South Maui is a coastal strip that is geographically located on the island’s southwest coast. Starting from North Kihei, South Maui extends towards La Perouse Bay. Home to the famous beaches of Wailea, Makena, and Kihei, South Maui is a popular tourist destination in Maui. It has spectacular scenery and is home to exclusive golf courses and resorts. It’s also home to beautiful residential communities where you will find some of the island’s best condominiums and home properties.
Investing in a real estate property in South Maui requires a bit of research. As you know, the real estate industry tends to be unpredictable during this time of the pandemic. If you are not familiar with the real estate industry, you will find it difficult to decide whether it’s the best time to purchase a property or if you need to wait for when the market gets better. Savvy investors looking to invest in property tend to refer to real estate market trends before making a decision. So if you plan on buying a property in South Maui, it’s worth looking into the latest Maui real estate market trends.
Most people who plan on moving to Maui would consider living in South Maui, and it’s easy to see why. The south side of the island has many great beaches, and some of these beaches do not have a resort or homes developed close by. Of all the areas that make up South Maui, Makena is the least populated and is a ruggedly beautiful area of South Maui. Wailea is a more affluent area home to exclusive golf courses and luxury resorts. Meanwhile, Kihei is where you will find a beautiful community with more affordable real estate properties.
If you are in the process of looking for a real estate property in South Maui, take the time to read the latest South Maui real estate market trends. That way, you will know if now is the best time to buy a property.
The Wailea-Makena area is one of the best places to live in South Maui. It’s close to the beaches and with plenty of adventures waiting for you to do. The area also gives you easier access to Hana or Haleakala than living in the west. Above all, Wailea-Makena enjoys a superb climate all year round.
In November, units sold for single-family homes decreased from five in October to only four. However, the median sales price has significantly increased from $2,500,000 to $15,250,000. This data shows that despite the decrease of home properties sold, the cost of properties has increased.
Wailea/Makena is the perfect area for sun-seekers looking for a more secluded and rustic setting for their beach holiday in Maui. The area is also home to several condominiums, and most of these have easy access to the best beaches in South Maui. For those looking to invest in a Maui condo, Wailea/Makena is an area that’s worth looking into.
In November, the number of sold condominium units in Wailea/Makena was 16, with a median sales price of $2,336,500, a slight decrease compared to October, when 18 units were sold. However, the median sales price in November is higher than in October, which was $2,046,500.
Kihei is a great place to live in South Maui mainly because the rent and home prices are lower than in other areas like Wailea. However, you will only be a short drive away from Wailea and Makena. While the area has plenty of condominium complexes, it also has many residential neighborhoods with plenty of beautiful homes.
In November, the number of single-family homes sold in Kihei was 11, having a median sales price of $975,000. Meanwhile, there were 22 properties sold in October at a median sales price of $1,062,000. This data shows a decreasing trend in the number of home properties being sold in Kihei lately.
Kihei is home to great condo complexes, and most of these are fronting the beach, offering plenty of water sports activities. When living in Kihei, you will also be close to Central Maui, particularly in Kahului, where you can make your grocery runs, as it is home to Costco. Investing in a condo unit in Kihei is a good idea, especially if you’re looking for affordable units to invest in.
In November, there were 55 condominium units sold in Kihei, with a median sales price of $680,000. This is a significant increase compared to October, when there were only 35 units sold at a median sales price of $615,000.
Maalaea Condos for Sale
Maalaea is an oceanfront enclave in Central Maui that is far from the tourist radar. So, if you want to live away from the tourist crowds, this peaceful little village is a great area to consider. Maalaea is also home to some condominium complexes, some of which are nestled beside the beach.
Three condo units were sold in Maalaea in November and have a median sales price of $570,000. Meanwhile, October saw four condo units sold at a median sales price of $635,000.
General Maui Real Estate Market Overview
The real estate market trends of November 2021 show that the economy is slowly improving. In fact, the unemployment rate in the United States is decreasing, which also contributes to the improvement of the economy. The real estate market in the country remains strong, especially as we are heading to the holiday season. It’s a time when most people will go on holiday and spend quality time with their family. Although the real estate market in Maui is not as active as it was earlier in the year, there’s an increasing demand from buyers looking to move to Maui. The demand may be due to the attractive mortgage rates and low supply of inventory.
If you are thinking of investing in a property in South Maui, or perhaps you have a property here that you plan on selling, we are here to offer expert advice. We can also provide you with all the information you need and assist you in every step.