This past weekend, we are proud to say we were able to secure a great single level home in the heart of Kihei for our buyer clients. I am especially happy for them because we scoured the market for the best value at their price point and we were able to decide upon 42 Kawailani Circle. Just up the road from the beach, a short 2 minute drive to the nearest grocery store and restaurants, our clients could not have picked a better location. Included in the purchase were already installed photo-voltaic panels that keep the electric bill at under $250 per year!
Over time, the unit has been upgraded with Kitchenaid stainless appliances, granite counter tops, and new sliding glass door window treatments that only enhance the open design concept. The tropical yard acts as a nice counterpoint to the home with a space for a garden while the fruit trees surround the pond with lily pads and a water fountain.
The home first came to market in the middle of December of last year and did not receive too much interest. The sellers reduced their list price by $20k and it was enough to peak our clients interest. In the end, we closed for $600,000, $40k off original asking.
Great opportunity to own a ready to build corner lot in Kilohana Waena, South Maui’s most desirable new community. Homesite #13 offers 8,141 square feet of land area (0.18 acres) and is conveniently located just a short stroll away from the famous Keawakapu Beach, one of Maui’s finest! Build your custom home here and savor all the joys of South Maui coastal living. Kilohana Waena borders the Wailea Resort where you can enjoy the best boutique and luxury shopping, savor a myriad of tantalizing restaurants, and challenge yourself at the three championship golf courses.
Kihei Residential 1st Quarter 2018 Market Update
The Kihei residential market is a popular choice among buyers because there is a little bit of everything for everyone. The diversity of the Kihei market is best understood by understanding what kind of options are available, buyer can find everything from beachfront homes to homes sitting on large lots at an elevated location. With 40+ homes sold through the first quarter, Kihei sees plenty of activity because buyers can find a variety of homes for under $700k. More than 80% of the homes sold were able to find buyers within 6 months of coming to market.
Interestingly, only 7 homes have sold this year in excess of $1 million where 6 of the 7 sold were in a price range of $1-1.75 million. The highest priced home sold was a beachfront Keawakapu beach estate that is of Wailea quality and only is considered to be Kihei because of its address. On the low end, 1 home sold for under $500k and was a REO home that was sold as is.
- Number of Kihei homes sold: 43
- Average sold price: $1,255,614
- Highest priced home sold: $22.8 million (atypical sale)
- Lowest priced home sold: $447,500
With a total of $110 million in inventory, the Kihei homes for sale market has a nice mix of entry level homes, middle tier, and luxury estates. Interestingly, considering increasing prices, it is homes priced under $1 million that dominate the market at the moment with 36 homes. While in the high end, 8 homes are listed above $2.6 million.
The average asking price is inflated due to 2 outlier listings. The two in particular are beachfront estates on Keawakapu and should be considered Wailea homes rather than Kihei, if we take away those two listings, the average price of a Kihei home falls by $700k yo $1.35 million.
While there is a fair amount of inventory on the market, if nothing catches your eye, sign up for our Kihei residential new listing alert.
- Number of Kihei homes sold: 56
- Average asking price: $2,030,985
- Highest priced home for sale: $26.9 million
- Lowest priced home for sale: $479,000
- Number of units in escrow: 35
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