Honua Kai – Kaanapali’s Luxury Resort

Initially offered in the 2006/2007 time frame, pre-construction sales at Honua Kai were outstanding. And even with the slowing economy and concerns about global financial troubles, Honua Kai sales continue to raise the bar in the Maui luxury real estate market. And as high season commences on Maui and droves of visitors flock to our shores, interest in popular vacation rental condominiums typically raises accordingly. As such, it’d be the perfect time to post a Honua Kai sales update, keeping potential buyers informed.

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Beachfront Condos at Mana Kai

Yesterday, while enjoying a day at the beach with the family on Keawakapu Beach, we noticed whales breaching in the distance. Given that we are heading into the time of the year when whale sightings are fairly common, it wasn’t surprising. However, the pod of dolphins outside of Mana Kai was a bit more startling. Within 25-40 yards from the beach, the dolphins hung around for quite some time, with some paddle boarders and swimmers joining in the fun. I wish I had a camera, but as I was planning on spending time in the water and building sand castles with my son, I did not have one.

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In today’s market, full of uncertainty about the national economy and lingering questions regarding a double dip, potential buyers wonder about the state of Maui real estate. As such, we’d like to share some information with buyers looking at luxury condos in Wailea. First, let’s take a look at Hoolei:

Hoolei Condos

Active – Currently there are 16 Hoolei condos for sale. Ranging in price from $2.095M for a Hibiscus (largest floor plan) to $3.4M for another Hibiscus this time on C building, which is arguably one of the best locations in the entire complex.

Sold – In the past 6 months, there were 7 sales, ranging from $2,547,500 to $3.125M. This proves to be a marked improvement over previous sales, view our previous Hoolei Sales Update for a better comparison.

And now, one of my favorite properties in Hawaii, Wailea Beach Villas:

Wailea Beach Villas

Active – There are 11 Wailea Beach Villas for sale, ranging from $2.325M for a penthouse unit up to $5.149M for a breathtaking unit in the much coveted building E.

Sold – The past 6 mothns saw 4 sales at Wailea Beach Villas, from $2.65M for a unit that was on the market for a mere 29 days to $4.45M for a Penthouse unit. With previous sales going into 8 figures, WBV has garnered a reputation as one of the most exclusive condominiums in the world.

Being informed is the critical in any market and we aim to empower our clients by providing relevant information on which to make the best decisions.  Should you wish additional information regarding a Wailea Condo or Home, feel free to contact me at Alex@MauiRealEstateSearch.com or direct at 808.385.5034.

Ke Alii Ocean Villas Sales Update

Many potential buyers are waiting for the bottom to fall out before purchasing a property.  And while it is still possible that values may decrease slightly in segments of the market, in many instances values have already shown a marked improvement, year over year. Such is the case in Ke Alii Ocean Villas, one of South Maui’s premier properties. In the first quarter of 2010, there were 8 sales with a median of $510K and average of $532. Compare that to the first quarter of 2011, whereas 10 transactions had a median of $628K and average of $634K. Is this indicative of a Maui market that has experienced a remarkable improvement? No, but it clearly shows that there are pockets where increased demand (due to quality of build, location, etc.) has resulted in increasing values. This is where having a qualified real estate professional can be the difference between making an informed decision and blindly shooting at the wall.

Ke Alii Ocean Villas has become one of my favorite properties in South Maui due to what it has to offer: location across the street from Kam I, superior craftsmanship, open floor plans, and world-class amenities. Residents enjoy exclusive access to a salt-water infinity pool, jacuzzi, barbecues, and fitness center. There are a total of 144 units across 7 acres of prime Maui real estate, of which 15 units are currently for sale. Should  you wish further information on this property or a specific unit, don’t hesitate to contact us.

Honua Kai has proven to be one of the most sought-after luxury properties in Hawaii, setting a remarkable pace of sales in the Maui condo market. Set amidst 40 prime acres of Maui real estate, Honua Kai is the perfect fusion of 5-star hotel amenities with beachfront property ownership.

As potential buyers seek relevant data on which to form purchasing decisions, below is information regarding sales activity at Honua Kai in the past six months:

* There have been a total of 32 sales, at a median price of $967,465, for an impressive sales total of $37.23M

*  One Studio unit sold, for a price of $635K.

*  Thirteen 1 bedroom units sold, ranging from $500K to $979K, median price of $643K.

*  Fourteen 2 bedroom units sold, ranging from $650K to $1.668M, with a median price of $1.212M.

*  Four 3 bedroom units have sold, ranging from $2.06M to $3.325M, with a median sales price of $2.825M.

Currently, there are 22 units for sale, from $539K for a luxury 1 bedroom unit to $3.69M for an impressive, top-of-the-line Ali 3 bedroom unit. In addition, there are 2 units offered for fractional ownership.

Contact us if you’d like more information regarding Honua Kai or other luxury Maui properties. Mariah is always available at Mariah@HawaiiLife.com.