Traveling to Hawaii is certainly not as easy as it used to be, but in a recent survey conducted by  the Hawaii Tourism Authority it was found that out of the 495 visitors that were surveyed 85% said their trip was excellent, and 94% said their trip either met or exceeded expectations. This is great to see, as it means that the number of tourists making the journey to Hawaii in 2021 should continue to rise.

While tourism numbers are not nearly what they were in 2019, the Pre-travel Testing Program allows anyone traveling to Hawaii to bypass the 10-day mandatory quarantine, which would make any vacation immensely more enjoyable. Out of the visitors that were surveyed, 79% said that their pre-travel testing experience went smoothly, and the protocols were clear. The remaining 21% reported various issues with pre-travel testing including difficulty finding a trusted testing partner, and not receiving their results within the specified window.

We will continue to look forward to a rise in tourism numbers as the local economy recovers from the COVID-19 pandemic. To look at the full report, follow this link.In an interview with The Maui News, the Chief Economist with the Department of Business, Economic Development and Tourism Eugene Tian stated that nearly 30% of the homes that were purchased in the better part of 2020 were purchased by out-of-state residents. Of those buyers 27.4% were from the mainland, and 1.4% were international. While this number seems high, out-of-state residents usually purchase nearly 50% of the available real estate on Maui.

The data is still being assembled for the demographic breakdown of these out-of-state buyers, as it is unclear whether most of those purchases were made by investors, or those seeking to move their principal residence to Hawaii now that most employees and business owners can work from home.

The three aspects of the current real estate market that appear to show no signs of slowing are low inventory levels, low interest rates on new mortgages and a climbing median sales price for both condos and single family homes. In December, the Realtors Association of Maui recorded the lowest inventory ever since they began keeping records in 2010. New construction is still very active on Maui, with several affordable housing projects as well as luxury condominium complexes set to be completed  between now and 2022.

To read the full interview The Maui News did with Eugene Tian click here.
 
Due to the spike in COVID-19 cases on Maui, Governor Ige gave Mayor Michael Victorino the authority to amend the current emergency rules. The new rules go into effect today. Here are the highlights.

- Retail occupancy is now limited to 30% to allow more room for social distancing.

- Bars and restaurants are now required to close at 10pm or earlier. Drive-throughs, non-liquor related takeout and room service are all exempt from this new rule.

In addition to pre-travel testing requirements for both inter-island and transpacific travelers, they are also now required to download either the AlohaSafe Alert app or another Google-Apple Exposure Notification System app. Travelers can also enable their exposure notification setting on their phone.

Face coverings must now be worn while walking to and from the beach or pool. They can only be removed once you are stationary and socially distanced from the people around you.

-Even if the venue is outdoors, a mask must be worn at gyms, yoga studios, and wellness centers.

While these rules mentioned  above are slightly different from rules that were already in place, it’s important to keep yourself informed on the latest developments coming out of the Mayor’s office.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Smith Team Real Estate - 2 Generations of Satisfied Customers - (808) 572-0866
About Maui Our Listings Property Search Rentals Blog Contact Us
 
Issue 1071 October 10th, 2023
 

Aloha


In this newsletter:
Market Update
Market Watch
Homes Over $1 Million
Homes Under $1 Million
Vacation Condo Over $1M
Vacation Condos Under $1M
Residential Condos 
Vacant Land 


Bank Owned 
Homes (3)
Condos
Land
New Properties 
Price Reductions  

Short Sales
Homes

Condos
Land
New Properties

Price Reductions 

 The Plantation Estates in Kapalua 
   203 Plantation Club   

203 Plantation Club Drive
Kapalua

$19.99M (FS)
 

Why Are Interest Rates So High?

American Pacific Mortgage Elliot Eisenberg economist recently released a video about why interest rates are so high. 
 
He 
breaks down the reasons why and what we can expect in the near future: 


The first reason interest rates are so high is because the economy's pretty strong, much stronger than we expected it to be, and that's why interest rates are so high.

The second reason interest rates are high is because of inflation, even though it's come down and remains relatively high.

The third reason interest rates are high is because the central bank, the Fed, is selling some of the treasuries it bought during the worst of COVID in an effort back then to keep rates down.

The fourth reason interest rates are high is because Japan and China are both selling off their treasuries in order to boost their economies, and push up the value of their currency.

The last reason interest rates are so high is because of energy costs. Energy costs are high, which is driving up inflation.

