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Aloha
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In this newsletter:
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Black Sand Beach Makena
5490 Makena Road
Makena
$14.9M (FS)
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Limit on Conventional Mortgages Will Go Up in 2024
In 2024, qualified Hawaiʻi homebuyers will be able to borrow more money than this year – more than even the current median price of a single-family home on Oʻahu.
The Federal Housing Finance Agency each year sets the maximum amount homebuyers can borrow on conforming mortgages. For most of the U.S., that maximum will be $766,500 in 2024, an increase of $40,350 from 2023.
Hawaiʻi, Alaska, Guam and the U.S. Virgin Islands, along with some pricey coastal metro areas and ski resorts, qualify for the higher loan limit, which is 150% higher than the limit for the rest of the U.S.
But with higher loan amounts come huge payments. At the current average rate of 7.22% for a 30-year mortgage, the monthly payment for a 2024 maximum-size loan would be $7,820.
Depressed Market for Mortgages
The statistics for mortgage loans in Hawai‘i this year reflects that scarcity. The number of mortgages issued by local and mainland banks was down 57.5% during the first three quarters of this year, compared to the same period last year, according to Title Guaranty Hawaii’s Mortgage Barometer. The dollar volume dropped 73.6%.
By: Janis Magin Meierdiercks
Mahalo Nui Loa,
Ken Smith R(S), Melissa Smith R(B), Gregory Smith R(B)
The Smith Team
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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229 (194)
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118 (77)
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736 (464)
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+3 |
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Condos
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315 (177)
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160 (88)
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946 (324)
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+25 |
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Land
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134 (60)
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33 (10)
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186 (55)
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-2 |
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Total
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678 (431)
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311 (175)
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1868 (843)
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+26 |
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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
215 Hololani Street
Pukalani
$1.369M (FS) |
Spacious single family home with high beam ceilings located on the 12th fairway of the Pukalani Golf Course. The upstairs has an open feel with a kitchen, living and dining area plus 2 bedrooms and 2 full baths with a spacious deck to watch the sunsets and an amazing view of Haleakala. Downstairs is a 1 bedroom 1 bath, a family room, small kitchen nook.
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34 Kolopua Place
Wailuku
$1.155M (FS) |
Well cared for 4 bedroom home with 2.5 baths and attached 2 car garage in Kehalani, Wailuku is ready for a new owner. The home is spacious and feels larger than 1,679sqft with the vaulted ceiling in the living and dining area and the main bedroom, bath on the lower level. The other 3 bedrooms are upstairs, one bedroom has ocean view! The back yard is fenced.
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8 Bougainvillea Place
Kahana
$1.69M (FS) |
This stylish 3 bedroom, 2 bathroom residence nestled in the quiet Kahana Ridge Community is the perfect place to call "home". Thoughtfully designed with a reverse floor plan, the primary bedroom, great room and kitchen are positioned on the 2nd level while the 1st level provides additional privacy and space for the two bedrooms and bonus area below.
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280 Auli'i Drive
Kula
$2.9M (FS) |
This custom-built residence situated on a serene, expansive 2 acre lot was thoughtfully designed by architect Hans Riecke, boasting soaring open beam ceilings, and gleaming hardwood floors. Relish the pleasingly temperate upcountry climate and charm. Live the lifestyle! Enjoy time luxuriating in your sparkling pool, and live the equestrian lifestyle right in your own backyard.
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Homes Under $1M
592 Onehee Street
Kahului
$744.1K (FS) |
Bank Owned. This property is close to the Mall, Grocery stores and doctors offices, spacious home with a flexible floor plan and beautiful Haleakala views. Easy To Show.
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850 Kekoa Place
Wailuku
$799K (FS) |
Potential Short Sale. Large 3 bedroom 2 bath home in Waiehu Heights. Wonderful views of West Maui Mountains, Haleakala and the ocean. Step out to the yard, which has beautiful views and space for enjoying the fresh air and sunshine. This home is ready for a new owner and refresh. The layout features a large kitchen with open concept and lots of natural lighting.
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611 Kuu Home Place
Kihei
$989.9K (FS) |
This clean and well maintained 3 bedroom 2 bath home in a private cul da sac in N. Kihei is a must see! The home features an open floor plan with an expansive level backyard with room to expand. New 18 panel solar system installed a year ago along with a new roof and water heater. This home is move in ready.
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Vacation Condos Over $1M
Kahana Villa E-609
Kahana
$1.05M (FS)
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Enjoy spectacular ocean views from this beautifully remodeled 6th floor, 2 bedroom, 2 bath condo. Kahana Villa is a popular vacation rental complex across the street from a sandy beach and steps to Pohaku Beach Park and S-Turns surf break. The floor-to-ceiling windows give the second level primary bedroom sweeping ocean views.
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Luana Kai B-307
Kihei
$1.25M (FS)
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Take in some of the most beautiful Maui sunsets or watch the whales as they swim by in the channel with views of Lanai. This condominium offers floor to ceiling sliding glass doors that open onto a large lanai. This fully furnished unit would make a very special Hawaiian vacation retreat or Get-Away, a second home or rental investment property.
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Maui Vista 3402
Kihei
$1.199M (FS)
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Unit is an upgraded ocean and outer island view 2 bedroom 2 bath unit. It affords views of Molokini Crater & the Island of Kaho'olawe. There are ceramic tile floors from the front entry & throughout the entire space, including extending onto the exterior ocean view lanai. The updated kitchen enjoys ocean views & features Corian counters plus a contemporary glass tile backsplash & all stainless steel appliances.
