Lahaina

Honua Kai Resort Real Estate Market Update February 2014

Many Honua Kai owners were in town on Maui last month for the annual owner’s meeting that took place on Wednesday, January 29th in Ka’anapali, and thus, I thought it would be an appropriate time to get my latest Honua Kai real estate market update out for 2014.

I attended the all-day meeting and had some valuable take aways from the meeting. This is an important transition stage for Honua Kai as the developer is about 90% sold out of their inventory, and the HOA itself is growing into its own and learning how to best operate for the mutual success of all. Overall, I think there is a fantastic group of homeowners and volunteers serving the boards and various committees at the resort – I think the future for Honua Kai will continue to be bright.

As a general note on this blog, the sold stats were done late last month as I had the orignal draft of this blog ready to be sent out, but got delayed for various reasons.

I think it’s always awesome to kickstart a blog with an awesome “wow!” shot. This is the actual evening view from Hokulani #825, a 3 bed/3 bath, which I represented my clients on a purchase for late last year at $2.167M. Please see more details on this fine property below, or here: www.Hokulani825.com, as it is now offered for nightly vacation rentals through Hawaii Life.

Recently Sold Honua Kai Resale Properties

Since I completed my last market update for Honua Kai, there have been a total of 7 resale properties that have closed at Honua Kai. As has been the normal trend, the vast majority of these sales have taken place at the lower price echelons at Honua Kai. I think the main reason for this is simply based on what has been offered for sale at Honua Kai as resales, and the fact that it generally takes significantly less time to sell properties on the lower end of the price scale.

You will note from the spreadsheet above that the average DOM (Days on Market including escrow time) for resale properties at Honua Kai is about 163 days; the last data set (see last market update) that I measured last year was about 180 days, but there was an outlier sale that spent 2.5 years on market, and, thus, significantly skewed the figures.

Here are the videos that I have of the resale units that sold during this period. Please keep in mind that these are just amateur videos that I have shot for educational purposes, and some of which were directed for specific clients of mine looking at specific units.

1. Hokulani #937 Video – In the event that you like the floor plan and view plane of this property, I would highly recommend that you consider Konea #919 at $1.299M, as it is extremely similar to this property.

2. Hokulani #223 Video – There is only one studio unit in all of Honua Kai available at this time, which is a resale unit of Hokulani #837, and is a partial ocean view unit listed at $769K.

3. Hokulani #503 Video – Currently, there are a number of developer offerings of true ocean view two bedroom units like this that are priced in the $1.4-$1.7M range. Please feel free to ask me what I think are the strongest values.

Also part of the developer sales below is Konea #604, www.Konea604.com, a two bed/two bath property with outstanding mountain views and striking partial ocean views. Although I did not represent the buyers on this purchase (prior relationship with another local broker), they heavily utilized my blog and video series on Honua Kai to help with their purchasing process. Since their closing, we have since developed a very close relationship as we are now renting this property for them.

Recently Sold Developer Sales

In contrast with the resale properties – the majority of the sales action on the developer side of things took place at the higher price levels. I think the only reasonable thing to attribute this to is that they are close to 90% sold out of their remaining inventory, and the majority of what they have left are higher end two and three bedroom properties.

I did not include the fields for original price, listed price, and Days on Market because all of the developer sales prices match their original and last list prices, and the Days on Market is too hard to accurately measure with the way that they track their inventory.

You will note that the average developer price per square foot sales figure is substantially higher than the resale price per square foot. There are two very important things to take into consideration here:

  1. The first is that the developer is offering 2-3 years of HOA coverage on each one of these back end sales, which would effectively lower the net sales price about $21,000 on the studio unit up to potentially about $125,000 on the three bedroom sale that recorded at $3.649M.
  2. The second is that there is a far higher concentration of true ocean view units selling on the developer sales, whereas only 2 of the resale properties were true full ocean view properties.

Here are the videos I shot of the developer inventory that sold during this term:

2 Exceptional Properties Now Offered for Rent Through Hawaii Life Vacation Rentals

1. Hokulani #825, a three bed/three bath inner courtyard panoramic ocean view unit, is currently available for nightly rentals ranging in price from $650-$1,500 per night, plus taxes and fees depending on the season. Visit the details for this property here, www.Hokulani825.com, or reach out to me directly at SticeVacationRentals@gmail.com as I am the property manager for this residence.

2. Konea #604 is a larger two bed/two bath unit that has one of the most striking views in the resort, in my opinion, with beautifully contrasting panoramic mountain vistas and partial ocean views. This property is available on a nightly rental ranging in price from $299-$700 per night, plus taxes and fees depending on the season.

Visit the details for this property here www.Konea604.com, or reach out to me directly at SticeVacationRentals@gmail.com as I am the property manager for this residence.

Want Hawaii Life Vacation Rentals to Expose Your Property to the World?

In the event that you are a new owner at Honua Kai, or are just looking for a change in your management company, here are three very strong reasons to consider Hawaii Life:

  • International Marketing Exposure – No firm in the entire state of Hawaii even comes close to what Hawaii Life can do to expose your property to the world. HawaiiLife.com is Hawaii’s #1 Real Estate Search Engine and our hit TV series “Hawaii Life” has over 25 million people watching worldwide, and driving buyers and vacation renters to our website.
  • Very Aggressive Management Fees – We offer a very compelling full service program at 20% of gross revenue for select 3 bedroom properties and 25% for almost all other properties at Honua Kai.
  • Exceptional Service – I am the property manager of record at Honua Kai for HawaiiLife.com. I know how to sell this property inside and out, my wife and I live 2 minutes away in Ka’anapali, we live and breath the Ka’anapali resort life on a daily basis. We look to build long lasting relationships with our clients built on trust, respect, and mutual success. We treat your property as if it were our own. Our full service team is here at your service.

4 Resale Properties Under Contract

Currently, there are four pending non-developer sales at Honua Kai. All but one of these properties spent a fair amount of time on the market before going under contract.

  • Hokulani #826 – 1 bed/1 bath 620 sq.ft. mountain view unit listed at $650,000. This property went under contract in 10 days, this demonstrates the value of accurate pricing and demand for entry level units at Honua Kai.
  • Konea #110 – 1 bed/1 bath 730 sq.ft. mountain view unit listed for $729,500. One of the main attractions of these ground floor units is the high ceilings at 11.5ft., and the rental income, which is just off the charts at about $90k annual gross income.
  • Konea #1024 – 1 bed/1 bath 750 sq.ft. mountain view and partial ocean view listed $769,000. The seller of this property paid $700k in 2010 and it is my opinion that this property will close in the mid $700k range.
  • Konea #505 – 2 bed/2 bath 1,315 sq.ft. offered at $1,567,000. I felt that this was one of the best valued true ocean view two bedroom units at the entire resort and, after spending over 600 days on the market, this property is set to close fairly close to the asking price in early next month.

