We have seen some HUGE price reductions for condos on Maui in the past few months, while maintenance fees went up significantly!
To give you an overview, there are a few variables that determine the amount of the monthly maintenance fees:
Some properties, like Mahana, Maui Kai, Kaanapali Shores have central air and thus electricty is included in the maintenance fee. As a result, maintenance fee for a condo at Maui Kai is $735/month and the maintenance fee for a 2bd unit at Kaanapali Shores is $1,242/ month. There are some very good deals on the properties, currently, while a buyer needs to make sure that he/she is able to cover the costs of maintenance fees, every month, no matter what.
If electricity is not included in the maintenance fee, for an oceanfront 1bd condo, with a pool, you can expect a maintenance fee around $600/month.
- swimming pools
Properties that have swimming pools typically have higher maintenance fees than the ones that dont. For instance, maintenance fee at Napili Villas, maintenance fee for a 2bd/2ba unit, with no swimming pool on the property, is $380/month. A similar size unit on a property that features a swimming pool would be around $700/month (electricity would not be included)
- land and landscaping
The more land, the more landscaping one needs and thus higher maintenance fees. Particularly in Hawaii, where everything grows faster:-))
- number of units in the complex
It is fairly obvious that high density condos typically have lower maintenance fees.
Maintenance fees typically also cover costs with water, trash, maintenance of the common areas and insurance.
Check all Maui condos for sale at www.westmauihome.com