Honua Kai is a gorgeous new fee simple vacation rental beachfront condominium development in Kaanapali. Construction has been completed on the first tower of the development and the second tower likely to be completed in mid 2010. This is the first new whole ownership beachfront resort developed in Kaanapali in over 20 years. Honua Kai was a hot item when first offered for sale pre-construction in 2005. The initial offering was sold out within hours. Honua Kai sales are by and large high-end transactions with closing prices ranging from the low $500,000 to over $4.5 million.

Contact Michele Muir White for additional information on the Maui Real Estate market.

Check out all of the current Honua Kai listings on MauiRealEstateGuru.com

Fabulous 2B/2B Grand Champions with vaulted ceilings and ocean views. Spacious and beautifully remodeled unit has two primary suites complete with upgraded ensuite baths. Granite kitchen counters and stainless appliances. All new designer furnishings and art to make you and your guests comfortable. This well maintained condo comes fully furnished and in move in ready condition. Grand Champions has 2 pools with hot tubs and BBQ areas. Close to Wailea resort amenities, outstanding restaurants, golf courses, tennis, shopping and white sand beaches. Make this your Maui home, second home or continue this extremely popular vacation rental. $1.650m.  MLS 395243 Michele Muir White R(S) 71240, ABR, Coldwell Banker Island Properties Wailea.

Listing – Panoramic ocean views from this stunning 3 bedroom, 2.5 bath Moana Estates home. Beautifully renovated with vinyl plank flooring, 30 net metered owned PV panels, Central AC and Split AC.  Lush tropical landscape. Large gated yard. Room for a pool. Home is immaculate and in perfect move in condition. $1.925M. MLS 395032  Michele Muir White R(S) 71240, ABR, Coldwell Banker Island Properties Wailea.  808.298.8448

 

$987,500 3 Bedroom – 1 Bath main home; 1 Bedroom / 1 Bath Ohana plus office – MLS 392678

The Ocean side of Hana Highway is like Haiku heaven. Property has sweeping ocean views and is set in a lush tropical (almost) half acre parcel, with a beautifully remodeled home. Beautiful tiled floors throughout look like wood, stainless appliances, maple cabinetry, light and bright kitchen, skylights, and energy efficient double paned vinyl windows. An extra-large covered lanai extends the comfortable outdoor living space. Net metered photovoltaic panels. Exterior painted in 2015. You will love the park-like yard that has an abundance of mature tropical flowers, fruit trees of mango, banana, orange, breadfruit and a terraced raised-bed garden area. Garage has been made into a 1 bedroom Ohana with a breezeway separating it from the main house and adding 500 s.f. to the total living area. Off the Ohana is an extra bonus room that makes a great den or office. Being sold furnished. Your Maui home awaits you.

GRAND CHAMPIONS 181 – MLS 390639 (1B/2B 980 sf) $710,000 Fee Simple

Fabulous Grand Champions ground floor location. Spacious remodeled unit has granite counters, stainless appliances, beautifully upgraded tiled baths and split AC in living room/bedroom. Great location close to the quiet lower pool with easy access and no stairs. Well maintained condo comes fully furnished. Grand Champions features 2 pools with hot tubs and BBQ areas. Close to Wailea resort amenities, outstanding restaurants, golf courses, tennis, shopping and white sand beaches. Make this your Maui home, second home or continue popular vacation rental. Buyer to participate in Seller’s 1031 Exchange at no cost to buyer. Some artwork excluded from sale. Michele Muir White R(S) 71240, Coldwell Banker Island Properties Wailea  808.298.8448 MicheleWhite@twc.com

Beautiful remodeled condo perfectly situated overlooking a serene nature preserve. Very private location with an expansive lanai. Enjoy bird watching, deer sighting and stunning sunsets. Freshly appointed spacious and modern 3/2 interior floor plan with a 200 sf bonus loft. You will love the seamless integration of the open kitchen, dining and living area. Largest second floor unit with vaulted ceilings, and abundance of natural billowing light and plenty of extra interior storage. Central AC. Split system in kitchen area/living area. Beautiful vein cut travertine custom showers, granite counter and glasswork in bathrooms. Plantation shutters throughout. Wide plank hand scraped engineered hardwood flooring grace the main living space. Stainless steel KitchenAid convection glasstop slide in oven, Bosch whisper quiet dishwasher and GE Profile French door refrigerator. Full size Samsung steam washer/dryer. 80 gal solar water heater. All new ceiling fans and custom lighting. New baseboards and designer paint throughout. Relaxing recreation pavilion with Olympic size saline pool/spa, BBQs and fully equipped workout room. Meticulously maintained gounds. Pet friendly complex. Steps to sandy beach. Make this your Maui dream home now. Home warranty. Listor is owner. MLS 382067  Michele Muir White R(S), RS-71240, Coldwell Banker Island Properties 808.298.8448

