Photo Credit: Purpleslog
The absorption rate for Maui Real Estate has continued moving in a positive direction during the past 12 months.
Absorption rate is a simple tool you can use to measure supply and demand. Realtor.com explains it as: “The absorption rate provides the answer to this question: How many months it would take to sell all the homes for sale in my area at the current rate they are selling? The higher the number, the more aggressive home sellers will have to be to get their home noticed and sold.”
So let’s take a look at absorption rates of Maui Real Estate over the past 12 months. We got our numbers from The Realtor’s Association of Maui. Each month’s absorption rate is based upon that month’s active inventory divided by that month’s sales.
March 2011: Residential = 10.9 months, Condo = 10.5 months, Land = 50.4 months
February 2011: Residential = 16.9 months, Condo = 14 months, Land = 79.6 months
January 2011: Residential = 17.6 months, Condo = 15.9 months, Land = 62.9 months
December 2010: Residential = 13.6 months, Condo = 15 months, Land = 40.6 months
November 2010: Residential = 16.8 months, Condo = 20.8 months, Land = 100.2 months
October 2010: Residential = 16.3 months, Condo = 19 months, Land = 119.2 months
September 2010: Residential = 15.8 months, Condo = 14.5 months, Land = 100 months
August 2010: Residential = 14.6 months, Condo = 18 months, Land = 88.6 months.
July 2010: Residential = 16.3 months, Condo = 21.8 months, Land = 43.1 months
June 2010: Residential = 13 months, Condo = 13.4 months, Land = 66.7 months
May 2010: Residential = 12.4 months, Condo = 13.6 months, Land = 36.9 months
April 2010: Residential = 11.8 months, Condo = 9.2 months, Land = 38.6 months
March 2010: Residential = 15.1 months, Condo = 12.2 months, Land = 48.8 months
Do you see any trends in the above numbers? Does it give you faith in Maui Real Estate? Or does it make you want to sit on the fence (if you’re a buyer or seller)?
Soon we’ll organize absorption rates in a table representing a longer time line, i.e. the past 20 years in Maui Real Estate. One thing’s for certain, studying absorption rates, historical price movements, and other trends in real estate is a great way to make educated decisions.
What did you think of this post? What would you like to see us write more about in the future?
Thank you for reading. Have a great Thursday!
Aloha,
Josh Tremblay R(S)
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- Apr
- 19
Wailea Fairway Villas K-202
Looking for a fantastic opportunity to buy in Wailea? Wailea Fairway Villas K-202, a bank owned listing, was just added to the market yesterday.
We are extremely familiar with this 2 bedroom/ 2 bath condo in sought after Wailea. With ocean views, and nearly 1000 sq. ft. of living area, this condo shouldn’t last long. At $400k this is a steal.
Wailea Fairway Villas K-202 is just one example of the many opportunities to buy Maui Real Estate while prices are still low.
If interested, give us a call at (808)572-0866 or contact us through the contact page of our website.
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In next week’s newsletter we’ll be doing a write up on the % of cash transactions that make up our market. In short, the percentage is a very high number. This is not a surprise due to the current lending climate paired with other factors including a roaring Canadian dollar. The Canadians built much of Kihei in the 70′s and 80′s—this was due in part to a strong Canadian dollar at the time. Well the Canadian dollar has roared back, resulting in a significant percentage of all recent Maui real estate purchases having been made by Canadian buyers.
Stay tuned to next week’s newsletter. And if you don’t already receive our weekly newsletter, you can sign up here.
Have a wonderful Thursday!
Aloha,
Josh Tremblay
P.S. We’d love to hear your thoughts, questions, reflections, or opinions on the current Maui Real Estate market. Please feel free to chime into the discussion by commenting on this post.
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- Apr
- 12
Google Street View
Lately I’ve been in the habit of checking out the Mama’s Fish House Web Cam. This morning I logged in to see a handful of surfers surfing Ho’okipa at sunrise. The clarity was fantastic. What’s neat is you can control where the camera points right from the comfort of your own home. Chances are you’ll have to wait in line, because the Mama’s Fish House camera is popular.
One thing you don’t have to wait in line for is Google Street View. This is one of my favorite online tools. Google has done the world a great service by mapping its streets. Not every street is mapped—regardless having the ability to type a few characters and click the mouse a couple of times and whamo, a house that we’re considering listing appears. That’s pretty cool!
