Tag: Kihei
It’s that time again. This is the twenty-first edition of the Maui Market Musings. Our weekly, biweekly, monthly update on the Maui Real Estate market. The latest edition looks at active and pending inventory, price reductions and demand for new listings. There are plenty of words down below, so I will spare you from any more up here…
End of November Maui Home Inventory
| 9/30/22 | 10/31/22 | 11/30/22 | ||||
| Active | Pending | Active | Pending | Active | Pending | |
| <$750,000 | 7 | 14 | 9 | 15 | 5 (-4) | 14 (-1) |
| $750,000-$999,999 | 21 | 46 | 29 | 29 | 31 (+2) | 25 (-4) |
| $1,000,000-$1,499,999 | 45 | 33 | 64 | 28 | 61 (-3) | 28 |
| $1,500,000-$1,999,999 | 44 | 17 | 41 | 13 | 28 (-13) | 17 (+4) |
| $2,000,000-$2,999,999 | 33 | 12 | 35 | 10 | 34 (-1) | 11 (+1) |
| $3,000,000-$4,999,999 | 35 | 11 | 32 | 7 | 32 | 7 |
| $5,000,000-$9,999,999 | 27 | 6 | 26 | 5 | 23 (-3) | 9 (+4) |
| $10,000,000-$19,999,999 | 11 | 0 | 9 | 0 | 14 (+5) | 0 |
| $20,000,000+ | 2 | 1 | 3 | 1 | 5 (+2) | 1 |
| Total | 225 | 140 | 248 | 108 | 233 (-15) | 112(+4) |
| 9/30/22 | 10/31/22 | 11/30/22 | ||||
| Active | Pending | Active | Pending | Active | Pending | |
| Haiku | 24 | 7 | 28 | 9 | 29 (+1) | 10 (+1) |
| Hana | 9 | 1 | 10 | 0 | 10 | 0 |
| Ka’anapali | 10 | 3 | 7 | 2 | 9 (+2) | 2 |
| Kahului | 7 | 26 | 16 | 16 | 16 | 13 (-3) |
| Kapalua | 4 | 0 | 6 | 0 | 5 (+1) | 3 (+3) |
| Kihei | 35 | 16 | 40 | 11 | 31 (-9) | 15 (+4) |
| Kula | 22 | 11 | 20 | 11 | 22 (+2) | 12 (+1) |
| Lahaina | 21 | 10 | 22 | 13 | 15 (-7) | 13 |
| Makawao | 13 | 11 | 13 | 9 | 11 (-2) | 7 (-2) |
| Napili/Kahana/Hono… | 9 | 7 | 11 | 6 | 9 (-2) | 3 (-3) |
| Puklanai | 6 | 7 | 8 | 3 | 10 (+2) | 3 |
| Sprecks/Paia | 10 | 4 | 8 | 2 | 7 (-1) | 3 (+1) |
| Wailea | 10 | 8 | 11 | 4 | 16 (+5) | 4 |
| Wailuku | 36 | 26 | 40 | 21 | 32 (-8) | 19 (-2) |
Notable Numbers from the End of November Maui Home Inventory
The information above is provided with the usual framework. The home inventory data by price point includes all of the island of Maui, but excludes the islands of Molokai and Lanai. The district information is limited to the districts and communities with the most activity.
- After an increase in inventory in October, Maui home inventories decreased again in November. Active listings dropped 6.1%.
- Looking at the the active inventory by price point shows a mix of trajectories. While most price ranges decreased, the continued increase between $750,000 and $999,999 is notable. This is a part of the market with more financed buyers. Those buyers are feeling the affordability impact of higher rates. The $10,000,000 plus price range is not known for financed buyers. That said, it also saw an increase.
- Pending sales actually increased between the end of October and the end of November. While the increase was a modest 3.7%, the increase in activity comes as somewhat of a surprise considering both rates and the more significant decrease between late September and late October.
