Condo Maintenance Fees

By
Real Estate Agent with Aloha Realty Group

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:

- electricity

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

 

Posted by

Mihaela Stoops, REALTOR Broker

Aloha Realty GroupHonolua Bay

180 Dickenson St #217

Lahaina, Hi 96761 

www.ForSaleinLahaina.com                                      www.WestMauiHome.com    

      

Comments (2)

Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Great topic for a blog post - that's good info for buyers.  Happy Thanksgiving Mihaela!

Nov 27, 2008 09:55 AM
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

The same thing has happened here. Many of the expensive downtown and Mission Valley condos are in foreclosure, which means their monthly HOA fees also don't get paid, resulting in some severe financial problems for some of these condo complexes. Thus they've raised their fees, promising to reduce them when things return to normal.

Dec 02, 2008 07:49 PM