Maui, named after the Hawaiian demi-god of whaling, ranching, and sugar industries, is the gem of the Hawaiian group of islands. It is also known as Valley Isle and is Hawaii's second-largest island. Some who visit Maui find it too irresistible that they fall into its charms and have made it their home. Their very own slice of paradise.
Land and properties in Maui are much sought after, and rightly so. With its bounty of tropical ingredients, Maui has a vibrant food scene. It's also home to some of the planet's best beaches, superior diving sites, kiteboard Meccas, snorkel coves, and the biggest surfable waves on earth.
Maui's Kaanapali Beach is reputed as America's best, with its spectacular uninterrupted three-mile stretch of soft white sand.
What distinguishes Maui from Hawaii's other islands is that it has the highest concentration and variety of exotic Hawaiian landscapes, from bamboo forests to waterfalls to volcanic state parks.
Discussed below are the top considerations in buying land in Maui:
1. Types of Property Ownership
There are two modes of property ownership in Hawaii - Fee Simple and Leasehold:
Fee Simple Absolute as the term implies, is complete ownership of the property - land, and structure. The owner can do as he pleases with the property, subject to local zoning requirements and community restrictions. The owner has the right to use or sell the land, lease it to other parties and choose the property's heirs upon death.
Leasehold is the kind of ownership where the owner has full rights to structure, but the land is on lease.
If you are considering buying land in Maui, the type of ownership you are after is that of the Fee Simple Absolute.
2. Financial Options
Upon deciding on purchasing land in Maui, one of the first considerations is the method you intend to pay for the lot. Knowing all the finance options available will be helpful. Suppose you are considering securing land property first and have yet to make plans of building a structure right away. In that case, Hawaiian banks offer land loans with reduced fees when refinancing into a construction loan when you eventually decide to make it.
These land loans have up to 3-year terms that can be restructured as a regular mortgage once the structure is completed. They can also be refinanced as construction loans before the duration of the land loan is up.
3. Preferences
Zoning
Zoning is a significant factor in deciding where to buy land, as this will determine what you are allowed (and not allowed) to build and what you can do (and not do) on your lot.
The three zoning classifications in Maui are Residential, Rural, and Agricultural.
Residential and rural zones have the same rules that dictate the maximum size and number of accessory dwellings. The owner can build a primary residence, one accessory dwelling, and a detached garage and barn on agricultural lands.
Condominium Property Regime (CPR)
CPR is a legal mechanism that enables the division of a single property into two or more ownership units. If you buy into a CPR, you are entering into a partnership with persons owning other units.
If you are planning to enter CPR, you should consult a CPR lawyer to know the benefits and risks you will face.
Homeowners Association
Another consideration when buying land in Maui is whether there is a Homeowners Association if the lot is situated in a subdivision. For some, this is a nuisance as they want the HOA Board to tell them what they can and cannot do in their lot. Most will find HOA beneficial as dues are used for the upkeep of common areas, thus making the neighborhood more aesthetically pleasing.
Utilities
When considering a lot, a buyer should consider how difficult it will be to set up utilities and the quality of service available. The list includes electric power (unless you plan to go off-grid), water, telephone, cable tv, high-speed internet connection, garbage collection, sewer, and mail delivery.
Location
Maui is renowned for its variety of landscapes in its only 727.2 square mile area. This makes for an explosion of a variety of options for land purchases.
The critical determinants in selecting a location are:
Lifestyle
The question is, what do you envision your Maui life is going to be like?
If it is a part-time vacation home, it may be advantageous to be in a resort area so that you will be situated near restaurants, water sports activities, and golf courses.
If it is a full-time stay, your considerations, like commute time, hospital access, and groceries, will be different.
Views
People buying lots in Maui all want the same thing - an ocean view. South and West Maui have ocean and multi-island views. The North Shore offers an unobstructed view of the horizon. Central Maui has views of the entire North Shore with ships going in and out of the Kahuku Harbor.
Topography
A flat lot with a view is the most desirable terrain in Maui, but often you may need to compromise one for another.
Buying unusable land may be your only insurance in protecting your view from future developments in the area.
Weather
In Maui, along with the diversity in landscapes comes the variety of weather systems too. Hana is known for being wet, while Lahaina and Kihei are considered dry. The wind is a factor, too, as windward sites are cooler while leeward sides are warmer and drier.
There are properties at sea level and on the slopes of the West Maui and Haleakela mountains. The higher the location, the cooler it gets. The University of Hawaii has mapped out Maui according to weather - by temperature and rainfall. It is an excellent reference for Maui weather per area. Price
The diversity of lands in Maui does not end in weather, topography, and views. It extends to tag prices too. Some parts of the island are more expensive than others. Demand and desirability determine the cost of lots per area.
Final Thoughts
Buying land in Maui can be challenging. Finding the land that is most suited for your needs, lifestyle, and finances can be a daunting task to tackle on your own. Don't worry! Maui Property can help you find your perfect home in the county.
We are locally owned and operated, so no one in the industry knows Maui more than we do. Whether buying, selling, or investing, Maui Property's high-quality service and unmatched market insight will be at your service. We have the experience and the expertise to provide you with the dedication you deserve.
We put our clients first every single time. Reach out to us.