 
Mahalo Nui Loa,

Ken Smith R(S), Melissa Smith R(B), Gregory Smith R(B) 

The Smith Team
Follow Us
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Market Watch
 
Active
Pending
Sold
Change
Homes
220 (181)
107 (70)
780 (484)
+7
Condos
217 (110)
146 (94)
985 (331)
NC
Land
132 (62)
 28 (11)
197 (55)
+6
Total
758 (353)
281 (175)
1962 (870)
+13
 
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.

 

Homes Over $1M

19 Hooiki St
19 Hooiki Street
Kihei
$1.28M (FS)
Located on the single street subdivision. 4 bedroom 3 bath, 1,863 sqft. home. The value is having two ensuite primary bedrooms, one on each floor. The kitchen, living room, dining area, laundry room, and one primary bedroom which includes its own entrance is on the ground floor and the other ensuite bedroom, with an additional two bedrooms and a full bath is upstairs.
8 BERMUDA Pl
8 Bermuda Place
Kahana
$2.25M (FS)
The reverse floor plan was designed to capture phenomenal ocean views. The upper level includes the living room, dining room, kitchen and master suite with private enclosed lanai. The upper outdoor lanai is spacious and is the perfect spot for outdoor dining and entertaining with ocean, sunset and island views.
13434 Kula
13434 Kula Highway
Kula
$2.499M (FS)
This extraordinary estate epitomizes unrivaled seclusion, boasting indescribable vistas of the boundless ocean, neighboring islands. This property features a stunning 2,478 sq ft main residence with 5 bedrooms and 4 bathrooms, as well as two additional dwellings that offer ample potential for multiple living arrangements or the possibility of additional rental income.

Homes Under $1M

951 Kuhio Pl
951 Kuhio Place
Wailuku
$799K (FS)
This home offers views of the majestic West Maui Mountains, creating a soothing and serene ambiance. The exterior of the property has undergone recent enhancements, including a freshly started sprayed seeded grass with an underground automatic sprinkler system. Additionally, a new retaining wall with a vinyl fence adds both aesthetic appeal and functionality to the property. Inside, this charming home has been thoughtfully upgraded.
 
 686 Onipaa Pl 
686 Onipaa Place
Makawao
$895K (FS)
Seamlessly combines the timeless charm of old Hawaii with upgrades completed in February of 2023, including new appliances, luxurious vinyl plank flooring, granite and quartz countertops. Enjoy the cool upcountry breeze through the home and greet the day with pasture vistas off of the backyard lanai. 
 
2350 Main St
2350 Main Street
Wailuku
$899K (FS)
This wonderful property boasts 1,876 square feet of living space, 3 bedrooms and 1.5 bathrooms, and was built in 2002. Nestled on the way to beautiful Iao Valley, you'll find yourself in close proximity to county and state buildings, and dining and entertainment options just a short walk or drive away.
 

Vacation Condos Over $1M

 Maui Kamaole 
Maui Kamaole C-102
Kihei
$1.15M (FS)
This ground floor unit lives like your Maui home, but is also in a very popular vacation rental program This turn key, fully furnished condo is beautifully appointed with high end furniture, cabinets, granite countertops, and super spacious living areas. Maui Kamaole is situated over 23 tropical landscaped acres, including 2 swimming pools,2 spas, and tennis courts.  
 
The Ritz Carlton
The Ritz Carlton Residence 1614-1616
Kapalua
$3.65M (FS)
This residence offers breathtaking views of the Pacific Ocean. With room for up to 6 adults in the two-bedroom configuration, this residence is perfect for both intimate getaways and larger groups. This residence is located in the highly desirable Ocean View category, which has provided some of the highest net income to its owner.
Makena Surf
Makena Surf C-101
Makena
$4.2M (FS)
This spacious 2 bedroom, 2 bathroom accents an additional den/office area that could easily be converted into a 3rd bedroom. Conveniently located on the ground-floor, this single-level unit and is being offered fully furnished. Soak up the beautiful sunsets all-year round while enjoying whale sightings in the winter months from your oversized covered lanai that extends to the lush lawn for entertaining.

Vacation Condos Under $1M

Koa Lagoon
Koa Lagoon 303
Kihei
$949K (FS)
This turnkey short-term vacation rentable unit has breathtaking expansive ocean views from the rare wide and deep lanai, giving the living room, dining room, and kitchen spectacular ocean views. Watch whales breach, take in epic sunsets, walk the beach, or just lay around at the pool. With only 42 condos in the concrete building, you can expect privacy and tranquility, making it an ideal retreat.
Hale Kamaole
Hale Kamaole 8-171
Kihei
$950K (FS)
This 1 bedroom, 1 bath ground floor condo at Hale Kamaole offers an unparalleled opportunity to experience the quintessential Maui lifestyle. This unit is located in Building 8. One of the buildings closest to the ocean. From the moment you step inside, you'll be captivated by the charm and elegance of this condo. The open living space seamlessly blends indoor and outdoor living.
Kamaole Sands
Kamaole Sands 3-202
Kihei
$999.9K (FS)
Unit was remodeled in 2019 and boasts a spacious and inviting layout, featuring one bedroom and two bathrooms with a large lanai that seats six comfortably. As you enter inside, you'll immediately be captivated by the tastefully designed interior, combining contemporary elegance with a touch of Hawaiian charm. 

