Maui Meadows Market Report
The unique appeal of the hillside Maui Meadows neighborhood, which overlooks Wailea and is the only subdivision in South Kihei to feature half-acre lots and, continues to drive the market upward – although we’ve recently seen increased inventory and less of a fever-pitched buyer vibe. As this is written, there are eight active listings, and there have been six closed deals in the last five months. Two properties are pending (in escrow).
My family has been in Maui Meadows for the past six years, and was drawn to the neighborhood by the oversized lots, available ocean views, proximity to the Wailea beaches (four minute drive), and the dark, quiet nights (no street lights, and on many streets, zero traffic). Our property features avocados, papayas, mangos, lemons, oranges, tangerine, starfruit, figs, and bananas – an array that is not unusual in the neighborhood.
Another draw to Maui Meadows is the zoning, which allows for at least one cottage, and in some instances two ancillary dwellings. Many absentee owners like having a presence on property, as well as the income of a high-demand rental area (a 500-700 square foot cottage can bring $2,000+ monthly).
In more typical real estate years, it was common for us to have 15-20 listings to show clients, of the 500+ total homes in Maui Meadows. Today’s seven listings range in price from $950,000 to around $4 million. An entry-level Maui Meadows property, like 473 Hoala (MLS# 396602) is generally under 1,000 square feet and lists at around $1 million, or higher. Hoala is one of the lower streets in the hillside neighborhood, and it’s not out of realm for cottages in the upper part of the subdivision to sell for $1,400,000.
Expect to star in the $2M range for a home in the 2,000 square foot range, and around $3.5M for a showcase home with a cottage and pool, with a view. There is currently a well-worn fixer on market at $1,595,000 (3140 Akala), but it has been a multi unit rental property and with 5-bedrooms and less than 1800 square feet, will require substantial investment to bring it to condition. Akala is a lower street.
One example of a higher-end property is 3343 Kuaua Pl., a 3/3 with 2,277 sf, a cottage, and pool. It's listed at $3,750,000 (MLS# 397014).
Maui Meadows is not only my home neighborhood, but it’s also my market. I know the area frontward and backward, the back stories on the properties, and I even have a listings that will come to market in the next several months. Here is a link to Active Listings:
Stay up to date on the latest real estate trends.
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Whether you're just starting to explore the options and want a quick overview of the areas and pricing, or specific properties have caught your attention, I would so appreciate the opportunity to share my knowledge and insight with you. Warm Aloha!
