Sunday, January 8, 2012
While some areas of the Maui real estate market remain stagnant, Honua Kai in Kaanapali has been setting a high pace for the high-end tier of the market. As the first Fee Simple beachfront condominium complex in West Maui in over 20 years, it received tremendous interest by potential buyers upon its first offering in 2006 and sales have been strong ever since. In 2011, sixty-nine transactions closed, from a low of $400K to a high of $2.79M, averaging $821,870.
What makes this property so appealing to potential investors is its a combination of unparalleled beachfront location directly on one of Hawaii's best beaches, brand new construction with impeccable construction and its short-term rentability, allowing owners to enjoy their unit while vacationing and renting it during their absence. Sitting on 40 acres of prime Maui real estate, Honua Kai consists of 390 units ranging from studios to 3 bedroom penthouse-style suites, set on two towers: Konea and Hokulani. Owners and guests enjoy a plethora of amenities: an on-site top rated restaurant Duke's, a series of pools and jacuzzis, concierge services, a fitness center, top-of-the-line barbecue equipment, and valet parking, to name a handful. For the convenience of owners, there is an on-site property management, which makes ownership as simple as lock-and-go while optimizing potential income generation. But as always, owners are welcome to use a third-party property manager that suits their needs.
Activities in Kaanapali abound and are only limited by one's imagination: from championship-grade golf, to some of the best snorkeling in the world, to 5 star dining, to pampering spas, to the most simple of life's joy (walking on the beach). And for those who are ready to explore the rest of the Valley Isle, some of the greatest natural attractions in the Pacific are on Maui, such as Haleakala National Park, Iao Valley, the Seven Sacred Pools, and Hana - the road to Hana being in a class all of itself.
Honua Kai has been redefining Maui luxury real estate and with the last developer units being release for sale, it's not too late to purchase a piece of paradise.
Friday, October 28, 2011
Maui was voted as the Best Island in the World again by the readers of Conde Nast, and this year it was also the best destination in the world. So it's no wonder that many flock to Maui to invest in real estate. But what exactly makes the Valley Isle so special? It'd take days to list all the reasons, so for the sake of brevity (and my sanity), I will only list to the top 4 reasons:
* It is a vacation destination unlike any other even when compared to the other Hawaiian islands. It provides a perfect mix of exotic culture, tropical location, and safety of being in the United States.
* At this point, it is a buyer’s market. The inventory of REO's and Short Sales continues to be absorbed quickly and there are opportunities for those who are willing to wait but act quickly when the ideal property comes on the market. And so far, Act 48 hasn't had as big an impact on Maui as it was expected.
* It is a destination that can make a real estate investment into a vacation. Aside from the world-class beaches and golf courses, Maui has an array of activities: from sunbathing, surfing, kayaking, paddle boarding, snorkeling, hiking, to just sitting back and enjoy life passing by, life on the Valley Isle is always just a bit more enjoyable.
* And last but not least, simply because it is Maui! Long known as a long-term equity market, Maui has limited potential for growth due to strict zoning ordinances and there is obviously only but so much oceanfront/beachfront that is buildable. Those who invested in Makena Surf already know, they bought condos in the $400K's back in the 80's and those units are worth well over $2M today. Not many places in the world can claim that kind of appreciation.
If you'd like to know what's currently on the market, visit our Maui real estate site and contact us should you have any questions.