Launch of My Maui Life
We are excited to launch our own web site to show off our beautiful condominium rental properties, but also to give you the real scoop on how all of this Maui vacation rental business really works. For years we paid through the nose for worn down garden view units, just because we didn't know any better. We dove in and purchased our first unit - the Konea 604 at the Honua Kai resort in September, 2013 and have since learned so much.
Why are most Maui vacation properties time shares? Because the developers make more money that way!! The Honua Kai and a few others in Maui are different. The units are all owned fee simple by individuals or companies, and not by a hotel chain or resort management. The original developer wasn't a time share company and had a different business model. My understanding is that when the Honua Kai was first offered for sale that it sold out in hours - there was a line of people waiting to buy these condos. That's how unusual this opportunity was. Construction started and then the recession hit at a very bad time and many of the original sales fell through. Bad for them, but good for us. We feel so lucky to own two of these beautiful places.
Most of the resorts you see on Maui rent out time shares or their own properties and make a good profit. The Honua Kai is fee simple, so each unit is owned separately. The Honua Kai resort is fabulous with all of the amenities you expect. The condos are clean and maintained to very high standards!