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Aloha
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In this newsletter:
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Epic Luxury
in Makena
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Market Update
In an interview with The Maui News, the Chief Economist with the Department of Business, Economic Development and Tourism Eugene Tian stated that nearly 30% of the homes that were purchased in the better part of 2020 were purchased by out-of-state residents. Of those buyers 27.4% were from the mainland, and 1.4% were international. While this number seems high, out-of-state residents usually purchase nearly 50% of the available real estate on Maui.
The data is still being assembled for the demographic breakdown of these out-of-state buyers, as it is unclear whether most of those purchases were made by investors, or those seeking to move their principal residence to Hawaii now that most employees and business owners can work from home.
The three aspects of the current real estate market that appear to show no signs of slowing are low inventory levels, low interest rates on new mortgages and a climbing median sales price for both condos and single family homes. In December, the Realtors Association of Maui recorded the lowest inventory ever since they began keeping records in 2010. New construction is still very active on Maui, with several affordable housing projects as well as luxury condominium complexes set to be completed between now and 2022.
To read the full interview The Maui News did with Eugene Tian click here.
Mahalo Nui Loa,
Ken Smith R(S), Melissa Smith R(B), and Gregory P Smith R(B)
The Smith Team
P.S. Homeowners, especially those who have not been able to return to work since the COVID-19 pandemic began, are feeling the burden of property taxes. In an effort to help, Mayor Michael Victorino has authorized a 60-day deferral of the 10% penalty for Real Property Taxes due on Feb. 20, 2021. Assessment of the penalty will be deferred through April 21, 2021.
Details of the 10% penalty deferral include:
- The deferral is for the 10 percent penalty for real property taxes due on Feb. 20, 2021 only.
- To avoid the 10 percent penalty, taxpayers must submit payments, in full, by April 21, 2021. Any outstanding balance owed as of April 22, 2021, will be assessed the 10 percent penalty.
- One percent interest on unpaid balances after Feb. 20 will not be waived. Interest will accrue monthly beginning on March 1 and continue until the balance is paid.
All payments may be sent to: County of Maui, Department of Finance, Treasury Division, Real Property Tax Collection, 110 Alaʻihi Street, Suite 108, Kahului, HI 96732.
You can find contact information as well as more information about Maui Real Property Taxes by clicking here.
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Active
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Pending
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Sold
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Change
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Homes
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258 (187)
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228 (83)
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1060 (333)
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-3 |
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Condos
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598 (174)
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305 (52)
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1330 (272)
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-21 |
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Land
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225 (75)
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89 (28)
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212 (32)
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0 |
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Total
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1081 (436)
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622 (163)
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2602 (637)
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-24 |
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1. The numbers in parentheses reflect the number of listings over $1M
2. Sold listings are for the previous 12 months.
3. Change is the increase or decrease in number of active listings from the previous week.
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Homes Over $1M
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507 Lower Kimo Dr
Kula
$1.25M (FS)
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A "Fixer Upper" investment property with ocean and mountain views. Includes four structures on over one acre of beautifully manicured landscaping with mature Koa, Monterey and Cook Pines, Ficus, Avocado and cotton trees. There is long term rental history for the 3 free-standing dwellings including a 4 bed, 2 bath, a 2 bed, 1 bath and another 2 bed, 1 bath; each with their own covered car ports and appliances.
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75 Ikena Kai Pl
Kula
$2,699,000 (FS)
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Designed by local architect Hunton Conrad, this expansive estate on 6.3 acres is located in the pastoral gated community of Omaopio Ridge in Lower Kula. Serene, peaceful and private would be the first words that come to mind to describe this 3,694 sf; 3 bed, 3.5 bath home. The elevation is perfect, the bi-coastal views are magnificent and sunsets are breathtaking.
