It is no surprise anymore that we are living in a Seller’s market in Maui real estate. We currently have record low inventory and interest rates driving our market. That coupled with a pandemic in which many people are re-evaluating where they live. Sellers are seeing multiple offers and in some cases, over asking offers.
Condo sales have dominated the market. Condos comprised 58% of the closings on Maui in the 3rd quarter of 2021. The median sales price is $646,675, which is up 14% from this time last year.
Pohailani Maui, Unit #156
Pohailani Maui, Unit #156 went on the market in October 2021, and within 4 days was under contract. The Seller had a choice of multiple offers, one better than the next! Although it is such as hot market, it is no surprise there was so much interest in this unit.
This beautiful unit at Pohailani was just recently completely remodeled and ready for someone to call home. New from floor to ceiling, upgrades include a totally new modern kitchen, new gorgeous bathroom, new flooring throughout, new stainless steel appliances, and furnishings. This fully furnished unit is completely unique as it comes with an additional 500 sq ft (approximately) storage area. This unit is divided into 4 spaces generating almost $6000 per year in rental income.
Two beautiful pools, tennis courts, and barbecues are all set amongst a beautiful tropical setting full of flowers and fruit trees. All of this is directly across from the beach and ocean! This unit is located in a great location within the complex with a serene garden view. Shops and restaurants are just a short walk or bike ride away.
Highest Recorded Sale at Pohailani
Unit #156 closed on November 2, 2021 as the highest recorded sale at Pohailani Maui at $550,000 Fee Simple. This is the combination of a beautiful unit, additional storage unit for income, and a hot, hot, hot Seller’s market! Now is the time to sell!
If you are considering selling your property on Maui, contact Pam to discuss the possibilities!