Newly Listed Resale Honua Kai Units For Sale
As the newest listing, Honua Kai NR722 is a remarkable 1 bedroom and 1 bathroom suite with a spacious lanai on the 7th floor of the Konea tower at Honua Kai. The Konea Tower is known for its quieter atmosphere and appeals largely to the adult demographic. Over the years, the seller has excellently maintained the unit to the highest quality.
A strong selling point of the unit is the 7th floor location thats allows you to enjoy the peacefulness not felt on lower floors. From the lanai, West Maui views abound with plenty of trade winds to keep the unit cool. The unit is in the current rental program, so there will be rental data to reference to help aid in a buying decision.
Listed at $975,000
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.
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.
Honua Kai Market Update 2019
With more than $21.2 million completed in running sales volume through 5.5 months, Honua Kai has been offloading units at a rapid pace with an average of more than 3 units sold per month. At least 1 unit has sold in every month, however, June completely dominated sales with 7 units sold while February was the only month to see 1 sale.
Honua Kai is a fit for a variety of buyer demographics. 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 picky buyers and those looking in the $3+ million range. More than 1/4 of the units sold so far were under $1 million, while only 2 units were above $2 million. The $1 million range has been the most productive with 10 units sold.
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: 17
- Average sold price: $1,252,411
- Median sold price: $1,118,000
- Highest priced condo sold: $2.39 million
- Lowest priced condo for sale: $774,000
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. Buyers are still able to get into the complex for well under $1 million, while the units closer to the ocean can be valued at just under $4 million.
The strong rental demand from visitors makes the cash flow aspect very appealing to buyers and can go a long way in helping to cover the monthly cost associated with ownership.
At this time, a little over 25% of the units for sale are priced under $1 million. The $1 and $2 million price points dominate the market with more than 60% of the inventory, while 2 listings above $3 million round out the Honua Kai Condos For Sale.
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: 23
- Average asking price: $1,809,000
- Highest priced condo for sale: $3.74 million
- Lowest priced condo for sale: $839,000
- Number of units in escrow: 7
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.
Anthony Sayles R(S)