Summer Closings at Kihei Akahi
We first listed Kihei Akahi Unit D113 in October of last year and priced it in an attractive price point. We felt the unit was an awesome value in the complex because Kihei Akahi units can be used as short term rental units to generate income. Having completed a head to toe remodel last year, the unit lives brand new. The light grey tones throughout the unit give it a refreshing modern vibe that can be similarly found in Wailea condos for sale.
With 1 bedroom, 1 bathroom, 655 sqft, and an outdoor lanai, it is the ideal 2nd home or rental property. Buyers have the added benefit of flexibility because the unit can be rented out while not in use or not rented out at all. Another attractive feature for buyers is the low monthly maintenance of $541 which is a great deal considering it covers the maintenance of the landscaping, pools, bbq areas, and tennis courts. The attention detail during the remodel is evident as the level of finishes is superb.
We listed the unit in the upper $400k range and eventually sold for $450,000
Kihei Akahi unit C210 was listed in late February of this year and it take long to create some strong interest. The unit has been wonderfully upgraded just this year with a new washer/dryer installed in late March. As a 2nd floor condo, the unit has elevated views over a tropical courtyard setting and offers a quite place to relax. Sitting on the northern end of the community, it ideally situated away from the road noise and in a private corner of the complex. The Kihei Akahi was finished in the mid 70’s and over the years, some units have been left original while others have been upgraded. So the unit is the perfect example of what a full blown remodeled unit can look like.
Complete with a top to bottom remodel that is barely even a few months old, the unit looks, feels, and is pretty much brand new. The sellers paid attention to every detail and elevated the unit to the very best available within Kihei Akahi. The new upgrades are attractive to short term renters and allows the unit to command a premium in the rental market.
Sold for $450,000, $29k off asking
Kihei Akahi Market Update 2018
In comparison to the same time last year, the 2018 Kihei Akahi running sales volume is only off the pace by 1 transaction and about $200k in sales volume. The market got off to a slow start this year with no sales in January or March. April has by far been the most productive with 75% of sales, while February rounds out the sales with 1. Typically condos here don’t last long because of their location across from Kamaole Beach Park II and their ability to be rented out as short term rentals. 3 of the 4 units sold this year only needed 2 months to find a new buyer, while the remaining unit needed slightly over 6 months.
For Kihei Akahi’s world class location, the prices here are rather affordable which makes this market very competitive at times. Granted this was a studio unit, but it sold for well under $300k and still provides all of the benefits of Kihei Akahi living. It is more typical to sales in the $400-$600k range depending on the units location and level of remodel. The 3 other units sold this year were able to close for prices in the upper $400k range. All 4 of the sales represent the type of units available in the complex, studios, 1 bedroom, and 2 bedroom units.
With a limited amount of inventory available, buyers interested in Kihei Akahi will have to compete for the limited amount of units available. At this time, all price points are represented, however, some may be priced a little high for the product. As indicated from the 2018 sales data, if the unit is priced right, they will find buyers. There has only been 1 new listing in the last month.
Although the market may be calm now, in a matter of weeks the South Maui area will be flooded with visitors, some of which will be in the market to pick up some real estate.
If you do not see anything you like, sign up for our Kihei Akahi new listing email alerts. These alerts can be set for any budget and to any criteria. We would be happy to help you in your home search!
- Number of Kihei Akahi condos for sale: 4
- Average asking price: $524,475
- Highest priced listing: $649,000
- Lowest priced listing: $424,900
Contact a 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 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.