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Market Update
One great way of deciphering real estate markets is to track where the money is coming from. Lately its been flooding in from Canada. Canadian buyers are making a significant mark on Maui Real Estate. It's pretty easy to understand why. The most important reason is the rise of the Canadian dollar. Take a look at how the Canadian dollar's buying power has evolved since 2003:
|
Year |
Value |
Per $500K |
|
2003 |
.72 |
$360,000 |
|
2004 |
.77 |
$385,000 |
|
2008 |
.88 |
$440,000 |
|
2010 |
1.03 |
$515,000 |
*Value=Canadian dollar compared to US dollar
The graph above illustrates just how far the Canadian dollar has come. With the recent ascent of the Canadian dollar, and property values having decreased since their 2006 highs, it's no wonder why Canadians are snatching up property on Maui.
Mahalo Nui Loa,
The Smith Team
P.S. Due in large part to Canadian buyers and investors, inventory levels have been reduced significantly. On April 7th, 2009, there was over 2.6 years of condo inventory for sale. Today, two years later, there is less than 10 months supply of Maui condos for sale. Noteworthy? You bet.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
 
Market Watch for May 9th, 2011
|
|
Active |
Pending |
Sold |
Change |
|
Homes |
802 (294) |
229 (26) |
842 (99) |
-3 |
|
Condos |
1070 (197) |
246 (20) |
1125 (119) |
-22 |
|
Land |
525 (127) |
31 (6) |
119 (13) |
+3 |
|
Total |
2377 (618) |
506 (52) |
2086 (221) |
-22 |
|
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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15 Malakai Lane
Wailea
$7.95M (FS)
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Hale Mohalu (House of Relaxation) is situated on at Maluhia in Wailea, Hawaii. Maluhia is the only private beachfront residential community in the world famous resort of Wailea, Maui.
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Homes Under $1M
321 Manini Place
Kihei
$289.9K (FS) |
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Bank Owned. Large home in Kihei Heights. Plenty of parking with this long driveway, makes this home ideal for extended family.
Customer Listing Synopsis
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676 L. Kimo Drive
Kula
$484.5K (FS) |
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Bank Owned. Darling, fairly new home & cottage.
Customer Listing Synopsis
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632 Wainee Street
Lahaina
$535K (FS)
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Bank Owned. Come and see this large, two story home with detached cottage, conveniently located in Lahaina Town. Just an easy stroll to Front Street. Lots of room for parking, yard is fenced. Main house is setup with mother-in-law quarters.
Customer Listing Synopsis
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163 Elilani Street
Pukalani
$599K (FS)
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Bank Owned. This property has a total of 10 bedrooms and 7 baths. Though it is one home with an ohana unit, the main home is set up to have 4 seperate living areas. 2 3 bedroom 2 bath and 2 1 bedroom 1 bath, all with separate entrances.
Customer Listing Synopsis
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690 E. Kuiaha Road
Haiku
$860K (FS)
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Designed to take advantage of its unique tropical setting, this exquisite gem is situated along the edge of a lush gulch, surrounded by “Garden of Eden” views. Island woods accentuate and provide warmth throughout the home. The storage/workshop area transitions into comfortable guest quarters.
Customer Listing Synopsis
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Vacation Condo Over $1M
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Honua Kai #503
Ka'anapali
$2.499M (FS)
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Listen to the sounds of the ocean from this 3 bedroom 3 bath condominium which overlooks the ocean and three beautiful pool areas at Honua Kai. This fully furnished property has designer appointments such as granite counter tops and fine quality furnishings. A spacious lanai enhances the outdoor living.
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Vacation Condos Under $1M
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Kihei Bay Surf #127
Kihei
$103K (FS)
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Bank Owned. Great opportunity to own a ground floor studio in Kihei Bay Surf. Enjoy the pool, tennis court, and the BBQ area, as well as the beach park directly across the street.
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Keawakapu #204
Kihei
$173.2K (FS)
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Bank Owned. Keawakapu is a small little known complex in S. Kihei; one 3 story building with 18 units the grounds have a peaceful tranquil feel from the time you enter the parking area. Partial ocean views from with great floor plan.
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Kahana Outrigger 2B-1
Kahana
$565K (LH)
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Short Sale. 2B-1 is a newly remodeled 2-Story, upper-level unit that looks and feels like a private beach-front getaway! This oceanfront residence features 3 bedrooms and 2 baths.
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Residential Condos
Kanani Wailea #5
Wailea
$899K (FS) |
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Short Sale. Old Hawaiian charm w/new Hawaiian Elegance having the privacy of a single family home w/all the conveniences & amenities of condo living is how the Kanani (the pretty) Wailea is described by its developer and we agree.
Customer Listing Synopsis
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Na Hale O Makena C-102
Makena
$1.275M (FS)
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Enjoy island living in this spacious 2 bedroom, 2.5 bath luxury condo with over 2,000. sq. ft of living area & large covered lanai.
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Vacant Land
264 Papohaku Ranchlands
Molokai
$625K (FS) |
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Oceanfront property on 3 mile Papohaku Beach. Improvement includes a gravel driveway. Lot is level and wooded. Photos of the beach are the adjacent conservation zone and fronts lot 264.
Customer Listing Synopsis
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