Aloha
In this newsletter:
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Lumeria Maui
Maui's #1 Retreat Center
Makawao
$25M (FS)
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Fewer Sales But Steady Prices
According to Lawrence Yun, chief economist for the National Association of Realtors, we are still a ways off from achieving market equilibrium, as a supply-demand imbalance persists in our current market. In his blog from the Economist Outlook, Yun states,
“Even though home sales look to trend back to pre-pandemic levels after the big surge of the past two years, inventory will not return to pre-pandemic conditions. That means home prices will get pushed even higher in the upcoming months, albeit modestly, given the supply-demand imbalance.”
Many feel that the market has topped out on Maui, where the number of transactions has cooled somewhat, however, inventory remains critically low, and since our market draws from a strong pool of cash buyers, prices appear to be holding steady. Although the total number of residential and condo sales were down 15% and 13% respectively, the median sale prices in April were still up 19% and 23% over 2021 stats according to a report from Fidelity Title.
It has been a wild ride these past two years with record-breaking median sale prices and the lowest interest rates in history. With interest rates on the rise the market terrain is changing, but just how far things may shift is unknown given the high demand for limited real estate on Maui. If you have any questions about selling or buying at this time, we are here to help.
Mahalo Nui Loa,
Ken Smith R(S), Melissa Smith R(B), and Gregory P Smith R(B)
The Smith Team
P.S. Lower property taxes for many owner-occupied Maui residents will go into effect this year. Check out this article to see if you fall into one of these beneficial tiers.
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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205 (172)
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181 (101)
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1283 (706)
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+7 |
Condos
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163 (86)
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302 (152)
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2123 (595)
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-2 |
Land
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108 (56)
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40 (10)
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329 (102)
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NC |
Total
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476 (314)
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523 (263)
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3645 (1403)
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+5 |
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
84 Mano Drive
Kula
$1.295M (FS) |
This comfortable single story ranch style home offers plenty of room for everyone and work from home. Four bedrooms plus an office as well as a dining area and converted garage workshop. However the generous kitchen with its new ceramic tile floors and den/lounge area is where you’ll want to be.
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230 Ainakula Road
Kula
$1.495M (FS) |
This is truly one of the most unique thoughtfully designed and quality built contemporary homes that features brand new construction from the ground up. This spacious air conditioned 5 bedroom, 3.5 bath single family home offers a flexible floor plan perfect for extended family or additional rental income.
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1881 & 1883 Kaahele Place
Kihei
$1.988M (FS) |
Brand new home and detached ohana of impeccable quality, and built to last on Maui. Looks absolutely stunning. Too many upgrades to list. This high end custom home builder spared no expense on creating his dream home on Maui. The 3rd bedroom is a very cool loft bedroom with a closet that has beautiful Haleakala views.
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2705 Lower Kula Road
Kula
$2.658M (FS) |
This elegant upcountry residence with bi coastal ocean & mountain views. Enter thru the gated entry, travel up the stamped concrete driveway, you know you have arrived at your oasis. Walk thru the double entry doors and enter into your 20ft tall foyer which offers a perfect space for your art collection.
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5187 Lower Honoapiilani Road
Napili
$8.75M (FS) |
Oceanfront estate located on a picturesque cove in the heart of Napili. Aptly named "Honu Hale" (Turtle House), this 6 bedroom, 4.5 bathroom home has a front row seat to year round sunsets, crystal clear blue water, abundant ocean life, including turtles galore, and neighbor island views.
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Homes Under $1M
900 Puiki Place
Lahaina
$720K (FS) |
The perfect starter home to add your own touches. 2 bed, 1 bath, 1 car carport. Fenced yard with mango tree and room for gardening. Just minutes from gorgeous west side beaches, including beautiful Baby Beach. Close to Front Street, and all the amenities Lahaina has to offer.
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221 Lepoko Place
Wailuku
$769K (FS) |
Great starter home with lots of room to customize living use. This 3 bedroom home of 943 square feet also has an attached 689 square footage of enclosed patio/porch space .Quaint neighborhood with a dozen or so homes on a dead end street so not much traffic but in the heart of Wailuku.
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179 Hiwalani Loop
Pukalani
$927.5K (FS) |
A spacious 3 bedroom 2 bath home. Wonderfully well kept Kamaina home in one of Pukalani most desirable neighbors with loads of Aloha. Close to everything Up Country and an easy commute to Kahului and Wailuku.
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Vacation Condos Over $1M
Maalaea Kai 410
Maalaea
$1.298M (FS) |
This custom bright and airy 2 bed, 2 bath condo including the protected lanai. Recently refreshed with new air conditioning throughout, fresh paint, large flat screen TV and brand-new water heater. Custom remodel in 2005 provided seamless white surfaces throughout the kitchen and both bathrooms.
