Early Summer Closings at Kihei Bay Surf
Listed in early December of last year, Kihei Bay Surf B121 came to market as an intriguing listing with a highly upgraded 445 sqft studio layout. The unit was smartly laid and designed efficiently to take advantage of every square foot it has; built to maximize the flow and living space, the living room and sleeping area have distinct feels even though there is no bedroom. The dark wood flooring neatly contrasts the lighter walls of the unit, so the wood adds a touch elegance that is hard to find in other studios. Maintenance fees of an even $500/month include electricity which is nice considering there is A/C in the unit.
While the unit may be small, the covered lanai off the back of the unit more than makes up for it and is a nice addition to the studio and helps add another dimension of outdoor living to the unit. Only a few minutes to the beach, Kihei Bay surf offers itself as a great vacation rental unit and certainly goes a long way when used as a short term rental unit. This particular unit is rented out on VRBO, so the unit does came with proven rental history.
The sellers held firm to their original list price of $265k. After close to 4 months on the market, the sellers accepted an offer of $248,000.
Another first floor unit, Kihei Bay Surf 205 is another studio unit that sold a few weeks ago and is a nice contrast to the unit above. While this unit was also renovated a touch, it goes to show buyers the variety of units that can exist in the complex. This is a 2nd floor unit, so there is no additional outdoor space and lives as a true studio. While the kitchen may be tight, it is laid out neatly to be able to do everything you need to do. Some features in the unit include: granite counter tops in the kitchen, ceramic back splash, hardwood cabinets with lots of storage space, laminate flooring, ceiling fan, air conditioning and high ceilings.
Originally listed in October of 2017, the sellers held the list price throughout its entire time on the market. The unit eventually sold for full asking at $249,000.
Kihei Bay Surf Market Update 2018
The Kihei Bay Surf market has been off to a respectable start this year with 6 units sold where at least 1 unit has been sold in each month. Because of the very attractive prices, units don’t last long; only 1 of the units needed more than 6 months to sell, while 50% of the units sold in 2018 only needed less than 2 months. All 6 of the units sold were studio units because every single unit here is a studio unit, some may just be configured differently than others.
As far sold prices go, everything has been in a $30k price range of one another. Some units have been beautifully renovated, to the point of possibly being built over built for the complex, but are still none the less top of the line. Other units are a neat blend of upgraded and original finishes, while some are totally original.
- Number of Kihei Bay Surf condos for sale: 5
- Average asking price: $255,666
- Highest priced unit sold: $270,000
- Lowest priced condo sold: $242,000
- Number of units in escrow: 1
At of 5/8/18, there is no inventory in the Kihei Bay Surf market.
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- Number of active Kihei condos for sale: 0 (as of 5/6/18)
- Number of Kihei condos for sale: 139
- Average asking price: $683,723
- Median list price: $549,000 (half of the listings are priced the mid $500k range or less)
- Highest priced unit sold: $6,495,000
- Lowest priced condo sold: $279,000
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Please interview 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.