And not only has Google mapped the United States in Street View, Google has also begun mapping some really neat international places.
So let’s say you were interested in a Kihei Condo, specifically Kamaole Sands. You simply type “Kamaole Sands, Kihei, HI” into Google Street View and with a few clicks of the mouse you can see the exterior of the complex, landscaping, and the beautiful beach across the street.
Isn’t that fantastic? I think it is.
Sometimes I tend to take for granted the wonderful technologies that are available to me on a moment’s notice and for free. It’s hard to believe that 15 years ago, we lived a very different world, at least technologically speaking.
Google Street View is a wonderful tool for “previewing” real estate without leaving the comfort of your home or office. Google doesn’t have every parcel of Maui real estate mapped, but they certainly have some. Give it a try. I think you’ll be equally amazed.
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We’d like to draw your attention to the Realtor Association of Maui (RAM) official March 2011 statistics.
March was an interesting month. The tsunami which hit Japan and lightly effected Hawaii may have had something to do with prospective buyers pulling back. The unrest in the Middle East, which in turn has caused gas prices to steadily increase has led to increased airfares. This may account for less visitors to Maui, and thus potentially less buyers.
Despite these events, March’s residential sales increased to 88 homes sold, 124 condo units sold, and 11 parcels of land sold.
These are just a few of the notable details. Be sure to check out the rest for yourself.
If we can help you with anything Maui Real Estate related, please give us a call at (808)572-0866.
Have a wonderful week!
Aloha,
Josh Tremblay
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Photo credit: Nordique
The beautiful beaches of South Kihei are a favorite on Maui. Charlie Young, Kamaole I, II, and II, and Keawakapu Beach, are just several of the beaches that make South Kihei so spectacular. Add in the amount of sun South Kihei gets, and you’ve get a destination that draws visitors back again and again.
If you love South Maui the way we do, and have considered purchasing a vacation rental condo, here are 5 South Kihei favorites we’d recommend.
1. Royal Mauian is an oceanfront complex right next to Kamaole I and directly across the street from the Kamaole Shopping Center. Enjoy stunning views from the Royal Mauian.
2. Hale Pau Hana Located next to the Royal Mauian, Hale Pau Hana is a smaller ocean front condo complex that also offers brilliant views of Molokini, Kaho’olawe, Lanai and of course the beautiful white sands of Kamaole I.
3. Kamaole Sands A popular vacation condo that attracts visitors back year after year. Family friendly and located just across the street from Kamaole Beach III, Kamaole Sands has beautiful grounds.
4. Maui Kamaole Located walking distance from Kamaole Sands and a short drive to Wailea, Maui Kamaole is another wonderful condo complex you’ll want to check out.
5. Mana Kai The Mana Kai Maui Resort sits at the end of one of Maui’s most spectacular beaches: Keawakapu Beach. Enjoy stunning views and in room comfort at The Mana Kai.
These five South Kihei Maui favorites are just a few of the many reasons why now is your time to buy Maui real estate.
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Here are our top 5 Maui Real Estate hot buys over $1 million for the week:
1. 8 Hui Road, Napili: Hale Anuenue or “House of Rainbows” which is priced at $2.68 million offers an awesome value.
2. Wailea Beach Villas, Penthouse #503: Wow! Check out these views from this Wailea Beach Villas Penthouse. Offered turnkey with numerous upgrades, our listing, Wailea Beach Villas #503, is a tremendous value.
3. 4933 Kahekili Highway: Also known as The Seahorse Ranch, 4933 Kahekili Highway offers extraordinary possibilities. Where else can you buy 51 acres on Maui with a 5000+ square foot home, detached cottage and pool… Not to mention world class views. Originally priced at $8.9 million, The Seahorse Ranch is a steal at just $1.9 million.
4. 1011 Upper Ulumalu: Quiet, peaceful, majestic, are just a few adjectives to describe 1011 Upper Ulumalu. Situated on 4.4 beautiful green lush Haiku acres, this property offers the best of all worlds. Priced at just just $1.2 million, be prepared to be amazed.
