Many Affordable Listings Available in South MauiDecember 30, 2014, 12:24 PM HST · Updated December 30, 2:07 PM 0 Comments
By Alexandra Mitchell
There seems to be quite an opportunity popping up in South Maui for first-time property buyers right now. According to Zillow.com, in Kīhei alone, there are approximately 70 individual single-family, fee-simple homes available. This does not include the amount of available condominiums, townhouses, apartments or vacant lots.
This is just single-family residences–some offering an opportunity for additional income or added mortgage assistance with detached and unattached ʻohana (cottages) on property land.
Generally speaking, Maui’s real estate scene has been on the move in the last four to five years. Just over a couple of years ago, Maui was still somewhat of a buyers’ market, with many short sales and foreclosure properties available.
As of late, the trend seems to have been reflecting a shortage of available properties, and stiff buyer competition with an increase in foreign buyers. It seemed like it was becoming a sellers’ market. Either way, with all of this in mind, South Kīhei seems like a great place for perspective first time buyers, and those looking for investment property to explore.
Why are there so many properties for sale in this price range? Are they investment properties being flipped? Is the transient rate high in Kīhei? Is it too hot to live in Kīhei?
Let’s discuss some of the pros and cons of living in Kīhei…
5 Pros for Living in Kīhei:
- Close to beaches and ocean activities
- Convenient access to shopping and dining
- A variety of schools and churches
- Centrally located for commerce-close to Wailea/Mākena locales
- 15-minute drive to West Maui (without traffic)
5 Cons Against Living in Kīhei:
- Houses are too close together, not much personal privacy
- Too close to main tourist areas
- Frequent cane burning ash
- Traffic on South Kīhei Road
- Busy beaches
Would you like to live in Kīhei? What do you think are the pros and cons of being a property owner in Kīhei? Please comment in the section below.