Mahana #608 (video tour of residence #608 at The Mahana) is a one-bedroom condo for sale in Ka’anapali displaying Maui lifestyle, convenience, and tremendous value. Recently, I have been enjoying this view from our new listing, which sits directly on the white sandy shores of Ka’anapali North Beach. I have been and will continue to be sitting frequent open houses at this location during this Holiday season.
I want to share with you the 5 value propositions of this particular unit that is perfect as a part time or vacation home that can either be locked up or used to derive rental income through the in-house Aston rental program, or another of your personal choice.
5 Value Propositions
1. Direct Beachfront Location: Residences at the Mahana offer a unique value proposition in that all 209 homes offer direct beachfront living. We are not making any more beachfront here on Maui. Beachfront real estate is a very rare commodity here and an important note is that if they were to rebuild the Mahana right now, there is no way it could be this close to the water.
New developments, like Honua Kai, have substantial setbacks from the ocean and the beach. There is no way that the price/sq.ft. of cost reproduction could be done at even close to these prices. The rarity of this important factor of value is a vital consideration for future price appreciation.
2. Unobstructed Ocean and Outer Island Views: View plays a huge factor of value in Maui real estate values, and with these unobstructed views, this unit will be enjoyed by owners, family/guests of owners, and vacation renters for many years to come.
3. Historical Values: The numbers really speak for themselves as to why Mahana #608 is a tremendous value at $689,000. Peak values for one-bedroom units at the Mahana were at $1,100,000 as recently as 2008. Mahana #608 is positioned $40,000 less than the last one-bedroom sale in the complex earlier this year.
Will it be a while before we reach values seen in 2006? Yes, of course it will, but there is no question that this particular unit has the right mix of high-quality ingredients to make a $1 million dollar cake again someday. Ask yourself this, where will the values be in 10 years from now?
4. Rated “A” by the Aston Program: Mahana #608 is rated as the top tier vacation rental by the in-house Aston program. Vacation rental occupancy rates average around 75% for the year. After the Aston takes their percentage and all costs are paid—property taxes, maintenance fees, and utility costs—the Mahana #608 averages about $1,500-$2,000 per month in net income (assuming that there is no mortgage).
At the current listing price, this represents a 2.6%-3.5% return on cash—certainly better than any U.S. cd will get you, plus you have a place to stay in Maui and build equity in your future and your generations to come. (Exact historical rental income to be provided upon request.)
5. Financially Sound Condominium Complex: The board at the Mahana prides itself on responsibly operating and running the complex. There are healthy financial reserves, the building is in excellent condition and very attractive physical condition, and the grounds are well groomed and beautiful.
Amenities at the Mahana include:
- Tennis courts
- BBQ area
- Oceanfront shuffleboard
It’s time to leave your slippahs on Ka’anpali North Beach, let the silky Maui sand run through your toes, and plant your roots at the Mahana. This is the Mahana life, the Maui life, the Hawaii life.
Please let me know how I can be of service to you in any way.
Jeremy Stice, R(S)
Hawaii Life Real Estate Brokers