Haiku, Maui Land Sales in 2015 Up & Down From Previous Year

Haiku, Maui vacant land closings in 2015 were both up and down from 2014.

Sales volume was up, with 22 sold listings in 2015 compared to 19 sales in 2014. Increased inventory contributed to this no doubt, and we still have a lot of properties on the market. With this kind of absorption rate, there are a couple of years worth of raw land listings if nothing else enters the market.

Dollar volume was down from the previous year, with 2015 sales of $12,253,800 compared to $13,111,000 in 2014. The median and average prices for vacant land in Haiku also came down in 2015. Last year the average sale price was $556,990 and the median sale price was $417,500.

Good news for cash buyers. This all makes for good news if you’re a buyer of vacant land, with so many properties to choose from. Especially if you’re a cash buyer. Cash was King for 15 of these sales, and seller financing helped 3 more sales to go through. Only 4 lots closed with conventional financing, and they were all priced below $450,000.

Here’s the breakdown of 2015 vacant land sales in Haiku, Maui:

• 22 closings ranged from $150,000 to $2,000,000. 19 were priced at $700,000 or less. 3 were sold for over $1M.
• Lowest price of $150,000 was for a very challenging 4-acre lot with difficult access and way too many eucalyptus trees on conservation zoned land. No power and no water service, which is typical in this area. This one was on the market for years and years.
• Highest price of $2M was for 131.89 acres with multiple TMK’s (tax map keys), good farm land with subdivision potential. Water meter and views. That’s a whole lot of nice land at a very good price.
• 1 property was oceanfront – 10.2 acres within walking distance to the Jaws surf break in Peahi. Former pineapple lands that have been fallow for a number of years. Sold for $1,425,000 after 190 days on market.
• 12 of the properties came with Maui County water meters, while 2 had private water systems, which in these cases means a well.
• No bank owned or short sales in the bunch that sold last year.
• Lot size varied from 0.56 acres ($205,000) to that 131.89 acres. 12 lots were under 5 acres in size. 7 lots were between 10-20 acres.
• Days on Market ranged from 30 to 617 days, with an average of 197 and a median of 157.

What’s For Sale Now in Haiku, Maui?

• 41 active and pending listings priced between $325,000 and $2,500,000. 10 are priced under $500,000, and another 15 are priced up to $1,000,000. 12 lots are listed between $1M and $2M. 4 are asking over $2M.
• The lowest priced is a 1.26 acre CPR’d lot that shares a well with others in the subdivision. Eligible to build a house of any size.
• The highest priced is an oceanfront 26.7 acres with white water views, in an off the grid setting. Another great deal for oceanfront land.
• With the exception of that cheapest lot, size varies from 2 acres to 52 acres.
• 7 parcels are oceanfront, priced between $1,450,000 and $2,500,000 – including 460 Ho’olawa Rd. for $1,595,000 pictured here… a prime 2 acres that’s fenced and ready to build. Private well water serves the 5 lots in Ho’olawa Point Subdivision.

460 Ho’olawa Rd., Haiku, Maui, HI. 96708 (MLS# 359596)
 

• Pending sales are priced between $360,000 and $1,745,000 – 11 properties in total. Most of them have a county water meter.
• Pending Haiku land properties range in size from 2 acres to 43 acres.
• Nothing oceanfront is currently pending.

 
Haiku, Maui offers a diverse landscape with elevations ranging from 150′ to about 1,600′ or more. Valleys with streams can be lush and tropical and secluded, while grazing lands can be more open and flat with great views and air flow. The rich volcanic soil is productive and agriculture has been a mainstay in Haiku for generations. 

Sugar cane and pineapple have each had a heyday here, and the future looks bright for other sustainable crops. More and more people are discovering how easy it is to have a small scale farm on Maui, where you can grow a wide variety of foods and other crops such as bamboo, tropical flowers, or medical marijuana.

Come and fly over 460 Ho’olawa Road and see for yourself what makes the north shore of Maui so special

We raise beef cattle in Haiku, and finish the steers off at this property pictured above and below, where the salt spray deposits on the grass and supplements their diet to make them super healthy. We love that our beef lives in such a beautiful environment and their lives are blessed until that fateful day when they make a one way trip to…well you get the picture. It’s just a really good feeling to know where your food is coming from, and that you can control what goes into it. That’s why we love living in Haiku, Maui!

Grass-fed beef raised in Haiku, Maui is the best!

Search the Maui MLS for Haiku vacant land for sale, and then let me know if you have any questions I can help you with…

Georgie Hunter, R(S), e-Pro
Direct: 808 283-0635