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Aloha
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In this newsletter:
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A Secluded Oasis
Oceanfront in Haiku
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Market Update
With all the uncertainty surrounding us in the current economic climate, it may be difficult to visualize yourself purchasing a new home or investment property. That being said, the historically low interest rates tell us that now may actually be the perfect time to purchase a new home or condo.
At this same time in 2019, the median price for a single family home hovered right around $750,000 while the median price for a condo was $518,000. For a 30 year fixed loan the average interest rate would have been 4.25%.
As of right now, the median price for a single family home is $777,595 and the median price for a condo is $502,530. Current rates in Maui, Hawaii are 3.16% with a 3.479% APR for a 30 year fixed loan, 2.58% with a 3.062% APR for 15 year fixed loan and 2.83% with a 2.845% APR for a 5/1 ARM.
It’s unclear at this point how long interest rates will remain this low, or what type of long term impact the COVID-19 pandemic will have on interest rates, inventory and the local economy. If you have questions on financing, or have some insights of your own to share about the current market just hit reply on this email. We would love to hear from you!
Mahalo Nui Loa,
Ken Smith R(S), Melissa Smith R(B), and Gregory P Smith R(B)
The Smith Team
P.S. The next time you are at the Kahului Airport, be prepared to have your temperature taken via thermal scanner. The new scanners were installed as part of a defense protocol designed to stop travelers at the airport if their temperature is above 100.4. The scanners use a combo of cameras, facial recognition software, and thermal imaging technology to quickly detect anything unusual.
You can read the full article on Maui’s COVID-19 defense plan as well as an outline of future phases here.
P.S. As of today we have just gotten word that Governor Ige has decided to delay the pre-travel testing program yet again for trans-pacific travelers to Oct. 1st at the earliest. You can watch the full press release for details here.
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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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359 (220)
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210 (53)
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1034 (285)
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-13 |
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Condos
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694 (168)
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187 (35)
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1357 (237)
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+29 |
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Land
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256 (70)
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70 (24)
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150 (15)
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-6 |
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Total
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1309 (458)
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467 (112)
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2541 (537)
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+10 |
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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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712 Upper Kimo Dr
Kula
$1,295,000 (FS)
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Bi-coastal ocean views on 2.28 acres of land with two 5/8" water meters. This 3 bed, 2 bath home sits atop a plateau overlooking a majestic view of North Shore Maui, West Maui Mountains, Lanai, Kahoolawe, and Molokini. Enjoy this view while sitting outside by the firepit, and on the colder Kula nights indoors with a cozy fireplace sitting area.
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3105 N Noho Loihi Way
Wailea
$1,695,000 (FS)
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Enjoy panoramic ocean views of Molokini, Kaho'olawe, Lana'i and the West Maui Mountains from the second level of this move-in ready 4 bed, 3.5 bath home in the coveted gated community of Wailea Pualani Estates. The home offers 2 spacious master suites, one on each level with two additional bedrooms and a full bath on the upper level.
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69 W Kapu Pl
Kihei
$5.9M (FS)
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Direct oceanfront living on the world-class south shore of Maui. This rare oceanfront property consists of 1 structure with 2 separate and/or joined, 2-story luxury townhouse style units, each with a kitchen and 3 beds and 3 baths. Magnificent rental opportunity makes this property an investor’s dream!
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Homes Under $1M
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105 S Papa Ave
Kahului
$489K (FS)
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This 3 bed, 1 bath central Maui home is located across the street from Roselani place. Enjoy the mountain views from the cute outdoor seating area in the front yard. You are minutes away from the major shopping mall, hospital, the Maui Arts and Cultural Center, the Dunes at Maui Lani Golf Course, and the airport to name a few.
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182 Ikea Pl
Pukalani
$615K (FS)
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The lowest price for a 3 bed, 1 bath home in Pukalani with an added perk: it is fully remodeled! Complete remodel includes: electrical, plumbing, windows, walls, roof, cabinetry and flooring throughout. High end finishes include granite counter tops, stainless steel appliances, bamboo flooring, and a custom tile walk-in shower.
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301 Pulihi St
Kahului
$640K (FS)
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Enjoy enhanced privacy with this prime corner lot location in the new Traditions at Maui Lani. Split AC in the great room and also in the master bedroom. The home is "pre-plumbed" for an additional 2 AC units. This 3 bed, 2.5 bath home is just steps away from Pomaikai Elementary School. Traditions features a small water park for keiki to play and cool off.
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71 Poniu Cir
Wailuku
$675K (FS)
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This home is in a super private cul-de-sac location in Kaimana at Kehalani and is on one of the biggest lots in the subdivision. This 3 bed, 2.5 bath home has a huge backyard, fully fenced in with a fun jacuzzi. Interior features include: a 5 zone split system A/C, a stunning remodeled bathroom, master bedroom with a walk-in closet, pantry in the kitchen sprinkler system and a 2-car garage.
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Vacation Condos Over $1M
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Grand Champions #133
Wailea
$1.15M (FS)
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Private, quiet, and the most affordable 3 bed, 2 bath condo in the heart of Wailea. Grand Champion Villas is a gated condominium with security, lush landscaping, ornamental waterfall, 2 pools, 2 hot tubs and a picnic area with gas barbecues. Unit 133 is a private, ground-floor unit, secluded in palm trees and lush tropical foliage at the end of the road.
