Brought to market in early July of this year, Honua Kai 244 is a lovely 2nd floor villa with an open concept layout that enhances its 695 sqft of interior space. The living room has a slightly vaulted ceiling which helps with enhancing the open layout. Floor to ceiling windows at the back of the unit and just off of the main living area offer plenty of natural light and breezy air flow when opened. Located on the inner courtyard of the Hoku Lani Tower, this complex will be the furthest away from the upcoming Luana Garden Villas at Honua Kai.
With 1 bedroom and 1 bathroom, the unit is large enough to comfortably accommodate 4 people, possible up to 6. The outdoor lanai is perfect for enjoying the West Maui trade winds and taking advantage of all the resort has to offer. The Hoku Lani tower is also the closest to the beach, but slightly further from the community pools.
Brought to market in the upper $900k range, we were able to negotiate $30k off asking price and close for $930,000.
Larger one bedroom partial ocean view home is available for resale at Honua Kai. H244 enjoys both partial ocean and mountain views from its lanai. Easy access to the elevator. Equipped with Bosch kitchen package, cooking meals is a treat.
This home sleeps 4 comfortably and comes turnkey for the new owner. This home participates in a very active rental program. This is a “must consider” for every buyer. Photos to be posted on 7/14/18.
Much excitement has been growing around Honua Kai’s 3rd phase, Luana Gardens at Honua Kai. These units offer a nice contrast to the current units because they are built more like town homes and will offer more of a single family home feel.
It was announced earlier this year, the developers will go ahead with a 3rd phase at Honua Kai, Luana Garden Villas. Planned to be built in the large grassy area behind the two existing towers, the new units will be offered in a style other than a tower. The 72 villas are intended to be built in 18 separate buildings with 4 units in each.
Rendering showing the latest edition to Honua Kai – Luana Garden Villas
Honua Kai Market Update 2018
With more than $50+ million done in running sales volume through 10.5 months, Honua Kai has been on a roll with at least 2 units sold each month. Certain months in particular stand out with February, March, April, May, July, and August making up more than 50% of the sales, however, May stands head and shoulders above the rest with more than 10% of all units sold in 2018. Honua Kai units can move quickly if priced accordingly, a little over 20 of the units sold only needed 3 months to find a new buyer.
Honua Kai is a fit for a lot of buyers. On one hand, it can meet and exceed the expectations of buyers looking under $1 million. While on the other, it can please the most pick buyers and those looking the $3+ million range. The wide discrepancy in sold prices come down ocean view, unit size, floor level, and rental history. There have been 13 sales priced under $1 million, but only 1 has sold for more than $3 million. The sweet spot in the community is certainly the $1-$2 million price point with 14 sales falling that price range. In terms of price/sqft., buyers should expect to pay anywhere from $1000-$2000/sqft.
To get a better idea of the market, check out our Honua Kai sold data over the last 10 years.
- Number of Honua Kai condos sold: 34
- Average sold price: $1,464,596
- Median sold price: $1,120,000
- Highest priced condo sold: $3.9 million
- Lowest priced condo for sale: $695,000
With a ton of inventory to choose from, buyers will have look to capitalize on the variety of options at their finger tips. Once known for having an attractive barrier to entry, Honua Kai has seen its stock rise quickly over the last few years.
The strong rental demand from visitors makes the cash flow aspect very appealing to buyers. More than 70% of the units listed are priced over $1 million, while only 4 are listed under $1 million.
Buyers should also keep an eye out for more info on Luana Gardens at Honua Kai or reach out to us for more information.
If none of the units catch your eye, stay up to date with our Honua Kai new listing email alert.
- Honua Kai condos for sale: 26
- Average asking price: $1,790,457
- Highest priced condo for sale: $3.85 million
- Lowest priced condo for sale: $750,000
- Number of units in escrow: 10
Contact a Maui Real Estate and Lifestyle Specialist
Please consider 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.Aloha,