Located in Maalaea, Hono Kai is a condominium complex set directly on the oceanfront. Some units at this charming property feature direct ocean views.
It is located on the end of Sugar Beach, offering easy access to the longest stretch of beach in Maui. It’s also right in the center of Maalaea Bay, known as one of the best humpback whale watching spots in the world. Maalaea Boat Harbor is a short distance away.
The complex has both fee simple and leasehold properties with expiry set for 2032. It is made up of four three-story buildings without elevators with units ranging between 555 and 805 square feet. Each has a lanai with some ground floor units having a private enclosed patio spacious enough for entertaining. The two-bedrooms boast a lofted bedroom area and high-vaulted ceilings for an airy feel.
Many condos have also been upgraded with air conditioning, a mix of wall units and split systems. Although there are no ensuite washers and dryers, laundry facilities are conveniently located on each floor.
The verdant grounds of Hono Kai feature tropical foliage like hibiscus flowers and plumeria trees. Fronting the beach is an enclosed pool and grassy lawn, both with loungers to enjoy the view. Nearby is a barbecue area with gas grills and tables.
Over the past three years, there is 1 or more years with 0 condo sales in Hono Kai, which makes making a graph not very relevant. The graph above, therefore, represents all Maalaea condos, which provides a larger dataset and greater statistical significance for drawing meaningful conclusions.
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We exclude Leasehold data from this market analysis because Leasehold properties do not compare with regular Fee Simple properties.
We use median instead of the average because it depicts more accurately a central tendency to the sample size. Example: Take 5 numbers - 3, 5, 7, 9, 21. The median is 7 (the middle number) and the average is 9 (sum of all divided by 5).
We count days on market from listing date through closing date.