Some thoughts on South Kihei & Wailea Vacation Rental Condos

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Some thoughts on South Kihei & Wailea Vacation Rental Condos

February 29, 2008

Aloha,

Recently several of my clients have asked me to rate the different condo complexes in South Kihei & Wailea between $400K - $1M. Although any kind of a rating is very subjective I do think outlining a few of the strengths & weakness of the prominent complexes is helpful when comparing apples to oranges in the South Maui Real Estate Market. Before my clients purchase and put down their capital on their new vacation home I endeavor to make my clients “akamai” (smart, intelligent, knowledgeable) about the market in which they are buying. This way they are more likely to be pleased with their purchase and enjoy their vacation home for many years to come. Below are some of the vacation rental condos I like by price range highlighting what I think are some of the more important considerations in looking at a complex.

$600K - $1.4M
1. Palms at Wailea - really spacious floor plans best construction, Wailea address, one of my personal favorite complexes of all. Complex has 1 pool, & hot tub. Values have been softening due to a lot of inventory.
2. Wailea Ekolu - the best views of all, older buildings (1979), but if renovated they can be outstanding. Least dense of all condo complexes. Complex has 2 pools. Values have been holding solid.
3. Grand Champions - entry into Wailea, ok construction, spacious floor plans. Currently some deals in this complex are a 1 bedroom at $559K and a 3 bedroom with ocean view at $795K. Complex has 2 pools. Values have been softening due to a lot of inventory.

$400K-$800K All in Kihei
1. Kamaole Sands - strong rentals, large complex (400+ condos), very hotel-like atmosphere, have always held their value, across the street from a great beach. Complex has 1 pool, 2 hot tubs, kiddy pool and tennis courts. Values have been holding solid.
2. Maui Kamaole - this is a really nice Kihei condo complex that goes as high as $1.2M but at that higher price point I would rather see you in Wailea. The 2 bedrooms are all upstairs, lofted units & the one bedrooms are all ground floor. There are currently two 2 bedroom units in the $600K - $700K price range with garden views that I think are really good deals. Complex has 2 pools and tennis courts. Values have been softening due to a lot of inventory.
3. Hale Kamaole - this is an older complex but it is really fun and in a great location across from Kamaole Beach Park III. The 2 bedrooms are all upstairs, lofted units and can have additional loft space added. The 1 bedrooms are good sized but only have 1 bath. Complex has 2 pools and a tennis court. Values have been holding solid.
4. Maui Banyan - I like the 2 bedroom units. Spacious considering the smaller square footage due to no interior hallways. As for the 1 bedroom units, I don't like the lanais (porch/balcony) - they are too small. The complex runs perpendicular to the ocean and ocean views are marginal. Located across from a great beach in South Kihei. Currently there are no units available in the complex that I like. Complex has 2 pools and 2 tennis courts. Values have been holding solid.

In addition to the complexes I have highlighted there are a handful of smaller complexes that have very attractive individual units. I will also address the other market values in Wailea, Makena & Kihei. I hope this is helpful, please call or email to get more details on the complexes or with any questions you may have.

Warmest aloha,
tt
direct cell 808-280-2055
toll free 866-752-4663
Tom@TomTezak.com

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Blogs for February 2008