Aloha
In this newsletter:
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North Shore
Estate
400 Mehana Road
Haiku
$15.9M (FS)
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2023 Mid-Year Market Insights
As we cross the midpoint of 2023, the Hawaii real estate landscape continues to adapt to higher mortgage rates and tighter inventory levels. While the year started off sluggish due to a spike in mortgage interest rates that edged out many prospective buyers, the market has since shown signs of rebounding.
A tight supply of available homes for sale throughout the first six months of the year has continued to put pressure on the market, supporting near-record-high prices for single-family homes and condos. With so few homes for sale across the islands, sellers remain in control of the market. However, properties that are priced too high or do not present well are seeing an increase in days on market and multiple price adjustments.
Despite these headwinds, the luxury market has demonstrated resilience, maintaining its strength with steady demand from high-end buyers. The upper-tier properties continue to allure buyers, showcasing Hawaii's perpetual appeal to those seeking the pinnacle of paradise living.
Looking ahead, buyers are beginning to adjust to the reality of higher mortgage interest rates. This shift in buyer sentiment could bode well for market stability and resilience in the coming months. As a result, we anticipate sales activity to moderately increase through the end of the year as the Hawaii real estate market remains robust and adaptive, ready to navigate through the ever-evolving economic conditions.
For more information about a specific neighborhood, condo complex, or the current value of your home, please contact me at any time.
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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230 (195)
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113 (79)
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814 (483)
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-18 |
Condos
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218 (111)
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190 (104)
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1038 (358)
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-1 |
Land
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127 (63)
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38 (9)
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194 (58)
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-5 |
Total
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575 (369)
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341 (192)
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2046 (899)
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-24 |
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
66 Kupaloke Street
Wailuku
$1.196M (FS)
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This brand new & move in ready home Full landscaping with irrigation package! This home comes with fully upgraded kitchen appliance package to include refrigerator and washer & dryer. There is luxury vinyl plank floor and vaulted ceiling in the second-floor great room, oversized dual glazed vinyl windows, and many more upgrade features for your daily enjoyment.
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3230 Pikai Way
Wailea
$2.5M (FS)
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Single level living in the highly sought-after “Little Kai” gated neighborhood. This 3 bedroom 3.5 bath home has had several updates over the past few years and enjoys a large pool with a relaxing lanai area. The delightful gated courtyard entrance and lush landscaping with numerous palms gives this home a true Hawaiian feel.
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1180 Halepaka Place
Lahaina
$2.849M (FS)
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A charming property featuring 4 bedroom, 4 bath main home and an attached 1/1 ohana. This property is nestled on a quiet cul-de-sac allowing for privacy plus serenity, all while being within minutes from all that Lahaina has to offer. This home offers a flexible layout and design, making it a perfect family home.
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Homes Under $1M
3305 Laulima Lane
Makawao
$785K (FS)
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This stunning real estate listing features a lovely 2 bedroom, 2 bathroom CPR home, detached laundry room and shed for additional storage located in the Upcountry of Maui. With breathtaking mountain views, this property offers a serene and picturesque setting. The house has been fully renovated, ensuring a modern and comfortable living space.
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120 Eleu Place
Kihei
$849K (FS)
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Your personal touch is needed in your tropical oasis. Large trees provide shade so people may meander through the yard and take in the expansive garden. A good place to sit and unwind from the hustle and bustle is in your peaceful backyard with views of Haleakala. This 2 bedroom, 2 bathroom house with a detached.
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686 Onipaa Place
Makawao
$915K (FS)
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Beautifully remodeled 3 bedroom, 1 bathroom home located in peaceful Makawao town. This home boasts a fully fenced-in green grass yard that’s usable in the front and back of the home. It also provides lots of great storage areas. Enjoy the country views as you sit on the deck outside or cuddle up next to the warmth of the fire pit.
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Vacation Condos Over $1M
Maui Parkshore 114
Kihei
$1.1M (FS)
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This is a must see ground level vacation rental unit. Across the street from Kamaole three beach park. A short drive from the Shops at Wailea and many restaurants, bars, shopping and golf courses. Updated in 2016. The only listing available in the complex at time of listing and the least expensive two bedroom.
