The Stice Team recently listed 25 Koani Loop (MLS# 350834), a bank-owned/REO vacant lot in Waiolani Mauka, which is a newer subdivision just a couple minutes south of Wailuku Town. 25 Koani Loop, also known as Lot #38, is a corner lot of about 10,000 sq.ft. that is eligible for a two-story home and a 500 sq.ft. cottage should you elect to build these (you are not required to do so).
Waiolani Mauka sits on the slopes of the West Maui Mountains and this particular lot has excellent views of the aforementioned as well as Haleakala and ocean views of both the northern and southern coastlines.
Here is a photo of the lot from the street looking towards the West Maui Mountains – the lot has since been cleared and mowed. It is my thought process that the bank behind the lot is the property boundary between our subject property and the lot that sits above it – a full survey report would dictate the exact property boundaries.
Waiolani Mauku is a well planned community that has fairly strict design guidelines and CC&Rs that help to preserve the overall integrity and appearance of the neighborhood.
Vacant Land Buyers
Most vacant land transactions that are taking place right now are all cash purchases. However, there are a couple of local banks that are making vacant land loans or construction loans, but they generally require at least 50% down payment, so please take this into your financial considerations.
Please reach out to the Stice Team if this lot is of any interest to you – we have the preliminary title report, CC&Rs, and community design guidelines on file and would be happy to share them with you.
Jeremy Stice, R(S)