Aloha
In this newsletter:
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Classic Keahou at Makena Estate
4557 Makena Road
Makena
$21M (FS)
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Update on the Real Estate Market
I just reviewed all the current stats, and there hasn’t been a lot of change lately. The market continues to be predominantly influenced by a lack of inventory.
The new listings coming to market especially condos are selling fairly quickly with the average days on market between 2 and 2.5 months. The selling price of most properties is at 100% of list price. We are, however, seeing many properties having price reductions due to unrealistic expectations. Once the price is adjusted to the market, they will usually sell.
As many you probably heard, the Federal Reserve signaled that they are going to continue tightening by raising interest rates. In fact, it appears the new target rate is 5.5% which means more increases will be forthcoming.
For those buyers who need to get a loan, it will become more expensive to borrow money. This should have somewhat of a dampening effect on prices, but the market has so far proven stubbornly resistant to going down. The median price for homes is still hovering at slightly under $1.1M and the condo median price is now $800K.
We do have buyers looking at a variety of different types of properties and in all price ranges, so if you are thinking of selling, please let us know. We might have the perfect match for you! If so, you will pass on our savings in marketing costs to you.
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. Hawaiian Electric refines Battery Bonus incentive program. Click here for more infomation.
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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266 (216)
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113 (79)
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951 (567)
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+1 |
Condos
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206 (108)
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235 (124)
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1312 (447)
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-10 |
Land
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140 (72)
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32 (12)
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227 (65)
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-3 |
Total
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612 (396)
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380 (215)
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2490 (1079)
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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
23 Waikalani Hema Place
Kihei
$1.65M (FS) |
Enjoy luxurious island living on this exquisite property that includes a 4 bedroom, 3 bath, mountain view home and a 1 bedroom, 1 bath ohana, located minutes from one of Kihei’s best beaches. The main house has a spacious great room with vaulted ceilings that create an open airy atmosphere and two lanais that provide ideal indoor/outdoor living and dining space.
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105 East Kuiaha Road
Haiku
$1.749M (FS) |
Just a minute from Hana Hway in Peahi. Main house is 5 bedroom, 5 bath on 2 stories with lots of decks, garage and carport, plus laundry room, workshop & storage rooms. A-frame with vaulted ceiling and loft upstairs. Downstairs with 2 bed 2 bath and carport/storage. Leased PV system helps to keep the electric bill low. Detached cottage is 1bed/1bath on upper floor, and lots of potential on the ground floor to make your own improvements.
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644 Anapuni Loop
Kaanapali
$3.1M (FS) |
The home is oriented to take in the world-famous ocean and outer-island views of West Maui. One enters the home on the lower level, which is protected by greenery on all sides. The ground level offers a large office space, a well-lit bedroom, a den, and a full bathroom. In addition, there are shaded covered lanai spaces on either side of the home.
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Homes Under $1M
63 Kalola Place
Kihei
$759K (FS) |
This little beach town charmer sits on a spacious lot with plenty of room to grow. The current R-2 zoning allows for expansion/additional structures, please refer to the Maui county website for more information. Enjoy sunny Kihei, this cul-de-sac is just a few blocks from the beach. Freshly painted inside and out.
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52 East Waiko Road
Waikapu
$825K (FS) |
Enjoy this 3 bedroom, 1 bath home with two car garage and a spacious backyard perfect for gatherings of family and friends. Additional room and bath with Separate entrance. Close proximity to main grocery stores, medical facilities and school. Come and see the possibilities this house has to offer to make it your home.
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72 Lumahai Place
Makawao
$998K (FS) |
Rare upcountry offering at this serene private cottage. Surrounded by an enchanting forest. Captivating North shore ocean views from the 576 SF covered, wraparound lanai. This spacious 729 SF, one bedroom, one bath, has vaulted cedar wood ceilings, granite countertops, and travertine tile throughout. Fresh paint in and out.
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Vacation Condos Over $1M
Grand Champions 52
Wailea
$1.775M (FS)
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A Wailea vacation condo at it’s finest. Unit 52 at the Grand Champions Villas crowns an upper floor corner location, offering two extra windows in both of the bedrooms, as well as extra windows in both bathrooms. The top to bottom renovation features an abundance of travertine tile throughout. This includes the floors in the entry area, the kitchen, the lanai and the two bathrooms.
Customer Listing Synopsis
Video/Virtual Tour
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Kaanapali Shores 258
Kaanapali
$2.149M (FS) |
Great location in the low rise tower within this beautiful beachfront property. Unit has been updated over the years from the owner and is in a busy vacation rental program. This resort boasts many onsite amenities, such as 24 hour front dest operation, full service restaurant, 2 swimming pools and Jacuzzi, tennis courts, Pickle Ball courts, activity desk, workout gym, gift shop.
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Kaanapali Shores 356
Kaanapali
$2.275M (FS) |
This suite offers excellent ocean views from the living room and main bedroom, Granite counter tops, refurbished kitchen and bathrooms. If you are looking for incredible value on Maui's West Side, chose the Aston Kaanapali Shores Resort. This popular 10-acre condominium hotel boasts two swimming pools, two spa pools, saunas.
