Maui Real Estate: 3 Luxury Oceanfront Auctions — How to Instantly Save $400K

Hey, aloha guys, Eric West here, hawaiirealestate.org. Hey, if you've ever dreamed of owning an oceanfront home here on the beautiful island of Maui, this could be your chance. Three oceanfront homes are about to hit the auction block here on Maui, Hawaii. And if you get the insider scoop right now, you can save up to $400,000 in commissions. Now here's the part a lot of auction buyers don't realize working with a buyer's agent like myself costs you absolutely nothing. So the reason I'm shooting this video for you is I want to give you the alert it's really important and it's also super, super important that you register for this auction before October 22nd. And why is that? Well, the way this process works is there's an incentive to register early. And if you do, you will receive a 50% reduction on the buyer side commission cost, which is completely paid for by the buyer. And it's 12%. So if you register before the auction begins on October 22nd, you will save 6%. And with these auction prices, that could mean anywhere from 400,000 up to a million dollars. If you purchased all three that you would save in commissions just by registering early. So I'd love to help you with that process. Another thing that a lot of people don't know is that if you hire a buyer's agent, such as myself to help you with this auction, my commission is not paid from the buyer side commission that is all paid for by the seller. So ultimately you can have your own personal representation with a buyer's agent and I can help you register. I can make sure you get all the data that's required to make a very confident bid, but also I'm here to do any inspections you need. I can do a walkthrough, I can take a FaceTime video. I'm here to serve you ultimately to make sure that you get the absolute best service and also hopefully get the winning bid. So in this video, what I'm going to do is I'm going to do a deep dive. So stick around if you want me to go show you each of these properties. I've got some photos, I've got some videos, I've got some comparable analysis that I'm going to do in this video as well. But ultimately I know these properties really, really well. Matter of fact, I have shown them in the past to previous buyers that were interested and I can tell you each one of them is spectacular. Two of them are located right here on the beautiful West side of Maui, just north of Lahaina town. I'm going to say from where the burn happened, uh, you know, maybe five or six miles to a good distance from Lahaina, but very, very prime area, right? Sort of a little bit south of Napili, sort of the Kahana area just north of Alai Loa, if you know that particular complex. And the other property is located on Maui's North shore, just north of Paia. Again, a very spectacular property. All of them I think, uh, would be, you know, dream, once in a lifetime dream properties to own. So let's jump into the computer and I'll show you around, but please be sure to reach out directly to me. My cell phone is 808-298-2030. I will also put a link in the description of this video if you prefer to register that way, but I'd love to connect with you very soon. All right, let's go look at the details. All right, let's do a deep dive into each one of these properties. So we're going to start with 5163 Lower Honopi-Ilani Road. So what I like to share with you is you'll notice in this image right here, there's two houses right next to each other. So it could be a little bit confusing, but they're sort of sister properties if you will. And the one that we're going to talk about right now is the one to the left, the 5163, the slightly larger property. But these properties were basically a family compound. So I think it would make a lot of sense for someone if they can afford it is to purchase both properties because they really do go wonderfully together. And I'll tell you the story a little bit about who this, who owned this and sort of what their setup was. But before we go there, let me show you exactly where this is on the beautiful Island of Maui. So here obviously we're looking at the Island of Maui just to give you an orientation, you know, where we are in the Island chain, of course. And then this is located over here where this red marker is in on the, the North end of the West side, just North of Lahaina town. Uh, if you're, you know, the, the, so, you know, it's a long ways from where the fire happened. This is Lahaina obviously where the fire happened. So you'll see way up here on the coast, we have 5163 lower Honopiilani road. So this is the property, the bay that you can swim to from this property. You can actually climb down these rocks right here and go into this little bay. And this is right next to Alai Loa. This is a very premier oceanfront property. And then just to the North is Honopiilani Cove. So it'd be probably a long way to swim to get to that snorkeling bay, but certainly very close to this little one right