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| Issue 1137 |
January 14th, 2025 |
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Aloha
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In this newsletter:
Land
New Properties
Price Reductions
Short Sales
Homes (1)
Condos
Land
New Properties
Price Reductions
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Prestigious Penthouse Villa
Wailea Beach Villas J-505
Wailea
$7.95M (FS)
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More Home Sellers, Fewer Sales
There were 45,000 new listings for single family homes across the country this week, which is a big jump. It’s 12% more sellers than a year ago. This is the trend I’ve been talking about as a big theme for 2025. It seems like more sellers are coming out every week.
Mortgage rates pushed close to 7.25% this week. It’s only two weeks into January and mortgage rates have hit the high end of the range we forecasted for the entire year. Unlike a lot of forecasters in the mortgage world a few months ago, our projection included the notion that with strong jobs data and some inflation fears, the bond market could indeed push mortgage rates over 7%. That’s exactly what happened. And it happened quickly.
I remain optimistic that later in the year the economic news relaxes a bit and rates fall closer to 6% or even under 6%. Those scenarios are possible, and it’s going to be fascinating to see how the bond markets react to new administration policies. Right now, the sentiment is very bearish. Bond markets have driven mortgage rates back to the highs, and home sales are suffering. Sellers are up, but sales are down.
Data provided by Altos Research.
"For additional information, you can watch the full video here."
Mahalo Nui Loa,
Ken Smith R(S), Melissa Smith R(B), and Gregory P Smith R(B)
The Smith Team
P.S. Inaugural Recreation Expo for West Maui youth, Jan. 18, 2025.
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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386 (344)
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107 (76)
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754 (562)
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+4 |
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Condos
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774 (327)
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71 (23)
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851 (375)
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+7 |
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Land
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179 (78)
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29 (12)
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185 (78)
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+1 |
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Total
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1339 (749)
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207 (111)
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1790 (1015)
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+12 |
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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 the number of active listings from the previous week.
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Homes Over $1M
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120 Ehu Iki Place
Makawao
$1.3M (FS)
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This 2 bedroom 2 bath home is perched on 2 plus private acres with ocean views. But there’s so much more waiting to be discovered! Imagine the possibilities with the 1,350 sq. ft. detached workshop a space built for your biggest dreams. High ceilings, a solid concrete floor, and endless versatility make it perfect for anything from creative ventures to big projects.
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1606 South Kihei Road
Kihei
$1.475M (FS)
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The main house is divided into three (3) apartments. The downstairs apartment UNIT A has 830 interior square feet with two bedrooms and one bath and a 168 square foot lanai and rents for $2550 per month plus $260 maintenance fee (MF) to offset property expenses. Lease expires July 31, 2025. UNIT B is a downstairs one bedroom one bath apartment with 654 square feet with a 420 sf lanai and rents for $2,350 SF plus $260 maintenance fee to offset property expenses.
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432 Kupulau Drive
Kihei
$1.499M (FS)
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This exceptional property features a beautifully appointed main house and a charming cottage, perfectly situated on a half acre lot that offers both privacy and breathtaking views of Maui's stunning coastline. The expansive property lines offers potential for landscaping or future enhancements, allowing you to create your own private oasis. The main house is a thoughtfully designed retreat that seamlessly blends indoor and outdoor living.
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2130 Piiholo Road
Makawao
$1.897M (FS)
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Beautifully contemporary remodeled large home with room for everyone. Upstairs is the main suite, roomy and spacious with a stargazing, Olinda ocean view lanai deck that connects to the expansive comfy living area. Ultra functional kitchen and inviting dining for gathering in the way we live in 2025.
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1053 Oka Kope Street
Kaanapali
$7.2M (FS)
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A brand-new estate (main home has never been lived in) that redefines luxury living on Maui. Situated within the award-winning Maui Grown Coffee Plantation, this exclusive property offers breathtaking beauty, meticulous craftsmanship, and an unparalleled lifestyle. Spanning 8 acres on the premier lot in Kaanapali Coffee Farms, this home is a sanctuary of privacy, tranquility, and timeless elegance.
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223 C Momi Place
Wailuku
$794K (FS)
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Completely remodeled from top to bottom. This beautifully renovated 3 bedroom, 2 bath home in Wailuku offers a bright and airy living space. With a new roof, flooring, kitchen, and bathrooms, everything is fresh and modern. The low-maintenance yard features new gravel, perfect for easy upkeep.
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6 Kuhina Place
Makawao
$925K (FS)
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This home has a standing metal seam metal roof and an oversized carport. Sited perfectly on this 13,252 square foot corner fenced lot. Excellent floor plan with 2 spacious bedrooms w/ en-suite baths. The main bedroom features a walk-in closet and extends onto the cozy porch overlooking the backyard.
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290 Hokulani Street
Pukalani
$958K (FS)
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Welcome to this single level 3 bedroom, 2 bathroom home with potential galore. Main living has a flowing floor plan with open kitchen, plenty of cabinetry, dining area, living room, 3 bedrooms and one full bath. The large family room with adjoining bath and laundry facilities has access to the split-level backyard to relax and play. Use as home office or convert to in-law suite.
