Makena Land For Sale
There are numerous ways to make money when investing in a property comes into mind. You can either buy a raw piece of land to build your future property or one already developed. In this case, we will be discussing the former, which is purchasing land in Maui, Hawaii.
What can be built on a purchased empty land?
There are endless possibilities of what land can be used for, but Maui, Hawaii’s zoning requirements will restrict land buyers in some way as to what can be built on their chosen empty lot. But in general, one can develop anything on their purchased land, including:
- Residential: for single and multi-family homes
- Commercial: for business operations such as an office or retail space, retail centers, private schools and universities, restaurants, hospitals, grocery stores, or sports facilities
- Agricultural: for farming purposes
- Industrial: for manufacturing, storage, and distribution, or flex spaces
What are Maui, Hawaii’s zoning requirements?
Understanding which zone your preferred lot falls in is challenging, especially since it is one of the main factors to consider when purchasing land where your future property will sit on. However, we will give you a brief idea of Maui’s residential zoning requirements based on its land area.
Minimum lot area:
- R-1 residential districts: 6,000 square feet
- R-2 residential districts: 7,500 square feet
- R-3 residential districts: 10,000 square feet.
Minimum lot width:
- R-1 residential district: 60 feet
- R-2 residential district: 65 feet
- R-3 residential district: 75 feet.
Lot Area Up to 7,499: allows accessory dwelling up to 500 sq ft
Lot Area 7,500 to 9,999: allows accessory dwelling up to 600 sq ft
Lot Area 10,000 to 21,779: allows accessory dwelling up to 720 sq ft
Lot Area 21,780 to 43,559: allows accessory dwelling up to 840 sq ft
Lot Area 43,560 to 87,119: allows accessory dwelling up to 960 sq ft
Lot Area 87,120 or more: allows accessory dwelling up to 1,200 sq ft
With the types of properties listed above, as well as the zoning requirements your empty lot falls under, we will discuss three of the most beautiful lands being sold in Makena, Maui, which is handled by Wailea Realty Corporation and Windermere Real Estate.
Purchasing an empty lot and converting it into your dream home or resort is no easy feat, especially when you are doing it to settle roots or make your prospective property your passive income. Regardless of the type of property you want to buy, note that a piece of land, if maintained and in good condition, will always increase in value due to its limited supply. With population increasing, the demand for lands also increases, making its price drive up over time.
Should you ever decide to buy one of these lots and opt not to develop it, you can still sell it at a higher price in the future because, in the end, owning land is an asset and will give you financial security. Need assistance? Contact our Maui property specialists today.