Real Estate in Makena

Makena Real Estate is known for being one of the most luxurious and expensive areas of South Maui. It comprises oceanfront condos, and one of the best resorts across from Makena Beach, considered a five-star resort. This residential area is highly planned and located amongst some of the most pristine and popular beaches - Makena's Big and Little Beaches, and Maluaka Beach. You will also find the Maui Prince Hotel, also part of the Makena Resort, but in a more secluded area. This hotel counts with two famous golf courses - the Makena Resort North and South Courses. The courses feature beautiful surroundings such as natural gullies, Hawaiian rock walls, and Kiawe trees, indigenous of the area. Located on the southwestern side of island of Maui, Makena, Hawaii, lies along the Alalakeiki Channel, across from Kahoolawe Island and on Makena Bay.

The town is a pleasant old fishing community. When combined with nearby Wailea, which is done for census purposes, the town has a population of about 6,000. Tourism, including accommodation and food services, is the largest industry here, and it employs around one-quarter of the town's population. Like many Hawaiian towns, the market for Makena real estate has struggled in the past few years in tandem with the greater U.S. real estate market. Prices and home values have plummeted and the number of foreclosures in Makena has risen dramatically.   

In August, the most recent month for which statistics are readily available from the Realtors Association of Maui, there were no sales in the Makena market. This is not exceptionally unusual, as it is a smaller community and the real estate market is not a huge one with great volume. In July, there were two homes sold in Makena, and they had a median price of $1.06 million. In August 2009, there was just one home sold in Makena, and it fetched a price of $652,000. Because this market is so small, however, statistics that incorporate data only from a home or two cannot be assumed to be representative of the whole market.    Though the market of Makena homes for sale is quite small, the condo market is slightly larger and more active. In August, there were six condos sold. Together they fetched a median sales price of $795,000, which was an improvement on July's five condos, which had a $738,000 median sales price. These prices were down on the year, but the August 2009 statistic included the sale of just one condo for $2.15 million, so it may have been an outlier.   

Year to date, there have been 20 homes sold in Makena, nearly double the figure for the same time last year, when only 11 homes had been sold. So far this year, the average sales price stands at $3.8 million, an improvement from a year ago by 30%. The year-to-date median price, meanwhile, has increased 13% from a year ago to stand at $1.7 million, up from $1.5 million. The condo market year to date shows similar signs. The total sales volume in the first eight months of the year stands at 76 condos, up 95% from the first eight months of last year, when only 39 condos had been sold. The median condo price year to date has actually fallen 40% year-on-year, though, from $1.6 million to $967,500.

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