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Market Update
One of the most important contingencies for a condo purchase is the condominium association documentation approval. You normally have 7 to 10 days to review and approve the documents after receipt.
This documents are often 2 inches thick or larger and include a list of items such as the approved minutes of the last three Board of Directors meetings, By-laws and Amendments, CC&R's (Covenants, Conditions, and Restrictions), House Rules, Design Standards and/or Guidelines, Current Financial Statement, Current and/or Proposed Budget, copy of any and all pending litigation complaints filed by or against the Owner's Association, etc.
It could feel like a daunting task to read all of the information and often times buyers do not read them.
There is a great article from Tara Nelson of Inman News called, "3 Things Many Condo Buyers Ignore But Shouldn't".
She expresses that it is important to read all HOA disclosures thoroughly. For example, there may be a special assessment for the roof or pool in the near future that all homeowner's will have to pay for since there are not enough available funds in the budget. If you plan on remodeling your unit and you are purchasing in a vacation rental complex, you may have to wait until low season to start construction.
The association may have a design review committee that will charge you a fee to review your plans. Each Homeowner's association is different, so it is a good idea to read the disclosures thoroughly. The condominium association documents contain important information that many condo buyers should not ignore. If for some reason you are unhappy with what you find out, you may elect to terminate the Purchase Contract.
Mahalo Nui Loa,
Greg, Melissa, Ken, and Jeremy
P.S. - Go to www.mauinow.com and click on the "Deals" section for special deals including 20% off ground termite treatment at Terminex.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for August 27th, 2012
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Active |
Pending |
Sold |
Change |
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Homes |
506 (235) |
264 (23) |
892 (122) |
-4 |
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Condos |
821 (162) |
215 (8) |
1163 (70) |
+17 |
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Land |
412 (97) |
28 (4) |
142 (17) |
+1 |
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Total |
1739 (494) |
507 (35) |
2197 (219) |
+14 |
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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
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50 Apuwai Street
Haiku
$2.49M (FS)
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You pass through the gated, curved, lava rock entrance & immediately sense 'balance' & the attention to detail evident in this N. Shore ocean view estate. 3 swaying palms adorn the motor court's raised moss rock island, while a sonorous stream runs 150 feet along the house front & under the cedar-ceilinged entrance. Double entry doors with circular glass open to 180 degree Ocean Views framed by expansive lawns & verdant green fallow fields.
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130 Keoawa Street
Kapalua
$3.995M (FS)
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Completed in 2008, you enter this energy conservation property via a gorgeous circular driveway with ample parking, surrounded by lovely green landscaping with spectacular panoramic views in every direction. Relax in the intimate interior, quality built Zen/Minimalist designed 3,800 sq ft residence with approx 6,000 sq ft under roof, 4 bd. / 4.5 bath including studio Ohana w/full kitchen, washer & dryer, (2) car garage, salt water pool & hot tub, all nestled on 3.52 acres.
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Homes Under $1M
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80 Kaniela Street
Wailuku
$224.9K (FS)
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Bank Owned. This property is in an older neighborhood with some homes kept up. The house is charming with laminate flooring and is kept up pretty good.
Customer Listing Synopsis
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3564 Kekahi Place
Makawao
$249K (FS)
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Conveniently located near Makawao Elementary School and walking distance from Makawao town, this cozy 2 bedroom and 1 bath home offers a great opportunity for a first time homebuyer.
Customer Listing Synopsis
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209 Anamuli Street
Kahului
$392K (FS)
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Short Sale. Comfortable, single-level floor plan at The Legends at Maui Lani. This 3 bedroom, 2 bath home offers central A/C, corian solid surface countertops, open great room and solar water heater. Fully fenced yard with inviting landscaping planted with native Hawaiian foliage and trees that offer shade, privacy and nourishment (grapefruit, papaya, bananas, and star fruit).