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Mahana 1119
Kaanapali
$2.995M (FS) |
Discover this beautifully appointed and spacious two-bedroom residence at the Mahana situated at the North end of Kaanapali’s Kahekili Beach. A rare and coveted corner location on the South side of the Lanai building, it has floor to ceiling windows which frame the dramatic views of the sandy beach that extends all the way down to Puu Kekaa, Black Rock.
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Wailea Point 601
Wailea
$5.56M (FS) |
Pacific Blue at your feet! Top to bottom remodel with hard wood floors, open floor plan that flows from one room to the next. The only remaining materials from original build are the exotic koa cabinets. The unit comes fully furnished turnkey. Kick back and enjoy year round sunsets, epic whale watching from the large spacious lanai.
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Vacation Condos Under $1M
Waipuilani 305
Kihei
$575K (FS) |
This one-bedroom, furnished condo sits on the third floor, allowing the ocean breeze to flow freely through the floor-to-ceiling windows lining the main living space. The main living space and kitchen are adjoined, giving it an additional spacious feel. The full-sized bathroom is accessible through the hallway and the bedroom.
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Napili Shores D-232
Napili
$650K (FS) |
This studio unit is on the second floor with high ceilings for a feeling of spaciousness. It is located just a short stroll to the ocean’s edge and the famous Gazebo Restaurant. Onsite amenities include 2 swimming pools, 2 restaurants, barbecue areas, a strong vacation rental program.
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Kihei Kai 4
Kihei
$695K (FS) |
North Kihei hidden gem. This unit is a turnkey vacation rental in a small 24 unit Beachfront complex on Sugar Beach. This unit is heavily booked with a great rental history.
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Kihei Kai Nani 254
Kihei
$745K (FS) |
Desirable open concept layout and updated finishes. Making this the perfect island getaway. Upon entering, find yourself welcomed by light-filled interiors that let the outdoors in. To the left of the primary living space, you’ll find an upgraded kitchen with ample counter space, stainless steel appliances and an island.
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Kihei Kai Nani 211
Kihei
$759K (FS) |
This beautiful 1 bed 1 bath, 621 sf. vacation rental has recently been remodeled. Upgrades include a spacious new kitchen, modern appliances, a ceramic sealed cooktop with oven, microwave, upgraded bathroom and new flooring inside the unit and lanai. The unit comes with 2 new AC split systems in living room and bedroom.
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Residential Condos Over $1M
Wailea Palms 3508
Wailea
$1.799M (FS)
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A top floor, 2 bedroom 2 bath unit situated in the lower quiet area of the complex. 3508 has a desired north facing location allowing for maximum use of the nearly 300 sq ft partially covered lanai! There are stunning ocean views with west Maui in the background from the primary bedroom, lanai, and living room. The unit has a tastefully remodeled kitchen with stainless steel appliances.
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Wailea Fairway Villas X-103
Wailea
$1.899M (FS)
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This three bedroom three bath condo has a beautifully updated kitchen and an extra bonus space upstairs that is perfect for an office or family room. The unit is in a great location in the complex, and it is being sold furnished to make your transition simple.
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Residential Condos Under $1M
Puuone Towers and Plaza 601
Wailuku
$310K (FS)
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Welcome to this 2 bedroom, 1.5 bathroom unit at Puuone Towers, located in a central location of Maui, offering breathtaking mountain and ocean views. Imagine sitting on your lanai, feeling the refreshing breeze and watching the rain hit the mountain valleys. This pet-friendly unit has great potential, it presents a fantastic opportunity for a renovation to make it your own.
Customer Listing Synopsis
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Kihei Villages 13-104
Kihei
$635K (FS)
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This unit has two bedrooms and two bathrooms with shower in second bathroom. There is one parking stall and nice private yard. Pets are allowed in this complex. Great tenants would love to stay. Note there are stairs up to front door.
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Villas at Kenolio 3-D
Kihei
$699K (FS)
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Rare opportunity to own a fully furnished, completely dialed in 2 bedroom, 2 bath ground-floor condo in the best building in one of the loveliest pet-friendly properties on Maui. Located in the only four-unit building in the Villas at Kenolio, this condo is ideally situated, with expansive views of greenspace from the lanai.
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Hale Kanani 3-102
Kihei
$820K (FS)
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This well maintained 2 bedroom 2 bath unit is located on the ground floor and is 1 of 8 units in the complex with an extra storage unit! There is carpet and tiled flooring throughout as well as ceiling fans and central AC. The covered lanai looks out towards the tropical landscaping along side the road way.
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Vacant Land
0 Kiha Place Lot 46
Wailuku
$499K (FS)
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Amazing opportunity to own a custom homesite in the new Wai'olu Estates development. This lot is located towards the end of Kiha Place and is 9,911 square feet. Enjoy beautiful Haleakala mountain views. Subdivision improvements are underway and are scheduled to be completed at the end of summer 2023. Use and access will be limited until construction is complete.
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