Traveling to Hawaii is certainly not as easy as it used to be, but in a recent survey conducted by  the Hawaii Tourism Authority it was found that out of the 495 visitors that were surveyed 85% said their trip was excellent, and 94% said their trip either met or exceeded expectations. This is great to see, as it means that the number of tourists making the journey to Hawaii in 2021 should continue to rise.

While tourism numbers are not nearly what they were in 2019, the Pre-travel Testing Program allows anyone traveling to Hawaii to bypass the 10-day mandatory quarantine, which would make any vacation immensely more enjoyable. Out of the visitors that were surveyed, 79% said that their pre-travel testing experience went smoothly, and the protocols were clear. The remaining 21% reported various issues with pre-travel testing including difficulty finding a trusted testing partner, and not receiving their results within the specified window.

We will continue to look forward to a rise in tourism numbers as the local economy recovers from the COVID-19 pandemic. To look at the full report, follow this link.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.
 
Due to the spike in COVID-19 cases on Maui, Governor Ige gave Mayor Michael Victorino the authority to amend the current emergency rules. The new rules go into effect today. Here are the highlights.

- Retail occupancy is now limited to 30% to allow more room for social distancing.

- Bars and restaurants are now required to close at 10pm or earlier. Drive-throughs, non-liquor related takeout and room service are all exempt from this new rule.

In addition to pre-travel testing requirements for both inter-island and transpacific travelers, they are also now required to download either the AlohaSafe Alert app or another Google-Apple Exposure Notification System app. Travelers can also enable their exposure notification setting on their phone.

Face coverings must now be worn while walking to and from the beach or pool. They can only be removed once you are stationary and socially distanced from the people around you.

-Even if the venue is outdoors, a mask must be worn at gyms, yoga studios, and wellness centers.

While these rules mentioned  above are slightly different from rules that were already in place, it’s important to keep yourself informed on the latest developments coming out of the Mayor’s office.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Smith Team Real Estate - 2 Generations of Satisfied Customers - (808) 572-0866
About Maui Our Listings Property Search Rentals Blog Contact Us
 
Issue 990 February 22nd, 2022
 
 

Aloha


In this newsletter:
Market Update
Market Watch
Homes Over $1 Million
Homes Under $1 Million
Vacation Condo Over $1M
Vacation Condos Under $1M
Residential Condos 
Vacant Land 


Bank Owned 
Homes (1)
Condos   
Land
New Properties 

Price Reductions 

Short Sales
Homes 

Condos 
Land (1)
New Properties

Price Reductions  

Luxury West Maui Estate

 220-paia pohaku 

220 Paia Pohaku Place
Launiuopoko

$4.5M (FS)


Hawaii Ranks 9th in Ultra High-End Real Estate
 

The ultra high-end real estate market (properties sold at or over $10M)  saw record-breaking high volumes in 2021, a trend which does not appear to be slowing down in 2022. The Hawai'i Business Journal reported Hawai’i ranked 9th across 30 markets nationally for ultra high-end home sales, behind Los Angeles, NYC, and Palm Beach, Florida, which took 1st, 2nd and 3rd place respectively. 

 

Hawai’i saw 78 sales in this ultra luxury category, three times the amount of the previous year, at a dollar volume of $1.1 billion. Despite a narrow inventory, Maui has centered a lot of the transactions in this unique market. In 2021, Maui closed on 217 ultra high-end sales (125-home, 83-condo, and 9 land transactions) according to an article from Pacific Business news.

 

The second highest recorded property sale in state history took place on Maui in 2021 at $45 million. Hawai’i island, Oahu and Kaua’i also saw luxury sales ranging from $20-$43 million last year.

 

Check out the Compass report to learn more about this specialty market, however, keep in mind it did not include the $78 million off-the-market purchase of Amazon founder, Jeff Bezos’ secluded South Maui property. Despite the uncertainty and potential of rising interest rates, it seems likely that Maui will remain in the spotlight of luxury sales again this year. 