- Broken down by price point, the picture is more mixed. Again, fewer properties went under contract in that $750,000-$999,999 price range. Pending sales increased in the $1,500,000 to $3,000,000 range. The biggest percentage increase in pending sales was in the $5,000,000 to $9,999,999 price range.
- At a community level, inventory trends were all over the place. Kihei, Lahaina and Wailuku all experienced notable decreases in inventory. Most other markets experienced modest changes with increases or decreases of a couple of homes. The Wailea active inventory increased the most month to month.
- There was also a lot of variability in the end of month change in pending sales by community. Pending sales increased in five communities, remained unchanged in five districts, and decreased in four. Kapalua and Kihei saw the biggest increase in pendings. Kahului and the Napili, Kahana, Honokowai area decreased the most.
End of November Maui Condo Inventory
| 9/30/22 | 10/31/22 | 11/30/22 | ||||
| Active | Pending | Active | Pending | Active | Pending | |
| <$250,000 | 1 | 3 | 2 | 4 | 1 (-1) | 4 |
| $250,000-$499,999 | 11 | 16 | 19 | 12 | 19 | 14 (+2) |
| $500,000-$749,999 | 28 | 40 | 32 | 35 | 43 (+11) | 33 (-2) |
| $750,000-$999,999 | 33 | 33 | 27 | 27 | 28 (+1) | 29 (+2) |
| $1,000,000-$1,499,999 | 19 | 36 | 21 | 30 | 31 (+10) | 24 (-6) |
| $1,500,000-$1,999,000 | 18 | 34 | 14 | 33 | 21 (+7) | 28 (-5) |
| $2,000,000-$2,999,999 | 14 | 43 | 15 | 40 | 18 (+3) | 39 (-1) |
| $3,000,000-$5,000,000 | 10 | 17 | 10 | 17 | 11 (+1) | 17 |
| $5,000,000-$9,999,999 | 7 | 0 | 11 | 1 | 12 (+1) | 2 (+1) |
| $10,000,000+ | 4 | 0 | 3 | 1 | 3 | 0 |
| Total | 145 | 222 | 154 | 200 | 187 (+33) | 190 (-10) |
| 9/30/22 | 10/31/22 | 11/30/22 | ||||
| Active | Pending | Active | Pending | Active | Pending | |
| Ka’anapali | 17 | 14 | 18 | 9 | 25 (+7) | 4 (-5) |
| Kahului | 3 | 4 | 5 | 5 | 5 | 5 |
| Kapalua | 10 | 4 | 12 | 4 | 14 (+2) | 2 (-2) |
| Kihei | 48 | 61 | 43 | 60 | 53 (+10) | 51 (-9) |
| Lahania | 5 | 7 | 8 | 4 | 14 (+6) | 8 (+4) |
| Ma’alaea | 4 | 4 | 3 | 6 | 4 (+1) | 8 (+2) |
| Napili/Kahana/Hono… | 29 | 30 | 33 | 17 | 39 (+6) | 19 (+2) |
| Wailea | 19 | 86 | 19 | 85 | 23 (+4) | 85 |
| Wailuku | 8 | 12 | 11 | 10 | 8 (-3) | 8 (-2) |
Notable Numbers from the End of November Maui Condo Inventory
Again, the tables above come with the usual framework for our end of month inventory. The table by price point includes all condos on Maui, but it does not include condos on the islands of Molokai or Lanai. The table with districts is limited to the communities with the most activity.
Pending sales at La’i Loa at Wailea Hills skew the data in Wailea and the $1,500,000-$5,000,000 price ranges. There are 75 pending sales in that development based on contracts penned in 2020 and the first quarter of 2021. Pending sales in La’i Loa won’t start to close until sometime in 2023. Paradise Ridge Estates in Kihei also skews the data albeit to a lesser extent. There are 18 pending sales with that development based on contracts penned between 2018 and the first quarter of 2022. Overall, 49.73% of the pending condo inventory is in La’i Loa or Paradise Ridge Estates.