here. And then if you're a surfer, this is called Little Makaha right here, Little Makaha. So it's a great, great surfing spot. So anyway, that gives you a little orientation of where it is very close to obviously Kapalua, um, the Pili Bay, Kapalua Bay, and just a very, very sought after location here on the beautiful Island of Maui. So let's go back into some of the images. You can show you some of the gallery shots that we have of the property. Now this property was owned by a gentleman named Jay. He was a very well known furniture dealer here on the beautiful Island of Maui. And this was his family home. So this house has actually never traded before. He did pass away. Um, but it wasn't a second home or something that wasn't tended to. This was his personal home and he was a well-to-do individual. So that's how it was important to know because he put the, uh, you know, put the money into the house and took very good care of it. So I've shown this house a number of times got this close, uh, for my buyers making an offer, but it didn't come, it didn't come together. But one of the things I really love about this home is the fact that it's basically moving ready. You would not necessarily have to do anything to it. Um, and it's all very nice, beautiful high end finishes, and also the orientation of the, of the view corridors, basically directly towards Lanai, Molokai, but facing a little bit to the South. So you have the perfect orientation for those year round sunsets. Let's see a quick look here at the video. Believe it or not, my son, Colton, he actually shot this video. He does a little, uh, photography business here on Maui. And so he actually is the guy that shot this video right here. So, um, I think he did a wonderful job in the comments. Let me know if you agree. And then after we watch a few moments of this video, we'll go and look at some of the most recent comparable sales, the assessor, uh, assessed value of the property. And then also what I think it will trade at more than likely. So once again, just a beautiful property. And this one, unlike the one next door, that's getting sold at the same time, this one, as I mentioned, does have direct access down into the ocean. Granted, you'd have to kind of time it right in terms of the ocean is not too rough. It's maybe a high tide, but there's a way that you could slip in through the rocks and go over and do some surfing or some snorkeling. Um, but there is no sandy beach down there. The other home does not give you access down to the ocean unless of course you own both properties. Then, you know, you could give your the other property access to the ocean, but this is the only one that has access down into the water itself. Okay. So there's a few clips there of the property and now we'll jump into the MLS system. And I'd like to show you, uh, some of the comps. Well, before I do that, I actually did export everything into this Excel spreadsheet for you. So here are all the oceanfront sales in the West side of Maui, uh, since 2024. So we've had what six properties trade. The most recent is one here at the very top. That was 34 Papua place sold for 3.2. They're asking four and a half, about a thousand bucks a square feet, 1017. So if that, if you applied that comp directly to this one, it would be a value of about $3 million. Now you have to understand the one that just sold, it had a fire in it. So, and it needed to be completely remodeled and gutted and was in very rough condition, extremely rough condition. It also faced due North. So not the greatest, you know, angle for sunsets and, and, you know, very, very, uh, small lot as well. You can see it's 0.1747, um, versus these are 0.2 and 0.377. So close, but definitely this one did not have, um, even, I think room for a pool, the one that sold, whereas both of these properties obviously have pools. So that would be the very, very low end of value with 3 million. But the next comp I think is actually a little more compelling and that's the 29, uh, uh, Hale Malaya place and that one sold for 6.55. They were asking seven to nine. And if you extrapolate the price per square foot, it's about double 2015. And that lot size is a little more comparable at 0.3. Now that home does need to be remodeled. So you, you know, so to me that's actually a low comp. So the one that we're talking about right now, 5163 should trade for more than $2,000 a square foot based on that comp alone, which is at 5.8 and that's obviously the asking price. So I think anyone that buys this property, even at full 5.8 would be doing very, very well or 5.95, excuse me, would be well within the comparable fair market value range for today. And you can see that one just closed on August 22nd of this year. So in my opinion, this property 5163 will probably trade somewhere close to that or somewhere in the mid fives would be my, would be my yes. So, but I think the comparable value does totally support that. Last thing I want to show you is the, uh, accounting assessor's record. So the