Kamaole Sands Outperforms South Kihei Condo Market

According to Maui MLS data, there were 31 closed sales at Kamaole Sands in 2016 with a total dollar volume of $14,299,500! Compared to 2015, that’s an increase of approximately 82% in sales (17) volume and approximately 67% increase in total dollar volume ($8,538,750). The numbers for Fee Simple condo sales in Kihei were positive in 2016, but nowhere near Kam Sands numbers! According to the stats released by the Realtors Association of Maui for 2016, Kihei Fee Simple condo sales increased 5% and the total dollar volume increased 9%.

Welcome to Kamaole Sands

Sold Units

Here is the breakdown of all sold units in 2016 (inside buildings: 1, 2, 3, 5, 6, 7 & 10; outside buildings: 4, 8, & 9):

• 21 one bedroom units: 12 inside building units, ranging from $400,000 to $505,000, and 9 outside building units, ranging from $315,000 to $470,000
• 9 two bedroom units: 3 inside building units, ranging from $575,000 to $660,000, and 5 outside building units ranging from $430,000 to $505,000
• 1 three bedroom unit: outside building 8 closed at $699,500

Pending Sales

At the time of this report, there were 6 pending sales, 3 one bedroom and 3 two bedroom units. Here is the breakdown of the pending sales:

• One bedroom units: 2 inside building units priced at $429,000 & $475,000 & 1 outside building unit priced at $365,000
• Two bedroom units: 1 inside building unit priced at $600,000 & 2 outside building units priced at $499,000

Currently For Sale

If you are looking to add another unit to your portfolio, or if you know someone looking for a Kam Sands, this is what’s currently on the market for sale:

2 Bedroom

• 8-105 at $524,900
• 7-408 at $647,499

1 Bedroom

• 8-304 at $399,000
• 8-102 at $409,000
• 9-202 at $439,000
• 9-103 at $459,000
• 5-115 at $459,000
• 7-304 at $469,000

More Information

Based on 2016 sales, the absorption rate at Kamaole Sands was 2.58 units per month, and using this rate, it would take the market approximately 3.1 months to absorb the current inventory, which indicates a strong Seller’s market.

Feel free to contact me if you would like more information on Maui real estate.

Mahalo,
Alex