Maui condo sales—those that are priced right, whether via foreclosure, short sale, or by a seller who recognizes the reality of the market—are brisk. Qualified buyers, and those with cash, are moving on their vision of owning Maui investment real estate and creating a family legacy of enjoying the Maui lifestyle.
The beach at the north end of Halama Street across from The Boardwalk
Here are five great South Maui condo buys, four of which will likely be in escrow within a few weeks. The Makena Surf listing may take a few weeks longer, but will get there.
1. Boardwalk D, $174,500 (MLS# 348123). This 2 bedroom/1 bathroom foreclosure has appeal on multiple fronts, primarily location: it anchors the north end of Halama Street, an upscale three-block swath of beachfront homes that command up to $4M.
This 10-unit boutique building fits the Halama vibe to a tee, and this ground-floor unit is about 75 feet from the beach entrance with a private lanai. In this price range, I don’t think you’ll find better value. No vacation rentals.
2. Maui Vista 3-208, $200,000 (MLS# 348364). In the entry-level vacation rental market, the Maui Vista delivers superior value on all fronts. First, it’s located across the street from Charlie Young and Kamaole I Beaches, the starting point of Maui’s postcard beaches.
The property is beautifully maintained and well managed, its fees are earthbound, and it has a strong vacation rental following among repeat visitors who know value when they see it. I like Building 3 the best (it’s furthest back) and I’ll be very surprised if this short sale unit closes for less than asking.
3. Hale Kamaole 144, $327,000 (MLS# 346710). Located right across the street from wonderful Kamaole III Beach Park, just a couple blocks from Wailea, the Hale Kamaole’s park-like setting and close proximity to the pristine Kam III reef makes it popular with vacation guests and part-time residents who see themselves staying longer than a few months at a time, someday.
This seller did just what he needed to do when it didn’t sell at the asking price of $380,000: knocked the price down $50K plus, lower than any previous sale in the past year. End unit, ground floor, small pets okay.
4. Kihei Shores C202, $160,000 (MLS# 349128). The median price of the 11 second-story units sold during the past year here (the most desirable) is $152,000 and change, and that includes all short sales and foreclosures. This newly listed unit is in decent shape and in a good building on the property.
The Kihei Shores remains my hands-down favorite of the three condo properties in this price range (including Southpointe and Kihei Villages). It’s in South Kihei, not North (better beaches), and there are still rumblings about the property ultimately becoming a vacation rental property. While you can’t hang your hat on that (the board has approved it, the county has not), it’s one more reason to head South with your entry-level cash.
5. Makena Surf G202, $2,195,000 (MLS# 349080). Okay, so at full list this isn’t a terrific deal, but if it could be had for $1.9M to $1.95M, where the last two comps fell, it would qualify. One of the three (of six) buildings to directly face a soft sand beach, with impeccable views and an amazing lanai.