A blaze of buyers has swept over the condo market on Maui leaving owners wondering if they should cash in before it's too late.

WAILEA, HAWAII, UNITED STATES, August 6, 2021 /EINPresswire.com/ -- Maui is known for its beautiful beaches and consistently beautiful, tropical weather year-round. Summer is typically a little warmer than winter, but this summer, the heat has turned way up in the Maui condo market. With 23% of the 206 condos sold on Maui in July of 2021 going over the asking price, the median sold price for a condo has reached $711,500.

Since October 15th, 2020, when the 14-day mandatory quarantine was lifted, Maui has experienced a steady return to average and even above average tourism numbers. During this time, the pent-up demand for condo ownership has been unleashed culminating in the current market situation. Many financed buyers are left wondering if it's even possible to get an accepted offer in the current market without being able to pay all cash. Almost half of all sales on Maui YTD have been all cash transactions. Coupled with this is aggressive bidding, where units can go for 10% or more over the asking price.

The short-term vacation condos on Maui have been especially subject to this aggressive all-cash bidding war. The County of Maui has severely limited the development of future short-term rentable condo projects and supply has gotten very far behind demand. These restrictions by the County are ultimately a good thing for the people of Maui where the cost of an average 3bd/2bth single-family home is around triple the national average.

Resort areas like Kihei, Wailea, Ka’anapali, and Kapalua are especially popular for those looking for a vacation condo on Maui.

Owning a condo on Maui is the ideal situation for many people who want to make their dream of living in Hawaii a reality. With breathtaking views, spacious living areas, and the world-class amenities that surround all of the condos for sale on Maui, it’s widely considered a dream destination. If you think this kind of living is exactly what you’re looking for, be sure to consider some of these condos for sale on Maui, each of which provides their own list of benefits.

Wailea

Wailea was developed in 1971 and has quickly become one of the most popular places on Maui. With a population of nearly 6,000 people in the 2010 census, there is a large demand for Wailea condos. Fortunately, there are several condo complexes in the area for you to choose from. The spacious condos at Ho’olei start at 3200 square feet and offer three bedrooms with stunning tropical views from the covered lanais that are standard with each unit. Honua Kai condos come in three different sizes, ranging from single bedrooms to units with three bedrooms while also providing an on-property aquatic center that gives you the choice to stay home and still enjoy a day in the water. Finally, Wailea Point is an exclusive condo complex located between Polo Beach and Wailea Beach. These condos are surrounded by world-class golf courses, fine dining experiences, shopping, and more.

Ka'anapali

Condos in Ka'anapali are some of the most sought-after anywhere in the world. Starting with The Masters, an exclusive complex positioned at the top of the Royal Kaanapali Golf Course, this complex was built in 1991 and is widely regarded as having some of the best views anywhere on the island. Since vacation rentals are not allowed in this complex, residents enjoy a quieter, more laidback version of island living. Honua Kai condos range in size between one and three bedrooms and include a full gourmet kitchen. In addition to the aquatic playground, fitness center, and spa, you’ll also enjoy fast access to white sand beaches and the ocean. Finally, Ka'anapali Alii condos are a beachfront community that provides easy access to parasailing, snorkeling, and all sorts of other activities that put you in touch with the island’s natural beauty.

Kapalua

Finally, Kapalua condos for sale are some of the most popular among those who are ready to leave the chaos of life on the mainland and embrace the relaxing lifestyle associated with island living. Montage Residences offer quick access to some of the island’s most coveted swimming spots where you can snorkel, scuba dive, and enjoy the pristine blue waters. While you can enjoy the gourmet kitchens in each unit, you can also dine at the on-site restaurant, Cane & Canoe. Kapalua Villas is a part of the 22,000 acre Kapalua Resort. That location gives you access to three beaches, 11 golf courses, a golf academy, tennis courts, and hiking trails. Finally, Coconut Grove is situated directly in front of the clear waters of Kapalua Bay. These units provide a hybrid of modern living with traditional architecture and landscaping.

If you are looking at condos for sale on Maui, you should work with a realtor who is familiar with the area and has developed a reputation for getting his clients the best deals possible on the home of their dreams. Contact Evan Harlow today to find out how Evan can help you make all of your island dreams a reality.

Evan Harlow - Maui Realtor
Maui Elite Property
+1 8082144799
evan@mauieliteproperty.com
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