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27% of Puamana 2015 Sales Come in December: Prices Strong

Puamana closed out 2015 with 3 properties selling in December, nearly 30% of the entire year’s sales volume. What we saw in those transactions were 2 oceanfront units $2M+, and a bank REO go for ever so low. From January to December 31, 11 total units sold, which is on pace with the 20-year average of sales volume in a 12 month period (12).

Puamana Pools

A pool with a view. Can it get any better?

Closed 12/8/2015 – Bargain Buy: 139-1 was listed as a 1 bed/1 bath, 940 sq. ft. unit and closed for $420K. Actually, I take that back, it was barely listed…it went on the market for the sake of novelty and was recorded all within 14 days from list to close…that’s quick. If you’ve been in this unit when it was going through the commissioners sale back in 2014, it was on and off the market for a bit.

Puamana 139-1

Unit 139-1 bank REO turned opportunity for new owner

You’ll remember it had a mostly unfinished loft and was in desperate need of a remodel/upgrade. Regardless of the condition, this is a great find for the price and the 2nd lowest price/sq. ft. 1 bedroom sale since 2002. Upside: great price, tremendous potential. Downside: some highway noise impact.

Puamana 139-1

Some work to do; unfinished loft of 139-1

Closed 12/14/2015 – Epic Location: 9-1 is a direct oceanfront end unit and sits right in front of Hot Sands beach and surf break. It looks out to the grassy lounge area and has ocean and Kohoolawe island views. Some would say this is the very best view direction as it faces more to the South and is unaffected by direct sunlight from the later afternoon sunshine/sunsets to the West.

Puamana Hot Sands

9-1 end unit location right in the middle of the outdoor action

This property closed for a healthy $2.5M ($1,793/sq. ft.) and inline with other prime time oceanfront sales. Upside: too many to name, mainly its location, direct oceanfront and right in the heart of the neighborhood. Downside: while upside is that it sits in front of Hot Sands beach, that exposure tends to create a lack of privacy (boo hoo).

Closed 12/16/2015 – South End Splendor: 240-5 sold after 254 days on the market for $2.05M. With unreal ocean views and green space frontage combined with privacy only a few other buildings can offer, this unit located at the south end of the neighborhood is pretty special. Upside: Big, spacious unit, great views, backyard space, recent remodel. Downside: Some, but minimal highway noise impact.

Puamana 240-5

240-5, pictured in the middle, offers one of most spectacular West Maui views

The Complete Sales Numbers

For a breakdown of 2015 sales, please see CMA graphic below. I’ve also included links that contain easy to read and navigate 22 year history of Puamana sales, complete with comparison, contrast and graph timelines (save these links).

If you are interested in buying or selling your Puamana property, or have any questions regarding the neighborhood or this article, please feel free to contact me.

Thanks for reading! Aloha!
– JTO

About the Author

Jeff Onderko

Jeff Onderko is a REALTOR Broker with Hawai'i Life. West Maui Real Estate Broker, and ultra enthusiastic advocate of Maui's Lahaina, Kaanapali and Kapalua areas. I truly believe it's an honor & privilege to call Hawaii home. For 17 years now, West Maui is where I live, work and play. My team and I specialize in resort market home and condominium sales striving to deliver the highest level of professional service possible. With $50M+ sold, a panache for extensive statistical research and 100+ published real estate articles since 2015. I'm relevant, information driven and responsive. I bring a passionate energy, an entrepreneurial understanding and a client-first approach to my real estate business. Prior to becoming a Realtor, I was an independent publisher, starting and operating Maui, Kauai and Hawaii Real Estate Weeklies, Maui Time Weekly (partner), and in 2005, I was a Mayors Small Business Award finalist. In 2009, after seeing the demand and living in an under serviced pet market, alongside my Mom, Susan we opened West Maui Pet Supply. I started my career after college as an account executive with Orlando Weekly ultimately becoming their Advertising Director. Then I moved on to Advertising Sales Manager at Orange County Weekly, in Southern California. I am native of Detroit, Michigan, but grew up in Florida splitting time between Miami, Orlando and Cocoa Beach, Fl. I was a scholarship soccer player at the University of Central Florida and graduated with a BA from their School of Communication. Always attracted to healthy lifestyle, adventure, great weather, water sports and the outdoors, I moved to Maui in the summer of 2002. When the Realtor hat comes off, I'm active in the community coaching U-14 Boys Soccer (AYSO - West Side Pride) and I still play in the West Maui open division. I'm involved along with other fellow Hawaii Life comrades volunteering regularly at the Ka Hale A Ke Ola Shelter in West Maui and I'm on the Board of the Hawaii Life Charitable Fund. Through the outlet of the WM Pet Supply, I was heavily involved with the Maui Humane Society & ASCPA getting animals adopted & spayed/neutered. When I have free time you'll find me surfing, golfing, at the gym, a regular at yoga class, hanging at home with my animals or working in the backyard on my organic micro-farm (aka: food garden). You can email me at JeffOnderko@HawaiiLife.com or via phone at (808) 280-4881.

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