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Aloha Valued Subscriber
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In this newsletter:
Short Sales
Homes
Condos (0)
Land
New Properties (0)
Price Reductions (0)
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$1 Million Price Reduction
at Makena Estate
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Market Update
A recent report, "Hawaii Vacation Rentals: Impact on Housing & Hawaii's Economy" found that 66% of non-residents who own property on Maui rent their properties out. Of those being rented only 16.7% are rented to full time Maui residents which means nearly half of Maui properties owned by off-island residents are used as vacation rentals.
The report goes on to state that Maui has the highest percentage of units being used for vacation rentals in the state at 1 out of 7 units. It should be noted that figure includes condos that allow vacation rentals per county zoning. In Lahaina the ratio is higher at 1 of 3 units being used as a vacation rental.
60% of all condos sold on Maui are purchased by non-residents and 52% of homes are bought by out-of-state buyers. Foreign investors see the Maui vacation rental industry as tremendously profitable. There are an estimated 9,000 vacation rentals on the island.
The vacation rental industry and lack of new housing to keep up with Maui's natural growth demand has created a stressed housing market. The planning department was allotted $80,000 to hire an outside company to help them with a county crackdown on illegal vacation rentals. Other legislation aims to ease restrictions on property owners building ohana's or accessory dwellings as a way to create additional housing.
Have a wonderful week!
Ken, Melissa, Greg and Lindsey
P.S. - Easter falls on Aprils Fool's day this year. Celebrate with the Easter Bunny at Lahaina Cannery Mall on Saturday, March 31st. A Easter Egg Hunt will also be held at the Grand Wailea resort on Sunday beginning at 12:30 am.
Melissa Smith R (B), Ken Smith R (S), Gregory Smith R (B), Lindsey Taylor R (S)
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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493 (291)
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238 (59)
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1161 (267)
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-13 |
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Condos
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625 (174)
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364 (57)
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1493 (205)
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-14 |
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Land
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343 (142)
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47 (11)
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240 (28)
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-5 |
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Total
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1461 (607)
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649 (127)
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2894 (500)
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-32 |
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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
3042 Alaneo Road
Wailuku
$1.279M (FS) |
Spectacular breathtaking view of Maui. Beautiful blue Pacific ocean, city lights at night and Haleakala views from this fabulous 3 bed, 3 bath old Wailuku Heights home. Entertain in your new kitchen with custom designed and built African Mahogany cabinets, SubZero refrigerator, Wolf oven and stove top, and Bosch dishwasher.
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2409 Waipua Street
Spreckelsville
$2.899M (FS) |
The one you have been waiting for in Spreckelsville, 2409 Waipua Street. Every once in a lifetime comes an opportunity that is simply too good to be ignored. This beautiful large and gracious home features over 4,500 sq ft of interior living space including the attached mother in law quarters. The home features 5 ensuite bedrooms and a powder room that flow elegantly throughout the residence.
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 4366 West Waiola Street
Wailea
$3.495M (FS) |
As you enter this home, you are captivated by the Molokini to West Maui views and the expansive, luxurious interior. Situated on the 14th tee of Wailea Old Blue course, this home features two master suites and ocean views from nearly every room.
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Homes Under $1M
1345 Haiku Road
Haiku
$490K (FS) |
Quaint bygone era 3 bed, 1 bath home in beautiful upcountry Haiku. Situated on a half acre lot with mature landscaping.
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461 Palani Place
Wailuku
$629.5K (FS) |
Incredible property located in Old Wailuku Heights. The property consists of 10,485 sq ft with a 2 bed, 1 bath cottage that has approximately 256 sq ft deck for entertaining and enjoying breathtaking ocean views and Haleakala sunrises.
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98 Alena Place
Kihei
$685K (FS) |
Welcome home to this charming 3 bed, 2 bath Kihei home located on a spacious and beautifully landscaped corner lot. New appliances, flooring, and kitchen face lift in 2015. Stainless steel kitchen appliances. Magnificent front porch along with large lanai space in the backyard, perfect for hanging out or entertaining friends and family.
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135 Kulalani Circle
Kula
$777K (FS) |
Located in the Kula Orchards Subdivision at an elevation of approximately 3,000 ft. near Kula Lodge you will find this charming single level 3 bed, 2 bath home on approx. 29,298 sq ft of interim zoned land This house is freshly painted on the interior and is move in ready.
