South Kihei Beachfront Condo Analysis

Posted by Alex Cortez on Sunday, August 17th, 2014 at 3:24pm.

The Maui real estate market continues its upwards trends with some micro-markets such as Honua Kai experiencing better than average valuation improvements, while others are still trying to catch up. As such, we are often asked 'how is the market' doing - and while there is no blanket answer to accurately describe every micro-market, there are discernible trends in that can be ascertained when analyzed in context. Is there one to be found in the South Kihei beachfront condos?

With a strong emphasis on the Kihei condo market, we diligently keep our clients informed of new inventory, closed sales, community information, etc. and through time and expertly analysis, trends become evident. There is a definitive difference (both in terms of valuation and lifestyle proposition) between North Kihei, Central Kihei, and South Kihei. So at this point, let us examine waterfront condos in South Kihei, which include Royal Mauian, Hale Pau Hana, Kihei Surfside, Mana Kai, and Hale Hui Kai - purposefully excluding Kamaole Nalu (due to its leasehold land tenure) and a couple of boutique complexes such as Kamaole One or Punahoa Beach Apts (due to limited activity which would provide little to no context).

Updated Chart, 2019:

South Kihei Beachfront Real Estate Statistics


Original Chart:

kihei condo sales statistics

Although every property has experienced its own trends/fluctuations, there are enough similarities on which conclusions can be drawn. With flat (or slightly declined) values from 2010 to 2011/2012, the real estate of the recovery commenced in 2013. The average price per square foot for these properties jumped from $1,039 to $1,233 (18%+), while Mana Kai led the way with an increase from $1,156 to $1,474 (27%).  Worthy of special emphasis is Royal Mauian, as sales of units in the 01 and 19 stacks (which do NOT face the ocean) can heavily sway values, which is not necessarily reflective of overall market direction.

Over the last few years, Mana Kai has seen the most significant increase, but it's worth noting that the highs of 2016 could be attributed to some of the premium units (closer to the ocean and/or higher floors) were absorbed, which spiked the micro-market. In addition, Hale Pau Hana has been plagued with lack of inventory - when they come on the market, they are selling quickly but simply not enough inventory to see huge, sustainable jumps on valuation. 

It could be safely presumed that Mana Kai will continue to lead the way in Kihei beachfront condos market, specially after having gone through its recent $5M renovation - which included (but is not limited) to a new roof, redesigned lobby, new pool decking, new water features, new doors on every unit, new artwork, and more. 

Living and working in Kihei, we understand micro-market conditions exceedingly well and assist our clients best meet their Kihei real estate objectives through diligent, professional service with Aloha. Call any time at 808.385.5034 or email alex@mauirealestatesearch.com for a private consultation.

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Specializing in Makena and Wailea real estate, Alex Cortez is fully dedicated to representing his clients ethically and diligently. Contact him at 808.385.5034 or Alex@MauiRealEstateSearch.com for more information.

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