Palms Real Estate Market Overview

Palms Real Estate Market Overview

The market at the Palms is extremely quiet, and word of the impending effort to end short term rentals at the complex – along with about 100 other properties in Kihei and Wailea – has prompted three new listings since the mayor’s announcement in early May (see a comprehensive overview of the effort below).
Two of the new listings (units 203 and 604) are 2-bedroom units, and unit 207 (1/2, 1022 sf) is the fifth 1-bedroom to come to market. It has been awhile since we’ve seen so much inventory at the Palms. Pricing on the 1-bedroom units ranges from $1,150,000 (unit 2102) to $1,525,000.
Two-bedroom Palms condos are listed between $1,749,000 and $1,999,000.
We’re likely to see price reductions in the near future as inventory continues to flow. This is an excellent opportunity for investor clients to make aggressive offers. 

Kevin Spaise is a Maui Realtor specializing in Maui vacation rental investment real estate. Kevin is an expert in Kihei and Wailea real estate and has been a full time Realtor for 20 years, with more than $120M transacted. He owns Vacation Maui, a property management company with 70+ investment condos under management, and delights in providing real-time performance data to future investors. See KevinSpaise.com, or call him directly at (808) 344-0624.


Work With Kevin

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!