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111 N Kihei Rd
Kihei
$8.25M (FS) |
This 3 bed, 3.5 bath beach front home features two stories of modern outdoor oceanfront living perfect for enjoying the Maui outdoor sporting lifestyle on Sugar Beach, one of the longest white sand beaches on Maui. This all-custom designed home situated on over a half acre is a short drive to the award-winning King Kamehameha golf course, top tier dining and spa facilities in Wailea.
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Homes Under $1M
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45 Hoowehi Pl
Maui Lani
$775K (FS)
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This is an excellent opportunity to own a well-maintained 4 bed, 2.5 bath, 2-story residence with 1,584 sf. of living area. A newly upgraded central air conditioning unit assures year long comfort. The floor plan is spacious, consisting of a living room/great room, dining area, and wood laminate floors throughout.
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71 Loa Pl
Napili
$810K (FS)
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Feast your eyes on this lovely single-story gem in the upper Napili Hale Noho Subdivision. A quaint and comfortable 3 bed, 1.5 bath home with gorgeous tile floors in the kitchen and wood laminate throughout. Enjoy a bright and inviting open kitchen, a spacious living area/great room with built-in shelves and a stylish bay window.
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531 Polulani Dr
Wailuku
$839K (FS)
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Bank Owned - Located in the much desired Wailuku Heights neighborhood, this home has amazing views of the ocean, mountains, and Wailuku town with a large deck to sit out and enjoy these views. The master bedroom and bath along with the other 3 bedrooms and full bath are all located upstairs. the laundry room and half bath are located downstairs.
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13 Waikalani Pl
Kihei
$845K (FS)
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A beautiful Kihei home, located close to the beach with a solar PV system, central AC, 4 beds, and 3 baths. The garage has also been converted into a very large studio with vaulted ceilings and wet bar. All of this right off of Kulanihako St, directly adjacent to where the new Kihei High School is currently being built.
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4540 Lower Honoapiilani Rd
Kahana
$989K (FS)
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This large, 4 bed, 3.5 bath, two-story home with an enclosed garage in Napili has great bones, great potential, and is just steps from the ocean at the end of a short cul-de-sac. The property is perfect for a buyer who wants to add "sweat equity", make repairs, and bring this great home up to the standards of surrounding properties.
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Vacation Condos Over $1M
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Grand Champions #143
Wailea
$1,165,000 (FS)
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Ideally positioned within the Grand Champions complex lies Unit 143, an exceptional ground floor corner unit offering unmatched privacy and awe-inspiring views of the Wailea Blue Golf Course. Upon entering this 3 bed, 2 bath condo, you’re welcomed by a stunning newly remodeled open kitchen, a spacious living room area and large sliding glass doors that bring in ample amounts of natural light.
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Puamana #24-4
Lahaina
$1.65M (FS)
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Grab your board and in a few steps, you are at the beach. After a day in the ocean or the pool, enter the lanai area from your private side entry. Grill dinner on the gas BBQ and enjoy meals on the shady back lanai with your ohana. You can check the ocean conditions first thing in the morning from your pillow in the main bedroom upstairs!
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Whaler I #821/823
Kaanapali
$2.35M (FS)
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Experience expansive ocean and breathtaking mountain views from this pristine residence at The Whaler on Ka'anapali Beach! Located on the 8th floor facing the inner courtyard, this spectacular luxury condominium features a spacious floor plan with 2 beds, 2 baths and a private wrap-around lanai.
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Wailea Point #602
Wailea
$6,975,000 (FS)
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Possibly Wailea Point’s most modern and exquisite interior – completely remodeled by acclaimed contractor Ben Cerda in 2019. This world class oceanfront location 75 feet from the shore is made more stunning by the new, all-glass bay windows. The unit faces SW perfectly toward Molokini & is protected from the trades.
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Wailea Point #1601
Wailea
$12.5M (FS)
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An unbelievable oceanfront location with two huge ocean-facing lanais. This is a rare “double” unit with an enormously spacious main living area - all on one level for easy living. There is a wall bed in the north end of the great room, which creates a lovely 4th sleeping area. Enjoy 180-degree ocean views from 26 ft. above the sea and Polo Beach.
