Maui Real Estate

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Last night I had the opportunity to meet with a friend with whom I grew up on Maui. This was the first time we’d seen in each other in at least 15 years. It is remarkable how people change and sometimes grow over time. This individual definitely has grown.

In grade school and intermediate school he was the class clown. He was also very clumsy and uncoordinated. I don’t think he’d mind me saying so, because last night he said so himself. In highschool our ways parted—he went to Maui High School and I went to Seabury. Our friendship seemingly disappeared overnight. Several years ago I started followed him on Facebook, that’s how I found out he is on Maui this week.

Out of the blue, I called him last night at about 7:45pm. We talked for a few minutes, and he invited me to visit with at his father’s house in Kula where he is staying. I showed up about 30 minutes later, and it was just like old times and at the same time it wasn’t.

My friend is now a father of two, a dedicated husband, a successful businessman, and an avid practicer of Jiu Jitsu. He leads a successful investment real estate brokerage in Los Angeles, California. It was intriguing to hear him talk, because this was the guy that two decades ago was the class clown. We’ll likely meet again later today or this weekend—so perhaps there will be an update to this story.

My takeaway from last night is that most people never decide what SPECIFICALLY they want, and as a result are left to pick up the crumbs of those who have decided exactly what they want and are pursuing with focused effort and persistence.

How about you? Do you know what you want? I plan to use a significant portion of this weekend refining my goals and vision for my life.

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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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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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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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The Ritz Carlton Kapalua is going to be auctioned on May 4th, 2011.

Lehman Brothers received approval in March to put the oceanfront Ritz Carlton Maui up for auction. The foreclosure suit, originally filed in September against Gencom Group, Maui Land & Pineapple Company and other institutional investors, is one of the largest foreclosures in West Maui history.

Originally Lehman Brothers issued $232 million in loans to finance an extensive renovation and condominium conversion plan. The Ritz’s owners planned to repay the loan to Lehman through sales of 107 residential condos, all in one wing of the hotel.

Gencom Group, a Miami-based hotel investment and development company led the renovation and condo-conversion efforts. Between July 2007 and December 2007, the Ritz was closed for renovations. At the beginning of 2008, Gencom announced that 93 binding condo sales contracts had been signed at an average of $1.9 million each.

Most of these projected sales failed to be completed. Of the 93 contacts, only 34 sales were completed. The owners of the Ritz Carlton Kapalua then defaulted on the Lehman Brothers loan in early 2009.

So next month, in May, the 73 unsold residential condos, 297 rooms, common area, commercial property, and 21 undeveloped acres of land will go up for auction collectively as one sale.

Will someone step forth and outbid Lehman on May 5th? We’ll see in less than 30 days.

Photo Credit: Chadh

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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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Last week everyone in the office took a break from the normal routine to go see some big wave surfing. On Wednesday, 3/30 a good-sized northwest swell began to take shape on Maui’s north and west shores. So the following morning, Greg decided he’d take his first shot at Jaws tow-in surfing.

As we drove through the deserted pineapple field toward Jaws we created a dust storm in our wake. Full speed ahead, we proceeded down the 2 mile dirt road until we finally arrived at Peahi Maui. We arrived just after 9am, Melissa Smith was already nestled away in a neat little hill-side shelter looking out towards the peak. Greg and his tow partner, Tide Rivers, had just arrived at Jaws on a jet ski.

It was a smaller day by Jaws standards—perhaps 15 to 18 feet. There were about 8 guys out. Greg and Tide were the only two towing in with a jet ski. Everyone else was surfers and paddle surfers.

We saw quite a few waves caught. I’m sure it looks a whole lot bigger from the water. From the cliff, surfers look tiny. Later on a windsurfer came out and even he looked small. So yes, it was probably a lot bigger than it looked. In total we stayed at Jaws for between an hour and an hour and a half. It was quite an educational experience. This is practically my backyard and I had never taken the time to see this freak phenomenon of nature.

Maui has so many beautiful settings and experiences to offer. Yet sometimes we get too busy and caught up with the daily hustle. What I’m saying is sometimes its imperative to slow down and enjoy what’s around you. I hope to be sharing another such experience soon.

Have a great week,

Josh Tremblay R(S)

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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)

Photo credit: Intiaz Rahim

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