Honua Kai units come to market in a flurry, some gone before most of the market even gets a chance to view the unit. Honua Kai NR 214 is a large one bedroom unit with elevated views from the 2nd floor. The outdoor lanai perfectly compliments the indoor living room to create a neat blend of indoor and outdoor living. Hardwood floors throughout make for easy clean up and maintenace.
As a vacation rental unit, the short term rental income can go a long way in helping cover monthly expense. Upgrades to the unit include: new lanai furniture, king mattress and box spring, washer & dryer, and tile flooring though out the kitchen living room and bedroom.
The unit is priced at $912,000.
Plenty of excitement has been generated 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. At this point, all of the units have been sold or are in escrow. I wouldn’t be surprised if some come up for resale within the next year or so.
Honua Kai Market Update 2020
With more than $37 million completed in running sales volume through 3 months, Honua Kai has been offloading units at a rapid pace. A large part of that production can be attributed to the new construction condos sold. However, 11 resales is extremely impressive for the market.
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.
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: 21 (10 new developer offerings)
- Average sold price: $1,765,202
- Median sold price: $1,890,000
- Highest priced condo sold: $3,025,000
- Lowest priced condo for sale: $805,000
Honua Kai Market Update 2019
- Number of Honua Kai condos sold: 57 (23 new developer offerings)
- Average sold price: $1,610,692
- Median sold price: $1.7 million
- Highest priced condo sold: $3.3 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.
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: 19
- Average asking price: $1,685,578
- Highest priced condo for sale: $3.64 million
- Lowest priced condo for sale: $899,000
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)