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Aloha {FIRST_NAME
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In this newsletter:
Short Sales
Homes
Condos (0)
Land (0)
New Properties
Price Reductions (0)
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Beautiful & Spacious
Pineapple Hill Home
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Market Update
Undoubtedly, the question that we get asked the most is, “How is the Real Estate Market on Maui.”
The standard response we give is that it really depends. Are you trying to sell a home under $1M or perhaps a luxury home for over $5M. The answer really depends on what you are trying to buy or sell?
If you are a Buyer looking to take advantage of the low interest rates, and get your first home for under $700K, you are going to be facing a lot of competition in this category. The opposite is true if you are looking for a luxury home over $2M.
Here is the breakdown by price range for homes on Maui that are Active, Pending, or Sold within the last year.
| Price |
Active |
DOM |
Pending |
DOM |
Sold |
DOM |
% of List |
| < $700K |
64 |
104 |
92 |
134 |
244 |
128 |
97.14 |
| <$1M |
92 |
115 |
92 |
135 |
216 |
114 |
98.4 |
| <$2M |
107 |
140 |
36 |
166 |
201 |
137 |
95 |
| <$5M |
107 |
193 |
12 |
222 |
66 |
196 |
93.8 |
| <$5M |
55 |
235 |
4 |
302 |
15 |
426 |
87.2 |
Here are some explanations about the table above. First off, the breakdown is only for homes. No condos were included in this table. The price brackets are under $700K, between $700K and $1M, etc. DOM stands for Average Days on Market. We calculate DOM from the time it was listed until it is sold, so it does include the time in Escrow. When you see others stating in hot markets that the average days on market is for example only 15 days, they are referring to the time it took to go under contract.
What conclusions can we draw from this Table? It appears obvious that the market is strongly favoring sellers for homes under $1M. The combination of low interest rates and costly rentals is spurring many buyers to buy even though the prices have moved higher in the last several years.
As we get up in to the higher price ranges, it becomes more of a Buyer’s market. It takes longer to sell a home over $2M and there is room to negotiate on the price as indicated by the lower percentage to list price that homes have sold for.
How do we see this going forward? Well, of course, it will depend a great deal on the state of the economy and tourism. While we don’t have a crystal ball, we expect prices will or may have already started to plateau particularly for the more expensive properties on Maui. This seems to be borne out by the data, but anything can change so we will keep you posted.
Mahalo Nui Loa,
The Smith Team
P.S. In West Maui, the low streamflow and high temperatures have caused a shortage of water for both the Mahinahina and Lahaina water treatment facilities. The Maui Department of Water Supply has asked all residents in the local area to reduce their water usage until further notice.
Melissa Smith R (B), Ken Smith R (S), Gregory Smith R (B)
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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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423 (269)
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236 (52)
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1069 (285)
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-4 |
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Condos
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454 (167)
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219 (54)
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1591 (232)
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-5 |
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Land
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307 (96)
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52 (15)
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174 (27)
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+2 |
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Total
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1184 (532)
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507 (121)
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2834 (544)
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-7 |
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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
80 Kalai Pl
Olowalu
$1,405,000 (FS)
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With the spacious screened-in porch, this 2 bed, 2 bath house lives larger than the square footage on record. The open kitchen has newer appliances and is freshly painted. Updated tile work in both ensuite bathrooms. White wainscoting throughout, paddle fans, and bay windows are sweet style elements that reflect the rich plantation history of the area, along with the carefully terraced rock walls and long driveway lined by Royal Palms.
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3145 Waiea Pl
Wailea
$1,490,000 (FS)
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This gorgeous home is ideally located in the popular Wailea Kai for easy Keawakapu Beach access. Sought after cul-de-sac location. This spacious and private 4 bed, 3 bath residence beautifully incorporates the flow of the home into one of the largest yards in the neighborhood.
