MAUI MARKET UPDATES:
No major changes to our residential, condo and vacant land inventory this past month, as we entered the shoulder season which should last until mid-November.
With the the slowing down of visitor arrivals, a lot of sellers are temporarily cancelling their listings, keeping the overall inventory stable, as others are listing theirs.
We noticed a very slight increase in short-term rentable condos in West Maui over the past month, and a bit of an uptick in the numbers of residential condos for sale in Central Maui.
The main buying activity seems to come from local residents looking for the more affordable Homes in the Upcountry area and Central Maui as their primary residence; investors seem to be chasing the same category to turn those properties into long-term rentals.
Sellers of apartment-zoned short-term rentable condos in West and South Maui remain motivated, as there are no significant updates regarding the proposed bill aiming at phasing out that type of property.
AUGUST 2024 MAUI MARKET REPORT:
FEATURED PROPERTY: Kaanapali Shores - 3445 Lower Honoapiilani Rd, Lahaina HI 96761
PHOTO CREDIT: STUDIO 44A
One of the few Hotel-zoned complex in West Maui, the Aston Kaanapali Shores is located on the North part of Kaanapali, right at the entrance of Honokowai.
This oceanfront complex was built in 1980, and consists of 463 units spread over 2 buildings. The main building consists of 9 floors. There are elevators conveniently located in both buildings, and all units have central AC.
The various floor plans include studios, one bedroom and two bedroom-units, ranging from 507 sf to 1507 sf.
2 swimming pools, tennis courts, BBQ areas, hot tubs, an exercise room and an onsite restaurant are amongst the many amenities offered to the Kaanapali Shores owners and guests.
PHOTO CREDIT: STUDIO 44A
Roughly 87% of the units in the complex have been converted to Fee Simple, and the rest are still Leasehold units.
Aqua Aston is the onsite property management company for the resort. Owners can choose to enroll in the onsite property management program, or they can also mange their units on their own, or via an outside company.
WHAT I LOVE ABOUT THE KAANAPALI SHORES:
Because it is not located in the center of Kaanapali Resort, the price point for that complex remain reasonable for an oceanfront property on Maui. It still benefits from an ideal location, walking distance to the North end of Kaanapali Beach and the convenient Boardwalk, a short distance to many delicious restaurants, shopping, world renown golf courses and spectacular beaches.
You'll be able to enjoy year-round sunsets from that property, and with all its onsite amenities, you'll never have to leave the resort if you are on Maui to seek pure Aloha and relaxation.
PHOTO CREDIT: STUDIO 44A
COCONUT WIRELESS AND MAUI RESTAURANT UPDATES:
Honu Oceanside is planning on a re-opening on October 3rd. It is rumored that they may have gotten the executive chef of the fine dining restaurant Lahaina Grill on their team!
A new restaurant just opened at the old Duckine location on Front street. Cocodeck Kitchen and Bar Lahaina opened its door on September 7th.
https://www.cocodecklahaina.com
Cool Cat Cafe was one of everyone's favorite in Lahaina town, and they have re-opened a location in Kihei at the Kukui Mall back in June. A lot of the original staff, many of whom lost their homes in the Lahaina fire, are back working at the new location:
Captain Jack's Island Grill posted on their website that they will re-open a location at the Sands of Kahana Resort by the end of 2024:
https://www.captainjacksmaui.com
Sale Pepe Pizzeria e Cucina was one of the many favorite restaurants also taken on 8/8/23. They are working hard for a re-opening in their new location at Emerald Plaza this coming Fall: