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Issue 373 |
April 27th, 2010
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Market Update
The recent strength in the Canadian dollar has been a catalyst for an increase in real estate sales on Maui. As long as the two currencies remain at or near par with each other, we suspect this trend will not only continue but also grow even stronger.
Canadians have had a keen interest in Maui Real Estate ever since the late 70's when they developed many of the condos in Kihei. The Japanese took over in the late 80's, and then U.S. buyers, mostly from the Western United States fueled the last big boom which started in 1997, and peaked in early 2006.
It makes perfect sense now for bargain hunting Canadians to return as their currency has improved dramatically while at the same time prices have fallen here on Maui by 30 to 50%.
Of course, you don't have to be Canadian to take advantage of the great deals in our market. A combination of historically low interest rates, plus a good supply of Short sales and Bank Owned Properties (REO's), has led to one of the great buying opportunities we have seen in the last decade.
Have a wonderful week!
Mahalo Nui Loa,
The Smith Team
P.S. Hawaii is is courting Google to implement their Gigabit Experimental Fiber Network here in the Islands. If they do select Hawaii as one of their test communities, how awesome would that be. Read more.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
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Market Watch for April 26th, 2010
| Active | Pending | Sold | Change |
Homes | 900 (379) | 235 (30) | 769 (99) | +2
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Condos | 1309 (243) | 281 (17) | 918 (140) | -1
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Land | 557 (157) | 35 (5) | 124 (28) | -12
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Total | 2766 (779) | 551 (52) | 1811 (267) | -11
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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
3512 Hookipa Place
Kihei
$1.85M (FS)
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One of Maui Meadows largest homes with fantastic ocean views. Enter this custom
built pole home to a dramatic main living area with really awesome views. There
is a formal dining area, built-in book shelves, plenty of room for the grand
piano, an impressive stairway down to the family/game room, lots of windows so
it's light and bright, high open beam ceilings and decking around the house to
enjoy the outdoors at all times.
Customer Listing Synopsis
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4426 Pohakuloa Road
Molokai
$2.3M (FS)
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5.56 Oceanfront acres. Previously the 2nd home of Don Coryell of the San Diego
Chargers, this fantastic West Molokai estate offers the ultimate private
getaway. The huge deck and generous living room and master bedroom windows offer
unobstructed ocean, sunset, and Diamond Head views, plus whale watching in
season and the evening lights of Honolulu shimmering on the horizon.
Customer Listing Synopsis
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120 Pulelehua Place
Kapalua
$2.95M (FS)
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This beautiful custom built home is located on the 13th tee box of the world
renowned Kapalua Bay Golf Course. Home has 3 private suites and a huge family
room that opens to spacious deck, pool and spa with Kapalua Rock waterfall. This
home is luxuriously appointed with amenities to meet the expectations of the
discerning buyer.
Customer Listing Synopsis
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Homes Under $1M
1363 Moohele Street
Wailuku
$349.9K (FS) |
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Bank Owned. Waiolani at Waikapu 3 bedroom 2 bath home.
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31 Hale Lio Place
Haiku
$368.4K (FS) |
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Short Sale. Country home with Country Living. Needs fresh & creative ideas. Nice home
with lots of potential. Friendly neighborhood, cul de sac location, huge lot
with room to expand. Close to stores, businesses, Hookipa surfing and more.
Enjoy BBQ on the lanai in private yard with Hot tub.
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1349 Kakae Place
Wailuku
$449.9K (FS)
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Bank Owned. Located at the end of the cul-de-sac, this 2-story house has nice ocean and
Haleakala views. Upstairs is a very large living/dining area, 2 bedrooms and 2
baths. Downstairs is the "family room" and 2 bedrooms, 1 bath. Ceramic tile
floors and laminate flooring throughout. This Fannie Mae property is approved
for HomePath Mortgage and HomePath Renovation financing with as little as 3%
down.
Customer Listing Synopsis
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2626 Mikoi Place
Kihei
$649K (FS)
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Paradise living in South Kihei. Close to Wailea, beaches and shopping. Come
enjoy sunsets, ocean views, a salt water pool, outdoor shower area and much
more. This house is truly a place to call HOME. Split level entry 4 bedroom 3
bath home located on a quiet cul-de-sac.
Customer Listing Synopsis
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98 Oleander Road
Kahana
$799K (FS)
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Short Sale. A total of 4,144 square feet including 5 bedrooms, 4.5 baths plus a study/office
and family room are included in this home which is one of the largest in Kahana
Ridge. Enjoy ocean views from the mega sized first floor great-room as well as
extended views of Molokai from the second floor.
Customer Listing Synopsis
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Vacation Condo Over $1M
Polo Beach Club #801
Wailea
$2.999M (FS)
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Newly remodeled, never to be duplicated. State-of-the art everything, not a
detail overlooked. Elegant, yet peaceful and welcoming. Superior construction,
underground parking, central air, oceanside pool and spa and certainly one of
the best swimming and snorkeling beaches on Maui. Year round sunsets.
Customer Listing Synopsis
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Vacation Condos Under $1M
KIihei Holiday #114
Kihei
$225K (FS)
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Bank Owned. Great first floor unit at the back of the complex. 2 bedroom 1
bath.
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Paki Maui #102 102A Honokowai
$673.9K (FS) |
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Bank Owned. Great value for this large 2 bedroom / 2 bath direct oceanfront unit at Paki
Maui. It is currently used as a one bedroom unit and a studio. There are no
appliances and furnishings in this unit.
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International Colony Club 41
Ka'anapali
$915K (FS) |
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3 bd. 2 bath 2,500+ sq. ft. stand-alone home. Features: marble custom made kitchen and
bathrooms; vaulted ceiling with recessed lighting; living room; formal dining
room; movie theater; golf cart garage; new central air & solar water
heating. 4 min. walk to one of the most beautiful beaches on Maui and 50' from
large, heated pool.
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Residential Condos
Kahana Manor #510
Kahana
$119.9K (FS) |
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Bank Owned. 1 bd. 1 bath priced to sell fast.
Customer Listing Synopsis
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Iao Parkside 28-102
Wailuku
$169.9K (FS) |
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Bank Owned. This 2 bedroom/ 2 bath unit is in great condition. Purchase
this property for as little as 3% down. This property is approved for HomePath mortgage financing and approved for HomePath renovation mortgage financing.
Customer Listing Synopsis
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Kai Malu 21B
Wailea
$839K (FS)
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Short Sale. Luxurious 1,796 sq. ft. 3 bd. 2.5 bath Kai Malu at Wailea condominium.
This gorgeous Lewa floor plan includes granite countertops, cherry wood
cabinetry, stainless steel appliances, central air conditioning, an extended
tiled lanai, and much more.
Customer Listing Synopsis
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Vacant Land
798 Kukia Place
Kula
$199.9K (FS) |
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Bank Owned. Nice lot in newer subdivision, located on a cul-de-sac, has county water.
Customer Listing Synopsis
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