 

Wailea style luxury living in South Kihei!  Remodeled detached one bedroom/one bath ohana, complete with its own private entrance and washer/dryer within unit. Located at the end of a quiet cul-de-sac and within walking distance to Maui’s best beaches (Kam I and Kam II). Ohana comes furnished, has a bright and open floor plan and is immaculately kept and well appointed. Available now.
. 1 bedroom, 1 full bath, + laundry within ohana
· Nicely landscaped and irrigated yard
. One designated parking space
· Private location in an upscale residential neighborhood
· Walking distance to beach· Furnished
· Ceiling fans and 2 wall AC units
· No smoking, No Pets
· Owner pays water, trash, and gardener
· Tenant pays for cable, electricity, internet, and phone service.

Available to show now. View by appointment only. 6-month lease. Lease Rent $1850. One month rent in security deposit. NOT HUD approved. Good credit, landlord references and verifiable income required. Please TEXT with any questions.  Mahalo.
Michele Muir White RS-71240 Coldwell Banker Island Properties, Wailea 808.298.8448

 

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Maui Real Estate, December 2017 (Current State of Maui’s Real Estate)

So you are wondering what is the status of Maui’s current real estate market. Scarcity has been the biggest driver of the Maui Real Estate market for the majority of 2017. This was particularly true in the home market under $1m. The lack of inventory in this price range has resulted in a lot of bidding wars and upward pressure on pricing. It also meant a decrease in sales volume as there just aren’t as many homes to sell. Buyers are out looking, but they are having a tough time getting into homes. This is reflected in the stats with median prices that up 15% compared to the first three months of 2016 and sales volume is down 5%. The March median home price of $769,000 was the highest that we have since 2006. Again, this really emphasizes the scarcity of listings at lower price points.

Maui’s luxury real estate sales trends are up and shift south. Luxury home sales were up in the first quarter of the year. There were 16 sales over the first 3 months of 2017 compared to 11 over the first 3 months of 2016.

Over the last couple of years, luxury home sales have been stronger in West Maui compared to South Maui. Launiupoko has led the charge with Kapalua and Kaanapali following close behind. There were 8 sales in West Maui over $2m during the first 3 months of 2016. There was one sale in South Maui during that period. This year, there were 4 sales in West Maui over $2m, and there were 8 sales in South Maui over $2m. Makena’s market activity was particularly notable with 4 sales over $9m. It is difficult to account for the shift in sales volumes between the different locales of the island. Sometimes it just depends on the quality of the inventory. Makena may also be seeing a bump up due to the development of the Makena Golf and Beach Club. While none of the 4 sales in Makena were part of this development, this ultra high-end development may be drawing some affluent buyers to explore more immediate options outside of this new development.

There was also an uptick in luxury home sales outside of the resort areas. There was a single sale in each of the communities of Hana, Haiku, Kula and Paia.. That compares to a single sale outside the resorts during the first three months of 2016.

The luxury condo market has experienced some similar trends. Sales were up overall. There were twenty-three sales over $1,500,000 during the first few months of this year compared to seventeen during the first three months of 2016. 20 of the sales were in South Maui during 2017 compared to nine last year. West Maui has seen a dip in activity with three closes compared to eight in 2016. Some of this can be attributed to a decrease in inventory in Honua Kai. All of the developer units have been sold, which means we are now exclusively seeing resales.

Thus far, overall condo sales have had strong sales in 2017. Condo sales do not seem quite as constrained by inventory when you look at the sales volume. Sales volume is up 17% compared to last year. Almost all of that growth can be linked to the vacation rental condo market.

It is hard to attribute an exact reason for the boom in the Kihei condo vacation rental condo market. While we may be seeing a few more Canadian buyers, the Canadian dollar remains far below the peak that prompted the last wave of Canadians. A number of our domestic markets are feeling their own real estate booms. Places like Seattle, Portland and much of California continue to see strong activity. Likewise, a sustained bull run in the stock market may provide buyers/investors with the discretionary capital to make a second home purchase.