Konea #329 is a beautifully appointed 3 bed/3 bath ocean view unit with a designer furniture package in place that is extremely attractive, this is one of the more attractive developer units still available for sale at $1.97M. This is the same floor plan as the property we are now renting at Hokulani #825, but is about 250 sq.ft. larger.

Prices Going Up on Remaining Developer Inventory For Sale

The developer is raising prices

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on 15 homes on Feb 28 as a pricing strategy to help ignite some sales on these homes – the tactic has clearly worked, as I believe that they have about 10 of the 15 homes now under contract. These are not huge price increases, usually only a couple percent, but the market on Maui is in a very good place and the same can be said about Honua Kai – your time is now.

As I mentioned earlier, the vast majority of the remaining developer inventory are higher priced two bedroom and three bedroom units. There are still three one bedroom plus den developer units for sale that are available in the high $700k range. Here is a video of one of these one bedroom plus den properties: Konea #612 Video.

I have the complete remaining developer inventory list, and work tirelessly on behalf of my buyer clients to really identify what property is going to work best for you based on three primary factors:

1. Lifestyle Needs – What is it that you are really using this property for, and what size and location will work best for your needs?

2. Short Term Cash Flow – I have a very good idea of what all Honua Kai units make in terms of gross rental income when best optimized for marketing and exposure. I also clearly understand all of the costs associated with ownership at Honua Kai.

3. Future Resale Value – Unfortunately, I don’t have a crystal ball, but I have been selling real estate full time throughout the island of Maui for the last 8 years, and I have a very good understanding of market cycles and what specific principles you want to adhere to when selecting a property.

Resale Inventory at Honua Kai

There are a couple resale properties at Honua Kai that are currently on my radar as strong values. Here is the complete list of all resale properties at Honua Kai: Honua Kai Real Estate Gallery.

Konea #701 is likely the top unit in the entire resort, offered at $5.3M. This is a 3 bed/3 bath 2,365 sq.ft. penthouse suite with an additional 1,375 sq.ft. covered lanai

It’s hard to say that the most expensive listing at Honua Kai (Konea #701) above is a strong value, but value can be defined in different ways. There is no question that this is one of the finest resort properties in all of West Maui, and is simply irreplaceable.

Another front line direct oceanfront listing just came on the market yesterday at $3.9M, and this is also a three bedroom unit in Konea #551.

Hokulani #446 is a two bed/two bath 1,100 sq.ft. partial ocean view unit on the northern end of the Hokulani building that I think is a very strong property, and represents value at its current asking price of $1.3M.

As an entry-level value unit, my favorite unit is Konea #516 offered at $695,000. This one bed/one bath unit is 690 sq.ft., and is located on the “sunny side” or southern side of Konea, and has spectacular views of the West Maui mountains and the sun rising from East Maui. There is a water feature on the ground level right below this unit, so I really like the soothing sounds of the water that radiate up into the property as well as serving as an attractive landscape viewpoint. Here is a recent video that I shot of Konea #516.

Whether you are buying or selling Honua Kai real estate, I am the Broker you can trust to promote your interests above all else.

Aloha from Ka’anapali, Maui

Jeremy Stice REALTOR (Broker)
808.281.2178
Stice@HawaiiLife.com

My Blog Series on Honua Kai Condos

Subscribe to my blog feed here: Subscribe to Hawaii Life Real Estate Brokers » Jeremy Stice, R(S) by Email.

  1. Honua Kai Resort in Kaanapali, Maui – Start here, as this blog will provide you with a good overview of the resort including video on its location, and its world class amenities and ownership offerings.
  2. Honua Kai Resort Real Estate For Sale – Kaanapali, Maui Condos For Sale – This post focuses on the inventory actively for sale and where all the units are located.
  3. Honua Kai 3 Bedroom Ocean View Vacation Rental – Featuring panoramic ocean views, year-round sunsets, as well as modern and elegant decor and furnishings.
  4. Honua Kai 2 Bedroom Ocean and Mountain View Vacation Rental – “Sunny side” of Konea with spectacularly contrasting ocean and mountain views.
  5. Where in the World are Honua Kai Resort Condo Owners From? – 43% from California, 18% from Canada, 8% from Washington, get the full scoop here.
  6. August 2013 Market Update Report – My most recent market update report on what is taking place at the Honua Kai Resort.
  7. Honua Kai Resort Mid Year 2013 Market Update – We are beginning to see a clear trend that the resale market has become far more prominent than it has in the past.
  8. Canadian Financing at Honua Kai available with 30% Down Payment – 18% of the owners at Honua Kai, how are they securing these properties?
  9. Honua Kai Rental Income Figures – With some of the strongest returns of any ownership opportunity in Hawaii, Honua Kai deserves your strong consideration for short term cash returns on investment.
  10. New Ocean View One Bedroom Resale Unit Just Listed – Check out this post on my one bedroom best buy in all of Honua Kai.
  11. Honua Kai May 2013 Market Update Report – Read about the new developer price reductions and all the recent market activity down at the resort.
  12. 50 New Price Reductions on Two and Three Bedroom Units at Honua Kai – New developer price reductions announced on April 18, 2103.
  13. Honua Kai March 2013 Market Update Report – There has been a significant increase in the level of sales for two bedroom units at the resort. Read all about it here.
  14. One Bedroom/One Bath Mountain View Unit at Honua Kai Sold for $525,000 – Congratulations to the Kojima Ohana on their recent resale purchase at Honua Kai.
  15. 5 Remaining One Bedroom Plus Den Units for Sale at Honua Kai – They are sold out of developer one bedroom units but check out this video blog for this niche units starting in the high $700k range.
  16. Honua Kai 2 Bedroom/2 Bath Condo Sold a Seller’s Perspective – What our seller client had to say about our team selling their property for a $135,000 short term gain.
  17. 2 Bedroom Ocean View Best Buys at the Honua Kai Resort and Spa – Feb ’13 post on the best ocean view and partial ocean view two bedroom units.
  18. 4 New One Bedroom Listings at Honua Kai – Posted on January 2013 be sure to check out these best buys priced under $550K
  19. Honua Kai January 2013 Market Update – What’s happening in the new year at Honua Kai? Are prices increasing?
  20. Honua Kai HOA Fees Increasing By 10% Effective Feb. 1, 2013 – What are the current fees, what do they cover, and what other costs of ownership are involved?
  21. 25% Down Payment Financing Options at Honua Kai – Get the inside track on leveraging your cash investments at Honua Kai.
  22. Canadian Couple From Vancouver B.C. Purchases a 3 Bedroom Honua Kai Unit for $1,900,000 – Did you know that many of the owners at Honua Kai are from Canada?
  23. Honua Kai November 2012 Market Update – The latest news after a crazy year of selling
  24. Honua Kai January 2012 Update – Why Honua Kai is the hottest deal in town right now
  25. Honua Kai Purchase Process – An owner’s perspective of purchasing and experiencing the resort.
  26. 35% Price Reductions on Condos For Sale at Honua Kai Resort – Read about how the developer dramatically slashed the prices at Honua Kai and where some of the best deals are at.
  27. Price Reductions on Honua Kai Resort One Bedroom UnitsVideo blog on 1-bedroom units that are Screaming Deals.
  28. Honua Kai Resort in Kaanapali – Best Two Bedroom DealsVideo blog on 2-bedroom units that are Screaming Deals.

