I know that I live here, and I am perhaps a little biased on the lifestyle here in Hawaii, but as the rest of the world’s other vacation spots for sun and sand are feeling a little more upside down and disrupted with drastic weather events, heavy rains, and political unrest, it just seems natural for Hawaii to be the first choice for many vacationers.
We all need to soak up some sun and some vitamin sea to keep the weight of our everyday workload and societal pressure off of us. That’s why I think that buying a vacation rental in Maui is a great idea. Not only is it a great return on your money, but also that priceless time you get to spend here making memories while unwinding with your family and friends. If you are looking at selling a mainland property and have a 1031 tax-deferred exchange, it may be worth your while to look into the return on investment (ROI) that some Maui properties have. I have had a number of clients reach out recently about what this ROI looks like, and they have mostly agreed that with our favorable property tax structure and the vacation rental numbers that Maui is a great spot to park your investment dollars.
So that leads me to a quick snapshot of what is going on here in the Wailea/Makena/Kihei area of the island. As Spring Break is coming to a close, and I look at the number of pending units here on the South Side and some of the quickest sales I have seen in a long time. The breakdown is in simple numbers.
South Maui Vacation Rentals
- 210 units have sold in the last 6 months
- 60 units are currently pending
- We have 125 ACTIVE units on the market which is about another 6-8 months worth of inventory, max.
Units that are priced well will sell quickly and some within days with multiple offers.
Let’s take one of my favorite vacation rentals in South Maui the Hale Hui Kai.
This darling boutique complex of just 40 units that is quintessentially old Hawaiian and located at the end of Keawakapu beach adjacent to Sarrento’s on the Beach. Three units have come up for sale in that complex over the last year. Units are ranging in price from $950K to just under $1.5 million. My listing at unit 104 went pending in the complex with multiple offers in 4 days.
If something is priced right, staged well, and marketed properly, it will sell and should sell quickly.
Why wait? Maui’s calling…
Life is short, come live at the beach!