 

Mahalo Nui Loa,

Ken Smith R(S), Melissa Smith R(B), and Gregory P Smith R(B)

The Smith Team

 

P.S. As of February 21st, proof of vaccination or booster status is no longer required for patrons to dine in-doors at Maui’s restaurants. Check out this Maui Now article for more details.

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Market Watch
 
Active
Pending
Sold
Change
Homes
181 (167)
214 (115)
1361 (684)
-10
Condos
143 (65)
366 (158)
2669 (734)
-6
Land
106 (48)
 65 (17)
390 (115)
-4
Total
430 (280)
645 (290)
4420 (1533)
-20
 
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 the number of active listings from the previous week.

 

Homes Over $1M

 124-Ikena Kai 
124 Ikena Kai Place
Kula

$4.188M (FS)

This beautiful Omaopio Ridge home is accessed through a gated, stunning tree-lined drive. Breathtaking panoramic views, situated on a private 5-acre lot, this 4br/4ba, 3,768 sqft. executive property, conveys serene tropical vibes with gorgeous exotic landscaping.



Customer Listing Synopsis
Video Tour

207 Uakoko
207 Uakoko Place
Haiku

$3.995M (FS)
A spectacular home with breathtaking north shore views, an attached ohana and unmatched privacy with a prime cul de sac location. It's situated on nearly 3 acres with mature flower & fruit orchards , multiple lawns, edible gardens, and inspiring, newly built outdoor entertaining areas. 



 
 3993 Maalaea 
3993 Maalaea Bay Place
Maalaea

$2.5M (FS)
Here is a rare oceanfront location on Maalaea Bay Place with phenomenal ocean views. Centrally located to West Maui, South Maui and airport. The property is being sold for land value only. The main home and ohana are currently rented to long-term tenants. The structures are being sold in an "As Is" condition.
 
285
285 Ohina Place
Kihei

$1.65M (FS)
Fully remodeled in 2021 with a beautiful ocean view, this Indonesian-style 2db/3ba home, with a detached unit, offers utilities plus a full bathroom on the ground floor, an open concept kitchen/dining/living room with en-suite master bedroom, guest bedroom, and 2nd full bathroom on the main floor, plus a fantastic loft for indoor entertainment on 3rd floor.

Homes Under $1M

176 kupuna
176 Kupuna Street
Kihei 

$997,885 (FS)

This 3bd/2ba home includes an enclosed 2 car garage and a total of 1758 sf. of interior living space. The primary bedroom and family room open up to a private back yard, ideal for family entertaining. The R-2 county zoning and lot size of 7501 sf offer the potential for an ohana or pool.





Customer Listing Synopsis

116 Hiwalani
116 Hiwalani Loop
Makawao

$730,400 (FS)
Enjoy the vast amounts of outdoor recreational activities, golfing, restaurants, and shopping just a short distance away. This residence features outdoor entertaining space, a private yard with lanai, and 3bd/2bs. Excellent opportunity to put your finishing touches on this gem.



 

Customer Listing Synopsis
225 papa ave
225 S Papa Avenue
Kahului

$650K (FS)

Great West Maui Mountain Views from this older home in the heart of Kahului. The property needs a complete makeover, but offers a 7675 sq.ft lot with a gentle slope and ample room to either renovate or to build a new house and additional cottages. Property to be sold is being sold in an "as-is" condition.

 



Customer Listing Synopsis

Vacation Condos Over $1M

2903 Wailea Point
Wailea Point #2903
Wailea

$5.5M (FS)
A rare opportunity to own this 2bd/2ba unit in South Maui's most elegant, luxurious and private communities. A one million dollar, floor to ceiling, to-the-studs remodel including both bathrooms, kitchen and enclosing the lanai with retractable sliding doors, increasing the indoor living space to 1897 square feet.

 
742-Honua kai
Honua Kai #742
Kaanapali

$1.975M (FS)
Majestic ocean and island views across beautifully landscaped resort grounds await you from this lovely 2bd/1ba unit. Folding Nano doors give the ultimate feeling of the indoor-outdoor experience. New pictures are being taken and currently in a very busy rental program with limited openings to show.



