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Maui Ranks High Amongst Best Places for Second Homes
In a recent article, Barron’s took stock of the national second home property market and found that market recovery was well underway. While the rebound has not been steady across the board, a general uptrend is certainly occurring. With prices in many popular vacation destinations having hit bottom and being ready to rise or already on the rise, there are many great deals to be found on the current second home property market. Such value was one of the main factors that Barron’s considered when choosing its top 15 best places for second homes. Other influential criteria included comfort, convenience and beautiful surroundings.
While all of the top 15 rankings can be viewed at the original Barron’s article, of particular note is the fact that Maui grabbed the second spot, outranking other highly popular destinations such as the Hamptons, Aspen and Martha’s Vineyard. Only outranked by Sea Island, Georgia, Maui is known for its exquisite sandy beaches, its relaxing atmosphere and truly spectacular views of the mountains, the Pacific Ocean and breathtaking sunsets. And with many luxury homes, resorts and quality amenities located on the island, it’s not surprising that Maui easily ticked the boxes of comfort, convenience and gorgeous scenery.
However, Maui also has many other excellent attributes, including the favorable current conditions of the property market. As noted by Barron’s, Maui home sales are beginning to gain strength, particularly in the beautiful coastal towns of Wailea and Makena. Sales volumes in these locations rose by 35 percent last year, with the total dollar volume shooting up 135 percent. The median house price for the Wailea-Makena area is currently $1.7 million but asking prices for oceanfront homes can go as high as $22 million. That said, it is possible to find some great deals on Maui. For example, Makena Place is an oceanfront community that provides all of the best that Maui has to offer for great value.
Anyone who is familiar with Maui will not be surprised that the island ranked so highly on Barron’s list of best places for second homes. Offering tranquility, remarkable natural beauty and practically endless opportunities for outdoor recreation, Maui is an ideal vacation and retirement destination. When that fact is combined with the current favorable market conditions, Maui becomes an even more attractive location for purchasing a second home.