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Aloha ,
Market Update
Rental costs across the country are continually rising due to a low supply and high demand since fewer people are in a position to purchase today than there were before the recession. This is creating an ever increasing gap between wages and housing costs.
The National low income housing coalition took a closer look by mapping the hourly wage needed to rent a 2 bedroom apartment in every U.S. state. To no surprise Hawaii had the highest housing cost at $31.61. The national average is $19.35, way above minimum wage and even above the average income at $15.16.
Expanding the country's afforable housing inventory is one solution, which is why there has been an recent increase in multi-family building projects.
Have a wonderful week,
Lindsey for The Smith Team
Ken, Melissa and Lindsey
P.S. - Island Air is celebrating their 35th anniversary in Hawaii with giveaways throughout September. The grand prize to be a 2 night stay at the Sheraton Maui Resort in Kaanapali.
Melissa Smith R (B), Ken Smith R (S)
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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531 (256)
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253 (39)
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1030 (185)
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+10 |
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Condos
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757 (174)
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191 (12)
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1203(166)
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-25
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Land
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354 (131)
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31 (9)
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149 (22)
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+7 |
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Total
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1642 (561)
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475 (60)
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2382 (373)
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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
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18 Leoole Way
Wailuku
$1.098M (FS) |
Spectacular, breathtaking views! Plunge into the heated, saline pool and float serenely as the water cascades down the slate waterfall and into the pool. Beautifully remodeled home with stainless steel appliances, granite counter tops, high-end, all wood, self-closing cabinetry and lovely engineered wood floors.
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22 Moana Avenue
Kihei
$1.25M (FS) |
An island oasis, beach cottage in beautiful Moana Estates. Lush landscaping surrounds this lovely 3 bedroom 2 bath single story home, with perfect harmony of privacy and convenience.
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474 Mikioi Place
Maui Meadows
$1,299,900 (FS) |
Great Renovated Home and Ohana in Maui Meadows! Sitting on well over a half lot, this a multi- level home featuring beautiful upgrades including new flooring throughout, modern kitchen finishes and appliances. This property includes a separate private pool and bbq area.
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Homes Under $1M
Vacation Condos Over $1M
Hoolei #F3
Wailea
$2.95M (FS) |
Take in a stunning ocean view spanning from Kaho'olawe to West Maui from this extremely well appointed Hoolei condominium. This three bedroom, three and a half bathroom condo in the heart of Wailea boasts 2,619 square feet and features elegant and luxurious finishes throughout the kitchen, baths, and bedrooms.
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Montage Residences #2202
Kapalua
$3.25M (FS) |
A unique opportunity to own the only walk-out, ground floor residence in Building 2 at Montage Kapalua Bay. Conveniently located in front of the 2 mile coastal trail that connects you to all the Montage amenities, hiking trails and Kapalua Bay. This residence is also being sold furnished.
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Vacation Condos Under $1M
Residential Condos
Harbor Lights #A215
Kahului
$74K (FS) |
Convenient location at a great price. This unit can remodeled to your liking. Located in the A Building, you overlook the peaceful water feature on property. Walking distance to shopping and restaurants and across the street from Kahului Harbor.
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Kihei Villages #45-102
Kihei
$189.9K (FS) |
Bank Owned -2 bedroom 1.5 bath ground floor unit at Kihei Villages. Property sold via online auction. Auction results may take up to 7 calendar days after auction closes.
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Keonekai Villages #1-202
Kihei
$295K (FS) |
Bank Owned - Great location near park and entrance to Keonekai Villages. Short distance from Kamaole III Beach, shopping and restaurants of South Kihei and Wailea. Two tandem parking stalls 119/120.
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Vacant Land
22 Kamakoa Loop
Wailuku
$189K (FS) |
Sandhills Estates is a gated subdivision of beautiful custom homes Centrally located on Maui and in the heart of the Maui Lani Master Planned Community. Lot #57 is a one of the Developer's remaining lots and offers mountain views.
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2295 Kahekili Highway
Wailuku
$198.9K (FS) |
Bank Owned - Large lot able to build house and ohana. Located close to Waihee School. Lush and green area.
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84 Anapuni Loop
Kaanapali
$719.9K (FS) |
Lowest priced full acre homesite in Lanikeha overlooking the golf course, and ocean views toward the outer island of Moloka'i. Homes in front are built which helps you see what your true ocean views will be. Exceptional opportunity for a spacious lot with the open space of the ridge and golf course along side.
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