Ground Floor or Second Floor in Maui Condos: Which Are More Valuable?

I often get the following question: “Which Maui condos sell for more, ground floor units or second floor units?” Through the magic of data mining I will attempt to answer that question.

First, I’ll give you my recipe:

1) I decided to work with three complexes that all share an almost identical floor plan: Kihei Villages, Southpointe at Waiakoa, and Keonekai Villages.

2) I pulled SOLD data from today going back 2 years for ground floor units only and SOLD data from today going back 2 years for second floor units only.

3) I then compared the number of units sold and average sales price.

The results show a very clear pattern:

Ground floor units sell far more often and command a higher price than second floor units.

Here’s the proof:

Southpointe at Waiakoa

• Ground Floor units sold: 36, Average price: $234K
• Second Floor units sold: 27, Average price: $217K
• On average, ground floor units are worth $17,000 more

Link to active listings at Southpointe.

Kihei Villages

• Ground Floor units sold: 45, Average price: $239K
• Second Floor units sold: 28, Average price: $220K
• On average, ground floor units are worth $19,000 more than second floor units

Link to active listings at Kihei Villages.

Keonekai Villages Kihei

• Ground Floor units sold: 17, Average price: $272K
• Second Floor units sold: 14, Average price: $244K
• On average, ground floor units are worth $28,000 more

Link to active listings at Keonekai Villages.

Which Do You Prefer?

Interesting, huh? Now this does not hold true for all condos in Maui, but the numbers certainly tell a story about these three complexes. Other properties may have better ocean views from second floor units. Everyone has their own personal taste – some like the “treehouse” feeling of being on the second floor. Some are gardeners and love having some garden space. Which is your personal favorite?

If you would like to purchase property in these complexes or any other, please contact me and I would be happy to set up some appointments.

Liam S. Ball, Realtor Broker
liam@hawaiilife.com
808.280.7809