Honua Kai is the newest development on Kaanapali Beach, featuring apartments ranging from in size from studio to 3bd. Occupancy rates have improved tremendously over the past year, now averaging 80%. Room rates start at aprox. $300/night.
Honua Kai Prices Fall
If you thought condos at Maui’s newest luxury resort were out of reach, read on.
Today the developers of Honua Kai announced significant price changes in over 70 condos in both the Hoku Lani and the Konea Towers.
In the original tower, Hoku Lani, some units have had price reductions of over 35%. For example unit 930 a one bedroom, one bath, was originally priced at $765,000, but now they are asking $479,900. Unit number 410 a two bedroom, two bath “partial” ocean view was originally priced at $1,500,000. Now it is under $1,000,000 at $974,900.
In the new Konea tower some of the hard to find studio condos, originally $700,000 are now $679,900. There is a 2 bedroom unit being offered at $699,900 down from $1,033,500 and a 2 bedroom partial ocean view condo marked down from $1,111,500 to $784,900. There are also one bedroom units that were originally priced at over $700,000 that can now be had for prices in the $400’s.
And Honua Kai Resort continues to evolve. A new high end restaurant that will compliment Duke’s and the Aina Market is being planned for the Konea building. The Konea build will also have a new spa in the next few months.
The very best deals at Honua Kai will be on the mountain view and partial ocean view units. If you have a mind to rent your unit out you might wonder how well these non- ocean view units do. Well, I’m told these get great occupancy because they are the units that get bundled with the hotel room – car – airfare deals.
But not all of the prices went down. Prices for some of the most desirable interior courtyard ocean view condos actually went up. Why would someone raise prices in this market? Maybe just to make it interesting? If you would like a list of Honua Kai Condos for sale and the new prices, just shoot me an email and put Honua Kai prices in the subject line.
Lee Potts, Realtor Broker, MBA, ABR, CDPE
The Aloha Potts Team
Aloha Realty Group
180 Dickenson St. #217
Lahaina, HI 96761