Where can you find a pet-friendly condo on Maui for under $500,000 with cool yet sunny weather, near fantastic beaches and great amenities?
My dad took this aerial photo of Napili in 1979. Photo: John Severson
Napili Villas is located in arguably the best location on Maui. Aside from the sunny yet breezy weather, Napili is minutes away from some of the world’s best beaches and surf. A 5-minute drive brings you to Kapalua with its renown restaurants, resorts, spas, golf, and beaches. Only a 15-minute commute to Lahaina town. Walking distance to the Napili Coffee store, Napili Market, and the farmers’ market.
Napili Villas with the park area to the right
Napili Villas consists of 2 and 3-bedroom condos in 26 two-story buildings, and the frequent misty rain keeps the plumerias and orchid trees green. It’s a great community and both kids and pets enjoy meeting up in the park on the property.
2-bedroom condos in Napili Villas are in high demand and usually are sold within the first couple months of listing if they are priced well. We just sold 135 Punohu Lane #1. I represented the buyer on this one and we negotiated a beautiful downstairs corner unit with windows on 3 sides for $419,000.
The 2-bedroom condo upstairs, 135-4 Punohu Lane (MLS# 370737), just had a price drop to $455,000, is move-in ready, and a coveted corner unit. 127-7 Punohu Lane (MLS# 369404) is listed at $429,000. The average price of 2-bedroom condos sold this year is $432,000, which is back to the pricing of 2004.
127 Punohu Lane #7 (MLS# 369404)
Napili Villas was built in 2002 and our family bought a 2-bedroom from the developer at the end of 2002 for $212,000. The resale prices on 2-bedrooms went up by $20,000 very quickly. By 2004, Napili Villas 2-bedroom condos were selling in the $425,000 range. By 2006, prices were up at their highest in the $500,000 range. The top sale on a 2-bedroom is $582,000 in 2006.
There are currently three 3-bedroom condos available. 12 Ki Ohu Ohu Lane (MLS# 371028) just came up on the market with a listing price of $499,000. The average sold price on a 3-bedroom this year is $484,000.
3-bedroom condos at Napili Villas were originally offered around $290,000 from the developer in 2002. Resales over the next few years were up to $515,000. At the height of the market in 2006, 3-bedrooms were selling for an average of $600,000. The top price for a 3-bedroom was $709,000 at the end of 2006.
Maintenance fees start at $300 and go up to $425 for the 3-bedrooms, which is quite low since there is no swimming pool. Napili Villas has a solid management company that saves up reserve funds to pay for big ticket items such as new roofing, which begins in October 2016. Vacation rentals are not allowed here, which translates to a peaceful atmosphere with local residents and less car doors slamming.
Napili Villas viewed from the Maui Prep playground!
If you would like more information on Napili Villas, please contact me.