current assessment for this property is 4.5751, which I think is very, is low. Um, but that's okay. Usually, uh, uh, assess values do kind of trail a little bit, the market value. And right now everything's kind of in flux cause the market's in flux. So I believe that's definitely a low assessment and the current taxes on the property of 49,785 as you can see, it bumped up, you know what five fold. The reason for that is when the owner lived there, which he did, um, he had the homeowner's exemption on Maui, which is the lowest tax bracket. And now obviously it's come up to the second home value because it's no longer owner occupied. Okay, now let's look at the neighboring property right next door. So just 5157 lower road. And, um, let's also look at that on Google earth. Just so you get a sense of where it's located. Again, here we are looking at the beautiful Island of Maui and it's on the West side. Here's Lahaina town, which is obviously where the fire occurred. So it's a long way from where the fire happened obviously. And then right here on this red dot is where the home is located. So this is 5157 just to the North of it is 5163. And as I mentioned, these were both owned by the same family and the kids would sort of hang out or the guests or the teenagers love 5157. It's kind of, in my opinion, it's probably the party house cause it's got the pool on the inside. But one of the biggest differences, obviously it's a little bit smaller, but it does have its own separate Ohana, which is nice, sort of a one bedroom Ohana, but it does not have any access to walk down to the ocean. Whereas the other one does. So if someone were to purchase these two together, then this home, obviously you could get down to the ocean. But if you just bought 5157, there's really no way to get down to the ocean from this particular spot. So let's take a look at some of the images we have here. Again, very, very similar view orientation. Here's that very unique indoor pool and hot tub. So again, the guy that built this, Jay, I mean, he was having a good time for the family, right? I mean, what a perfect oceanfront compound for kids, right? I mean, it's so cool. So there's some of the shots of it and let's go through just a few clips of the video that was shot. Here we go. And I also have shown this home. This one has been on the market for quite a while. So I'm going to show you the listing history. And, um, what I was told is that this, this property was sold to somebody and the family that owns it now carried it during that period of time. So it was an owner carry and ultimately the person they sold it to couldn't continue to perform on those mortgage payments and it reverted back to the family. Um, but the individual that purchased it on that owner financing was trying to sell it for quite a while at what I believe are incredibly inflated market prices. And it didn't work obviously, but that's a little bit of the backstory behind this. And let me show you some of that listing history right now. So here's the MLS system. You can see it was sold, um, back in 2022 for 5.5 million. So it sold for a little bit over asking. They were asking 5.495. Then he tries to sell it at 6.9 million and then drops it to 6.2 million, then drops it to 5 million, then tries it again at 5.945 and ultimately right now it's on the market for 5.85 going to auction. But let's see how that stacks up against some of the comparable sales recently. And here we go. I've got them all in Excel spreadsheet for you again. And the two most relevant sales in my opinion are the most recent, which would be 34 Papaua place, which sold for 3.2 million. They were asking four and a half works out to about 1017 a square foot. But keep in mind that property needs to be completely remodeled and there was a fire. So that's some fire damage and a smaller lot and no pool and it faced to the North. Not as good as that Southern exposure sunset view that these homes have. But then I think a more relevant comp would be the one that sold most recently just before that, which was 29 Holly Malia place. And that one sold for 6.5 as 6.55 asking 7.29 and the price per square foot was 2000. So if you then extrapolate that onto our current property that we're talking about, 5 1 5 7 you basically end up with a trade price somewhere between 2.3 and 4.7. So 2.3 would obviously be way, way, way under market. But 4.7 I think is very justifiable because in my humble opinion, this place does not need to be remodeled as much as the one that just sold at 29 Holly Miley. But certainly a case could be made that you'd want to remodel this place and maybe bring it up to today's standards. But again, I think it's a really good comp at 4.7 now they are asking 4.5.5. So I believe this one is actually going to trade a lower price per square foot than the one next door. And if I was to make a guess, it's probably going to be somewhere in the high fours, high fours, low fives, but all very, very justifiable by this comparable sale here at 29 Holly. I'm