Aloha
In this newsletter:
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Maui’s Ultimate Oceanfront Estate
4572 Makena Road
Makena
$35M (FS)
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Changes in Maui Real Estate Market
It may seem rather counterintuitive, but the real estate market here is going against most of the trends we are seeing on the mainland.
In the last two months, the number of Active listings for both homes and condos has fallen. For condos, the drop has been much greater than homes. On August 2nd, there were 217 Active condo listings and today there are only 154.
The number of homes actively for sale has also dropped but not by as much. On August 2nd there were 251 and today there are only 236.
We can easily explain the drop in condos for sale. With rents for vacation condos soaring to record levels after the COVID-19 restrictions were lifted, Sellers are enjoying the increased revenue and are less anxious to sell.
There was a great deal of pent up demand for travel which Maui benefited from. Hotels and vacation condo occupancies have been running at record levels even with higher pricing.
In regards to long term rentals, the demand exceeds the supply and that has forced up the cost of rentals. Here is a quick look at rentals under $2500/month on Craig’s List. From what it appears, the lowest priced 2 bedroom condo is $2400/month.
The luxury home market which initially benefited from the work from home movement appears to have slowed somewhat. Currently, there are 78 Active listings over $3M and 17 Pending sales. In the last 12 months, there were 108 homes sold over $3M.
Comparing that with homes under $3M, the difference is quite noticeable. There are 158 homes for sale under $3M with 129 Pending sales and 1042 sales in the last 12 months.
Whether you are looking to buy or sell, The Smith Team stands ready to help you.
Have a great week!
Mahalo Nui Loa,
Ken Smith R(S), Melissa Smith R(B), Gregory Smith R(B) and Rachel Smith Kofron R(S)
The Smith Team
P.S. There is big news for future development in the South Maui area. The Honua’ula master-planned community of 1,150 housing units of which 288 units would be for workforce housing is moving forward. The location is south of Maui Meadows.
Market Watch
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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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235 (201)
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145 (81)
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1148 (653)
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-9 |
Condos
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156 (70)
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228 (132)
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1752 (543)
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-8 |
Land
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132 (62)
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31 (9)
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252 (85)
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+5 |
Total
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523 (333)
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404 (222)
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3152 (1281)
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-12 |
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.
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Homes Over $1M
191 Nalani Street
Pukalani
$1.675M (FS) |
This charming 4,390 sqft home was built for a multi generational family. The downstairs unit can be split into (2) separate 2 bedroom 1 bathroom units. The upstairs 4 bedroom unit with high ceilings, plenty of storage space, 2 family rooms a lanai that overlook Central Maui and the West Maui Mountains.
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12 Kaweo Place
Kula
$1.69M (FS) |
This well kept house and detached cottage on a gently sloping half acre in Upcountry Maui. The main home has two bedrooms and two baths on the main single level living area as well as a large view deck and the lower level has one more bedroom with its own fantastic views.
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859 Kai Hele Ku Street
Launiupoko
$2.395M (FS) |
The home has two bedrooms and two full bathrooms, with one full bathroom located in the hallway and accessible to guests. The bathrooms are both newly renovated with granite counters and decorative tiling. Each room of the home, including the bedrooms, features climate control to allow for personalized comfort.
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110 Hale Alii Place
Wailea
$3.4M (FS) |
This private home offers both ocean and golf course views. Tucked away on a corner, cul-de-sac lot of over 15,000 sq. ft, this large, 4 bedroom, 4 bath home offers a masterful floorplan and ability to improve and make it your own. At over 3,400 sq ft. of living space, including over 1,100 sq. ft. of covered lanais, high open beamed ceilings, the possibilities are endless.
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Homes Under $1M
610 Kailana Street
Paukukalo
$725K (FS) |
Enjoy the lifestyle of Maui Hawaii. Centrally located so you are close to work, school, shopping and entertainment. This plantation era home speaks of age, wisdom, a place in history and acceptance. The home is on post and pier. There is extra room in the nohana, storage and work areas, we have off street parking.
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57 Kupee Place
Pukalani
$749K (FS) |
Elvis on vinyl and drive-in movies this home will take you back. Creative buyers will treasure the original 1950’s sliding windows, the vertical grain Douglas Fir flooring hidden beneath the vintage shag, and the plywood kitchen cabinets paired with stainless-edged Formica.
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30 Puakea Place
Kula
$819K (FS) |
Enjoy some ocean & mountain views from the living area & deck of this charming 2 bedroom, 1 bath, 712sf Kula home. The vaulted ceilings and plentiful windows create a spacious & welcoming feeling. Laminate flooring was installed in 2019. New ice box in 2019 & new microwave in 2022.
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1861 Makahala Place
Wailuku
$965K (FS) |
Brand new construction of single level 3 & 4 bedroom homes. Designed with a thoughtful open concept and spacious room sizes, these homes are the opportunity you've been looking for. The 4 bedroom floorplan has an oversized 528sf 2 car garage. Construction is scheduled to be completed in early 2023.
