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Aloha
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In this newsletter:
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Unparalleled Paradise Living
52 Nonohe Place
Paia
$8.5M (FS)
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Don’t Forget to File for an Extension to Protect Your Full 180-Day Exchange Period
jIf you are conducting an IRC §1031 exchange and your relinquished property will close between October 18th and December 31st, 2024, please be aware that your normal exchange period of 180 days will be shortened.
Why? Because Treasury Reg. §1.1031(k)-1(b) (ii) - provides as follows:
(ii) The exchange period begins on the date the taxpayer transfers the relinquished property and ends at midnight on the earlier of the 180th day thereafter or the due date (including extensions) for the taxpayer’s return of the tax for the taxable year, in which the transfer of the relinquished property occurs.
In other words, you have 180 days after closing your relinquished property to complete your exchange UNLESS your tax filing deadline occurs first, in which case your exchange period will instead expire on the day your taxes are due. In 2025, the anticipated due date for filing 2024 returns (for most taxpayers) is Tuesday, April 15th, 2025.
For example, suppose Mr. Smith sells Greenacre Farm on December 11th, 2024 as part of a 1031 exchange. The 180th day thereafter is June 9th, 2025. Unfortunately, Mr. Smith will not have until June 9th to complete his exchange because his tax filing deadline (April 15, 2025) will occur before the 180th day of June 9th. If, however, Mr. Smith requests an extension of time to file his tax return, he will get the benefit of a full 180-day exchange period.
So, exchangers, if your relinquished property closed between October 18th, 2024 and December 31st, 2024, don’t lose out on your full 180-day exchange period. Make sure you file for an extension on or before April 15th, 2025 or your applicable tax filing deadline.
For information on filing for an extension, please visit the IRS website at:
http://www.irs.gov/taxtopics/tc304.html
"This reminder comes from Julie Bratton, Vice President and Regional Sales Executive at Old Republic Exchange Company."
Mahalo Nui Loa,
Ken Smith R(S), Melissa Smith R(B), and Gregory P Smith R(B)
The Smith Team
P.S. Wailuku Art Space exhibition opens Friday.
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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329 (283)
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144 (110)
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738 (534)
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-8 |
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Condos
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704 (291)
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71 (27)
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893 (390)
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+10 |
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Land
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175 (71)
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37 (13)
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181 (77)
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-1 |
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Total
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1208 (645)
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252 (150)
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1812 (1001)
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+1 |
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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
308 Kulalani Drive
Kula
$1.195M (FS) |
This beautiful, quaint home backs up to the gulch and offers privacy, serenity and amazing mountain and ocean views. Recently remodeled featuring a brand-new kitchen with quartz countertops, new cabinets and appliances. Lots of natural light, high ceilings, all new paint inside and out, Treks decking, new roof/gutters and new luxury vinyl flooring throughout.
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388 Pualoa Nani Place
Wailea
$2.85M (FS) |
Situated in the gated community of Wailea Pualani, 4 bedroom, 3.5 Bath, home. As you enter you are greeted with double entry doors that lead into an impressive space with high ceilings. The lower level features a spacious guest suite -the perfect space for your extended family, guests, or home office.
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490 Kaiola Place
Kihei
$4.999M (FS) |
9-unit Residential Condominium consisting of 3 residential homes and 6 vacant lot units. Two of the homes have been remodeled and the third can be sold to the current tenant. There are six vacant lots allocated for single family residential homes ranging from 4,200 square feet to 4,450 with one smaller ohana unit.
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4584 Makena Road
Makena
$10M (FS) |
A rare opportunity for the savvy Buyer looking for privacy, spacious surroundings, yet in the midst of Valley Isle’s best. Located on one of the most picture-perfect beaches of Hawaii, Poolenalena Beach, it offers a perfect place from which to enjoy quiet sunsets, walks on the beach, snorkeling, paddle boarding, and much more.
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Homes Under $1M
180 Hoomoku Street
Kahului
$897K (FS) |
This charming two-story home is part of a cozy 4-plex, offering a unique and functional layout. The first floor features 2 spacious bedrooms, a shared bathroom, and bonus Harry Potter-style storage nook tucked beneath the staircase. And across the way you will find a laundry room equipped with a washer and dryer.
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709 Kaulu Place
Kahului
$975K (FS) |
This 3 bedroom, 2 bath home features a dining area, living room and bonus family room. Two car garage with laundry nook & additional driveway parking. Enclosed back yard offers a clean slate for gardening, families, pets, a pool and more.
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148 Hoomoku Street
Kahului
$999K (FS) |
Remodeled duplex lives large in prime central location. Large studio upstairs with bamboo and travertine floors and dishwasher. 2 bedroom apartment on ground floor. Both with new cabinets and granite countertops. Shared laundry off driveway with new LG front-loading machines. Original net-metered PV keeps power bills low.