 
 52D-Wailea Ekahi 
Wailea Ekahi #52-D
Wailea

$1.299M
 (FS)
This single level/2nd floor breezy corner unit with 12' high ceilings to view the lush tropical garden scenery, offers an excellent home away from home experience. New bamboo flooring, A/C and enclosed outdoor space are just a few of the features that set this unit apart. 



 
 

Vacation Condos Under $1M

302-B Hololani
Hololani #302-B
Kanaha

$799K (FS)

Enjoy incredible ocean views from your lanai of this spacious unit. Located in a quiet area on the lower road of West Maui, Hololani is a low-density complex offering privacy and beauty. The underground parking with extra storage area leads to the elevator providing easy access to this private 2bd/2ba unit. 
 

Customer Listing Synopsis

131-kihei kai nani
Kihei Kai Nani #131
Kihei

$548,880K (FS)
Here's a fabulous end-unit condo with extra windows, light and bright, across the street from Kamaole II beach, and conveniently located near restaurants and shopping. Single level ground floor 1bd/ba furnished hotel zoned vacation rental situated in an extremely private setting with lanai and garden area. High sliding glass lanai doors and tile flooring throughout. 

 
Kihei Akahi-16G
Kihei Akahi #D-G16
Kihei

$499K (FS)

This sweet little unit is in the D building at the back of the complex, away from the street noise, but just a short stroll down the private driveway to Kamaole Beach II. Located on the ground floor, when you walk into your turnkey unit, you have everything you need to live or rent long or short term.




Customer Listing Synopsis

Residential Condos Over $1M

Kapalua Ironwoods #12
Kapalua 

$3.495M (FS)
This coveted location hasn't been offered for over thirty years. Consisting of approximately 2,113 sqft. interior space, a ground floor location with marble floors throughout has 2bd/3ba and an additional study that has many options for use. A separate one-car garage structure with storage is also included. This residence has amazing views, is near the world-famous Kapalua Golf course and is being sold unfurnished.

 

Residential Condos Under $1M

Hale Kanani #2-303
Kihei

$800K (FS)

Located in the heart of Kihei, Hale Kanani is a pet-friendly 4-building complex, situated across from Cove Beach Park and Charley Young beach. This lovely 3bd/2ba unit has wonderful ocean and sunset views from the lanai and offers a shared saline pool, jacuzzi, and BBQ area. Each unit includes two parking spaces and there is an elevator for each building.
 



Customer Listing Synopsis

836-Villas at kahana Ridge
Villas at Kahana Ridge #836
Kahana

$699K (FS)

This spacious 3bd/3ba unit is clean and has been well maintained. There are vaulted ceilings that allow lots of natural light along with the skylight in the third loft-style bedroom. This condo comes with a large stackable washer/dryer and AC units to keep you cool. You will enjoy amazing sunsets and ocean views on your private lanai. This complex is pet friendly and allows long-term rentals.


Customer Listing Synopsis

706-Hoolea Ter
Hoolea Terraces #706
Wailuku

$550K (FS)

A beautiful, well-cared for interior that features a nine-foot ceiling throughout with ceiling fans in each room and a well-equipped kitchen offering cherry-finished cabinets. Enjoy the cool, refreshing climate with views of the Haleakala. This unit has a washer/dryer and includes 2 assigned parking stalls (92 and 93), plus guest parking.



Customer Listing Synopsis

 
Vacant Land
 
0 Kula Place #3-B
Kula

$899K (FS)

Spectacular new listing in Lower Kula with water meter and underground utilities already installed. Kulaiki is an agricultural subdivision comprised of 7 lots between Kula Hwy and Lower Kula Rd just off Omaopio Rd. The property offers both south and north shore ocean views as well as Haleakala views. Kulaiki is located approximately 5 minutes driving time from Pukalani and Makawao.
 

Customer Listing Synopsis

 
The Smith Team
www.MauiSales.com
(808) 572-0866
 
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Coldwell Banker Island Properties
#B-35 3750 Wailea Alanui Drive
Wailea, Hawaii 96753
US

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