Maui Condo Bargains Appeal to Buyers

These are great times to be shopping for deals on full time residential Maui condominium properties, where prices are usually significantly less than comparable projects zoned for short-term (nightly/weekly) rental.

North Kihei’s Kai Makani – no short term rentals, but long on value at $389-500K (MLS# 338483)

Although these properties don’t offer the flexibility or return of condo-tel styled properties, they do permit full-time rental, and often reflect the pride of ownership associated with any high-percentage owner-occupant property.

Buyers working with target prices of as little as $150K now have a surprising array of options. Not all of them are at the larger north Kihei apartment-styled properties like Southpointe (MLS 336060) or Kihei Villages (MLS 341139), where REOs and short sales dominate activity.

Entry-Level Maui Condo Bargains I Like

(Maui condos under $350K)

• The ocean front Waipuilani, where we found a beautifully renovated 680 square foot 1-bedroom listed at $240K (MLS 340004).
• A short sale at $135,900, and the Haleakala Gardens, with a pair of 3/3 ugly duckling short sales at $199K (MLS 341001). The Maui Gardens, also north-central Kihei, is worth a look in the mid-200s.
• Upper North Kihei’s Villas at Kenolio is a newer development, and it’s priced in the mid 300’s to $450K, with an REO 3/2 recently listed at $322,900 (MLS 341261).
• In the low $200K range my favorite is the Keonekai Villages in South Kihei (MLS 341166), almost directly across the street from Kamaole III Beach Park. The neighboring Kihei Shores is priced a little lower, with a lot of inventory, and in my opinion not nearly as appealing.
• There is suddenly a lot of low-priced inventory in the Kihei Cove area, up Walaka Street off Kihei Road. Located a quick jog to Kihei’s surf break (The Cove) and to Kamaole I and II beaches, this three-block area features a patchwork of small properties, with at least four of them offering units in the $190-230K range (Bay Vista, Kalama Villa, Kamoa Views, Kanoe Resort). In my opinion, the Kamoa Views leads this pack, $155-245K (MLS 339782).

Note: If you’re looking in this range, you should also poke your head in a unit at the Pacific Shores, across from South Kihei’s Kamaole Beach, where you can buy in the mid-200s to $300K. It has great beach access, and is in the heart of South Kihei’s shopping district.

Mid-Level Bargains I Like

(Maui condos from $351K to $600K)

• South Kihei’s Halama Street is a neighborhood unto itself, with beach front homes priced in the $2M range. At the northern gateway to this wonderful beach street is the Boardwalk, a stylish 10-unit boutique condo property 100 yards from the ocean. A rare listing there features a nicely upgraded 2-bedroom at $379K (MLS 341038).
• There is an excellent selection in the $500-600K range. The Hale Kanani, $495K, 1058 sf (MLS340356), Ke Alii Ocean Villas, $579K, 1273 sf (MLS340986), and North Kihei’s Kai Makani, $389-500s (MLS338483), were all built in the last few years.
• As I write this, one of the real residential stars at this price point is the little known Hawealani, a 4-unit sleeper property a stone’s throw from Charlie Young beach, on the ocean side of Kihei Road. Listings are rare on Iliili Street,  and this 3-bedroom , with 1164 square feet of living space, is listed at $550K. There has been only one sale here in the last four years, at $599,500 (MLS 340053).
• In this price range, I’m also very fond of the Wailea Fairway Villas, bordering the planned community’s scenic Blue course. At $399,000 (MLS 338224), this 949 square foot 2/2 represents excellent value in Wailea. It was originally priced at $485K.

High-End Bargains I Like

(Luxury Maui condos from $601K and up)

• The Wailea Palms remains a residential favorite, in the $700K-1M range (MLS 338054). It is one of a handful of incredible gated properties in this southernmost resort area, home to some of the world’s best-rated beaches.
• Kanai Wailea, featuring units spanning up to 2,400 square feet, is priced in the mid-900s (MLS 336607).
• You should also look at the new Kai Malu in this price range, in the $850K-1M range, 3/2.5, 1852 sf (MLS 339136).
• Up the ladder, the incredible Papali (MLS 337669) offers a distinctive single-family feel, at $2.6M, with 2386 sf.
• Another condo property with the feel of an upscale residential neighborhood, the Hokulani Golf Villas range from 1900-2500 sq. ft., and are priced at $1.15-1.4M (MLS 337709).

Note: If you’re in the $1M range, be sure to look at Hokulani Golf Villas, built around the Elleaire Golf Course on the mountain side of Piilani Highway.

Kevin Spaise R(S) is one of Hawaii Life’s Maui property professionals. He is the Publisher/Author of The Maui Condo Book (www.TheMauiCondoBook.com), the reference directory used by most top Maui real estate agents, brokers, title companies, and investors. He is happy to answer your questions about Maui real estate: kevin@hawaiilife.com (808) 344-0624.