With the Maui condo market continuing to heat up – condo sales and prices were both up sharply over a year ago – finding an ocean view vacation rental in South Kihei, at under $350,000, has become a challenging proposition.
Stunning lanai view from Unit #509
Island Surf Unit 509, a 1-bedroom unit that will hit MLS later this week, answers that challenge with a stunning lanai view of the ocean, across the street from one of Kihei’s most popular ocean playgrounds. The Cove, south Maui’s best surf break and a haven for standup paddle boarders and kayakers, is in full view, and stunning Charlie Young Beach awaits, a one minute walk away.
Breathtaking Views with Rental Income to Match
This unit is on the fifth floor of the 6-story Island Surf and shows off a commanding view from its lanai and living room.
The view is even sweeter from the current owner’s perspective: he’s collected more than $112,000 in vacation rental income over the past three years, and peaked in 2012 with more than $40,000 gross rental income (verifiable via tax returns). Bookings that carry through much of this year are included with the purchase.
The popularity of this unit is understandable. The ocean view is enhanced by an interior living space that was beautifully remodeled three years ago. Furnishings and art are a cut above typical vacation rental décor, creating a brisk demand for repeat bookings. Bamboo (laminate) flooring, granite counters, and upgraded fixtures create a warm, comfortable environment.
Island Surf Amenities
The well-kept Island Surf features:
- A pool
- Private, reserved parking in the rear of the building
- One of the lowest maintenance fees of any South Kihei vacation rental condo property ($343 monthly)
This unit is the only current listing at the property – unit 604, another 1-bedroom listed at $349,000, went into escrow yesterday.
Kevin Spaise is the Author of The Maui Condo Book, and represents buyers and sellers of Maui investment condominiums.