still working on my Hawaiian words, Malia place. Now I remember in Hawaiian, the eyes are E so Malia, I think before I said Malia, that's hearkening back to my mainland days. But the last thing I want to show you in this presentation of this property would be the tax assessor record. So here it is. 5 1 5 7 currently assessed at 5.5 7 4, which to me, it shouldn't be assessed more than the one next door. But then again, that's Maui County. Don't count anything on their assessed values. They don't make any logical sense. It's the government after all. And the taxes here are 66,841. And as you can see, they have been at that second home rate for a very long time because it has been a second home forever. If you were to live in this home, obviously that would drop significantly. Okay, let's dive into the next oceanfront property. This is the third one that's being auctioned here on the beautiful island of Maui. And after this, I will go into a bonus fourth auction for a home that's down in Wailea that is not oceanfront, but I think it's going to be a spectacular deal. So be sure you stick around for that. So this one is on the North shore of Maui, just North of Paia. It is of course the beautiful 21 Kalua place. And this one's got an interesting sales history, which I'm going to dive into. But first let's just start with Google earth and I'll show you exactly where this one is located. So obviously here we are looking at the beautiful island of Maui and is on the North shore Kahului right here. This is the airport. You can see the landing strip right there. So very close to the airport. This of course is the wind surfing capital of the world. This whole area, some really good surfing on the North shore. There's what will keep a beach park. So if you're into, you know, wind surfing, kiting, surfing, whatever. I mean this, it doesn't get any better. This is the epicenter of some of the best water sports on the planet and certainly here in Hawaii. And so it is just North of Paia and this is the little quaint town of Paia right here. So you can see it's just, you know, just a short drive. Now keep in mind in Paia, we do get a little bit of a bottleneck right here, you know, one way in, one way out. So you do get some of that traffic clogging. So just keep that in mind. And then right here is the actual home. You will see this is a nice part of the North shore. You know, there's some parts of the North shore that are super windy. I think this has got some nice protection, beautiful view corridor that I'll show you here in a moment. In the summertime, this is going to be totally, totally swimmable and snorkelable in the wintertime. Not so much because of the waves and the currents, but a really nice piece of oceanfront property right here. Um, the only two negative things I'll point out that came up when I showed the property, do you see right here where you drive in like a little neighborhood right here? Obviously this is the road to Hana. Um, this home right here that just sits on the mountainside of the house. It's sort of a two story and it kind of looks down onto the driveway area. So the only thing I'm going to say is there's a little bit of a privacy issue. When you pull in, you can kind of look up and you can see that neighbor right there. But certainly once you get in the home or in the backyard, totally private. Um, but that's some of the feedback and I'll give you some other feedback that I received before. So, um, let's take a look at some of the photos right here. Um, again, the, uh, the nice thing about, um, you know, working with a buyer's agent is that I've got some experience cause I've seen these homes. I can tell you things that you might not glean otherwise. For another example, I think the home probably needs a new interior paint color. That was one of the comments. Um, no big deal obviously. And then the kitchen, you can kind of see it back there in the corner. It's a little tight, so it's not one of these big grandiose kitchens. Is there a way that you could maybe change that and, and add some more kitchen counter space and whatnot? I think it, I think it's possible, but that's definitely one of the feedback points that I received. Other than that, I think it's a beautiful home, beautiful travertine tile, nice, you know, big layout, wonderful for a family and you know, infinity edge pool. And that view, I'm going to show you that here in just a moment. You see this view, that's Kahakaloa right there. That's very spectacular. And you can see the Island of Molokai over there to the right. And so the view corridor is amazing. The amount of turtles and you know, the surfing and you know, it's just, you can't, nice little hot tub in the backyard. I'll just go here and show you a few clips from the video that was made. I was just watching it here a moment ago. And you know, it's, it's just, it's just a neat, it's a neat place, but we're going to talk about the price. I think it's really important that we take a look at the comparable sales on the