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Aloha ,
Market Update
During the last 12 to 24 months, prices for most real estate on Maui have appreciated significantly. Low end residential condos have gone up the most, because they were the ones that were hit hardest in the down cycle.
Condos such as Kihei Villages and Southpointe which had sold at the peak for $330K had dropped as low as $100K. Now, they are back to between $200K and 250K. Homes did not drop nearly as much. Perhaps 35% to 40% on average, and they have now rebounded approximately 20% to 25%.
In many areas of the country, prices are at previous peak levels or higher. Maui often lags prices on the West Coast by 6 to 12 months, so I feel that investors are now looking at the Maui as being under priced. Certainly, if you compare prices on Maui with Oahu prices, you will come to that same conclusion.
If you haven’t bought yet, you certainly have not missed the boat. There are still plenty of excellent opportunities for first time home buyers, second home buyers, and investors. I don’t want to mislead you though as it is getting increasingly difficult owing to the competition you will face to purchase well priced properties.
Let us put our expertise to work, so that we can help you find the right property to meet your needs and suit your budget.
Have a wonderful week.
Mahalo Nui Loa,
Ken for The Smith Team
P.S. We would like to welcome back to the Island, Maya Rivers, a private fitness trainer. She will be starting soon as a trainer for guests at the new Andaz Hotel in Wailea. She is also available for personal private training as well. Check out her website, and call her for a private training session.
Gregory P. Smith R (B), Melissa Smith R (B), Ken Smith R (S), Jeremy Smith R (S)
Market Watch for August 26th , 2013
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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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473 (258)
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245 (34)
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999 (138)
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-1
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Condos
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633 (150)
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282 (21)
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1295 (139)
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-5 |
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Land
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366 (116)
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43 (5)
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204 (29)
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-2
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Total
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1472 (524)
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570 (60)
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2498 (306)
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-8
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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
2371 Waipua Street
Spreckelsville
$1.19M (FS)
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Come live the Maui lifestyle in this immaculate home in Spreckelsville. Walk to Baby Beach, Sugar Cove, or the Maui Country Club. This 3 bedroom, 3.5 bathroom custom home offers a delightfully open floor plan with high ceilings. Upstairs you will discover all hardwood flooring with a chef’s kitchen, complete with stainless steel appliances, granite countertops, & a large island, along with a spacious living room, dining room, & master suite with a walk-thru closet & a beautiful bathroom. Virtual Tour.
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23 Maud's Place
Kula
$1.57M (FS)
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Known as the "Koa Wood Home" in Kula for the small fortune in**extensive** custom Koa woodwork throughout the home. Not to mention other exotic Hawaiian woods used in the doors, cabinetry and wood accents. Must see to appreciate. This incredible home sits on 2.4 pristine acres with stunning ocean views in an area and altitude considered the best climate on earth. Just completed a 1700+ square foot brand new building/artist studio (county approved) right off the Highway. Perfect for an art gallery or display shop. Virtual Tour.
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361 Kualono Place
Wailea
$1.679M (FS)
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Tasteful & elegant best characterize this Wailea Pualani Owner/Builder's partial ocean view residence. The double mahogany & glass eight foot entry doors allow lots of light & a view through to the resort quality pool, spa & covered outdoor dining / family area. The floors are meticulously bias-set, warm toned travertine, natural cork, & end-grain honey-hued bamboo.
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Homes Under $1M
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2101-C Mokuhau Road
Wailuku
$150K (FS)
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Bank Owned. This two bedroom, one bath house, partially constructed cottage, and detached storage building are located away from the road at the end of a driveway. Experience cool Wailuku breezes and West Maui Mountain views from this over 6000 sq. ft. lot.
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9 Kapuna Street
Kihei
$495K (FS)
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Prime corner lot location, just steps to popular restaurants, shopping and the attractions of Kukui Mall along South Kihei Road. The home's layout lends itself to a possible 1 bedroom/1 bath ohana option.
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32 Papahi Loop
Kahului
$525K (FS)
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Your tropical paradise awaits you at this popular "Pebble Beach" model in the desirable Maui Lani Legends subdivision.
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21 Meleinoa Place
Kahului
$695K (FS)
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Clean and well maintained steel framed home in The Islands. Located on a cul-de-sac this two story home sits facing south on an elevated lot over looking The Islands with wonderful views of the West Maui Mountains, Iao Valley and Haleakala. Large family room, dining room, and extra spacious kitchen are located downstairs, along with a 1/2 bath, and indoor laundry room.
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3449 Akala Drive
Kihei
$950K (FS)
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Wonderful tropical oasis on .58 acres in sought after Maui Meadows. 3 bedroom/2 bath Main house with ocean view plus remodeled extended family area with 1 bedroom / 1bath. Wonderfully remodeled detached cottage 1bedroom/1bath with vaulted ceilings, plus a 1,024 sq. ft. detached workshop.
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Vacation Condos Over $1M
Ho'olei G-1
Wailea
$1.895M (FS)
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Best deal in the entire neighborhood. Ho'olei G-1 boasts 3076 sq. ft. of interior footage, making it one of the largest condominiums you'll find in the Wailea Resort. The three bedrooms in this residence are like a retreat, each including an ensuite bath and plush cabana antigua carpeting.
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Vacation Condos Under $1M
Aina Nalu B-205
Lahaina
$225K (FS)
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This might be the money maker you are looking for! This beautifully designed studio at Aina Nalu in the heart of Lahaina town had an 87% occupancy rate for 2012 and so far for 2013 it's been booked 91% of the time! The grounds are great with two pools, spacious and classy entertainment area, and front desk.
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Nani Kai Hale #203
Kihei
$359K (FS)
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Brand new Fleetwood Sliding lanai door and double split air conditioning system sets this unit apart in addition to the tiled floors, showers, brand new maple kitchen cabinets, as well as new lighting and plumbing fixtures.
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Residential Condos
Haleakala Gardens 11C
Kihei
$234.9K (FS)
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This ground floor unit has been remodeled with granite counter tops, cabinets, new appliances, and tile floors throughout. At 883 sq. ft., this unit is over 100 sq. ft. larger than any of the other comparable Kihei Complexes.
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The Breakers D-21
Honokowai
$275K (FS)
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A rare commodity at The Breakers in Honokowai. One bedroom, one bathroom with 578 sq. ft. living area located on the second level. This unit is in top notch condition plus the owner has added Split Air Conditioning.
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Vacant Land
Ka'anapali Coffee #11
Ka'anapali
$550K (FS)
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Kaanapali Coffee Farms is a new and exclusive agriculture community. Located 300-500 feet above west Maui's world famous Kaanapali Resort. Each lot offers panoramic sunset, island and ocean views second to none found on Maui. Enjoy low density living among the fabulous rolling hills of the manicured coffee farms. Build your plantation style estate home and live among the beauty of the groomed orchard.
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