers pristine access to the longest strip of white sand beach on the island! From the top of the 6th floor, Sugar Beach Resort PH 34 offers the best penthouse ocean and mountain views available along the South Maui coast! During the winter months and throughout spring, residents can enjoy whale watching from the lanai, while in the summer months it is perfect for catching Kihei’s cotton candy color sunsets.
Upgraded in 2016, the unit was renovated with a variety of upgrades and now feels like the modern Maui retreat many dream of. The open concept design takes advantage of open spaces and allows for natural light to flow through the unit in abundance. Maintenance fees are a little steep here, but cover common area costs, all utilities, phone, and internet.
Considering all of the amenities, quality of the unit, and world class location, we listed the unit at $669,000 and held the price firm throughout its time on the market. We closed for $650,000, just $19k under asking or for 97% of list price.
Walk for miles along shimmering white sandy beach with warm ocean waters lapping at the shore. Swim in the glorious pool and dip in the beautiful Jacuzzi. Sugar Beach Resort has it all! Penthouse 34 is fully furnished and equipped for your comfort – It can be your “home away from home” as well as a fabulous vacation rental.
Sugar Beach Market Update 2018
Not much to report with only two units selling in the middle to lower price point at $500k and $650k. It is the floor level in the building and quality of finishes that have a lot to do with the final selling prices. The complex was originally built in the late 70’s and some of the units have not been upgraded since.
Sugar Beach Market Update 2017
2017 was an alright year for the Sugar Beach Resort market where it was able to average just under 1 unit sold per month and reach a total sales volume of just over $7.1 million. However, compared to 2016, 2017 produced 4 less transactions and more than $1.2 million less in sales volume. Although 2017 averaged just about 1 sale per month, sales were very sporadic with 70%+ of the units sold in the first half of the year and the remaining 3 in August and September. Sugar Beach Resort is always met with strong demand because it is able to offer a Wailea quality beach just steps from the complex, priced in an appealing price point, and are great values because they can be rented as short term rentals.
Units here averaged just under 4 months on the market where 9 of them needed less than 6 months on the market. In fact, 4 of them needed just about 2 months to finder a buyer. Only one of the units sold was a 2 bedroom unit and definitely came with a hefty price tag as it was close to double the next priciest listing sold. The lowest priced unit sold for well under $500,000, but could definitely have used some TLC. On the high end, buyers can expect to pay above $1000/sqft; while on the low end, around $750/sqft.
- Number of Sugar Beach Resort condos sold: 11
- Average sold price: $643,722
- Highest priced unit sold: $1.2 million
- Lowest priced unit sold: $450,000
With only 2 active listings in the Sugar Beach Resort, sellers hold the leverage as there aren’t many options available if you’re not willing to meet the list price. The best way to stay up to date is with our Sugar Beach Resort new listing email alerts. They can be customized to fit any type of property on Maui you are interested in.
- Number of Sugar Beach Resort condos for sale: 2
- Average asking price: $562,500
- Highest priced unit: $630,000
- Lowest priced unit:$495,000
- Number of units in escrow: 1
Contact 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 in South Maui 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