- End of month condo inventory increased for the second straight month. Active inventory grew by 21.42%.
- Seven out of ten price ranges increased inventory between the end of October and the end of November. Two price ranges remained constant and only condos priced below $250,000 decreased in active inventory.
- The largest increases in active inventory occurred between $500,000-$749,999 and $1,000,000 to $1,999,999.
- Pending sales dipped 5% between the end of October and the end of November. Pendings in four price points decreased, increased in three and remained unchanged in three.
- The biggest decrease in pending sales occurred between $1,000,000 and $1,999,999.
- Active inventory increased in all but two communities. Only Wailuku saw a decrease while Kahului inventory remained unchanged. Kihei increased the most by the number of units and Lahaina increased the most by percentage.
- Pending sales increased the most in Lahaina. Kihei pending sales decreased the most.
Pending Sales vs. New Listings
With the shift in active and pending sales, it is worth taking a look at what’s driving inventory levels. How did November stack up against other years for new listings and new pending sales?
| 11/2022 | 11/2021 | 11/2019 | 11/2018 | 11/2017 | |
| Homes | 79 | 114 | 125 | 147 | 140 |
| Condos | 109 | 187 | 208 | 153 | 193 |
Looking at new inventory in November, you can see that we are well below last year. For homes, there were just over 30% fewer listings than last November. More notably, last month’s new inventory was anywhere between 39% and 46% less than what came to market in November of 2017-2019. The decrease in new condo inventory entering the market in November is even more pronounced. There were roughly 42% less condo listings last month compared to November 2021. New inventory came in anywhere between 53% and 56% lower than Novembers 2017 and 2019. The one outlier being November of 2018. Even that year had 40% more new listings than this year.
| 11/2022 | 11/2021 | 11/2019 | 11/2018 | 11/2017 | |
| Homes | 63 | 95 | 90 | 80 | 83 |
| Condos | 69 | 180 | 147 | 110 | 125 |
While inventory remains low, the number of properties going under contract decreased significantly from last November and the Pre-Covid Novembers Prior. New pending home sales this November are almost 34% lower than last November. They are down between 21 and 30% compared to the Novembers between 2017 and 2019. Again, the difference in the condo market is a little more dramatic. New Pending sales from November 22 are almost 62% less than November of 21. This November’s new pending sales are between 37% and 53% lower than November 2017-2019.
Looking at the numbers above, inventory clearly remains low. Pending sales are also down quite a bit. While some of the decrease in pending sales may be attributed to the limited inventory, decreased demand is the bigger driver for the decrease in activity. The weight of decreased affordability impacts a number of buyers.
How Quickly Are Things Going Under Contract?
Another metric we use to track the market is the speed at which properties are going under contract. Specifically, what percentage of new listings are going under contract in 10 days or less. We started tracking that number in mid February during the peak of last winter’s frenzy. At the time, 56% of all new listings went under contract in ten days or less. Prior to this post, the last time I checked this metric was for the period between October 11th and October 18th. At that time, 25.58% of properties listed during that span went under contract in ten days or less. Between November 21st and November 28th, 15.9% of all properties went into escrow within that ten day span.
Of the single family homes that came to market between November 21st and November 28th, 13.64% went under contract in ten days or less. For context, 36% of homes listed between November 21st and November 28th, 2021 went under contract in ten days or less. Of the homes listed between November 21 and November 28th, 2018, only 4.17% of the properties went under contract in ten days or less.
Of the condos listed between November 21st and November 28th, 18.18% sold in 10 days or less. Last year, 43.24% of condos listed in that period sold for 10 days or less. Pre-covid, 29.26% of condos listed between November 21st and November 28th sold in ten days or less.
Overall, this is the most tepid response new listings received since we started tracking this data point. While the slower market activity could be a function of the Thanksgiving Holiday, the 2021 and 2019 numbers both remained busy despite Thanksgiving.