Deal – Lowest Priced Honua Kai Resort Condo Just Listed for $619,900

Honua Kai Hokulani #528 was just recently listed at the Honua Kai Resort and Spa for $619,900 making it the lowest priced active listing in all of Honua Kai Resort. This type of property represents the entry level of what is available at Honua Kai and also one of the strongest cash and cash returners when current vacation rental income is taking into account minus current operating costs. See all listing details on Hokulani #528.

The verdant West Maui Mountains, also known as Mauna Kahalawai “the meeting of the waters” to geologists, and to Hawaiians as Mauna Komohana, serve as the backdrop on the mauka (mountain) or backside of the Honua Kai Resort. Hokulani #528 has an excellent view of Mauna Kahalawai from its 165 sq.ft.

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covered lanai.

I originally blogged about Hokulani #528 in January of this year when the owner put it up for sale along with 3 other mountain view units he owned – 4 New One Bedroom Mountain View Units at Honua Kai. He sold 3 of the 4 properties, but began to see the market rising and decided to pull #528 off the market for a bit.

I anticipate that his train of thought will work well as shortly after I closed the 3rd of the 4 properties at $525,000 another one bedroom mountain view unit of the same square footage, Hokulani #724, closed for $610,000.

It is important to point out that the buyer of Hokulani #724 paid a premium as they obtained owner financing rather than conventional financing and there are typically a premium on the sales because Sellers are at a risk by carrying the paper on the property.

A recent pic of me biking in the mountains above our home in Ka’anapali and also overlooking Honua Kai; this is one of the many aspects that my wife, Megan, and I love about living our Hawaii Life in Ka’anapali

I represented Craig Kojima and his ohana on the recent purchase of Hokulani #728 (an identical unit 2 floors up from #528 earlier this year) for $525,000 and the market has continued to climb on entry level units at Honua Kai. See what Craig had to say about his purchasing experience in working with our team: One Bedroom/One Bath Mountain View Unit at Honua Kai Sold for $525,000.

Why Would You Want to Invest in a Hokulani Condo?

Rental income figures at Honua Kai Resort are becoming progressively better. (Check out a past post here: Honua Kai Rental Income Figures.) No, you are not going to get the property at rock bottom prices like the owner paid for this property and at the price when the owner listed the property, but you are still getting in to Honua Kai at an excellent time.

Take a leap of faith and know that you are in good hands and that…

There is far less uncertainty in the real estate market now as there was in 2011 when the prices at Honua Kai were at their lowest. Many real estate pundits advise to get the entry level unit or home in an exceptional condo or neighborhood rather than owning the best property in an inferior area. Honua Kai is clearly an exceptional ownership opportunity.

…the real question that you need to ask yourself is….

…why wouldn’t I invest in Honua Kai today before…

…the sun sets and…

…the light of opportunity goes out

I am here to help keep the light on for you. Reach out today and let me help you make it happen.

Aloha from Ka’anapali, Maui,

Jeremy Stice REALTOR (Broker)
808.281.2178
Stice@HawaiiLife.com

My Blog Series on Honua Kai Condos

Subscribe to my blog feed here: Subscribe to Hawaii Life Real Estate Brokers » Jeremy Stice, R(S) by Email.

  1. Honua Kai Resort in Kaanapali, Maui – Start here, as this blog will provide you with a good overview of the resort including video on its location, and its world class amenities and ownership offerings.
  2. Honua Kai Resort Real Estate For Sale – Kaanapali, Maui Condos For Sale – This post focuses on the inventory actively for sale and where all the units are located.
  3. Where in the World are Honua Kai Resort Condo Owners From? – 43% from California, 18% from Canada, 8% from Washington, get the full scoop here.
  4. August 2013 Market Update Report – My most recent market update report on what is taking place at the Honua Kai Resort.
  5. Honua Kai Resort Mid Year 2013 Market Update – We are beginning to see a clear trend that the resale market has become far more prominent than it has in the past.
  6. Canadian Financing at Honua Kai available with 30% Down Payment – 18% of the owners at Honua Kai, how are they securing these properties?
  7. Honua Kai Rental Income Figures – With some of the strongest returns of any ownership opportunity in Hawaii, Honua Kai deserves your strong consideration for short term cash returns on investment.
  8. New Ocean View One Bedroom Resale Unit Just Listed – check out this post on my one bedroom best buy in all of Honua Kai.
  9. Honua Kai May 2013 Market Update Report – Read about the new developer price reductions and all the recent market activity down at the resort.
  10. 50 New Price Reductions on Two and Three Bedroom Units at Honua Kai – New developer price reductions announced on April 18, 2103.
  11. Honua Kai March 2013 Market Update Report – There has been a significant increase in the level of sales for two bedroom units at the resort. Read all about it here.
  12. One Bedroom/One Bath Mountain View Unit at Honua Kai Sold for $525,000 – Congratulations to the Kojima Ohana on their recent resale purchase at Honua Kai.
  13. 5 Remaining One Bedroom Plus Den Units for Sale at Honua Kai – They are sold out of developer one bedroom units but check out this video blog for this niche units starting in the high $700k range.
  14. Honua Kai 2 Bedroom/2 Bath Condo Sold a Seller’s Perspective – What our seller client had to say about our team selling their property for a $135,000 short term gain.
  15. 2 Bedroom Ocean View Best Buys at the Honua Kai Resort and Spa – Feb ’13 post on the best ocean view and partial ocean view two bedroom units.
  16. 4 New One Bedroom Listings at Honua Kai – Posted on January 2013 be sure to check out these best buys priced under $550K
  17. Honua Kai January 2013 Market Update – What’s happening in the new year at Honua Kai? Are prices increasing?
  18. Honua Kai HOA Fees Increasing By 10% Effective Feb. 1, 2013 – What are the current fees, what do they cover, and what other costs of ownership are involved?
  19. 25% Down Payment Financing Options at Honua Kai – Get the inside track on leveraging your cash investments at Honua Kai.
  20. Canadian Couple From Vancouver B.C. Purchases a 3 Bedroom Honua Kai Unit for $1,900,000 – Did you know that many of the owners at Honua Kai are from Canada?
  21. Honua Kai November 2012 Market Update – The latest news after a crazy year of selling
  22. Honua Kai January 2012 Update – Why Honua Kai is the hottest deal in town right now
  23. Honua Kai Purchase Process – An owner’s perspective of purchasing and experiencing the resort.
  24. 35% Price Reductions on Condos For Sale at Honua Kai Resort – Read about how the developer dramatically slashed the prices at Honua Kai and where some of the best deals are at.
  25. Price Reductions on Honua Kai Resort One Bedroom UnitsVideo blog on 1-bedroom units that are Screaming Deals.
  26. Honua Kai Resort in Kaanapali – Best Two Bedroom DealsVideo blog on 2-bedroom units that are Screaming Deals.

