Haiku, Maui Home Sales Over $1M – Market Report

Haiku, Maui Luxury Home Market – What’s Selling and What’s For Sale?

Let’s take a look at what’s for sale in Haiku, Maui, especially in the price bracket over $1,000,000, where the majority of Haiku listings are these days. Today, out of 55 Active and Pending listings in Haiku, 19 are priced under $1M and only 6 are priced under $500,000. 7 residential properties are Pending in the under $1M category and only 1 is pending in the over $1M group. Obviously, homes in this price range have a smaller pool of eligible buyers.

From here on, we’re just looking at the properties priced at $1M or over…

What Sold in the Past 12 Months?

• 18 sales ranging in price from $1,010,000 to $9,750,000
• 15 were priced under $2,000,000 at time of sale
• with one exception, all came with 2 acres or more of land, and as much as 39 acres
• Days on Market (DOM) varied from 37 to 649, with the longest time on market corresponding to the lowest sale price!
• none were oceanfront properties
• 1 was bank owned, and none were short sales
• only 2 sold for over asking price, and one of those was the bank owned home
• 4 were situated ocean side of Hana Highway which is also a SMA (special management area)
• 2 were completely off-grid as well as ocean side of Hana Highway, with no public electric or water service
• 8 properties came with only one house, while 10 came with an additional cottage or house
• interior square footage of the main house ranged from 440 sq.ft. to 8,716 sq.ft.

2425 Lilikoi Rd. (MLS# 365977) sold for $1.3M, which was over the asking price of $1.2M. It was 3 homes and a tennis court, on 2 acres. It was also the quickest sale, which goes to show that pricing below market will result in a quick sale at market price.

What’s For Sale Now Over $1,000,000?

• 36 listings with only 1 pending sale, ranging from $1,035,000 to $9,750,000
• 24 listings are under $2,000,000 and just 3 are over $5,000,000
• land size goes from 1.35 acres to 26.7 acres
• 13 properties are ocean side of the Hana Highway and 2 of them are completely off-grid with large acreage

 
With an absorption rate of 18 sales/year, current inventory will take 2 more years to sell, not accounting for new listings coming onto the market. This is not what sellers want to hear, but that’s the market speaking.

Unique Haiku Homes For Sale

What are some really private and unusual homes in Haiku for sale now? A couple of my favorites are these two:

216 Door of Faith Rd, Haiku, HI (MLS# 359610)

455 Kukuna Rd, Haiku, HI. (MLS# 364073)

Are You Buying or Selling in Haiku, Maui?

Get the help you need, and the results you want, by working with a Maui Realtor who lives and works in Haiku – Georgie Hunter – Maui’s Realtor Salesperson of the Year for 2015!

Georgie Hunter, R(S), e-Pro
Direct: 808 283-0635