Luxury Real Estate is defined very differently depending on each unique town, city or vacation destination. Property value, area development, demographics and median resident income levels are main considerations. Aspects that relate to the uniqueness of a property, if it has historical value, unobstructed views and location privacy are more factors.
For example, in most U.S. cities and highly populated metro areas, an established luxury price point is considered to be on average above $1-million dollars. In cities and areas of high demand like New York City and the San Francisco Bay Area, you’ll find that sometimes a property doesn’t even begin to fit into a luxury category until it’s above the $3-million dollar mark; that’s quite often just a starting point for a luxury condominium.
In relation to sales and results, luxury agents are defined by those that perform in the Top 10% of their given market*
Luxury Real Estate on Maui & Hawaiian Islands
In Hawaii, it’s a bit different depending on each island. Sure, you could find a luxury condominium in Downtown Honolulu for $2-million or more, of course. But, you could also find a private estate on Maui (with ocean views) at a similar price point, quite easily.
So, what do you get when you spend over $2-million dollars on a property located on Maui’s North Shore? Well, besides the obvious benefits of living on an island and in one of the most sought after communities in the world, you’ll see a higher level bracket of homes and properties for sale. Buyers will more likely see a turn-key property with many more of their ‘must-haves.’
Many things contribute to a property being luxury on Maui. The main points include the construction build, architecture design, materials, interior design, appliances, unique features, location and views. Each one of the above mentioned points contribute to adding value to a luxury property. These are not only luxurious to the eye, but they are the attributes of a property that contribute to its market appreciation.
Buying a property with market appreciation is one of the best investments anyone could ever make, securing that a property will appreciate and gain in value.
Design, Construction Build & Materials
Architectural design, construction build and materials used to build a luxury home are definitely customized. In fact, you’ll commonly see that many of Maui’s luxury properties were also built with topography and weather in mind: sunshine patterns, wind patterns and seasonal rainfall. With this type of architectural approach, windows, doorways, outside areas, gardens and more specific structural elements can be built to flow with the natural environment.
Materials that you’ll see in a luxury Maui home include exotic woods like Monkeypod, Koa, Ipe, Mahogany, and exclusive marbles like Travertine, Calacatta, Carrara and rare soapstones.
More ‘luxurious’ materials include custom ordered structural elements, hand carved items, custom cabinetry, glass work, water features, custom tile work and expert landscaping. A great example of how to add value into a Maui property with landscaping isn’t only by consistent maintenance, but it’s also by adding rare garden types, Royal Palm Trees and other mature tropical trees and foliage thad hold value.
Interior Design, Appliances & Features
Interior design, appliances and singular features are a huge aspect to what define’s luxury in Maui real estate. Ceiling details, sliding pocket doorways, stairways, art, backsplashes, swimming pool and spa design all contribute to making a property distinct, memorable and desired.
High-end appliances from companies like Thermador, Sub Zero/ Wolf, Viking, Miele and La Cornue will surely define a luxury property. Of course, all of these brands have a certain reputation for being and looking the best, but they’re also known as being one of the most solid property investments for increasing the return on investment (ROI).
Location & Views
On Maui, location and island views have a direct correlation to establishing luxury. On Maui’s North Shore you’ll find this translated as unobstructed Pacific Ocean views, fabulous daily sunrise and sunset views, bi-coastal views, 360-degree views, outer-island views and mountain views of Mt. Haleakala and the West Maui Mountains (Pu’u Kukui).
The main locations of Maui’s North Shore include Paia, Haiku and Makawao. Within these areas, we also have pocket areas (neighborhoods and roads) tucked in lesser known locales of Spreckelsville, Ku’au, Paia-Makawao, Haiku Makai and Haiku-Huelo. In these areas you’ll find oceanfront estates, properties perched on clifftops, historic ranches and land to build on.
For more information about North Shore Maui Real Estate, or to make an appointment for a private showing with Rhonda, please Contact Us