Honua Kai

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Found 84 blog entries about Honua Kai.

Being in the midst of high season, the Maui real estate market is abuzz in activity. And as a luxury property with an increasing reputation as one of the leading vacation rental properties on Maui, the Honua Kai micro-market is certainly benefiting from the continued demand and decreasing developer inventory. The announcement that the developer would be increasing prices sent many potential buyers off the fence, with 9 of the 14 units set to have a price increase receiving a letter-of-intent prior to the February 28th deadline. Conditions at Honua Kai are at an interesting point in the micro-market evolution and it will be interesting to see how resales will move forward after all developer units are absorbed.

With that said, let us take a look at

With the micro-market at Honua Kai setting a scorching-hot pace through the past 18 months, both in terms of sustainable value increases and absorption rate, it came as no surprise that the developer announced prices will increase.

Since the announcement on February 10th that 14 units will be increased in priced effective February 28th, 9 of those subject units have already gone under contract. For those who have speculated that prices would dip reflective of a weaken Canadian dollar or that the absorption rate was unstainable, that has proven NOT to be the case. From anecdotal experience, we have been seeing well-priced units going into escrow quickly and the list-to-sold ratio continues to be among the strongest of any micro-market in West Maui.

As 2013 came to an end, one can easily see that not only it was a great year for the Maui real estate market as a whole, but that certain micro-niches such as Honua Kai saw a more activity and higher-than-average increases in values. Let us examine the infograph below to easily assess some of the most significant shifts within the resort.

As can be seen above, sales activity remained strong, but what led to such a drastic change in sales volume (69% increase over the previous year) is the type of units that sold. In 2012, the bulk of all sales were 1 bedroom units, whereas 2013 saw a very balanced absorption of all inventory among the different sizes and value propositions. With more sales of 2 bedroom units in 2013 than of 1 bedroom units, what is

As a whole, 2013 proved to be a marked shift in the Maui real estate market, with some micro-markets such as Honua Kai enjoying particularly strong sales activity and valuation growth. We will be posting an in-depth analysis of 2013 for Honua Kai and its context within the high-end Maui market, but in the meantime, we will post our December update.

New Listings

Four new listings joined the inventory:

Hokulani 518 - Priced at $798K, this 1 bedroom / 1 bathroom will fill a void in the depleting 'entry-level' inventory. 

Hokulani 446 - Large 2 bedroom / 2 bathroom on the northern end of Hokulani, facing Konea. Priced at $1.3M, it is a bit above comparable sales.

Hokulani 111 - Ground-level 2 bedroom / 2 bathroom unit on the inner courtyard of

One of the most unique and breathtaking luxury condos at Honua Kai has been listed: Konea 601. Presented by Maui Westside Properties, the 3 bedroom / 3 bathroom unit boasts 2,365 square feet of astonishing square feet of interior living space, perfectly balanced with 1,375 square feet of outdoor living space seamlessly integrated. 

Take a look at the map below for orientation of unit within the complex. It offers privacy and unparallaled view corridors, guaranteed not to be obstructed due to height and proximity to ocean.

Now let us look at the floor plan, masterfully designed to integrate indoor/outdoor living while maximing views from the living/dining areas, both master suites, all anchored around the expansive lanai.

Being arguably one of

As the year nears its end, we continue to monitor the Honua Kai real estate market for new listings, units going under contract, and closed sales. So let us take a look at the month of November and thereby make reasonable assumptions for the upcoming high season.

New Listings

Konea 837 - A studio in the newer tower with a prime location. It is priced at $769K and it is on the on-site property management program, with a very active occupancy rate.

Pending Listings

The listings below are those that went under contract during the month of November only - there are other units that are still Pending but came under contract outside of November.

Konea 432 - A large 2 bedroom / 2 bathroom unit facing the mountain, on the outside perimeter of

As the Honua Kai micro-market continues to rebound and is bracing for the upcoming high season - when we expect another upsurge in activity and inventory absorption - it is important to note some relevant news:

There is an approved increase in the HOA fees by a bit over 5%, taking the fees to $1.42 per square foot of interior living space. Note, the outdoor living space is NOT included when calculating HOA fees. This increase will become effective on January 1st. 

We keep abreast of the latest Honua Kai Resort and Spa so our clients receive the most up-to-date information available. Questions about selling or buying a Honua Kai condo? Contact us at alex@mauirealestatesearch.com or 808.385.5034 for up-to-date information about this and other

As 2013 winds down to a close and the slow season (September/October) inevitably leads to high season (starting mid December), it becomes pertinent to be informed of micro-market conditions. And with a strong emphasis on the Honua Kai condos for sale, we serve regular updates to keep our clients abreast of market trends/conditions.

As such, let us look at Honua Kai sales activity in the month of October:

New Listings

Hokulani 718 - 1 bedroom / 1 bathroom, 700 square feet, on the southern edge of the Hokulani tower. Priced at $869K.

Konea 329 - 3 bedroom / 3 bathroom, 1,610 square feet, on center of the inner courtyard of the Konea tower with sweeping ocean views. It has been previously offered by the developer for some time, but now was

I don't typically write in the first person, specially about my personal life. However, I had a recent visit to Honua Kai and I would like to share my experience - perhaps it might be helpful to someone else considering a stay at this luxury Kaanapali resort. As a preface, the following post is written from the perspective of a family with two small children (5 year old boy and 20 month old girl).

As my five year old had 'fall break' from school (and really, I don't remember having this much time off when I was a kid), we decided to have a 'staycation' on West Maui, take the opportunity to enjoy the Maui lifestyle and spend some much needed family time. So we looked at suitable options on the west side, from the Westin, to Honua Kai, to Kapalua Bay

As the September month is nearing its end, it is an opportune time to look back at our last Honua Kai update and review what has taken place since then that is noteworthy.

Sold

The sale of Konea 451 is significant not merely due to its sales price of $3.649M, but perhaps more importantly as it solidifies a recent trend: the high-end 3 bedroom residences at Honua Kai  continue to be absorbed as the micro-market shifts from almost exclusively entry-level units to a more balanced marketplace. The 3 bedroom / 3 bathroom condo offers 2,280 square feet of interior living space and some of the most phenomenal views of the Pacific. The buyer received a closing incentive of 3 years of prepaid HOA's.

Pending

It comes as no surprise to a savvy Honua