Honua Kai Resort & Spa Market Update – Resort Builds Considerable Momentum for the Future

As Hawaii braced for Tropical Storm Flossie to hit shores on July 30th, I got started on my August 2013 Honua Kai real estate market update. I live in Ka’anapali about a mile away from Honua Kai and we definitely experienced some higher wind conditions (I read they topped 50 mph at the peak), very eerie and interesting yellow and brown hues in the sky, and the blessing of rainfall.

In case you didn’t catch my last update, please sure to view my Mid Year Market Update at Honua Kai published last month. Since my last update, there have been a total of 8 sales at the resort ranging in price from $599k-$2,102,450. There are currently 2 resale properties under contract and I would venture to say about 15 developer units under contract.

I just recently represented Peter and Tracy Konidis of Ontario, Canada on their purchase of Hokulani #248 (above photo), a two bedroom/two bath partial ocean view unit for $975,000

What Has Sold at Honua Kai Recently?

As I mentioned earlier, there have been 8 sales in Honua Kai in roughly the last 5 weeks when I did my last market update. Year to date, there have been 49 sales at Honua Kai – 16 of the 49, or 33%, of the units have been resales compared to developer sales.

  • Hokulani #337 – a studio/one bath 595 sq.ft. bath partial ocean view closing on 7.2.13 for $599,900.
  • Konea #210 – a one bed/one bath 730 sq.ft. mountain view unit with the slightest glimpse of the ocean sold for $665,000 on 7.24.13 to an all cash buyer. This resale property spent about 3 weeks on the market before going under contract and sold for 98.5% of the original asking price. This closing clearly shows upward momentum on pricing trends at Honua Kai as the unit 4 floors up at 610 closed for $647,500 on 5.28.13. Konea #610 had more of an ocean view because of its elevation, which allowed those to look over Duke’s towards the ocean and Lanai.
  • Konea #315 – a partial ocean view (interior courtyard so the partial ocean view was pretty good) studio/one bath 595 sq.ft. unit closed on 6.24.13 for $669,000. This was a developer unit and will be one of the last developer studio unit closings. Konea #215 just went under contract a few days ago.
  • Hokulani #248 – (photo above) a two bed/two bath 1,100 sq.ft. partial ocean view closing for $975,000 on 7.23.13. I represented Canadian buyers from Ontario on this developer sale purchase.
  • Hokulani #211 – (photo below) a two bed/two bath 1,100 sq.ft. partial ocean view (interior courtyard) closing for $1,285,000 on 6.24.13. I represented the buyers from California on this developer sale.
  • Konea #504 – a two bed/two bath 1,250 sq.ft. partial ocean view developer sale sold for $1,119,900 on 7.16.13. There are only a couple of remaining two bedroom developer units offering partial ocean views in the low $1m range.
  • Hokulani #605 – a two bed/two bath 1,100 sq.ft. true ocean view developer sale closing for $1,475,000 on 7.3.13.
  • Hokulani #729 – a three bed/three bath 1,600 sq.ft. ocean view sale closing for $2,102,450 on 7.22.13.

2013 Honua Kai Resale Activity (YTD)

I included the % sold price vs original and the last listed price before the property went under contract because I think it is very interesting to see how this correlates with overall days on market.

The above spreadsheet is the compilation of 16 resale units that have taken place thus far in 2013. Click the following link and then once again on the next page for the full spreadsheet to open a new tab Honua Kai Sold Resale Spreadsheet

The real outlier here was the sale of Hokulani #218, originally priced at $1,225,000 and spending literally over 2.5 years on the market before it sold for $930,000; clearly the numbers would have been much closer were it not for this one outlier.

The DOM is Days on Market; our MLS includes the escrow period as part of the overall days on market. For financed transactions it is a safe bet that there was about 45-60 days spent under contract that contributed to the overall DOM figure.

Lastly, I wanted to point out that the cash sales in the resale market (YTD) have been more prominent at 62.5% of total sales as opposed to the developer inventory at 45% of the sales.

Honua Kai Historical Sales

With one closing taking place in 2008, the majority of the sales at the resort took place during 2009 and 2010. I thought I would include the following statistics that I compiled to illustrate the emerging prominence of the resale market at Honua Kai with the 2013 YTD stats markedly higher than any other period.

I would expect this trend to continue with a very limited supply of developer inventory being available. As of today, there has not been one single short sale or bank owned sale at Honua Kai – this is not to say that a few owners have not lost money when selling, but there has never been a sale disclosing the aforementioned status.

What’s Under Contract

About 15 developer units are under contract right now; this number is dwindling as the inventory at Honua Kai is shrinking and the remaining units are at higher price points, which historically sell at a slower pace. One resale property under contract:

  • Konea #224 – a one bed/one bath unit of 750 sq.ft. with a mountain view currently listed at $649,000. The seller of this property paid $553,800 for this property in late 2010, so I am thinking that they will likely be making a profit on this sale. This property went under contract after about 5 months on the market.

In & Out of Contract

  • Konea #544 – the largest one bedroom floor plan at 780 sq.ft. with a pretty nice ocean view on the northern side of the Konea (North) tower has been in and out of contract a couple times now. I featured this unit with a full length video in a previous post New Ocean View One Bedroom Resale Unit Just Listed.

Konea #818 is a new two bedroom resale listing offered at $1.295M. This unit sits on the southern end of the Konea (North Tower). It has tremendous mountain views, morning sun light as it faces east, and a partial ocean view, as you can see here.

What’s New on the Market?

