Oceanfront Paradise Maalaea

OCEANFRONT! Wake each morning to stunning views of the crystal-clear blue waters of Maalaea Bay with the peaks of Haleakala towering above. Watch turtles play in the surf as sailboats drift by. See views of Kihei, Makena, and Molokini Crater in the distance. You will never want to leave your lanai! Go to sleep as cooling trade winds waft a gentle breeze filled with the refreshing smell of fresh ocean air while you drift off with the relaxing sound of lapping waves on the shoreline.

This incredible one-bedroom, one bathroom condo is the perfect couple’s retreat. With snorkeling, kayaking, surfing, and beach walking just steps from your door, it’s the best place in Maui to call home, with island privacy tucked away from the bustling resort areas.

About the Co-Owners:

This property has been co-owned for decades. Originally purchased by a group of neighbors in Lake Tahoe, they split the purchase price 12-ways with each getting one month use of the condo. There are currently seven families that co-own the property. It is held by Maalaea Tahoe LLC, a registered Hawaii LLC, and each family owns partnership shares proportionate to the number of months they individually own.

Annual Cost of Co-ownership:

In 2024, the co-owner annual dues for August were $1,738. Annual operating dues are paid by partners each February for the costs incurred in the preceding year. This includes prorated HOA / property management, property taxes, building assessments, utilities, repairs and maintenance.

Co-ownership Benefits:

To keep the unit in its pristine condition with each co-owner partner taking pride of ownership, this property is for the exclusive use of the partners, their families and friends. The unit cannot be used as a vacation rental property nor for any revenue-generating purpose. Buyers must be US citizens.

Financing:  

The best and easiest way to access funds to purchse this property is to take out a HELOC (Home Equity Line of Credit) on your primary home.  Co-own purchases require all-cash transactions, as the property is wholly owned by all the partners within the LLC and cannot have a mortgage secured against it.   HELOC's are typically 10 year loans that only require monthly interest payments, so your monthly cost can stay affordable. See your bank or credit union for more information. 

Property Location / Address:

The condo is in the Maalaea Banyans complex on the shoreline of Maalaea Bay.

190 Hauoli St., Unit 220, Wailuku, HI 96793

Listing Agent:

Don McEntire

Mobile / Text: 808-268-3517
E-MAIL: Don@McEntireRealty.com

Click here for MLS Listing!