|
Aloha ,
Market Update
The Maui rental market has become increasingly challenging over the past several years due to a combination of issues. The issue is not the availability of rentals but the affordability.
A modestly sized 2 bedroom rental in a rural area such as Haiku rents for about $1600/ month. Suggested rent equations say that your rent should be about 30% of your monthly income, meaning you would need to be making more than $4000/month to afford the previously mentioned 2 bedroom in Haiku.
Maui landlords have had alternative options to renting their spaces monthly using vacation rental sites such as VRBO and AirBnb. When vacation renting by the night landlords can make $6000/month rather than $1600/month.
Recently Maui County has gotten tougher on issuing vacation rental permits and harsher punishments for illegal vacation rentals so there are many rentals which are back on the market. However, some landlords have gotten used to receiving these higher rental rates.
It is a renter's market, so landlords have the ability to be picky when choosing renters. It can be especially difficult for renter's with pet's to find suitable housing, breeds such as pitbulls are even further discriminated against.
Rental prices for a 4 bedroom single family home can be like basically paying a mortgage so it's a great time to buy rather than rent.
Have a wonderful week,
Lindsey for The Smith Team
Ken, Melissa and Lindsey
P.S. - Looking for something different and exciting to do on Maui without breaking your budget? Here's 25 free things to do on Maui. My favorite are the Friday Town Parties, which take place in a different town each Friday of the month.
Melissa Smith R (B), Ken Smith R (S)
Market Watch
| |
Active
|
Pending
|
Sold
|
Change
|
|
Homes
|
529 (300)
|
271 (44)
|
1124 (189)
|
-21 |
|
Condos
|
842 (193)
|
245 (32)
|
1211 (154)
|
-6
|
|
Land
|
379 (143)
|
33 (10)
|
157 (22)
|
0 |
|
Total
|
1750 (636)
|
549 (86)
|
2492 (365)
|
-27 |
|
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.
|
|
Homes Over $1M
143 Waipoli Road
Kula
$1.17M (FS) |
Almost 1.5 acres with breathtaking views from the lanais and most rooms of the residence, complete privacy, superbly landscaped and most elegant yet cozy interiors characterize this tucked away residence in the heart of Kula. This large 4 bed, 3 bath home has the master on the bottom floor and is perfect for extended family.
|
2116 Mahinakea Street
Wailuku
$1.449M (FS) |
You will fall in love with this gorgeous single level, open floor plan home located in the highly desirable "Wailuku Country Estates." So close to town and yet away from it all. Resplendent with ocean views and backed by the majesty of the West Maui and Haleakala Mountains, this thoughtfully designed home with 4 Beds, 4 baths, seamlessly integrates indoor/outdoor living.
|
3035 Baldwin Avenue
Makawao
$6.M (FS) |
Price Reduced - Extraordinary Upcountry, there are only a few properties on Maui that capture and embrace Maui’s diverse beauty, tranquility and complete privacy while providing a unique proximity to all the amenities Maui has to offer. Situated at an ideal climate elevation of 1,200’ on the slopes of Haleakala, this amazing gated 70.75 acre property commands stunning views.
|
Homes Under $1M
44 Lino Place
Pukalani
$395K (FS) |
Bank Owned - Great opportunity, fixer-upper in Pukalani, conveniently located near schools, shopping and dining. Large yard with a mature mango tree. This 3 bed, 1 bath, old plantation style home has tremendous potential.
|
1940 Pakaku Place
Wailuku
$398K (FS) |
Waihee, 2 story home with open and spacious living, dining and family room area combination on first level. Master bedroom and bath on second level. Bonus room with non-conforming bathroom in back of carport. Extra-large covered porch/deck makes a great retreat for privacy, visiting with friends, or enjoying a beautiful Hawaiian day.
|
1590 Kamehameiki Road
Kula
$679.9K (FS) |
Come visit this classic Lindal Cedar home located on half an acre on a quaint upcountry road. This charming home is further enhanced with a wood burning stove that raises the already high cozy factor. The home is multi-level with 1 bedroom, private deck, half bath and an office loft area on the top level.
|
 455 South Lanai Avenue
Kahului
$749K (FS) |
Bank Owned - If your extended family is really big, this house is for you. With 4 beds, 2 baths in the main house and a 5 beds, 4 baths in the ohana there is room for everyone in this conveniently located Kahului home.
|
Vacation Condos Over $1M
Vacation Condos Under $1M
Kihei Akahi #C-213
Kihei
$309.9K (LH) |
Rare opportunity to own this beautifully well-kept Kihei Akahi condo unit on the ground floor of building "C". This means you and your guests can walk directly out to the lush tropical grounds and utilize that space as well. This condo has upgraded lower kitchen cabinets along with updated appliances.
|
Kamaole Sands #9-404
Kihei
$499K (FS) |
This spacious 2 bed, 2 bath condo is located on the quieter side of the complex. Recent upgrades to the unit include being freshly painted, removal of the "popcorn" ceiling, new drapes, large ceramic tiles installed on the diagonal in the main living area and the extra-large lanai.
|
Kihei Beach #508
Kihei
$639K (FS) |
Sweeping ocean and outer island views that go on and on from the lanai, and Haleakala views from the entrance. Situated on Sugar Beach, Maui’s longest white sandy beach, this 1 bed, 1 bath, 732 sq. ft. vacation rental condominium is the perfect Maui retreat. There is an 81 sq. ft. lanai to enjoy whales breaching, turtles swimming, paddlers passing by, and beautiful Maui sunsets.
|
Residential Condos
Iao Parkside #IV-B
Wailuku
$210K (FS) |
Bank Owned - Ground floor unit located in Iao Parkside. 2 beds, 2 baths with an open kitchen and 796 sq. ft of living area. Conveniently located near hospitals, schools, shopping and dining.
|
Southpointe at Waiakoa #2-102
Kihei
$285K (FS) |
Beautiful and private ground floor 2 bedroom / 1.5 bath unit at Southpointe at Waiakoa. Updates include laminate flooring throughout, interior paint, and a new vanity cabinet in the bathroom. There is a large fenced in yard. Complex allows pets. Ready to move in. 2 parking stalls.
|
Wailele Ridge #6B
Napili
$399.9K (FS) |
At the gateway to Kapalua, and just minutes from dining and shopping in historic Lahaina town and Ka’anapali, you’ll find a very special Maui real estate community named Wailele Ridge. In Hawaiian, Wailele means “leaping waters,” and water in all its forms is at the heart of this private enclave of new condominium townhome.
|
Vacant Land
36 Kapueone Place
Wailuku
$295K (FS) |
This lot offers beautiful ocean and mountain views from the top of the desirable gated community, Sandhill's Estates on the island of Maui, Hawaii. The central location is convenient for shopping, beaches, and schools. It is ten minutes from the airport, and Maui Arts and Cultural Center.
|
|