Price Reductions
A lot of sellers don’t seem to be fretting the smaller numbers of buyers on the market. That is evident in the recent numbers on price reductions in the active inventory. On November 30th, 37.02% of all active home listings reduced their price one or more times. That is down from 39.92% on October 31st and 42.41% on September 29th. While the percentage of homes with price reductions started to tick down nationally in the last couple of weeks of November, the percentage of price reductions started declining in early September on Maui.
On November 30th, 23.53% of all active condo listings reduced their price at least once since being listed. That number was 29.41% on October 31st. It was 25% on September 29th. It’s interesting to see that price reductions are down considering the decreased condo sales activity over the last month. Low inventory and the start of peak winter home buying season at the end of the month is emboldening sellers.
Quick Thoughts on the State of the market.
Weird. My one word summary for the current Maui Real Estate market. Some parts of the market continue to push to all time record highs, other parts are stalled, while other segments of the market are seeing modest price declines. Supply (or lack thereof) and affordability (particularly when you take into account borrowing costs) push and pull the market in different trajectories.
We’ve already looked at the fluctuations in active listings by price point and community in this post. It might be worth zooming out and looking at those same numbers island wide since late Spring.
While active listings fluctuated over the last five months, the end of November supply for homes and condos is lower than it was at the end of June. Demand, reflected in pending listings, fell steadily downward over that time. While the data in this post shows that demand is far less than a normal market, we still have constrained supply. Demand fell enough to cool market conditions, but supply remains limited enough to prevent across the board decreases in value. Variability in market conditions on island ultimately comes down to the balance between supply and demand at the community level and at different price points. The price points that are decreasing in value appear to be those that have more financed buyers. The places that continue to see record highs have extremely limited inventory and a high percentage of cash buyers.
A Little Maui Beauty To Brighten Your Day
A beautiful sunrise taken from the beach in Wailea.
Contact The Maui Real Estate Team
Navigating the weird market conditions demands quality representation. Market strategies for buyers and sellers vary by price and location. Contact The Maui Real Estate Team to discuss market conditions specific to your budget and areas of interest. Our savvy and experienced agents look forward to being of assistance.
Rising gas prices. A more chaotic climate. Improved health and wellness. There are a lot of reasons why driving less has more appeal these days. Maui is a pretty rural place. As a result, it is not exactly an easy place to live car free. That said, there are parts of the island where there are more conveniences and amenities accessible by foot or by bike. We recently created a handful of Walkable community pages on MauiRealEstate.com that highlight areas within a higher concentration of amenities within walking distance. This is a quick overview of those new pages on the site and a few communities that are worth an honorable mention.
Featured Walkable Areas of Maui
- Walkable Paia : For a small town, Paia has a lot going on. It has restaurants, a great grocery store, a Bank of Hawaii Branch, a yoga studio, massage studios, coffee shops, a post office, the beach and more all in and around town. If you live in the neighborhoods to the East and North of town, almost all of this is accessible via your own two feet. As an added bonus, the North Shore bike path runs to the West of town, through Spreckelsville and into Kahului. Paia is the one area of the island where you really could go for longer stretches without driving.
- Walkable Wailuku : Downtown Wailuku is the seat of Maui County Government. It is also home to federal and state agencies, medical facilities, law offices and other professional services. The homes and condos in the downtown area give options to those who work downtown that want to avoid commuting by car. Add in restaurants, the Iao Theater, shops, a library and other amenities and there are plenty of things accessible by foot. While you will still find yourself driving to some amenities, your odometer is less likely to get a workout.
- Walkable Makawao : Upcountry Maui may not be the first place you think of when it comes to walkability. That said, downtown Makawao is another small town with a lot going on. There are restaurants, a public library, Eddie Tam Park, a post office, shops, coffee, yoga and more. There are quite a few neighborhoods within walking distance of these attractions. Again, this is a place where it may be difficult to completely avoid car dependence, but you could get away with driving less when you live close to Makawao.
