Kihei Condo Sales For March 2012

It was another active month in Kihei condo sales with 46 condos closing escrow in March – up from 35 in February and 29 in January. There were 49 sales in March, 2011.

Mana Kai 201 sold at $860,000, one of five Kihei condo sales in March that closed at over $800K

There were nine short sales, six of them at the lower end of the market ($200K or less). Three of the nine shorts were vacation rental condos. Three condo foreclosure sales were recorded, two at under $125,000 at Kihei Villages, the other a vacation rental at the Maui Banyan – a 2-bedroom that sold at $370,000.

Three Southpointe 2-bedroom condos, only one of them a foreclosure or short sale, sold at between $110,000 and $125,000

March sales reflected strong activity in all segments of the Kihei condo market with five recorded sales over $800,000:

• One rare Kihei Surfside oceanfront 2-bedroom that sold for cash at listing price of $999,000 before it hit market
• Two Hokulani Golf Villa residential golf course condos at $989,000 and $867,000
• One second-floor Mana Kai unit at $860,000
• One second-story Royal Mauian at $810,000

Five of the new-build Ke Alii Ocean Villas units (1,375 to 1,717 sq. feet), the residential-styled property near Kamaole II Beach, sold at between $530,000 and $705,000. In all, 24 vacation rental condos sold.

Fourteen of the 49 sales were properties selling at $200,000 or less. Of these, three were vacation rental condos.

• In South Kihei, three Maui Banyan 2-bedrooms and one 1-bedroom sold at $525,000, $500,000, $370,000 and $279,900, respectively.
• Kihei Kai Nani had two 1-bedroom sales at $215,000 and $226,000.
• Maui Kamaole had one sale, a higher end 2-bedroom at $732,000.
• One Maui Vista 1-bedroom unit in building two recorded at $253,000.

All of these are vacation rentals. No Kamaole Sands units changed hands in March.

A report on all Kihei condo sales for March, 2012 follows:

Kevin Spaise, an expert on Maui condos and residential real estate, is the author of The Maui Condo Book, the reference directory used by most Maui brokers and other real estate professionals (www.TheMauiCondoBook.com)