Honua Kai 3 Bedroom Ocean View Unit Sold for $1,900,000

Congratulations to Paul and Colleen McElligott of Vancouver, BC on their recent purchase of a 3 bedroom/3 bath unit #629 at the Hokulani Tower of the Honua Kai Resort and Spa. As with just about all of my interactions with Canadian clients, I had a wonderful time working on behalf of this fantastic couple and am very glad that they have secured a fantastic second home in Maui for them to spend time with friends and their 3 children.

The view from the front lanai at Hokulani #629

A Few Words From Paul and Colleen

“My wife and I retained Jeremy Stice to assist us with the purchase of a 2nd home in Maui. Jeremy was easy to work with, very accommodating, and very knowledgeable about Maui real estate. We were torn between two different regions of the Island and he showed us several homes, both new and old, at both ends that were within our price range.

We enjoyed his company and the fresh fruit he provided while touring us around. He not only assisted with the negotiations on securing what we believe was an attractive price, he went above and beyond the call of duty dealing with furniture issues I just could not deal with from Canada. He was delightful to work with and I would not hesitate recommending him to anyone contemplating a real estate sale or purchase in Maui.”

Hokulani #629 overlooks the entire inner courtyard and has tremendous ocean views and views of the island of Lana’i as well

The Purchasing Process For a Honua Kai Condo

The McElligott’s had stayed at Honua Kai several times before purchasing and looked at a couple of the units there. Paul and I came in contact via email as he contacted me after reading my series of blogs on the resort (www.HonuaKaiBlog.com) and liked the information that I was sharing. I did my best to educate Paul and Colleen about Honua Kai and Maui as a whole as I was born and raised on the island, and am very knowledgeable and passionate about my home. We communicated regularly for a couple months before they decided to come out to Maui to start making some decisions.

We went property shopping for a couple of days initially looking at resale “>units at Honua Kai and then transitioning to looking at some vacation rental condo units in Wailea: Wailea Ekolu, Wailea Point, and Hoolei. They really loved a three bedroom unit at Hoolei listed at a little over $3 million and this was something that they had a very hard time letting go of. Hoolei and the Wailea Beach Villas are likely to attract similar buyers to Honua Kai because of their newer construction, high level of finish and quality, and excellent amenities.

Part of the purchasing process for the McElligotts was deciding if they wanted to invest more and secure a three bedroom unit versus a two bedroom as they had originally been planning on. In the end, they decided that they would focus on a 3 bedroom developer unit because it accommodated their larger family better and they liked the increased rental revenue from the 3 bedroom.

We all really liked this 2 bedroom ocean view resale at Honua Kai and agreed that this was likely the best buy for a two bedroom unit in the resort

Konea 505 (pictured above) is a 2 bed/2 bath true ocean view unit priced at $1,667,000, which is about $100K than what the seller paid for it (MLS# 352549). This unit is rated a 91 on the Hawaii Life Value Score. This is a gorgeous unit and the top value for a two bedroom ocean view unit in the entire resort in my opinion. Here is the high definition video for this unit.

Negotiating for a 3 Bedroom Honua Kai Unit

After going back and forth with the developer on offers and counter offers, we were finally able to come to an agreement on Hokulani 629 listed at a little over $2,225,000 at a final sales price of $1,900,000, which included about $100,000 of custom furniture…The buyers were very pleased with this price and overall I think this was a tremendous buy considering that the final net sales price was about $500,000 less than what the original buyer had this in contract for back in ’09 or so when taking all aspects of value into consideration.

Purchase the Bed Frame First

As part of my commitment to service in working for Paul and Colleen I assured them that I would help them change out a split king bed and some other furniture in one of the bedrooms as this best suited their needs for their family. Furniture shopping can be very limited on Maui, so I basically trekked all over the island to find the right pieces and I learned the lesson the hard way that it is imperative that you purchase a bed frame before the mattress and box spring. 

I found two beautiful double bed frames that had a built-in box frame after I had already purchased box frames and a metal frame, so we had to deal with a cumbersome return on these items. In any event, we were able to get this all worked out as the McElligotts got the two double beds that they wanted and I was able to sell and remove their unwanted furniture for them. I do want to extend a big Mahalo to Graham Jackson who works for Powerplay Destination Properties Hawaii at Honua Kai as he was of tremendous assistance throughout these endeavors.

Giving Thanks Aloha Style

At the conclusion of the sale, my fiance, Megan, and I took Paul and Colleen out to lunch further up north to one of our favorite destinations, The Seahouse Restaurant. This was a great experience for all of us to to share some laughs, give thanks, and for Paul and Colleen to learn about some of the great things to do north of Ka’anapali where Honua Kai is located.

The Seahouse Restaurant can be seen in the distance as it sits directly on the Shores of Napili Bay

I shared with them that when it gets windy in Ka’anapali, heading up to Napili Bay for snorkeling and SUP paddling can be great fun as the bay is quite protected. For more sites and sounds check out this property we just listed fronting Napili Bay www.NapiliLani332.com.

My Honua Kai Blog Series

1. Honua Kai Market Update Jan’13 – 29 Developer units contract, 4 resales under contract, lots of developer and resale inventory still available.
2. Honua Kai Resort in Kaanapali, Maui – Start here, as this blog will provide you with a good overview of the resort including video on its location, and its world class amenities and ownership offerings.
3. Honua Kai Resort Real Estate For Sale – Kaanapali, Maui Condos For Sale – This post focuses on the inventory actively for sale and where all the units are located.
4. 4 New One Bedroom Listings at Honua Kai – Posted in January 2013, be sure to check out these best buys priced under $550K
5. Honua Kai November 2012 Market Update – The latest news after a crazy year of selling
6. Honua Kai January 2012 Update – Why Honua Kai is the hottest deal in town right now
7. Honua Kai Purchase Process – an owner’s perspective of purchasing and experiencing the resort.
8. 35% Price Reductions on Condos For Sale at Honua Kai Resort – Read about how the developer dramatically slashed the prices at Honua Kai and where some of the best deals are at.
9. Price Reductions on Honua Kai Resort One Bedroom Units – video blog on 1-bedroom units that are Screaming Deals.
10. Honua Kai Resort in Kaanapali – Best Two Bedroom Deals – video blog on 2-bedroom units that are Screaming Deals.

Aloha,