- Walkable Lahaina : Front Street is a renowned tourist destination. That said, residents living in the neighborhoods close to Front Street are located close to restaurants, shops, grocery stores, the beach, surfing and more. Put on your walking shoes or grab your cruiser bike. This is an area where you can leave your car parked in the driveway more often than not.
Honorable Mention
The Kulamalu area of Pukalani wouldn’t have received a mention 10 years ago. While there was a Long’s Drugs and a Fitness Center, this was a convenient but car dependent community. Then came the Saturday’s Farmer’s Market, followed by Food Trucks. A new brewery and a great pizza place in the last year are two great new additions. The Cottages at Kulamalu and Kulamalu Hilltop are now two neighborhoods where owners now have some great amenities within walking distance.
There are parts of Kihei where you may not need a car as much depending on your lifestyle. Areas of South Kihei and Central Kihei offer restaurants, shops, grocery stores and beaches within walking distance.
Contact The Maui Real Estate Team
Contact The Maui Real Estate Team if you are looking for a home that decreases your car dependence. We would welcome the chance to help you find a home or condo that might help change your lifestyle.
This week’s market musings takes a look at one sign of resilience evident in the market and the latest Redfin report on the second home market. Without belaboring the intro, here are the latest market musings.
Anecdotal Signs of Market Resilience
Entry level condos in Kihei experienced some of the steepest declines during the last real estate crash. I remember the turning point for that market pretty well. During the Summer and fall of 2005, places like Southpointe, Kihei Villages and Keonekai Villages experienced rapid price increases. Condos in these complexes jumped in value 25% or more in a span of about 6 months. The rise in prices occurred during a period of low rates (for the time) with rates forecast to increase. Inventory during this period was low.
A pretty drastic shift occurred in the market in early 2006. A number of the buyers who purchased the condos in the second half of 2005 were pure speculators. They planned to make some very rudimentary improvements prior to flipping the condos. In some cases, they were just naked flips where they purchased the condo and flipped a few months later with no improvements made. By early 2006, the inventory ballooned from a handful of listings in entry level complexes to as many as 25 units in a single development. A rate increase between .5% and .6% caused demand to cool. Sellers who didn’t have the reserves had to adjust their prices. Thus started a precipitous decline that grew worse as a number of sellers found themselves underwater.
The contrast with present conditions is pretty significant. Recent mortgage rate increases are far more drastic. We are looking at an increase of 1.5% in the span of less than 6 months. That said, inventory levels remain low. At the time of this post, there are only 4 active listings in the “entry level” condo complexes in Kihei. Buyer demand continues for the limited inventory. Four non-vacation rental condos in Kihei went under contract within the last few weeks.
While market conditions may continue to shift depending on further rate increases and/or the overall economy, this segment of the market isn’t the house of cards that it was in the mid 2000s. There are fewer speculators and the financial position and loan terms of borrowers are stronger. The market conditions that caused the calamitous collapse in values just aren’t present currently. That’s why we continue to see buyers despite the significant rate increases and much higher prices.
The Second Home Market Slows Nationally
Recent data presented by Redfin indicates that second home demand hit its lowest point since May of 2020. While it is still up from pre-pandemic levels, the decrease in demand is notable. Redfin cites affordability as one factor in the decreased demand. Some of that stems from price increases and some from rate increases. The Federal Housing Financing Agency also announced an increase on upfront fees on second homes starting on April 1. The fee increase is between 1.125 percent and 3.875 percent, tiered by loan-to-value ratio. That’s a pretty hefty number for those borrowing substantial sums.
Will we start to see this reflected in the Maui market? I haven’t seen signs of a clear decrease in the second home market on Maui. Demand appears to remain strong with inventory limited. We also have a lot of cash in the market. Of the vacation rental condos that sold over the last month, 44% were cash transactions. That might be a low number as it doesn’t include 1031 exchange purchases using cash. The lack of inventory may also make it harder to detect changes in buyer demand. If we start to see anything that shows Maui reflecting national trends, we will report it in the Musings
A Little Bit of Maui Beauty to Brighten Your Day
A quick clip from Maui’s North Shore. If you are on twitter, @maui is worth a follow for more local eye candy, travel tips to the island and more.