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Grand Champions 140
Wailea
$1.349M (FS)
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This lovely remodeled and cared for 2 bedroom 2 bathroom Grand Champions unit speaks of Hawaiiana and is being sold 'Turn Key' Furnished. Unit is upper-level with vaulted ceilings and lives large. The sheer scale and volume of space adds a sense of elegance and comfort to the living experience. Vernal and serene truly describe the setting. There are peaceful, green and pastoral views from the unit with a small southwest ocean view from the glass railing surrounded lanai area.
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Wailea Elua 708
Wailea
$3.899M (FS)
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Stunning 2 bedroom, 2 bathroom top-floor condo with breathtaking ocean views. Located in the highly sought-after Wailea Resort, this fully furnished vacation rental unit features high vaulted ceilings, recessed lighting, and two separate lanais to enjoy Maui's incredible sunsets. The modern upgrades include granite countertops, stainless steel appliances, and a sleek glass cooktop range oven.
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Vacation Condos Under $1M
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Kalama Terrace L-204
Kihei
$475K (FS)
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This charming 1 bedroom, 1 bath unit. This condo features a newer gas stove and refrigerator, along with granite counters in the kitchen and updated wood cabinets, tiled shower walls, and tiled floors throughout. Enjoy the view of the peaceful grounds from your covered lanai area. Unit comes fully furnished. Enjoy the convenience of being located close to the pool and BBQ area in a fantastic location in this complex.
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Royal Kahana 115
Kahana
$699K (FS)
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Lovely 1 bedroom, 1 bath home conveniently located on the first floor of the Royal Kahana Resort with a view of the ocean and pool from the lanai. This oceanfront resort is one of Maui's best-kept secrets. The home is currently used for a short-term rental and gets superior reviews on Airbnb and VRBO. It has a successful rental history dating back to 2017 with increased rental income year over year through 2023.
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Napili Shores E-144
Napili
$799K (FS)
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This resort is perfect to enjoy snorkeling, swimming, even moonlit walks on the beach and more restaurant options. Whether you're looking for a full-time residence, a vacation retreat, or a short-term rental property that is professionally managed for passive income, this ground-floor unit is a gateway to Maui's finest island living. With its prime location, Napili Shores is ocean-front boasting gorgeous nightly sunsets or amazing whale watching from the shaded lounge chairs.
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Residential Condos Over $1M
Wailea Fairway Villas U-202
Wailea
$1.149M (FS)
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Come fall in love with this beautifully remodeled Wailea Fairway Villas second floor unit. Attention to detail is evident throughout from the abundance of recessed LED lighting to the built-in closet organizers in each bedroom, the 3 split A/C system, built-in storage cabinets, and even a Pulse Showerspa shower system. Freshly painted with a warm and inviting color palette which creates a comfortable and relaxed feel.
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Makalii at Wailea 11-B
Wailea
$2.85M (FS)
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This exquisite 2 bedroom, 2 bathroom condominium, designed and built by the award-winning Armstrong Development, blends mid-century modern architecture with Hawaiiana elegance. Positioned on the top row, this home offers unparalleled panoramic views of the Pacific Ocean. Haleakala, and the Wailea Blue Golf Course can be seen throughout the property.
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Residential Condos Under $1M
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Harbor Lights C-315
Kahului
$199K (FS)
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This 2 bedroom, 1.5 bathroom third-floor corner unit has beautiful views of swaying palm trees and the West Maui Mountains from the double pain windows in the living room and second bedroom. Located on the back side of C building this unit is far from the busy road noise and comes with the added convenience of one reserved parking space.
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Iao Gardens 212
Wailuku
$429K (FS)
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This is a rare find. Welcome to your next home or investment opportunity in the heart of Wailuku Town. Close to medical facilities, restaurants, state offices, and beautiful Iao Valley State Park. Owner has completed several updates, including new paint, doors, room divider, air conditioning unit and beautifully refinished wood flooring. Dishwasher and Washer/dryer upgraded in 2022.
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Kihei Shores I-001
Kihei
$660K (FS)
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This rare 3 bedroom, ground-floor end unit in the sought-after "I" building offers both comfort and convenience. Its ground-floor position helps maintain cooler interior temperatures, contributing to energy efficiency. The living room opens to a private, covered patio with direct walkout access to the maintained grounds.
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 80 Kehalea Place Lot AOlowalu
$699K (FS)
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Set against the backdrop of the majestic West Maui Mountains and looking out to the endless expanse of the blue Pacific, this 2-acre "Main House" lot offers a dreamy setting for your Maui dream home. The land is ideally located across the street from Ukumehame Beach Park, making it a prime location, centrally positioned between the Kihei, Maalaea Harbor, and Kaanapali.
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700 Kupulau Drive
Kihei
$1.05M (FS)
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This location allows you to have a driveway on Kupulau Drive and a separate driveway on Keha Drive so your main house and the ohana unit can have their own access and parking. The result is added privacy for each home. The short video provided here opens with aerial shots from a couple hundred feet above the lot.
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The Smith Team
www.MauiSales.com
(808) 572-0866
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