  • Hokulani #244 – a one bed/one bath partial ocean view listed for $710,000. This is currently the lowest priced one bedroom unit in all of Honua Kai. There have been offers on this property, but it is still available for sale. I have a video on file for the location of this unit, if you would like to see, please reach out to me directly. This property is definitely one of the strongest values in all of Honua Kai and I would not be surprised if it goes under contract any day.
  • Hokulani #242 – a one bed plus den/one bath unit of 950 sq.ft. with a partial ocean view offered for $825,000. This is the only resale unit of this type and the developer only has a few more too. This is a great alternative for those who want a larger one bedroom unit that can comfortably sleep 6, but don’t want to pay the price for.
  • Konea #818 – a two bed/two bath partial ocean view unit listed for $1,295,000. Buyers will find value in that this is the lowest two bedroom unit in all of the Konea (North Tower), and because of its elevation, it does have a view of the ocean and the island of Lanai.

I represented Keith and Lynette Carey on their recent purchase of Hokulani #211 an inner courtyard partial ocean view unit (photo above) for $1,285,000. There are only a select number of these developer partial ocean view units available starting in the low $1M range.

What’s Actively For Sale at Honua Kai?

There are close to 80 unsold developer units still available for sale with the majority of the units being two and three bedroom properties starting in the low $1M range up to just under $4M for oceanfront 3 bedroom units. Please reach out to me directly for all developer inventory actively and not actively on the market at this time.

Here is the complete list of all active resale inventory as well as a couple developer units, which provide a good representation of their remaining stock: Honua Kai Real Estate Gallery.

Pricing Trends and Predictions

  • It is my personal prediction that we are going to see an increased number of the inner courtyard 3 bedroom ocean view developer units go under contract as they represent some of the strongest values amongst the remaining developer inventory. I just recently helped a client secure a unit like this in the low $2M range.
  • I do think if the developer wants to see the same rate of liquidity on their remaining inventory that they are going to need to reduce prices most notably on 2 bedroom ocean view units in the Konea tower. I wouldn’t be surprised if they decide to do this, but buyers should be aware that even if they decide to do this it is very unlikely to be at the same level that they cut prices in 2011 and in early 2013.
  • Units at the entry level of the price spectrum ($600k-$800k) at Honua Kai will continue to appreciate at the quickest rates from rock bottom prices in 2011 and 2012.
  • I think that the overall level of transactions at Honua Kai is going to taper off just because of the lack of inventory, but we are going to continue to see an emergent resale market. Lending rates are still exceptionally good, rental returns at Honua Kai are getting progressively better, and there are a number of owners who now have equity in their properties and are able to sell them for a profit.

There are buyers who have felt that that they have missed the boat with the earlier price reductions and in terms of purchasing at rock bottom prices, I think this is accurate. However, I think there is much less uncertainty at Honua Kai now than there previously was due to:

  • the Maui market, as a whole, is much better
  • the rental returns are much better
  • the resort’s title including “Spa” will actually come to fruition sometime later this month as it opens its doors
  • the resort is just glowing with positive reviews and has built considerable momentum for the future

Aloha from Ka’anapali, Maui,

Jeremy Stice REALTOR (Broker)
808.281.2178
Stice@HawaiiLife.com

My Blog Series on Honua Kai Condos

Subscribe to my blog feed here: Subscribe to Hawaii Life Real Estate Brokers » Jeremy Stice, R(S) by Email.

  1. Honua Kai Resort in Kaanapali, Maui – Start here, as this blog will provide you with a good overview of the resort including video on its location, and its world class amenities and ownership offerings.
  2. Honua Kai Resort Real Estate For Sale – Kaanapali, Maui Condos For Sale – This post focuses on the inventory actively for sale and where all the units are located.
  3. Honua Kai Resort Mid Year 2013 Market Update – We are beginning to see a clear trend that the resale market has become far more prominent than it has in the past.
  4. Canadian Financing at Honua Kai available with 30% Down Payment – 18% of the owners at Honua Kai, how are they securing these properties?
  5. Honua Kai Rental Income Figures – With some of the strongest returns of any ownership opportunity in Hawaii, Honua Kai deserves your strong consideration for short term cash returns on investment.
  6. New Ocean View One Bedroom Resale Unit Just Listed – check out this post on my one bedroom best buy in all of Honua Kai.
  7. Honua Kai May 2013 Market Update Report – Read about the new developer price reductions and all the recent market activity down at the resort.
  8. 50 New Price Reductions on Two and Three Bedroom Units at Honua Kai – New developer price reductions announced on April 18, 2103.
  9. Honua Kai March 2013 Market Update Report – There has been a significant increase in the level of sales for two bedroom units at the resort. Read all about it here.
  10. One Bedroom/One Bath Mountain View Unit at Honua Kai Sold for $525,000 – Congratulations to the Kojima Ohana on their recent resale purchase at Honua Kai.
  11. 5 Remaining One Bedroom Plus Den Units for Sale at Honua Kai – They are sold out of developer one bedroom units but check out this video blog for this niche units starting in the high $700k range.
  12. Honua Kai 2 Bedroom/2 Bath Condo Sold a Seller’s Perspective – What our seller client had to say about our team selling their property for a $135,000 short term gain.
  13. 2 Bedroom Ocean View Best Buys at the Honua Kai Resort and Spa – Feb ’13 post on the best ocean view and partial ocean view two bedroom units.
  14. 4 New One Bedroom Listings at Honua Kai – Posted on January 2013 be sure to check out these best buys priced under $550K
  15. Honua Kai January 2013 Market Update – What’s happening in the new year at Honua Kai? Are prices increasing?
  16. Honua Kai HOA Fees Increasing By 10% Effective Feb. 1, 2013 – What are the current fees, what do they cover, and what other costs of ownership are involved?
  17. 25% Down Payment Financing Options at Honua Kai – Get the inside track on leveraging your cash investments at Honua Kai.
  18. Canadian Couple From Vancouver B.C. Purchases a 3 Bedroom Honua Kai Unit for $1,900,000 – Did you know that many of the owners at Honua Kai are from Canada?
  19. Honua Kai November 2012 Market Update – The latest news after a crazy year of selling
  20. Honua Kai January 2012 Update – Why Honua Kai is the hottest deal in town right now
  21. Honua Kai Purchase Process – An owner’s perspective of purchasing and experiencing the resort.
  22. 35% Price Reductions on Condos For Sale at Honua Kai Resort – Read about how the developer dramatically slashed the prices at Honua Kai and where some of the best deals are at.
  23. Price Reductions on Honua Kai Resort One Bedroom Units – Video blog on 1-bedroom units that are Screaming Deals.
  24. Honua Kai Resort in Kaanapali – Best Two Bedroom Deals – Video blog on 2-bedroom units that are Screaming Deals.

