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Maui Real Estate Resources

The Maui Real Estate Blog

Maui Banyan Sees First Listing of 2019

Ground Floor Reno: Maui Banyan G110

Brought to market in early February, Maui Banyan G110 is an upgraded unit with a flex use space that is highly desirable to buyers. Technically a two bedroom and two bath floor plan, the unit can be locked off to create two separate rental units that will come in handy when the unit is not in use. Renovated in the last few years, upgrades include: large tile floors, beautiful granite counter tops, cabinets, and stainless steel appliances.

Last sold more than 15 years, the sellers have excellently maintained the units over the years and have given it a facelift with an upscale renovation. Located on the first floor, there is a 144 sqft lanai just off of the living room which creates one large open floor plan from kitchen to lanai. Maintenance fees are rather modest and include: WiFi, Basic Cable, Building Insurance, Water, Trash, and Sewer.

Listed at $640,000 

Maui Banyan Market Update 2019

With 2 units sold through almost 2 months, Maui Banyan has seen hotter markets in years past; however, Kihei condo markets are known to pick at a moments notice with a rapid amount of sales completing in a short time frame.

To get a better idea of the market, check out a recap of 2018 below.

  • Number of Maui Banyan condos sold: 2
  • Average sold price: $497,5000
  • Highest priced listing: $525,000
  • Lowest priced condo for sale: $470,000
  • Number of units in escrow: 0

Maui Banyan Market Update 2018

The Maui Banyan market got off to a strong start in 2018 with 3 closings in 3 weesk early on in the year. The end of spring saw the market pick back up with 4 sales in the months of April and May. The summer months only saw 2 sales with 1 closing in September. All 12 units sold in 2018 were able to find a buyer within less than a year, while on average it took close to 3.5 months to close.

The lowest priced unit sold in the upper $300k price range where it was a more or less an original unit that could benefit from some TLC. The highest priced unit sold in the mid 600’s and was a full blown remodel on the 4th floor of the Q building where the sweeping views are undeniable.

Sale prices favored the $400k and $500k with 4 and 6 units sold in each price point. The $500k was by far the most dominant in production and is more or less the sweet spot of the community. Only 1 unit sold in the $300k price point and it was an absolute steal for being able to buy into the Maui Banyan market.

For a complete break down of sales data, check out our Maui Banyan sold data.

  • Number of Maui Banyan condos sold: 12
  • Average sold price: $509,583
  • Highest priced listing: $649,000
  • Lowest priced condo for sale: $375,000
  • Number of units in escrow: 0

Maui Banyan Condos For Sale

At this time, interested buyers in Maui Banyan have a handful of units to select from.  Once the busy season rolls around, buyers will have to compete with more demand in the market and be ready to write an offer.

The best way to stay in touch with the market is by subscribing to our Maui Banyan new listing alerts.

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See a complete list of Maui Banyan Condos For Sale

Contact a South Maui Real Estate and Lifestyle Specialist

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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

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