As part of my commitment to keeping the community informed about West Maui’s micro-market real estate environment, I’m bringing you an up-to-date, comprehensive property market summary of Hoonanea at Lahaina, West Maui’s premier local townhome community.
What You’ll Find
- Actual Sales Prices: learn exactly how much specific properties sold for
- Sales Volume: see the strength of the market in terms of how many properties sold
- Days on Market: understand how long it takes the average property to sell
- List Price vs. Sold Price: see how the final sales price compares to the listing price
- Price Per Square Foot: which is critical in calculating real estate values
- Asset % Growth: what is the year over year appreciation of my property
- Current Inventory: what is actively for sale and currently under contract
Before we dig into the numbers, make sure you subscribe to my blog if you want to be notified of future market reports as they come available.
Hoonanea at Lahaina Current Market Snapshot (What You Need to Know)
- From a 5 year standpoint, what a run it’s been for Hoonanea. Since 2014, sale prices have increased 40% with relatively equal gains in both 2-bedroom and 3-bedroom units. It has arguably been one of the most in-demand local residential condo/townhome communities in all of West Maui.
- However, with significantly increased prices has come a bit of Buyer’s resistance in 2019 as indicated by the increased days on market to sell. From a 2015 – 2017 average of only 86 days per sale, to 118 days in 2018 and this year’s 152 days. Another key indicator to pay attention to is sales volume — in a neighborhood that has averaged 11 transactions per year since 2017, there have been only 4 sales thus far in 2019 (1 currently under contract). For comparative sake, Hoonanea’s sister complex Opukaea has had 8 properties trade this year with 4 currently under contract. It should also be noted that 4 Hoonanea units have already canceled or expired so far this year without re-listing.
- Currently there are 2 actively listed units for sale
Hoonanea at Lahaina Historical Sales Summary
Hoonanea 2 Bedroom Sales
Hoonanea 3 Bedroom Sales
Hoonanea at Lahaina Active Market