Residential Condos Over $1M

Kai Ani Village
Kai Ani Village 9-203
Kihei
$1.199M (FS)
This unit comes with a rare for a condo detached garage in addition to one other assigned parking stall. Kai Ani boasts one of the best pool complexes outside of a resort including covered eating and BBQ area, cabanas and jacuzzi. You really must see this gorgeous unit to fully appreciate. 
Wailea Palms
Wailea Palms 2708
Wailea
$1.85M (FS)
This top floor, 2 bedroom 2 bath private residence was originally used as a model for the developer. Unit boasts an unobstructed ocean view from every room, new split AC, new dishwasher, new cooktop, new oven and new microwave. You will love the spacious lanai, where you can relax and enjoy the sunset over the Pacific Ocean. 

 
Hokulani Golf Villas
Hokulani Golf Villas 121
Kihei
$2.15M (FS)
This tastefully upgraded and meticulously maintained home awaits your arrival, offering the ideal blend of modern living and tranquility. This flexible residence boasts a single-level 2 bedroom layout with an additional office/den, providing the simplicity of condo living with the spaciousness of a single-family home.
 
Kai Ani Village
Wailea Palms 2803
Wailea
$2.3M (FS)
Completely remodeled a few years ago, this private and quiet ocean view unit is the largest floor plan with two bedrooms, two baths, and two large lanais. The third bathroom was converted into a large laundry/utility room that also has a 2nd refrigerator. Some ocean views from nearly all rooms. 
 
Keala O Wailea
Keala O Wailea 4-201
Wailea
$2.925M (FS)
This exceptional condominium offers the perfect combination of resort-like living and ease. As you step inside, you'll be greeted by breathtaking ocean views and the lush greenery of the Wailea Golf Course. This remarkable view is seamlessly integrated with an oversized wrap-around lanai, creating an outdoor oasis perfect for watching the sunset over the ocean.
 

Residential Condos Under $1M

Keonekai Villages 26-101
Kihei
$729.9K (FS)
This unit, welcomes you with it’s inviting and cozy ambiance that perfectly complements the laid-back Maui lifestyle, designed for maximize comfort and functionality. Located in the coveted region of South Maui, Keonekai Villages is a delightful community that offers the very best of island living for the price. This adorable unit is a gem offering a lifestyle that dreams are made of.
 
Villas at Kenolio
Villas at Kenolio 13-A
Kihei
$749K (FS)
A well maintained 2 bedroom 2 bath plus large loft, highly desired 2nd floor unit. Featuring vaulted ceilings that give an open and spacious feel with great natural light. Recently replaced carpet, renovated vanities and fixtures in both bathrooms, quality plantation shutters and ceiling fans, 3 in room A/C units, solar hot water heater and large interior storage closet. 
 
Flats at Kamalani
Flats at Kamalani 1308
Kihei
$808K (FS)
This spectacular unit comes fully furnished and ready to go. All high end fixtures and complimenting furnishings make this an easy buy.  Step into this beautifully appointed end-cap, 3 bedroom, 2 bathroom home in the new Kamalani complex and you have a tastefully put together home with a galley kitchen with Stainless appliances plus a Brand new refrigerator.
 
Kai Ani Village 1
Kai Ani Village 1-202 
Kihei
$875K (FS)
Upstairs, 2 bedroom 2 bathroom condo at the desirable Kai Ani complex in the heart of Kihei is now available. New(ish) carpet and paint throughout. Cherry-wood cabinets and granite in the fully appointed kitchen. Enjoy the beverage of your choice from your lanai with Haleakala views.
 

Vacant Land

1900 Pulehu
1900 Pulehu Road
Kula
$7M (FS)
Enjoy this serene location while taking in the unique views that are not often experienced in this neighborhood. Open views from Haiku to Makena, Molokini island as well as overlooking Maui's coastlines and the open ocean Channels beyond. This Historical Ranch land is being transformed into a food forest with the potential and location for Farmer's Market.
 
   
 

 
The Smith Team
www.MauiSales.com
(808) 572-0866
 
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Coldwell Banker Island Properties
#B-35 3750 Wailea Alanui Drive
Wailea, Hawaii 96753
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