1338 Uluniu Rd
Kihei, HI 96753
Aloha Villas · Multifamily Property For Sale · 8 Units

Colliers International has been retained as the exclusive advisor for the disposition of Aloha Villas, located at 1338 Uluniu Road, Kihei, Hawaii (the "Property"). Built in 1980, and renovated through 2008, the Property is a 8,000 gross square foot and 6,875 net rentable square foot luxury beachfront vacation rental. Situated at the corner of Uluniu Road and West Lipoa Street, the Property is located due south of Maalaea Bay and resides on the Pacific Ocean coastline. The Property offers four rental units with an average square footage of ±1,700 square feet, each containing three bedrooms and three bathrooms; tastefully furnished with Hawaiian décor and a large balcony that overlooks the palm trees and azure waters of the Pacific Ocean. Kihei, the city in which the Property resides, is located on Maui's southern shore and consists of six miles of uninterrupted beaches. The six main beaches roll into one another, and the water is always ideal for swimming and other ocean activities. When Kihei was first developed, many hotels, condos, and other lodging options were constructed across the street from the beach; this gives Kihei a unique quality of having the shore right outside the front door. There are five available rental options. Villa 1, which is an oceanfront three bedroom, three bathroom unit, located on the 2nd floor, charges a nightly rate of $1,095. Villa 2, also an oceanfront three bedroom, three bathroom unit, located on the ground floor, charges a nightly rate of $1,150. Villa 3 and 4, both ocean-viewing townhomes, individually includes three bedrooms and three and a half baths, charging a nightly rate of $975 and $975 respectively. The fifth Villa option, which is to rent the entire Property, includes all four Villas, all 12 bedrooms, all 12 bathrooms and every amenity provided. The Property charges a nightly rate of $4,200 for this option. The Property is occupied, on average, for 70% of the year. All four Maui Villas come with central air-conditioning, a dining/living area, a gourmet kitchen, a full laundry room as well as outdoor living spaces such as balconies and patios. The Property is gated with electronic gates, and includes three remote access security cameras covering the entire Property. There is a heated salt water swimming pool and hot tub; poolside BBQ and dining area; outdoor shower, and wireless internet. There are over 80 roof-placed solar panels, which help to reduce electricity cost. Aloha Villas are within walking distance of Azeka’s Mall which features over 50 shops, grocery stores, medical office, wine store and a variety of restaurants featuring regional and international cuisines. Less than a mile away on Pi’ilani Highway (State Highway 31) is the Pi’ilani Village Shopping Center. The Property is situated 1.0 miles west of Pi’ilani Highway. Nearby airports include the Kahului Airport (12.0 miles north), Kapalua Airport (29.0 miles northwest), and Hana Airport (57.4 miles east). With a competitive location, amenity-rich and newer construction build, and ample up-value potential through pushed rental rates (which will be detailed in further slides), the savvy investor/buyer will recognize the advantages in acquiring an asset of this quality and nature.