By Jo Dorner
This spring has been an interesting one for Maui real estate. Some neighborhoods are still seeing prices falling, in others, properties are rapidly recovering their value. Buyers in the market for a home on Maui are in luck, loans are available at low interest rates and may stay that way for a while for single family homes. If you are looking for an investment property, conditions are not quite as favorable, condo hotels and other investment properties see higher interest rates on loans.
The Grand Estates Auction company recently sold one of our listings. It was a very successful day for all involved. The home at Honolua Ridge sold on auction day and was closed 30 days later, paid in cash. The final selling price was $4,510,000, quite a bargain for a 4631 sqft home with a pool and all the amenities. Lots at Honolua Ridge are selling for $1 million and up making a home for only $4.5 million look like a steal.
Buyers should take note, Maui condos sales are still flat. If you are looking for a starter home, second home, or investment property there are plenty of excellent Maui Condos for sale to choose from. Many good buys are available at the Kapalua Golf Villas, luxury one bedroom condos starting in the $400,000 price range.
Patient buyers on the lookout for a deal can find ocean view homes for great prices. Kapalua Place has a 10239 sqft oceanview home for $9,950,000. Twice as many ocean views available in this great two story home. If you're looking for a home in West Maui, check out my listings.
Maui's luxury home market recently got a boost from the sale of a Makena property for $27 million. Big sales like the one in Makena bolster the value to high end real estate all over the island, even way over in Kapalua. Another reason to expect Kapalua's property values to continue to rise is the continual facilities improvements that have gotten underway since Troon Management took over the care of the resort facilities. As the golf courses, tennis courts, and other amenities are improved and become more attractive to visitors and owners, property values will continue to rise.
By Jo Dorner
This spring has been an interesting one for Maui real estate. Some neighborhoods are still seeing prices falling, in others, properties are rapidly recovering their value. Buyers in the market for a home on Maui are in luck, loans are available at low interest rates and may stay… Continue Reading