With inventory down and the spotlight on value-driven vacation rentals, a new listing at Maui Vista (MLS# 354017) is definitely at the forefront of the Kihei condo pack. Maui Vista Unit 3-422 is a top floor unit located in Building 3, one of the property’s two preferred buildings (Buildings 2 is the other).
From first appearances it looks to be nicely remodeled and close to turn-key for vacation rental as we head into Maui’s high season (this is not my listing: I will be previewing this unit next week).
Maui Vista Should be on Your Hot-List
Maui Vista is a consistent performer in the vacation rental arena. It’s located across the street from one of Maui’s best beaches – Kamaole I, connecting to Charlie Young – and features three pools, tennis courts, and nicely maintained grounds.
Prices for 1-bedroom condos start in the mid-$200s and go into the $300s, and 2-bedroom units sell in the high $300s to mid-$400s. In my opinion, if the South Kihei beaches are an important factor, and you’re looking at the lower end of the vacation rental market, Maui Vista should be on your hot-list.
Recent Sales at the Maui Vista
Unit 2-406 (listed at $449,000) was the highest priced unit listed at Maui Vista since xxxx, and went into escrow a few weeks ago at very near asking price. Two other 2-bedroom units, 3-420 (listed at $369,000) and 1-402 (listed at $399,000) have gone into escrow in the last two weeks.
Current Active Listings at the Maui Vista
It is my opinion that the newly listed 3-422 is a strong buy and will be in escrow within a few weeks. There are currently four 1-bedroom listings active at Maui Vista:
- A ground floor unit in Building 1 (MLS# 353050) listed at $247,000
- A ground floor unit in Building 2 (MLS# 342465) listed at $259,900
- A second-floor condo in Building 3 (MLS# 353519) listed at $264,000
- A second-story unit in Building 2 (MLS# 352129) listed at $319,000
Many buyers and vacation rental visitors prefer buildings 2 and 3 because of the road noise in Building 1, which fronts Kihei Road. However, it is closer to the beach. My wife manages two vacation rental units in Building 1, and her annual occupancy rate is over 80%.