Contact The Maui Real Estate Team
If you are reading some mixed messages in recent musings, that’s because information on market conditions remains pretty mixed. On the ground, buyers are still facing bidding wars and properties are still selling for premiums. That said, there are more headwinds brewing with the rise in rates. Current market conditions call for quality representation. Contact The Maui Real Estate Team if you are considering entering the Maui market as a buyer or seller.
I challenge you to find a segment of the Maui Real Estate market that experienced a more drastic reversal of fortune over the last 12 months than vacation rental condos. With tourism shut down starting in April of 2020, demand for vacation rental condos shrank rapidly over the spring and summer. With no rental revenue to offset costs and economic forecasts calling for a slow rebound in tourism, many owners opted to sell. Inventory rose steadily through spring, summer and early fall. On October 15, 2020, the state rescinded the mandatory quarantine rules for incoming travelers. Residents and vacationers who tested negative could avoid the Covid vaccine. This marked the first step in a gradual shift in the market.
For the first couple of months after tourism reopened, visitor numbers were a fraction of what the island experienced pre-Covid. That said, buyer demand ticked upwards and supply slowly ticked downwards as soon as visitors returned. With the start of the new year, a significant shift occurred. Visitor numbers recovered far faster than anticipated. Apparently, many of the visitors were vacation rental condo buyers.
Soaring Sales and Shrinking Inventory
They say a picture is worth a thousand words. These two pictures tell the tale of the Maui Vacation Rental condo market pretty succinctly. Buyers returned to the market in big numbers in early 2021. With a pretty healthy inventory of condos to choose from, the volume of transactions grew quickly. Buyer activity reached its peak in March with 290 condos under contract. Volume started to dip in April. While there was a minor uptick in May, the number of properties under contract continues to fall.
The healthy inventory of condos in January and February quickly gave way to scarcity. A ravenous buyer pool quickly chewed through much of the inventory. Anecdotally, I started to get a lot of e-mails from other Realtors beating the bushes searching for unlisted properties in late March and April. The inventory continued to fall through late Spring and the summer. The contrast between this summer and last summer is pretty stark. While many popular condo complexes had double digit inventory in the summer of 2020, most currently have a handful of active listings at most. The overall condo inventory is less than 25% of last summer.
Shrinking inventory is in turn impacting the volume of properties under contract. There are far less active condos for sale now than there were that went under contract in March back in the peak of the market. It is difficult to compare demand now compared to demand back in the late winter and early spring. Anecdotally, it feels like demand is down some. That said, with such limited supply market dynamics feel similar to the spring when demand and supply were both higher. Plain and simple, it is a strong sellers market.
Strong Demand Plus Declining Inventory Equals Rising Prices
With strong demand and dwindling supply, it’s not surprising to see the trajectory of prices. While median prices on island tend to fluctuate based in part on the composition of condos sold within a given month, there are clear signs of price increases. The median price of the vacation rental condos sold in August of 2020 was $600,000. The median price of vacation rental condos sold in August of 2021 is $747,500.
Other Notable Numbers From the 2021 Maui Vacation Rental Condo Market
- There were 880 vacation rental condos sold on Maui between January 1, 2021 and August 25th, 2021. That is a 221% increase in activity compared to the same period of 2020.
- The average price of condos sold between January 1, 2021 and August 25th is $1,079,000 and the median price is $715,000.
- The lowest priced vacation rental condo to close sold for $110,000. That was a leasehold, oceanfront, one bedroom at Maui Sands.
- The highest priced transaction for the year to date closed for $14,250,000. This was for a 3 bedroom, 3.5 bathroom, direct beachfront unit at Wailea Beach Villas.