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214 Kulipuu Street
Kihei
$999K (FS) |
Beautifully maintained 4 bed, 3 bath home with an attached ohana. Some views of the ocean and mountains from spacious lanai. Included in the sale are 29 solar panels that cost $45,479 to install. The panels are separately metered so the new owner can remotely access valuable information from literally anywhere.
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Vacation Condos Over $1M
Hale Hui Kai #104
Kihei
$1.099M (FS) |
Hale Hui Kai a hidden gem on Keawakapu beach. A boutique complex of 40 units in a fabulous location. This complex boasts the "old hawaiiana" feeling from the minute you walk into its quiet lush green walkways. 2 bedrooms, 2 full baths with a lovely lanai and a smart design throughout.
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Makani Sands #305
Honokowai
$1.298M (FS) |
Makani Sands is a quiet, small complex in the sought after area of Honokowai (half way between Kaanapali and Kapalua). The top (3rd) floor of the building is comprised of 10 3 bedroom, two story units.
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Honua Kai Hoku Lani #348
Kaanapali
$1.699M (FS) |
Own the Maui Dream with this quiet luxury 2 bedroom condo. The shaded lanai allows for all day outdoor living in paradise. Enjoy overlooking the beautifully manicured gardens and the unimpeded stunning views of the ocean and neighboring island of Molokai. This private lanai also offers clear views of the lush West Maui Mountains.
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Vacation Condos Under $1M
Maalaea Banyans #412
Maalaea
$570K (FS) |
This fully furnished 2 bed, 2 bath residence is ready for you to start living the Maui dream. This fourth floor unit has amazing views of Maalaea bay, Haleakala and Kahoolawe island in the distance. You can watch whales in the winter and turtles year round from your lanai. This unit has granite countertops in the kitchen and custom tile in the bathrooms.
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Palms at Wailea #1708
Wailea
$735K (FS) |
Welcome to the highly sought after Palms at Wailea. This contemporary 1 bed, 2 bath condo presents an exceptional value. Nestled on the second floor under the monkey pod trees you will enjoy Haleakala views and peeks of the ocean.
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Kamaole Sands #7-409
Kihei
$747K (FS) |
Over the top upgrades. All new Kitchen and baths, tile throughout, split A/C, and large lanai. The staircase has been moved from the center of the room, and now runs up the side wall creating more usable living space. This 2 bed, 2 bath unit is priced for the buyer who wants to the best.
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Kapalua Ridge #1114
Kapalua |
Wake up in your own 1 bed, 2 bath villa where the coastal decor compliments the Kapalua vibe. Live the resort life in Kapalua, coastal and mountain hiking trails, white sand beaches and exciting award winning restaurants.
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Wailea Ekolu #1509
Wailea
$999K (FS) |
This spectacular 2 bed, 2 bath Wailea Ekolu Condo is located in what is considered to be in the highest sought after building #15 resting on the 11th tee box of the Wailea Blue course. Ground floor unit with a gorgeous panoramic ocean view from the lanai and living area.
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Residential Condos
Puuone Towers and Plaza #209
Wailuku
$212K (FS) |
Here is your opening to get in to the Puuone Towers. This 2 bed, 1.5 bath unit is in a mostly original condition and move in ready or can be updated. This is a well maintained secured entry property with one elevator, a pool with small cabana and outstanding mountain and partial ocean views.
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Iao Parkside #24-101
Wailuku
$259.9K (FS) |
Bank Owned - Located in Central Maui, close to shopping, dining, world class entertainment and a short drive to our famous windsurfing beaches. Near airport and schools. This pet friendly condo has a small yard that looks out onto a greenbelt. Take this opportunity to purchase a 3 bed, 2 bath condo located in the center of everything and update this "diamond in the rough" to your design and colors.
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Napili Villas #4
Napili
$515K (FS) |
Opportunity awaits with this 3 bed, 2 full bath single level residence with a fenced yard and some ocean views. This residence is at the top of Napili Villas and sits at the end of a cul de sac with no through traffic.
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Vacant Land
0 Hana Highway
Hana
$1.95M (FS) |
With dramatic mountain and ocean views, both coastal and across Alenuihaha Channel to the Big Island, this magnificent 46.39 acre oceanfront property is within walking distance of the world famous Hamoa Beach and adjoins Waioka Pond (Venus Pool) on its southern boundary. This unique property offers the discerning buyer the opportunity to create an extraordinary oceanfront ranching estate.
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