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Vacation Condos Under $1M
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Aina-Nalu #C206
Lahaina
$470K (FS)
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A rare opportunity to own this luxurious 1 bed, 1 bath condo at the beautiful Aina Nalu resort in Lahaina. This upgraded, second floor condo has been meticulously maintained and managed by the professional property management of Coconut Condos, and is a part of their premier rental collection.
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Kamaole Sands #8-101
Kihei
$499K (FS)
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A gorgeous newly renovated 1 bedroom, 2 bath ground floor unit at Kamaole Sands located in South Kihei. This unit has an open kitchen and living room concept with laminate flooring throughout, updated kitchen with maple cabinets, tiled shower in the bathroom, washer/dryer in unit, and air conditioning. It comes turn key and fully furnished with a fully equipped kitchen, queen sofa sleeper in the living room, and a king sized bed in the bedroom.
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Maui Parkshore #213
Kihei
$688K (FS)
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A prime ocean view location for this 2 bed, 2 bath, nicely maintained condo. In only a few steps across the street you can escape to a beautiful park and sandy beach locale. Shopping and dining are also a few steps away.
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Maui Banyan #P403
Kihei
$775K (FS)
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Best location in the complex! Enjoy superior ocean views from this top floor 2 bed, 2 bath penthouse unit at Maui Banyan located in South Kihei. This is a lock off unit which allows you the flexibility to use it as a studio and a 1 bed, 1 bath or a 2 bed, 2 bath unit. This is a beautiful unit with an open kitchen and living area. It also has a fully equipped kitchen with stainless steel appliances.
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Residential Condos Over $1M
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Na Hale O Makena #D202
Wailea
$1.65M (FS)
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This is Makena living at its finest! Na Hale O Makena or “The House of Abundance” blends the feel of old Hawaii with luxurious modern appointments to create a truly spectacular setting. From the moment you enter through the generous French doors you will be captivated by the commanding ocean view and lush tropical landscape. With over 2,100 sf of living area this 3 bed, 2.5 bath residence offers an open concept design with ample room for entertaining and dining with friends and family.
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La'i Loa #5B
Wailea
$2,145,000 (FS)
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This 3 bed, 3 bath home features an open and airy floor plan of approximately 1,746 sf. A timeless color palette is warmed by subtle textures and clean, contemporary lines for a visual kinship with the surrounding landscape, while premium design elements such as quartz countertops elevate each home to a sophisticated place.
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Residential Condos Under $1M
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Maui Gardens #A-103
Kihei
$389K (FS)
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Moments from the ocean, situated near on-property tennis courts, the pool, jacuzzi, and the onsite property managers office, is unit A-103. A complete and high-end remodel was undertaken in 2018, to create a contemporary open floor plan that is move in ready.
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Flats at Kamalani #706
Kihei
$529K (FS)
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This is one of South Maui's newest condo communities and it is a pet friendly complex with 2 dedicated parking stalls. This 3 bed, 2 bath, corner unit has modern exterior finishes with steel frame construction. Features, high-speed fiber optic internet, full furnishings with new carpeting throughout; stainless steel appliances, kitchenware, and linens.
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Maalaea Banyans #210
Maalaea
$539K (FS)
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Offering one of the most beautiful, remodeled, 1-bed, 1 bath, fully furnished units on this stunning beachfront! Every detail added to give you both luxury and comfort, as well as unobstructed year round ocean and Haleakala mountain views. Whale watch right from your lanai.
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3378 E Lani Ikena Way
Wailea
$699K (FS)
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A cleared, level, spacious flag lot conveniently located on a cul-de-sac in the well cared for gated community of Wailea Pualani. Architectural home renderings and survey are available upon request. Views of the ocean available from a two-story home. The neighboring homes are of high-quality and consistent with the overall feel of this subdivision.
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