Search Short Term or Long Term Condos on Maui
Among other things, the island of Maui is known for its beautiful beaches, year-round sunny climate, and as a place to live the ultimate island lifestyle. Those who know Maui know that there are a variety of ways to enjoy the island as well as a variety of places to stay on here vacation or live full time. If you’re interested in Maui condos for sale or Maui condos on the beach, there are several things to take into consideration as you begin your search.
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Are you looking for a complex that allows short term rentals or a complex that only allows long term living? Are you planning on renting the condo? Where on Maui do you see yourself owning a condo? Looking for a Maui condo as a primary residence or as an investment property? And, of course, how much is your budget? These top-level questions can help you begin to narrow your search. Each category of condos comes with pros and cons for different types of buyers. Searching for a Maui condo on the beach? There are plenty of those, but they do carry a premium on price.
For example, some may find a short-term rentable condo ideal as their primary residence but learn that the HOA fees are higher than they can accept. HOA fees are generally higher in complexes that allow short term rentals as they have more amenities. They can also carry a higher price tag per square footage because their value as vacation rentable money makers is baked into their price. The Maui condo market is also in motion with great units coming up for sale regularly, you can start your search with Maui Elite Property to make sure you don’t miss the chance to own your dream beach condo.
Of the many Maui condos for sale, a higher percentage of available inventory is at complexes that allow short term rentals. These units sell in a shorter cycle than long term living condos. Owning a short-term rentable condo on Maui allows you the opportunity to generate a significant amount of rental income from nightly and weekly rentals. It also gives you the opportunity to stay at the condo as much as you want.
Short term rentable condos are more common on the south side of Maui and the west side of Maui as they are the two main resort areas on the island. The south side of Maui, including Kihei, Wailea, and Makena, is a wonderful place to own. Many of the complexes in Kihei offer ocean views or mountain views of Haleakala. These communities offer that ideal Maui lifestyle that you’re looking for with great beaches, activities, and restaurants. The same can be said for West Maui’s communities of Lahaina, Kaanapali, Napili, and Kapalua.
Wailea Beach Villas on Wailea Beach[/caption] Condos for sale in Kihei and Wailea are heavily bought and sold making it one of the best markets to invest in. Many complexes in this area offer the type of island life you’re looking for. Sugar Beach Resort in North Kihei is a fantastic oceanfront complex that receives great occupancy rates along with that ocean view. Kamaole Sands in South Kihei is a larger complex that has a perfect location with access to the Kamaole beaches and the shops and restaurants of the area. Getting into Wailea, the complexes become increasingly more high end and go up in price as well as nightly rates. Wailea Point is an oceanfront masterpiece with units that can command up to 8 figures.
West Maui has no shortage of complexes to choose from. In the short-term category, the Maui condos for sale in Lahaina are primarily at two affordable (for Maui) complexes, Aina Nalu and Lahaina Shores, and one high-end complex, Puamana. Getting into Ka’anapali there is a wider variety of units at oceanfront properties like Ka’anapali Shores, Honua Kai, and Papakea. Kapalua is host to some of the finest real estate on Maui with exquisite offerings at destinations like the Montage Kapalua Bay and the Kapalua Bay Villas.
If you’ve decided you want to live on Maui or have vacation condo you prefer not to rent out to the public, a long-term complex is going to provide the best value. Typically, quieter, with less tourist traffic due to restrictions on renting, these units offer real estate ownership on Maui for the lowest prices. Lahaina offers one of the best complexes for locals at Opukea. A quiet complex with a great pool and barbeque area.
Kihei and Wailea also have many great choices. Maui condos like the newly constructed Kamalani, Kai Ani Village, as well as Kai Malu and many others. HOA fees are always a consideration when purchasing any type of condo on Maui and they differ complex to complex in terms of what costs they cover.
A homeowner’s association, known informally as an HOA, is developed when a planned community like a condominium complex is created. When you purchase a piece of property under an existing HOA you become subject to its rules of ownership and associated operating fees. A board is elected to regulate the association and its policies as well as enforce the CC&R’s, the covenants, conditions, and restrictions.
Many people cringe at the sound of HOA fees, but they are a necessary part of maintaining the property. HOA fees usually include all the same costs you would have with residential ownership. Electricity, water, trash, sewage, landscaping, and other amenities like pools or tennis courts are costs covered in most HOA fees. Since you’ll want to know where your money is going and that it's managed properly, you’ll want to be an active participant at your HOA’s meetings.
The advantages of being in an HOA are that many of these details of home-ownership are covered making the process of owning slightly easier. You’ll also benefit from the uniformity and expectations of the community.
If you’re looking for Maui condos for sale, begin your search with a local Maui realtor who knows the market and knows how to get you the best deal. Whether you’re looking for a short-term rentable condo or a place to live long term, Maui has a unit for you.
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Get started on your journey to owning property on Maui by getting in touch with us at Maui Elite Property.
Listings provided courtesy of the REALTORS® Association of Maui.
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