North Shore of Maui in the last couple of years for oceanfront homes. And also what this is traded for so that you don't get lulled into thinking it's worth more than it is. But I think the numbers, you know, the numbers don't lie. And sometimes the videos can get you a little too excited, but you got to look at the numbers. So anyway, I'll let you guys go back and, and if you want me to send you links to any of these properties, just shoot me a call or a text. I'm at 808-298-2030. I'm happy to send you all this information directly, but let's pop into some of the sales history of this property. So here we are in the MLS system. You'll see that it's sold twice in the last few years and it didn't stay on the market necessarily that long. Look at the first time it sold back in 2021, August of 21, they had it on the market for seven and a half. It's sold for eight half a million dollars over. So that's maybe kind of where the purchase price is coming from now. But the folks that own it currently, they were able to buy it for 5.3 back in 2024. It was asked, they were asking 5.75. So to me, that's a little bit more indicative of the current market value. And I think the comps will show that out right here. Check it out. So here's the comps. I put them in a spreadsheet for you. Here we go. So the three most recent sales since 2024 on the ocean in this area and Paia, uh, two of them happened on the same day, March 19th, 2024 one sold for 5.3. They went for six and a half the price per square foot right in the 1700s. The most recent sale was July 18th. That was at 30 Malia place that one closed for six. They were asking six nine five. So that's almost a million under ask at 1545 a square foot. So if you take that number right there, the most recent sale on the North shore, similar size lot, similar size home, you get to 4.6 if you take the highest comp in the last two years, you end up at 5.3. So that to me is sort of where this thing will trade at. Probably. However, someone might think, Oh, well, you know, if we get it for six, that's the good deal. That's a good deal. So I don't know if that'll happen. I don't know if someone's going to come in and pay six for this thing, but that's one of the reasons I like putting out videos like this, because I think it's important to look at the fact that it just sold for 5.3 recently. And again, if you look at the comparable sales at that 5.3, you know, 5.0, excuse me, I'm on the other ocean front homes right there. The 5.3 is kind of right where it dials in at today at the high end of a fair market value. So in my opinion, this will probably go for five, three, maybe five, five, seven, five at the highest. But I think 5.3 is 100% justifiable as a current fair market value offering. Let's see. What else can I share with you? Okay. The Maui County assessor's office currently has this valued at 4.82. Not that the government knows what it's doing when it comes to valuation. So that's not indicative of the market value. I actually think it is maybe a little bit low. And the current taxes are $9,745. As I mentioned earlier, that is a homeowner's exemption tax rate, which is the lowest tax rate in, in, in the, in our County. It'll probably revert back to second home if you purchase it and don't end up living in it the majority of the year and filing taxes here in the state of Hawaii. Okay. Now for our final property, our bonus property, if you call it, this is not an oceanfront home, but this is a beautiful home in Wailea. Let's check it out. This is a one 94 East Panana place. And we'll get started here with the Google earth fly down. And you can see here the beautiful island of Maui. It's down on the South side, Kihei side, we call it South side. And it's in Wailea, which is obviously the higher end of Kihei. And you can see this is just up the hill from Kiaba Kapu beach, which is probably in my humble opinion, one of the nicest beaches, maybe the nicest beach in South Kihei. And also I'd say it's, it's fairly walkable, right? Very, very walkable down the oceanfront homes in Kiaba Kapu, you know, 20, $30 million homes. So here you can see the house at one 94 East Panana place. The only thing I'll say about this is it does back up to this street. That could be possibly a little bit of a road noise. Um, that's the only possible negative aspect of this location. It is in a gated community of course, but it's not a super busy street, but I just wanted to point that out. Now, if we go to the images here, you'll see, it's obviously a very beautiful home. I mean, there's no question it crosses all the T's dots. All the eyes has the pool, has the beautiful ocean view. Um, they say ocean view adds anywhere from 10 to 30% to the value of a home. And it's usually at the top of the list in terms of what people want. And this one has all of the nice finishes that you've come to expect with modern, uh, finished homes essentially. And it has that indoor outdoor living vibe with the pocketed doors. And, um, yeah, it's just, this is a gorgeous