Mid-Year Market Update for Honua Kai Resort (June 2013)

During the first half of 2013 there there have 42 sales at the Honua Kai Resort and Spa year to date – 27 of these sales were original developer units. In 2012, there were a total of 83 sales – 80 of these sales were original developer units.

We are beginning to see a clear trend that the resale market has become far more prominent than it has in the past. Sales for this year are so far on track with those of last year, but it will be interesting to see how many of the developer contracts that are currently in escrow actually close this year.

There have been a total of 17 sales at Honua Kai since my last market update at Honua Kai: Honua Kai Real Estate Market Update May 2013. The lowest closing of 2013 was $419,900, the high was $4,450,000, the average sold price was $1,072,000, and the median was $775,000.

Honua Kai Sales Since May 1, 2013

As I mentioned above, there have been a total of 16 sales at Honua Kai since my last market update. 10 of the 16 sales were original developer units. Below is a list of all the closings during this time period:

  • Konea #930 – 1bed/1bath, 690 sq.ft. mountain view unit closed for $569,900 on 5.17.30 – all cash developer sale.
  • Konea #238 – 1bed/1bath, 615 sq.ft. mountain view unit closed for $599,900 on 5.17.30 – all cash developer sale.
  • Hokulani #724 – 1bed/1bath, 620 sq.ft. mountain view unit closed for $610,000 on 6.7.30 – this was a resale unit involving seller financing. I think it was a very good idea for the seller to carry the paper on this property considering that the most recent sale of a comparable unit at the time was the one that I sold for $525,000. I think it would have been very hard for the buyer to obtain the appraisal value that they would have needed in order to complete conventional financing. A few appraisers are catching on to the fact that we are in a rising market, but, unfortunately, not all.
  • Konea #610 – 1bed/1bath, 730 sq.ft. partial ocean view unit closed for $647,500 on 5.28.13 – an all cash transaction on a resale unit.
  • Konea #231 – a partial ocean view 580 sq.ft. studio that closed for $669,900 on 5.31.13 – developer sale involving conventional financing.
  • Konea #331 – a partial ocean view 580 sq.ft. studio that closed for $679,900 on 6.10.13 – developer sale involving conventional financing.
  • Hokulani #422 – a mountain view two bedroom/two bath unit 1,080 sq.ft. unit that closed for $850,000 on 5.1.13 – this was a resale unit and the seller made an incredible profit considering that they paid $510,000 for this property in mid 2011 which coincided with the large developer price reductions at the time. Timing and market conditions is everything in real estate.
  • Konea #218 – a mountain view unit with the slightest glimpse of the the ocean of 1,230 sq.ft. closing for $930,000 on 5.21.13 – this was a resale unit that sold to an all cash buyer. This property was on the market for almost 3 years in total and the seller originally paid $956,750 for this property in the spring of 2010. They originally priced the unit at $1,225,000 which illustrates the proven trend that initial pricing accuracy is of utmost importance.
  • Hokulani #112 – a partial ocean view two bedroom/two bath unit of 1,100 sq.ft. closing for $949,900 on 6.7.13 – this was a developer sale involving conventional financing.
  • Hokulani #510 – a partial ocean view two bedroom/two bath unit of 1,100 sq.ft. closing for $989,000 on 6.6.13- this was a developer sale involving an all cash purchase.
  • Konea #404 – a two bedroom/two bath partial ocean view unit of 1,250 sq.ft. closing for $1,099,900 on 6.14.13- this was a developer sale involving conventional financing.
  • Hokulani #536 – a two bedroom/two bath partial ocean view unit of 1,240 sq.ft. closing on $1,100,00o on 6.7.13 – this was an all cash resale transaction. I featured this property in a previous video blog: Honua Kai 2 Bedroom Partial Ocean View Unit Falling Out of Escrow. The seller paid $1,146,350 for the property in early 2009, but I think that they actually ended up a lot better than many Honua Kai sellers who bought at this higher price level during this time period would be if they had to sell now.
  • Konea #109 – a two bedroom/two bath inner courtyard ground floor unit of 1,315 sq.ft. closing for $1,225,000 on 5.15.13 – this was a resale unit involving conventional financing. The sellers of this unit took a really huge financial hit and I really feel for them as they paid $1,650,750 in the spring of 2010. This illustrates the point I made about the sale Hokulani #536 above.
  • Hokulani #745 – a two bedroom/two bath ocean view unit closing for $1,225,000 on 5.31.13 – this was a resale unit closing to an all cash buyer. Once again, I feel really bad for this seller as they took a huge hit by paying $1,771,350 in early 2009.
  • Hokulani #211 – a two bedroom/two bath inner courtyard partial ocean view (see pic above) of 1,100 sq.ft. closing for $1,285,000 on 6.24.13. This was a developer sale and I represented the buyer on this transaction involving conventional financing as they contacted me after reading my extensive blog series at Honua Kai.
  • Hokulani #549 – a two bedroom/two bath 1,100 sq.ft. ocean view unit closing for $1,340,000 on 6.10.13 – this was a developer sale involving an all cash buyer.
  • Konea #729 – a 3 bedroom/3 bath unit of 1,610 sq.ft closing for $2,125,000 on 5.17.13 – this was a developer sale involving conventional financing. I’m sure my clients who purchased Hokulani #629 for $1,900,000 are feeling pretty good about their purchase with this recent closing: Canadian Couple From Vancouver B.C. Purchases a 3 Bedroom Honua Kai Unit for $1,900,000.

Observations from 15 Resale Units YTD

I am only going to discuss this trend for the 2013 resale properties as all of the developer units have recorded at their asking prices with 2 years of HOA fees being covered by means of a cash credit at closing to be applied to all allowable buyer closing costs.

For the year to date sales in 2013, the highest days on market for a property was 916 days on market (see Konea #218 above under closings), the lowest was 52 days on market, the average was 188 days on market, and the median was 105 days on market. All of these properties include the escrow time period so figure 45-60 days for your typical escrow with a purchase involving financing.

Sellers are getting on average 93.57% of sold price versus the last listed price before the property goes under contract. Contrast this with 91.71% of sold price versus the original listed price of the property, there were only two properties of this group that actually had price reductions before going under contract.

Really the only unit that threw of the listed price vs. original price illustration was Konea #218, which was originally listed at $1,225,000 and closed for $930,000 after almost 3 years on the market. I tossed the sale of Konea #610 from this sample set because they actually increased their listed price from $649,000 to $669,750 and eventually closed at $647,500.