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Makani Sands 304
Honokawai
$1.595M (FS)
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An extremely rare 3 bed, 2.5 bath unit with spectacular ocean, Molokai and Lanai views. This is the perfect canvas with the layout, the space, the location and opportunity to make this oceanfront sanctuary your own.
Customer Listing Synopsis
Video/Virtual Tour
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The Ritz Carlton Residences
1806-08
Kapalua
$3.5M (FS)
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A luxurious, generously sized two bedroom, two bath located on the 8th floor (top floor) of the Residential Suites Wing looking to the pool and ocean. Currently rented in the on-site Ritz Carlton Hotel rental program and categorized as a partial ocean view, showings are subject to availability. This property has a very strong rent history.
Customer Listing Synopsis
Video/Virtual Tour
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Vacation Condos Under $1M
Lahaina Shores 316
Lahaina
$588K (FS)
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Beautiful unobstructed mountain view studio at the beach front resort of Lahaina Shores in downtown historic Lahaina. This fabulous property includes a sandy beach, a beach side pool with spa, and it is within walking distance to world class dining, shopping, art galleries, Lahaina Yacht Harbor.
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Kalama Terrace L-203
Kihei
$685K (FS)
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Here's your chance to own a gorgeous 2 bedroom condo in the heart of Kihei. Kalama Terrace has a wonderful pool with a perfect barbeque area to enjoy the fabulous Hawaiian evenings. Kalama Terrace is close to The Cove which is an ideal place to pick up surfing and it's also near Kalama Park where there's an abundance of dining options.
Customer Listing Synopsis
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Kihei Bay Vista A-206
Kihei
$699.9K (FS)
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Highly sought after location within Kihei Bay Vista Resort. Top floor, corner unit with big ocean views and whale watching from your lanai. The additional windows in the living room and kitchen are only found in the corner units and bring in great additional natural light not found in the interior offerings.
Customer Listing Synopsis
Video/Virtual Tour
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Kihei Parkshore 13
Kihei
$999.5K (FS)
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From the moment you enter this beach condo, you will be mesmerized by the ocean and island views along with surfers, paddlers, and breaching whales (during whale season) keeping you entertained throughout the day And, of course, you will always be grateful for the daily sunsets that will take your breath away.
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Residential Condos Over $1M
Keala O Wailea 7-102
Wailea
$1.55M (FS)
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This 4 years new, tastefully furnished, ground floor, 2 bedroom, 2 bathroom condo at Keala O Wailea has been very lightly used and impeccably maintained. The spacious and private unit features high end Bosch stainless appliances, quartz countertops and an expansive lanai with views of the West Maui Mountains and the sparkling Pacific.
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Kanani Wailea 23
Wailea
$1.999M (FS)
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Wailea Kanani is gated, has many amenities which include a saltwater pool, hot tub, entertainment area with kitchen facilities and an exercise room. Kanani is a great fit for someone who is seeking the privacy of residential living with the ease of maintenance that comes with residential condominium ownership.
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Residential Condos Under $1M
Honokawai East 211
Honokawai
$295K (FS)
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This conveniently located condo is just the next town up from Kaanapali. Minutes away from a grocery store, spa, restaurants, Farmer's Market and the beach! Within minutes you can snorkel, swim or catch a beautiful sunset. The monthly fees include electric, water, basic cable, sewer and trash and a designated parking stall close by.
Customer Listing Synopsis
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Puuone Towers and Plaza 405
Wailuku
$415K (FS)
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Experience the charm of island living in this contemporary, extensively renovated, fully furnished and accessorized turn-key fourth floor residential condominium unit with 2 bedrooms and 2 bathrooms in a desirable complex near the heart of Wailuku.
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Kihei Villages 59-103
Kihei
$610K (FS)
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Beautiful ground floor condo with a private fenced yard lined with Areca palms. This island home is fully remodeled including vinyl windows, beautiful high quality flooring, updated cabinets, gorgeous granite countertops, stainless steel appliances.
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Kalama Kai 302
Kihei
$850K (FS)
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Newer construction with ocean views and clean design in this 3 bedroom, top floor unit in Kihei. PV panels provide shade in the parking areas and reduce common area energy costs. Two assigned parking stalls. 1 covered, 1 uncovered. Beautiful pool pavilion with BBQ, conveniently located across the street from Kihei beaches.
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Vacant Land
202 Makoi Place
Pukalani
$650K (FS)
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This lot is slightly over 1 acre in an eight lot subdivision. Located below Carden Academy of Maui, on a private cul-de-sac, this lot has a rural and quiet feeling but is within short distance of schools and shopping. Partially level with unobstructed views of the Kihei Coast, the lot does include part of the gulch area.
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