Looking for an investment property in Maui? Studio residences at Honua Kai are some of the best cash on cash performers that I have seen in the entire marketplace on Maui and I would prognosticate are some of the very best in the state.
The power of teamwork, clear communication, and high integrity by both purchasing and selling parties recently led to the success of Ka'anapali Plantion #33 being sold by our team.
Much of my personal real estate career between 2008-2012 has been shaped by the ubiquity of distressed properties.
Having lived in Haiku and owned property for the past 37 years, I really appreciate the work it takes to grow a fruit tree that will eventually produce tasty treats one day. This makes all the hours of digging, weeding, fertilizing, etc all worth it. When you are out cutting the lawn or working in the orchard on a warm day, you just stop by the orange, tangerine, or banana tree and grab a sumptuous tropical fruit.
4323 Opana Place (MLS# 363326) priced very competitively at $875,000
4323 Opana Place in Haiku was built in 1991 by a local contractor as the first home in this small subdivision located about 100 yards above the Hana Hwy. This fully fenced property has a large orchard, full of producing fruit trees. There are ocean views filtered by the trees and warm trade-winds blowing year-round; you have an ideal setting to “grow your own” and live in paradise at the same time.
With prices climbing steadily since 2011, this house is priced very competitively in the Haiku market. With recent vacant land sales for 2-acre lots approaching $500,000, this home represents a value that you could not duplicate by purchasing a vacant lot and building new. The best part is you can just move in right now, with no major repairs required to do so.
With 3 bedrooms and 2 baths and a large, open living area on the main floor, you may either access from the street level, directly in the front door, and have the advantage of single floor living, or you can enter from the garage below and have a 3rd half bath for when you are working in the yard, or for future expansion.
A full two acres and plenty of room to build an additional structure or just to enjoy the yard
If you require more living area, the owner has full plans ready to go to add over 1,000 sq.ft. of living area in the current, unfinished basement area of the house. All of the plumbing and electrical is in place and ready to go. This home has full services, county water meter, electricity, high speed internet, trash pickup, and is ready to move in to. An additional bonus is that you can legally add another 1,000 sq.ft. cottage to the property if you need an additional structure.
Why Live & Love the North Shore Maui Life
With great access to the Hana Hwy and Paia and Haiku towns nearby, you are only minutes to shopping, restaurants, and the best windsurfing on the planet at Hookipa Beach Park, 10 minutes away. Check out my previous post on why I love my North Shore life.
Photo credit: Tim Stice – taken at Peahi, Haiku, Maui “Jaws” on 1/21/15. Jaws is a short 3-minute drive from 4323 Opana Place
Maui Property is Valuable – Your Time is Priceless. We List & Sell Property, Properly.
Having lived in Haiku since 1978 (I am still on my 5 acres) and raising my 3 children (all born on the property) with my wife, Laura, I truly have a feel for the land, the community, and what it takes to prosper here. My children are now all successful adults and my son, Jeremy, along with my nephew, Tim, are my business partners in real estate. We work as the “Stice Team” at Hawaii Life Real Estate Brokers and we are the top selling agents in Haiku. We know and love the area, so it is logical that we can best share that love with our clients.
If you want to talk about farming, real estate, surfing, cycling, canoe paddling, or living the Haiku life, please reach out to me.
We look forward to sharing more information and details on this great home value. Please contact the Stice Team for more information or your personal viewing.
Aloha from the listing Brokers,Tracy Stice R(B) 808.281.5411 Tracy@HawaiiLife.com
Reviewing numbers and statistics can put me to sleep, but they tend to be a very necessary part of the real estate business. Reading other “expert’s” interpretations of the market makes me suspicious of the goal of the writer. Realtors tend to try to toss an optimistic view of the market out most of the time in order to try to garner favor with sellers. The point of this blog is to show what has really been going on in the market area of Haiku and Paia for 2014. The results are dramatically different and these markets’ performance over 2014 is very different.
The front cover our recent printed market report that we just completed. Please reach out directly to us for your personal copy.
2014 Market Summary
Kula’s market is healthy, substantially increasing in value and generally appreciating much faster than Haiku. Haiku’s market is appreciating slowly with a very stagnant market over the million dollar price point.
Haiku Market Stats
The graphs and market stats below are from a little earlier this year as we got caught up with real estate activity and family time later in the year. They are from our Haiku/Kula 2014 End of the Year Market Report. Please click the following link if you would like to view the high resolution PDF of this piece as it is easier to read: Haiku Kula Area Report Brochure.
Active listings High Low Average Median Total Value Days on Market 53 $7,500,000 $419,000 $1,534,145 $1,174,000 $81,309,699 147
Pending 14 $1,875,000 $242,500 $807,755 $639,875 $11,305,749 107
Sold 66 $2,230,000 $160,000 $704,364 $652,500 $46,488,089 169
Kula Market Stats
Active listings 56 $8,900,000 $405,000 $1,819,234 $1,262,500 $101,877,140 179
Pending 4 $1,695,000 $935,000 $1,163,500 $1,017,000 $4,654,000 103
Sold 48 $2,266,000 $250,000 $981,015 $880,000 $47,088,725 178
What is the most startling difference is the market activity over the $1,000,000 price point. Kula has closed 18 properties over $1,000,000 this year-to-date. Haiku has closed 7. Kula presently has 36 active properties over $1,000,000 on the market, or 21 months supply at a market absorption rate of 1.7 homes per month in this price range. Haiku has 29 active properties over $1,000,000, or 43 months supply at a market absorption rate of .67 homes per month.
From the Realtors Association of Maui, year-to-date, Haiku’s average price is up 4% from 2013 and the median is up 10%. Kula’s average price is up 18% and the median is up 36% from 2013.
Given a choice, it appears that buyers looking in the $1,000,000 price bracket and above have gravitated towards the Kula market.
In conclusion, if you are a buyer looking for a great buy over $1,000,000, look in Haiku. There are a lot of great choices available. If you are a seller in Haiku over $1,000,000, expect to wait. Unless you really have property in top-notch condition, priced aggressively, and you are really ready to sell right now, you should not have your property on the market. Only 2 homes have sold since May 2014 over $1,000,000 and there is presently only one in escrow in this price range.
If you are a Kula buyer, be prepared to pay retail. With prices climbing and no new inventory being constructed, you are limited to purchasing an existing home. If you are a Kula seller at any part of the market, now is the time to consider putting your house on the market. The same rules apply though; your house should be in top-notch condition, and if you want to sell quickly, price it at the market value, not ahead of the market.
Just Listed in Haiku
We want to share our newest listing in Haiku, which is 4325 Opana Place. This 3 bed/2 bath on well landscaped acres has some ocean views, is well kept, and includes a great fruit orchard with incredibly tasty citrus trees.
4325 Opana Place (MLS# 363326) proudly offered by The Stice Team for $875,000
15 ‘Ohanas in Haiku & Kula Assisted in 2014 w/Almost $13 Million in Total Sales Volume
2 Sold Success Stories From Earlier this Year
Happy New Year 2015 From the Stice Team!
Christmas came a little early for me this year with my new Massey Ferguson tractor that I just got. I love to farm and to play in the dirt, so please be sure to reach out to me if you are looking to buy or sell these types of properties.
My son Jeremy on the other hand lives in Ka’anapali and focuses on selling resort-type properties and thus his choice of equipment, which he received just before Christmas like me, is more in line with that as you can see below.
Aloha from the Stice Team,Tracy Stice, R(B) 808.281.5411 Tracy@HawaiiLife.com