Cash vs. Financed Transactions in 2013

  • 27 Developer Sales – there were 11 all-cash transactions and 16 transactions that involved conventional financing.
  • 15 Resale Sales – there were 9 all-cash transactions, 5 financed transactions, and one seller finance transaction.

In conclusion, the split between cash and financed transactions in all of Honua Kai 2013 YTD is roughly 48% cash and 52% financing.

2 Resale Units Under Contract Right Now

As of today, there are currently two resale one bedroom units currently under contract at this time.

  • Konea #224 – a one bedroom/one bathroom unit of 750 sq.ft. with a mountain view currently listed at $649,000. The seller of this property paid $553,800 for this property in late 2010, so I am thinking that they will likely be making a profit on this sale. This property went under contract after about 5 months on the market.
  • Konea #210 – a one bedroom/one bathroom unit of 730 sq.ft. with a mountain view currently listed at $675,000. The seller of this property paid $676,450 in the spring of 2010, so it is likely that they are loosing some money on their investment after closing costs. I have a client who purchased Konea #410 (2 floors up from this unit) for a little over $500k right after they did the first round of major developer price reductions at Honua Kai in the summer of 2011. Furthermore, Konea #610 closed at the end of last month at $647,500. Timing is everything in real estate.

The picturesque mountain view from Konea #110

Newest Listings at Honua Kai

The developer input about 10 of their existing inventory into the MLS, but I won’t count these as new listings as they have been on the market for a while.

  • Konea #110 – a 1bed/1bath 730 sq.ft. ground floor mountain view unit pictured above listed for $729,500
  • Hokulani #533 – a studio ocean view unit of 583 sq.ft. listed for $738,000

For all of the resale units actively for sale as well as a number of the developer units please visit my Honua Kai Real Estate Gallery.

Price Reductions at Honua Kai

The outstanding view from the living room of Hokulani #741

The sellers of Hokulani #741 have reduced their price from $1,985,000 to its present listing price of $1,830,000. This is a larger two bedroom/two bath unit of 1,320 sq.ft. and has an outstanding floor plan which is quite rare in the resort, but allows it to have absolutely outstanding views from the kitchen, living area, and outdoor covered lanai which is about 500 sq.ft.

Recent Honua Kai Articles Since My Last Market Update

Services as Buyer’s Agent

Please do reach out to me regarding any questions at Honua Kai. I have the complete list of all available developer inventory, I have many videos of units actively for sale both resales and developer inventory, and I provide excellent service to all of my buyer clients in terms of thorough education and solid representation.

Please do read a recent testimonial from a buyer client of mine who purchased luxury home in Launiupoko just outside of Lahaina town: Launiupoko Estate Property Just Sold for $2,975,000 in West Maui.

Honua Kai Sellers

I have done extensive market research on Honua Kai and feel very confident in my ability to pinpoint very accurate values for your property. Maybe you would like to consider selling your unit to transition to another property at Honua Kai, or to accomplish other goals? I can help you get there.

There is no agent and brokerage firm that is going to offer you more international exposure, precise knowledge of the resort, and attention to detail and service to get the job done.

The buyer testimonial above is from an individual like the 15 million others who are watching our hit TV series “Hawaii Life” on HGTV and driving our web exposure through the roof. With an average of 270,000 web browsers and potential buyers each month, no firm even comes close to our global exposure.

Aloha from Maui,

Jeremy Stice REALTOR (Broker)
808.281.2178
Stice@HawaiiLife.com

My Blog Series on Honua Kai Condos

  1. Honua Kai Resort in Kaanapali, Maui – Start here, as this blog will provide you with a good overview of the resort including video on its location, and its world class amenities and ownership offerings.
  2. Honua Kai Resort Real Estate For Sale – Kaanapali, Maui Condos For Sale – This post focuses on the inventory actively for sale and where all the units are located.
  3. Canadian Financing at Honua Kai available with 30% Down Payment – 18% of the owners at Honua Kai, how are they securing these properties?
  4. Honua Kai Rental Income Figures – With some of the strongest returns of any ownership opportunity in Hawaii, Honua Kai deserves your strong consideration for short term cash returns on investment.
  5. New Ocean View One Bedroom Resale Unit Just Listed – check out this post on my one bedroom best buy in all of Honua Kai.
  6. Honua Kai May 2013 Market Update Report – Read about the new developer price reductions and all the recent market activity down at the resort.
  7. 50 New Price Reductions on Two and Three Bedroom Units at Honua Kai – New developer price reductions announced on April 18, 2103.
  8. Honua Kai March 2013 Market Update Report – There has been a significant increase in the level of sales for two bedroom units at the resort. Read all about it here.
  9. One Bedroom/One Bath Mountain View Unit at Honua Kai Sold for $525,000 – Congratulations to the Kojima Ohana on their recent resale purchase at Honua Kai.
  10. 5 Remaining One Bedroom Plus Den Units for Sale at Honua Kai – They are sold out of developer one bedroom units but check out this video blog for this niche units starting in the high $700k range.
  11. Honua Kai 2 Bedroom/2 Bath Condo Sold a Seller’s Perspective – What our seller client had to say about our team selling their property for a $135,000 short term gain.
  12. 2 Bedroom Ocean View Best Buys at the Honua Kai Resort and Spa – Feb ’13 post on the best ocean view and partial ocean view two bedroom units.
  13. 4 New One Bedroom Listings at Honua Kai – Posted on January 2013 be sure to check out these best buys priced under $550K
  14. Honua Kai January 2013 Market Update – What’s happening in the new year at Honua Kai? Are prices increasing?
  15. Honua Kai HOA Fees Increasing By 10% Effective Feb. 1, 2013 – What are the current fees, what do they cover, and what other costs of ownership are involved?
  16. 25% Down Payment Financing Options at Honua Kai – Get the inside track on leveraging your cash investments at Honua Kai.
  17. Canadian Couple From Vancouver B.C. Purchases a 3 Bedroom Honua Kai Unit for $1,900,000 – Did you know that many of the owners at Honua Kai are from Canada?
  18. Honua Kai November 2012 Market Update – The latest news after a crazy year of selling
  19. Honua Kai January 2012 Update – Why Honua Kai is the hottest deal in town right now
  20. Honua Kai Purchase Process – An owner’s perspective of purchasing and experiencing the resort.
  21. 35% Price Reductions on Condos For Sale at Honua Kai Resort – Read about how the developer dramatically slashed the prices at Honua Kai and where some of the best deals are at.
  22. Price Reductions on Honua Kai Resort One Bedroom Units – Video blog on 1-bedroom units that are Screaming Deals.
  23. Honua Kai Resort in Kaanapali – Best Two Bedroom Deals – Video blog on 2-bedroom units that are Screaming Deals.