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Menehune Shores 319
Kihei
$1.285M (FS)
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This is a spacious 879 square foot 2 bedroom, 2 bath unit is also approved for short term rental. Watch the whales from your ocean front lanai during whale season. The rooftop pavilion has 360-degree views of the outer Hawaiian Islands and also perfect for whale watching. Sandy beaches just steps from your door, comes with an ocean front pool.
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Kaanapali Shores 502
Kaanapali
$3M (FS)
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This Serene and Panoramic residence is a stellar ocean view home away from home and strong historical rental performer. This is the Ultimate direct beachfront rental residence at over 1,500 sq.ft. of interior living area with a wrap-around deck that provides an additional 498 sq.ft. of effective outdoor living area with plenty of chairs and chaises to enjoy the stunning views.
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Wailea Point 2003
Wailea
$4.395M (FS)
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This exquisite ground floor ocean view residence offers an unparalleled living experience in an exclusive gated community. Boasting breathtaking waterfront views, this 2 bedroom 3 bath home invites you to savor the tranquility and beauty of coastal living. The modern elegance of the large interior spaces creating areas of retreat for relaxation.
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Makena Surf C-106
Makena
$4.785M (FS)
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Enjoy breathtaking unobstructed ocean, outer island, and sunset views from this extra-large, elegantly renovated, 2 bedroom, 2 bath Makena Surf condo. This 1,600 square foot unit feels even larger thanks to the extra-high ceilings (10'6"), and the central air-conditioning and the C-building's concrete construction provides its occupants with a comfortable, quiet place to unwind.
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Vacation Condos Under $1M
Kauhale Makai 125
Kihei
$749K (FS) |
It's a wonderful family friendly complex with a swimming pool, hot tub, sauna, BBQ area, putting green, and shuffleboards. Unit 125 is located in the south building. Waipuilani Park sits between the complex and the Pacific Ocean and offers lots of green space for play and the beach has fabulous sunsets!
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Kihei Kai Nani 8-363
Kihei
$777K (FS) |
With a very short distance away from the resort pool or to the ocean, this 3rd floor 1 bedroom, 1 bath condo is set remotely away from the road offering the setting of a perfect Maui retreat or island residence. Find the bedazzle within this top-floor, end-unit boasting three sides of windows looking to nature that allow the extra breezes throughout the interior space.
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Papakea Resort C-107
Honokowai
$790K (FS) |
Papakea is the perfect, ground floor studio property. Offering 454 sq.ft. of living area, this property is centrally located within the community and offers ocean, resort and garden views. Sold furnished. The oceanfront condominium community known as Papakea Resort consists of 364 apartments spread across eleven 4 story buildings. Completed in 1977, this community is located on 12.283 acres.
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Kulakane 106
Honokowai
$799K (FS) |
Find your slice of paradise and relax to the gentle sounds of the surf from this direct oceanfront retreat. Kulakane is a 42-unit building featuring spectacular frontline ocean and sunset views. Watch whales this winter while taking the first sip of your morning coffee. Sea turtles and rainbows abound.
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Mahina Surf 202
Honokowai
$850K (FS) |
Absolutely stunning direct oceanfront views on Kahana’s natural rocky shoreline. Enjoy whale watching, turtles, and a year round front row seat for the best sunsets on Maui from this ideal location at Mahina Surf. This low-density, low-rise condo complex is one of the best kept secrets on Maui’s west side, perfectly positioned to enjoy cool tradewind breezes and easy access to the S-Turns surf break.
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Residential Condos Over $1M
Wailea Fairway Villas E-103
Wailea
$2.625M (FS)
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Absolutely stunning 3 bedroom, 3 bath home in the E building, one of the best locations in Wailea Fairway Villas! At 1788 sq. ft., this is one of the largest units in the community, overlooking the Wailea Golf Course with expansive and unobstructed ocean and sunset views. Fully remodeled in 2022.
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Residential Condos Under $1M
Haleakala Gardens 13-F
Kihei
$575K (FS)
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Perfect location in the back of the complex, very quiet, no road noise. Very well kept 2 bedroom, 2 bathroom condo in Haleakala Gardens a pet friendly community. Five minute walk to a beautiful beach to watch sunsets. This is priced to sell, a gem waiting for you to add your personal touches. Being sold mostly furnished.
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 Kalama Townhouses 3
Kihei
$724.9K (FS)
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This cute townhome is for you. The fenced patio area is a private and a perfect area to relax, read, have your meals or a snack. Your very convenient parking space is located across from the front door. Features include split AC system, freshly painted walls, upgraded windows and a newly remodeled bathroom with walk-in shower welcome you in this townhome.
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Flats at Kamalani 704
Kihei
$765K (FS)
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Welcome to this charming ground floor condominium boasting a prime corner location, providing both privacy and a sense of openness. Enjoy the convenience of ample guest parking, making it easy for family and friends to visit you in this welcoming and pet-friendly community. Rest easy knowing that you have two assigned parking stalls.
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Kai Makani 38-102
Kihei
$975K (FS)
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Quiet and spacious, pet friendly complex across the street from the beach in South Maui. The grounds are beautiful and well taken care of, large pool with jacuzzi, bbq area and a gym are a bonus! The two bedrooms and two baths are a good size. Small ocean view from the large lanai off the living room and bedroom. The unit comes with two parking spots.
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Vacant Land
 814 Honoapiilani Highway Lot 27Olowalu
$699K (FS)
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Agricultural acreage in Olowalu! This CPR'd unit is designated for the 1,000sf cottage and has impressive views of the West Maui Mountains, Lana'i and the Pacific Ocean. 4.8 acre CPR unit is bordered to the south by the Olowalu Stream. The iconic Olowalu General Store and Leoda's pie shop are nearby as well as incredible outdoor resources.
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