home. So what's interesting and probably why this thing is going to market. If we jump into the comps, let's go over to the MLS here real quick. You'll see, um, right here that the, actually I put them on a spreadsheet, um, right there. There we go. Uh, the most recent comp, there's only been one sale in 2025 in this area, right? So sales have slowed down probably why they're doing the auction. But the most recent sale did have a very high price per square foot and 1,343, the current asking price for this home is at about 1240. However, the home that sold is significantly smaller, 1794 versus a thousand 3,024. So they really don't correlate, you know, apples to apples. So that's, in my opinion, a better way to look at it is to look at the comps that sold in 2024 and say, okay, if we were to apply some of those values, where, what's the range that we would come into? The lowest price comp that sold last year was 321 Pualoa Nani Place at 275, which comes in at $980 a square foot. So if we apply that number, we come up with a value of 2.965. So that to me would be the value of this home on sort of the low end. Um, I think it can only be worth more than that, um, based on that particular comp. And that was a year ago when the market was actually a little bit better. So then you have other comparable sales. And what's really interesting about this property is the other component is if you look at when it most recently sold, here's the, um, here's that history right here. You can see it's sold twice once in 2006 for 2.9 million. That was the, before the first crash, right? No seven Oh eight. So that was the value in Oh six and then the market value. And then of course it's sold to the current owner in 2023 for 2.4 million. They were asking to 999 that sold for two four. And that wasn't that long ago, right? 2023. So that gives, I think that's a good data point as well in terms of right now they're asking 3.75. So if we go into the listing itself right here, and of course I've got this video for you as well. I thought I would play a few clips from this while we talk about it. Um, I think that there's gotta be probably some real motivation here would be my guess because, uh, there's really nothing about this home that says it, it, uh, you know, it shouldn't have sold other than the market has slowed down. And the price point to me seems very reasonable because if you look at these two comparable sales, I'll stop the video right there. You have this one at three, three, two Pua Loa Nani place. It's sold for 3.74, right? So I think it's really in the hunt as far as their current asking price. So I think a really good deal is probably going to happen on this property would be my guess because you're missing that oceanfront appeal. It's just another home for sale on Kihei. Um, whereas the oceanfronts can really pull a higher demand. Um, and then look at this comp as well. This one also sold recently last year, three 21 Pua Loa Nani at two nine five. Oh, so that's a huge disparity between these two. They're both in the same street, very close to each other. One sold for two nine five, the other one sold for three seven. I mean, that's almost a million dollar difference. So at any rate, I really, this one is a little bit of a head scratcher. It'd be interesting to see where this one actually trades at. Eventually let's take a look at what Maui County thinks is worth there. They are at 3.689, but against the government, they don't necessarily know anything about what properties are worth. In my humble opinion, they're kind of all over the map, but, um, the taxes on this are 34,788. That is a second home property tax. If you do live in the home most of the year and file taxes in the state of Hawaii, that will go down significantly with the homeowners exemption. So in the comments, let me know of all these properties we've taken a look at today, which one is your favorite? Which one do you think is going to go for the lowest? I've got my humble opinion on which one's going to trade for the lowest. Uh, reach out to me directly if you want, if you want to know which one you can be really aggressive on. Um, but I think there are some downsides of that home as well that need to be dealt with essentially. Um, but I'd love to help you. I'd love to represent you. I'd love to be your buyer's agent. So please hit me in the, uh, in the, in the comments or you can text me or call me directly at 808-298-2030. I will also put a link in the description to the Maui buyers club. You can register with me on my website through that particular link. And I'd love to get you registered for this auction before, um, October 22nd, because of course that will help you save 6% of the buyer side premium that you must pay. Um, so thanks again for watching. I appreciate it. If you like content like this, I'd love to share a thumbs up, a subscribe, a subscribble and a, and a call. If you're looking to participate in this auction, thanks so much until next time, Eric West out. Three ocean front cut.