Launiupoko Estate Property Just Sold for $2,975,000 in West Maui

I am very pleased to congratulate my clients, Hans and Margit Kopecky of San Fransisco, CA., on their recent purchase of 51 Awaiku St. in Launiupoko (pictured below). Hans and Margit are wonderful and kind people; I have thoroughly enjoyed getting to know them better throughout this process. Please read the details about their experience towards the end of this post.

51 Awaiku St. is a 4 bed/4.5 bath home of 3,600 sq.ft. on a little over an acre of land that was just recently completed by Greg Brown Development Company

They purchased a fantastic residence with a great floor plan, top-of-the-line materials and finishes, was built with the highest standard of craftsmanship, and has outstanding views, as you can see.

This property was the main house portion of a two unit residential condominium property regime; this is not a condominium in the sense that you commonly think of it and I think my dad and business partner, Tracy Stice, best sums it up here in a previous post: What is a Residential Condo in Hawaii?

Living and Loving the Launiupoko Life

Launiupoko is an agricultural zoned residential community, so throughout the subdivision you will find all sorts of palm tree farms, flower farms and gardens, people raising horses and goats, chickens for organic eggs, etc.

Here is a video of the beach park that I shot back in 2011 – please excuse my dialogue and shaky camera work, I have gotten a lot better at both of these things since this time – Hans and Margit found this video on YouTube when doing some research on the area.

This is a very nice contrast to many of the other higher end communities in West Maui which simply do not permit these elements of the Maui life. My soon-to-be-wife, Megan, and I are thinking about purchasing a home in Launiupoko as it reminds me of where I grew up in Haiku with all the agriculture, but it is close to all the attractions that we love about West Maui.

A picture of me SUP surfing on at Launiupoko Beach Park about a month ago during a recent southwest swell. This is about as big as the surf gets at this break and is normally much smaller, which is great for kids and those who are just learning to surf.

There is also a really nice walking trail right below Hans and Margit’s house called the Honokohau Ditch Trail that extends from Launiupoko stream on the southern end all the way to Kauaula Streem, which is just past the Puunoa phase (the only gated section) of Launiupoko on the northern end. The trail is about two miles long in total length and is a great place to enjoy the sunshine and beautiful views.

Also noteworthy about Launiupoko is that ocean, outer island, and mountain views are simply breathtaking and I would argue that they are the most dramatic in all of Maui. I can’t think of a better spot to watch the sunset from than at home like Hans and Margit purchased.

What is Actively For Sale in Launiupoko?

Currently, there are 19 properties in Launiupoko with livable structures already constructed on them: Launiupoko Homes for Sale. About half of the properties listed are cottages, which are a maximum of 1,000 square feet of living area due to the County of Maui Agricultural Zoning laws which mandate this.

Many of these cottages also contain outdoor living area by means of covered lanais or decks, which adds substantial functional living area, but is not calculated in the overall square footage requirement.

1. Iliahi Way 54 A is the main house portion of this CPR property and is a 4 bed/4 bath 3,300 sq.ft. home on a little over 2 acres offered $2,995,000.

Iliahi Way 54 A MLS#354828

This home was also built by Greg Brown and should be finished later this winter, likely around November. This home is also extremely well built, but will have more of a rustic cabin-like design and finish to it.

2. 51 Awaiku St. Unit B is currently an active construction site directly below the home that I just represent the Kopeckys on. Once built out, this structure will be a 2 bed/2 bath of 1,000 sq.ft. on 1 acre of land listed for $1,595,000.

51 Awaiku St. Unit B MLS#352912

This farm dwelling features include a spacious, open single level floor plan taking advantage of the panoramic and unobstructable ocean views and the silhouettes of Lanai and Molokai. There will be a large living room, imperial plaster, granite countertops, mahogany wood through-out, and a large custom pool with spa. The property will be surrounded by lush landscaping and tropical palms to enhance the very best of Maui living.

If you don’t see a residence here maybe you want to consider building a custom home. Should this be the case, there are 11 vacant land listings currently for sale: Launiupoko Vacant Land for Sale.

Global Exposure of HawaiiLife.com – Testimonial

“Living in the San Francisco Bay Area is not bad at all, but after running a successful distribution company for more than 35 years, retirement planning started to come to mind, and after spending multiple vacations over the years on the Hawaiian islands, especially on Maui, it became clear that paradise was only a decision away.

Watching with interest House Hunters International occasionally on the HGTV channel, we did not miss one segment of “Hawaii Life” once they started this new segment about real estate on the Hawaiian Islands. Signing on their website www.HawaiiLife.com allowed me to have access to hundreds of properties for sale. After “browsing” for a few months, the time seemed right to do the next step.

We made contact with one of Hawaii Life’s customer representatives expressing interest in properties on Maui’s West side and within 1 hour we got contacted by Jeremy Stice, who is a full time real estate broker with Hawaii Life, living in Ka’anapali specializing in West Maui real estate. We went over criteria what we were looking for and agreed that it was time for a vacation combined with properties showings.

Meeting Jeremy for the first time, with 5 property showings scheduled, he won the biggest battle with his easy, no pressure, yet professional and at the same time very personal style. Right away, my wife and I felt very comfortable and had trust in him.

The showings went well with us especially impressed with a property and a brand new house just waiting for the finishing touches built by Greg Brown Development. We went back for a second tour meeting up with Greg Brown himself to have a more in-depth look and discussion. The layout was well thought out, craftsmanship, materials, and appliances used are satisfying the highest expectations. Jeremy and us prepared that night an offer for the property and after some additional negotiations the following day, the deal was done with satisfied seller and buyer parties.

With funding guaranteed, the sides agreed for a super speedy 21 days closing…

We returned to the Mainland with Jeremy working his magic to get all the different professionals on the same page and to overcome eventual stumbling blocks. He referred us to a local lawyer for some additional peace of mind, which worked out well. We went back to Maui to take possession of the property on the day we targeted. Jeremy helped us to connect with professionals like Interior designer, landscaper, pool maintenance, security company, etc.

An exceptional dinner on Jeremy’s tab was a nice conclusion to a successful undertaking. Thanks, Jeremy – you have been wonderful to work with and we can only highly recommend you to anyone looking to buy and/or sell property on Maui.

We are looking forward to spend quality time in paradise.”
Hans + Margit Kopecky

Contact a West Maui Real Estate Specialist

I live in Ka’anapali and regularly visit many of the different attractions and locations that make Ka’anapali one of the best places in the world to live. Please let me know if there is anything I can do to be of assistance when it comes to buying or selling real estate in West Maui.

Aloha from Maui,

Jeremy Stice REALTOR (Broker)
808.281.2178
Stice@HawaiiLife.com