Significant Sales – Three Maui Oceanfront Homes

• North Shore of Maui – Stable Road, Spreckelsville, Paia – An ocean enthusiast’s Mecca

Sales of Maui oceanfront and beachfront homes have reached a new high.  During the month of September, three homes traded hands.  Sale prices ranged from $3,020,000 to $13,800,000. All of the transactions closed with cash terms.  To date there have been 15 oceanfront homes sold in 2011.  If we include the 6 homes that are under-contract, oceanfront sales will top the 17 transactions that closed in 2010 and possibly surpass the peak volume of oceanfront homes that sold in 2004.

The sale of  a residence on Halama Street recently sold for $3.02 million.  Located in Central Kihei this 3,000 sq.ft., 3 bedroom, 3.5 bath home was built in 1985 and is situated on over a third of an acre.   The property was listed as an REO or bank owned asset.

The 2nd sale occurred on Stable Road, Spreckelsville.  Located along Maui’s North Shore this beach bungalow recorded at $3.3 million.   This 4 bedroom, 3 bath beachfront home provides the ideal launch site for kite surfing, wind surfing and paddle boarding.

• 3040 South Kihei Road, Keawakapu Beach Residence

The high sale in September was a renowned celebrity’s home located on Keawakapu Beach in South Kihei.   Built in 2005, this stunning residence consists of 6,150 sq.ft. of interior living area, 4 bedrooms, 3.5 baths and over 1,600 sq.ft. of outdoor lanai area.  The 960 sq.ft. 2 bedrooms, 2 bath guest quarters is an added bonus. Originally listed for $20.5 million, this luxury home recorded in September for $13.8 million.  I should also mention that the Buyer paid another $1.5 million, cash for the furnishings, so the actual price paid was $15.3 million.

Savvy investors are back in the market realizing that values may not buckle significantly lower than they are today.  So if ever there was a time to take advantage of Maui real estate values, the time is now.

If you have questions, or would like information on sales and available Maui oceanfront properties, give us a call.  We are here to assist.