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Aloha
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In this newsletter:
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Exquisite Kula Estate
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Market Update
According to the Federal Housing Finance Agency, the maximum limit for mortgages acquired by Fannie Mae and Freddie Mac will increase in 2020 across all counties in the State of Hawaii. In 2019, the loan limit for one-unit properties was $726,525, while in 2020 the loan limit will increase to $765,600. The goal of the increased loan limit is to provide more buying power to the residents of Hawaii, who may be struggling to purchase their first home.
On a federal level, The Housing and Economic Recovery Act dictates the loan limit available to potential buyers must be adjusted every year to coincide with the changes in the US real estate market and the average home price. The loan limit for most of the country will increase to $510,400 in 2020.
The reason for the maximum loan limit being so much higher in Hawaii is because it is considered a high-cost area in which buying power is reduced for first time homeowners. The rise in home loan limits directly coincides with the rise in home values, so as the market in Hawaii continues to soar, we will most likely continue to see these limits rise year over year.
For a more comprehensive overview of what goes into deciding the loan limits every year, you can visit the FHFA’s website here. You can also reply to this email and we would be happy to connect you with someone who can discuss possible financing for a new home.
Mahalo Nui Loa,
The Smith Team
P.S. For fans of classic Hawaiian music and R&B you are not going to want miss the performance of the two-time Grammy Award winning artist Kalani Pe’a who will be performing in the Fountain Courtyard at The Shops at Wailea on January 15th from 5:30 to 7:00pm. The show is complementary and will feature songs from both of Kalani’s Grammy Award winning albums.
Melissa Smith R (B), Ken Smith R (S), Gregory Smith R (B)
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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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454 (286)
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181 (43)
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1111 (309)
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-9 |
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Condos
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478 (178)
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252 (71)
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1601 (236)
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-11 |
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Land
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309 (87)
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47 (16)
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173 (27)
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-9 |
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Total
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1241 (551)
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480 (130)
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2885 (572)
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-29 |
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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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7 Hui E Rd
Kahana
$1,350,000 (FS)
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This 2 bed, 2 bath property is steps from a beautiful sandy beach or you can stroll to the end of road for an incredible sunset viewing and meditation area. This property offers a large fenced yard and plenty of room to add a pool or conveniently park your boat. The home features high ceilings and huge deck off of the elevated living room.
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540 Kumulani Dr
Maui Meadows
$1,498,000 (FS)
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Located just minutes from Wailea Resort, this 5 bed, 5 bath home offers sweeping ocean views from the southern edge of Maui Meadows. The upper level of the home was lovingly updated & has central A/C, a chef's island style kitchen with custom granite counters & a full tile back-splash. There are stainless steel appliances & a plethora of maple cabinets.
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200 E Panana Pl
Wailea
$1,650,000 (FS)
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A truly elegantly designed home with high cathedral wood ceilings in the living room. Enjoy sliding doors that disappear in to the walls leading out to a fabulous tropical oasis with waterfall cascading into the very private pool surrounded by lush palm trees. This beautiful home has 2 bedrooms downstairs with their own bathrooms. Upstairs, you will find a large master bedroom with vaulted wood ceilings and a large ensuite.
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Homes Under $1M
2893 Iolani St
Pukalani
$575K (FS)
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This charming 2 bed, 1 bath home with beautiful mountain views has a great open floor plan. Many updates have recently been done including a new roof, new windows, new kitchen cabinets and countertops, flooring throughout, interior/exterior paint, a new water heater, and an A/C unit has been installed in the living room.
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704 Kilihau St
Wailuku
$599K (FS)
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Don't miss out on this newly remodeled 3 bed, 2 bath home in Waiehu Terrace. The kitchen features quartz countertops and brand new black stainless steel appliances. In addition, there is trendy vinyl plank flooring in the living room and hallway, and brand new carpet in each of the bedrooms.
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340 Liliuokalani St
Pukalani
$795K (FS)
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This unique and private 3 bed, 2 bath property has it all. Perfectly situated atop Pukalani Golf Course on the front row overlooking the 16th hole as well as Maui's north shore, this beautiful cedar home boasts the epitome of upcountry living combined with all the architectural details throughout and a new metal roof for a dramatic feature. It is charming and cozy, bringing in plentiful natural light through it's high ceilings, windows and sky lights.
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Vacation Condos Over $1M
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Royal Kahana #410
Kahana
$1.1M (FS)
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The soothing sounds of the waves coupled with panoramic views greet you at Royal Kahana #410. This 2 bed, 2.5 bath direct oceanfront opportunity offers over 1400 sf. of spacious living area including the wrap around lanai. Enjoy making memories filled with swimming turtles, plentiful onsite and nearby amenities and majestic sunsets.
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Grand Champions #169
Wailea
$1,295,000 (FS)
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A completely & beautifully remodeled 3 bed, 2 bath unit furnished with Hawaiian decor. Upgrades include granite counter tops, bamboo flooring throughout the bedrooms, travertine in the living, dining areas, kitchen and baths, oak cabinets, decorative lighting, all stainless steel appliances, newer air conditioners in all rooms, neutral paint, crown molding and the list goes on with numerous additional upgrades.
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Wailea Point I II III #3303
Wailea
$1,695,000 (FS)
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Enjoy ocean views from this lovely, ground floor 2 bed, 2 bath end unit. Features an extra large lanai, gorgeous Koa wood throughout, and a detached one-car garage. Wailea Point is gated with 24-hour security and is a beautifully maintained property. There are four pools including a 25-meter lap pool, 2 spas, a tennis court, a state-of-the-art gym, BBQ areas and two recreation areas with kitchens.
