Direct Beachfront Studio Unit Just Listed at the Mahana at Ka’anapali
Direct Maui white sand beachfront living at the Mahana at Ka’anapali is simply unrivaled. Why not enjoy it from The Stice Team’s newest listing, a high remodeled studio/one bath unit Mahana #1202 (MLS# 354536).
Sitting on the top floor, this unit has a very dramatic penthouse feeling to it – but rather than looking out at other buildings and city lights, you experience an obstructed 180 degree panoramic of the vast Pacific Ocean, humpback whales breaching, sounds of the gentle waves lapping the white sandy beach below, the romantic silhouettes of Lana’i and Moloka’i in the distance, the taste of sweet cool and pure air coming off the ocean, the scent of teriyaki chicken cooking on the grills below, and sunsets that make you want to grow roots and anchor yourself at the Mahana forever.
Full HD Video of Mahana #1202 and The Mahana at Ka’anapali Life
Please enjoy the video here, or just check out listing details and photos by clicking here
What Makes The Mahana So Special and Unique?
The Mahana, meaning “Twins” in Hawaiian, was constructed in 1975 and has truly developed it into a special place that is defined as much by the incredible warmth of the sense of Ohana and Aloha amongst the owner community as its stunning natural beauty.
The Mahana has a very private and serene feeling, and the owner demographic is mature and enjoys the serenity and relative privacy of the location rather than say the neighboring Honua Kai, Papakea, and Ka’anapali Shores resorts, which are more oriented towards younger individuals and those with young children.
The Mahana is so close to the water that it sometimes feel like you are going to fall in. With current zoning regulations increasing shoreline setbacks on building – The Mahana is simply irreplaceable. We are not making any more beachfront property here on Maui and this is as good as it gets.
With the Moloka’i Tower (background) and the Lana’i Tower (foreground) you can see why this timeless classic is called The Mahana or “Twins” in Hawaiian
Mahana #1202 Remodel Completed in 2004
The owners of Mahana #1202 hired local contractor Brian Volk to overhaul the unit they just purchased including removing walls and the popcorn ceiling. The unit was completed mirrored, new carpet and tile flooring installed, granite counters and bathroom vanities, travertine in the shower, new kitchen cabinetry, custom lighting, and new appliances.
The renovation totaled $78,000 and took over 2 months to complete. Over the years the owners have put in an additional $54,000 in newer appliances and furniture packages so that the unit remains in the premium A rental category for the Aston rental program.
You really have to ask yourself: Do I want to spend an additional $100,000 cash remodeling a unit and dealing with contractors, or would I rather watch the humpbacks and play shuffleboard along the ocean side with my grand kids?
Historical Sold Values of Mahana Studio Units
The numbers really speak for themselves as to why Mahana #1202 is a tremendous value at $549,000. Peak values for studio units at the Mahana nearly reached $700,000 as recently as 2008.
Will it be a while before we reach values seen during the peak of the market? Yes, of course it will, but there is no question that this particular unit has the right elements to reach peak values again and there is nothing that needs to be done to it. Our inventory levels have been dropping drastically and are down about 16% for condos when comparing 2012 versus 2011. Ask yourself this, where will the values be in 10 years from now?
Enjoy the beach walk between The Mahana in background and Dukes Beach House restaurant in the foreground. This beach walk continues for miles in the southern direction past black rock and towards South Ka’anapali beach making it a very popular route for morning and evening walkers and runners.
Convenient Location w/Immaculate Grounds
Chris Curtis’s landscaping company has done an amazing job bringing up and maintaining the grounds to the highest level. The parking lot for the Mahana feels much more like a park than anything else under the shade of large trees with tropical flowers and shrubs abound.
Directly across the street from the Mahana is Times Supermarket, which is a full service grocery store, as well as some nice local restaurants my favorite of which is Pizza Paradiso, a Mediterranean grill that has a Chicken Parmesan sandwich that is simply amazing.
A short walk down the beach walk in the southern direction of Mahana at the Honua Kai Resort is Dukes Beach House which prides itself of excellent food using fresh local ingredients and service with Aloha. There are several different beach parks, restaurants, and boutique shops in the Honokowai area that are all within short walking distance of the Mahana.
Consistent Monthly Rental Income
On average, the seller of Mahana #1202 has been receiving about $2,700 per month after the split with the Aston management company. Notable costs are the AOAO fees at $840 per month and property taxes at $318. The Mahana is a very popular destination for new and many repeat visitors which keeps the average occupancy rate over 80% during the course of the year.
It’s views like these taken from the lanai of unit #1202 that are going to keep owners and guests returning to the Mahana for as long as they can
Financially Sound Condominium Complex in Solid Physical Condition
The board at the Mahana prides itself on responsibly operating and running the complex. There are healthy financial reserves, the building is in excellent condition and very attractive physical condition, and the grounds are well groomed and beautiful. There is constant vigilance exercised keeping the building secure and no pending assessments in the current or foreseeable future.
The Mahana’s physical building and the upgrades to unit #1202 have already been paid for, it has gone through all of the extensive renovations with great expense to the owners for everything from the lobby and pool area to structurally reinforcement of the buildings. According the owners of Mahana #1202 “The Mahana is in the sweet spot now.”
Please let me know if you would like more detailed information on Mahana #1202, or would like to schedule a private showing and I will do my best to accommodate it. In the event that you are considering another studio, one bedroom, or two bedroom unit at the Mahana, please be sure to check out my gallery of everything actively on the market for sale.
Aloha from the listing agent,Jeremy Stice R(S) 808.281.2178 Stice@HawaiiLife.com