One Bedroom/One Bath Mountain View Unit at Honua Kai Sold for $525,000

I want to extend a big congratulations to Craig Kojima and his ohana in California as they just closed escrow on Hokulani #728 – a one bedroom/one bath mountain view unit at the Honua Kai Resort and Spa in Ka’anapali, Maui.

This was an extremely rewarding experience for all and through some hard work, dedication, and patience we were able to help the Kojimas accomplish this lifelong dream. Craig shares it best below as he contacted me after this post, which contained the actual unit that he purchased here: 4 New One Bedroom Listings at Honua Kai.

A Few Words From Craig Kojima

My wife and I have been aware of Honua Kai for a couple of years. We were finally able to stay at the property last October and were so impressed that we spoke to the sales representative about purchasing a 1 bedroom unit. She informed us that there was only one left for sale by the developer, and by the time we returned to the mainland, the unit had been sold.

At that point, we basically gave up the idea of ever owning at Honua Kai. I would peruse the real estate listings from time to time hoping to stumble upon a unit that would fall within our budget. This was how I came to find Jeremy. His blog entry in early January told of 4 one bedroom units that had just been listed at Honua Kai that were within our price range. Further research indicated that he was the only Realtor I found who had in depth knowledge of these listings.

I called Jeremy to see what other information he had about the units. We spoke at length and he fielded all of my basic questions about owning a vacation property. It quickly became obvious that Jeremy was intimately knowledgeable about Honua Kai. We felt very comfortable with Jeremy and his assessment of the market and soon after we put in an offer for one of the units. The offer wasn’t immediately accepted, but Jeremy stayed on top of everything until the sellers accepted our offer.

The entire transaction was nothing like we’d ever experienced. When issues arose with the financing and we felt like giving up, Jeremy was always supportive. He insisted that if we weren’t comfortable with any aspect of the deal, he’d back any decision we made. At one point he related some of his life experiences that directly applied to an issue we were struggling with. Jeremy truly had our best interests in mind, and there was never any pressure to continue with the purchase.

The Stice Team embodies a unique blend of market knowledge and awareness combined with a personal touch you’d expect only from close friends. We’d like to extend our gratitude to Jeremy and Tracy Stice for helping us attain our dream vacation home in Maui.

-Craig Kojima owner of Honua Kai Hokulani #728-

Konea 224

The mountain view from the huge 430 sq.ft. lanai on Konea #224 priced at $625,000 is my one bedroom best buy at Honua Kai

Are There More Mountain View Deals Like This at Honua Kai?

All of the one bedroom developer units at Honua Kai have been sold. I am aware of one more unit very similar to these that may be available for sale at about the same price point as the Kojima ohana paid for their property – please reach out directly to me in regards to this.

Currently, there are 3 one bedroom mountain view units resale units for sale:

  • Hokulani #724 – 1bd./1ba 620 sq.ft. with a 165 sq.ft. covered lanai priced at $625,000
  • Hokulani #532 – 1bd./1ba. 620 sq.ft. with a 165 sq.ft. covered lanai priced at $658,900
  • Konea #224 – 1bd./1ba 750 sq.ft. with a 430 sq.ft. priced at $625,000

Be sure to check out the listing details and all photos of these properties here: Honua Kai Resale Units for Sale. Of these units, I think that Konea #224 is clearly the best buy because of the increased interior square footage, the massive lanai area, and I like this particular location within the resort.

Are Prices Increasing at Honua Kai?

There is really no disputing that the the entry level market of Honua Kai has demonstrated substantial price increases since the developer fire sales which took place in the summer of 2011.

  • Hokulani #324 – a one bedroom/one bath mountain view unit purchased in the Spring of 2012 for $415,000 just closed escrow at the end of Feb 2013 for $460,000
  • Hokulani#526 – a one bedroom/one bath mountain view unit purchased in the Spring of 2012 for $430,000 closed at the end of March 2013 for $480,000
  • Hokulani #728 – the unit that the Kojima’s purchased for $525,000 was sold by the developer in the Spring of ’12 for $460,000
  • Konea #610 – a one bedroom/one bath partial ocean view unit purchased for $505,000 a developer sale in late 2011 is now currently under contract with a listing price of $669,750 and I have a feeling that this property will be closing very close to the current asking price.
  • Konea #422 – a two bedroom/two bath mountain view unit which was one of the deals of all deals made in 2011 for $525,000 currently under contract with a listing price of $889,000
  • Hokulani #220 – our listing of a two bedroom/two bath partial ocean view and mountain view purchased from the developer for $640,000 and just recently closing for $775,000. Read about the details of this sale here.

My Blog Series on Honua Kai Condos

  1. Honua Kai Resort in Kaanapali, Maui – Start here, as this blog will provide you with a good overview of the resort including video on its location, and its world class amenities and ownership offerings.
  2. Honua Kai Resort Real Estate For Sale – Kaanapali, Maui Condos For Sale – This post focuses on the inventory actively for sale and where all the units are located.
  3. Honua Kai March 2013 Market Update Report – There has been a significant increase in the level of sales for two bedroom units at the resort. Read all about it here.
  4. 5 Remaining One Bedroom Plus Den Units for Sale at Honua Kai – They are sold out of developer one bedroom units but check out this video blog for this niche units starting in the high $700k range.
  5. Honua Kai 2 Bedroom/2 Bath Condo Sold a Seller’s Perspective – What our seller client had to say about our team selling their property for a $135,000 short term gain.
  6. 2 Bedroom Ocean View Best Buys at the Honua Kai Resort and Spa – Feb ’13 post on the best ocean view and partial ocean view two bedroom units.
  7. 4 New One Bedroom Listings at Honua Kai – Posted on January 2013 be sure to check out these best buys priced under $550K
  8. Honua Kai January 2013 Market Update – What’s happening in the new year at Honua Kai? Are prices increasing?
  9. Honua Kai HOA Fees Increasing By 10% Effective Feb. 1, 2013 – What are the current fees, what do they cover, and what other costs of ownership are involved?
  10. 25% Down Payment Financing Options at Honua Kai – Get the inside track on leveraging your cash investments at Honua Kai.
  11. Canadian Couple From Vancouver B.C. Purchases a 3 Bedroom Honua Kai Unit for $1,900,000 – Did you know that many of the owners at Honua Kai are from Canada?
  12. Honua Kai November 2012 Market Update – The latest news after a crazy year of selling
  13. Honua Kai January 2012 Update – Why Honua Kai is the hottest deal in town right now
  14. Honua Kai Purchase Process – An owner’s perspective of purchasing and experiencing the resort.
  15. 35% Price Reductions on Condos For Sale at Honua Kai Resort – Read about how the developer dramatically slashed the prices at Honua Kai and where some of the best deals are at.
  16. Price Reductions on Honua Kai Resort One Bedroom Units – Video blog on 1-bedroom units that are Screaming Deals.
  17. Honua Kai Resort in Kaanapali – Best Two Bedroom Deals – Video blog on 2-bedroom units that are Screaming Deals.

Aloha from Maui,

Jeremy Stice R (S)
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