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Hoolei #H5
Wailea
$2.9M (FS)
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Special properties like Ho'olei Villa 81-5 rarely become available. This beautiful 3 bed, 3.5 bath villa is situated near the Ho’olei pool for your ease and enjoyment. The view is simply spectacular - with panoramic ocean vistas looking out towards the Pacific Ocean. Enjoy gorgeous sunsets sitting on the spacious covered lanai. Relax with the comfort and ability to "lock and go" while at the same time enjoy the comforts of a condominium designed to feel like a stand-alone residence.
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Vacation Condos Under $1M
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Shores of Maui #116
Kihei
$524,900 (FS)
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Enjoy spectacular ocean views from this 1 bed, 1 bath condo at Shores of Maui, one of south Maui's most desirable locations. Sitting directly across from "the cove" makes this a surfer or paddle boarders hot spot. Just a short distance to restaurants, shopping and south Maui's finest beaches.
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International Colony Club I #16
Kaanapali
$645K (FS)
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This 2 bed, 2 bath cottage has an updated kitchen and updated bathrooms, tile floors, and top of the line stainless steel appliances in the much sought after International Colony Club. Cottage 16 has split system AC as well as dual pane windows. This cottage comes completely turnkey with the exception of the owners personal effects and some artwork.
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Maui Sunset #B417
Kihei
$785K (FS)
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Enjoy stunning ocean views from this fourth floor, oceanfront 2 bed, 2 bath Maui Sunset unit. Floor to ceiling glass windows and glass sliding doors spanning 20 feet allow for easy access to the large lanai and giving both the living room and kitchen breathtaking ocean views.
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Grand Champions #27
Wailea
$798,880 (FS)
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Wailea Grand Champions Golf Villa #27 is your new turnkey home-away-from-home. Enjoy a large 2 bed, 2 bath flexible floor plan, that has been completely remodeled and is located in a very private setting with golf course and Haleakala views. Features a perfectly framed view of the ocean from the master bedroom. Enjoy your early mornings on the large lanai with beautiful Haleakala views.
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Kapalua Golf Villas #12P5-6
Kapalua
$999K (FS)
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In the prestigious Gold Program, this 2 bed, 2 bath downstairs unit with large, adjoining lanais is remodeled with travertine and granite, stainless steel appliances and is ready to call home or be used as a vacation rental. The Bay Course beckons golfers as it sprawls on the other side of the lanai. Merriman's, Napili Kai's Sea House and restaurants at Montage and their shops are a short walk down the hill.
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Residential Condos Over $1M
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Keala O Wailea #67-201
Wailea
$1,399,000 (FS)
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Keala O Wailea is a new development with stunning views of the South Maui Coastline, Ma’alaea Bay, and Haleakala. This location affords you with the utmost privacy and luxurious Wailea living. Keala O Wailea has 70 condominium units bordering the Wailea Blue Golf Course. This is a phenomenal value for a 3 bed, 2 bath end unit apartment that captures fabulous ocean and mountain views.
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Kai Malu #17B
Wailea
$1,495,000 (FS)
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Experience the very best Kai Malu Wailea has to offer in Villa 17B. Enjoy perfectly framed ocean views out towards the Pacific that will inspire you. Located in the heart of the Wailea Resort, this private 3 bed, 2.5 bath Maui getaway is truly a residence of distinction. Villa 17B features one of the largest fenced-in yard areas in the community, as well as it’s own private pool and spa.
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Residential Condos Under $1M
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Maui Gardens #A203
Kihei
$299K (FS)
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A furnished, move-in ready, 1 bed, 1 bath condo at Maui Gardens that features A/C, internet, an in-unit washer/dryer, kitchen and breakfast bar, full bath, restful queen-size bedroom, walk-in closet and private lanai with a lush garden courtyard view. Condo amenities include cable TV, pool, spa, BBQ areas, a tennis court and an assigned parking space.
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Wailea Fairway Villas #X202
Wailea
$774,999 (FS)
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This 2 bed, 2 bath unit is situated on the green and fairway of the Blue Golf Course in a very peaceful and well manicured development. The unit has a fairly new split AC system, new stainless steel appliances, and has been freshly painted. It sits on 12 luscious acres with walking trails and amenities that include a saltwater pool, hot-tub, BBQ area, exercise room, and a lounge area by the pool.
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Wailea Palms #2608
Wailea
$895K (FS)
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Wailea Palms 2608, is a beautiful 2 bed, 2 bath condo that has never before been on the market. Enjoy an ocean view from your lanai, living room and the two bedrooms. This is an opportunity to be creative and make this condo your own.
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Napili Point II #C33 (C5)
Napili
$939K (FS)
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Ocean, island and sunset views await you in one of the most highly coveted and spacious 2 bed, 2 bath properties in the oceanfront condominium community known as Napili Point. Napili Point C33 is nestled on southern portion of this highly desirable coastline community. The lanai offers endless sunset views. Located on the second level, this property offers 955 sf of interior living space.
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73 Lei'ohu Cir
Pukalani
$399K (FS)
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A well positioned lot in the exciting Kualono subdivision. This prized gated community is 10 minutes from the airport, retail shopping, and great food. The property is within walking distance of schools, dining, groceries, and the farmers' market.
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