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Kapalua Ridge 1114
Kapalua
$1.6M (FS)
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Great ocean views from this 1 bedroom, 2 bath villa complimented by a coastal decor with a Kapalua vibe. Upper windows have been changed to glass to allow for maximum light. Bathroom showers have been upgraded. Newer appliances. Murphy bed in living room for your guests to enjoy. Private lanai and it is fully furnished.
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Wailea Ekahi 49-A
Wailea
$1.85M (FS)
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This charming and remodeled 1 bed 2 bath unit, awaits you in the highly sought-after Wailea Ekahi III. Embrace the true essence of Hawai'i as you relax on your private patio and enjoy breathtaking ocean views amidst your own serene garden. Inside, you'll be delighted by the recent upgrades and renovations completed in 2020.
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Vacation Condos Under $1M
Kihei Akahi D-G01
Kihei
$650K (FS)
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This studio offers a fantastic opportunity to own a slice of paradise in South Maui. As you step into this cozy studio, you'll be greeted by an inviting and well-designed space. The open floor plan seamlessly integrates the living, dining, and sleeping areas, maximizing the available space and offering versatility in furnishing options.The studio is tastefully decorated and features modern finishes, creating a contemporary coastal vibe.
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Koa Kai 10-A
Kihei
$775K (FS)
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This beautifully remodeled and tastefully furnished unit in the heart of Kihei is what you are searching for. Enjoy the cool trade winds, ocean views, and heavenly sunsets from your slice of paradise. Koa Kai is a boutique property with only 18 units and offers a pool.
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Kihei Kai Nani 4-319
Kihei
$789K (FS)
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Unit is situated away from the road and is a very Peaceful, private and quiet corner 1 bedroom 1 bathroom with extra storage cabinets on lanai. You are near some of the finest beaches in the world. Kihei Kai Nani complex is located directly across the street from Kamaole Beach Park II and is conveniently located in the heart of Kihei Maui.
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Residential Condos Over $1M
Papali Wailea 10
Wailea
$4.6M (FS)
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Rarely available, this 3 bedroom, 3.5 bath single level residence is exceptional in every way. Papali’s brilliant design and architecture, sets this community apart and is one of the most exclusive, and sought after gated communities on Maui. Residence 10 features three en-suite bedrooms each with their own lanai.
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Residential Condos Under $1M
Maui Lani Terraces E-102
Honokowai
$499.9K (FS)
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Step into this fully remodeled unit at Maui Lani Terrace, and relax with a peek a boo view of the ocean. Located in the near middle of the complex unit sits in a location to let you enjoy the unit while watching the day go by.
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Haleakala Gardens 19-H
Kihei
$649K (FS)
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A rare 3 bedroom 2 bath condo in Kihei walking distance to beach. Haleakala Gardens is a favorite project for it's sprawling grounds, plenty of parking and close proximity to the beach. Enjoy no one above you in this 2nd floor unit with vaulted ceilings. newer carpet and vinyl flooring. Flooring and baths were updated in 2021.
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Villas at Kahana Ridge 831
Kahana
$728K (FS)
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A very spacious unit with high-vaulted ceilings and a open-space floor plan. The fresh paint and brand-new Mink Aire drop-down ceiling fans in all the rooms gives the place a "beach" feel. Being a corner unit, the prime on-suite has extra large windows bringing in light and the mountain breeze.
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Vacant Land
1771 Piihana Road
Wailuku
$225K (FS)
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The property is within the project district. No building permits will be issued until conditions has been met. Buyer is encouraged to do own due diligence. TMK 2-3-4-32-28 is included with the sale which consists of 6727 sq. ft. of lot. Each TMK entitles one water meter. One of water meter was approved, but are not paid yet. Partial of the lot is within the Flood Plain Easement.
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37 Alohi Place Unit B
Pukalani
$345K (FS)
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Big Views from this elevated 3,681 SF CPR lot close to Pukalani town center and community pool. Permits have been submitted for plans of a 719 SF living area with 177 SF lanai and 464 SF carport and are included with the purchase of the vacant lot.
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