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200 E Panana Pl
Wailea
$1,650,000 (FS) |
A truly elegantly designed home with high cathedral wood ceilings in the living room. Sliding doors that disappear in to the walls leading out to a fabulous tropical oasis with waterfall cascading in to the very private pool surrounded by lush palm trees. This 3 bed, 3.5 bath home comes fully furnished. Central A/C to keep you cool on the warmest days, and it is only a short walk to Keawakapu Beach, Ulua Beach, and the Shops at Wailea.
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77 Ohaoha Pl
Makawao
$1,943,210 (FS) |
Be greeted with amazing bi-coastal ocean views from nearly every room in this gorgeous single-story, 3 bed, 2.5 bath open concept home, in the gated Maunaolu Plantation community. A grand porte co-chere welcomes you to a beautiful front foyer, in turn opening to the central area inclusive of an expansive living room.
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Homes Under $1M
621 Kaiola St
Kihei
$836K (FS)
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A beautiful 3 bed, 2 bath home with a stucco exterior, and completely fenced in and private yard. Features an open floor plan with central A/C, skylights, new tile, additional garden room with french doors and big vaulted ceilings. You will love relaxing in the tropical garden with Italian fountain and slate stone walkways.
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92 Keoneloa St
Wailuku
$849,900 (FS)
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Situated in the highly coveted gated community of Sandhill Estates. This 3 bed, 3 bath home has been refreshed with new interior paint, granite counters, new light fixtures, laminate flooring and much more.
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223 Keonekai Rd
Kihei
$999K (FS)
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This contemporary 6 bed, 4 bath stucco home has just been given a beautiful face lift with new paint inside and out, new flooring, updated lighting inside and out, sleek new ceiling fans throughout, a new entrance door and a rebuilt deck that overlooks the lush sanctuary filled with native foliage for ultimate privacy.
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Vacation Condos Over $1M
Wailea Ekahi I #39D
Wailea
$1,050,000 (FS)
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This completely remodeled 1 bed, 1 bath, 792 sq. ft. unit provides the highest level of attention to quality and detail. As you walk in, you will feel the warmth from the velvet textured Italian plaster and appreciate the high ceilings with natural Lau-Hala and bamboo. This open floor plan provides mahogany trimmed built-in sofa & end tables in the living room, handmade mahogany plantation shutters, double zone central A/C, new flat screen TV & Bluetooth stereo system, and in wall built-in speakers.
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Honua Kai - Konea #NR926
Kaanapali
$1,495,000 (FS)
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This beautiful and spacious 2 bed, 2 bath condo has an extra large lanai that opens to both bedrooms and stretches the length of the unit. Conveniently located close to the main elevator and recycle trash shoot. You don't have to walk down long hallways to get to this prized unit.
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Makena Surf #G205
Wailea
$2,845,000 (FS)
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A stunning oceanfront, completely renovated 2 bed, 2 bath unit. Entering Makena Surf G-205, your eyes are immediately drawn to the rocky shoreline known as Turtle Town, and a quiet sandy beach with the island of Molokini in the distance. In this direction, the private lanai is sheltered from the afternoon trade-winds. Enjoy the famous Hawaiian in- and outdoor lifestyle, only interrupted by the peaceful sound of the waves.
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Montage Residences #4405
Kapalua
$2,995,000 (FS)
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Montage Residences Kapalua Bay. A truly one-of-a-kind opportunity to own a 3 bed, 3.5 bath unit along the West Maui shoreline, overlooking the white sandy crescent of Kapalua Bay, with panoramic ocean views framed by the neighboring islands of Molokai and Lanai. Located within the renowned Kapalua Resort, home to two championship golf courses, miles of hiking trails and an array of ocean activities.
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Montage Residences #2402
Kapalua
$5,495,000 (FS)
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Located within the renowned Kapalua Resort, home to two championship golf courses, miles of hiking trails and an array of ocean activities. Montage Residence 2402 offers a rare opportunity to fully embrace the Montage lifestyle. The combination of unparalleled location just steps away from the beach, an expansive 3 bed, 3.5 bath floor plan and Montage services make for true hassle-free resort living.
