Aloha
In this newsletter:
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Stunning
Oceanfront
59 Hale Malia Place
Kahana, Napili
$16M (FS)
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Maui County Homeowner & Long-Term Rental Exemptions
Tax exemptions for homeowners vary by county in the state of Hawaii. On Maui, we have two tax relief programs which homeowners may qualify for: a resident owner-occupied home exemption and a long-term rental exemption. The former program reduces taxable assessed value by $200,000 and applies only to residents who have filed 2-consecutive years of state taxes. The later long-term rental tax program is new as of January of this year and potentially offers new/additional tax relief to non-resident and resident homeowners.
Owners may qualify for this exemption if the following criteria are met:
- Owners must rent to one tenant for 12 or more consecutive months.
- Have a signed long-term lease contract that reflects above terms.
- Have no delinquent taxes owed on property.
- Exemption applies to residential property only; property used for commercial purposes does not qualify.
You can learn more about this program here. Applications must be filed by Dec. 31, 2022 and have attached a signed copy of a lease contract to qualify for the 2022 tax year. Once approved, exemptions go into effect January 1st of the upcoming assessed year and are reflected on the subsequent July real property tax bill.
This is great news for non-resident homeowners who do not qualify for owner-occupied exemptions can now take advantage of this new program if they rent long-term and potentially claim up to $200K in exemptions. This incentivizes non-resident owners and benefits local renters who struggle to find adequate long-term rental options on Maui.
Resident homeowners with multiple properties may claim the owner-occupied exemption of up to $200K plus an additional exemption of up to $100K for each tenant-occupied property that meets the long-term rental criteria listed above. According to Maui.Now, these long-term rental exemptions are allowed on more than one home as long as they are on separate parcels. As with all tax related information, we strongly advise you to verify these details with a professional tax accountant.
Mahalo Nui Loa,
Ken Smith R(S), Melissa Smith R(B), Gregory Smith R(B) and Rachel Smith Kofron R(S)
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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258 (209)
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114 (72)
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1070 (633)
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+5 |
Condos
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203 (96)
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196 (115)
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1612 (510)
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+3 |
Land
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134 (66)
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35 (11)
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216 (75)
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+3 |
Total
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595 (371)
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345 (198)
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2898 (1218)
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+11 |
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
9 Makalani Place
Makawao
$1.299M (FS) |
A property that offers more than what meets the eye at first glance. Currently rented as two separate 3 bedroom, 2 bathroom units and a charming studio. this property is a true gem. Situated on nearly a third of an acre of land, offers Buyers the space they desire for flexibility in their living areas.
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713 Alulike Street
Kihei
$1.395M (FS) |
This home comes well equipped with a fully owned 30 panel PV system, Solar hot water, New roof, new exterior paint and plenty of recent maintenance. Also, this home is sold fully furnished and turn key. Tastefully updated throughout with granite finishes, hard surface flooring, and updated fixture & appliances.
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3226 Pikai Way
Wailea
$3.4M (FS) |
Masterfully updated home with own PV, relaxing pool and water feature all thoughtfully designed around indoor-outdoor lifestyle. This 4 bedroom, 4.5 bath has 8 showers. That's both an indoor and outdoor shower for each ensuite bathroom. The stunning remodel of the entire home leaves no surface untouched and no detail unattended to.
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3378 East Lani Ikena Way
Wailea
$3.85M (FS) |
This magnificent new construction boasts cutting-edge contemporary design, captivating ocean views and an unrivaled central location. Cultivated with the highest standards of luxury in mind, features 4 bedrooms, 4.5 bathrooms. Surrounded by beauty at every corner, this incredible property captivates you both indoors and out.
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Homes Under $1M
260 Ea Street
Wailuku
$475K (FS) |
In this "old" style plantation village, where neighbors become family. Walking distance to the post office, tamura's market, miyako's sushi, manju and Sam sato's saimin, wei wei BBQ, etc. Property also accessible from Lauala St.
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139 South Papa Avenue
Kahului
$499K (FS) |
This property consists of a 3 bedroom 1 bathroom main dwelling with a permitted 1 bedroom 1 bathroom Ohana. Conveniently located next to Kaahumanu shopping center, hospital, schools and parks. This home is in much need of TLC and awaiting to be revived.
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2265 Holowai Place
Wailuku
$749K (FS) |
This Happy Valley 3 bedroom 2 bath home has impressive West Maui Mountain and Ocean views. The spacious 11,600-square-foot parcel is terraced with avocado, citrus, coconut, bamboo, and guava trees. There is space for an additional dwelling (Plans included) or abundant garden beds. Upgrades include a newly painted exterior, a new roof in 2022.
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204 Alake Street
Kahului
$899K (FS) |
Updates in the last 2 years include 16 owned solar panels, Tesla battery, new luxury vinyl plank floors throughout, full house split AC system, new refrigerator, new dishwasher, new washer and dryer, and freshly painted exterior and interior. Landscaping and fencing installed in 2015.
