Market Spotlight: Honua Kai May, 2022
The Honua Kai is Kaanapali's newest condominium development and one of the most desirable vacation destinations in West Maui. Built in three phases along Kekaa Beach on the North Side of Black Rock, the Honua Kai is comprised of three separate sections: Hokulani (2008), Konea (2009) and Luana Gardens (2018).
The Hokulani and Konea towers feature 627 studio, one, two and three-bedroom condominium residences. The 10 story buildings have central air conditioning, elevators and underground parking. The new addition of Luana Gardens weaves in a more contemporary residential component, with 72 three-bedroom residences. These low rise, two-story buildings feature private garages in three clusters, each around one of three pools.
Guests at Honua Kai have access to adult and family pools, hot tubs, BBQ Grills, Bar and Lounge, fitness center, the Aina Gourmet Market, elevators, valet and self-parking, concierge, porter/bellhop, Ho'ola Spa and Duke's Restaurant (this is a great place to whale watch as you take in the sunset).
Honua Kai: The State of the Current Market
| ACTIVE LISTINGS | 7 |
| Volume | $19,293,000 |
| Low LP | $1,650,000 |
| High LP | $5,725,000 |
| Average LP | $2,756,142 |
| Average LP/Sq. Ft. | $2,432 |
| Average DOM | 48 |
| PENDING SALES | 8 |
| Volume | $20,355,000 |
| Low LP | $1,495,000 |
| High LP | $5,000,000 |
| Average LP | $2,544,375 |
| Average LP/Sq. Ft. | $2,426 |
| Average DOM | 88 |
As of the date of this post, the Honua Kai has seen 21 sales at a volume of $58,293,875 and an average sales price of $2,775,889 and $2,035/sq. ft. This is close to half of the sales volume ($) of last year in about 1/3 of the number sales at a significantly higher sales price per square foot.
Honua Kai Sales: A Historical Perspective
| Honua Kai | Q1 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
| Sales | 15 | 63 | 72 | 57 | 40 | 26 |
| Volume | $43,999,875 | $121,182,648 | $137,972,250 | $91,809,500 | $64,235,287 | $48,909,944 |
| Low SP | $1,675,000 | $807,500 | $735,000 | $774,000 | $695,000 | $675,000 |
| High SP | $5,899,000 | $5,400,000 | $3,199,000 | $3,300,000 | $5,725,000 | $3,775,000 |
| Average SP | $2,933,325 | $1,923,534 | $1,916,281 | $1,610,693 | $1,605,882 | $1,438,528 |
| Average SP/Sq. Ft | $2,025 | $1,498 | $1,139 | $1,190 | $1,357 | $1,286 |
| Average DOM | 84 | 137 | 404 | 318 | 117 | 126 |
| AVG SP/LP | 98% | 98% | 98% | 98% | 98% | 97% |
For more information on the Honua Kai condos for sale, contact Courtney M Brown, R(S) with Island Sotheby's International Realty
View Honua Kai Condos for Sale
Honua Kai | Kaanapali Condos for Sale
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