Blog Detail
The Future of Maui Real Estate Prices
During the last 12 to 24 months, prices for most real estate on Maui have appreciated significantly. Low end residential condos have gone up the most, because they were the ones that were hit hardest in the down cycle.
Condos such as Kihei Villages and Southpointe which had sold at the peak for $330K had dropped as low as $100K. Now, they are back to between $200K and 250K. Homes did not drop nearly as much. Perhaps 35% to 40% on average, and they have now rebounded approximately 20% to 25%.
In many areas of the country, prices are at previous peak levels or higher. Maui often lags prices on the West Coast by 6 to 12 months, so I feel that investors are now looking at the Maui as being under priced. Certainly, if you compare prices on Maui with Oahu prices, you will come to that same conclusion.
If you haven’t bought yet, you certainly have not missed the boat. There are still plenty of excellent opportunities for first time home buyers, second home buyers, and investors. I don’t want to mislead you though as it is getting increasingly difficult owing to the competition you will face to purchase well priced properties.
Let us put our expertise to work, so that we can help you find the right property to meet your needs and suit your budget.
Have a wonderful week.
Mahalo Nui Loa,
Ken for The Smith Team
P.S. We would like to welcome back to the Island, Maya Rivers, a private fitness trainer. She will be starting soon as a trainer for guests at the new Andaz Hotel in Wailea. She is also available for personal private training as well. Check out her website, and call her for a private training session.