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Vacation Condos Over $1M
Maui Vista 1401
Kihei
$1.099M (FS)
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The views are incredible featuring the island of Lanai in the background all the way out to Maalaea and West Maui. Your whale watching will be spectacular. The unit has 2 bedrooms and 2 baths, tile and wood floors, washer/dryer, air-conditioning and a on demand hot water heater. Being a corner end unit, it also features additional side windows to enjoy the trade winds.
Customer Listing Synopsis
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Whaler 469
Kaanapali
$1.79M (FS) |
There is easy access to swim, snorkel and charter a sailboat from the beach. The property sits on six acres of land and is comprised of two 12-story towers. Offers an ocean and mountain view and is located on the South side of Tower II. Enjoy the sunset from your lanai or by the pool and BBQ areas.
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Wailea Point 2302
Wailea
$6.495M (FS) |
A custom mahogany spiral staircase to bedroom 3 & European natural white oak flooring speak warmth & refinement. For a moment, it is hard to notice anything beyond the rich verdant green & blue ocean view windows. Great open floor plan creates this classic Maui seamless indoor/outdoor lifestyle.
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Vacation Condos Under $1M
Hale Royale E-202
Honokawai
$375K (FS) |
Conveniently located across the street from the ocean in Honokowai. This top floor unit was upgraded in 2021 with LVP flooring throughout the main living area. Hale Royale has plenty to offer including two pools, a hot tub, dry sauna, tennis courts and a communal library.
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Kanai A Nalu 314
Maalaea
$750K (LH) |
This unit features ocean views, & beautiful, sandy beaches with low population. Updated flooring, lighting, & bathrooms. Freshly painted hardware & new screens. Passionate property management company assures the complex is kept at the highest standard for you & your guests.
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Kihei Akahi D-112
Kihei
$799K (FS) |
Unit has been remodeled with a modern feel. The split AC keeps the living room cool and the bedroom too. Custom cabinetry allows for more storage and the luxury vinyl plank flooring gives the unit a beachy feel. Granite counters, stainless steel appliances and the combination washer/dryer rounds out the upgrades. I didn't even mention a bit of an ocean view and easy access to the pool.
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Kamaole Sands 8-207
Kihei
$895K (FS) |
This unit is blessed with a highly sought after deep and large lanai, South facing ocean & Upcountry view, valued by the present owners and guests as not all one bedroom units are afforded this amount of lanai space and excellent orientation, making it very desirable.
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Kihei Holiday 219
Kihei
$899K (FS) |
Beautiful 2 bedroom 1 bath unit perfectly positioned in the building offering wonderful ocean and West Maui Mountain views from the large lanai. The orientation of this unit is such that you do not get the intense West facing sun which helps to keep the unit cooler. Fully furnished with high end antique furnishings and custom bamboo bunk beds.
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Residential Condos Over $1M
Masters 1707
Kaanapali
$1.68M (FS)
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The Masters is a gated, and phenomenal Residential Condominium project, which sits on 37.5 acres. It was completed in 1989, with 2 phases, and features 2 swimming pools, tennis courts, bbq areas at the pools, and a citrus grove which has made many Margaritas, fresh lemonade, and every single unit has an ocean view.
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Masters 2204
Kaanapali
$1.695M (FS)
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Beautifully updated 2 bedroom, 2 bath condo in one of west Maui's most popular and Pet friendly complexes. The vaulted ceilings and skylights with electronic remote control shades add a feeling of space to the great room and kitchen. The guest bedroom has built in maple and bamboo cabinets and the master bath was updated with custom vanities and granite counter tops.
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Residential Condos Under $1M
Iao Parkside 1-201
Wailuku
$449K (FS)
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Spacious Condo with a 694 square foot 1 bedroom 1 bath upstairs unit. Also included as a bonus is a permitted enclosed lanai that opens up from the living room area. This was used as a 2nd bedroom and 1 deeded parking stall right in front the unit.
Customer Listing Synopsis
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Haleakala Gardens 6D
Kihei
$649.5K (FS)
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Rarely available 3 bedroom 2 bath ground floor unit in Kihei. Close to shopping, beaches, school and golf. Two parking stalls (not tandem) with visitors parking conveniently near.
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Napili Villas 20-3
Napili
$720K (FS)
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This will go very fast as this is the lowest per square foot 2 bedroom 2 bath long term condo on West Maui, and it is extremely charming. This pet-friendly, well maintained ground floor unit features your very own yard and is located in the most sought after complex in Napili.
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Vacant Land
241 Huahua Place Lot 30
Kula
$1.5M (FS)
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With a total of 3.146 acres and nearly an acre of buildable space, Lot 30 is a captivating setting for a luxury home. Is new luxury development in Kula Upcountry Maui. The community is gated and composed of 35 uniquely beautiful lots ranging from 2.5 to 25 acres.
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