- There was a lot of activity in the higher price ranges of the vacation rental condo market. The Wailea Beach Villas sale was one of two transactions that closed over $10,000,000. It was one of nineteen sales over $5,000,000 and one of ninety-two sales over $2,000,000.
- Kihei was the busiest market with 278 closes.
- Kapalua saw the biggest increase in activity of any area of the island compared to the same period of 2020. The 80 closes as of August 25th are a 615% increase in activity over the same period of 2020.
- Kamaole Sands was the busiest individual condo development for sales. There were 33 condos sold for the year as of August 25th. Honua Kai was the next busiest with 31 condos sold.
Market Outlook for Buyers
As mentioned above, scarcity is a challenge for buyers in this market. The summer did not bring any inventory relief. July and August had the fewest new condo listings since April of 2020. It will be interesting to see if we see more inventory in the fall. Mainland markets are seeing a slow increase in inventory. Is our lack of inventory a reflection of different dynamics in play on Maui, or are we just seeing some lag before we catch up to trends on the mainland?
Might we also see a decrease in demand? A report from Redfin in June indicated demand for second and vacation homes started to shrink in the spring. They cited a variety of factors including decreased affordability and tighter underwriting standards. They also indicated that many that intended to buy a second home already made their purchase.
I can see where affordability could start to impact demand on Maui. Price increases over the year are significant. Those looking for strong cap rates are likely to be discouraged. While rents are up some this year thanks to strong demand, they aren’t quite keeping pace with appreciation. Buyers more focused on cap rate rather than personal use of the condos will be less likely to buy in the current market.
Last but not least, the adverse impact of Covid is not over. Cases are up sharply in Hawaii and hospitals are strained. Some tourists are heeding the governor’s calls to delay visits due to the recent surge. Hotels are reporting cancellations over the next two months. Will that dampen demand at all?
Market Outlook for Sellers
The market outlook for sellers is pretty clear. There is still good to strong demand and inventory is limited. Prices are up. If you aren’t using your condo or you are just looking to cash out, this is a good time to sell. It is worth noting that while the market is supporting strong appreciation, it is still quite possible to overprice your property. Approximately 53% of the current active listings are on the market for over 30 days. If you want to sell quickly, it still makes sense to look at recent comparable sales when formulating a pricing strategy.
Contact The Maui Real Estate Team
Contact The Maui Real Estate Team if you are interested in buying or selling a vacation rental condo on Maui. For buyers, we would be happy to review current inventory options in your price range and keep our ears open for unlisted properties. For sellers, we would welcome the opportunity to give you a free broker’s price opinion on your condo. We look forward to being of assistance.
Quality, space and convenience distinguish our newest condo listing in Kihei. Hale Kanani 1-107 is a front row, ground floor unit across the street from Cove Park. The three bedroom, two bath end unit has extra windows to bring in additional light. It is also the largest three bedroom floor plan in the complex. Buyers will appreciate the extra living area and storage space.
The seller has made some nice upgrades to the unit with a tile backsplash in the kitchen, a remodeled shower area in the master bath and plantation shutters throughout.
There are views of the ocean from the lanai. Surfers and Stand Up Paddlers will appreciate the ability to do a surf check from the condo.
Hale Kanani is less than fifteen years old. Community amenities include a pool and a hot tub. Association rules and county zoning prohibit vacation rentals.
Hale Kanani’s best feature may well be its location. This is a high walk score for those that want to enjoy some of the best features of South Kihei. We have already mentioned the proximity to Cove Park. This is the best beginner’s Surf Break in Kihei. The beautiful sands and waters of Charley Young Beach Park and Kamaole I are just a couple of blocks from the condo. There are a number of restaurants and bars both to the North and South of the property along South Kihei Road. Groceries are just a few blocks away at Foodland.
Find out More About Hale Kanani 1-107
Hale Kanani 1-107 is offered for sale for $560,000. This property sold in 2019. Contact The Maui Real Estate Team for assistance with other Hale Kanani Condos.