What can we expect over the next few months as we end out the year and head into 2018?
There is no immediate relief coming with Maui’s low housing supply issues. On the demand side, our island rents remain high and interest rates are still comparatively low. Maui Real Estate market conditions should remain similar to what we saw during the first quarter of the year. Competitive bidding will likely remain the norm for well priced homes in the $1m and under price range. You may even see a few bidding wars at well priced homes over $1m. This may be a frustrating time for buyers, as strong offers can still be outbid. Buyers should remain patient, make sure they have their ducks in a row when it comes to financing, be realistic about their financial picture and act decisively when properties that meet their needs come to market. While this is still a seller’s market, there is some variability in demand by town and neighborhoods on the island. Not all areas are booming so sellers should consult closely with their realtor and study recent sales to develop a realistic market listing price.

Mahalo for contacting Michele Muir White R(S), 71240, ABR  808.298.8448 if you are considering buying or selling property on Maui. Michele welcomes the opportunity to sit down with you or to talk via phone to discuss your real estate needs.

As noted by the Real Estate Association of Maui, August tends to mark the waning of housing activity ahead of the school year. Not all buyers and sellers have children, but there are enough parents that do not want to uproot their children during the school year to historically create a natural market cool down before any actual temperature change. Competition is expected to remain fierce for available listings. Savvy sellers and buyers know that deals can be made well into the school months, as household formations take on many shapes and sizes.

New Listings decreased 2.8 percent for Single Family homes and 1.9% for Condominium homes. Pending Sales increased 19.1% for Single Family homes and 29.2% t for Condominium homes.

Inventory decreased 9.9% for Single Family homes and 21.9 percent for Condominium homes.

Median Sales Price increased 4.2% to $700,000 for Single Family homes but decreased 4.8 percent to $400,000 for Condominium homes.

Days on Market decreased 5.8% for Single Family homes and 26.7% for Condominium homes. Months Supply of Inventory decreased
19.7% for Single Family homes and 29.9 percent for Condominium homes.

The prevailing trends lasted through summer. This was expected, since there have not been any major changes in the economy that would affect
housing. Factors such as wage growth, unemployment and mortgage rates have all been stable. Every locality has its unique challenges, but the whole
of residential real estate is in good shape. Recent manufacturing data is showing demand for housing construction materials and supplies, which
may help lift the ongoing low inventory situation in 2018.

I am wondering what the affects of the recent hurricanes in the  Gulf Coast, Florida and the Caribbean will have on Maui’s Real Estate Market.

For an indepth look at Maui’s real estate market, contact Michele Muir White R(S), 71240, ABR, SFR, Coldwell Banker Island Properties, Wailea 808.298.8448, MicheleWhite@hawaii.rr.com

 

May 2017 Maui Real Estate Stats Home prices across the U.S. are reaching all-time highs, prompting worry over another boom-and-bust scenario like we experienced roughly ten years ago. Yet, as we glance across the state of residential real estate, what is clear compared to the last extended run of price increases is that lending standards are now much stronger than they were before. Incomes must be verified, a reasonable amount of money must be paid toward the home prior to purchase and a more stringent loan approval process is in place to prevent a repeat performance of the Great Recession. New Listings increased 3.2 percent for Single Family homes and 16.2 percent for Condominium homes. Pending Sales increased 16.3 percent for Single Family homes and 33.3 percent for Condominium homes. Inventory decreased 12.1 percent for Single Family homes and 21.5 percent for Condominium homes. Median Sales Price increased 12.4 percent to $700,000 for Single Family homes and 13.5 percent to $479,000 for Condominium homes. Days on Market decreased 20.5 percent for Single Family homes and 5.8 percent for Condominium homes. Months Supply of Inventory decreased 13.6 percent for Single Family homes and 29.3 percent for Condominium homes. In addition to a stronger base upon which to conduct real estate transactions, the overall economy is in better shape than it was a decade ago. More jobs are available, unemployment is relatively low and workers have more faith in their wages and the potential for wage increases. Although we continue to battle an inventory shortage in much of the country, optimism remains high for a successful summer for buying and selling homes. Quick Facts + 5.2% + 9.3% – 17.7% Year-Over-Year Change in Closed Sales All Properties Year-Over-Year Change in Median Sales Price All Properties Year-Over-Year Change in Homes for Sale All Properties This is a research tool provided by the REALTORS® Association of Maui, Inc. Percent changes are calculated using rounded figures. Single Family Market Overview 2 Condominium Market Overview 3 New Listings 4 Pending Sales 5 Closed Sales 6 Days on Market Until Sale 7 Median Sales Price 8 Average Sales Price 9 Percent of List Price Received 10 Housing Affordability Index 11 Inventory of Homes for Sale 12 Months Supply of Inventory 13 All Properties Combined 14 Current as of June 5, 2017. All data from the REALTORS® Association of Maui, Inc. Report © 2017 ShowingTime.