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Vacation Condos Under $1M
Aina-Nalu #I208
Lahaina
$569K (FS)
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Resort amenities await you in the heart of historic Lahaina town at Aina Nalu I-208. Aina Nalu is a vacation-rental friendly community close to restaurants, galleries, Lahaina Harbor, and shopping on famous Front St. This 2 bed, 2 bath condominium features contemporary island style finishes and décor, and is offered comfortably furnished and turn-key.
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Wailea Ekahi III #40D
Wailea
$845K (FS)
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This second floor, garden and mountain view, 1 bed, 2 bath unit is in a centrally located building away from external noises and distractions. The current long term owners have lovingly cared for, improved and maintained their property to almost model unit condition. It has been used personally and also as a vacation rental over the many years Sellers have owned the property. Plantation window shutters and tasteful sliding drapes throughout.
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Maui Kamaole #A112
Kihei
$899,900 (FS)
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Excellent, front row, ocean view, 2 bed, 2 bath unit. This condo has been updated throughout, adding the second bedroom to the large living room, fully permitted. Great ocean views from living room, kitchen, guest bedroom and lanai. New flooring, cabinets, vanities, quarts countertops to name just a few of the many upgrades.
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Residential Condos Over $1M
Masters #1604
Kaanapali
$1M (FS)
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Panoramic ocean, island and golf course views are yours at Maui’s exclusive The Masters at Ka'anapali. A quiet gated community nestled in the Kaanapali hillside, this pet-friendly 2 bed, 2 bath property features a variety of amenities including four tennis courts, two heated swimming pools, and two hot tubs. Located on the second floor, this luxury condominium features two bedrooms and two bathrooms.
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Masters #2604
Kaanapali
$1,050,000 (FS)
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This pet-friendly property features a variety of amenities including four tennis courts, two heated swimming pools, and two hot tubs. Located on the second floor, residence #2604 features 2 beds and 2 baths. This contemporary home overlooks the ninth fairway, giving you unobstructed views of Ka'anapali Royal Golf Course. Access to nearby Whalers Village offers opportunities for upscale dining, shopping, and recreation to complete your island lifestyle.
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Kahoma Village #86
Lahaina
$1,050,000 (FS)
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This home is a Plan 8 in the Carriage Ways, which is the most exclusive offering within Kahoma Village with only 32 residences being built. These homes will feature 4 beds, 3 baths, rear loaded 2 car garages, fenced side yards, spacious floor plans, front porches and lanais. Inside the home you’ll find GE Appliances, an island kitchen with granite countertops, quartzite counters in the bathrooms, solar water heating and a beautiful soaking tub as well as a walk-in shower in the master bath.
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Residential Condos Under $1M
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Maui Gardens #F103
Kihei
$275,500 (FS)
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An adorable 1 bed, 1 bath condo centrally located near shopping & dining & only a short walk to the beach. Enjoy the many amenities at this popular complex: A Pool, Tennis Courts, BBQ's and for convenience, your own mailbox on site.
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Kahalani Gardens #1402
Wailuku
$474,900K (FS)
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Spacious two level, 3 bed, 2.5 bath Condo located very near the new Foodland in Wailuku. Also close to shopping, golf, Iao Needle, hospital, and the airport. Professionally painted interior and steamcleaned carpeting. Brand new kitchen stainless and fingerprint resistant appliances.
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Kahoma Village #3-106
Lahaina
$590,048K (FS)
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The Villas townhomes have 6 units in a building. Each unit comes with GE kitchen appliances and quartzite countertops. Each 3 bed, 3 bath unit has a fenced back yard and 2 assigned parking stalls This is a single level Plan C end unit.
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Ukiu Rd #103E
Makawao
$373,500 (FS)
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This centrally located .202 acre lot in Makawao is within easy walking distance of the town center and ready for your home and cottage. The parcel is completely cleared, level and well maintained. It is a flag lot that allows your new residence be set back well of the road with mountain views.
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