If you have not noticed it yet the inventory of active listings in Hawaii is shrinking. If you have thought about buying a condo in Maui, but have been waiting for something, do your due diligence now to find the complex you want. Pick maybe three properties that fit you needs, get yourself pre-qualified, and pick out those properties.
The last thing you want to do is have your Realtor tell you about a good deal in a particular condo complex that you have not even heard of. Then by the time you do your research, the condo is gone. With shrinking inventory, keep an eye on your favorite complex.
A good case in point is the Maui Banyan. A two bedroom unit recently came on the the market listed at $390,000. It was listed on 9/12/12 and under contract by 9/15/12.
Maui Banyan Condo Availability
As of the date this blog was posted, the Maui Banyan has only 4 active listings at this time. This complex has 256 units, so you can see it is a very desirable complex. As with most hotel zoned properties, you can rent them out short term (vacation rentals), long term, live in it yourself, or keep as your second home. There is only so much hotel zoned land on Maui and, with our current supply and demand levels, this will keep the prices up on that type of property. View all current active Maui Banyan condos.
Why Choose the Maui Banyan?
The Maui Banyan was built in 1991 making it one of the newest hotel zoned properties in Kihei. It is a well-kept complex in one of the most desirable locations in Maui – right across the street from Kamaole Beach 2. It has a resort feel with 8 buildings ranging from 2-5 floors. They have lots of parking with a multi-story parking structure, tennis courts, BBQ areas, 2 pools, security, and elevators.
There are one or two bedroom units available. The one bedrooms have two bathrooms, which is a real plus. The two bedrooms have a great option of a lock off. This lock off feature is not very common. This means you can use it as a two bedroom, or a one bedroom/one bath and a studio unit. You essentially have three units in one. These units also have their own washer and dryers inside the units and air conditioning.
Vacation Rental Program at Maui Banyan
With the great rental history this property has had in the past, this is one complex to put on your list if you are looking at buying a condo that you may want to put into a vacation rental program. You can rent your unit yourself, or you can use one of many different property management companies on island. You also can choose to use the on site management program, which is the Aston Resorts program.
If you have any questions about any of the choices for vacation rental management, give me a call or send an email and I would be happy to help you out.