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1875 Lower Kula Road
Kula
$990K (FS) |
Bank Owned. Highly sought after large lot in Kula Kai. Garage has been converted to a studio unit with bath that doesn't appear to be permitted according to the tax records. Buyer to do their due diligence.
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Vacation Condos Over $1M
Maui Kai 904
Kaanapali
$1.02M (FS)
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As you enter, you are greeted by a spectacular Ocean and Island views that makes you feel as if you were on a private cruise ship and offers amazing privacy. The kitchen upgrades include stainless appliances and granite countertops with a generous back splash. The bathroom ceiling was updated as well.
Customer Listing Synopsis
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Kapalua Golf Villas 21T5-6
Kapalua
$1.325M (FS) |
A one bedroom, two bath condominium. Large lanai, walk in owner's closet, with two walk in level entrances. Top row of the Kapalua Golf Villas provides you with easy access to the resort: Championship Golf Courses, a variety of amazing restaurants, white sand beaches, Kapalua Coastal trail, resort shuttle, world class hotels, tennis courts.
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Vacation Condos Under $1M
Hono Kai A-4
Maalaea
$565K (FS) |
The unit is kept cool and inviting by Maui's trade winds. Be warned though, sounds of the waves may just lull you to sleep. A favorite for many guests because of its location and aloha feeling. It has a strong rental history and it's just waiting for the new owner to add their own personal touches and happy memories.
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Maui Vista 2316
Kihei
$750K (FS)
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This beautiful, recently fully renovated (2021), one bedroom, one bath is located in well positioned Maui Vista. Across the street from Charley Young Beach and close proximity to many shops and restaurants, this unit is located on the third floor with elevator access and the lanai overlooks a lush lawn and tropical plants.
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Kaanapali Shores 326
Kaanapali
$770K (FS)
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A garden view unit with an ocean view from the lanai. Comfortable floor plan furnished one bedroom condo with central air, full size kitchen that opens to the living room and lanai. Peaceful location. Lots of Tropical landscaping with pond and waterfall.
Customer Listing Synopsis
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Kahana Reef 216
Kahana
$835K (FS) |
Stand on your Lanai and throw a golf ball into the ocean. During Whale season you will have a front row seat. This second floor corner, one bedroom, condominium gives you privacy, security and quiet. This is a direct ocean front unit on the corner that allows for plenty of sunshine, and views of the neighboring islands.
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Maui Parkshores 204
Kihei
$875K (FS) |
This unit faces south and doesn't get the direct afternoon sun all day long. Relaxing on the lanai and watching Maui's "hustle & bustle" might just become one of your favorite pastimes. Sunsets are a favorite.
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Residential Condos Over $1M
Kai Ani Village 2-103
Kihei
$1.095M (FS)
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Beautiful level one unit in Kai Ani Village offers a great location and spacious living with excellent amenities. Featuring 9 foot ceilings throughout, the bright, open concept living, dining and kitchen area opens to a spacious covered lanai.
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Wailea Fairway Villas C-202
Wailea
$1.278M (FS)
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Feels Clean and White and Bright inside.This 2 bedroom, 2 bathrooms condo, has Gorgeous Ocean Views and Maui Sunsets. Stainless Steel Appliances. The open floor plan allows for easy flow of living from the kitchen, dining and living area. The kitchen is tastefully done with an Expansive Water Fall Quartz Countertops throughout.
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Residential Condos Under $1M
Kihei Villages 1-103
Kihei
$585K (FS)
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Highly sought-after ground floor unit with fenced back yard and two parking spaces. Bonus, Kihei Villages is a pet-friendly complex. Other perks to Kihei Villages are on-site management, extended green space with a kid friendly playground area. Conference room & club house available for resident use.
Customer Listing Synopsis
Video/Virtual Tour
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Hoonanea at Lahaina 220
Lahaina
$875K (FS)
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This rare 3 bedroom, 2 bath corner unit offers privacy and comfort. This floorplan includes a 1 car garage with direct access to the unit and one additional parking stall. There are only a handful of units with such access to the garage. The 2nd floor hosts the kitchen, living area and bedroom/office.
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Cottages at Kulamalu 4
Pukalani
$899K (FS)
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This 4 Bedroom and 3 Full Bath abode offers both an Ocean and Haleakala View along with added privacy with its unique location in the complex. Graced with high ceilings, central air, recessed lighting, faux wood flooring, and stainless steel appliances. Entertainers area with a fully fenced in yard add to the desirability of this exquisite property.
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Vacant Land
340 Aulii Drive
Kula
$1.2M(FS)
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Rare Opportunity to own in one of Upcountry Maui's most beautiful established neighborhoods 2.143 Acre Lot. Possibility to custom build your Dream Home plus an Chana. Currently on inactive with HOA(No fees due). Stunning mountain views of Haleakala, completely fenced, mature silver oak trees, underground electricity.
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