This week Honua Kai Resort in Ka’anapali just announced big price adjustments on their remaining inventory of condos for sale. Honua Kai is the first new beachfront fee simple whole ownership development in the Ka’anapali area for over 20 years. Located along North or Airport beach, It was well received by buyers with the initial pre-construction offerings selling out within hours. The high volume of closes at the complex have helped to buoy condo sales figures over the last couple of years. This is a phenomenon that we dubbed the Honua Kai effect. It is easy to see why buyers have gravitated toward Honua Kai. Amenities include three pools, a fitness center, kids camps, concierge services, a well regarded restaurant in Duke’s Maui and a great stretch of beach along the beautiful waters of the Pacific.
A number of the remaining condos for sale are now discounted well below initial developer pricing. One and two bedroom units in the Hokulani tower appear to be some of the better values with pricing as much as 40% below roll out pricing. There are other floor plans where prices are actually a little higher than the original roll out prices. While the developer does not go into the specific reasons behind the adjustments, this appears to be a classic case of supply and demand. Units that have and continue to garner the most interest have been adjusted upwards. Units where sales have lagged have been adjusted down. You can check out the Honua Kai Updated Price List for specific prices and floor plans available. These new developer offerings at Honua Kai are offered through Playground Destination Property, Inc. The Maui Real Estate Team may represent you as buyer’s agents. Contact us for questions about Honua Kai or for assistance with representation. We look forward to being of service.
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