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Maalaea Surf #B-1
Kihei
$1.5M (FS)
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Beautifully remodeled and spacious, tall vaulted ceilings, and tastefully furnished, this 2 bed, 2 bath ground floor condo with ocean views is the one you've been dreaming about! Unit B-1 features the rarest and most desirable 2 bed floor plan in the complex. There are absolutely no stairs and there is no unit directly above you.
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Hoolei #K5
Wailea
$3.35M (FS)
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Epic properties like Ho'olei Villa 39-5 seldom become available. This turnkey 3 bed, 3.5 bath villa is situated in the heart of the last resort-zoned development in Wailea. You can enjoy Maui’s marvelous climate and gorgeous sunsets year round! The Maile floor plan of 39-5 seamlessly blends indoor/outdoor living that flows throughout the entire villa.
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Wailea Elua I A #1308
Wailea
$3,995,000(FS)
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Introducing one of the most unique legacy properties in Hawaii: Wailea Elua 1308. Offering a front row location, this immaculately maintained 2 bed, 2 bath unit features unobstructed ocean view corridors, privacy, convenient access to the Wailea Beach Path, and one of the world’s best beaches as the front yard. Extensively remodeled, the living area and both bedrooms open to the wraparound lanai.
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Vacation Condos Under $1M
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Kihei Garden Estates #C108
Kihei
$399K (FS)
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A gorgeous 1 bed, 1 bath ground floor unit at Kihei Garden Estates in South Kihei. Updates include a nicely remodeled kitchen with maple cabinets and granite counter tops, tile flooring throughout, a glass block shower in the bathroom, and A/C in the living room. Enjoy the partial beach and ocean view from your lanai.
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Napili Shores #D128
Napili
$399,999 (FS)
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Located oceanfront with direct access to Napili Bay, Napili Shores Maui by Outrigger is a highly sought after vacation rental complex. Unit D128 is a ground floor studio unit with easy access to the beautifully landscaped grounds. This unit has undergone some recent updates including granite countertops and a split system A/C. The unit has been used as a vacation rental with a strong history of occupancy.
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Kihei Alii Kai #D207
Kihei
$425K (FS)
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This cozy 1 bed, 1 bath condo is the perfect getaway location. The living area is an open concept where guests can hang out and enjoy one another. The living area opens up to the lanai where it's quiet and relaxing while taking in the ocean views. This condo comes furnished, including the appliances, washer and dryer.
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Kamaole Sands #8-101
Kihei
$499K (FS)
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A gorgeous newly renovated 1 bed, 2 bath ground floor unit at Kamaole Sands located in South Kihei. This unit has an open kitchen and living room concept with laminate flooring throughout, updated kitchen with maple cabinets, tiled shower in the bathroom, washer/dryer in unit, and air conditioning. It comes turn key and fully furnished with a fully equipped kitchen, queen sofa sleeper in the living room, and a king sized bed in the bedroom.
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Residential Condos Over $1M
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Kanani Wailea #8
Wailea
$1,198,000 (FS)
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The rare find you’ve been searching for: Kanani Wailea 8 is a detached, 4 bed, 2.5 bath, ocean-view home in a gated, low-density condominium community, offering the ideal balance of privacy and carefree island living. This spacious, airy, remodeled home looks brand new and features a two-car garage, 2,287 sf. of living space, central air conditioning, custom-built closets, custom lighting, top-of-the-line appliances, and built-in vacuum, sound, and security systems.
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Kai Malu #29B
Wailea
$1,695,000 (FS)
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A beautiful front row, 3 bed, 2 bath unit with year round sunsets. Private and peaceful with ocean views. Travertine, marble, cherry wood floors and high grade carpet throughout. Other features include, automatic living room shades, spa hot tub, GE Monogram gas grill and refrigerator on the lanai, GE Monogram refrigerator/freezer in kitchen and a two car garage with built in storage.
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Residential Condos Under $1M
Harbor Lights #A307
Kahului
$139K (FS)
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A 2 bed, 1.5 bath condo in the Harbor Lights complex. Harbor Lights maintenance fee includes water, sewer, trash, building, pool and grounds maintenance. Enjoy close proximity to the Kaahumanu Shopping Center, University of Hawaii Maui College and Maui Arts and Cultural Center.
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Keonekai Villages #23-104
Kihei
$439K (FS)
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23-104 is a 2 bed, 1.5 bath unit in one of the best locations in this sought after South Maui complex. Quiet, far from traffic noise and at night you can even hear the ocean waves as you go to sleep. Most of the surrounding condos are homeowner occupied. Mailbox is right out front, and the covered and extended uncovered lanai makes for additional outdoor living space plus a grassy area to ground your feet or your pets paws.
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650 S Alu Rd
Wailuku
$375K (FS)
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This is an exceptionally well priced vacant lot for sale in Wailuku Heights with beautiful ocean and mountain views. Great opportunity to design your perfect, custom dream home. The seller is providing architectural plans for a gorgeous single level home with a garage as part of the sale.
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