The Parkways at Maui Lani announced this past week that all Phase 2 homeowners have moved into their new homes! Also, they announced only two homes remain for sale in Phase 3, Release 2. These two homes are the 1,663 square foot Kahili-Plan 9 on Lot #189 (7,967 sq ft) with a purchase price of $631,000, which includes the optional Drop-Zone, and the 1,937 square foot Ko Olina-Plan 11 on lot #190 (7,030 sq ft) with a purchase price of $660,000.
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Ko Olina-Plan 11
As pointed out in my previous Parkways blog post, my wife and I purchased a brand new home here in The Parkways last year. There are several new floor plans being introduced in these later phases, as reflected in the two available Phase 2 offerings shown above.
How to Purchase a New Home at The Parkways
Here is an overview of the process you might expect in purchasing a new home here in The Parkways:
First, you write a fully refundable check for $5,000 to get on the “Reservation List” at The Parkways. At this point, if you are financing, it is required that you are pre-qualified with a lender. It is very strongly advised that you use one of the builder’s lenders.
If you plan on a cash purchase, now is the time when the builder will ask for proof of funds.
Then, each time the builder has a release of new homes to buy, they send everyone on the reservation list an email letting them know which lots are available. All of the lots are pre-determined as to which floor plan will be on them.
If a floor plan/lot location appeals to you, you then enter into a contract with the builder. They require a non-refundable deposit (A) of $10,000 and the $5,000 for the reservation deposit can be applied, so you need an additional $5,000 for the first deposit.
The second deposit (B) is when the slab is poured. If the slab is already poured when you sign the contract, then you need a total of $20,000 down at that point. That is how it was when my wife and I purchased here.
The third and final $10,000 deposit (C) is when the home is drywalled.
The balance of the purchase price will be cash, or a combination of cash and proceeds from financing. This entire process can take from 7-12 months, so it is advisable to get on the reservation list with the fully refundable $5,000 deposit as soon as possible.
There are many options you can choose from. We chose to have the builder upgrade the tile in the bathroom, and upgrade the carpet. We purchased the stove and dishwasher from the builder, and purchased the fridge and washer/dryer from a local appliance vendor. Those are the types of things that impact the difference between the listed price and the sold price. There are many other options to choose from as well.
Then there are the finishing touches.
Here is an example:
We chose to install air conditioning. We chose to wait until we closed on the house, and hired an A/C contractor to install a 3-zone system. Also, you are required to install irrigation and a yard.
The homes all come with the interior painted white. We hired a painter to paint the walls inside the house, leaving the trim and ceiling white.
Put My Experience to Work For You
Phase 3-Release 3 will be coming very soon. It is a good idea to be proactive as far as getting on the reservation list as soon as possible. Please feel free to contact me regarding any interest in future releases here at The Parkways at Maui Lani, or for more information regarding real estate on Maui.
Realtor-Broker, RSPS (Resort and Second-Home Property Specialist), MS