Buyers searching for homes in Lahaina will find a range of luxury properties right on the water and close to the town’s amenities. However, it can be difficult narrowing down what exactly to look for in a home. When making a checklist of what you need and want out of a property, consider the six factors below. But first, here’s what you need to know about the current market conditions as a buyer.
Maui towns like Lahaina are experiencing slowing trends. Current inventory has increased when compared to the same time last year. Sales have decreased, while the median sale price for single family homes has dipped slightly. Buyers can expect all these trends to benefit them in a home search, but should be mindful that the market still leans in favor of sellers.
One of the most important aspects of searching for homes in Lahaina is location, as it’s the only part of a property that can’t be changed. Consider surrounding aspects of location like the amenities in the area, nearby schools, as well as essential services like health care providers and grocery stores. For those searching in areas like Lahaina, there’s no need to worry about a long commute, as everything you want or need is nearby.
Buyers searching in Lahaina will love what historic areas like Front Street have to offer, as well as the temperate and sunny climate that makes outdoor recreation so fun. Enjoy the surrounding ocean by snorkeling, surfing, or kayaking. There are several art galleries in the area to explore, as well as dining in oceanfront cafés for great views and food.
2. Home layout
When you’re sure about location, focus on property specifics like the home layout. Many individuals searching for luxury living often opt a larger property to accommodate a life of leisure. However, a large house without plans for how to utilize the space can become difficult to manage. Know your needs before starting your search to better judge what will and won’t work.
The type of floor plan is also important to consider in a home transaction. Think about how many rooms you need, whether you’re interested in building a home office or a game room, or need extra space for a growing family. Open floor plans are popular currently, although some buyers favor clearly defined spaces. Think about noise level, privacy, and access to areas like a bathroom space or a closet when deciding if a floor plan and the number of rooms is adequate.
3. Home condition
Buyers searching for homes in Lahaina should always order a home inspection. Maui has a tropical climate, which means that drainage for homes, especially waterfront properties, is essential to safe living. Watch out for water damage along walls, in sagging ceilings, and in basements. With damp homes, mold may be prevalent as well.
A home inspector will also check other parts of the property, like its foundation, exterior walls, damage to roofing, plumbing systems, electrical systems, and pest issues. Understanding the heating and cooling system for a home before purchasing it can save buyers from a crisis when air conditioning or heating is needed.
4. Neighborhood vibe
The overall vibe of a neighborhood can drastically change a buyer’s opinion of a property. Some areas may be more quiet and residential, while others are lively and vibrant. Decide if you’re interested in a neighborhood where everybody knows everybody, or if you’d prefer more privacy. When judging a neighborhood’s vibe, it’s best to visit in-person at different times of the day and week.
Lahaina properties are in several different standout neighborhoods. Ka'anapali’s coastal rural area is great for those searching for an oceanside property, and ideal for those desiring a quiet space to live with great amenities close by. Kapalua is another popular area in Lahaina, which is a coastal neighborhood with a more suburban feel. Other neighborhoods in Lahaina include Plantation Estates, Kelawea, and Crater Village.
5. Storage spaces
Having enough space to live isn’t limited to the number of rooms and square footage. Search for a home with plenty of storage space for the belongings you currently have, as well as the ones you’ll likely collect when in the area. Spaces like basements, attics, and garages can provide the extra room needed to live comfortably, as well as built-in features like closets, cabinets, and shelves. Think about the hobbies you have, the number of cars you own, seasonal clothing and décor, as well as access to daily items when considering storage.
6. Financial details
Planning out the financial details of a home purchase can save buyers time and effort when they begin their search. Maui homes average about $1.2 million, although buyers intending to finance a property with a mortgage should also factor in interest rates. Hawaii’s average rate is currently 6.62% for a 30-year fixed loan, and 5.86% for a 15-year fixed loan. Property taxes and cost of living are also important considerations in buying homes in Lahaina.
Ready to search for luxury Lahaina homes?
Lahaina is a tropical paradise that buyers love for its oceanside properties, great amenities, and beautiful weather. To best enjoy the area, look for the six things above in your home search. When you’re ready to start looking for Lahaina homes, contact one of the local agents on the Ohana Real Estate Team to guide you through the process.