The Stice Team just listed residence #220 (MLS# 353980) at the Hokulani (south) Tower of the Honua Kai Resort and Spa in Ka’anapali, Maui. Honua Kai is a world class resort sitting directly on the white sandy shores of Ka’anapali North Beach.
I am a very strong believer in the long term value of Honua Kai because of its location, high level of quality construction, its beautiful grounds and amenities, and the strong rental returns that owners are seeing here. Although only a couple years old, Honua Kai already has a very strong reputation on Trip Advisor and other sites, which are consistently ranking it at or near the top of the rankings for the West Maui region.
The Hokulani (south and tower on the right) and Konea (North) tower comprise the Honua Kai Resort and Spa sitting directly on Ka’anapali North Beach. Please read all about the resort specifics in my Honua Kai Resort Overview Blog.
Honua Kai-Hokulani #220 Video Trailer
Hokulani #220 is a two bedroom/two bath unit of 1,240 sq.ft. of living area with a huge lanai area that has fantastic views of the West Maui Mountains and partial ocean views
The interior finishes of Hokulani #220 are refined, modern, and attractive. Experience travertine tile, granite slabs, and Bosch stainless steel appliances all integrated into an open floor plan that transitions seamlessly to the huge lanai. The residence is sold completely furnished and is in like-new condition.
Highlights of Hokulani #220
Hokulani #220 is rated a 94 out of a possible 100 on the Hawaii Life Value Score. Generally speaking, anything above a score of 90 represents strong value and is priced to sell. At the time of listing, this is the lowest priced 2 bedroom unit at Honua Kai by $126,000 (this does include developer inventory as well). See the value score and all the listing details of Hokulani #220 on the listing detail page.
Hokulani #220 has a lanai area of 1,150 sq.ft., which is almost as large as its living area (1,250 sq.ft.), making it one of the largest in the resort really only comparable to the multi-million dollar 3 bedroom units at the front of the building. The massive lanai area adds functional space and you are not paying HOA fees on this area as these fees are only assessed on interior living area.
Hokulani #220 has an open floor plan with excellent air flow and beautiful natural lighting. The large open living area is perfect for entertaining while preparing meals and leads seamlessly to the large outdoor living area. The bedrooms are on each end to ensure privacy with the master having a peek-a-boo ocean view and the second bedroom with unobstructed views of the West Maui Mountains.
Incredible Location on the World’s Best Island of Maui
Honua Kai sits directly on Ka’anaapli North Beach with the islands of Lana’i (pictured above) and Molokai serving as the backdrop for your backyard personal playground of white sandy beaches. It is easy to understand why this is a special place for so many who come from across the world to be here. It’s all about the memories made on Maui.
My clients Charles and Cheryl Reichart who purchased a one bedroom unit at the Hokulani Tower absolutely love snorkeling and exploring the vibrant coral reefs directly in front of Honua Kai. Here is what they had to say about their purchasing experience at Honua Kai.
My fiance, Megan, and I love getting some exercise on our stand up paddle boards launching a little south of the Westin Ocean Villas and paddling up past Honua Kai and the Mahana. This beach will also hold a special place in our heart as I proposed to Megan here and then had steak and lobster at Dukes Beach House. If you’re feeling a bit sentimental here is the blog post – proposal in paradise.
Lower HOA Fees/Newer Construction
At $1.20/sq.ft. of living area Honua Kai has the lowest HOA fees of any comparable resort buildings in Ka’anapali. Most of this has to do with the fact that Honua Kai is a much newer building (Hokulani was completed in 2008 and Konea in 2009); as well as the setback from the ocean is more substantial than other resorts.
The comparable buildings are anywhere from 20-40 years older than Honua Kai. Clearly, there are tradeoffs with a larger setback, but when you consider the shoreline erosion issues that other buildings in West Maui are experiencing – this does present a substantial benefit. Here are a couple of these buildings to compare:
- Whaler at Ka’anapali built in 1976: HOA fees $2.30/sq.ft. of living area
- Ka’anapali Shores built in 1980: HOA fees $1.30/sq.ft. of living area
- Mahana at Ka’anapali built in 1975: HOA fees $1.73/sq.ft. of living area
Rental Income Revenue
The owner of Hokulani #220 has grossed about $80,000 in revenue thus far in 2012. Honua Kai as a whole is showing very strong returns with the numbers up about 20% year over year from 2011 and I would think that 2013 will likely be even a stronger year as the resort continues to market itself, word of mouth increases, and the overall economy continues to improve. During this holiday season at Honua Kai, rental occupancy will be at full capacity which means 95%-100% full (this is incredible for this new of a resort).
World Class Amenities
Honua Kai sits on 38 acres and has many pools for all ages, hot tubs, and water slides for all to enjoy. There is a gym in the Hokulani Tower, which I hear is in the process of being expanded. Dukes Beach House is a great place to enjoy breakfast, lunch, and dinner. In the event that you would like to grill some steaks or cook in your unit, Times Supermarket is a short walk right across the street from Honua Kai.
The Aina gourmet market is a nice place to pick up a sandwich or an espresso. The new restaurant in the Konea Tower, which I am hearing will likely be a 5 star fine dining venue as well as the spa should be worked out and in operation in the next 12-18 months. There is an on-site kids camp with various programs.
Owners experience resort hotel services including underground parking and complimentary valet parking for owners, central check-in reception, full service concierge, bell service, and daily housekeeping. I have also been told that they now have storage areas for SUP boards and kayaks in the underground parking areas so owners can leave their water toys.
25% Down Financing Options
In April of this year I blogged about the new financing being offered by a local bank at Honua Kai which offers a serious competitive advantage over all other lenders – be sure to check this post out as well as some of the subsequent predictions I offered: New financing at Honua Resort and Spa. Please reach out to me directly for my direct contact with this bank.
The view from a 3 bedroom unit at the Hokulani tower that I just helped a buyer client of mine get an exceptional deal on
What All is For Sale at Honua Kai?
Currently, there are 16 resale units on the market-studios, one bedrooms, two bedrooms, and three bedroom units. Here is a gallery of all the Honua Kai resale units.
There are also roughly 130 developer units still for sale at Honua Kai – most of these units are two bedroom and three bedroom units albeit there are still a couple one bedroom and studio units. In January of this year I shared my Honua Kai market update, which illustrated the high rate of recent liquidity at the resort. Honua Kai January 2012 Market Update.
Please ask me for the most recent inventory list and my recommendations for best buys in relation to your specific needs and budget. I know the inventory very well, have helped a number of buyer clients find some exceptional properties and great prices (most recently I helped a buyer client from Vancouver, Canada secure a fantastic 3 bedroom ocean view unit), and am here to help you find what is best for you.
Ãnuenue (rainbow) commonly lives on the mauka side of Honua Kai for all to enjoy and remind us of the vibrancy and mana of Maui. I am here to help you create timeless memories and call Honua Kai home. Aloha from Ka’anapali.