Customer Listing Synopsis
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105 Anuenue Place
Kula
$599K (FS) |
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Bank Owned. Wonderful upper Kula residence with an excellent location at the end of Anuenue pl. Almost a full acre of useable sloping land looking out directly to the West Maui mountains. A large master bedroom and on suite bathroom with Jacuzzi tub awaits you. The wood burning stove for those cool winter evenings, hardwood flooring in the main living area and all new carpeting and interior paint throughout. The downstairs boasts an imported wood exercise floor, a family room and 2 bedrooms.
Customer Listing Synopsis
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45 Kapii Street
Haiku
$750K (FS) |
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Bank Owned. Tile King Palace is this roomy home on a ridge in Haiku with ocean and mountain Views. Built in 2000, the Palace has a 4,348 sq. ft. interior with 5 bd. 4.5 baths and is situated on 2.42 acres of meadow interspersed with tropical plantings, hibiscus hedges, palms and fruit trees. Perfect location is just above 1,000 feet above sea level, so you are comfortable but not chilled, and you are a short 15 minute drive from Paia town.
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Vacation Condo Over $1M
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Ho'olei S-1
Wailea
$2.05M (FS)
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Sit back and relax in this spacious 3 bedroom, 3.5 bath beautiful Wailea condominium. Ho’olei S-1 is literally the closest unit to the pool area and is walking distance from the Grand Wailea Resort. The Ho’olei community represents a unique fusion of tropical beauty and island lifestyle unparalleled in South Maui. For those seeking the privacy of an upscale residence with the ease of a condominium, Ho'olei offers the ultimate opportunity.
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Vacation Condos Under $1M
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Island Surf #411
Kihei
$237.5K (FS)
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Short Sale. This ocean view 2 bedroom 2 bath vacation rental is perfectly situated walking distance to beaches, surfing, stand up paddling and dining. Great location with winter sunsets and the cove surf spot.
Customer Listing Synopsis
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Kahana Reef #108
Kahana
$347.5K (FS)
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Direct oceanfront, fee simple, large one bedroom condominium with ground level walk out access to pool and ocean.
Customer Listing Synopsis
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Wailea Ekolu #1403
Wailea
$419K (FS)
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Short Sale. This one bedroom, two bathroom, ground floor Wailea Ekolu condo is priced to sell. The kitchen and bathrooms have been remodeled and the floor plan has a nice flow.
Customer Listing Synopsis
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Residential Condos
Kamoa Views #306
Kihei
$190K (FS) |
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Short Sale. Kamoa Views is a well maintained 44 Unit Residential Condominium Complex. The property is located on a rise just above Cove Park in South Kihei. Kamoa Views boasts a private swimming pool and barbecue area. Residents enjoy the comfort of the building's security access. The condo unit has central A/C, included in the monthly maint. fee, and a pleasant open and airy floor plan.
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Hoolea Terrace #2102
Wailuku
$219K (FS) |
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Developer Deal. New Release Offered to owner occupants only for first 30 days of listing. Brand new condos on the slopes of the West Maui Mountains. All units have 9-foot ceilings, Kenmore kitchen appliances and an interior laundry closet. All units have 2 assigned parking stalls. This is an downstairs unit with covered lanai and ocean views.
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Na Hale O' Makena C-102
Makena
$1.199M (FS) |
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Island living at its best. This spacious residence is located in the prestigious Na Hale O’ Makena Resort built in 2002 on 6 beautiful, lush acres of land. Offered turn-key, this professionally decorated and fully equipped unit offers top of the line furnishings and appliances. Marble and stone floors throughout, granite counter tops, Snaidero cabinets, Gaggenau, Bosch and GE Monogram appliances. Enjoy the indoor outdoor living that only a ground floor can give you. Conveniently located to the pool and fitness center.
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Vacant Land
1760 Kaahumanu Avenue
Wailuku
$229K (FS) |
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Bank Owned. Prime development lot in Wailuku. Great visibility with ocean and mountain views.
Customer Listing Synopsis
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