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351 Uluna Street
Kahului
$999K (FS) |
Welcome to your dream home, a charming 3 bedroom, 2 bath house with 1,298 square feet of thoughtfully designed living space. This residence perfectly balances modern comfort and convenience with scenic beauty and community charm. If you are looking for a serene retreat, keeping you close to all that Maui has to offer, this home promises to meet all your needs.
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Vacation Condos Over $1M
Kapalua Ridge 815
Kapalua
$1.12M (FS)
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Enjoy the ocean and Molokai views from this modern and minimalistic furnished townhouse style villa in Kapalua Resort. The end unit location allows for more windows for natural light during the day and plantation shutters affords for maximum privacy in the evening. A smart floor plan with living.
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Napili Point C-7
Napili
$1.75M (FS)
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The ocean views are absolutely breathtaking, and you'll enjoy stunning sunsets with the neighboring islands of Lanai and Molokai as your backdrop. This 2 bedroom, 2 bath unit boasts a three-zone AC system to keep the space comfortably cool, with electricity included in the maintenance fee. Start your day with a cup of coffee or enjoy evening meals on the lanai.
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Hoolei H-2
Wailea
$5.495M (FS)
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The unit offers approx. 2,426 s.f. of living area on two levels, including a private interior elevator, 3 spacious bedrooms with elegant en-suite custom bathrooms, an exquisite powder room & an add'l 596 s.f. of covered exterior lanais. There are lovely ocean & verdant pastoral views from the moment you enter the great room.
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Vacation Condos Under $1M
Kalama Terrace L-204
Kihei
$525K (FS) |
Welcome to this charming 1 bedroom, 1 bath unit at Kalama Terrace. 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.
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Shores of Maui 215
Kihei
$650K (FS) |
Unobstructed ocean-views are yours from this stunningly remodeled 1 bedroom 1 bath vacation rental condo directly across the street from the beach. As one of the largest 1 b units in the Shores of Maui, it is perfectly situated with underground electrical and telephone lines. The condo features an exceptional upstairs finished loft, not included in the interior square footage, for additional living area or storage.
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Haleakala Shores B-402
Kihei
$888K (FS) |
This property features larger 1048 sf 2 bedroom units in Kihei. Nice private lanai on the south side of the building overlooking the pool with views of West Maui Mountains and ocean views over building A. Peaceful mornings and lovely sunsets. Great location across from Kamaole III Beach Park for swimming, snorkeling, sunset and playground.
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Residential Condos Over $1M
Keala O Wailea 7-102
Wailea
$2.3M (FS)
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This ground floor, 2 bedroom, 2 bathroom condo at Keala O Wailea has been impeccably maintained. The spacious and private unit features high end Bosch stainless appliances, quartz countertops and a large lanai with views of the West Maui Mountains and the sparkling blue Pacific Ocean.
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Wailea Point 2004
Wailea
$3.999M (FS)
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This immaculately maintained 2 bedroom, 3 full bath Villa has been thoughtfully designed and appointed to entertain friends & family in comfort and is offered fully furnished and move-in ready. The highly sought after upper B floor plan features a custom staircase and loft area which provides an additional sleeping area for guests.
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Residential Condos Under $1M
Puuone Gardens 18
Wailuku
$439K (FS)
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Wake up to gorgeous Haleakala and Harbor views from this newly updated 2 bedroom, one bath condo at Puuone Gardens. Unit 18 is located at the end of the second building with trade wind breeze, natural light, close proximity to shared laundry space and assigned carport parking. This complex is centrally located near schools.
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Keonekai Villages 14-102
Kihei
$599K (FS)
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This 2 bedroom, 1 bathroom ground-floor unit (no stairs!) features stunning new upgrades, including three split AC units, stainless steel appliances, butcher block countertops, shelving for added storage, white cabinet faces, a beautiful tile backsplash, and more. The bathroom is gorgeously remodeled, adding even more appeal.
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Iao Parkside 27-204
Wailuku
$599K (FS)
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This gorgeous 2 bedroom, 1 bath completed remodeled upstairs unit features luxury vinyl plank flooring throughout, which gives it a modern and sophisticated feel. The newly renovated kitchen and bath boast light wood cabinetry and elegant granite countertops. You'll love the brand new stainless steel appliances in the kitchen that provide both style and convenience.
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Vacant Land
1351 Pulehuiki Road Lot 2
Kula
$825K (FS)
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This 2-acre prime lot at 1351 Pulehuiki Road presents a rare opportunity to build your dream home in one of Kula’s most coveted locations. Perfectly situated on the western slope of Haleakala, this shovel-ready property offers sweeping sunset views and breathtaking vistas of Maui’s neighboring islands. Pre-approved architect-designed plans for a luxurious modern plantation-style home are included.
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