5. 40 Hale Ali’i Place: Voted by Barron’s as the 2nd most desirable location in the United States to own a 2nd home, Wailea is it! 40 Hale Ali’i Place offers you the opportunity to to live in Wailea at a reasonable price.
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In order to find your dream home, you need to start by looking in the perfect location. Maui’s Keawakapu Beach is a tropical paradise, exhibiting all the great features and characteristics that make Maui so idyllic. With its soft, fine sand and its gentle slope toward the sparkling waters of the Pacific Ocean, Keawakapu Beach is the perfect place to relax and enjoy the Hawaiian sunshine. It’s also an excellent swimming beach and, with a reef and sea turtles nearby, Keawakapu Beach is great for snorkelling and enjoying Maui’s underwater wonders.
As one of Maui’s best beaches, one might expect Keawakapu Beach to be overrun with both locals and tourists. However, despite its popularity, Keawakapu Beach’s half-mile stretch of sand provides plenty of room for everyone and overcrowding is not a problem. In fact, it’s easy to enjoy Maui’s relaxing and laid-back atmosphere as you soak up the sun and the incredible natural beauty at Keawakapu Beach. While this gem of a beach is a great place to visit, it’s an even better place to live. Lined with high-end yet unobtrusive homes, Keawakapu Beach features some truly impressive properties.
One Keawakapu Beach property that is currently listed on Maui’s real estate market is located at 3076 South Kihei Road. Listed at $16,500,000, this luxurious single-family home will not fail to impress with its beautiful tropical landscaping, large covered lanais and absolutely breathtaking views of the beach and ocean. The interior of this home is no less impressive, featuring five bedrooms and five bathrooms in 6352 square feet of living space. Built in 2003, this beachfront home has won multiple design awards and features airy rooms with sophisticated finishing touches.
Also currently available is a property located at 3040 South Kihei Road. This ocean front home is listed at $19,000,000 and features six bedrooms and five and a half bathrooms in 7110 square feet of elegant living space. This private and secure two-story single-family home is a showcase of fine architectural details and gorgeous materials such as marble and gleaming hardwoods. Elegantly casual, this stunning Keawakapu Beach home is both luxurious and welcoming and is a masterpiece of fine Hawaiian living.
While both of these Keawakapu Beach homes offer excellent privacy, all of the amenities of Wailea are located just a short distance away. Of course, the best local amenity is the beach itself. By choosing a luxurious tropical lifestyle and by living in a beautiful home on Keawakapu Beach you can enjoy all the very best that Maui has to offer.
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- Apr
- 01
Maalaea Yacht Marina #212
There are many opportunities to be found in this Maui Real Estate market. Ma’alaea Yacht Marina #212 is one such opportunity.
Take a look at 212′s history during the past 12 years:
-In 1999, this Ma’alaea condo sold for $60k.
-Fast forward to 2005, the same condo sold for $277.5k.
-Now todayMa’alaea Yacht Marina #212 is priced for a reasonable $74k
As you’ll also see, the condo has been significantly upgraded. Today it is owned by Fannie Mae. Originally listed 220 days ago for $189,900, it is now priced at $74,500. I don’t imagine Ma’alaea Yacht Marina will be available much longer. It is a deal at $74,500.
This is a leasehold condo—as opposed to fee simple. If managed correctly, it should cash flow.
This is just one example of the many deals available in today’s Maui Real Estate market.
Please give us a call at (808)572-0866 so we can help you connect with the right opportunity.
Have a wonderful week,
Josh Tremblay R(S)
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Earlier this week we listed Kihei Akahi D-315, a rare 2 bedroom, 2 bath corner unit with stunning ocean views. Here’s the listing.
Here are just a few of its many features:
*Location: Directly Across from Kamaole Beaches and in the heart of South Kihei
*Amenities: Less than a 3 minute drive to Wailea
*Rental: Great vacation rental with awesome rental history
*Guests: Guests who stay at Kihei Akah tend to return year after year.
*Unique: 2 bedroom, 2 bath condos at Kihei Akahi don’t come available too often
*Price: Priced at $450k, this is a screaming deal
To schedule a showing for Kihei Akahi D-315 or any other Maui Real Estate, please give us a call at (808)572-0866.
Mahalo Nui Loa. Have a great week!
The Smith Team
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